San Diego biotech AnaptysBio has set the price of its initial public offering, expecting to raise about $60 million from the sale of its common stock.

The firm plans to sell 4 million shares of its common stock at $14 to $16 per share. Shares will trade on the Nasdaq Global Select Market under the stock symbol ANAB.

Earlier this month, AnaptysBio announced that it had brought on Dominic Piscitelli as chief financial officer, and filed an S-1 form with the U.S. Securities and Exchange Commission signaling its intent to go public.

The company is the first local firm to go public this year. Last year, only one San Diego life science company filed for an IPO: Obalon Therapeutics.

AnaptysBio, which employs about 50 people in San Diego, is developing antibody product candidates to treat inflammation.