Nabriva Therapeutics extends loan principal payments for six months

By Rebecca Melvin

Concord, N.H., June 3 – Nabriva Therapeutics plc has reached an agreement with Hercules Capital to extend principal payments under its existing loan agreement until at least Jan. 1, 2022.

Repayments of the outstanding principal amounts under the company’s debt facility had been scheduled to begin on July 1. Terms of the amended agreement provide for an initial six-month extension with the ability to delay the principal debt repayments until July 1, 2022, upon achievement of certain financing and product revenue milestones, according to a company news release.

The company also announced an extension of its cash runway. Based on its current operating plans and following the extension of the principal debt repayments under its loan agreement, the company expects that its existing cash resources, including proceeds raised under its at-the-market offering facility since May 6 will be sufficient to enable the company to fund its operating expenses, debt service obligations and capital expenditure requirements substantially through the first quarter of 2022.

The biopharmaceutical company develops anti-infective agents to treat serious infections from its headquarters in Dublin, Ireland.

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