Biotech firm Altimmune raises $225 million in a public offering, boosting its cash balance to $535 million ahead of Phase III MASH trial.
Altimmune completed an oversubscribed public offering in April, raising $225 million in gross proceeds. The funding, combined with existing reserves, increased its cash balance to approximately $535 million as of Q1 2026.
The company plans to initiate its PERFORMA Phase III trial for metabolic dysfunction-associated steatohepatitis (MASH) in the second half of 2026. The extended cash runway is projected to support operations through 2029, aligning with key clinical milestones.
Management confirmed the funding positions Altimmune to advance its pipeline without immediate capital needs, focusing on late-stage development.