Altimmune Closes $225 Million Public Offering to Fund Liver Disease Research

Key Facts

Altimmune, Inc. has finalized an oversubscribed public offering of securities, raising $225 million in immediate gross proceeds. The offering involved 64,250,000 shares and accompanying warrants, drawing participation from major institutional investors including Deep Track Capital and Viking Global Investors. The company intends to utilize the capital to fund the clinical development of pemvidutide, specifically targeting serious liver diseases. This financing is expected to sustain operations through the anticipated Phase 3 MASH 52-week data readout milestone. While the capital raise provides a significant runway for clinical trials, public offerings of this nature typically result in share dilution for existing stockholders. This strategic move ensures the company is well-capitalized to reach its upcoming scientific and regulatory objectives in the biotechnology sector.