Monitor upcoming Phase 3 trial enrollment and clinical data timelines for pemvidutide in MASH, as successful results would be the key catalyst for value creation from this capital raise. Watch for any insider trading activity after the 90-day lock-up period expires.
Price Chart
Executive Summary
Altimmune is raising $211.5 million through a public offering of 64.25 million shares of common stock and 75 million common stock warrants, priced at $3.00 per share. The proceeds will fund the Phase 3 trial of pemvidutide for MASH and general corporate purposes. This is a dilutive capital raise following a recent share authorization increase.
Key Facts
- Offering 64.25 million shares of common stock and 75 million common stock warrants at $3.00 per share
- Expected net proceeds of $211.5 million after underwriting discounts and expenses
- Proceeds to fund Phase 3 trial of pemvidutide for MASH and general corporate purposes
- Recent charter amendment increased authorized shares from 200M to 400M
- Common stock warrants have an exercise price of $3.00 and expire on the earlier of 5 years or 45 days after a successful Phase 3 data readout
- No established market for the warrants; they will not be listed
Financial Impact
$211.5 million in net proceeds from issuing 64.25 million new shares at $3.00 per share, with potential for additional $225 million if all warrants are exercised
Risk Factors
- Significant dilution to existing shareholders from the share issuance
- Future dilution if warrants are exercised or additional ATM offerings occur
- Clinical trial risk for pemvidutide in MASH indication
- No guaranteed market for the warrants, limiting liquidity
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001104659-26-047979 |
| Document: 0001104659-26-047979-index-headers.html | 0001104659-26-047979 |
| Document: 0001104659-26-047979-index.html | 0001104659-26-047979 |
| Document: 0001104659-26-047979.txt | 0001104659-26-047979 |
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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