Convertible notes, term loans, credit facilities, note sales and other debt raised by public biotech companies, newest first. Every story names the lenders and links its primary source.
Convertible notes ·
Horizon Technology Finance is collateral agent and a lender on the amended loan. The new Loan I and Loan J commitments run to December 31, 2027.
PTHSA trading board being updated by hand. Photo: Carol M Highsmith, CC0, via rawpixel
Debt Financing
The 0.25% notes due 2031 will be issued partly in exchange for 2028 notes and partly for cash, with a conversion price of approximately $226.37.
RGEN
Debt Financing
FOXO Technologies signed agreements to acquire preferred stock carrying majority voting power in Ludwig Enterprises, Inc. and to buy certain Ludwig notes. The transactions have not closed.
FOXO
Debt Financing
Altimmune drew $10.0 million on October 27, 2026, and the draw extended the interest-only period to June 1, 2028 while adding a minimum cash covenant tied to the loan balance.
ALT
Debt Financing
The amendment lowers a prepayment figure and three investment baskets from $500,000 to $250,000 and requires Required Lenders consent for certain acquisitions and equity redemptions. JPMorgan Chase Bank, N.A. is administrative agent.
SNWVThe remaining balance is $706,667 after the payment. Lind agreed not to convert before January 1, 2027 unless the stock closes at $0.275 or more.
VNRXBank of America, N.A. is administrative agent under the new unsecured credit agreement. The company repaid $130.0 million under its 2019 credit agreement.
WSTA wholly owned subsidiary completed the third 2026 tranche of medium term notes, RMB800 million at 1.45% per annum over three years.
3320The senior secured convertible notes carry a 22% original issue discount, 8% interest and a 9-month term. Dawson James Securities, Inc. is named as placement agent.
GCTKIntegra refinanced a $1.3 billion revolver and a $775 million term loan with $450 million of 9.500% notes due 2033 and a $1.65 billion credit agreement, after reporting a 2025 net loss of $516.5 million.
IARTA wholly owned subsidiary completed the second tranche of its 2026 corporate bonds in the PRC, RMB900 million at 1.48% per annum over three years.
3320The sale draws on an agreement allowing up to $10,000,000 of convertible promissory notes. The company expects it to close on or before October 19, 2026.
CMNDThe note carries 7% interest, converts at $4.28 a share and matures in October 2027.
PFSAUnder an amended license with BCM Europe AG, OSR Health can elect to take up to $15,000,000 of convertible notes in place of an equity purchase option.
OSRHADC Therapeutics agreed to an $86.6 million private placement and to cut its senior loan to $50.0 million, and its royalty holder gave up a $150 million change-of-control payment. The changes depend on the placement closing, and expected cash at September 30, 2026 was $189.2 million, against $219.1 million at June 30.
ADCTThe first tranche brought in $3,000,000, with net proceeds of $2,869,850 after closing fees. The lender can convert at 70% of the lowest recent close, with a floor of $0.18354, and the company reported $747,000 of cash at June 30, 2026.
CDTThe 9.500% notes are due 2033 and will help refinance the company's existing credit facilities.
IARTTuHURA Biosciences borrowed an additional $650,000 under a revolving credit facility with Parkview Holdings One LLC on October 9, 2026. The facility has a maximum loan availability of $50 million.
HURAGrowth Capital Partners, LLC is the lender. The note carries 8.75% interest, matures 36 months after the purchase price date and converts at 95% of a market price.
SSIIThe note has an original principal amount of $2,835,000, repaid in weekly installments of $94,500. The final maturity date is May 7, 2027.
CODXJ.J. Astor & Co. is the lender. The initial note carries a $2.835 million principal amount, and the company says the proceeds will fund working capital.
CODXRevolution Medicines borrowed $250.0 million on October 8, 2026, under a senior secured term loan with Royalty Pharma Development Funding, LLC. The loan carries a floating rate of three-month Term SOFR plus 5.75%.
RVMDThe first $80 million tranche repaid the prior loan in full, including $75 million of principal.
XFORThe first $80 million tranche repaid $75 million of principal and fees owed under the prior loan. Another $70 million may be available at X4's request, subject to K2HV approval.
XFORCERo Therapeutics Holdings agreed on October 6, 2026 to sell its operating subsidiary to SRX Global Inc. The buyer would discharge the Consolidated Note, which had an outstanding principal balance of $8,249,643.77.
CEROFibroBiologics sold a $1,200,000 convertible debenture to Peak One Opportunity Fund, L.P. for $1,020,000, an original issue discount of 15%. The debenture matures October 8, 2027 and converts only after a default, at $0.78 per share.
FBLGVaxcyte is selling common stock and pre-funded warrants alongside $500,000,000 of convertible senior notes due 2032, a day after reporting Phase 3 data for VAX-31.
PCVXDirector Scott M. Pittman is among the lenders. The second notes carry 12% interest and mature December 31, 2028.
AURXHercules Capital is the lender. Rocket received $35 million at closing, reported no revenue in 2025 or 2024, and held $283.7 million in cash and investments at June 30, 2026.
RCKTHTGCRocket Pharmaceuticals received $35 million at closing under a credit facility of up to $150 million with Hercules Capital. The company expects its cash, with that first draw, to fund operations into the third quarter of 2028, and it says more borrowing could extend that into 2029.
RCKTHTGCAscent Partners Fund LLC is the holder and collateral agent. The exhibit sets a $0.338 floor, a 150% share reserve and waivers on three later notes, and Profusa had $719,000 in cash and cash equivalents at June 30, 2026.
PFSABeijing Rural Commercial Bank is the lender. A director gave an unsecured personal guarantee for the loan without consideration, and the company held $779,367 in cash and cash equivalents at June 30, 2026.
ITOCThe notes carry 20% interest and a September 30, 2027 maturity. Each lender also gets a warrant at an exercise price of $2.00 per share.
POSCTwo notes held by LGH Investments, LLC and Peter J. D'Arruda now mature on January 31, 2027. All other terms stay the same, the filing says.
ODYYThe consent sets aside the minimum Revenue covenant for two quarters, through December 31, 2026. Perceptive Credit Holdings V, LP is administrative agent.
TELAThe amendment makes the floor price a hard limit and requires any make-whole payment to be made in cash. Glucotrack had $1.1 million in cash and cash equivalents at June 30, 2026.
GCTKCelularity sold about $11.01 million of notes that convert at $1.50 a share, with warrants for about 4,037,000 shares. A second tranche of up to $10.0 million is available at the buyers' election through September 30, 2027.
CELUBank of America, N.A. is administrative agent. The maturity of the dollar term loans moves from May 5, 2028 to May 5, 2033, and year-end 2025 cash fell to $1.39 billion from $2.41 billion a year earlier.
JAZZThe notes are governed by an indenture dated September 23, 2026, with U.S. Bank Trust Company, National Association, as trustee.
IQVMorgan Stanley & Co. LLC and J.P. Morgan Securities LLC are the underwriters' representatives. The initial conversion price is about $50.75 a share, and the company sold 7,857,143 common shares at $35.00 in a separate offering the same day.
VKTXThe amendment extends the term loan maturity by one year, to the 72nd payment date after closing. PROCEPT BioRobotics paid a $26,000.00 extension fee.
PRCTBank of America, N.A. is administrative agent. The leverage and interest coverage tests now reset through the quarter ending September 30, 2029, and QuidelOrtho's cash and cash equivalents were $123.4 million at June 28, 2026.
QDELTwo tranches, with non-call periods of six and nine years, raise 2 billion euros for general corporate purposes.
