Announcement • Jul 20
Armata Pharmaceuticals, Inc. Appoints David House as Chief Financial Officer, Effective July 17, 2026 Armata Pharmaceuticals, Inc. promoted and appointed David House as the Company's Chief Financial Officer, effective July 17, 2026. Mr. House previously served as the Company's Senior Vice President, Finance and principal financial officer since August 2024. Announcement • Jul 13
Armata Pharmaceuticals Receives Agreement From FDA On Initial Pediatric Study Plan For AP-SA02 For The Treatment Of Complicated Staphylococcus Aureus Bacteremia Armata Pharmaceuticals, Inc. has received agreement from the U.S. Food and Drug Administration on an Agreed Initial Pediatric Study Plan, which establishes the agreed regulatory framework for the future evaluation of AP-SA02 for the adjunct treatment of complicated Staphylococcus aureus bacteremia in pediatric patients. Agreement with the FDA on an iPSP is a regulatory requirement that must be met prior to submitting a Biologics License Application. The Agreed iPSP outlines a proposed pediatric development program targeting patients up to 17 years of age with complicated Staphylococcus aureus bacteremia, the same indication that Armata is pursuing in adults. Consistent with FDA requirements under the Pediatric Research Equity Act and with established FDA and European Medicines Agency regulatory frameworks, the FDA agreed that because the disease pathophysiology and treatment response in Staphylococcus aureus bacteremia are consistent across all age groups, pediatric studies should be deferred until safety and efficacy data are generated in adults in the planned Phase 3 program. Following completion of the adult Phase 3 study which is expected to initiate in the second half of 2026, the proposed program will comprise a single, multicenter, open-label, pediatric study to assess safety, tolerability, and clinical response outcomes. This strategy establishes a pathway for potential future expansion of AP-SA02 into the pediatric population while prioritizing patient safety and efficient clinical development. Armata is developing AP-SA02, a fixed multi-phage cocktail, for the adjunct treatment of complicated Staphylococcus aureus bacteremia caused by methicillin-sensitive Staphylococcus aureus or methicillin-resistant Staphylococcus aureus. AP-SA02 has received Qualified Infectious Disease Product and Fast Track designations from the FDA. The diSArm study (NCT05184764) was a Phase 1b/2a, multicenter, randomized, double-blind, placebo-controlled, multiple ascending dose escalation study of the safety, tolerability, and efficacy of intravenous AP-SA02 in addition to best available antibiotic therapy compared to best available antibiotic therapy alone (placebo) for the treatment of adults with complicated Staphylococcus aureus bacteremia. Positive results from the Phase 2a diSArm study were highlighted in a late-breaking oral presentation at IDWeek 2025 in October 2025. The Company plans to advance AP-SA02 into a Phase 3 superiority study in complicated Staphylococcus aureus bacteremia, anticipated to initiate in the second half of 2026. Announcement • Jun 25
Armata Pharmaceuticals, Inc. Appoints Daniel Gilmer to Serve on the Nominating and Corporate Governance Committee of the Board, Effective as of June 24, 2026 Armata Pharmaceuticals, Inc. announced that on June 24, 2026, the Board appointed Dr. Daniel Gilmer to serve on the Nominating and Corporate Governance Committee of the Board (the “Nominating and Corporate Governance Committee”), effective as of June 24, 2026. Announcement • Jun 23
Armata Pharmaceuticals Receives USD 2.5 Million Additional Non-Dilutive Award Funding From U.S. Department Of Defense To Support AP-SA02 Armata Pharmaceuticals, Inc. announced that it had received USD 2.5 million of additional non-dilutive award funding from the U.S. Department of Defense for the development of AP-SA02, the Company's intravenously administered Staphylococcus aureus phage product candidate, to treat complicated bacteremia infections. The full text of the press release issued in connection with this announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference. Armata Pharmaceuticals, Inc. announced that it has received an additional USD 2.5 million of non-dilutive funding pursuant to a previously announced Department of Defense (DoD) award, received through the Medical Technology Enterprise Consortium (MTEC) and managed by the Naval Medical Research Command (NMRC) - Naval Advanced Medical Development (NAMD) with funding from the Defense Health Agency and Joint Warfighter Medical Research Program. The award, which now totals USD 28.7 million, supports the development of Armata's lead clinical candidate AP-SA02, for adjunct treatment of complicated Staphylococcus aureus ("S. aureus") bacteremia ("SAB") caused by methicillin-sensitive S. aureus ("MSSA") or methicillin resistant S. aureus ("MRSA"). The additional USD 2.5 million is intended to fund key activities to support Phase 3 readiness of AP-SA02. Announcement • Feb 24
Armata Pharmaceuticals, Inc. Receives FDA Qualified Infectious Disease Product (QIDP) Designation for AP-SA02 Armata Pharmaceuticals, Inc. announced that the U.S. Food and Drug Administration (the "FDA") has granted AP-SA02, the Company's Staphylococcus aureus ("S. aureus") multi-phage product candidate, for intravenous use as a Qualified Infectious Disease Product ("QIDP") for adjunct treatment of complicated bacteremia caused by methicillin-sensitive S. aureus ("MSSA") or methicillin resistant S. aureus ("MRSA"). To achieve QIDP designation, a drug candidate must be intended to treat serious or life-threatening infections, particularly those caused by bacteria and fungi that are resistant to treatment, or that treat qualifying resistant pathogens identified by the FDA. The QIDP designation makes AP-SA02 eligible to benefit from certain incentives for the development of new antibacterials provided under the Generating Antibiotic Incentives Now (GAIN) Act, including an additional five-year extension of Hatch-Waxman market exclusivity. Further, the QIDP designation makes AP-SA02 eligible for Fast Track status, which provides an opportunity for more frequent meetings and communication with the FDA, priority and rolling review, leading to potential accelerated approval of its Biologics License Application. The Company plans to submit to the FDA a request for Fast Track Designation for AP-SA02. Announcement • Jan 13
