Armata Pharmaceuticals Files Q3 2024 10-Q

TL;DR

Armata Pharma's Q3 10-Q is in. Financials look standard for a biotech. Check retained earnings & paid-in capital.

AI Summary

Armata Pharmaceuticals, Inc. filed its 10-Q for the period ending September 30, 2024. The company, formerly AmpliPhi Biosciences Corp, is involved in biological products. Financial details such as retained earnings and additional paid-in capital are reported for various periods throughout 2023 and 2024.

Why It Matters

This filing provides a snapshot of Armata Pharmaceuticals' financial health and equity structure as of Q3 2024, crucial for investors assessing the company's stability and growth potential.

Risk Assessment

Risk Level: medium — Biotech companies often carry inherent risks due to the nature of drug development and regulatory hurdles, which are not detailed in this summary but are typical for the sector.

Key Numbers

• 36,122,932 — Common Stock (As of September 30, 2024)
• 36,183,067 — Common Stock (As of July 1, 2023)

Key Players & Entities

• Armata Pharmaceuticals, Inc. (company) — Filer of the 10-Q
• AmpliPhi Biosciences Corp (company) — Former company name
• 20240930 (date) — Period of report
• 20241113 (date) — Filing date

FAQ

Key Financial Figures

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

Filing Documents

• armp-20240930x10q.htm (10-Q) — 1455KB
• armp-20240930xex31d1.htm (EX-31.1) — 15KB
• armp-20240930xex31d2.htm (EX-31.2) — 15KB
• armp-20240930xex32d1.htm (EX-32.1) — 8KB
• armp-20240930xex32d2.htm (EX-32.2) — 8KB
• armp-20240930x10q001.jpg (GRAPHIC) — 46KB
• 0001558370-24-015530.txt ( ) — 6325KB
• armp-20240930.xsd (EX-101.SCH) — 43KB
• armp-20240930_cal.xml (EX-101.CAL) — 48KB
• armp-20240930_def.xml (EX-101.DEF) — 160KB
• armp-20240930_lab.xml (EX-101.LAB) — 395KB
• armp-20240930_pre.xml (EX-101.PRE) — 297KB
• armp-20240930x10q_htm.xml (XML) — 1002KB

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 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 24 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 35 Item 4.

Controls and Procedures

Controls and Procedures 35

OTHER INFORMATION

PART II. OTHER INFORMATION 35 Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36 Item 3. Defaults upon Senior Securities 36 Item 4. Mine Safety Disclosures 36 Item 5. Other Information 36 Item 6. Exhibits 36

SIGNATURES

SIGNATURES 38 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) September 30, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 17,141 $ 13,523 Prepaid expenses and other current assets 3,029 2,265 Other receivables 2,219 3,363 Total current assets 22,389 19,151 Restricted cash 5,480 5,720 Property and equipment, net 13,616 12,559 Operating lease right-of-use asset 42,251 44,717 In-process research and development 10,256 10,256 Goodwill 3,490 3,490 Other assets 755 2,470 Total assets $ 98,237 $ 98,363 Liabilities and stockholders' deficit Current liabilities Accounts payable and accrued liabilities $ 3,714 $ 5,689 Accrued compensation 1,580 768 Convertible debt, current 41,357 — Term debt, current 66,046 — Current portion of operating lease liabilities 4,994 9,481 Other current liabilities 513 523 Total current liabilities 118,204 16,461 Operating lease liabilities, net of current portion 27,929 28,583 Convertible debt, non-current — 58,633 Term debt, non-current — 23,674 Deferred tax liability 3,077 3,077 Total liabilities 149,210 130,428 Commitments and contingencies (Note 12) Stockholders' deficit Common stock, $ 0.01 par value; 217,000,000 shares authorized; 36,183,067 and 36,122,932 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 362 361 Additional paid-in capital 279,000 276,393 Accumulated deficit ( 330,335 ) ( 308,819 ) Total stockholders' deficit ( 50,973 ) ( 32,065 ) Total liabilities and stockholders' deficit $ 98,237 $ 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 sha

View Full Filing

View this 10-Q filing on SEC EDGAR