LOUISVILLE - GlobeImmune Inc. (Nasdaq: GBIM) announced Tuesday that it closed its initial public offering, raising $17.25 million in gross proceeds.

The Louisville-based biopharmaceutical company sold 1.725 million shares of its common stock for $10 each, including 225,000 shares sold pursuant to the exercise of the underwriter's overallotment option.

The gross proceeds amount is prior to the deduction of underwriting discounts and commissions and other offering expenses.

GlobeImmune shares began trading July 2. The share price closed at $12.89 Tuesday, up 12 percent from the previous day's close.