Altimmune Secures Up to $100 Million in Credit Facility from Hercules Capital
Altimmune (ALT) has secured a credit facility of up to $100 million from Hercules Capital (HTGC), with an initial $15 million tranche funded at closing. The company, which had $150 million in cash as of March 31, 2025, will use the funds to support the development of pemvidutide, its GLP-1/glucagon dual receptor agonist. The remaining tranches include $25 million available in 2025 and $60 million in 2026, subject to clinical and financial milestones.
Pemvidutide is currently in a Phase 2b IMPACT trial for MASH with top-line data expected in Q2 2025. The company also plans to initiate Phase 2 trials for Alcohol Use Disorder and Alcohol Liver Disease in Q2 and Q3 2025. The loan features interest-only payments for 24 months (extendable to 42 months) and matures in 48 months.
Altimmune (ALT) ha ottenuto una linea di credito fino a 100 milioni di dollari da Hercules Capital (HTGC), con una prima tranche di 15 milioni di dollari erogata al momento della chiusura. La società, che al 31 marzo 2025 disponeva di 150 milioni di dollari in contanti, utilizzerà questi fondi per sostenere lo sviluppo di pemvidutide, il suo agonista duale dei recettori GLP-1/glucagone. Le tranche rimanenti comprendono 25 milioni di dollari disponibili nel 2025 e 60 milioni di dollari nel 2026, subordinati al raggiungimento di obiettivi clinici e finanziari.
Pemvidutide è attualmente in una fase 2b dello studio IMPACT per MASH, con i dati principali attesi nel secondo trimestre del 2025. La società prevede inoltre di avviare studi di fase 2 per il Disturbo da Uso di Alcol e la Malattia Epatica Alcolica nel secondo e terzo trimestre del 2025. Il prestito prevede pagamenti di soli interessi per 24 mesi (prorogabili fino a 42 mesi) e scade dopo 48 mesi.
Altimmune (ALT) ha asegurado una línea de crédito de hasta 100 millones de dólares de Hercules Capital (HTGC), con un primer tramo de 15 millones de dólares financiado al cierre. La compañía, que contaba con 150 millones de dólares en efectivo al 31 de marzo de 2025, utilizará los fondos para apoyar el desarrollo de pemvidutide, su agonista dual de receptores GLP-1/glucagón. Los tramos restantes incluyen 25 millones de dólares disponibles en 2025 y 60 millones de dólares en 2026, sujetos a hitos clínicos y financieros.
Pemvidutide se encuentra actualmente en un ensayo IMPACT de fase 2b para MASH, con datos principales esperados en el segundo trimestre de 2025. La compañía también planea iniciar ensayos de fase 2 para el Trastorno por Consumo de Alcohol y la Enfermedad Hepática Alcohólica en el segundo y tercer trimestre de 2025. El préstamo incluye pagos solo de intereses durante 24 meses (prorrogables hasta 42 meses) y vence en 48 meses.
Altimmune (ALT)는 Hercules Capital (HTGC)으로부터 최대 1억 달러의 신용 시설을 확보했으며, 초기 1,500만 달러가 계약 체결 시에 자금 지원되었습니다. 2025년 3월 31일 기준 현금 1억 5,000만 달러를 보유한 이 회사는 GLP-1/글루카곤 이중 수용체 작용제인 펨비두타이드 개발을 지원하기 위해 자금을 사용할 예정입니다. 나머지 트랜치는 2025년에 2,500만 달러, 2026년에 6,000만 달러가 임상 및 재무 목표 달성에 따라 제공됩니다.
펨비두타이드는 현재 MASH에 대한 2b상 IMPACT 임상시험 중이며, 주요 결과는 2025년 2분기에 발표될 예정입니다. 회사는 또한 2025년 2분기와 3분기에 알코올 사용 장애 및 알코올성 간질환에 대한 2상 시험을 시작할 계획입니다. 대출은 24개월 동안 이자만 납부하는 조건(최대 42개월까지 연장 가능)이며, 만기는 48개월입니다.
Altimmune (ALT) a obtenu une facilité de crédit allant jusqu'à 100 millions de dollars auprès de Hercules Capital (HTGC), avec une première tranche de 15 millions de dollars financée à la clôture. La société, qui disposait de 150 millions de dollars en liquidités au 31 mars 2025, utilisera ces fonds pour soutenir le développement de pemvidutide, son agoniste double des récepteurs GLP-1/glucagon. Les tranches restantes comprennent 25 millions de dollars disponibles en 2025 et 60 millions de dollars en 2026, sous réserve de jalons cliniques et financiers.
Pemvidutide est actuellement en essai IMPACT de phase 2b pour le MASH, avec des données principales attendues au deuxième trimestre 2025. La société prévoit également de lancer des essais de phase 2 pour le trouble lié à l'usage d'alcool et la maladie hépatique alcoolique au deuxième et troisième trimestre 2025. Le prêt prévoit des paiements d'intérêts uniquement pendant 24 mois (prolongeables jusqu'à 42 mois) et arrive à échéance en 48 mois.
