GAITHERSBURG, Md., Oct. 03, 2018 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq: ALT), a clinical-stage immunotherapeutics company, today announced it closed the previously announced underwritten public offering of common units and pre-funded units for gross proceeds of $12 million. Together with the Company’s registered direct offering announced on September 24, the Company received aggregate gross proceeds of $16.9 million.
"We are pleased with the outcome of our fundraising efforts,” said William J. Enright, President and Chief Executive Officer of Altimmune. “These proceeds strengthen our balance sheet and position us well as we continue the development of NasoVax and our other product candidates.”
Altimmune intends to use the net proceeds of approximately $14.4 million from these offerings for the continued advancement of development activities for the Company’s clinical-stage product pipeline, general corporate purposes, strategic growth opportunities and repayment of the Company’s outstanding $1.5 million in aggregate principal amount of convertible notes.
Roth Capital Partners acted as sole manager for the underwritten public offering and sole placement agent for the registered direct offering.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, 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 clinical-stage immunotherapeutics company focused on the development of products to stimulate robust and durable immune responses for the prevention and treatment of infectious disease. NasoVAX our influenza vaccine candidate has unique characteristics, stimulating multiple arms of the immune system that offer the potential to stop infection and the spread of flu, while being easier to administer through an intranasal spray. NasoShield is a next-generation anthrax vaccine candidate that is intended to improve protection and safety while having favorable dosage and storage requirements compared to other anthrax vaccines.
