India, Jan. 28 -- Altimmune, Inc. (ALT), a late clinical-stage biopharmaceutical company, said it entered into an agreement with a new fundamental institutional investor for the purchase and sale of 17.05 million common stock or as pre-funded warrants.
The gross proceeds of the offering is estimated to be approximately $75 million, which Altimmune plans to use to fund preparation for its upcoming Phase 3 trial of pemvidutide for metabolic dysfunction-associated steatohepatitis (MASH), as well as for working capital and general corporate purposes.
The offering is expected to close on or about January 29, 2026.
Following the announcement of the offering price, ALT is plunging 15.86% to $5.21.
Titan Partners, a division of American Capital...