Monitor the pricing and final size of this offering, as it will impact immediate dilution and the company's cash runway to fund the pivotal Phase 3 MASH trial. The success of the offering is critical for advancing their lead program.
Price Chart
Executive Summary
Altimmune is conducting a follow-on public offering of common stock, pre-funded warrants, and common stock warrants to raise capital. The proceeds will primarily fund the upcoming Phase 3 trial for pemvidutide in MASH and general corporate purposes. This offering follows a recent shelf registration and a charter amendment to increase authorized shares.
Key Facts
- Company is offering shares of common stock, pre-funded warrants, and common stock warrants pursuant to a shelf registration.
- Proceeds will be used to fund the upcoming Phase 3 trial for pemvidutide in MASH and for working capital and general corporate purposes.
- The offering is supported by a recent shelf registration (S-3/A filed Nov 13, 2025) and a charter amendment (filed April 16, 2026) to increase authorized shares from 200M to 400M.
- There is no established public trading market for the pre-funded or common stock warrants being offered.
- The company recently received Breakthrough Therapy Designation from the FDA for pemvidutide in MASH based on positive Phase 2b data.
Financial Impact
The offering will raise capital from the sale of common stock and warrants, with net proceeds estimated before expenses. The full shelf registration allows for up to $400 million.
Risk Factors
- Significant immediate dilution for new investors purchasing common stock.
- Future sales of common stock under the ATM program or other offerings could further dilute existing shareholders.
- The company is a smaller reporting company with limited financial resources, making it dependent on future financings.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001326190-26-000031 |
| Document: 0001326190-26-000031-index-headers.html | 0001326190-26-000031 |
| Document: 0001326190-26-000031-index.html | 0001326190-26-000031 |
| Document: 0001326190-26-000031.txt | 0001326190-26-000031 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 29, 2026 27d ago | 8-K | $2.97 $2.67 | ▼ −10.10% | ▼ −12.05% | $2.09 (−29.63%) |
Aug 12, 2026 10w ago | 8-K | $2.93 $3.12 | ▲ +6.48% | ▲ +6.93% | $2.09 (−28.67%) |
Aug 12, 2026 10w ago | Press Release | $2.93 $3.12 | ▲ +6.48% | ▲ +6.93% | $2.09 (−28.67%) |
Aug 6, 2026 11w ago | Institutional Cluster | $3.01 $2.88 | ▼ −4.32% | ▼ −5.53% | $2.09 (−30.56%) |
Aug 5, 2026 11w ago | Press Release | $3.03 $2.93 | ▼ −3.30% | ▼ −3.65% | $2.09 (−31.02%) |
Aug 3, 2026 12w ago | Press Release | $3.00 $3.05 | ▲ +1.67% | ▼ −0.36% | $2.09 (−30.33%) |
Jul 28, 2026 12w ago | 8-K | $2.99 $3.00 | ▲ +0.33% | ▼ −1.93% | $2.09 (−30.10%) |
May 28, 2026 21w ago | Press Release | $3.07 $2.87 | ▼ −6.51% | ▼ −6.47% | $2.09 (−31.92%) |
May 27, 2026 21w ago | Press Release | $2.98 $2.90 | ▼ −2.68% | ▼ −3.89% | $2.09 (−29.87%) |
May 13, 2026 23w ago | 8-K | $3.02 $2.74 | ▼ −9.27% | ▼ −8.11% | $2.09 (−30.79%) |
US Market Status
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