BAYNThe Bank of New York Mellon Trust Company, N.A. is trustee. The company used $187.5 million of the net proceeds on capped calls and expects to buy back older convertible notes, and its cash and cash equivalents were $163.1 million at June 30, 2026.
HALOMorgan Stanley Senior Funding, Inc. is administrative agent. The margin on the refinanced term loans falls 0.25%, and cash and cash equivalents were $534.9 million at June 30, 2026, down from $716.1 million at the end of 2025.
PODDParkview Holdings One LLC is the lender. The $650,000 draw is small against $27.6 million of cash used in operations in 2025, and TuHURA reported $995,977 in cash and cash equivalents at June 30, 2026.
HURAC/M Capital Master Fund, LP is the investor. The $510,000 note converts at the lower of $1.75 and $0.01 above the closing price, and the company had $242,702 in cash and cash equivalents at June 30, 2026.
EDVAA news release dated March 7, 2025, filed with the SEC in a 6-K in September 2026, reports a $100,000 debenture tranche and the swap of a director's warrants for options. It names no placement agent for the debentures.
QNTMHalozyme intends to offer $1.05 billion of convertible senior notes due 2033, with a 13-day option for up to $150 million more. Rate and conversion terms will be set at pricing, and the release names no bank.
HALOAscent Partners Fund LLC bought the note as initial purchaser and also acts as collateral agent. The $384,615.38 note was sold for $350,000, and Profusa had $719,000 in cash and cash equivalents at June 30, 2026.
PFSAMindWalk Holdings signed a binding term sheet with Sanabil (Cayman) for a revolving credit facility of up to $30 million at a fixed 7.00% annual rate. The definitive agreement is not yet signed.
HYFTTuHURA reported the draw in an 8-K dated September 17, 2026. Parkview Holdings One LLC is the lender, and cash and cash equivalents were $995,977 at June 30, 2026.
HURAThe note matures March 1, 2027 and is payable in 24 weekly installments of $88,593.75. The lender can convert at the greater of 70% of the lowest volume-weighted average price or a $0.05 floor.
CDTThe nine-month notes carry 8% interest and a 22% original issue discount, with Dawson James Securities, Inc. as placement agent and an exchange cap of 19.99%.
GCTKCerenome, Inc. received initial funding under a senior secured facility of up to $20 million from 3i, LP, with royalty-based repayments. The company says its cash runway now reaches well into 2028.
CNSYLenders and noteholders agreed to forbear from enforcing remedies for a limited period. The forbearance period is set to end October 15, 2026 unless extended, and can end sooner on several triggers.
KPTITenon repaid in full original issue discount senior convertible promissory notes with an aggregate principal balance of approximately $5.16 million, issued March 11, 2026. The release names no noteholder or agent.
TNONIntellia Therapeutics will receive $75 million at closing under the facility. Up to $225 million more depends mainly on milestones for lonvo-z.
NTLAThe note bears 8% interest payable in kind and matures September 3, 2027. It converts at $0.04 per share after stockholders approve more authorized shares.
HEPAThe notes were issued under an April 27, 2026 purchase agreement, as amended on September 1, 2026. A separate $2.5 million equity commitment was signed the same day.
SNTIThe company borrowed $1,500,000 on September 2, 2026 under a loan agreement with Parkview Holdings One LLC. The facility allows up to $50 million and matures on April 21, 2031.
HURALind Global Asset Management XII waived defaults tied to at-the-market sales above the $10 million annual cap on notes issued in 2025 and 2026.
VNRXThe note has a principal amount of $329,670.33 and was sold for $300,000.00, reflecting original issue discount. Ascent Partners Fund LLC is the initial purchaser.
PFSAA non-wholly owned subsidiary of China Resources Pharmaceutical received a two-year registration for up to RMB1 billion of medium term notes.
3320AIM ImmunoTech converted approximately $1,224,341 of a February 16, 2024 promissory note held by Streeterville Capital, LLC into 5,065,840 shares, and the note was satisfied in full as of September 3, 2026.
AIMPDS Biotechnology amended a $6,000,000 note with YA II PN, Ltd. to require weekly remittances from at-the-market sales and to apply other equity proceeds to a mandatory redemption payment.
PDSBKyntra Bio amended its royalty financing agreement with NQ Project Phoebus, L.P., lowering the maximum payments and making a $42.6 million upfront payment.
KYNBThe note was issued on August 31, 2026 and repaid in full on September 4, 2026. It came with warrants for 237,000 shares.
CDTThe notes convert at about $210.58 a share, 47.5% above the August 27 close, and proceeds may fund the oncology business.
MRNAThe company agreed on August 27, 2026 to issue convertible bonds with an initial conversion price of HK$58.07 per share.
3696Moderna said it intends to sell $2.0 billion of notes due 2032, with an option for up to $300.0 million more. It would also enter capped call transactions to reduce potential dilution.
MRNAThe note combines earlier notes and lets SRX advance up to $6,000,000 in total at 10% interest. Principal and interest are due October 15, 2026.
CEROPharmaron Beijing signed an agreement on August 26, 2026 for convertible bonds with an initial conversion price of HK$36.08 per H share.
300759Jazz Investments I Limited plans to sell $1.0 billion of exchangeable notes due 2032. Jazz also expects to buy back up to $225.0 million of its ordinary shares from note purchasers.
JAZZThe amendment also lowers the minimum cash liquidity covenant to $250,000 and sets an August 31, 2026 deadline for a transaction acceptable to the lenders.
BTAIThe unsecured note carries a $150,000.00 original issue discount and a $20,000.00 transaction expense amount. The purchase price is $1,000,000.00, and the lender is Streeterville Capital, LLC.
NXLAfter raising $3.1 million by February, BCAL drew further notes and plans more, which use up its Listing Rule 7.1 capacity.
BDXA$2.1 million of existing notes is redeemed and replaced by new zero-coupon notes, and the remaining notes amortise in five instalments.
IMUThe notes mature in 2029, 2031 and 2036 and carry rates of 5.064%, 5.421% and 5.995%. Proceeds repaid term loans, a bridge facility and 2027 secured notes.
ICLRHolders tendered $756,712,000 of the 2.539% notes due 2032 by the early tender time. The offer cap rose from $500 million to $600 million.
BAXInnovatus Life Sciences Lending Fund I, LP, is collateral agent on a loan that replaces an existing term loan and runs to August 2031, with interest-only payments for an initial 36 months.
CHRSThe amendment provides approximately $2.5 million of new debt funding and approximately $4.5 million of capitalized interest, for a total investment of approximately $7.0 million.
TRIBThe notes were issued under an April 27, 2026 purchase agreement. The filing also ties the company to a potential merger with a contingent value right that could pay up to $60.0 million in cash.
SNTIThe notes mature in July 2044 and are secured by royalty payments that EirGen Pharma Limited receives on mazdutide. HCR Injection SPV, LLC serves as agent.
OPKThe note matures on August 13, 2028 and bears fixed interest at 12%. Cash is payable only on demand after maturity or while an event of default continues.
POSCJPMorgan Chase Bank, N.A. is administrative agent. The amendment cuts the spread on term loan A by 0.75% and on term loan B by 0.50%.
ALKSThe loan principal stays at $24,750,000 and the rate stays at 13.0%. The $247,500 extension fee is paid half in cash and half in shares.
AGENThe note has a $650,000.00 purchase price and matures in August 2027. The filing names no placement agent or advisor.
PFSAEnlivex deleted a market capitalization default from its Lind note and revised conversion and prepayment terms. Outstanding principal rose to $19.2 million.