Armata Pharmaceuticals, Inc. Announces End-of-Phase 2 Meeting with FDA and Plans to Advance AP-SA02 to a Phase 3 Superiority Study in Complicated S aureus bacteremia Armata Pharmaceuticals, Inc. announced the conclusion of an End-of-Phase 2 ("EOP2") written response from the U.S. Food and Drug Administration ("FDA") and plans to advance the Company's intravenously-administered Staphylococcus aureus bacteriophage product candidate, AP-SA02, into a Phase 3 clinical study in complicated S. aureus bacteremia. The Phase 3 study is anticipated to initiate in the second half of 2026. FDA's Center for Biologics Evaluation and Research division, upon reviewing Armata's detailed EOP2 background package, confirmed that the safety and efficacy data from Armata's Phase 2a diSArm study support advancement to Phase 3. The FDA provided critical guidance on key elements of the Phase 3 study design, which will assess the superiority of AP-SA02 over the current standard of care for the treatment of complicated S. aureus Bacteremia. Armata is addressing FDA comments, including on Chemistry, Manufacturing, and Controls ("CMC") and aligning them with the Company's existing Phase 3 manufacturing and quality strategy. The FDA also included recommendations for the future Biologics License Application and is amenable to Armata submitting a request for Qualified Infectious Disease Product Designation ("QIDP") for AP-SA02. The Company is already addressing many of the clinical and CMC comments from FDA and has submitted the request for QIDP. The results of the Phase 2a diSArm trial were announced in May 2025 and further highlighted in a late-breaking oral presentation at IDWeek 2025™? in October 2025. The results of the Phase 2a diSArm study were announced in May 2025 and further highlighted in a late-breaking oral presentation at IDWeek 2025™ in October 2025. The primary study endpoint for the Phase 3 superiority study is expected to be clinical response at end of best available antibiotic therapy ("BAT") and 28 days later at End of Study. Safety and healthcare resource impact analyses will be included. Announcement • Dec 02
Armata Pharmaceuticals, Inc. has filed a Follow-on Equity Offering in the amount of $100 million. Armata Pharmaceuticals, Inc. has filed a Follow-on Equity Offering in the amount of $100 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Announcement • Oct 22
Armata Pharmaceuticals Highlights Positive Results from Phase 2a diSArm Study of its Staphylococcus Aureus Bacteriophage Cocktail, AP-SA02, in Late-Breaking Oral Presentation at IDWeek 2025 Armata Pharmaceuticals, Inc. highlighted positive results from its recently completed Phase 2a diSArm study of AP-SA02 as a potential treatment for complicated Staphylococcus aureus ("S. aureus") bacteremia ("SAB") in a late-breaking oral presentation at IDWeek 2025™. The abstract, titled, "A Phase 2a Randomized, Double-Blind, Controlled Trial of the Efficacy and Safety of an Intravenous (IV) Bacteriophage Cocktail (AP-SA02) vs. Placebo in Combination with Best Available Antibiotic Therapy (BAT) in Patients with Complicated Staphylococcus auresus Bacteremia," was accepted as a highly coveted late-breaking abstract for oral presentation, and was presented by Dr. Loren G. Miller, M.D., M.P.H., Professor of Medicine, David Geffen School of Medicine at UCLA, Chief, Division of Infectious Diseases at Harbor-UCLA Medical Center and the Lundquist Institute. New findings demonstrate that the defined and reproducible genomic variants present in AP-SA02 Drug Product may provide an immediate advantage, enabling rapid, strain-specific response to each patient's S. aureus isolate. These results strongly support advancement into a pivotal Phase 3 trial that Armata plans to initiate in 2026, subject to review and feedback from the U.S. Food and Drug Administration (the "FDA"). The Company is engaged with the FDA regarding a potential superiority trial design. Armata is developing AP-SA02, a fixed multi-phage phage cocktail, for the treatment of complicated bacteremia caused by Staphylococcus auredus (S. aureus), including methicillin-sensitive S. aureus (MSSA) and methicillin-resistant S. aureus (MRSA) strains. The results from the diSArm study are an important step forward in Armata's effort to confirm the potent antimicrobial activity of phage therapy and the completion of the study represents a significant milestone in the development of AP-SA02, moving Armata one step closer to introducing an effective new treatment option to patients suffering from complicated S. aureus bacteremia. The Phase 1b/2a clinical development of AP-SA02 was partially supported by a $26.2 million Department of Defense (DoD) award, received through the Medical Technology Enterprise Consortium (MTEC) and managed by the Naval Medical Research Command (NMRC) - Naval Advanced Medical Development (NAMD) with funding from the Defense Health Agency and Joint Warfighter Medical Research Program. Announcement • Oct 15
