Investors & Media Press Releases
Axovant Announces Amendment to Credit Facility with Hercules Capital
- New loan amendment reduces loan obligation by 50% without penalty, eliminates minimum cash covenant, and extends interest-only period for 9 months
- Debt service burden reduced by approximately
$2.0 millionper month during interest-only period
“We are very pleased with the new facility and greatly appreciate the support of Hercules as we continue to strengthen our financial position. The amendment lowers our monthly spend by approximately
Roivant Sciences aims to improve health by rapidly delivering innovative medicines and technologies to patients. It does this by building Vants – nimble, entrepreneurial biotech and healthcare technology companies with a unique approach to sourcing talent, aligning incentives, and deploying technology to drive greater efficiency in R&D and commercialization. For more information, please visit www.roivant.com.
This press release contains forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 and other federal securities laws. The use of words such as "may," "might," "will," "would," "should," "expect," "believe," "estimate," and other similar expressions are intended to identify forward-looking statements. For example, all statements Axovant makes regarding the initiation, timing, progress, costs and reporting of results of its pipeline programs, as well as statements regarding anticipated cost savings, capital allocation, and debt reduction associated with the amendment to the Hercules loan and security agreement, are forward-looking. All forward-looking statements are based on estimates and assumptions by Axovant’s management that, although Axovant believes to be reasonable, are inherently uncertain. Actual financial and clinical results and other situations of the future may differ materially from those presented in this press release due to various known and unknown factors. For more information with respect to the risks and uncertainties related to any forward-looking statements, please refer to Axovant’s filings with the
Media and Investors
Source: Axovant Sciences Ltd.