Altimmune (NASDAQ: ALT), a clinical-stage immunotherapeutics company, recently announced the closing of the sale of common units and pre-funded units for a total of 4,361,370 units in a registered direct offering with two institutional investors resulting in gross proceeds to Altimmune of $14 million. In a March 8, 2019 news release Altimmune disclosed that as of December 31, 2018, it held roughly $34.4 million in cash, cash equivalents and restricted cash. The company plans to use its cash on hand combined with the net proceeds of approximately $12.7 million from this offering toward the continued advancement and development of its product pipeline, strategic growth prospects and general working capital purposes. Roth Capital Partners severed as the sole placement agent for the offering.
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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, the company’s 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. For more information, visit the company’s website at www.Altimmune.com.
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