Alvotech Raises $165 Million Through Public Offering and Private Placement

Biotechnology company Alvotech announced on June 18, 2026, the successful closing of its public offering and a concurrent private placement, which together generated approximately $165 million in gross proceeds. The company intends to use these funds to advance its pipeline of biosimilar drugs.

The public offering involved the sale of 26,066,667 ordinary shares at $3.75 per share. Underwriters fully exercised their option to purchase additional shares, contributing significantly to the total proceeds. Separately, Alvotech secured approximately $67 million from a private placement of 17,826,666 ordinary shares at the same price, which is expected to close by June 25, 2026.

These funds are earmarked for the continued development of Alvotech's biosimilar assets, as well as for working capital and general corporate purposes. This may include intellectual property protection, commercial expenditures, research and development, and potential acquisitions or collaborations.

Alvotech specializes in developing and manufacturing biosimilar medicines, aiming to provide more affordable treatment options for patients globally. The company has a pipeline of biosimilar candidates targeting various diseases, including autoimmune disorders, eye conditions, and cancer. BofA Securities, Jefferies, and Evercore ISI served as joint book-running managers for the public offering.