Armata Pharmaceuticals(US:ARMP) Prnewswireยท2024-11-13 21:05Core Insights - Armata Pharmaceuticals reported financial results for Q3 2024, highlighting advancements in its bacteriophage therapeutic programs and financial performance improvements [1][2][3]. Clinical Developments - Enrollment for the Phase 2 "Tailwind" study of inhaled AP-PA02 in patients with non-cystic fibrosis bronchiectasis and chronic pulmonary Pseudomonas aeruginosa infection has been completed, with topline data expected by year-end [2][3]. - The company is preparing to initiate a pivotal bronchiectasis trial in 2025 for chronic pulmonary P. aeruginosa infection [2][3]. - Enrollment for the Phase 1b/2a "diSArm" study of intravenous AP-SA02 in patients with Staphylococcus aureus bacteremia has also been completed, with topline data anticipated in Q1 2025 [2][3]. - The company plans to meet with the U.S. FDA to align on the design of a pivotal Phase 3 bronchiectasis study for inhaled AP-PA02 [3]. Financial Performance - Grant revenue for Q3 2024 was $3.0 million, up from $1.2 million in Q3 2023, reflecting support for the AP-SA02 program [4]. - Research and development expenses increased to approximately $9.5 million in Q3 2024 from approximately $8.0 million in Q3 2023, indicating continued investment in clinical programs [5]. - General and administrative expenses decreased to approximately $3.2 million in Q3 2024 from approximately $3.6 million in Q3 2023, primarily due to reduced professional services costs [6]. - The loss from operations for Q3 2024 was approximately $9.8 million, an improvement from a loss of approximately $10.3 million in Q3 2023 [7]. - The net loss for Q3 2024 was $5.5 million, or $0.15 per share, compared to a net loss of $31.2 million, or $0.86 per share, in Q3 2023 [8]. Cash Position - As of September 30, 2024, the company held approximately $17.1 million in unrestricted cash and cash equivalents, an increase from $13.5 million as of December 31, 2023 [9].