Amylyx Pharmaceuticals is offering 6 million shares of common stock as part of a public offering, the company announced Wednesday morning.  

Amylyx mentioned that it expects to grant underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock at the public offering price, less the underwriting discounts and commissions. The company is expected to raise between $167 million to $192 million as part of the offering.

The pharma company said that several major financial institutions are acting as joint book-running managers for the initiative, including Goldman Sachs & Co. LLC, BofA Securities, SVB Securities and Evercore ISI, while H.C. Wainwright & Co. is acting as lead manager. 

News of the offering came days after Relyvrio, the company’s drug for treating amyotrophic lateral sclerosis (ALS), received approval from the Food and Drug Administration. The move was widely expected as findings indicated it was the first ALS drug to demonstrate a statistically significant benefit to its subjects in a clinical trial. 

The approval was heralded by ALS patient advocacy groups, including the ALS Association, which said it invested $2.2 million raised through the viral 2014 Ice Bucket Challenge into developing Relyvrio. 

Still, the approval was not without controversy as it came after an external group of advisors to the FDA recommended the drug in September after previously voting against it six months earlier. 

Additionally, in a conference call with analysts the day after the approval was announced, Amylyx said it would price the wholesale acquisition cost at around $158,000 per year. The company’s co-CEO Justin Klee said the price is intended to balance the needs of the ALS community with Amylyx’s ability to sustain itself. 

The company has also noted that the price is slightly lower than that of another FDA-approved ALS treatment, Mitsubishi Tanabe Pharma’s infusion drug Radicava (edaravone), which costs $160,000 annually. 

Amylyx stated that the drug should be available in the next six to eight weeks and expects revenue to grow at the start of next year.