Armata Pharmaceuticals to Present Late-Breaking Clinical Data Highlighting Its Staphylococcus Aureus Bacteriophage Cocktail, Ap-Sa02, At Idweek 2025 Armata Pharmaceuticals, Inc. announced it will be presenting late-breaking Phase 2a clinical data on its Staphylococcus aureus aureus bacteriophage cocktail, AP-SA02, at IDWeek 2025™?, which is being held October 19-22, 2025, in Atlanta, GA. Details of the oral presentation are as follows: Presentation Title: A Phase 2a Randomized, Double-Blind, Controlled Trial of the Efficacy and Safety of an Intravenous (IV) Bacteriophage Cocktail (AP-SA02) vs. Placebo in Combination with Best Available Antibiotic Therapy (BAT) in Patients with Complicated Staphylococcus auresus Bacteremia. Announcement • May 20
Armata Pharmaceuticals, Inc. Announces Positive Topline Data from the Phase 1B/2A diSArm Study of Intravenous Administration AP-SA02 in Complicated Staphylococcus Aureus Bacteremia Armata Pharmaceuticals, Inc. announced positive topline results from its Phase 1b/2a diSArm trial which evaluated AP-SA02, a novel intravenous ("IV") administered multi-phage therapeutic for the treatment of Staphylococcus aureus ("S. aureus") bacteremia ("SAB"), in the intent-to-treat ("ITT") population. The primary clinical efficacy endpoint for the Phase 2a portion of the diSArm study was clinical outcome (responder rate) in subjects with complicated bacteremia, measured at (i) Test of Cure ("TOC") for AP-SA02, defined as one week following the end of IV treatment with AP-SA02 (day 12), (ii) TOC for BAT, defined as one week following of IV BAT, and (iii) end of study ("EOS"), defined as four weeks following the end of IV BAT. A statistically significant increase in investigator-assessed responder rate was observed at TOC for AP-SA02 (day12) in AP-SA02 treated subjects (88%) versus placebo (58%) (p = 0.047). At TOC for BAT and at EOS, 100% of the AP-SA02 treated subjects had clinically responded (p = 0.017) versus 25% of placebo subjects considered non-responsive due to either relapse or treatment failure, consistent with the non-responder rate reported in the literature for recent phase 3 trials. Of note, the clinical response with AP-SA02 occurred regardless of whether subjects were infected with methicillin-sensitive S. aureus ("MSSA") or methicillin-resistant S. aureus ("MRSA"). This clinical trial is groundbreaking in two fundamental ways: firstly, this is the first clear evidence in a randomized controlled trial of the efficacy of phage against a serious systemic pathogen that is responsible for significant morbidity and mortality in the United States, and secondly, Armata was able to successfully produce high titer phage with high purity allowing for repetitive IV administration every six hours without significant safety concerns. Announcement • Apr 05
Armata Pharmaceuticals, Inc., Annual General Meeting, Jun 12, 2025 Armata Pharmaceuticals, Inc., Annual General Meeting, Jun 12, 2025. Location: 5005 mcconnell avenue, california 90066, los angeles United States Announcement • Dec 19
Armata Pharmaceuticals, Inc. Announces Encouraging Results from the Phase 2 Tailwind Study of Inhaled AP-PA02 in Non-Cystic Fibrosis Bronchiectasis Subjects with Chronic Pulmonary Pseudomonas aeruginosa Infection Armata Pharmaceuticals, Inc. announced encouraging topline results from its Phase 2 ("Tailwind") trial evaluating AP-PA02, a novel, inhaled multi-phage therapeutic for the treatment of chronic pulmonary Pseudomonas aeruginosa ("P.a." or "P. aeruginosa") infections in non-cystic fibrosis bronchiectasis ("NCFB") patients. This is the second successful clinical trial AP-PA02, Armata's lead pulmonary candidate, which was first evaluated in cystic fibrosis patients in the Phase 1b/2a SWARM-P.a. trial, completed in 2023. The Tailwind study (NCT05616221) was a multicenter, randomized, double-blind, placebo-controlled trial that evaluated the safety, pharmacokinetics and efficacy of inhaled AP-PA02. The Tailwind study was conducted in two cohorts running in parallel: subjects in one cohort (cohort A) received inhaled AP-PA02 as monotherapy, while subjects in another cohort (cohort B) received inhaled anti-pseudomonal antibiotic treatment. The study data indicate the potential for phage therapy to reduce reliance on chronic antibiotic use. Safety data indicate that inhaled AP-PA02 was well-tolerated with treatment-emergent adverse events mild and self-limiting. The company believe the safety and tolerability of AP-PA02 exhibited a promising profile for treating chronically infected NCFB patients. Announcement • Dec 06
Armata Pharmaceuticals, Inc. Concludes Employment Agreement with Mina Pastagia as Chief Medical Officer On November 15, 2024, Armata Pharmaceuticals, Inc. disclosed that it had reached an agreement with Mina Pastagia, M.D. (“Dr. Pastagia”), the Company’s Chief Medical Officer, pursuant to which Dr. Pastagia’s employment had concluded effective as of November 13, 2024. In connection with Dr. Pastagia’s separation, on December 2, 2024, the Company entered into a Separation and Release Agreement with Dr. Pastagia (the “Separation Agreement”) pursuant to which, in consideration for Dr. Pastagia’s general release of claims in favor of the Company and its affiliates, Dr. Pastagia will be entitled to the continued payment of her base salary for twelve months following the Termination Date. Dr. Pastagia’s receipt of the foregoing payments is subject to her non-revocation of and compliance with the Separation Agreement. Reported Earnings • Nov 16
Third quarter 2024 earnings released: US$0.15 loss per share (vs US$0.86 loss in 3Q 2023) Third quarter 2024 results: US$0.15 loss per share (improved from US$0.86 loss in 3Q 2023). Net loss: US$5.48m (loss narrowed 82% from 3Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Biotechs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Nov 12
