Altimmune (ALT) said Tuesday it entered into an agreement with Hercules Capital (HTGC) for a credit facility of up to $100 million, with $15 million funded at closing.

The company said additional funding will be tied to the achievement clinical and financial milestones for pemvidutide, its GLP-1 agonist.

Pemvidutide is currently being evaluated in a mid-stage study for metabolic dysfunction-associated steatohepatitis, with results expected in Q2 and additional phase 2 trials in alcohol use disorder and alcohol liver disease planned for later this year.

Altimmune said the new facility will strengthen its balance sheet, which included $150 million in cash and cash equivalents as of March 31.

Shares of Altimmune rose 1.5% in premarket trading.