Akero Therapeutics Inc. priced an offering of 5,228,166 common shares at $36 each.

Gross proceeds are expected to be about $188.2 million.

The South San Francisco, Calif.-based drugmaker also granted underwriters a 30-day option to buy up to an additional 784,224 common shares.

The offering is expected to close on or about July 10.

J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Jefferies LLC and Evercore Group LLC are acting as joint book-running managers for the offering.

Akero develops therapies for serious metabolic diseases. Its lead product candidate is efruxifermin, which is being developed to treat nonalcoholic steatohepatitis disease.