Harmony Biosciences Holdings Inc. priced its upsized IPO of 5,348,837 common shares at $24 apiece, above its previously announced range of between $20 per share and $23 per share.

The Plymouth Meeting, Pa.-based company also granted underwriters a 30-day option to buy up to an additional 802,325 common shares at the same price.

Harmony previously planned to offer 4,651,163 common shares, with an option for underwriters to buy an additional 697,674 common shares.

Gross proceeds are expected to be about $128.4 million. The company previously said proceeds from the offering will be used for the clinical development of the company's lead product, Wakix, to treat narcolepsy in children.

The company plans to initiate a phase 3 clinical trial of the drug in children with narcolepsy in the second half of 2021. Wakix, or pitolisant, was approved in the U.S. in 2019 to address excessive daytime sleepiness in adults with narcolepsy.

Harmony's shares are expected to begin trading on the Nasdaq Global Market under the HRMY ticker symbol Aug. 19. The offering is expected to close Aug. 21.

Goldman Sachs & Co. LLC, Jefferies and Piper Sandler are joint bookrunning managers for the IPO.