Iambic Therapeutics (IAM) priced its initial public offering of about 9.38 million shares at $16.00 each, it said late Wednesday, targeting about $150 million in gross proceeds.

The company, which is offering all the shares in the sale, said it has granted underwriters a 30-day option to purchase up to about 1.41 million additional shares.

Shares are expected to begin trading on the Nasdaq Global Select Market on Thursday, under the ticker symbol "IAM," Iambic said.

The offering is expected to close Friday, subject to customary closing conditions, according to the company.