Rocket Pharmaceuticals secures $150M credit facility with Hercules Capital

Rocket Pharmaceuticals, Inc. (NASDAQ: RCKT) has entered into a credit facility agreement with Hercules Capital, Inc. (NYSE: HTGC) for up to $150 million, according to a company press release.

Rocket received $35 million at closing. An additional $35 million may be drawn at the company's option during specified periods, subject to terms and conditions. A further $30 million may become available upon achievement of a specified clinical milestone related to its Danon disease program, and an additional $50 million is subject to Hercules' investment committee approval.

The facility carries an initial 30-month interest-only period and a 48-month maturity, with extensions available upon achievement of specified milestones. The agreement also includes warrants to purchase shares of Rocket's common stock.

As of June 30, 2026, Rocket reported cash, cash equivalents, and investments of $283.7 million. The company said its current resources, combined with the initial $35 million draw, are expected to fund operations into the third quarter of 2028. Additional borrowings under the facility could extend that runway into 2029, subject to applicable borrowing conditions.

Rocket said proceeds will support its pivotal Phase 2 study of RP-A501 for Danon disease and its broader cardiovascular pipeline. LifeSci Capital served as financial advisor to Rocket on the transaction, and PJT served as capital markets advisor.

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