ENLVOaktree Fund Administration, LLC is administrative agent. The amendment requires definitive transaction agreements by August 21, 2026 and sets the minimum liquidity amount at $3,000,000 from August 10, 2026.
BTAIThe first closing on August 10, 2026 covered $5,000,000 of units, including a bridge note conversion, and the second tranche is optional for each purchaser.
OSTXThe senior secured revolving credit facility will help fund the cash price for Dura Driver Control Systems, along with cash on hand. The release names no lender.
ASBPThe draw is part of a revolving credit facility of up to $50 million with Parkview Holdings One LLC that matures in April 2031.
HURAICON plc said its subsidiary priced three series of senior unsecured notes. Proceeds are meant to repay its bridge facility, senior secured term loans and 2027 notes.
ICLRGlucotrack issued follow-on senior secured convertible notes with a $4,487,179 face amount and sold pre-funded warrants in an interim private placement.
GCTKSupernus and Indivior agreed to an all-stock merger that includes a $1.0 billion cash dividend to Indivior stockholders. The companies say a $650 million Citibank term loan commitment will help fund it, and they expect the deal to close in the fourth quarter of 2026.
SUPNINDVAmneal's subsidiary converted $2.039 billion of term loans into new loans with a lower interest margin and added a $45.2 million term loan. The company estimates about $12 million of annual cash interest savings, and the maturity stays at August 1, 2032.
AMRXAutolus issued an initial $75 million of notes to Perceptive Advisors on July 30, 2026 under a five-year, interest-only credit facility of up to $250 million. The company's outlook for cash into the second quarter of 2028 counts the first two tranches totaling $100 million.
AUTLBioXcel's Eleventh Amendment moves a $9,016,914.47 payment to August 31, 2026, lowers the minimum liquidity amount to $6,250,000 and requires definitive transaction agreements by August 10, 2026.
BTAICDT Equity and J.J. Astor & Co. signed a second amendment on July 31, 2026 that raised the note's principal to $2,266,650 at 19% interest. Weekly installments of $104,187.65 start August 19, 2026, and the lender may convert part of the balance into common stock.
CDTProPhase Labs signed a senior secured convertible loan with J.J. Astor & Co. on July 31, 2026. The note has an original principal of $2,085,000, a funding amount of $1,440,000 and a final maturity of July 31, 2027.
PRPHThe binding agreement with the European Investment Bank has three tranches and covenants tied to management changes.
Annexon drew $50 million at closing on a credit facility of up to $200 million from Oxford Finance LLC. Another $100 million depends on registrational milestones, and $50 million needs lender approval.
ANNXAccuray's lenders waived two defaults under its financing agreement, and the same amendment exchanges converted debt for preferred shares and penny warrants, subject to shareholder approval.
ARAYA wholly owned subsidiary completed the second 2026 tranche of medium term notes, RMB1 billion at 1.52% per annum over three years.
3320A third amendment to the credit agreement with Fifth Third Bank, National Association, sets a standstill period that runs to June 30, 2027.
AMSGrifols says it refinanced all of its 2027 maturities with an upsized Term Loan B of about €3 billion equivalent and lifted its revolving credit commitment to over $2 billion. Net leverage was 4.2x at the end of June.
GRFTuHURA Biosciences borrowed $1,500,000 more under its $50 million revolving facility with Parkview Holdings One LLC. The filing gives no interest rate for the draw and flags conflicts of interest tied to the lender.
HURAProfusa signed a non-binding term sheet to acquire a private diagnostics company that it says had about $111 million of 2025 revenue. The deal would come with an estimated $7 million convertible note at a 7% rate and a 9% original issue discount.
PFSABiomX extended a $1,250,000 promissory note held by Water IO Ltd. to November 1, 2026, after a $250,000 payment. The remaining principal is due in four monthly installments of $250,000, and accrued interest is to be settled in 800,000 shares of common stock if approvals arrive.
A wholly owned subsidiary completed the first tranche of its 2026 medium term notes on 21 July 2026, at 1.53% per annum over 3 years.
3320Healthy Extracts Inc. issued a one-year promissory note with a principal amount of $258,750 to LABRYS FUND II, L.P. under an agreement dated July 17, 2026. The company received a net amount of $225,000, minus expenses.
HYEXHolders swapped about $23 million of 8.00% notes for about 5.0 million shares and about $23 million in cash. A separate holder converted $10.5 million of notes into about 3.6 million shares.
XERSAditxt signed Amendment No. 2 to its secured note purchase agreement with Ignite Proteomics investors on July 16, 2026. The amendment adds an investor, cancels one note and issues two new notes, and leaves the total senior secured principal unchanged.
ADTXInhibrx's Oxford Finance facility now totals up to $500.0 million. The company funded $100.0 million at signing, and up to $225.0 million more depends on the lenders' discretion.
INBXA second amendment adds a tranche of up to $325.0 million, of which $100.0 million was funded at signing. The lenders received warrants for 21,457 shares at $93.21 per share.
INBXPrestige Brands, a subsidiary of Prestige Consumer Healthcare, issued $400.0 million of 6.250% senior notes due 2034. The 8-K names no placement agent, underwriter or advisor and does not say how the proceeds will be used. The parent's annual report says Walmart and Amazon were its only customers above 10% of gross revenues during 2026.
PBHBayer US Finance LLC issues the notes, guaranteed by Bayer AG, with maturities between 5 and 30 years.
BAYNThe €28 million of bank loans has a five-year maturity and no covenants, and €20 million of the EIB facility is being repaid early, though the remaining EIB balance still comes due in July 2028.
MEDCLThe loan is secured against refundable R&D tax incentive offsets for FY2026 and FY2027 and will help fund Phase III studies in ASD.
CERo Therapeutics expanded its convertible note with SRX Global to $2,085,200. The note carries 10% interest, matures May 28, 2027, and converts at the lesser of $0.05 and 80% of recent trading lows.
CEROAnika Therapeutics signed a fifth amendment to its Bank of America revolving credit line, now maturing July 10, 2031. The filing names no amount drawn, and the line carries a first-priority lien on most of the company's assets.
ANIKKestra Medical drew $75.0 million from a facility of up to $200.0 million. The Tranche A loan funded on July 10, 2026, and repaid a prior loan from Perceptive Credit Holdings IV, LP.
KMTSKyverna extended availability of $15.0 million in remaining Term A Loans to December 31, 2026, for a $187,500 upfront fee. Further changes to the facility apply only if the company draws the full $15.0 million.
KYTXEvofem issued a $706,304 subordinated note to HUB Cyber Security, Ltd. The 12% note matures eleven months after July 8, 2026, and accrues a $2,000 weekly monitoring fee plus a one-time administration fee of $14,126.
EVFMThe Tenth Amendment, entered July 3, 2026, defers a principal payment to July 31, 2026, lowers the minimum liquidity covenant to $7.5 million and requires definitive agreements by that date.
BTAIQAspira Women's Health signed a $1,050,000 secured subordinated note with Agile Lending, LLC as lead lender. The note matures January 26, 2027, and the company will use it to refinance an earlier January loan.
AWHLThe $600,000 loan is secured against an expected R&D tax rebate of approximately $1.7m and the company's assets, and falls due by 30 September 2026 unless extended.
CYPThe company's subsidiary drew $95,000,000 on July 1, 2026. The 8-K also notes a $400,000,000 private offering of senior unsecured notes due 2034 whose pricing a July 6, 2026 press release announced.
