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Armata Pharmaceuticals, Inc. (NYSE American: ARMP) is a clinical-stage biotechnology company dedicated to developing pathogen-specific bacteriophage therapeutics to address antibiotic-resistant and challenging bacterial infections. Utilizing proprietary bacteriophage-based technology, Armata is advancing a broad pipeline of both natural and synthetic phage candidates targeting critical pathogens such as Pseudomonas aeruginosa and Staphylococcus aureus.
Armata's innovative approach includes developing clinical candidates like AP-PA02 and AP-SA02. AP-PA02, a five-phage cocktail, is aimed at treating Pseudomonas aeruginosa infections, particularly in people with cystic fibrosis. The company is currently analyzing data from its SWARM-P.a. study to progress into a Phase 2b/3 registrational study in 2024. Meanwhile, AP-SA02, designed to combat Staphylococcus aureus bacteremia, has shown positive results in Phase 1b trials and is moving into Phase 2a with support from the U.S. Department of Defense.
In collaboration with Merck, Armata is developing proprietary synthetic phage candidates to address other significant infectious diseases. The company’s commitment to innovation extends to its in-house phage-specific GMP manufacturing capabilities, ensuring high-quality production from bench to clinic.
Financially, Armata reported grant revenue of $1.0 million for the second quarter of 2023, attributed to its AP-SA02 program. The company's research and development expenses were approximately $8.3 million, reflecting ongoing investments in clinical trials and personnel. As of June 30, 2023, Armata held $12.5 million in unrestricted cash and cash equivalents, with a subsequent $25 million credit agreement with Innoviva bolstering its financial position.
Recent updates include the initiation of the Phase 2a portion of the diSArm study for AP-SA02 and the positive topline data from the SWARM-P.a. clinical trial. Armata is poised for significant advancements, supported by its strategic partnerships and robust development pipeline.
Armata Pharmaceuticals has completed its Phase 1b/2a SWARM-P.a. clinical trial assessing inhaled AP-PA02 for cystic fibrosis patients with chronic pulmonary Pseudomonas aeruginosa infection. This milestone was noted by the company's executives, highlighting its implications for further phage therapy research. The study aims to evaluate safety, tolerability, and dosing paradigms necessary to meet microbiological endpoints, with topline data expected in Q1 2023. Armata previously received significant funding from the Cystic Fibrosis Foundation to support the development of this candidate.
Armata Pharmaceuticals (NYSE American: ARMP) will participate in the H.C. Wainwright 1st Annual Investor Conference on Bacteriophage, scheduled for November 30, 2022, from 10:00-10:30 AM EST. This conference will be held virtually, focusing on the company's advancements in bacteriophage therapeutics aimed at treating antibiotic-resistant infections. Armata is developing a diverse pipeline of phage candidates, particularly for Pseudomonas aeruginosa and Staphylococcus aureus, and collaborates with Merck on synthetic phage candidates.
Armata Pharmaceuticals (ARMP) reported its third quarter 2022 financial results, highlighting progress in clinical trials for its bacteriophage therapeutics. Key developments include the final enrollment phase of the SWARM-P.a. study and advancements in the AP-SA02 programs. The company recognized $1.3 million in grant revenue and expects $16.3 million in total funding from MTEC. R&D expenses rose to $8.4 million, while losses from operations increased to $(8.6) million. The company holds $25.4 million in cash as of September 30, 2022.
Armata Pharmaceuticals (ARMP) announced its Q2 2022 financial results, reporting significant advancements in bacteriophage therapeutics. The company recognized approximately $1.9 million in grant revenue and expects an additional $15 million from the Defense Health Agency. R&D expenses rose to $9 million, up from $5.2 million. Armata's operational loss increased to $9.2 million compared to $6.2 million a year prior. The company maintained a healthy cash position with $37 million in cash and equivalents. Key developments include the advancement of the AP-PA02 trial and IND approvals for the AP-SA02 program.
Armata Pharmaceuticals, Inc. (NYSE American: ARMP) has received FDA clearance for its Investigational New Drug (IND) application for AP-SA02, targeting prosthetic joint infections (PJI) caused by Staphylococcus aureus. This marks a significant advancement in Armata's phage therapy development, aimed at improving patient outcomes in antibiotic-resistant infections. The company is initiating a Phase 1b/2a trial to evaluate the safety and efficacy of AP-SA02 as an adjunct therapy. This addition expands Armata's active clinical programs focused on difficult-to-treat bacterial infections.
Armata Pharmaceuticals (NYSE American: ARMP) announced a significant milestone with the first patient dosed in its Phase 1b/2a clinical trial of AP-SA02, targeting complicated Staphylococcus aureus bacteremia. This study, developed in partnership with the US Department of Defense, aims to evaluate the safety and tolerability of AP-SA02 alongside standard antibiotics. In prior preclinical studies, AP-SA02 showed strong antimicrobial activity against 95% of evaluated S. aureus clinical isolates. The initiative is supported by a $15 million award from the DoD, emphasizing the need for innovative therapies in combating antibiotic-resistant infections.
Armata Pharmaceuticals (ARMP) announced its Q1 2022 financial results and corporate developments. The company reported approximately $1.2 million in grant revenue and plans to receive an expected $15 million in funding from MTEC. R&D expenses rose to $8 million, up from $4.4 million in Q1 2021, while general and administrative costs decreased slightly to $2 million. Loss from operations was $9 million, compared to $5.5 million in the previous year. Notably, Armata strengthened its balance sheet with a $45 million equity financing, increasing cash reserves to $46.4 million.
Innoviva reported a 5% increase in first-quarter royalties, totaling $93.5 million compared to Q1 2021. Notable earnings included $55.8 million from RELVAR®/BREO® ELLIPTA® and $29.3 million from TRELEGY® ELLIPTA®. However, income from operations saw a 2% decrease to $77.7 million due to the accounting consolidation of Entasis. Innoviva made a strategic investment of $45.0 million in Armata Pharmaceuticals and a $15.0 million offer to acquire Entasis, amidst a $9.4 million decline in asset fair values.
Armata Pharmaceuticals has successfully closed the second tranche of a $45 million private placement with Innoviva, raising approximately $26.9 million through the issuance of over 5.3 million common shares and 2.7 million warrants. This follows an initial tranche completed in February 2022 that raised $18.1 million. As of March 31, 2022, Armata has 36.1 million shares outstanding. Furthermore, their Form 10-K filed on March 17, 2022, includes a going concern note. Approximately 99% of shareholders voted in favor of the transaction, indicating strong support for the company's direction.
Armata Pharmaceuticals (ARMP) reported its fourth quarter and full year 2021 financial results, highlighting significant clinical advancements and a $45 million equity financing with Innoviva, Inc., its largest shareholder.
The company optimized its AP-PA02 cocktail to cover 90% of tested Pseudomonas aeruginosa isolates, began a Phase 2 trial for non-cystic fibrosis bronchiectasis, and advanced AP-PA03 manufacturing. Armata's cash position improved to $10.3 million, bolstered by grant revenue and ongoing partnerships.
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