Armata Pharmaceuticals Announces Fourth Quarter and Full-Year 2024 Results and Provides Corporate Update

Core Insights - Armata Pharmaceuticals reported significant clinical milestones and financial results for Q4 and full-year 2024, focusing on its bacteriophage therapeutics for antibiotic-resistant infections [1] Clinical Developments - The company achieved encouraging topline results from its Phase 2 Tailwind study for inhaled AP-PA02 in non-cystic fibrosis bronchiectasis (NCFB) patients, demonstrating a statistically significant reduction in Pseudomonas aeruginosa (P.a.) colony forming units (CFUs) [3][4] - AP-PA02 was well-tolerated, with mild and self-limiting treatment-emergent adverse events, and showed effectiveness comparable to antibiotic combination therapy [4] - Enrollment was completed for the Phase 1b/2a diSArm study evaluating AP-SA02 for Staphylococcus aureus bacteremia, with topline results expected in the first half of 2025 [3][4] Financial Performance - Grant revenue for Q4 2024 was $1.2 million, down from$1.5 million in Q4 2023, reflecting MTEC's share of costs for the AP-SA02 program [6] - Research and development expenses increased to approximately $8.5 million in Q4 2024 from$7.9 million in Q4 2023, indicating continued investment in clinical programs [7] - General and administrative expenses rose slightly to approximately $3.3 million in Q4 2024 from$3.2 million in Q4 2023, primarily due to increased personnel costs [8] Operational Loss and Net Income - The company reported a loss from operations of approximately $10.5 million in Q4 2024, compared to a loss of approximately$9.6 million in Q4 2023 [9] - Net income for Q4 2024 was $2.6 million, or$0.07 per share, contrasting with a net loss of $19.8 million, or$(0.55) per share, in Q4 2023, largely due to non-cash gains from changes in fair value of convertible loans [10] Cash Position - As of December 31, 2024, Armata held approximately $14.8 million in cash and cash equivalents, down from$19.2 million a year earlier [11] - The company entered into a $10 million secured credit agreement with Innoviva, with an annual interest rate of 14% [12] Strategic Focus - Armata remains committed to developing phage therapy as an alternative to broad-spectrum antibiotics, aiming to address the global health crisis of antimicrobial resistance [5]