Armata Pharmaceuticals Announces the Completion of Enrollment of its Phase 1b/2a diSArm Study Evaluating Intravenous AP-SA02 as a Potential Treatment for Staphylococcus aureus Bacteremia Armata Pharmaceuticals, Inc. announced that it has achieved full enrollment (n=50) of its Phase 1b/2a diSArm study of intravenous AP-SA02 as a potential treatment for Staphylococcus aureus (S. aureus) bacteremia. Armata anticipates topline data from the diSArm study in the first quarter of 2025. During the Phase 2a portion of diSArm, Armata focused on evaluating clinical safety of higher intravenous doses of AP-SA02 and accelerating enrollment to arrive at topline data expeditiously. The manufacture of highly purified phages using Armata's proprietary methods enabled dose escalation to 5E10 PFU every six hours (2E11 PFU every 24 hours) for five days without clinically significant adverse events. In parallel with dose escalation, the evolution of two distinct blinded subsets of subjects receiving phage has been observed. One subset, comprising approximately half of the treated group, has evidence of persistence of detectable phage in the blood providing early evidence of in vivo phage amplification and resultant release of phage progeny. The Company anticipates topline data from the diSArm study in the first quarter of 2025 where it can explore the two aforementioned subsets in an unblinded manner. Topline results are also expected to inform the optimal dose of AP-SA02 to be evaluated in the larger definitive efficacy study. Armata remains committed to developing a pivotal S. aureus bacteremia trial in 2025 to evaluate the intravenous phage product candidate, AP-SA02, as an adjunct to standard of care broad-spectrum antibiotics and/or potentially as an alternative to broad-spectrum antibiotics. Modern medicine requires a hard look at reliance on broad-spectrum antibiotics and their detrimental impact on the healthy human microbiome. The Company plans to discuss its pivotal trial design with the U.S. Food and Drug Administration. The clinical development of AP-SA02 is supported in part by $21.6 million funds from the Defense Health Agency and Joint Warfighter Medical Research Program received through the MTEC and managed by the NMRC-NAMD. The diSArm study is a Phase 1b/2a, randomized, double-blind, placebo-controlled, multiple ascending dose escalation study of the safety, tolerability, and efficacy of intravenous AP-SA02 as an adjunct to best available antibiotic therapy (BAT) compared to BAT alone for the treatment of adults with bacteremia due to S. aureus. The Phase 1b portion evaluated the safety and tolerability of multiple ascending intravenous doses of AP-SA02 or placebo as an adjunct to BAT compared to BAT alone in subjects with S. aureus bacteremia. The Phase 2a portion evaluated the efficacy, safety, and tolerability of multiple doses of intravenous AP-SA02 or placebo as an adjunct to BAT compared to BAT alone in subjects with complicated S. aureus bacteremia. New Risk • Sep 03
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$46m free cash flow). Share price has been highly volatile over the past 3 months (15% average weekly change). Negative equity (-US$46m). Earnings are forecast to decline by an average of 2.7% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable next year (US$51m net loss next year). Revenue is less than US$5m (US$3.7m revenue). Market cap is less than US$100m (€80.3m market cap, or US$88.6m). Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: US$0.25 (vs US$0.098 loss in 2Q 2023) Second quarter 2024 results: EPS: US$0.25 (up from US$0.098 loss in 2Q 2023). Net income: US$8.99m (up US$12.5m from 2Q 2023). Revenue is forecast to grow 63% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Biotechs industry in Germany. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Aug 01
Armata Pharmaceuticals Receives $5.25 Million of Additional Non-Dilutive Grant Funding from the U.S. Department of Defense to Support Ongoing diSArm Clinical Trial of AP-SA02 Armata Pharmaceuticals, Inc. announced that it has received an additional $5.25 million of non-dilutive funding pursuant to a previously announced Department of Defense grant, received through the Medical Technology Enterprise Consortium (MTEC) and managed by the Naval Medical Research Command (NMRC) – Naval Advanced Medical Development (NAMD) with funding from the Defense Health Agency and Joint Warfighter Medical Research Program. The grant was awarded to Armata to support clinical development of its optimized phage candidate, AP-SA02, as a potential treatment for complicated Staphylococcus aureus bacteremia. The diSArm study is a Phase 1b/2a, randomized, double-blind, placebo-controlled, multiple ascending dose escalation study of the safety, tolerability, and efficacy of intravenous AP-SA02 as an adjunct to best available antibiotic therapy compared to best available antibiotic therapy alone for the treatment of adults with bacteremia due to Staphylococcus aureus. This study is being conducted in two phases: Phase 1b evaluated the safety and tolerability of multiple ascending intravenous doses of AP-SA02 or placebo as an adjunct to best available therapy (BAT) compared to BAT alone in subjects with SA bacteremia (SAB). Phase 2a is evaluating the efficacy, safety, and tolerability of multiple doses of AP-SA02 or placebo as an adjunct to BAT compared to BAT alone in subjects with complicated SAB. The study is expected to enroll approximately 50 subjects. The study is currently 68% enrolled. Announcement • Jul 11
