Armata Pharmaceuticals(US:ARMP)2025-11-12 21:10Financial Performance - Grant and award revenue for Q3 2025 was $1.2 million, down from $3.0 million in Q3 2024, representing a decrease of approximately 60.0%[6] - Loss from operations for Q3 2025 was approximately $7.8 million, an improvement from a loss of approximately $9.8 million in Q3 2024, indicating a reduction of about 20.4%[8] - The company reported a net loss of $26.7 million for Q3 2025, compared to a net loss of $5.5 million in Q3 2024, reflecting a significant increase in losses[19] - Net loss for the nine months ended September 30, 2025, was $49,501, compared to a net loss of $21,516 for the same period in 2024[21] Expenses - Research and development expenses decreased to approximately $5.8 million in Q3 2025 from approximately $9.5 million in Q3 2024, reflecting a reduction of about 38.2%[7] - General and administrative expenses were approximately $3.1 million in Q3 2025, slightly down from approximately $3.2 million in Q3 2024[8] - Stock-based compensation expense decreased to $1,978 in 2025 from $2,539 in 2024, suggesting a reduction in equity awards[21] - Depreciation expense increased to $1,113 in 2025 from $945 in 2024, indicating higher asset utilization[21] - Non-cash interest expense rose to $11,739 in 2025 from $7,483 in 2024, reflecting changes in financing costs[21] Cash Flow and Liquidity - As of September 30, 2025, cash and cash equivalents increased to approximately $14.8 million from $9.3 million as of December 31, 2024, representing a growth of about 59.1%[9] - Net cash used in operating activities decreased to $19,089 in 2025 from $29,624 in 2024, indicating improved cash flow management[21] - Cash, cash equivalents, and restricted cash at the end of the period totaled $20,146, down from $22,621 in 2024[21] - Cash and cash equivalents at the beginning of the period were $14,771 in 2025, down from $19,243 in 2024, indicating a decline in available liquidity[21] - Changes in operating assets and liabilities improved, with a decrease in cash outflow to $(1,379) in 2025 from $(3,288) in 2024[21] - Restricted cash at the end of the period was $5,390 in 2025, slightly down from $5,480 in 2024[21] Development and Future Plans - AP-SA02 demonstrated a 100% response rate without relapse one week post-BAT and 28 days later, compared to approximately 25% relapse in the placebo group[4] - The company has entered into a secured credit agreement for a loan of $15.0 million, maturing on January 11, 2029, to support the development of AP-SA02[4] - The state-of-the-art cGMP manufacturing facility in Los Angeles is fully operational, supporting future clinical trials and commercialization efforts[4] - The company plans to initiate a Phase 3 study in 2026 for AP-SA02, aiming to address significant unmet medical needs[5] Financing Activities - Proceeds from issuance of term debt amounted to $25,000 in 2025, compared to $34,889 in 2024, reflecting a decrease in financing activities[21]