PBHNuvation Bio issued $37.5 million more of its 0.75% convertible senior notes due 2032 on July 6, 2026, after underwriters exercised their option in full. The offering now totals $287.5 million, with estimated net proceeds of about $277.6 million, and the notes can be settled in cash, shares or both at the company's choice.
NUVBNuvation Bio's underwriters exercised in full an option for $37.5 million more of 0.75% convertible senior notes due 2032, lifting the offering to $287.5 million. Net proceeds are estimated at $277.6 million, and the capped calls bought with them cost about $2.2 million.
NUVBOmeros expects to close a $16.0 million principal repurchase of its 9.50% convertible notes due 2029, and agreed to buy up to $14.5 million more. The repurchases would leave about $40.3 million of notes outstanding, and the company may replace the cash with debt that is not convertible into equity.
OMERArdelyx received the funds on June 29, 2026 under its 2022 loan and security agreement. The loan bears interest of 4.55% plus the greater of 1-month SOFR or 3.5%, with interest-only payments until July 1, 2030.
ARDXViatris signed a ¥40,000,000,000 senior unsecured term loan with Mizuho Bank, Ltd. as administrative agent. The proceeds may repay a 2021 loan of the same size, and the company reported a net loss of $3.51 billion for 2025.
VTRSAlvotech amended its credit agreement to add up to $75 million in term debt at 12.50% interest, maturing December 31, 2027. Its secured loan facility already had $1,031.6 million outstanding at the end of 2025.
ALVOTwo €500 million tranches, due in 2031 and 2034, will fund general corporate purposes, including refinancing.
FREThe notes carry 8.0% interest and a $5.40 conversion price. The second tranche depends on ReWalk sales growth or a share price of $13.80 or higher.
LFWDThe amendment moves the maturity of $410,000 in notes from June 30 to August 14, 2026, raises the rate to 17% from July 1 and requires extension shares.
BSPKTuHURA Biosciences drew an additional $1,900,000 under its revolving credit facility with Parkview Holdings One LLC. The facility matures April 21, 2031 and allows up to $50 million in borrowing, and the filing does not describe its interest rate or collateral.
HURAThe company calls it a line of credit backed by UK tax credits. It drew $1.6 million first, mainly for OST-HER2 manufacturing.
OSTXJ.J. Astor & Co. is the lender on a senior secured convertible note with a principal amount of $1,971,000, amended on June 30, 2026. The company receives $1,460,000 in two tranches, and repays the loan in weekly installments of $82,125 starting July 10, 2026.
CDTAgenus pushed back the maturity of $5.09 million of 2015 notes by eight months, to February 18, 2027, and extended the expiration of earlier warrants to June 25, 2031. The filing does not describe new cash from the deal.
AGENCelularity signed a $1,000,000 secured loan with the Philip & Daniele Barach Family Trust at 4.0%. The loan matures at the earlier of 30 days after closing or receipt of certain financing proceeds, and it rises to 18.0% after a default.
CELUArdelyx drew a $50.0 million Term F Loan from SLR Investment Corp. on June 29, 2026. The loan matures July 1, 2030 at 4.55% plus the greater of 1-month SOFR or 3.5%, and in a default the agent can reach the company's cash.
ARDXShoulder Innovations signed a $15.0 million senior secured term loan with Stifel Bank on June 26, 2026, and used it to repay Trinity Capital. The $30.0 million asset-based revolver was undrawn at closing.
SIA non-wholly owned subsidiary completed the third tranche of its 2026 corporate bonds, RMB2 billion at 1.59% per annum over three years.
3320ALX Oncology borrowed $10,000,000 at closing from HSBC Ventures USA and used it to refinance its Oxford Finance and Silicon Valley Bank loan. The facility can reach $50,000,000, but $10,000,000 of that is uncommitted and the rest depends on draw dates and milestones.
ALXOA First Amendment to the Hercules loan splits the remaining $50,000,000 tranche and extends later draw deadlines into 2027 and 2028.
IRONNuvation Bio plans $200.0 million of notes due 2032 and expects to use the proceeds to repay its senior secured loan and pay for capped calls. The rate and conversion price are not set until pricing.
NUVBLigand closed $700.0 million of 0.00% convertible senior notes due 2031 after the initial purchasers exercised their option in full. Net proceeds were approximately $678.2 million, with about $72.9 million going to note hedges and approximately $60 million to a share repurchase. The initial conversion price is approximately $334.27 per share.
LGNDHercules Capital, Inc. is the lender on senior secured term loans that mature in 2031, and most of the money is milestone-based or at the lender's discretion. The filing does not say how the company will use the proceeds.
FDMTSangamo filed for Chapter 11 in Delaware on June 23, 2026 and seeks court approval of DIP financing from Northridge ATM, LLC. Eli Lilly and Astellas have signed stalking horse bids for its assets.
SGMOQAvenue Venture Opportunities Fund II, L.P. is the lender on a $10,000,000 loan. The amendment moves maturity to September 1, 2029, expands the lender's conversion right to up to $3,000,000 and cuts the warrant price to $1.00.
CALCCERo Therapeutics amended a note with SRX Health Solutions, Inc. that converts into common stock at a price set by recent trading. The maximum is $1,413,600, of which $663,600 was funded on June 23, 2026.
CEROLigand plans a private offering of $550.0 million of notes due 2031 to fund note hedges, a repurchase of up to $75 million of stock and general purposes, including a pending deal for Xoma Royalty Corporation.
LGNDAditxt sold $769,230.77 of additional senior secured convertible notes for $500,000.00 in cash, and it reported $268,852 of cash at March 31, 2026. The filing does not name the investors.
ADTXBetterLife Pharma closed a CAD $2,000,000 convertible debenture on June 22, 2026, and a director and insider subscribed for the full amount. The conversion price compares with $0.07 per unit in an April 2026 private placement.
BETRNeoGenomics completed $316.25 million of 0.75% convertible senior notes due 2032 under an indenture with U.S. Bank Trust Company, National Association, as trustee. It used about $28.7 million of the proceeds on capped calls.
NEOPTC Therapeutics sold $550,000,000 of 0.0% convertible senior notes due 2031 through Morgan Stanley & Co. LLC as representative of the initial purchasers. The initial conversion price is about $107.48 a share.
PTCTViatris completed a €650,000,000 offering of 4.250% senior notes due 2033 on June 17, 2026. The proceeds first repay June revolver borrowings used to pay off $1.675 billion of 2026 notes, and the company reported a 2025 net loss of $3.51 billion. The 8-K names no underwriter.
VTRSJaguar Health's monthly royalty minimums of $750,000.00 now start October 1, 2026 under both royalty interests, and a Streeterville note matures October 1, 2026 instead of July 1. Streeterville also received common stock for Series Q preferred shares.
JAGXAdaptive Biotechnologies priced $300 million of 0% convertible senior notes due 2031, upsized from $250 million. J. Wood Capital Advisors LLC, its financial advisor on the offering, agreed to purchase about $10 million of shares.
ADPTOmeros agreed to repurchase up to about $16.0 million of 9.50% convertible notes due 2029 for a total of up to about $34.0 million. The final price depends on the stock's trading in an averaging period that began June 18, 2026.
OMERGossamer Bio's exchange of 2027 convertible notes drew $181,052,000 of tenders, and $18,948,000 of the old notes remain outstanding under a supplemental indenture that strips most covenants. The new notes are secured first-lien debt.
GOSSDyne Therapeutics' Hercules facility now totals up to $400.0 million, with $200.0 million outstanding after a $50.0 million draw on June 16, 2026. Hercules Capital, Inc. is administrative agent and collateral agent for the lenders.
