Armata Pharmctcl Stock Price, News & Analysis

Armata Pharmaceuticals, Inc. (NYSE American: ARMP) has successfully closed the second and final tranche of a $20 million private placement with Innoviva, Inc. (NASDAQ: INVA). This transaction raised approximately $13.9 million through the issuance of 4,285,935 common shares and warrants at $3.25 each, following a notable 99% shareholder approval. The first tranche, completed on January 26, 2021, raised $6.1 million. Following both closings, Armata now has 24,940,442 shares outstanding and warrants for 16,649,465 additional shares.

Armata Pharmaceuticals (NYSE American: ARMP) announces participation in the Oppenheimer 31st Annual Healthcare Conference from March 16-18, 2021. Management will present on March 17 at 3:10pm ET. The company focuses on bacteriophage therapeutics targeting antibiotic-resistant bacterial infections, with a diverse pipeline including candidates for Pseudomonas aeruginosa and Staphylococcus aureus. Armata collaborates with Merck to develop synthetic phage candidates for an undisclosed infectious disease.

Armata Pharmaceuticals (NYSE American: ARMP) announced a securities purchase agreement with Innoviva (Nasdaq: INVA), securing approximately $20 million in gross proceeds. The funds will support Armata's bacteriophage development programs, including the FDA-cleared SWARM-P.a. study for AP-PA02 targeting Pseudomonas aeruginosa infections. The agreement includes the purchase of 6.2 million shares at $3.25 each and warrants, scheduled in two tranches. Armata aims to achieve significant clinical milestones in 2021 and 2022, advancing its pipeline for combatting antibiotic-resistant infections.

Armata Pharmaceuticals announced the election of Robin C. Kramer to its Board of Directors on December 8, 2020. Currently serving as the VP and Chief Accounting Officer at Biogen, Kramer's extensive financial leadership experience is expected to bolster Armata's strategic direction. Directors H. Stewart Parker and Jeremy Curnock Cook did not seek re-election. CEO Todd R. Patrick expressed confidence in the enhanced board leadership during a critical phase of the company’s clinical development initiatives, focusing on solutions for antibiotic-resistant infections.

Armata Pharmaceuticals (NYSE American: ARMP) reported third-quarter results on November 12, 2020, announcing FDA clearance for its IND application to begin a clinical trial for AP-PA02 targeting Pseudomonas aeruginosa infections. The company plans to initiate the SWARM-P.a. Phase 1b/2a trial in cystic fibrosis patients by the end of 2020. Armata ended the quarter with approximately $16 million in cash and recognized grant revenues of $0.3 million. R&D expenses increased to $4.1 million, while general and administrative costs decreased to $1.8 million, resulting in a loss from operations of $5.6 million.

Armata Pharmaceuticals (ARMP) has made significant strides in developing bacteriophage therapeutics for drug-resistant infections. The FDA has cleared the IND application for their lead candidate, AP-PA02, enabling a Phase 1b/2a trial for Pseudomonas aeruginosa. A $5 million development award from the Cystic Fibrosis Foundation will help fund this study. Additionally, Armata received a $15 million grant from the Department of Defense for their second candidate, AP-SA02. The company ended Q3 with cash equivalents of approximately $15.9 million, positioning it well for ongoing clinical development.

Armata Pharmaceuticals (NYSE: ARMP) announced the appointment of Mina Pastagia, MD, MS, as Vice President of Clinical Development. This strategic move comes as Armata prepares to advance two therapeutic candidates: AP-PA02 for Pseudomonas aeruginosa infections and AP-SA02 for Staphylococcus aureus bacteremia. Dr. Pastagia's extensive expertise in anti-infective drug development will enhance Armata's pipeline capabilities. The company has also granted her equity awards as part of the employment agreement.

Armata Pharmaceuticals (NYSE American: ARMP) announced FDA clearance of its IND application to initiate a Phase 1b/2a clinical trial for its candidate AP-PA02 targeting Pseudomonas aeruginosa infections. This trial, named SWARM-P.a., will evaluate the safety of inhaled AP-PA02 in cystic fibrosis patients with chronic infections. The company aims to commence the study by the end of 2020, despite COVID-19 disruptions. Armata seeks to develop phage-based therapies as alternatives to traditional antibiotics, supported by a $15 million grant from the CF Foundation.

Armata Pharmaceuticals (NYSE American: ARMP) announced that President Brian Varnum will present at the 2020 World Antimicrobial Resistance Congress on October 8 at 12:10 pm EDT. The presentation, titled "Development of Phage Therapeutics Targeting Pseudomonas aeruginosa and Staphylococcus aureus", will be part of the Innovation Showcase session. This event, featuring over 700 attendees and 250 speakers, is the largest commercial gathering focused on antimicrobial resistance. Armata specializes in bacteriophage therapies for antibiotic-resistant infections.