On October 11, 2018 Altimmune, Inc. (Nasdaq: ALT), a clinical-stage immunotherapeutics company, reported it has closed a registered direct offering of common units and pre-funded units for gross proceeds of approximately $25 million (Press release, Altimmune, OCT 11, 2018, View Source [SID1234529903]). Together with Altimmune’s registered direct offering announced on September 24 and follow-on offering announced September 28, the company received aggregate gross proceeds of $41.9 million.

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"We are pleased with the outcome of our fundraising efforts," said William J. Enright, President and Chief Executive Officer of Altimmune. "These proceeds strengthen our balance sheet and position us well as we continue the development of NasoVax and our other product candidates."

Altimmune intends to use the proceeds from these offerings for the continued advancement of development activities for the Company’s clinical-stage product pipeline, general corporate purposes, strategic growth opportunities and repayment of the Company’s outstanding $1.5 million in aggregate principal amount of convertible notes.

ROTH Capital Partners acted as sole manager for the underwritten public offering and sole placement agent for both registered direct offerings.