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Altimmune closes acquisition of Spitfire Pharma.

Altimmune announced the closing of the previously announced acquisition of Spitfire Pharma, Inc., including the product candidate ALT-801, a potent GLP-1/Glucagon receptor co-agonist for the treatment of non-alcoholic steatohepatitis. In connection with the closing, Altimmune will issue 1,887,250 unregistered shares of its common stock as upfront consideration, representing an amount equal to $5M less working capital and transaction expense adjustment amounts. The number of shares to be issued was determined based on the average of the closing prices of the Company's common stock as reported on the Nasdaq Global Market for the twenty consecutive trading days prior to and including July 8, 2019, the date the definitive agreement was signed.

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Publication:The Fly
Date:Jul 15, 2019
Words:113
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