By Chris Wack
Altimmune shares dropped after the biopharmaceutical company priced an underwritten public offering consisting of 64.3 million shares and accompanying warrants to buy 64.3 million shares.
Shares were 16% lower, at $2.93, in premarket trading.
The Gaithersburg, Md., company said the stock and pre-funded warrants are being sold in combination with an accompanying stock warrant to buy one share of stock or pre-funded warrant sold.
The accompanying common stock warrant has an exercise price of $3 a share and is immediately exercisable from the date of issuance, the company said.
The combined offering price of each share and accompany common stock warrant is $3, it added.
The offering is expected to close on or about Friday and all shares and warrants in the offering are being sold by Altimmune, the company said.
Altimmune said it intends to use the proceeds from this offering to fund its upcoming Phase 3 trial in metabolic dysfunction-associated steatohepatitis, as well as for working capital and general corporate purposes.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
April 23, 2026 08:00 ET (12:00 GMT)
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