Armata Pharmaceuticals, Inc. Announces Completion of Enrollment of Phase 2 Tailwind Study of Inhaled Ap-Pa02 in Non-Cystic Fibrosis Bronchiectasis Subjects with Chronic Pulmonary Pseudomonas Aeruginosa Infection Armata Pharmaceuticals, Inc. announced that it has achieved full enrollment in its Tailwind Phase 2 clinical study of inhaled AP-PA02 in patients with NCFB and chronic pulmonary Pseudomonas aeruginosa(P. aeruginosa) infection. The last patient final follow-up visit is scheduled for August 7, 2024. Armata anticipates topline data from the Tailwind study in the second half of 2024. The Tailwind study is a Phase 2, multi-center, double blind, randomized, placebo-controlled trial evaluating the safety, tolerability, and efficacy of inhaled AP-PA02 as monotherapy, as well as in combination with inhaled antibiotics in subjects with NCFB and chronic pulmonary P. aeruginosa infection. The primary endpoint is P. aeruginosa recovery in sputum following multiple doses of AP-PA02 administered by inhalation. Reported Earnings • May 09
First quarter 2024 earnings released: US$0.69 loss per share (vs US$0.40 loss in 1Q 2023) First quarter 2024 results: US$0.69 loss per share (further deteriorated from US$0.40 loss in 1Q 2023). Net loss: US$25.0m (loss widened 73% from 1Q 2023). Revenue is forecast to grow 9.4% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Biotechs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Board Change • May 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 11 experienced directors. No highly experienced directors. CEO & Director Deborah Birx was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 01
Armata Pharmaceuticals, Inc., Annual General Meeting, Jun 12, 2024 Armata Pharmaceuticals, Inc., Annual General Meeting, Jun 12, 2024, at 08:30 Pacific Standard Time. Location: 5005 McConnell Avenue Los Angeles California United States Agenda: To elect seven nominees for director to serve one-year terms expiring at the 2025 Annual Meeting of Shareholders and upon their successors being duly elected and qualified; to approve, on an advisory, non-binding basis, the compensation of named executive officers; to ratify the Audit Committee's selection of Ernst & Young LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024; and to conduct any other business properly brought before the meeting or any adjournment or postponement thereof. New Risk • Apr 18
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €84.7m (US$90.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$56m free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Negative equity (-US$32m). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$98m net loss in 3 years). Revenue is less than US$5m (US$4.5m revenue). Market cap is less than US$100m (€84.7m market cap, or US$90.4m). Reported Earnings • Mar 22
Full year 2023 earnings released: US$1.91 loss per share (vs US$1.08 loss in FY 2022) Full year 2023 results: US$1.91 loss per share (further deteriorated from US$1.08 loss in FY 2022). Net loss: US$69.0m (loss widened 87% from FY 2022). Revenue is forecast to grow 62% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Biotechs industry in Germany. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 8% per year. Reported Earnings • Nov 16
Third quarter 2023 earnings released: US$0.86 loss per share (vs US$0.24 loss in 3Q 2022) Third quarter 2023 results: US$0.86 loss per share (further deteriorated from US$0.24 loss in 3Q 2022). Net loss: US$31.2m (loss widened 262% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Oct 31
Armata Pharmaceuticals Announces Presentation of Topline Data from SWARM-P.a. Clinical Study at the North American Cystic Fibrosis Conference Armata Pharmaceuticals, Inc. announced that topline data from the Company's Phase 1b/2a SWARM-P.a. clinical trial evaluating AP-PA02, a novel, inhaled multi-phage therapeutic for the treatment of chronic pulmonary Pseudomonas aeruginosa infections in people with cystic fibrosis (CF) will be mentioned during the North American Cystic Fibrosis Conference (NACFC) Plenary II session. The conference is being held November 2-4, 2023, at the Phoenix Convention Center in Phoenix, AZ. Armata announced positive topline data from the SWARM-P.a. study in March 2023. Plenary II presentation details: Title: "Micro-Management": The Changing Face of Infections in CF Presenters: Natalie E. West, MD, MHS, Johns Hopkins University Lucas R. Hoffman, MD, PhD, Pediatric Pulmonary, Seattle Children's Hospital Date: Friday, November 3rd Time: 5:00pm – 6:15pm ET Session: Plenary Session II location: North Ballroom A-D. Announcement • Sep 27
Armata Pharmaceuticals, Inc. Announces First Patient Dosed in the Phase 2A Portion of the Phase 1b/2a 'Disarm' Study of Ap-Sa02 in Adults with Bacteremia Due to Staphylococcus Aureus Armata Pharmaceuticals, Inc. announced that the first patient has been dosed in the Phase 2a portion of the Company's diSArm study of AP-SA02 as a potential treatment for Staphylococcus aureus bacteremia. Initiation of the Phase 2a portion of The study follows Data Review Committee (DRC) review of positive safety and tolerability data from the Phase 1b portion. The diSArm study is a Phase 1b/2a, randomized, double-blind, placebo-controlled, multiple ascending dose escalation study of the safety, tolerability, and efficacy of intravenous AP-SA02 as an adjunct to best available antibiotic therapy compared to best available antibiotic therapy alone for the treatment of adults with bacteremia due to Staphylococcus aureus. This study is being conducted in two phases: Phase 1b evaluated the safety and tolerability of multiple ascending intravenous doses of AP-SA02 or placebo as an adjunct to best available therapy (BAT) compared to BAT alone in subjects with SA bacteremia (SAB). The Phase 2a is evaluating the efficacy, safety, and tolerability of multiple doses of AP-SA02 or placebo as an adjunct to BAT compared to BAT alone in subjects with complicated SAB. The study will enroll approximately 50 subjects. Armata has received a $16.3 million award to advance development of AP-SA02 from the Department of Defense through the Medical Technology Enterprise Consortium (MTEC) managed by the Naval Medical Research Command with funding from the Defense Health Agency and Joint Warfighter Medical Research Program. New Risk • Aug 15