DYNPDS Biotechnology's $6,000,000 note carries a 10% rate, a warrant for 2,158,274 shares and a twelve-month term. Yorkville Securities, an affiliate of the investor, is one of two sales agents for a $50,000,000 at-the-market program.
PDSBAdaptive Biotechnologies plans a $250 million offering of convertible senior notes due 2031 and expects to use up to $25 million of the proceeds to repurchase common stock. The interest rate and conversion terms will be set only at pricing.
ADPTViatris is offering €650,000,000 of 4.250% senior notes due 2033 to repay revolving credit borrowings drawn to retire its 2026 notes. Its 2025 net loss was $3.51 billion.
VTRSClearmind Medicine will issue $1,000,000 of convertible notes for $900,000 in cash, under a one-time exception to its own $2,500,000 quarterly limit. The agreement also amends the conversion price and sets a $1.875 floor price per share.
CMNDIQVIA's €950,000,000 of 4.625% senior notes due 2033 are governed by a June 11, 2026 indenture with U.S. Bank Trust Company, National Association as trustee. Its 2025 net income of $1.36 billion was slightly below 2024.
IQVCDT Equity agreed to pay off its Alliance Global Partners and Ascent Partners loans and signed a loan of up to $1,460,000 with JJ Astor & Co, which it says is now its only loan facility. Its 2025 net loss was $39.2 million.
CDTXeris will retire about $23 million of its 8.00% convertible notes due 2028 for about $23 million in cash plus common stock, with Morgan Stanley as placement agent. About $10.5 million of the notes will remain outstanding.
XERSBioRestorative Therapies can borrow up to $1,000,000 from Bowery Group LLC at 12%, and the same agreement brought three director resignations and three new directors designated by the lender. Its cash use in 2025 was $10.8 million.
BRTXNUWEISPCPrecision BioSciences has moved the maturity of its Banc of California term loan from June 30, 2027 to December 31, 2029. The company used $65.8 million in operations in 2025 and ended 2024 with $85.9 million in cash and cash equivalents.
DTILThe first CHF 150 million tranche will refinance the existing New Money Facility, of which CHF 105 million has been drawn.
IDIAVivos Therapeutics can draw up to $5,000,000 under a note from V-CO Investors 4 LLC, which adds a 10% bridge fee to each amount advanced and converts into the equity of a planned financing. The lender may call the note on demand once the June 30, 2026 Outside Date has passed.
VVOSCelcuity issued $575,000,000 of 0.250% convertible senior notes due 2032 on June 8, 2026, with net proceeds of approximately $557.0 million. It repaid its loan agreement in full the same day.
CELCIGC Pharma has extended its $12,000,000 bank facility with O-Bank, and the facility fee rises from $48,000 to $60,000. The filing gives no amount drawn and no interest rate.
IGCCerus has restated its two MidCap credit agreements, borrowing a first $35.0 million on a term loan that can reach $65.0 million. Its revolver had $29.9 million outstanding at closing, and the term loan is priced at Term SOFR plus 5.50%.
CERSInotiv's $65.5 million debtor-in-possession facility includes $25,000,000 of new money and rolls up $40,521,753.47 of prepetition bridge loans into superpriority term loans. Both tranches pay interest in kind at Adjusted Term SOFR plus 11.5%.
IMUNON has sold $10 million of preferred stock and two secured notes to Streeterville Capital, with half placed in a collateral account, to fund its Phase 3 OVATION 3 trial. The company used $13.9 million in operations in 2025.
IMNNLuye Pharma plans US$180,000,000 of 5.25% convertible bonds due 2031 and a concurrent repurchase of its 6.25% convertible bonds due 2028 at US$1,031.25 per US$1,000 of principal. The announcement says the two transactions may or may not complete.
2186Syndax Pharmaceuticals agreed on June 3, 2026 to issue $250.0 million of 2.25% convertible notes due 2031 in a private placement, with about $243 million of net proceeds expected. J. Wood Capital Advisors LLC is the sole placement agent, and the company's 2025 net loss was $285.4 million.
SNDXSyndax estimates net proceeds of about $243 million from the notes after the placement agent's fees and expenses. The 2.25% notes mature on June 15, 2031, and the conversion price is about $24.76 per share.
SNDXCONMED will repurchase its 2.250% convertible notes due 2027 for cash under a purchase agreement dated June 3, 2026, with closing set for June 15, 2026. The principal and cash amounts sit in an exhibit the filing does not show.
CNMDFONAR's merger closed on June 3, 2026, and the company is now a wholly owned subsidiary of FONAR, LLC. As a borrower and guarantor under a new OceanFirst Bank credit agreement, it is bound by a $20 million term loan facility and a $15 million revolving facility secured by substantially all assets.
Aditxt has issued senior secured convertible notes that combine about $725,000 in new cash with earlier notes consolidated into them, at a 35% original issue discount. The company held $268,852 in cash at March 31, 2026.
ADTXGossamer Bio says holders of 90.526% of its 2027 convertible notes tendered early, and the company expects to issue $65,174,000 of new 7.50% secured convertible notes due 2030 at early settlement. The exchange also strips most covenants from the old indenture.
GOSSCelcuity priced $500,000,000 of 0.250% convertible senior notes due 2032, upsized from $400,000,000, with a 30-day option for $75,000,000 more. The company plans to use the proceeds first to repay its Oxford Finance loan.
CELCThe unsecured debentures carry 25.00% simple interest, mature 14 months after closing and can convert at C$1.42 per share.
HBPThe notes mature on August 1, 2032, carry an initial conversion price of approximately $124.53 a share, and will repay the Oxford Finance and Innovatus loan in full. The last reported sale price on June 2, 2026 was $91.42.
CELCInotiv's prepackaged Chapter 11 plan would cut about $326 million of funded debt, convert a substantial portion of it into equity and cancel existing equity interests.
Mineralys can draw $100.0 million at closing on a $500.0 million loan, while the next $150.0 million depends on FDA approval of lorundrostat, and it owes Tanabe a $200.0 million cash payment.
MLYSCity National Bank of Florida will lend up to $15,000,000 under a revolving note that matures June 5, 2027.
SRTSA new credit agreement refinances a 2020 facility, with BSP Agency, LLC as administrative and collateral agent.
MRVITeleflex will use the proceeds, with cash on hand, to redeem its outstanding 4.625% Senior Notes due 2027. The notes are being sold in a private offering.
TFXThe notes carry a $1,500,000 principal amount and a cash purchase price of 90% of principal. The sale falls under an investor agreement amended in April 2026.
CMNDNutriband amended its $5 million credit line with TII Jet Services, a lender in Portugal. Advances carry 7% interest and may be used only for work with Kindeva toward the fentanyl NDA.
NTRBFive lenders, including a director and a holder of more than 5% of the stock, joined the interim tranche. The notes pay 12% interest in warrants rather than cash and mature December 31, 2028.
AURXA wholly owned subsidiary received registration for up to RMB5 billion of medium term notes, valid for two years, with no issue announced yet.
3320Medline issued $1,250.0 million of 2031 notes and $750.0 million of 2033 notes, then refinanced part of its 2030 term loan into an approximately $2,750.0 million loan due 2033. The new debt is secured on substantially all assets.
MDLNThe note was sold for $750,000 and bears 10% interest, with conversion at the lesser of $0.05 or a discount to recent trading prices.
