BioDelivery Sciences International Inc., a Raleigh-based pharmaceutical company, intends to raise $47.5 million by selling common stock, according to a filing with the Securities and Exchange Commission.

BioDelivery entered into an underwriting agreement with Broadfin Healthcare Master Fund Ltd. and Cantor Fitzgerald & Co. and SunTrust Robinson Humphrey Inc. on Thursday.

The agreement relates to a public offering of 12 million shares of the company’s common stock at a price of $5 per share, of which 10 million are being offered and sold by BioDelivery.

The net proceeds to BioDelivery, after deducting the underwriting discount and estimated expenses, are expected to be approximately $47.5 million. The filing did not disclose what BioDelivery intends to do with the proceeds.

The offering is expected to be closed on or about April 15, subject to closing conditions.

BioDelivery Sciences utilizes technology and other drug delivery technologies to develop and commercialize new applications of proven therapies aimed at addresses important unmet medical needs.

The company’s products, such as Belbuca, address serious and debilitating conditions such as breakthrough cancer pain, chronic pain, and opioid dependence.

Last month, BioDelivery has filed a patent trademark lawsuit against four other companies, alleging the defendants have infringed upon a patent for its pain management drug Belbuca.

BioDelivery’s stock is trading at $5, down 2 cents, in midday Friday trading.