Altimmune Announces Closing of $75 Million Registered Direct Offering of Common Stock

Altimmune (Nasdaq: ALT) closed a registered direct offering raising approximately $75 million gross through sale of 17,045,454 shares of common stock (or pre-funded warrants) on Jan 29, 2026.

Rhea-AI Summary

Altimmune (Nasdaq: ALT) closed a registered direct offering raising approximately $75 million gross through sale of 17,045,454 shares of common stock (or pre-funded warrants) on Jan 29, 2026. Proceeds will fund the planned Phase 3 pemvidutide trial for MASH, plus working capital and general corporate purposes. The pre-funded warrants are exercisable immediately at $0.001 per share. Titan Partners acted as sole placement agent; the offering was made from an effective shelf registration declared effective Dec 5, 2025.

Positive

• Gross proceeds of approximately $75 million raised
• Proceeds earmarked to fund upcoming Phase 3 pemvidutide trial
• Pre-funded warrants exercisable immediately at an exercise price of $0.001

Negative

• Issuance of 17,045,454 shares (or pre-funded warrants) could dilute existing shareholders
• Placement agent fees and offering expenses will reduce the net proceeds available to the company

Argus Jan 30 session

+9.80% close to close Open Argus

Details

News Market Reaction – ALT

On Jan 30, the first trading day after this news, ALT closed 9.80% above the previous close.

Data tracked by StockTitan Argus for the Jan 30 session.

Market Context

On Jan 30, the first trading day after this news, the stock closed 9.8% above the previous close. A ...

Analysis

On Jan 30, the first trading day after this news, the stock closed 9.8% above the previous close. A strong positive reaction aligns with prior market behavior around this financing, as the Jan 27, 2026 pricing news saw a +9.19% move. Investors previously tolerated dilution given earmarked use for the MASH Phase 3 program. However, the company already has a $400,000,000 shelf and has tapped it via a $75,000,000 registered direct, so future capital needs and additional issuance capacity remain key risks for sustaining gains.

Key Figures

Gross proceeds: $75 million Shares offered: 17,045,454 shares Warrant exercise price: $0.001 per share +4 more

Gross proceeds

$75 million

Registered direct offering before fees and expenses

Shares offered

17,045,454 shares

Common stock or pre-funded warrants in the offering

Warrant exercise price

$0.001 per share

Pre-funded warrants in the registered direct offering

Phase 2b duration

48 weeks

Topline pemvidutide MASH data referenced in the release

Phase 3 trial

Planned initiation

Upcoming MASH Phase 3 trial funded with net proceeds

Dual agonist ratio

1:1 glucagon/GLP-1

Pemvidutide mechanism described as balanced dual agonist

Shelf effectiveness date

December 5, 2025

Effective shelf registration statement used for this offering

Previous Offering Reports

1 past event · Latest: Jan 27

Same Type 1 event

1. Jan 27

   Registered direct pricing

   24h Move

   +9.2%

   Pricing of $75M registered direct offering with stated use toward Phase 3 prep.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

registered direct offering, pre-funded warrants, exercise price, breakthrough therapy designation, +4 more

8 terms

registered direct offering financial

"announced the closing of its previously announced registered direct offering pursuant"

A registered direct offering is a way for a company to sell new shares of its stock directly to select investors with regulatory approval. This method allows the company to raise funds quickly and efficiently without needing a public auction, similar to offering exclusive access to a limited number of buyers. For investors, it often provides an opportunity to purchase shares at a favorable price, while giving the company immediate access to capital.

pre-funded warrants financial

"shares of its common stock (or pre-funded warrants in lieu thereof) pursuant"

Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.

exercise price financial

"The pre-funded warrants have an exercise price of $0.001 per share"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

breakthrough therapy designation regulatory

"and the Breakthrough Therapy Designation from the U.S. FDA"

A breakthrough therapy designation is a regulatory fast-track given to a drug or treatment that shows early signs of providing a major improvement over existing options for a serious condition. Think of it as a VIP lane that can speed up development and more intensive guidance from regulators, which matters to investors because it can shorten time to market, reduce development risk and potentially increase a company’s value — though it does not guarantee approval.

phase 2b medical

"our recently-announced Phase 2b 48-week topline data"

Phase 2b is a stage in the development of a new medicine or treatment where researchers test its effectiveness and safety in a larger group of people. This step helps determine whether the treatment works well enough to move forward and if it has manageable side effects, which is important for investors because successful results can lead to potential approval and market opportunity.

phase 3 trial medical

"as we move toward initiation of our Phase 3 trial"

A Phase 3 trial is a large, late-stage test of a new drug or medical treatment done on many people to make sure it really works and is safe. For investors, it matters because a successful Phase 3 usually means the company can ask regulators to sell the product and could earn lots of money, while failure can sharply reduce the company’s value.

