Wed, Nov 13, 9:19 PM (127 days ago)
**Summary of Armata Pharmaceuticals, Inc. (ARMP) Q3 2024 Financial Results** For the quarter ending September 30, 2024, Armata Pharmaceuticals reported a net loss of $5.5 million, significantly down from a loss of $31.2 million in Q3 2023, reflecting improved operational efficiency. Grant revenue rose to $2.97 million from $1.23 million year-over-year, driven by the amended MTEC Agreement, increasing total awards to $21.6 million. Total operating expenses increased modestly to $12.73 million, primarily due to higher R&D costs of $9.49 million, up 18.9%, while general and administrative expenses decreased by 9.5%. The company’s cash and equivalents stood at $17.1 million, deemed insufficient for the next 12 months, raising substantial doubt about its ability to continue as a going concern. Armata plans to address this through additional financing, including a recent $35 million loan agreement. The ongoing clinical trials for its phage-based therapies, particularly AP-PA02 and AP-SA02, are progressing, with pivotal results expected in 2025. The financial health shows signs of improvement, but future operations remain contingent on securing further capital amidst a challenging economic landscape.