CERORoyalty Pharma signed a $1.8 billion unsecured revolving credit facility maturing May 22, 2031, and repaid its 2021 facility in full. The covenants cap funded debt at 4.00 times Adjusted EBITDA, and the exhibit names a different borrower from the 8-K.
RPRXThe lender paid $12 million at closing and deposited $10 million in a subsidiary's account under a deposit account control agreement. The notes carry monthly cash redemptions and trigger-based increases.
MDCXThe credit agreement names JPMorgan Chase Bank, N.A. as administrative agent. The company's Form 8-K describes a revolver and two term loan facilities that refinance its earlier agreement.
TFXThe first omnibus amendment adds Term A-2 commitments of $450,000,000 under the company's existing credit agreement, with JPMorgan Chase Bank, N.A. as administrative agent.
CNMDBiophytis amended its straight bond financing with Hexagon Capital Fund a second time, making the facility revolving and reducing its cost.
ALBPSThe $50 million revolving facility from Parkview Holdings One LLC matures in April 2031. The company expects to use the first draw for general corporate purposes.
HURACartesian drew $50.0 million at closing under a senior secured loan that can reach $150.0 million, with the lenders able to convert up to $15.0 million into common stock at $8.2526 a share. The loan carries a minimum cash covenant starting April 1, 2027, and the 8-K does not name the individual lenders.
RNACThe loans carry a variable rate of at least 8.95% and mature on June 1, 2030. Only the first $50.0 million was funded at closing, and the two later tranches depend on milestones.
RNACCeladon Partners SPV 24 bought the notes, and Acquiom Agency Services LLC was named collateral agent.
SNTIThe note is now due June 30, 2027. The balance is about $1.68 million after the amendment and the extension fee.
AIMThe merger with Zydus Worldwide DMCC would let noteholders require repurchase at 100% of principal plus accrued interest. Parent waived the requirement that Assertio launch a note offer.
The offer would swap $200 million of 2027 notes for new 7.50% secured convertible notes due 2030, plus shares or prefunded warrants.
GOSSWuXi AppTec signed a subscription agreement on May 14, 2026 for bonds with an initial conversion price of HK$153.00 per H share.
603259The notes include the full exercise of a $15.0 million over-allotment option. Ocugen used approximately $32.7 million of the proceeds to repay its Avenue loan.
OCGNInotiv borrowed $27.5 million under the bridge facility and used it to repay its revolving loans, which were then terminated. The amendment also excludes some covenant tests and adds strategic alternatives milestones.
Gilead sold four series of senior notes due 2028 through 2034 in a public offering, with coupons from 4.250% to 4.900%. Barclays, BofA Securities and Citigroup Global Markets are the representatives of the underwriters.
GILDAn affiliate of Celadon Partners SPV 24 may buy notes in two tranches. The first tranche is $10 million and is expected to close in May.
SNTIAvenue Capital Management II, L.P. is the lender under a term loan facility signed January 7, 2026. The first $15.0 million tranche funded after closing.
SPRBMandragola Ltd is the lender under a credit line that issues 12% convertible promissory notes for each advance. Mandragola also received a five-year warrant.
The 14.0% term loan matures in January 2029 and is secured by substantially all of the company's assets. The lender is a subsidiary of Innoviva, which the filing describes as a principal shareholder.
ARMPThe term loan from Innoviva Strategic Opportunities LLC matures January 11, 2029 and is secured by substantially all company assets. Armata reported about $4.8 million of unrestricted cash and cash equivalents at March 31, 2026.
ARMPThe notes carry no interest and convert at about $138.94 a share, a 30% premium to the May 12 price. Mirum swapped $237.2 million of 4% notes due 2029 for cash and shares.
MIRMMirum plans to sell $600.0 million of convertible senior notes due 2032, with an option for up to $90.0 million more. Part of the proceeds would go toward exchanges of its 2029 notes.
MIRMThe facility refinances Aquestive's existing debt. It starts with $55.0 million at signing and adds tranches tied to FDA approval and sales milestones.
AQSTTwo institutional holders swapped Series A preferred stock for non-convertible notes of $5,307,096.94 and $2,467,988.34, due May 12, 2027.
FOXOThe notes carry no regular interest and mature May 15, 2032, after the initial purchasers exercised their option in full.
TEMThe 0.50% notes would lift convertible principal to $619.9 million but cut the coupon. Travere said it would spend about $350.9 million to repurchase part of the older debt.
TVTXThe unsecured note converts at $0.60 a share and goes to Brian J. Kieser, a new director who runs Sequence LifeScience. Sequence bought $5,500,000 of notes in an earlier April financing.
NXGLLifeloc Technologies entered into a $500,000 promissory note with Vern Kornelsen, its Chief Financial Officer and Chairman of the Board. The note carries 10.5% interest and is secured by its Wheat Ridge office and most of its assets.
LCTCAn institutional investor will fund up to $3.5 million in two tranches. The first note carries 7% interest, matures in eighteen months and converts at a price that cannot fall below $0.50.
GELSViridian's $250,000,000 offering of 1.75% convertible senior notes due 2032 includes the full $25.0 million over-allotment option. A concurrent sale of 7,352,942 shares was priced at $17.00 a share.
VRDNCitius Oncology signed a warrant inducement worth about $11.5 million and a loan of up to $25.0 million with Avenue. Existing warrants are repriced to $0.90, and the new warrants and conversion rights add to the share count.
CTORCitius Oncology signed a loan of up to $25 million with an Avenue Capital fund and expects about $11.5 million gross from a warrant exercise. Only $10 million of the loan funds at closing, and the new warrants cannot be exercised until stockholders approve the shares.
CTOROcugen plans $115 million of 6.75% convertible senior notes due 2034, with an option that takes the total to $130 million. Proceeds include $32.7 million to retire Avenue debt at 12.5%.
OCGNTravere plans to sell $400 million of convertible senior notes due 2032, with an option for up to $60 million more. It intends to use part of the proceeds to repurchase 2029 notes for cash.
TVTXLexicon signed a loan of up to $100 million from Hercules in three tranches. The first $55 million was funded at closing, and Hercules receives warrants at $1.59 a share.
LXRXCERo Therapeutics Holdings issued a convertible promissory note to Keystone Capital Partners, LLC on April 27, 2026, with a purchase price of $400,000 and a principal face value of $500,000.
CEROJPMorgan Chase Bank, N.A. is administrative agent on the $175.0 million term loan A and the $125.0 million revolver, which repaid older credit agreements.
ATECThe 10% note matures in twelve months and is sold to YA II PN, LTD. for $5,760,000. It comes with a warrant for 2,158,274 shares at $1.1824 a share.
PDSBThe amendment raises the subscription amount so that $10,000,000 of capacity remains for future convertible promissory notes.
CMNDThe April 27, 2026 agreement issued an A-1 note and a B note to Streeterville Capital, LLC. Maxim Group LLC served as placement agent.
SCNXThe notes mature in 2027 and carry 12% interest. They can convert into common stock at 75% of the lowest trading price in the prior ten trading days, and only after an event of default.
IGCEmergent drew a $150 million term loan with OrbiMed as administrative agent and repaid its prior credit agreement. Interest is Term SOFR plus 6.25%, with a 3.00% floor, and the loan matures as late as April 16, 2031. The asset-based revolver falls from $100 million to $50 million.
EBSThe Credit Agreement also provides a $75 million delayed draw term loan, available for 24 months. Interest is Term SOFR plus 6.25% per annum, with a 3.00% floor.
