Altimmune Inc. (NASDAQ: ALT) announced the pricing of an oversubscribed public offering expected to generate approximately $225 million in gross proceeds before fees and expenses.

The biopharmaceutical company will sell 64.25 million shares of common stock with accompanying warrants at $3.00 per combined unit. The offering also includes an option for certain investors to purchase pre-funded warrants instead of common stock at $2.999 per unit combined with accompanying warrants.

Each accompanying warrant allows the holder to purchase one share of common stock at $3.00 per share. The warrants become exercisable immediately upon issuance and expire on the earlier of five years from the original issuance date or 45 days following a successful Phase 3 trial data readout for the company's pemvidutide treatment in metabolic dysfunction-associated steatohepatitis.

The offering is scheduled to close on or about April 24, 2026, subject to customary closing conditions. Leerink Partners and Barclays serve as joint bookrunning managers, with Titan Partners acting as co-bookrunning manager.

Altimmune stated it intends to use the net proceeds to fund its upcoming Phase 3 trial for pemvidutide in treating liver disease, as well as for working capital and general corporate purposes. The company develops pemvidutide as a dual-action therapy targeting glucagon and GLP-1 receptors for serious liver diseases.

The securities are being offered under shelf registration statements previously filed with the Securities and Exchange Commission and declared effective in December 2025 and March 2025.