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: US$4.2m This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$54m free cash flow). Share price has been highly volatile over the past 3 months (27% average weekly change). Earnings are forecast to decline by an average of 12% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$74m net loss in 3 years). Revenue is less than US$5m (US$4.2m revenue). Reported Earnings • Aug 15
Second quarter 2023 earnings released: US$0.098 loss per share (vs US$0.26 loss in 2Q 2022) Second quarter 2023 results: US$0.098 loss per share (improved from US$0.26 loss in 2Q 2022). Net loss: US$3.55m (loss narrowed 62% from 2Q 2022). Revenue is expected to decline by 9.7% p.a. on average during the next 3 years, while revenues in the Biotechs industry in Germany are expected to grow by 15%. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 15% per year. Announcement • Jun 28
Armata Pharmaceuticals, Inc., Annual General Meeting, Aug 29, 2023 Armata Pharmaceuticals, Inc., Annual General Meeting, Aug 29, 2023, at 08:30 Pacific Daylight. Location: 4503 Glencoe Avenue, Marina del Ray, california United States Reported Earnings • May 14
First quarter 2023 earnings released: US$0.40 loss per share (vs US$0.30 loss in 1Q 2022) First quarter 2023 results: US$0.40 loss per share (further deteriorated from US$0.30 loss in 1Q 2022). Net loss: US$14.5m (loss widened 65% from 1Q 2022). Revenue is expected to decline by 19% p.a. on average during the next 3 years, while revenues in the Biotechs industry in Germany are expected to grow by 20%. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 17
Full year 2022 earnings released: US$1.08 loss per share (vs US$0.96 loss in FY 2021) Full year 2022 results: US$1.08 loss per share (further deteriorated from US$0.96 loss in FY 2021). Net loss: US$36.9m (loss widened 59% from FY 2021). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Biotechs industry in Europe. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Jan 12
Armata Pharmaceuticals, Inc. announced that it has received $30 million in funding from Innoviva Strategic Opportunities LLC Armata Pharmaceuticals Inc. entered into a securities purchase agreement with returning investor Innoviva Strategic Opportunities LLC to issue Secured Convertible Loan for gross proceeds of $30,000,000 on January 10, 2023. The company will issue the term loan at an interest rate of 8.0% per annum. The loan has a maturity date of January 10, 2024. Repayment of the Loan is required to be guaranteed by the company’s domestic subsidiaries and foreign material subsidiaries, and the Loan is secured by substantially all of the assets of the Company and the subsidiary guarantors. Announcement • Dec 23
Armata Pharmaceuticals Announces Completion of its Phase 1b/2a 'SWARM-P.a.' Study of Inhaled AP-PA02 in Cystic Fibrosis Subjects with Chronic Pulmonary Pseudomonas aeruginosa Infection Armata Pharmaceuticals, Inc. announced that the last subject has completed the company's Phase 1b/2a 'SWARM-P.a.' clinical trial of its lead candidate, AP-PA02, in cystic fibrosis (CF) subjects with chronic pulmonary Pseudomonas aeruginosa infection. In March 2020, Armata announced that it had been awarded up to $5 million in a therapeutic development award from the CF Foundation to advance development of AP-PA02. In October 2021, the Foundation subsequently made an equity investment of $3 million in Armata to further support this program. The SWARM-P.a. study is a Phase 1b/2a, multi-center, double-blind, randomized, placebo-controlled, single ascending dose (SAD) and multiple ascending dose (MAD) clinical trial to evaluate the safety and tolerability of inhaled AP-PA02 in subjects with cystic fibrosis and chronic pulmonary Pseudomonas aeruginosa infection. The study has been conducted in collaboration with the Cystic Fibrosis Therapeutics Development Network (TDN), the largest CF clinical trials network. For more information about the trial: NCT04596319. Board Change • Nov 23
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO & Director Brian Varnum was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 11
Third quarter 2022 earnings released: US$0.24 loss per share (vs US$0.22 loss in 3Q 2021) Third quarter 2022 results: US$0.24 loss per share (further deteriorated from US$0.22 loss in 3Q 2021). Net loss: US$8.61m (loss widened 59% from 3Q 2021). Revenue is forecast to grow 41% p.a. on average during the next 2 years, compared to a 21% growth forecast for the Biotechs industry in Germany. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Sep 21
Armata Pharmaceuticals, Inc., Annual General Meeting, Nov 16, 2022 Armata Pharmaceuticals, Inc., Annual General Meeting, Nov 16, 2022, at 08:30 Pacific Standard Time. Location: 4503 Glencoe Avenue Marina Del Ray California United States Reported Earnings • Aug 13
Second quarter 2022 earnings released: US$0.26 loss per share (vs US$0.25 loss in 2Q 2021) Second quarter 2022 results: US$0.26 loss per share (down from US$0.25 loss in 2Q 2021). Net loss: US$9.22m (loss widened 49% from 2Q 2021). Over the next year, revenue is forecast to grow 17%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Aug 02
Armata Pharmaceuticals Announces Clearance of IND for Prosthetic Joint Infections Armata Pharmaceuticals, Inc. announced that the U.S. Food and Drug Administration has cleared Armata's Investigational New Drug application for AP-SA02 in prosthetic joint infection. The company is initiating start-up activities for the Phase 1b/2a trial that will explore the safety, tolerability, and pharmacokinetics of intravenous and intra-articular doses of AP-SA02 as an adjunct to standard of care antibiotics in subjects with PJI. In addition to evaluating AP-SA02 in PJI and bacteremia due to S. aureus, Armata has advanced AP-PA02 into the Phase 2a component of the SWARM-P.a. study which targets chronic Pseudomonas aeruginosa infections in people with cystic fibrosis (CF). In February, the company gained IND clearance for AP-PA02 in a second indication, non-cystic fibrosis bronchiectasis targeting patients with chronic P. aeruginosa infections in a Phase 2 trial. Announcement • May 24