EBSCaris Life Sciences took a $400,000,000 term loan from funds managed by Blue Owl and Blackstone to repay its 2023 credit agreement. The new deal also adds a $300,000,000 delayed draw facility for acquisitions, and the company already reported $796.3 million of cash at the end of 2025.
CAIApollomics signed a $2.0 million unsecured note with its chairman and chief executive, Hung-Wen (Howard) Chen, on March 30, 2026, at 0% interest, which converts into equity at a 20% discount if the company later raises at least $10.0 million.
APLMZenas BioPharma closed a $200 million offering of 2.50% convertible senior notes due 2032, with net proceeds of about $193.7 million and Jefferies, Evercore, Citigroup and Guggenheim as representatives. Its 10-K reports substantial doubt about going concern.
ZBIOCytoDyn and the holders of two $28.5 million convertible notes agreed to extend both maturities by 36 months, to April 2029. In return, the company will pay $1,000,000 a month in common stock, and the interest rate falls to 5%.
CYDYTurn Therapeutics signed a term loan of up to $25.0 million with Avenue Venture Opportunities Fund II, L.P. It bears interest of at least 12.25%, is secured on the company's assets, and only $7.0 million is committed up front.
TTRXMoonLake drew $25.0 million under a Hercules loan totaling $500.0 million across six tranches. Most of the tranches still to come depend on Phase 3 results and FDA action for its lead drug, sonelokimab, and the company's 81% response figure comes from 26 patients with no comparison arm reported.
MLTXMaze received an initial $40.0 million term loan and says net proceeds were approximately $38.4 million. Up to $160.0 million more is available if conditions are met. It also ended its Banc of California loan.
MAZEThe Third Amendment raises the third tranche to $35 million, which was funded at closing, and sets the interest rate at the greater of 8.50% or Prime plus 1.75%. Replimune says its cash runway now reaches late into the first quarter of 2027.
REPLAmneal Pharmaceuticals LLC cut the interest margin on its term loans by 50 basis points in an amendment dated February 2, 2026, with JPMorgan Chase Bank, N.A. as administrative agent. The company estimates annual cash interest savings of about $11 million, and the loans still mature on August 1, 2032.
AMRXAs amended, the loan agreement provides for up to $105 million of term loans, and the added draws depend on FDA approval of MOLBREEVI for aPAP. Two covenant compliance dates move to April 1, 2027 and September 30, 2027.
SVRAThe Second Amendment draws $25 million at closing to refinance existing term loans. Further tranches depend on milestones.
ENGNThe notes due 2033 carry a 45% conversion premium. Underwriters later took the full option, and BridgeBio bought back about 1.1 million shares alongside the sale.
BBIOCell Source closed $1,875,000 of original issue discount convertible notes for $1,500,000 in gross proceeds. The notes convert at 90% of a recent low price, and buyers also received warrants at $.40.
CLCSArrowhead Pharmaceuticals raised the notes from $500,000,000 to $625,000,000 while selling common stock at the same time. The notes rank behind $254.9 million of secured borrowing.
ARWRBausch + Lomb closed a $2,802,125,000 term loan tranche maturing January 15, 2031, used to refinance its term B loans due 2028 and 2031. The margin on term SOFR loans is 3.75%, but the filing does not say how much of the tranche is new cash.
BLCOThe five-year facility has a $580 million initial term loan, a $300 million delayed draw term loan and a $100 million revolver, with Truist Bank as administrative agent. Collegium used the initial loan to repay its previous term loan in full, including its prepayment premium, which the filing does not size.
COLLThe $980 million facility matures in 2030 and includes a $580 million initial term loan, a $300 million delayed draw term loan and a $100 million revolver. The initial term loan repaid about $581 million owed to Pharmakon, so it brought no new cash at closing.
COLLThe First Amendment lets Dyne draw a $50.0 million tranche from Hercules Capital. Up to $75.0 million more depends on milestones, and the loan matures July 1, 2030 at prime plus 2.45% with a 7.50% floor.
DYNAll resolutions passed by poll at the November 25, 2025 annual meeting. Shareholders also approved option grants and prior share issues.
MSBCumberland's amended Pinnacle Bank line has up to $15 million available, a right to request $10 million more, and a maturity of October 1, 2027. The filing does not say how much is drawn.
CPIXCogent Biosciences closed a $230,000,000 offering of 1.625% convertible notes due 2031 on November 18, 2025, including the full over-allotment option. The 8-K names no underwriters, and the company's 2024 annual report showed operating cash use of $207.8 million that year.
COGTThe amendment raises term loan availability from $100.0 million to $125.0 million and extends the interest-only period to 30 months. Altimmune held $210.8 million in cash, cash equivalents and short-term investments at September 30, 2025.
ALTHalozyme amended its credit agreement to raise the revolver to $750,000,000, with nothing drawn. It also proposed two $650 million convertible note offerings, with terms to be set at pricing.
HALOKyverna signed a loan facility of up to $150.0 million with Oxford Finance and drew $25.0 million at closing, secured by substantially all of its assets. The company says its runway still runs into 2027, the same guidance it gave before the loan.
KYTXCandel signed a five-year term loan with Trinity Capital Inc. for up to $130 million and drew $50 million at closing. The loan carries a 10.25% initial rate, a 4.25% exit fee and a minimum cash covenant that applies if the company's market value falls below $550 million.
CADLKaryopharm closed a recapitalization on October 10, 2025 that borrowed $12.5 million under its term loan, issued $15.0 million of 9.00% notes due 2028 and $103.5 million of 9.00% notes due 2029, and exchanged $100.978 million of older notes. Lenders also waived specified defaults under the loan.
KPTIJourney Medical's $25.0 million SWK term loan now matures June 27, 2028. Principal repayments start in February 2026 unless trailing revenue tops $60.0 million at December 31, 2025.
DERMuniQure amended its Hercules term loan on September 22, 2025. The 2025 Term Loan is up to $175 million, $50 million was drawn at closing to refinance existing debt, and the balance depends on milestones tied to AMT-130.
QURECytokinetics issued $750.0 million of 1.75% convertible senior notes due 2031 on September 19, 2025, and expects to spend about $402.5 million of the net proceeds on the cash side of exchanges for its 2027 notes. The notes convert at about $68.42 a share. Neither the 8-K nor the release gives the company's cash balance.
CYTKThe 8% debenture matures in twelve months and refinances about $1.7 million of earlier Yorkville debentures. Medicus expects net proceeds of approximately $5.7 million, and the lender can require repayment from part of any equity raise.
MDCXCelcuity drew $30 million at closing, bringing the term loan to $130 million. The $170 million of new committed capital depends on FDA approval of gedatolisib or on commercial revenue milestones.
CELCPrecigen entered a five-year senior secured loan agreement with funds managed by Pharmakon Advisors. A $25.0 million delayed draw tranche is available until June 29, 2027, and the loans mature September 3, 2030.
PGENAbout $49.7 million of the new convertible notes would be sold for cash, and about $175.3 million would be exchanged for 2027 notes. The exchange gives Novavax no cash. The company expects to close on or about August 27, 2025.
NVAXA $15 million loan from a unit of Armata's largest shareholder, Innoviva, carries a 14.0% rate, is secured by substantially all of the company's assets and matures in January 2029. Cash stood at $4.3 million on June 30, 2025.
ARMPCorMedix closed a $150,000,000 private placement of 4.00% convertible senior notes due 2030 on August 12, 2025. Each $1,000 of principal converts into 74.2515 common shares at the initial rate, and U.S. Bank Trust Company is trustee under the new indenture.
CRMDThe 4.00% notes were sold in a private placement. The initial conversion rate is 74.2515 shares of common stock per $1,000 principal amount.
