Altimmune, Inc. has drawn an additional $10.0 million in funding from its existing $125.0 million loan and security agreement with Hercules Capital. The funds, designated as Tranche Three, were made available after the company achieved specific, undisclosed clinical and financial milestones.
Key Details
- Funding: The company drew $10.0 million in principal on October 27, 2026, from its loan agreement dated May 13, 2025.
- Extended Interest-Only Period: The drawdown extends the loan's interest-only payment period to June 1, 2028.
- New Covenant: The company must now maintain a minimum cash balance equal to at least 60% of the outstanding principal amount of the term loan.
- Associated Fees: A 1.0% Tranche Facility Charge was netted from the funding, and the end-of-term charge remains at 6.25% of the amounts funded.