Armata Pharmaceuticals Announces $10 Million Secured Credit Agreement with Innoviva
Armata Pharmaceuticals (NYSE American: ARMP) has secured a $10 million credit agreement with Innoviva Strategic Opportunities , its largest shareholder. The loan facility comes with a 14.0% annual interest rate and matures on March 12, 2026.
The proceeds will support the development of Armata's lead therapeutic phage candidates: AP-PA02 targeting Pseudomonas aeruginosa infections and AP-SA02 for Staphylococcus aureus infections. The funding will specifically enable the company to complete its Phase 1b/2a trial in acute Staphylococcus aureus bacteremia and prepare for an end-of-Phase 2 FDA meeting.
Additionally, Armata amended three existing credit agreements with Innoviva, extending their maturity dates to March 12, 2026. The company continues to seek additional funding sources, including non-dilutive options, to support late-stage clinical trials.
Armata Pharmaceuticals (NYSE American: ARMP) ha ottenuto un accordo di credito di 10 milioni di dollari con Innoviva Strategic Opportunities, il suo maggiore azionista. Il prestito ha un tasso di interesse annuale del 14,0% e scade il 12 marzo 2026.
Il ricavato sosterrà lo sviluppo dei principali candidati terapeutici a base di fagi di Armata: AP-PA02, che mira alle infezioni da Pseudomonas aeruginosa, e AP-SA02 per le infezioni da Staphylococcus aureus. Il finanziamento permetterà specificamente all'azienda di completare il suo trial di Fase 1b/2a nella batteriemia acuta da Staphylococcus aureus e di prepararsi per un incontro con la FDA al termine della Fase 2.
Inoltre, Armata ha modificato tre accordi di credito esistenti con Innoviva, estendendo le loro scadenze al 12 marzo 2026. L'azienda continua a cercare ulteriori fonti di finanziamento, comprese opzioni non diluitive, per sostenere gli studi clinici in fase avanzata.
Armata Pharmaceuticals (NYSE American: ARMP) ha conseguido un acuerdo de crédito de 10 millones de dólares con Innoviva Strategic Opportunities, su mayor accionista. La facilidad de préstamo tiene una tasa de interés anual del 14,0% y vence el 12 de marzo de 2026.
Los fondos apoyarán el desarrollo de los principales candidatos terapéuticos de fago de Armata: AP-PA02, que se dirige a las infecciones por Pseudomonas aeruginosa, y AP-SA02 para infecciones por Staphylococcus aureus. La financiación permitirá específicamente a la empresa completar su ensayo de Fase 1b/2a en la bacteriemia aguda por Staphylococcus aureus y prepararse para una reunión con la FDA al final de la Fase 2.
Además, Armata modificó tres acuerdos de crédito existentes con Innoviva, extendiendo sus fechas de vencimiento hasta el 12 de marzo de 2026. La empresa sigue buscando fuentes adicionales de financiamiento, incluidas opciones no dilutivas, para apoyar ensayos clínicos en etapas avanzadas.
Armata Pharmaceuticals (NYSE American: ARMP)는 최대 주주인 Innoviva Strategic Opportunities와 1천만 달러의 신용 계약을 체결했습니다. 이 대출 시설은 연 14.0%의 이자율을 가지고 있으며, 2026년 3월 12일 만료됩니다.
이 자금은 Armata의 주요 치료 파지 후보인 AP-PA02 (Pseudomonas aeruginosa 감염 대상)와 AP-SA02 (Staphylococcus aureus 감염 대상)의 개발을 지원합니다. 이 자금은 특히 회사가 Staphylococcus aureus의 급성 세균혈증에 대한 1b/2a 임상 시험을 완료하고, 2단계 종료 FDA 회의를 준비할 수 있도록 할 것입니다.
