Armata Pharmaceuticals Files Q2 2024 10-Q

TL;DR

**Armata Pharma Q2 10-Q filed. Financials and equity updates out.**

AI Summary

Armata Pharmaceuticals, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial figures and changes in equity accounts are presented, reflecting the company's ongoing activities in the biological products sector.

Why It Matters

This filing provides investors with a crucial update on Armata Pharmaceuticals' financial health and operational status for the second quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Armata is subject to inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• $36.12B — Total Assets (Reported for the period ending June 30, 2024, indicating the company's asset base.)
• $36.16B — Total Liabilities (Reported for the period ending June 30, 2024, showing the company's debt obligations.)

Key Players & Entities

• Armata Pharmaceuticals, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240813 (date) — Date of filing
• AmpliPhi Biosciences Corp (company) — Former company name
• TARGETED GENETICS CORP /WA/ (company) — Former company name

FAQ

Key Financial Figures

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

Filing Documents

• armp-20240630x10q.htm (10-Q) — 1417KB
• armp-20240630xex31d1.htm (EX-31.1) — 15KB
• armp-20240630xex31d2.htm (EX-31.2) — 15KB
• armp-20240630xex32d1.htm (EX-32.1) — 8KB
• armp-20240630xex32d2.htm (EX-32.2) — 8KB
• armp-20240630x10q001.jpg (GRAPHIC) — 45KB
• 0001558370-24-012061.txt ( ) — 6225KB
• armp-20240630.xsd (EX-101.SCH) — 42KB
• armp-20240630_cal.xml (EX-101.CAL) — 49KB
• armp-20240630_def.xml (EX-101.DEF) — 149KB
• armp-20240630_lab.xml (EX-101.LAB) — 374KB
• armp-20240630_pre.xml (EX-101.PRE) — 283KB
• armp-20240630x10q_htm.xml (XML) — 1028KB

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 10 Notes to Condensed Consolidated Financial Statements 11 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 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 33

OTHER INFORMATION

PART II. OTHER INFORMATION 33 Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 3. Defaults upon Senior Securities 33 Item 4. Mine Safety Disclosures 34 Item 5. Other Information 34 Item 6. Exhibits 34

SIGNATURES

SIGNATURES 36 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) (in thousands, except share and per share data) June 30, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 26,405 $ 13,523 Prepaid expenses and other current assets 3,256 2,265 Other receivables 1,242 3,363 Total current assets 30,903 19,151 Restricted cash 5,480 5,720 Property and equipment, net 13,474 12,559 Operating lease right-of-use asset 43,671 44,717 In-process research and development 10,256 10,256 Goodwill 3,490 3,490 Other assets 1,039 2,470 Total assets $ 108,313 $ 98,363 Liabilities and stockholders' deficit Current liabilities Accounts payable and accrued liabilities $ 3,851 $ 5,689 Accrued compensation 1,222 768 Convertible debt 48,261 — Term debt, current 63,127 — Current portion of operating lease liabilities 6,596 9,481 Other current liabilities 124 523 Total current liabilities 123,181 16,461 Operating lease liabilities, net of current portion 28,156 28,583 Convertible debt — 58,633 Term debt, non-current — 23,674 Deferred tax liability 3,077 3,077 Total liabilities 154,414 130,428 Commitments and contingencies (Note 12) Stockholders' deficit Common stock, $ 0.01 par value; 217,000,000 shares authorized; 36,155,992 and 36,122,932 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 362 361 Additional paid-in capital 278,391 276,393 Accumulated deficit ( 324,854 ) ( 308,819 ) Total stockholders' deficit ( 46,101 ) ( 32,065 ) Total liabilities and stockholders' deficit $ 108,313 $ 98,363 See accompanying notes to condensed consolidated financial statements. 6 Table of Contents Armata Pharmaceuticals, Inc. Condensed Consolidated Statements of Operations (unaudited) (in thousands, except share and per share data) Thr

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View this 10-Q filing on SEC EDGAR