Armata Pharmaceuticals Files 2023 Annual Report on Form 10-K

TL;DR

<b>Armata Pharmaceuticals (ARMP) has filed its 2023 10-K report, detailing financial and operational information.</b>

AI Summary

Armata Pharmaceuticals, Inc. (ARMP) filed a Annual Report (10-K) with the SEC on March 21, 2024. Armata Pharmaceuticals, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company's principal executive offices are located at 5005 McConnell Ave, Los Angeles, CA 90066. Armata Pharmaceuticals was formerly known as AmpliPhi Biosciences Corp and Targeted Genetics Corp /WA/. The filing includes details on various equity incentive plans and stock purchase plans. Information regarding office and laboratory equipment, as well as leasehold improvements, is also presented.

Why It Matters

For investors and stakeholders tracking Armata Pharmaceuticals, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Armata Pharmaceuticals' financial health, operational activities, and strategic direction for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. The detailed breakdown of assets, equity, and executive compensation within the filing offers insights into the company's resource allocation and management structure, aiding in the evaluation of its business model and governance.

Risk Assessment

Risk Level: low — Armata Pharmaceuticals, Inc. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant financial or operational disclosures that would alter the risk profile based solely on the header information.

Analyst Insight

Investors should review the full 10-K filing to understand Armata Pharmaceuticals' financial performance, strategic initiatives, and risk factors for fiscal year 2023.

Key Numbers

• 20231231 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 20240321 — Filing Date (FILED AS OF DATE)
• 001-37544 — SEC File Number (SEC FILE NUMBER)
• 24771663 — Film Number (FILM NUMBER)

Key Players & Entities

• Armata Pharmaceuticals, Inc. (company) — FILER
• 0000921114 (company) — CENTRAL INDEX KEY
• 2836 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• WA (company) — STATE OF INCORPORATION
• 5005 MCCONNELL AVE (company) — BUSINESS ADDRESS STREET 1
• LOS ANGELES (company) — BUSINESS ADDRESS CITY
• CA (company) — BUSINESS ADDRESS STATE
• 90066 (company) — BUSINESS ADDRESS ZIP

FAQ

Industry Context

Armata Pharmaceuticals operates within the Biotechnology and Pharmaceuticals industry, focusing on the development of novel anti-bacterial therapies.

Regulatory Implications

The filing is a standard SEC Form 10-K, adhering to regulations set forth by the Securities and Exchange Commission for public companies.

What Investors Should Do

1. Review the full 10-K document for detailed financial statements, including revenue, net income, and balance sheet information.
2. Analyze the Management's Discussion and Analysis of Financial Condition and Results of Operations section for insights into business performance and outlook.
3. Examine the Risk Factors section for potential challenges and uncertainties facing the company.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K filing.
• 2024-03-21: Filing Date — Date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial analysis of the 2023 10-K filing; comparison to prior filings will require access to those documents.

Key Financial Figures

• $0.01 — ch registered Common Stock , par value $0.01 per share ARMP NYSE American Secu
• $16.3 million — the expected use of proceeds from the $16.3 million DoD grant; the effects of government r
• $5.0 million — ata a Therapeutics Development Award of $5.0 million. Following these promising Phase 1b/2a
• $15.0 million — ursuant to which we expect to receive a $15.0 million grant and entered into a three-year pro
• $1.3 million — modified to increase the total award by $1.3 million to $16.3 million and extend the term in
• $35.0 million — ") for a loan in an aggregate amount of $35.0 million with Innoviva Strategic Opportunities L
• $25.0 million — ") for a loan in an aggregate amount of $25.0 million with Innoviva. This loan bears interest
• $30.0 m — loan facility in an aggregate amount of $30.0 million, which bears interest at a rate o
• $30.0 million — inancing from new investors of at least $30.0 million (a "Qualified Financing"), the outstand
• $1.52 — Convertible Credit Agreement, which was $1.52 (as may be appropriately adjusted for a

