Satellos Bioscience (MSLE) said late Monday it has completed an underwritten public offering of approximately 5.2 million common shares, including an option for underwriters to buy an additional 712,574 common shares and in lieu of common shares for some investors, pre-funded warrants to buy 495,049 common shares.

The common shares were sold at $10.10 a piece and the pre-funded warrants were sold at $10.09 a unit, the company said, with gross proceeds of approximately $57.2 million before accounting for underwriting discounts and commissions.

The company said it plans to use the net proceeds from the offering to finance ongoing research and development activities, and for working capital and general corporate purposes.

Franklin Berger, a member of Satellos' board, purchased 24,750 common shares in the offering, the company said.