Armata Pharmaceuticals, Inc. (ARMP) SEC Filings, Jul-Nov 2025

Armata Pharmaceuticals furnished an update on its bacteriophage program. The company announced positive results from its recently completed Phase 2a diSArm study of AP-SA02 as a potential treatment for complicated Staphylococcus aureus bacteremia, presented at IDWeek 2025.

The company furnished a press release as Exhibit 99.1 and posted the late‑breaking oral presentation delivered by Dr. Loren G. Miller on October 22, 2025, furnished as Exhibit 99.2. The materials were provided under Item 7.01 and are not deemed filed under the Exchange Act nor incorporated by reference into Securities Act filings.

Armata Pharmaceuticals filed a Form S-8 to register an additional 1,811,295 shares of common stock for issuance under its 2016 Equity Incentive Plan and 2016 Employee Stock Purchase Plan. The shares break down into 1,809,153 shares added under the Equity Incentive Plan and 2,142 shares under the ESPP pursuant to annual "evergreen" provisions that operate from January 1, 2017 through January 1, 2026. The filing incorporates prior S-8 registration statements and recent SEC filings, including the Annual Report for the year ended December 31, 2024 and quarterly reports for March 31, 2025 and June 30, 2025. The Registration Statement was signed on August 13, 2025 by Chief Executive Officer Deborah L. Birx.

Armata Pharmaceuticals (ARMP) registered a shelf to sell up to $100,000,000 of securities. Armata is a clinical-stage developer of high-purity, pathogen-specific bacteriophage therapeutics and has completed three Phase 2 trials. AP-PA02 (Pseudomonas) showed favorable safety and sputum P. aeruginosa reductions: the Phase 2 Tailwind post-hoc intent-to-treat analysis (n=33 active, n=15 placebo) showed a CFU reduction at day 17 (P=0.05) and a sustained reduction at day 24 (P=0.015); paired baseline-to-day analyses were significant at multiple timepoints. AP-SA02 (S. aureus) diSArm Phase 1b/2a (n=50) reported investigator-assessed responder rates of 88% vs 58% placebo at TOC (p=0.047) and 100% clinical response at later endpoints (p<=0.017); CEAC analyses supported these findings. Armata has received a $5.0 million CFF award and cumulative DoD/MTEC funding totaling $26.2 million (term extended to March 31, 2026). The prospectus discloses substantial doubt about the company’s ability to continue as a going concern and a need for substantial additional financing; public float was approximately $26.1 million based on 11,077,705 non-affiliate shares at $2.36 per share.

Innoviva and its wholly owned affiliate report that, following transactions described in this Amendment No. 13 to Schedule 13D, the Reporting Persons collectively hold beneficial ownership of 55,467,459 shares of Armata Pharmaceuticals, Inc., representing approximately 83.3% of the issuer's common stock on a fully counted basis. The filing discloses that Innoviva Strategic Opportunities LLC acquired secured debt of the company under an August 11, 2025 credit agreement that provided Armata with a $15,000,000 term loan.

The August 2025 Credit Agreement carries a 14.00% per annum interest rate and matures on January 11, 2029, and is expressly non-convertible. The Reporting Persons continue to hold existing common shares, warrants to acquire 10,653,847 additional shares, and rights to acquire 19,736,843 shares upon conversion of a convertible loan (excluding accrued interest). Except as amended here, prior Schedule 13D disclosures remain in effect.

Armata Pharmaceuticals, Inc. reported a widening operating and net loss in the first half of 2025 as it advances bacteriophage therapeutics. Total assets were $80.8 million versus $86.4 million at year-end 2024, with cash and cash equivalents of $4.3 million and restricted cash of $5.4 million, for combined cash of $9.7 million. The company recorded a six-month net loss of $22.8 million and used $14.8 million of cash in operating activities during the same period.

The balance sheet shows total liabilities of $150.3 million and a stockholders' deficit of $69.5 million, driven by increased current liabilities including a fair-value accounted Convertible Loan of $33.4 million and current term debt of $78.9 million. Management discloses substantial doubt about going concern, stating current cash is insufficient for the next 12 months. Material subsequent financing includes an August 11, 2025 $15.0 million loan from Innoviva at 14% interest; the company also continues to receive MTEC award funding now totaling $26.2 million (term extended to March 31, 2026) to support AP-SA02 development.

Armata Pharmaceuticals announced it has entered a secured $15.0 million term loan with Innoviva Strategic Opportunities LLC, a subsidiary of Innoviva, Inc., identified in the filing as a principal shareholder. The Loan bears interest at 14.0% per annum and matures on January 11, 2029. Repayment is guaranteed by Armata's domestic subsidiaries and the Loan is secured by substantially all assets of the company and the subsidiary guarantors.

The credit agreement includes customary affirmative and negative covenants and representations, including financial reporting obligations and limits on indebtedness, liens, investments and distributions. It also contains customary events of default, including payment defaults, breaches, certain bankruptcy events, a defined "material adverse effect" and a material deviation from the companys operating budget. The company also furnished a press release disclosing its results for the three and six months ended June 30, 2025 as Exhibit 99.1.