(RTTNews) - Alvotech (ALVO), a biotechnology company, on Wednesday announced the amendment of an existing credit agreement with GoldenTree Asset Management LP and other leaders of Alvotech to gain access to an additional $75 million in capital.
Alvotech entered a loan facility agreement with GoldenTree in December 2025 for an initial amount of $100 million, with a monthly interest rate of 12.5% payable in cash. The loan facility is expected to mature on December 31, 2027.
The new loan facility supplements the $165 million acquired via a private placement reported on June 18, 2026, bringing the total capital accessible to the company at $240 million.
The new capital may be utilized by the company in advancing biologics license applications (BLAs) for various developing biosimilars. The BLA for an Entyvio biosimilar, one of the lead candidates of Alvotech, was recently accepted for review by the FDA.
ALVO closed Tuesday at $3.69, down 0.81%. In the pre-market, shares are trading at $3.80, up 2.98%.
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