Altimmune, Inc.

8. Other Noncurrent Liabilities

The Company’s other noncurrent liabilities are summarized as follows (in thousands):

R&D Tax Incentive Program

During the years ended December 31, 2025 and 2024, the Company received a total of $0.4 million and $0.1 million in cash for R&D incentive credit, respectively, related to R&D costs that the Company incurred during the fiscal year 2024 and 2023, respectively, through the participation in the Australian R&D credit program administered through the ATO. The Company recorded the receipt as noncurrent liability until there is reasonable assurance that the Company complies with the conditions attached to the incentive credit.

Economic Incentive Grants

The Company hadtwo conditional economic incentive grants for a total of $250,000 from Montgomery County, Maryland and the State of Maryland. The Montgomery County grant of $100,000 was received in May 2018, with a term expiring on February 28, 2028. The State of Maryland grant of $150,000 was received in October 2019, with a 10-year term expiring on December 31, 2029. These grants are conditional primarily based on the Company maintaining its current headquarter locations in addition to employing a required number of employees at different reporting dates through the term of the grants. The annual interest rate on both economic incentive grants is 3%. During the year ended December 31, 2023, the Company repaid approximately $99,000 of the State of Maryland grant, including accrued interest, as the Company didn’t meet the required number of employees as of December 31, 2022 as per terms of the grant.