Altimmune Inc. (NASDAQ: ALT) announced it has commenced an underwritten public offering of common stock shares and accompanying warrants, according to a company statement.

The biopharmaceutical company plans to offer shares of common stock with accompanying warrants to purchase an equivalent number of shares. The company may also offer pre-funded warrants in lieu of common stock to certain investors. All securities in the proposed offering are being sold by Altimmune.

The company intends to use net proceeds from the offering to fund its upcoming Phase 3 trial for pemvidutide in metabolic dysfunction-associated steatohepatitis (MASH), as well as for working capital and general corporate purposes.

Leerink Partners and Barclays are serving as joint bookrunning managers for the proposed offering, while Titan Partners is acting as co-bookrunning manager.

The securities are being offered under two effective shelf registration statements on Form S-3 previously filed with the Securities and Exchange Commission. The SEC declared these statements effective on December 5, 2025, and March 13, 2025, respectively.

Altimmune develops therapies for patients with liver diseases. The company's lead candidate, pemvidutide, targets both glucagon and GLP-1 receptors and is in development for treating MASH, alcohol use disorder, and alcohol-associated liver disease.

The proposed offering is subject to market and other conditions. The company stated there can be no assurance as to whether or when the offering may be completed or the actual terms.