---
schema_version: "secwatch.filing_event.v1"
accession: "0001326190-25-000031"
form_type: "8-K"
ticker: "ALT"
cik: "0001326190"
company_name: "Altimmune, Inc."
filed_at: "2025-05-13T23:59:59+00:00"
generated_at: "2026-05-21T13:38:55.732140+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Altimmune gets $100M Hercules facility, Q1 cash $150M, MASH data expected Q2 2025

## Summary
- Up to $100M term loan from Hercules; $15M funded at closing, $25M more in 2025 subject to milestones.
- Interest-only for 24 months (extendable to 42); maturity June 1, 2029; no warrants.
- Q1 net loss of $19.6M ($0.26 loss per share) vs $24.4M loss in Q1 2024.
- Cash, equivalents & short-term investments $150M as of Mar 31, 2025; R&D expense $15.8M.
- Top-line IMPACT Phase 2b MASH data expected Q2 2025; Phase 2 AUD/ALD trials expected Q2/Q3 2025.

## SEC filing metadata
- accession: 0001326190-25-000031
- form_type: 8-K
- ticker: ALT
- cik: 0001326190
- company_name: Altimmune, Inc.
- filed_at: 2025-05-13T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.02, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1326190/000132619025000031/0001326190-25-000031-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1326190/000132619025000031/alt-20250513x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001326190-25-000031
- JSON: https://secwatch.observer/filing/0001326190-25-000031.json
- Plain text: https://secwatch.observer/filing/0001326190-25-000031.txt

## Key facts
- Debt Financings
  Altimmune, Inc. incurred term loan of $15.0 million with Hercules Capital, Inc. at greater of (a) the prime rate as reported in The Wall Street Journal plus 2.45% maturing June 1, 2029.
  - Instrument: term loan
  - Principal: $15.0 million
  - Counterparty: Hercules Capital, Inc.
  - Rate: greater of (a) the prime rate as reported in The Wall Street Journal plus 2.45%
  - Maturity: June 1, 2029
  - Event: incurrence
  source text: first Term Loan tranche was made on the Closing Date in an aggregate principal amount of $15.0 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1326190/000132619025000031/0001326190-25-000031-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.