Armata Pharmaceuticals Announces First Patient Dosed in Phase 1b/2a 'diSArm' Study of AP-SA02 in Adults with Bacteremia Due to Staphylococcus Aureus Armata Pharmaceuticals, Inc. announced that the first patient has been dosed in the company's Phase 1b/2a clinical trial ('diSArm') of AP-SA02, which is being developed for the treatment of complicated Staphylococcus aureus bacteremia. In June 2020, Armata received a $15 million award from the DoD through the Medical Technology Enterprise Consortium (MTEC) managed by the Naval Medical Research Center with funding from the Defense Health Agency and Joint Warfighter Medical Research Program, to evaluate safety and tolerability of AP-SA02 as an adjunct to best available antibiotic therapy. Board Change • Apr 27
High number of new directors There are 6 new directors who have joined the board in the last 3 years. CEO & Director Brian Varnum was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 01
Armata Pharmaceuticals, Inc. announced that it has received $45 million in funding from Innoviva Strategic Opportunities LLC On March 31, 2022, Armata Pharmaceuticals, Inc. closed the transaction. The company issued 5,385,208 shares and 2,692,604 warrants for gross proceeds of $26,900,000 in its second tranche bringing the total amount raised to $45,000,000. Reported Earnings • Mar 19
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: US$0.96 loss per share (up from US$1.35 loss in FY 2020). Net loss: US$23.2m (loss widened 4.4% from FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is expected to shrink by 15% compared to a 71% growth forecast for the pharmaceuticals industry in Germany. Announcement • Feb 24
Armata Pharmaceuticals, Inc. Announces Clearance of Investigational New Drug Application to Initiate Phase 2 Clinical Trial of AP-PA02 in Non-Cystic Fibrosis Bronchiectasis Armata Pharmaceuticals Inc. announced that the U.S. Food and Drug Administration has cleared Armata's Investigational New Drug (IND) application to initiate a clinical trial of its optimized lead therapeutic candidate, AP-PA02, in a second indication, non-cystic fibrosis bronchiectasis (NCFB). The company plans to initiate a Phase 2 trial in 2022. In patients with NCFB, lung infection with Pseudomonas aeruginosa is often associated with frequent pulmonary exacerbations, reduced quality of life, and increased mortality, and may require hospital admission for treatment. Although chronic inhaled antibiotics are recommended for long-term management of NCFB with frequent exacerbations, there is currently no approved therapy. In addition to the upcoming trial of AP-PA02 in NCFB, Armata is also conducting a Phase 1b/2a trial (SWARM-P.a.) of AP-PA02 targeting Pseudomonas aeruginosa infections in cystic fibrosis patients, and a Phase 1b/2a trial (diSArm) of AP-SA02 targeting Staphylococcus aureus bacteremia. Announcement • Jan 06
Armata Pharmaceuticals Provides Update on Pseudomonas Respiratory Programs Armata Pharmaceuticals Inc. announced the modification of its lead bacteriophage product candidate, AP-PA02, to include additional phage genera that increase potency and broaden coverage of strains of Pseudomonas aeruginosa found in patients with cystic fibrosis (CF) and non-cystic fibrosis bronchiectasis (NCFB). The improvements in AP-PA02 reflect Armata's core strategy of utilizing clinical isolate surveillance data to drive enhancement of product composition. Prior to initiating the SWARM-P.a. trial, Armata's clinical isolate screening and phage collections yielded a three-phage cocktail with compelling host-range coverage. Since then, Armata's ongoing discovery efforts have resulted in a P. aeruginosa phage library that encompasses more than 600 unique phages and a P. aeruginosa isolate collection that represents contemporary and historical clinical isolates with geographic diversity from relevant respiratory sources (CF, NCFB, and pneumonia). This library of more than 2,000 clinical isolates (1,000 genomes sequenced) has powered Armata's ability to strengthen the profile of AP-PA02. The optimized phage cocktail introduces two new phage genera, which provides coverage of at least 90% of tested P. aeruginosa clinical isolates and has shown superior in vitro potency as well as improved efficacy in an animal model of infection. Utilizing Armata's in-house capabilities, the two new phages were rapidly advanced through manufacturing and regulatory review and are now entering the ongoing SWARM-P.a. study. Screening P. aeruginosa isolates from people diagnosed with NCFB revealed that the five-phage AP-PA02 cocktail offers broad coverage and robust potency in this indication as well. NCFB is a serious respiratory disease characterized by chronic inflammation of airways, decline of lung function, and frequent lung infections with P. aeruginosa. There are currently no approved inhaled antibiotics for the treatment of NCFB patients with chronic P. aeruginosa respiratory infections. Recognizing this high unmet medical need, Armata plans to advance quickly into a Phase 2 trial in NCFB in 2022. Conversely and representing the different physiology of acute pneumonia lung infections as compared to chronic CF and NCFB respiratory infections, a novel cocktail is in development for the clinical indication of pneumonia. Armata has deployed its extensive clinical isolate collection and phage library to identify a candidate 5-phage cocktail (AP-PA03) that is entering manufacturing with a regulatory filing expected in 2022. Reported Earnings • Nov 12
