Rocket Pharmaceuticals has secured access to up to $150 million in financing from Hercules Capital as the biotechnology company looks to strengthen its balance sheet and fund a pivotal study of its gene therapy candidate for Danon disease.
The agreement gives Rocket an immediate $35 million and the option to draw another $35 million during specified periods, subject to the terms of the facility. A further $30 million could become available if Rocket achieves a specified clinical milestone in its Danon program, while another $50 million remains subject to approval by Hercules’ investment committee.
The financing comes as Rocket advances RP-A501, its gene therapy candidate for Danon disease, through a pivotal Phase 2 study and continues development of its broader cardiovascular pipeline targeting rare inherited heart conditions.
“Building on the sale of our priority review voucher, this financing diversifies our sources of capital and strengthens our ability to execute and deliver on our cardiovascular strategy,” said Gaurav Shah, Chief Executive Officer of Rocket Pharmaceuticals.
“The staged structure provides flexibility to align additional funding with progress across our programs. We remain focused on allocating capital thoughtfully, executing the pivotal Danon study and advancing genetic medicines for patients with serious inherited heart diseases”
Hercules said the financing is designed to support Rocket as it reaches key development milestones.
“Rocket is advancing toward important milestones across its cardiovascular pipeline, led by the pivotal Danon program,” said R. Bryan Jadot, Senior Managing Director and Group Head of Life Sciences at Hercules Capital. “We are pleased to provide a flexible financing solution that supports the Company’s development priorities. We look forward to working alongside Rocket as it builds on its expertise in cardiovascular genetic medicines.”
The credit facility includes an initial 30-month interest-only period and a 48-month maturity, with potential extensions tied to specified milestones. It also includes warrants to purchase Rocket common stock.
The financing gives Rocket additional room to execute its development strategy at a time when the company is seeking to advance its lead cardiovascular programs without relying solely on equity financing.
Rocket reported $283.7 million in cash, cash equivalents and investments as of June 30, 2026. Including the initial $35 million from Hercules, the company expects its existing resources to fund planned operations through the third quarter of 2028 under its current operating plan.
Further draws under the facility could extend Rocket’s cash runway into 2029, although that will depend on the company meeting borrowing conditions, the timing and size of future draws and its operating expenditures.
The deal follows Rocket’s sale of a priority review voucher and adds another source of capital as the company moves its Danon disease program toward potentially significant clinical milestones.
