Long-term debt	9 Months Ended
Sep. 30, 2025
Long-term debt
Long-term debt	7Long-term debt On June 14, 2013, the Company entered into a venture debt loan facility with Hercules Capital, Inc. (“Hercules”). The facility has been amended at various times, including on July 22, 2024 (the “2024 Amended Facility”) and most recently on September 22, 2025 (the “2025 Amended Facility), upon which date the amendment closed (the “Amendment Closing Date”). On the Amendment Closing Date, the Company drew down $50.0 million (the “Tranche 1 Advance”) of the 2025 Amended Facility to repay the $50.0 million then outstanding under the 2024 Amended Facility. A facility charge of $0.2 million was incurred on the Amendment Closing Date. The 2024 Amended Facility was due on January 7, 2027 and bore interest at a rate equal to the greater of (i) 7.95% and (ii) 7.95% plus the prime rate less 3.25% per annum, reflecting a floating rate of 11.95% at the Amendment Closing Date. Pursuant to the 2025 Amended Facility, additional term loans of $125.0 million were made available. The Company may draw down (i) an additional $100.0 million in two increments of at least $25.0 million (the “Tranche 2 Advances”), following the approval of a Biologics License Application (“BLA”) for AMT-130 prior to June 15, 2027, provided that confirmatory trials to the extent and in the manner required to support full approval (if applicable) remain ongoing or are being planned, and (ii) an additional $25.0 million in a single advance (the “Tranche 3 Advance”), subject to approval by Hercules. Advances under the 2025 Amended Facility bear interest at a rate equal to the greater of (i) 9.45% and (ii) the sum of the prime rate and 2.45%, reflecting a current floating rate of 9.70%. The 2025 Amended Facility matures on October 1, 2030, upon which date the Company is required to repay the principal balance and any unpaid interest on advances received. The interest-only period of the 2025 Amended Facility is effective through October 1, 2028. The interest-only period will be extended to October 1, 2029 if the BLA for AMT-130 is approved prior to June 15, 2027. The 2025 Amended Facility will be interest-only if certain commercial milestones are met prior to December 31, 2028. The Company may prepay all or part of the outstanding principal together with a prepayment charge of 1.50% if repayment occurs within the first 30 months following the Amendment Closing Date, and thereafter, with a prepayment charge of 0.75%. Pursuant to the terms of the 2025 Amended Facility, the Company owes a back-end fee on December 1, 2025. Absent a default or prepayment of the loan, a back-end fee of $0.6 million is due on January 5, 2027. An end-of-term charge of 2.75% of the aggregate principal outstanding is due if repaid within 18 months of the Amendment Closing Date, otherwise 5.50% if repaid thereafter. The total principal outstanding as of September 30, 2025 under the 2025 Amended Facility was $50.0 million. The amortized cost, including interest due presented as part of Accrued expenses and other current liabilities, was $52.4 million as of September 30, 2025, compared to $51.9 million as of December 31, 2024, and is recorded net of discount and debt issuance costs. The foreign currency gain on the loan facilities in the three and nine months ended September 30, 2025 was $2.8 million and $9.2 million, respectively, compared to a foreign currency gain of $2.6 million and a foreign currency loss of $0.4 million, respectively, during the same periods in 2024. Interest expense during the three and nine months ended September 30, 2025 was $1.8 million and $5.4 million, respectively, compared to $3.7 million and $11.1 million, respectively, during the same periods in 2024. The Company repaid $50.0 million of the outstanding principal amount of the 2024 Amended Facility on July 19, 2024. Under the 2025 Amended Facility, the Company must remain current in its periodic reporting requirements. Unless the Company maintains a minimum market capitalization threshold of at least $1,200.0 million, the Company, beginning January 1, 2027 (the “Test Date”), is required at all times to keep a minimum cash balance deposited in bank accounts in the U.S. of at least the lesser of (i) 65% of the outstanding balance of aggregate principal due, provided that such percentage will be reduced to 50% upon the occurrence of the approval of a BLA for AMT-130 prior to June 15, 2027, and further reduced to 35% upon the occurrence of the contractually defined commercial milestones or (ii) 100% of worldwide cash and cash equivalents. The 2025 Amended Facility also provides for a certain performance covenant related to AMT-130 net product revenue which would apply nine months past a potential BLA approval of AMT-130, unless the Company maintains a minimum market capitalization threshold of at least $1,200.0 million. The 2025 Amended Facility restricts the Company’s ability, among other things, to incur future indebtedness and obtain additional debt financing, make investments in securities or in other companies, transfer assets, perform certain corporate changes, own or hold certain digital assets, make loans to employees, officers, and directors, and make dividend payments and other distributions to its shareholders. The 2025 Amended Facility is secured by a direct or indirect pledge of the Company’s total assets of $888.4 million, less $80.6 million of cash and cash equivalents and other current assets held by the Company, and $88.7 million of other current assets and investments held by uniQure France SAS as well as receivables sold to HemB SPV, L.P. as described in Note 8 “Royalty Financing Agreement”. In accordance with the 2025 Amended Facility, the Company was in compliance with all applicable covenants as of September 30, 2025.

