Rocket Pharmaceuticals Secures Strategic Credit Facility for Up to $150 Million from Hercules Capital
Key Highlights
- ➤Rocket secures credit facility for up to $150 million from Hercules Capital (HTGC)
- ➤Rocket receives $35 million at closing under the financing agreement
- ➤Rocket expects cash resources to fund operations into third quarter 2028
- ➤Additional borrowings could extend Rocket’s cash runway into 2029
- ➤Financing supports Rocket’s pivotal Phase 2 Danon disease study
Expert Statements
Gaurav Shah, M.D., Chief Executive Officer of Rocket Pharmaceuticals
“Building on the sale of our priority review voucher, this financing diversifies our sources of capital and strengthens our ability to execute and deliver on our cardiovascular strategy.”
Gaurav Shah, M.D., Chief Executive Officer of Rocket Pharmaceuticals
“The staged structure provides flexibility to align additional funding with progress across our programs.”
Gaurav Shah, M.D., Chief Executive Officer of Rocket Pharmaceuticals
“We remain focused on allocating capital thoughtfully, executing the pivotal Danon study and advancing genetic medicines for patients with serious inherited heart diseases”
R. Bryan Jadot, Senior Managing Director and Group Head of Life Sciences at Hercules Capital
“Rocket is advancing toward important milestones across its cardiovascular pipeline, led by the pivotal Danon program”
R. Bryan Jadot, Senior Managing Director and Group Head of Life Sciences at Hercules Capital
“We are pleased to provide a flexible financing solution that supports the Company’s development priorities. We look forward to working alongside Rocket as it builds on its expertise in cardiovascular genetic medicines.”
Rocket Pharmaceuticals Secures Strategic Credit Facility for Up to $150 Million from Hercules Capital
Rocket Pharmaceuticals, Inc. (NASDAQ: RCKT), a fully integrated, commercial-stage biotechnology company advancing genetic medicines for rare and life-threatening diseases, focused on inherited cardiovascular disorders, today announced that it has entered into a credit facility agreement with Hercules Capital, Inc. (NYSE: HTGC) for up to $150 million. The facility strengthens Rocket’s financial position and provides access to additional capital to support execution of its pivotal Phase 2 study of RP-A501 for Danon disease and continued advancement of its broader cardiovascular pipeline.
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