Core Insights - Armata Pharmaceuticals, Inc. is focused on developing high-purity, pathogen-specific bacteriophage therapeutics to combat antibiotic-resistant bacterial infections [1][11] - The company announced its financial results for Q1 2025, highlighting a significant reduction in net loss compared to the same period in 2024 [8][10] Financial Performance - Grant and award revenue for Q1 2025 was $0.5 million, down from $1.0 million in Q1 2024, reflecting MTEC's share of costs for the AP-SA02 program [4] - Research and development expenses decreased to approximately $5.4 million in Q1 2025 from approximately $8.0 million in Q1 2024, indicating a focus on clinical-related expenses [5] - General and administrative expenses slightly increased to approximately $3.3 million in Q1 2025 from approximately $3.2 million in Q1 2024, primarily due to higher personnel and lease expenses [6] - Loss from operations was approximately $8.2 million in Q1 2025, an improvement from a loss of approximately $10.2 million in Q1 2024 [7] - The net loss for Q1 2025 was $6.5 million, or $0.18 loss per share (basic), compared to a net loss of $25.0 million, or $0.69 loss per share (basic), in Q1 2024 [8][10] Recent Developments - The company completed its third Phase 2 study, the Phase 1b/2a diSArm study of intravenous AP-SA02 for complicated S. aureus bacteremia, with topline data expected in Q2 2025 [3] - Armata received an additional $4.65 million in non-dilutive funding from the U.S. Department of Defense through MTEC to support the AP-SA02 program and prepare for an end-of-Phase 2 meeting with the FDA [9] - A $10.0 million secured credit agreement was entered into with Innoviva Strategic Opportunities LLC, extending the maturity date of existing agreements to March 12, 2026 [9] Cash Position - As of March 31, 2025, Armata held approximately $11.7 million in unrestricted cash and cash equivalents, an increase from $9.3 million as of December 31, 2024 [10]