Filing Documents

• armp-20231231x10k.htm (10-K) — 1869KB
• armp-20231231xex4d9.htm (EX-4.9) — 15KB
• armp-20231231xex10d28.htm (EX-10.28) — 52KB
• armp-20231231xex21d1.htm (EX-21.1) — 7KB
• armp-20231231xex23d1.htm (EX-23.1) — 7KB
• armp-20231231xex31d1.htm (EX-31.1) — 11KB
• armp-20231231xex31d2.htm (EX-31.2) — 12KB
• armp-20231231xex32d1.htm (EX-32.1) — 8KB
• armp-20231231xex32d2.htm (EX-32.2) — 9KB
• armp-20231231xex97.htm (EX-97) — 39KB
• armp-20231231x10k003.jpg (GRAPHIC) — 55KB
• armp-20231231x10k004.jpg (GRAPHIC) — 61KB
• armp-20231231x10k005.jpg (GRAPHIC) — 76KB
• armp-20231231x10k006.jpg (GRAPHIC) — 2KB
• armp-20231231x10k007.jpg (GRAPHIC) — 2KB
• armp-20231231x10k008.jpg (GRAPHIC) — 2KB
• armp-20231231x10k009.jpg (GRAPHIC) — 2KB
• armp-20231231x10k010.jpg (GRAPHIC) — 34KB
• armp-20231231x10k011.jpg (GRAPHIC) — 57KB
• armp-20231231xex10d28001.jpg (GRAPHIC) — 14KB
• 0001558370-24-003706.txt (&nbsp;) — 8285KB
• armp-20231231.xsd (EX-101.SCH) — 53KB
• armp-20231231_cal.xml (EX-101.CAL) — 66KB
• armp-20231231_def.xml (EX-101.DEF) — 196KB
• armp-20231231_lab.xml (EX-101.LAB) — 491KB
• armp-20231231_pre.xml (EX-101.PRE) — 370KB
• armp-20231231x10k_htm.xml (XML) — 1019KB

Business

Business 6 Item 1A.

Risk Factors

Risk Factors 44 Item 1B. Unresolved Staff Comments 63 Item 1C. Cybersecurity 63 Item 2.

Properties

Properties 65 Item 3.

Legal Proceedings

Legal Proceedings 65 Item 4. Mine Safety Disclosures 65 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 65 Item 6. Reserved 66 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 66 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 76 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 76 Item 9. Changes In and Disagreements With Accountants on Accounting and Financial Disclosure 102 Item 9A.

Controls and Procedures

Controls and Procedures 102 Item 9B. Other Information 103 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 103 PART III Item 10. Directors, Executive Officers and Corporate Governance 104 Item 11.

Executive Compensation

Executive Compensation 104 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 104 Item 13. Certain Relationships and Related Transactions and Director Independence 104 Item 14. Principal Accountant Fees and Services 104 PART IV Item 15. Exhibits and Financial Statement Schedules 104 Item 16. Form 10-K Summary 109 Signatures and Power of Attorney 110 2 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (this "Annual Report") and certain information incorporated herein by reference contain forward-looking statements, which are provided under the "safe harbor" protection of the Private Securities Litigation Reform Act of 1995. These statements relate to future events, results or to our future financial performance and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or events to be materially different from any future results, performance or events expressed or implied by the forward-looking statements. Forward-looking statements in this Annual Report include, but are not limited to, statements regarding: our estimates regarding anticipated operating losses, capital requirements and needs for additional funds; our ability to raise additional capital when needed and to continue as a going concern; our ability to manufacture, or otherwise secure the manufacture of, sufficient amounts of our product candidates for our preclinical studies and clinical trials; our clinical development plans, including planned clinical trials; our research and development plans, including our clinical development plans; our ability to select combinations of phages to formulate our product candidates; our development of bacteriophage-based therapies; the potential use of bacteriophages to treat bacterial infections; the potential future of antibiotic resistance; our ability for bacteriophage therapies to disrupt and

BUSINESS

Item 1. BUSINESS Overview We are a clinical-stage biotechnology company focused on the development of pathogen-specific bacteriophage therapeutics for the treatment of antibiotic-resistant and difficult-to-treat bacterial infections using our proprietary bacteriophage-based technology. We see bacteriophages as an alternative to antibiotics and an essential response to growing bacterial resistance to current classes of antibiotics. Bacteriophages or "phages" have a powerful and highly differentiated mechanism of action that enables binding to and killing of targeted bacteria while preserving the human microbiome. This is in direct contrast to traditional broad-spectrum antibiotics which can alter the human microbiome increasing susceptibility to opportunistic pathogens, such as C. difficile . We believe that phages represent a promising means to effectively treat bacterial infections as an alternative to broad-spectrum antibiotics, especially for patients with bacterial infections resistant to current standard of care therapies, including the multidrug-resistant or "superbug" strains of bacteria. We are a leading developer of phage therapeutics and are uniquely positioned to address the growing worldwide threat of antibiotic-resistant bacterial infections. We are completing two critical Phase 2 trials to ensure a pathway towards pivotal Phase 3 trials. We are combining our proprietary approach and expertise in identifying, characterizing and developing both naturally-occurring and engineered (synthetic) bacteriophages with our proprietary phage-specific host-engineered current good manufacturing practice ("cGMP") manufacturing capabilities to advance a target pipeline of high-quality bacteriophage product candidates for advanced development. We are advancing two lead candidates to address both chronic and acute bacterial infections. Our first lead candidate focused primarily on chronic bacterial infections is the clinical phage candidate for Pseudomonas aerugin

View Full Filing

View this 10-K filing on SEC EDGAR