• So far in September and October of 2018 Altimmune has raised over $60 million
• On 10/6/18 the company presented data that showed that the company's NasoVAX was well-tolerated and elicited comparable antibody responses and nearly sixfold higher cellular immune response than Sanofi's Fluzone injectable influenza vaccine

Altimmune, Inc. (Nasdaq: ALT) announced on 10/8/16 it has entered into a purchase agreement with several institutional investors for the purchase of common units and pre-funded units for a combined total of 4,629,630 units in a registered direct offering, for expected gross proceeds of approximately $25 million before placement agent fees and other offering expenses payable by Altimmune.

Each common unit is being sold at a public offering price of $5.40 and consists of one share of common stock and a warrant to purchase one share of common stock at an exercise price of $5.40. Each pre-funded unit is being sold at a public offering price of $5.39 and consists of a pre-funded warrant to purchase one share of common stock at an exercise price of $0.01 per share and a warrant to purchase one share of common stock at an exercise price of $5.40. The public offering price of each pre-funded unit is equal to the public offering price of each common unit being sold to the public in this offering, minus $0.01. The pre-funded warrants will be immediately exercisable and may be exercised at any time until all of the pre-funded warrants are exercised in full. The other warrants will be exercisable immediately and will expire five years from the date of issuance. The terms of the warrants and the pre-funded warrants will be substantially the same as the terms of the warrants and the pre-funded warrants issued in connection with the Company’s public offering completed October 2, 2018.

The offering is expected to close on or about October 10, 2018, subject to customary closing conditions.  Altimmune intends to use the net proceeds from this offering for the continued advancement of development activities for its clinical-stage product pipeline, general corporate purposes and strategic growth opportunities.

Altimmune currently has five products in development. On 10/6/18 the company presented data that showed that NasoVAX was well-tolerated and elicited comparable antibody responses and nearly sixfold higher cellular immune response than Sanofi's Fluzone injectable influenza vaccine.
So far in September and October of 2018 the company has raised over $60 million.