Altimmune (ALT) hat eine Kreditfazilität von bis zu 100 Millionen US-Dollar von Hercules Capital (HTGC) erhalten, wobei eine anfängliche Tranche von 15 Millionen US-Dollar bei Abschluss finanziert wurde. Das Unternehmen, das zum 31. März 2025 über 150 Millionen US-Dollar in bar verfügte, wird die Mittel zur Unterstützung der Entwicklung von Pemvidutide, seinem GLP-1/Glucagon-Dualrezeptor-Agonisten, verwenden. Die verbleibenden Tranchen umfassen 25 Millionen US-Dollar im Jahr 2025 und 60 Millionen US-Dollar im Jahr 2026, abhängig von klinischen und finanziellen Meilensteinen.
Pemvidutide befindet sich derzeit in einer Phase-2b-IMPACT-Studie für MASH, mit Topline-Daten, die im zweiten Quartal 2025 erwartet werden. Das Unternehmen plant außerdem, Phase-2-Studien für Alkoholgebrauchsstörung und alkoholbedingte Lebererkrankungen im zweiten und dritten Quartal 2025 zu starten. Das Darlehen sieht 24 Monate Zinszahlungen vor (verlängerbar auf 42 Monate) und hat eine Laufzeit von 48 Monaten.
- Secured up to $100M credit facility with favorable terms (no warrants, interest-only period)
- Strong cash position of $150M as of March 31, 2025
- Extended cash runway to support pemvidutide development
- Multiple clinical milestones expected in 2025 (MASH data and new trials initiation)
- Additional funding tranches dependent on achieving clinical and financial milestones
- Increased debt burden could impact financial flexibility
Insights
Altimmune secured $100M credit facility from Hercules Capital, significantly extending cash runway for pemvidutide development with favorable terms.
Altimmune's new
The absence of warrants in this agreement is particularly positive, as it avoids potential dilution for existing shareholders. With
Pemvidutide, a GLP-1/glucagon dual receptor agonist, is positioned in the highly competitive but lucrative GLP-1 therapeutic space. The upcoming Q2 2025 readout from the Phase 2b IMPACT trial in MASH (Metabolic dysfunction-associated steatohepatitis) represents a critical near-term catalyst. Additionally, the company is expanding pemvidutide's potential applications with planned Phase 2 trials in Alcohol Use Disorder and Alcohol Liver Disease later in 2025.
This financing provides breathing room through multiple clinical readouts, allowing management to potentially negotiate from a position of strength regarding future partnerships or financing if clinical data proves positive. The staggered availability of capital aligns funding with clinical progress, creating a more capital-efficient development pathway while maintaining flexibility.
Term loan adds balance sheet strength and provides financial flexibility to support continued development of pemvidutide
GAITHERSBURG, Md., May 13, 2025 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq: ALT), a late clinical-stage biopharmaceutical company developing novel peptide-based therapeutics for liver and cardiometabolic diseases, today announced that it has entered into an agreement with Hercules Capital, Inc. (NYSE: HTGC), a leader in debt financing for life science companies, for up to
Access to this additional capital strengthens Altimmune’s balance sheet, which included
Vipin K. Garg, Ph.D., President and Chief Executive Officer of Altimmune said, “We are excited to partner with Hercules, which has a strong history of funding innovative biopharmaceutical companies. We look forward to working with the Hercules team to maximize the potential of pemvidutide in liver and cardiometabolic indications. With our existing cash on hand, we expect this credit facility to significantly extend our cash runway at flexible, attractive terms.”
“Hercules is thrilled to support Altimmune as it develops pemvidutide as a potential therapy for the treatment of MASH, AUD and ALD,” said Adam Soller, Managing Director at Hercules Capital. “We look forward to the upcoming data release from the IMPACT trial and serving as a long-term capital partner to Altimmune through its next chapter of clinical development.”
Under the terms of the agreement,
About Altimmune
Altimmune is a late clinical-stage biopharmaceutical company focused on developing novel peptide-based therapeutics for liver and cardiometabolic diseases. The Company’s lead program is pemvidutide, a GLP-1/glucagon dual receptor agonist for the treatment of MASH, obesity, Alcohol Use Disorder (AUD) and Alcohol Liver Disease (ALD). For more information, please visit www.altimmune.com.
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Company Contact:
Greg Weaver
Chief Financial Officer
Phone: 240-654-1450
ir@altimmune.com
Investor Contact:
Lee Roth
Burns McClellan
Phone: 646-382-3403
lroth@burnsmc.com
Media Contact:
Jake Robison
Inizio Evoke, Biotech
Phone: 619-849-5383
jake.robison@inizioevoke.com
This press release was published by a CLEAR® Verified individual.
FAQ
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