Armata Pharmctcl SEC Filings

Armata Pharmaceuticals reported results from its annual shareholder meeting. Shareholders elected seven directors, each receiving about 28.3–28.5 million votes in favor, with relatively small withhold and broker non-vote totals.

Investors also approved, on a non-binding advisory basis, the compensation of the named executive officers with 28,547,283 shares voting for and modest opposition. Shareholders supported holding future advisory votes on executive pay every year, with 28,567,809 votes backing a one-year frequency. In addition, they ratified Ernst & Young LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026, by 29,842,514 votes in favor.

Armata Pharmaceuticals’ major stockholder Innoviva reports beneficial ownership of 55,467,459 shares of common stock, or about 82.7% of the company. This total includes existing shares, warrants and shares issuable from a convertible loan.

As of this amendment, the Innoviva group directly owns 25,076,769 Armata shares, holds warrants for 10,653,847 additional shares, and can acquire 19,736,843 shares upon conversion of a prior convertible loan. The ownership percentage is calculated against 36,695,155 shares outstanding as of April 17, 2026.

The filing also discloses a new secured term loan: on May 12, 2026, Armata borrowed $25,000,000 from Innoviva Strategic Opportunities LLC under a credit agreement bearing 14.00% annual interest and maturing on January 11, 2029. This new debt is secured and is not convertible into Armata securities.

Armata Pharmaceuticals’ Q1 2026 report shows a net loss of $115.3M, largely driven by a $101.1M non‑cash loss from revaluing its related‑party Convertible Loan. Grant and award revenue was $0.8M, while research and development expenses reached $6.1M and general and administrative expenses were $3.5M.

Cash and cash equivalents were only $4.8M as of March 31, 2026, and management states this will not fund operations for 12 months, raising “substantial doubt” about the company’s ability to continue as a going concern. Total liabilities were $381.4M, including a fair‑value Convertible Loan of $254.9M and term debt of $88.0M.

The company relies heavily on financing from principal stockholder Innoviva via multiple high‑interest credit agreements and a $100M at‑the‑market equity program. It is preparing a Phase 3 superiority trial of IV phage candidate AP‑SA02 in complicated S. aureus bacteremia, supported by a Qualified Infectious Disease Product designation and up to $26.2M in non‑dilutive Department of Defense funding.

Armata Pharmaceuticals entered a new secured term loan agreement with Innoviva Strategic Opportunities for $25 million at a 14.0% annual interest rate, maturing on January 11, 2029, guaranteed by its domestic subsidiaries and secured by substantially all assets. The company also reported first quarter 2026 results: grant and award revenue was $0.8 million and research and development expenses were $6.1 million, reflecting continued investment in its AP‑SA02 bacteriophage program. Net loss widened sharply to $115.3 million, largely driven by a $101.1 million unfavorable change in the fair value of a Convertible Loan, while cash and cash equivalents declined to $4.8 million as of March 31, 2026. Armata highlighted FDA Qualified Infectious Disease Product and Fast Track Designation for AP‑SA02 and its goal to advance this candidate into a Phase 3 study in complicated S. aureus bacteremia.

Armata Pharmaceuticals announced that the U.S. Food and Drug Administration has granted Fast Track Designation to AP-SA02, its intravenous multi-phage therapy for complicated Staphylococcus aureus bacteremia, including MSSA and MRSA. This status is intended for serious conditions with unmet medical need.

Fast Track allows more frequent FDA interactions, rolling review of a future Biologics License Application, and potential eligibility for Accelerated Approval and Priority Review if supported by clinical data. Armata plans to advance AP-SA02 into a Phase 3 superiority study in complicated bacteremia, anticipated to begin in the second half of 2026, following positive Phase 1b/2a diSArm study results partially backed by a $26.2 million Department of Defense award.

Armata Pharmaceuticals director Daniel B. Gilmer received a grant of stock options for 51,280 shares of common stock. The options have an exercise price of $12.92 per share and expire on April 24, 2036.

According to the terms, one-third of the underlying shares vest on each of the first, second, and third anniversaries of the April 24, 2026 grant date, as long as Gilmer continues to provide service through each vesting date. After this grant, he holds 51,280 stock options directly.

Armata Pharmaceuticals, Inc. filed an initial insider ownership report for Daniel B. Gilmer, who is identified as a director of the company. The Form 3 report shows no reported transactions, acquisitions, dispositions, or derivative positions at the time of this filing.

Armata Pharmaceuticals, Inc. is asking shareholders to vote at its June 11, 2026 annual meeting on four items: electing seven directors, approving executive pay on an advisory basis, choosing how often to hold future say‑on‑pay votes, and ratifying Ernst & Young as auditor for 2026.

Innoviva, Inc. beneficially owns 60,699,915 shares, or 83.9% of common stock outstanding as of April 17, 2026, giving it effective control. The proxy highlights Board independence, committee structures, and a separate independent Chair. It also notes Ernst & Young’s audit opinion for 2025 included substantial doubt about Armata’s ability to continue as a going concern due to recurring losses and negative operating cash flows.

For 2025, CEO Deborah Birx received total compensation of $1,249,889, Chief Business Officer Pierre Kyme received $791,575, and Principal Financial Officer David House received $554,770, combining salary, bonuses, equity awards and incentives. The Board recommends voting for all four proposals and an annual say‑on‑pay frequency.