Hercules Capital, Inc. (NYSE: HTGC) announced on May 13, 2025, that it has entered into an agreement to provide Altimmune, Inc. with up to $100 million in a credit facility. This financing aims to strengthen Altimmune's balance sheet and support the ongoing development of its lead program, pemvidutide.
A $15 million tranche was funded at closing, with additional tranches becoming available upon the achievement of certain clinical and financial milestones. Pemvidutide is currently being studied in a Phase 2b trial for metabolic dysfunction-associated steatohepatitis (MASH), with top-line data expected in Q2 2025.
The facility is structured with an interest-only period for the first 24 months, extendable up to 42 months upon achieving milestones, and matures in 48 months. This partnership underscores Hercules Capital's commitment to funding innovative biopharmaceutical companies and their clinical development plans.
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