City Therapeutics said late Thursday it has priced its upsized initial offering of about 11.1 million shares at $18 each for estimated gross proceeds of about $200 million.

The biotechnology company said it has granted underwriters a 30-day option to purchase up to about 1.7 million additional shares.

City Therapeutics said its shares are expected to begin trading on the Nasdaq Global Market this Friday, under the ticker symbol, "CTY."

The IPO is set to close Oct. 19, subject to customary closing conditions.