GAITHERSBURG, Md., March 12, 2019 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq: ALT), a clinical-stage immunotherapeutics company, today announced the closing of the previously announced registered direct offering of common units and pre-funded units receiving gross proceeds of $14 million.
On March 8, 2019, the Company disclosed approximately $34.4 million in cash, cash equivalents and restricted cash as of December 31, 2018. Altimmune intends to use the cash on hand together with the net proceeds of approximately $12.7 million from this offering for the continued advancement and development activities for its product pipeline, strategic growth opportunities (including potential acquisitions and/or licensing transactions), and general working capital purposes.
Roth Capital Partners acted as sole placement agent for the offering.
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 disease. HepTcell is a synthetic peptide immunotherapeutic candidate designed to break immune tolerance in chronic Hepatitis B infection. ALT-702, a TLR7/8 agonist conjugate, is an immunostimulant product candidate that has the potential to safely elicit or improve immune responses in a variety of tumor types. NasoVAX, our influenza vaccine candidate, has unique characteristics that stimulate multiple arms of the immune system and offers the potential to stop infection and the spread of flu, while being easier to administer through an intranasal spray. NasoShield is a next-generation intranasal anthrax vaccine candidate that is intended to improve protection and safety while having favorable dosage and storage properties compared to other anthrax vaccines. By leveraging the complementary attributes of its proprietary technology platforms, Altimmune is able to design and develop immunotherapeutic products tailored to address a wide range of disease indications including both acute and chronic infections and cancer.
