BioDelivery Sciences International has closed on a public offering of its stock that raised $8.8 million for the firm.

BioDeliver (Nasdaq: BDSI) issued 4.4 million shares at a price of $2 each.

Another $1.32 million could be raised if additional options are exercised by the offering underwriters Ferris, Baker Watts Incorporated, Maxim Group LLC and GunnAllen Financial, Inc.