Aura Biosciences Inc. (NASDAQ: AURA) announced the launch of an underwritten public offering of common stock shares and pre-funded warrants. The clinical-stage biotechnology company plans to grant underwriters a 30-day option to purchase up to 15% additional shares on the same terms and conditions.

The company will sell all shares and pre-funded warrants in the offering. Aura noted the offering remains subject to market conditions, with no assurance regarding completion timing or final terms.

Leerink Partners, TD Cowen and Evercore ISI serve as joint bookrunning managers for the offering. LifeSci Capital acts as a bookrunning manager, while Citizens Capital Markets serves as co-manager.

The offering proceeds under a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on March 27, 2024, which became effective April 5, 2024. A preliminary prospectus supplement and accompanying prospectus will be filed with the SEC and made available on the agency's website.

Aura develops precision therapies for solid tumors designed to preserve organ function. The company's lead candidate, bel-sar, is in late-stage development for early choroidal melanoma and early-stage development for other ocular oncology indications and bladder cancer. The company is headquartered in Boston.

Final terms of the offering will be disclosed in a final prospectus supplement filed with the SEC, according to the company's statement.