Biopharmaceutical company Cerus Corp. said Wednesday it is selling $26.1 million in stock to selected institutional investors.

3.9 million shares are being sold at $6.68 apiece. Cerus expects to net $24.3 million from the deal.

The stock is being offered under a shelf registration previously filed with the Securities and Exchange Commission

Banc of America Securities LLC led the deal and Robert W. Baird & Co. was co-lead.