추가로, Armata는 Innoviva와의 기존 세 가지 신용 계약을 수정하여 만료일을 2026년 3월 12일로 연장했습니다. 회사는 임상 시험의 후반 단계 지원을 위해 비희석 옵션을 포함한 추가 자금 출처를 계속해서 찾고 있습니다.
Armata Pharmaceuticals (NYSE American: ARMP) a sécurisé un accord de crédit de 10 millions de dollars avec Innoviva Strategic Opportunities, son plus grand actionnaire. La facilité de prêt a un taux d'intérêt annuel de 14,0 % et arrive à échéance le 12 mars 2026.
Les fonds soutiendront le développement des principaux candidats thérapeutiques à base de phages d'Armata : AP-PA02, ciblant les infections à Pseudomonas aeruginosa, et AP-SA02 pour les infections à Staphylococcus aureus. Ce financement permettra spécifiquement à l'entreprise de terminer son essai de Phase 1b/2a dans le cadre de la bactériémie aiguë à Staphylococcus aureus et de se préparer à une réunion de fin de Phase 2 avec la FDA.
De plus, Armata a modifié trois accords de crédit existants avec Innoviva, prolongeant leurs dates d'échéance au 12 mars 2026. L'entreprise continue de rechercher des sources de financement supplémentaires, y compris des options non dilutives, pour soutenir les essais cliniques en phase avancée.
Armata Pharmaceuticals (NYSE American: ARMP) hat eine Kreditvereinbarung über 10 Millionen Dollar mit Innoviva Strategic Opportunities, seinem größten Aktionär, gesichert. Die Darlehensfazilität hat einen jährlichen Zinssatz von 14,0 % und läuft am 12. März 2026 aus.
Die Mittel werden die Entwicklung von Armatas führenden therapeutischen Phagenkandidaten unterstützen: AP-PA02, das auf Pseudomonas aeruginosa-Infektionen abzielt, und AP-SA02 für Staphylococcus aureus-Infektionen. Die Finanzierung wird es dem Unternehmen insbesondere ermöglichen, seine Phase 1b/2a-Studie bei akuter Staphylococcus aureus-Bakteriämie abzuschließen und sich auf ein Treffen mit der FDA am Ende der Phase 2 vorzubereiten.
Zusätzlich hat Armata drei bestehende Kreditvereinbarungen mit Innoviva geändert und deren Fälligkeiten auf den 12. März 2026 verlängert. Das Unternehmen sucht weiterhin nach zusätzlichen Finanzierungsquellen, einschließlich nicht verwässernder Optionen, um späte klinische Studien zu unterstützen.
- Secured $10M in additional funding to advance clinical trials
- Continued support from largest shareholder Innoviva
- Progress in Phase 1b/2a trial for AP-SA02 approaching readout
- Advancing toward end-of-Phase 2 FDA meeting
- High interest rate of 14% on the new credit facility
- Increasing debt burden with multiple credit agreements
- Dependent on additional funding sources for late-stage trials
- Reliance on single investor (Innoviva) for financing
Insights
Armata has secured a
The transaction structure is notable - Innoviva, already Armata's largest shareholder, is deepening its financial commitment rather than bringing in new investors. This suggests confidence from an informed insider but may indicate challenges attracting fresh capital. The simultaneous extension of maturity dates on existing loans to March 2026 provides breathing room by aligning all debt obligations.
For context, this financing represents approximately
This financing provides important support for Armata's phage therapy platform at a pivotal clinical development stage. The company's focus on AP-PA02 and AP-SA02 addresses substantial unmet needs in antibiotic-resistant infections - particularly Pseudomonas aeruginosa and Staphylococcus aureus, two pathogens classified as serious public health threats by the CDC.
The upcoming readout of the Phase 1b/2a trial in acute S. aureus bacteremia represents a significant milestone as the first clinical data for AP-SA02. Bacteremia (bloodstream infections) caused by S. aureus has mortality rates between
The mention of an end-of-Phase 2 meeting with the FDA suggests the company anticipates positive clinical data that could support advancement to pivotal trials. The FDA has shown increasing receptiveness to novel antimicrobial approaches given the antibiotic resistance crisis, potentially offering accelerated pathways for promising therapies targeting resistant infections.
