Cardiff Oncology (CRDF) said Tuesday its oversubscribed public offering of nearly 15.4 million common shares has been priced at $2.60 apiece.

The offering, which will likely close on or about Wednesday, is expected to generate roughly $40 million in gross proceeds that will be used for working capital and other general corporate purposes, among other uses, the company said.

Cardiff Oncology shares were up over 33% in recent Tuesday premarket trading.