Rocket Pharmaceuticals obtains up to $150m Hercules credit facility
Rocket Pharmaceuticals arranged a credit facility of up to $150m with Hercules Capital to finance its Danon disease programme and cardiovascular development work. The company drew $35m at closing and said its available resources should cover operations into the third quarter of 2028, with later borrowings potentially carrying funding into 2029. Rocket held $283.7m across cash, cash equivalents and investments at 30 June 2026.
Why it matters
The facility gives Rocket a non-equity funding source while it conducts the pivotal Phase 2 study of RP-A501. The company expects the financing and existing resources to support operations into the third quarter of 2028, while access beyond that point depends on future borrowing conditions and draws.
Key facts
- 1Rocket agreed to a facility worth up to $150m with Hercules Capital. finance.yahoo.com
- 2Rocket received an initial $35m draw when the facility closed. finance.yahoo.com
- 3An optional $35m borrowing is available during specified periods, subject to the agreement's terms. finance.yahoo.com
- 4A $30m tranche depends on a clinical milestone in the Danon programme, while the final $50m requires Hercules Capital investment-committee approval. finance.yahoo.com
- 5The agreement starts with a 30-month interest-only period and has a 48-month maturity, with milestone-based extensions available. finance.yahoo.com
- 6Rocket issued warrants for up to 1,755,853 common shares at $2.99 per share to the lenders. tipranks.com
Summary written by AlphAI from 8 of 8 sources. Not investment advice. Figures are as stated by the linked sources.