Armata Pharmaceuticals, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Armata Pharmaceuticals filed its Q1 2024 10-Q, detailing financial statements and loan agreements.</b>

AI Summary

Armata Pharmaceuticals, Inc. (ARMP) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Armata Pharmaceuticals, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing includes financial data for various periods, including Q1 2024, Q1 2023, and year-end 2023. Key financial statement items such as Retained Earnings, Additional Paid-In Capital, and Common Stock are detailed. Information regarding equity incentive plans, restricted stock, and stock options is presented. The report references a Secured Term Loan with Innoviva Strategic Opportunities LLC, with details on credit agreements from 2023 and 2024.

Why It Matters

For investors and stakeholders tracking Armata Pharmaceuticals, Inc., this filing contains several important signals. This filing provides a snapshot of Armata Pharmaceuticals' financial health and capital structure as of Q1 2024, including details on equity and debt. The specific mention of credit agreements with Innoviva Strategic Opportunities LLC highlights a key financing relationship impacting the company's operations.

Risk Assessment

Risk Level: medium — Armata Pharmaceuticals, Inc. shows moderate risk based on this filing. The company's financial disclosures are limited in this header data, making a full assessment of its financial stability difficult without the full report content.

Analyst Insight

Review the full 10-Q filing for detailed financial statements, including revenue, net income, and cash flow, to understand Armata Pharmaceuticals' operational performance and financial position.

Key Numbers

• 2024-03-31 — Reporting Period End Date (10-Q filing)
• 2024-05-07 — Filing Date (10-Q filing)
• 2024-01-01 — Q1 2024 Start Date (Financial reporting period)
• 2023-03-31 — Q1 2023 End Date (Comparative financial reporting period)

Key Players & Entities

• Armata Pharmaceuticals, Inc. (company) — Filer name
• Innoviva Strategic Opportunities LLC (company) — Lender for Secured Term Loan
• AmpliPhi Biosciences Corp (company) — Former company name
• TARGETED GENETICS CORP /WA/ (company) — Former company name

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-07: Filing Date — Date the 10-Q was officially submitted to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides an update on the company's financial performance and condition between annual reports.)

Retained Earnings

The cumulative earnings of a company that have not been distributed to shareholders as dividends. (Indicates the company's historical profitability and its ability to reinvest earnings back into the business.)

Additional Paid-In Capital

The amount of money a company receives from selling stock for more than its par value. (Reflects capital raised through equity issuance beyond the nominal stock value.)

Secured Term Loan

A type of loan that is backed by collateral, typically used for significant business investments. (Highlights a specific debt obligation and its secured nature, impacting the company's leverage and risk profile.)

Key Financial Figures

• $0.01 — ge on which registered Common Stock , $0.01 par value per share ARMP NYSE Ameri

Filing Documents

• armp-20240331x10q.htm (10-Q) — 1044KB
• armp-20240331xex31d1.htm (EX-31.1) — 15KB
• armp-20240331xex31d2.htm (EX-31.2) — 15KB
• armp-20240331xex32d1.htm (EX-32.1) — 8KB
• armp-20240331xex32d2.htm (EX-32.2) — 8KB
• armp-20240331x10q001.jpg (GRAPHIC) — 44KB
• 0001558370-24-007068.txt (&nbsp;) — 5102KB
• armp-20240331.xsd (EX-101.SCH) — 42KB
• armp-20240331_cal.xml (EX-101.CAL) — 47KB
• armp-20240331_def.xml (EX-101.DEF) — 141KB
• armp-20240331_lab.xml (EX-101.LAB) — 356KB
• armp-20240331_pre.xml (EX-101.PRE) — 268KB
• armp-20240331x10q_htm.xml (XML) — 730KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 6 Condensed Consolidated Balance Sheets 6 Condensed Consolidated Statements of Operations 7 Condensed Consolidated Statements of Stockholders' (Deficit) Equity 8 Condensed Consolidated Statements of Cash Flows 9 Notes to Condensed Consolidated Financial Statements 10 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 29 Item 4.

Controls and Procedures

Controls and Procedures 29

OTHER INFORMATION

PART II. OTHER INFORMATION 30 Item 1.

Legal Proceedings

Legal Proceedings 30 Item 1A.

Risk Factors

Risk Factors 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 3. Defaults upon Senior Securities 30 Item 4. Mine Safety Disclosures 30 Item 5. Other Information 30 Item 6. Exhibits 30

SIGNATURES

SIGNATURES 33 2 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (this "Quarterly 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 Quarterly 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 research and development plans, including our clinical development plans and planned clinical trials; 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 destroy biofilms and restore sensitivity to antibiotics; our planned development strategy, presenting data to regulatory agencies and defining planned clinical studies; the expected timing of additional clinical trials, including Phase 1b/Phase 2 or registrational clinical trials; our ability to manufacture and secure sufficient quantities of our product candidates for clinical trials; the drug product cand

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

Item 1. FINANCIAL STATEMENTS Armata Pharmaceuticals, Inc. Condensed Consolidated Balance Sheets (unaudited) March 31, 2024 December 31, 2023 Assets Current assets Cash $ 37,860 $ 13,523 Prepaid expenses and other current assets 2,143 2,265 Other receivables 1,714 3,363 Total current assets 41,717 19,151 Restricted cash 5,480 5,720 Property and equipment, net 12,700 12,559 Operating lease right-of-use asset 44,243 44,717 In-process research and development 10,256 10,256 Goodwill 3,490 3,490 Other assets 2,470 2,470 Total assets $ 120,356 $ 98,363 Liabilities and stockholders' deficit Current liabilities Accounts payable and accrued liabilities $ 4,610 $ 5,689 Accrued compensation 948 768 Convertible debt 71,658 — Term debt, current 25,010 — Current portion of operating lease liabilities 7,497 9,481 Other current liabilities 322 523 Total current liabilities 110,045 16,461 Operating lease liabilities, net of current portion 28,376 28,583 Convertible debt — 58,633 Term debt, non-current 35,368 23,674 Deferred tax liability 3,077 3,077 Total liabilities 176,866 130,428 Commitments and contingencies (Note 12) Stockholders' deficit Common stock, $ 0.01 par value; 217,000,000 shares authorized; 36,132,117 and 36,122,932 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 361 361 Additional paid-in capital 276,969 276,393 Accumulated deficit ( 333,840 ) ( 308,819 ) Total stockholders' deficit ( 56,510 ) ( 32,065 ) Total liabilities and stockholders' deficit $ 120,356 $ 98,363 See accompanying notes to condensed consolidated financial statements. 6 Table of Contents Armata Pharmaceuticals, Inc. Condensed Consolidated Statements of Operations (unaudited) Three Months Ended March 31, 2024 2023 Grant revenue $ 966 $ 796 Operating expenses Research and dev

View Full Filing

View this 10-Q filing on SEC EDGAR