Relmada Therapeutics (RLMD) said Monday it has entered into a securities purchase agreement for a private investment in public equity financing to raise about $160 million in gross proceeds.

Relmada said it is selling about 29.5 million shares for $4.75 per share and pre-funded warrants to purchase 4.2 million shares at $4.749 per warrant, which has an exercise price of $0.001 per share.

The financing round is expected to close on or about Wednesday, with participation from Venrock Healthcare Capital Partners, Commodore Capital, Janus Henderson Investors, RA Capital Management, Balyasny Asset Management and others, the company said.

Relmada said it plans to use the net proceeds together with existing cash, cash equivalents and short-term investments for working capital and general corporate purposes, including research and development of its product candidates.

Relmada shares were up more than 34% pre-bell Monday.