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.

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.

  • 1Rocket agreed to a facility worth up to $150m with Hercules Capital.
  • 2Rocket received an initial $35m draw when the facility closed.
  • 3An optional $35m borrowing is available during specified periods, subject to the agreement's terms.
  • 4A $30m tranche depends on a clinical milestone in the Danon programme, while the final $50m requires Hercules Capital investment-committee approval.
  • 5The agreement starts with a 30-month interest-only period and has a 48-month maturity, with milestone-based extensions available.
  • 6Rocket issued warrants for up to 1,755,853 common shares at $2.99 per share to the lenders.

Sources