Third quarter 2021 earnings released: US$0.22 loss per share (vs US$0.31 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: US$1.25m (up 334% from 3Q 2020). Net loss: US$5.42m (loss narrowed 6.1% from 3Q 2020). Board Change • Jul 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 5 experienced directors. 1 highly experienced director. CEO & Director Todd Patrick is the most experienced director on the board, commencing their role in 2009. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Mar 18
Armata Pharmaceuticals Inc. announced that it has received $20 million in funding from Innoviva, Inc. On March 17, 2021, Armata Pharmaceuticals Inc. (AMEX:ARMP) closed the transaction. The company issued 4,285,935 common shares and 4,285,935 warrants with an exercise price of $3.25 per share, at a per unit price of $3.25 per unit, in exchange for gross proceeds of approximately $13,900,000 in its final tranche. As of March 17, 2021, and following the second closing, the company has 24,940,442 shares outstanding and warrants exercisable for 16,649,465 shares of common stock. Is New 90 Day High Low • Jan 30
New 90-day high: €4.44 The company is up 63% from its price of €2.72 on 30 October 2020. The German market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is up 13% over the same period. Is New 90 Day High Low • Dec 09
New 90-day low: €2.46 The company is down 8.0% from its price of €2.66 on 10 September 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Biotechs industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Nov 12
New 90-day high: €3.06 The company is up 10.0% from its price of €2.78 on 14 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is down 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Announcement • Oct 27
Armata Pharmaceuticals Inc. Appoints Mina Pastagia as Vice President of Clinical Development Armata Pharmaceuticals Inc. announced the appointment of Mina Pastagia as Vice President of Clinical Development. Prior to joining Armata, Dr. Pastagia served as Senior Medical Director, Infectious Diseases and Vaccines at Janssen Biopharma Inc. since 2017. While there, she led the design and execution of clinical trials for antiviral, antibacterial, and immunology assets. She served as clinical leader for RSV, hepatitis B, and pathogen-specific bacteriophage therapy for certain indications. Prior to Janssen, she served as Translational Medicine Leader in Infectious Diseases, Immunology and Inflammation at Hoffmann-La Roche. During that time, Dr. Pastagia served as antibiotic therapeutic head and leader of disease area strategy, as well as team lead for the development of baloxavir for influenza. Her prior experience also includes serving as Associate Director of Clinical Development at ContraFect Corporation. While at ContraFect, Dr. Pastagia was responsible for the development of biologic anti-infectives, including a bacteriophage lysin targeting S. aureus bacteremia. Dr. Pastagia has 15 years of clinical, academic, and research experience in medicine and in the subspecialty of infectious diseases. She previously served as an Adjunct Clinical Professor at Weill Cornell Medical College. She also served as an Instructor of Clinical Investigation at The Rockefeller University, where she obtained her master's degree in Translational Medicine, with her thesis entitled, "Use of a Novel Bacteriophage-Derived Lysin to Treat MRSA in Psoriasis." Her research interests include bacteriology and virology, with a focus on the pathogenesis and treatment of multidrug resistant organisms. She is well versed in the design and execution of Phase I–III clinical trials for both antibacterial and antiviral agents. Dr. Pastagia completed her internship and residency in internal medicine at Boston University and her fellowship in infectious diseases at Mount Sinai Medical Center. Announcement • Oct 16
Armata Pharmaceuticals Announces Clearance of Investigational New Drug (IND) Application to Initiate Phase 1b/2a Clinical Trial of Lead Candidate AP-PA02 in Pseudomonas aeruginosa Infections Armata Pharmaceuticals Inc. announced that the U.S. Food and Drug Administration (FDA) has cleared Armata's IND to initiate a clinical trial of its lead therapeutic candidate, AP-PA02, in Pseudomonas aeruginosa infections. The SWARM-P.a. study will be a Phase 1b/2a, multi-center, double-blind, randomized, placebo-controlled, single ascending dose (SAD) and multiple ascending dose (MAD) clinical trial to evaluate the safety and tolerability of inhaled AP-PA02 in subjects with cystic fibrosis and chronic pulmonary Pseudomonas aeruginosa infection. Barring worsening COVID-19 conditions, Armata expects to initiate the SAD cohort by the end of this year. Armata is a clinical-stage biotechnology company focused on the development of precisely targeted bacteriophage therapeutics for the treatment of antibiotic-resistant and difficult-to-treat bacterial infections using its proprietary bacteriophage-based technology. Armata is developing and advancing a broad pipeline of natural and synthetic phage candidates, including clinical candidates for Pseudomonas aeruginosa, Staphylococcus aureus, and other pathogens. In addition, in collaboration with Merck, known as MSD outside of the United States and Canada, Armata is developing proprietary synthetic phage candidates to target an undisclosed infectious disease agent. Armata is committed to advancing phage with drug development expertise that spans bench to clinic including in-house phage specific GMP manufacturing. Announcement • Jul 02
Armata Pharmaceuticals Inc.(AMEX:ARMP) dropped from Russell Microcap Value Index Armata Pharmaceuticals Inc.(AMEX:ARMP) dropped from Russell Microcap Value Index 
