The draw extends Altimmune's cash runway through the interest-only period to mid-2028. Monitor upcoming clinical data readouts and the next quarterly filing for cash burn rate and whether further tranches will be drawn.
Price Chart
Executive Summary
Altimmune drew $10.0 million (Tranche Three) from its existing $125.0 million loan facility with Hercules Capital, triggered by clinical and financial milestones. The draw extends the interest-only period to June 2028 and imposes a minimum cash covenant equal to 60% of outstanding principal.
Key Facts
- Altimmune drew $10.0 million in Tranche Three from its $125.0 million Loan and Security Agreement with Hercules Capital, Inc.
- The draw was triggered by achievement of specified clinical and financial milestones (the Tranche 3 Milestone).
- The amortization date and interest-only period were extended to June 1, 2028.
- A minimum cash covenant requires Altimmune to maintain Qualified Cash at or above 60% of outstanding principal.
- A 1.0% Tranche Facility Charge was netted from the funding; the end-of-term charge remains 6.25% of amounts funded.
Financial Impact
$10.0 million drawn from existing $125.0 million facility; 1.0% facility charge netted; 6.25% end-of-term charge on funded amounts.
Risk Factors
- The minimum cash covenant (60% of outstanding principal) could constrain cash deployment if the company draws additional tranches.
- The end-of-term charge of 6.25% adds to total borrowing cost.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001326190-26-000060 |
| Document: 0001326190-26-000060-index-headers.html | 0001326190-26-000060 |
| Document: 0001326190-26-000060-index.html | 0001326190-26-000060 |
| Document: 0001326190-26-000060.txt | 0001326190-26-000060 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | 8-K | $2.14 | awaiting T+5 | awaiting T+5 | $2.04 (−4.67%) |
Oct 27, 2026 5d ago | 8-K | $2.04 | awaiting T+5 | awaiting T+5 | $2.04 (−0.00%) |
Sep 29, 2026 4w ago | 8-K | $2.97 $2.67 | ▼ −10.10% | ▼ −12.05% | $2.04 (−31.31%) |
Aug 12, 2026 11w ago | 8-K | No price | awaiting T+5 | awaiting T+5 | No price |
Aug 12, 2026 11w ago | Press Release | $2.93 $3.12 | ▲ +6.48% | ▲ +6.93% | $2.04 (−30.38%) |
Aug 6, 2026 12w ago | Institutional Cluster | $3.01 $2.88 | ▼ −4.32% | ▼ −5.53% | $2.04 (−32.23%) |
Aug 5, 2026 12w ago | Press Release | $3.03 $2.93 | ▼ −3.30% | ▼ −3.65% | $2.04 (−32.67%) |
Aug 3, 2026 12w ago | Press Release | $3.00 $3.05 | ▲ +1.67% | ▼ −0.36% | $2.04 (−32.00%) |
Jul 28, 2026 13w ago | 8-K | $2.99 $3.00 | ▲ +0.33% | ▼ −1.93% | $2.04 (−31.77%) |
May 28, 2026 22w ago | Press Release | $3.07 $2.87 | ▼ −6.51% | ▼ −6.47% | $2.04 (−33.55%) |
US Market Status
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