CRMDThe agreement provides a $75 million term loan and a $225 million revolving credit facility, both maturing August 5, 2028. ADMA used the proceeds to pay off its earlier facility with Ares Capital Corporation.
ADMAOncotelic's $560,000 note converts at a fixed $0.07 per share and carries 10% interest, and a separate equity purchase agreement with the same lender could add up to $25 million of stock sales.
OTLCCelcuity (Nasdaq: CELC) sold $201,250,000 of 2.750% convertible notes due 2031, including an over-allotment option the underwriters exercised on July 30, 2025. The notes convert at an initial price of about $51.30 per share, and the company sold stock and pre-funded warrants in a separate, concurrent offering.
CELCPropanc Biopharma sold a $112,350 convertible note to 1800 Diagonal Lending LLC for $107,000. The note bears 22% interest, matures April 30, 2026 and converts at a 25% discount after 180 days, in a stock its last annual report says was quoted at $0.0003.
PPCBAbeona Therapeutics lowered the rate on its senior secured term loan from 13.5% to a fixed 11.75% and gave the Avenue lenders warrants for up to 16,474 shares at $6.07. Its 2024 net loss was $63.7 million, and its 10-K says $98.1 million in year-end cash and investments, plus later at-the-market proceeds, covers at least 12 months from issuance.
ABEOThe new $10 million line covers spending through June 2026, and $81 million of earlier borrowings from the same investor now mature September 30, 2026. The lead drug's NAVIGATE composite endpoint did not reach statistical significance.
GALTThe July 3, 2025 credit agreement is a $300.0 million senior secured revolver maturing July 3, 2030, and Pacira used part of it to repay its term loan A without prepayment penalties or fees. Wells Fargo Bank is administrative agent, and Wells Fargo Securities, Citizens Bank and Truist Securities are joint bookrunners and lead arrangers.
PCRXThe notes mature January 15, 2031 and pay three-month EURIBOR plus 3.875%. The company also arranged a $2.325 billion term loan and an $800 million revolver, using the proceeds to repay and refinance existing debt.
BLCOAmendment No. 6 to Aytu's loan and security agreement moves both maturities to June 12, 2029 and raises the term loan principal to $13.0 million. The new advance carries SOFR plus 5.50%.
AYTUCogent drew $50 million of a term loan facility of up to $400 million from SLR credit funds on June 11, 2025. Most of the rest depends on pivotal trial results and a launch the company expects in 2026, and the debt falls due in 2030.
COGTIntegra LifeSciences' June 6, 2025 amendment lifts its maximum consolidated total leverage ratio to 5.00 to 1.00 through June 30, 2026, then steps it down. The company says total indebtedness does not rise, but the amendment also restricts investments, new borrowing and transfers of intellectual property until the relief period ends.
IARTThe note carries interest of up to 12.5% and matures on June 3, 2028. Elicio expects the cash to fund operations into the first quarter of 2026.
ELTXA REGENXBIO subsidiary signed a limited recourse royalty bond with an affiliate of HealthCare Royalty Management, repaid only from royalties. The company says the $150 million received at closing extends its cash runway into early 2027.
RGNXThe one-for-one exchange also means Omeros no longer has to make a $20.0 million term loan prepayment. Separately, it agreed to convert $10 million of the old notes into common stock.
OMERThe term loan has four tranches and matures June 1, 2029. The company reported $150 million in cash, cash equivalents and short-term investments as of March 31, 2025.
ALTEvolus signed term loans of up to $250,000,000 in three tranches, with $150,000,000 advanced at the effective date. The loans carry 3-month SOFR plus 5.0%, with a 3.50% floor, and mature five years after the first tranche. Early repayment carries an exit payment of 2% of principal prepaid.
EOLSPDS Biotechnology sold $22,222,222 of senior secured convertible debentures for $20,000,000 on April 30, 2025, and used about $19 million to repay its Horizon Technology loan. The filing names no placement agent, underwriter, financial adviser or counsel.
PDSBSilicon Valley Bank, a division of First-Citizens Bank & Trust Company, can lend Invivyd up to $30 million in three tranches. Only the first $10 million is open without revenue milestones, and the loans are due March 1, 2029.
IVVDThe company refinanced its K2 HealthVentures term loans with a $42.0 million first tranche, cut the interest rate and gave lenders the right to convert up to $7.0 million into shares. Up to $120.0 million is available in total, but the filing reports only the first tranche as funded.
DFTXThe amendment allows up to $120.0 million of term loans, with a $42.0 million first tranche that refinanced existing loans. Interest carries a floor of 10.25%, lenders can convert up to $7.0 million into shares, and the 8-K gives no cash balance or net loss.
DFTXNeogen refinanced its term loan and revolving credit facility on April 4, 2025, with a new $450.0 million term loan and a $250.0 million revolver that matures April 4, 2030. The revolver had $100.0 million drawn at closing, and the company says the deal is leverage-neutral and cuts its rate, a claim the 8-K and the release do not test against the old terms.
NEOGMoonLake's subsidiary, MoonLake Immunotherapeutics AG, borrowed the first tranche on March 31, 2025. Most further tranches depend on trial and FDA milestones, and the facility matures April 1, 2030.
MLTXSavara drew the first $30 million of a loan of up to $200 million from a group led by Hercules Capital, and used it to repay its Silicon Valley Bank term loan. Later draws depend on FDA approval of MOLBREEVI, a revenue milestone or lender approval.
SVRAThe secured term loan matures on March 12, 2026. Armata also pushed back the maturity of three earlier Innoviva credit agreements to the same date.
ARMPINVAThe Avenue Venture Opportunities Fund II loan matures September 1, 2028 and carries a warrant for 641,163 shares at $2.32. CalciMedica says the first tranche extends its cash runway to the middle of 2026.
CALCThe later date applies only if none of the company's 1.5% convertible notes due May 24, 2026 remain outstanding. Otherwise the loan comes due earlier.
HRTXAkebia drew the extended $10.0 million Tranche C loan on February 3, 2025, the last day of its extension. It received $9.3 million net and issued a warrant to a Kreos affiliate for 1,153,846 shares at $1.30 a share.
AKBAAkebia received net proceeds of $9.3 million on February 3, 2025. The warrant has an exercise price of $1.30 per share and runs eight years.
AKBAThe unsecured notes carry 8% interest and convert into Series D-1 preferred stock at $2.8620 per share. The board also approved the closing of a 2024 financing under which the company had received $1,000,000 in notes.
PVCTAlto Neuroscience's January 13, 2025 amendment lifts the maximum term loans from $35.0 million to $75.0 million and moves maturity to January 1, 2029. Only $20.0 million was funded at signing, and about $10 million of that went to refinance the old loan and pay fees.
ANROThe loan agreement allows up to $150.0 million, with the remaining $50.0 million at the lenders' sole discretion. The loan matures January 1, 2030 and comes with warrants for 140,741 shares at $14.21. Oxford Finance LLC is collateral agent.
INBXThe note purchase agreement allows up to $150.0 million of notes with interest capped at 9.75%. Verastem also sold 1,416,939 shares to Oberland funds at $5.2931 per share and received about $32.3 million in net proceeds from the notes after the Oxford payoff. Its year-end cash figure is unaudited and preliminary.
VSTMThe five-year facility pays interest only until March 2028. Oxford also received warrants for 140,741 shares at $14.21 per share.
INBXThe note carries 9% annual interest and matures in 18 months. Cingulate says the money extends its cash runway into the fourth quarter of 2025.
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