Long-term debt

9 Months Ended

Sep. 30, 2025

7Long-term debt

On June 14, 2013, the Company entered into a venture debt loan facility with Hercules Capital, Inc. (“Hercules”). The facility has been amended at various times, including on July 22, 2024 (the “2024 Amended Facility”) and most recently on September 22, 2025 (the “2025 Amended Facility), upon which date the amendment closed (the “Amendment Closing Date”).

On the Amendment Closing Date, the Company drew down $50.0 million (the “Tranche 1 Advance”) of the 2025 Amended Facility to repay the $50.0 million then outstanding under the 2024 Amended Facility. A facility charge of $0.2 million was incurred on the Amendment Closing Date. The 2024 Amended Facility was due on January 7, 2027 and bore interest at a rate equal to the greater of (i) 7.95% and (ii) 7.95% plus the prime rate less 3.25% per annum, reflecting a floating rate of 11.95% at the Amendment Closing Date.

Pursuant to the 2025 Amended Facility, additional term loans of $125.0 million were made available. The Company may draw down (i) an additional $100.0 million in two increments of at least $25.0 million (the “Tranche 2 Advances”), following the approval of a Biologics License Application (“BLA”) for AMT-130 prior to June 15, 2027, provided that confirmatory trials to the extent and in the manner required to support full approval (if applicable) remain ongoing or are being planned, and (ii) an additional $25.0 million in a single advance (the “Tranche 3 Advance”), subject to approval by Hercules. Advances under the 2025 Amended Facility bear interest at a rate equal to the greater of (i) 9.45% and (ii) the sum of the prime rate and 2.45%, reflecting a current floating rate of 9.70%.

The 2025 Amended Facility matures on October 1, 2030, upon which date the Company is required to repay the principal balance and any unpaid interest on advances received. The interest-only period of the 2025 Amended Facility is effective through October 1, 2028. The interest-only period will be extended to October 1, 2029 if the BLA for AMT-130 is approved prior to June 15, 2027. The 2025 Amended Facility will be interest-only if certain commercial milestones are met prior to December 31, 2028.

The Company may prepay all or part of the outstanding principal together with a prepayment charge of 1.50% if repayment occurs within the first 30 months following the Amendment Closing Date, and thereafter, with a prepayment charge of 0.75%. Pursuant to the terms of the 2025 Amended Facility, the Company owes a back-end fee on December 1, 2025. Absent a default or prepayment of the loan, a back-end fee of $0.6 million is due on January 5, 2027. An end-of-term charge of 2.75% of the aggregate principal outstanding is due if repaid within 18 months of the Amendment Closing Date, otherwise 5.50% if repaid thereafter.

The total principal outstanding as of September 30, 2025 under the 2025 Amended Facility was $50.0 million. The amortized cost, including interest due presented as part of Accrued expenses and other current liabilities, was $52.4 million as of September 30, 2025, compared to $51.9 million as of December 31, 2024, and is recorded net of discount and debt issuance costs. The foreign currency gain on the loan facilities in the three and nine months ended September 30, 2025 was $2.8 million and $9.2 million, respectively, compared to a foreign currency gain of $2.6 million and a foreign currency loss of $0.4 million, respectively, during the same periods in 2024.

Interest expense during the three and nine months ended September 30, 2025 was $1.8 million and $5.4 million, respectively, compared to $3.7 million and $11.1 million, respectively, during the same periods in 2024. The Company repaid $50.0 million of the outstanding principal amount of the 2024 Amended Facility on July 19, 2024.

Under the 2025 Amended Facility, the Company must remain current in its periodic reporting requirements. Unless the Company maintains a minimum market capitalization threshold of at least $1,200.0 million, the Company, beginning January 1, 2027 (the “Test Date”), is required at all times to keep a minimum cash balance deposited in bank accounts in the U.S. of at least the lesser of (i) 65% of the outstanding balance of aggregate principal due, provided that such percentage will be reduced to 50% upon the occurrence of the approval of a BLA for AMT-130 prior to June 15, 2027, and further reduced to 35% upon the occurrence of the contractually defined commercial milestones or (ii) 100% of worldwide cash and cash equivalents. The 2025 Amended Facility also provides for a certain performance covenant related to AMT-130 net product revenue which would apply nine months past a potential BLA approval of AMT-130, unless the Company maintains a minimum market capitalization threshold of at least $1,200.0 million. The 2025 Amended Facility restricts the Company’s ability, among other things, to incur future indebtedness and obtain additional debt financing, make investments in securities or in other companies, transfer assets, perform certain corporate changes, own or hold certain digital assets, make loans to employees, officers, and directors, and make dividend payments and other distributions to its shareholders. The 2025 Amended Facility is secured by a direct or indirect pledge of the Company’s total assets of $888.4 million, less $80.6 million of cash and cash equivalents and other current assets held by the Company, and $88.7 million of other current assets and investments held by uniQure France SAS as well as receivables sold to HemB SPV, L.P. as described in Note 8 “Royalty Financing Agreement”. In accordance with the 2025 Amended Facility, the Company was in compliance with all applicable covenants as of September 30, 2025.