Bacteriophage therapeutics represent a compelling alternative to conventional antibiotics, offering highly targeted bacterial killing while preserving beneficial microbiome populations. This distinction becomes particularly valuable for difficult-to-treat infections where broad-spectrum antibiotics have failed or are contraindicated.
Proceeds to be used to continue to advance development of Armata's phage product candidates
Proceeds from the new financing transaction will be used to advance the Company's lead therapeutic phage candidates, including AP‐PA02 and AP‐SA02, which target infections caused by Pseudomonas aeruginosa and Staphylococcus aureus, respectively.
"Innoviva continues to be an instrumental partner to Armata in support of our mission, the clinical development of our two lead phage cocktails, AP-PA02 and AP-SA02, and our committed team," stated Dr. Deborah Birx, Chief Executive Officer of Armata. "This financing will enable Armata to readout its Phase 1b/2a trial in acute Staphylococcus aureus bacteremia, which represents the first clinical trial for AP-SA02, and to prepare the Company for an end-of-Phase 2 meeting with the FDA in support of further clinical inquiry including a potential pivotal trial. I would like to thank the Innoviva team for their continued support. We are continuing to pursue additional sources of funding, including non-dilutive sources, to support our late-stage clinical trials."
The secured credit agreement provides for a secured term loan facility in an aggregate amount of
The Company and Innoviva also entered into amendments to the three credit and security agreements previously entered into, in order to, among other things, extend the maturity dates under such agreements to March 12, 2026.
About Armata Pharmaceuticals, Inc.
Armata is a clinical-stage biotechnology company focused on the development of high-purity pathogen-specific 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. Armata is committed to advancing phage therapy with drug development expertise that spans bench to clinic including in-house phage-specific cGMP manufacturing to support full commercialization.
Forward Looking Statements
This communication contains "forward-looking" statements as defined by the Private Securities Litigation Reform Act of 1995. These statements relate to future events, results or to Armata's future financial performance and involve known and unknown risks, uncertainties and other factors which may cause Armata's actual results, performance or events to be materially different from any future results, performance or events expressed or implied by the forward-looking statements. In some cases, you can identify these statements by terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "would" or the negative of those terms, and similar expressions. These forward-looking statements reflect management's beliefs and views with respect to future events and are based on estimates and assumptions as of the date of this communication and are subject to risks and uncertainties including risks related to Armata's development of bacteriophage-based therapies; ability to staff and maintain its production facilities under fully compliant current Good Manufacturing Practices; ability to meet anticipated milestones in the development and testing of the relevant product; ability to be a leader in the development of phage-based therapeutics; ability to achieve its vision, including improvements through engineering and success of clinical trials; ability to successfully complete preclinical and clinical development of, and obtain regulatory approval of its product candidates and commercialize any approved products on its expected timeframes or at all; and Armata's estimates regarding anticipated operating losses, capital requirements and needs for additional funds. Additional risks and uncertainties relating to Armata and its business can be found under the caption "Risk Factors" and elsewhere in Armata's filings and reports with the SEC, including in Armata's Annual Report on Form 10-K, filed with the SEC on March 21, 2024, and in its subsequent filings with the SEC.
Armata expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Armata's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
Media Contacts:
At Armata:
Pierre Kyme
Armata Pharmaceuticals, Inc.
ir@armatapharma.com
310-665-2928 x234
Investor Relations:
Joyce Allaire
LifeSci Advisors, LLC
jallaire@lifesciadvisors.com
212-915-2569
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SOURCE Armata Pharmaceuticals, Inc.
FAQ
What is the interest rate and maturity date of ARMP's new $10M credit agreement?
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What changes were made to ARMP's existing credit agreements with Innoviva?