shelf registration statement regulatory

"pursuant to an effective shelf registration statement that was previously filed"

A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.

prospectus supplement regulatory

"A prospectus supplement relating to the shares of common stock"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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GAITHERSBURG, Md., Jan. 29, 2026 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq: ALT), a late clinical-stage biopharmaceutical company developing pemvidutide to address serious liver diseases, announced the closing of its previously announced registered direct offering pursuant to a securities purchase agreement with a new fundamental institutional investor for the purchase and sale of 17,045,454 shares of its common stock (or pre-funded warrants in lieu thereof) pursuant to a registered direct offering. The gross proceeds to the Company were approximately $75 million, before deducting placement agent fees and other offering expenses. All of the shares and pre-funded warrants in the offering are being offered by Altimmune. The pre-funded warrants have an exercise price of $0.001 per share, are exercisable immediately upon issuance and will not expire until fully exercised.

“Pemvidutide, our balanced 1:1 glucagon/GLP-1 dual agonist, has the potential to be a differentiated therapy for patients with MASH as demonstrated by our recently-announced Phase 2b 48-week topline data and the Breakthrough Therapy Designation from the U.S. FDA. This investment is an important step in strengthening Altimmune’s balance sheet and increasing our operational and strategic flexibility as we move toward initiation of our Phase 3 trial” said Jerry Durso, President and Chief Executive Officer of Altimmune. “We continue to focus on delivering meaningful impact for patients and long-term value for our shareholders.”

Altimmune intends to use the net proceeds towards its upcoming Phase 3 trial in metabolic dysfunction-associated steatohepatitis (MASH) as well as for working capital and general corporate purposes.

Titan Partners, a division of American Capital Partners, acted as the sole placement agent for the offering.

The securities were offered by Altimmune pursuant to an effective shelf registration statement that was previously filed with the U.S. Securities and Exchange Commission (SEC), which was declared effective by the SEC on December 5, 2025. A prospectus supplement relating to the shares of common stock (or pre-funded warrants in lieu thereof) has been filed by the Company with the SEC and is available on the SEC’s website located at www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, by contacting Titan Partners Group LLC, a division of American Capital Partners, LLC, 4 World Trade Center, 49th Floor, New York, NY 10007, by phone at (929) 833-1246 or by email at prospectus@titanpartnersgrp.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Altimmune
Altimmune is a late clinical-stage biopharmaceutical company developing therapies that address serious liver diseases. The Company’s lead candidate, pemvidutide, is a unique dual-action therapy targeting both glucagon and GLP-1 receptors in a balanced 1:1 ratio for the treatment of metabolic dysfunction-associated steatohepatitis (MASH), alcohol use disorder (AUD) and alcohol-associated liver disease (ALD). For more information, please visit www.altimmune.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements regarding the closing of Altimmune’s anticipated public offering. The words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “target” and similar expressions are
intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, uncertainties related to the intended use of proceeds from the offering. These and other risks and uncertainties are described in greater detail in the section entitled “Risk Factors” in Altimmune’s most recent annual report on Form 10-K and quarterly report on Form 10-Q filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Altimmune’s other filings with the SEC. Any forward-looking statements contained in this press release represent Altimmune’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Altimmune explicitly disclaims any obligation to update any forward-looking statements, except as required by law.

Investor Contact:
Lee Roth
Burns McClellan Phone: 646-382-3403
lroth@burnsmc.com

Media Contact: Savannah Valade Real Chemistry
Altimmune@realchemistry.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Altimmune (ALT) announce on January 29, 2026 about financing?

Altimmune closed a registered direct offering that raised approximately $75 million gross. According to the company, the sale involved 17,045,454 shares of common stock or pre-funded warrants and was placed with a new institutional investor.

How will the $75 million raised by Altimmune (ALT) be used?

The company intends to use net proceeds to support its upcoming Phase 3 pemvidutide trial for MASH and for working capital and general corporate purposes. According to the company, funding strengthens the balance sheet and operational flexibility.

What are the terms of the pre-funded warrants in Altimmune's (ALT) offering?

The pre-funded warrants have an exercise price of $0.001 per share and are exercisable immediately upon issuance. According to the company, the warrants will not expire until fully exercised.

Who acted as placement agent for Altimmune's (ALT) registered direct offering?

Titan Partners, a division of American Capital Partners, acted as the sole placement agent for the offering. According to the company, Titan Partners handled placement and prospectus distribution details.

Does Altimmune (ALT) disclose registration and availability of the prospectus supplement?

Yes. According to the company, the securities were offered from an effective shelf registration declared effective Dec 5, 2025, and a prospectus supplement has been filed with the SEC and is available on sec.gov.