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ARMP Armata Pharmaceuticals

Armata Pharmaceuticals, Inc. operates as a clinical-stage biotechnology company focused on the development of bacteriophage therapeutics for antibiotic-resistant infections using its proprietary bacteriophage-based technology. Its product candidate is the AP-SA01 that targets Staphylococcus aureus, including multidrug-resistant strains. The company was founded on May 9, 2019 and is headquartered in Los Angeles, CA.

Company profile

Ticker
ARMP
Exchange
CEO
Todd Patrick
Employees
Incorporated
Location
Fiscal year end
Former names
AmpliPhi Biosciences Corp, TARGETED GENETICS CORP /WA/
SEC CIK
IRS number
911549568

ARMP stock data

(
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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

18 Mar 21
13 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 10.85M 10.85M 10.85M 10.85M 10.85M 10.85M
Cash burn (monthly) 2.08M (positive/no burn) 2.15M 1.8M 2.1M 1.52M
Cash used (since last report) 7.16M n/a 7.41M 6.2M 7.23M 5.24M
Cash remaining 3.69M n/a 3.44M 4.65M 3.61M 5.61M
Runway (months of cash) 1.8 n/a 1.6 2.6 1.7 3.7

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Apr 21 Haimovitz Jules Stock Option Common Stock Grant Aquire A No No 4.74 30,000 142.2K 30,000
25 Mar 21 Steven Robert Martin Stock Option Common Stock Grant Aquire A No No 5.14 56,000 287.84K 56,000
25 Mar 21 Brian Varnum Stock Option Common Stock Grant Aquire A No No 5.14 112,000 575.68K 112,000
25 Mar 21 Patrick Todd Stock Option Common Stock Grant Aquire A No No 5.14 112,000 575.68K 112,000

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

3.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 19 20 -5.0%
Opened positions 1 1
Closed positions 2 1 +100.0%
Increased positions 5 5
Reduced positions 2 2
13F shares
Current Prev Q Change
Total value 2.6M 2.79M -6.8%
Total shares 871.5K 874.98K -0.4%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
BAC Bank Of America 633.94K $1.89M 0.0%
Renaissance Technologies 99K $295K +5.7%
Edgewood Management 40K $119K 0.0%
BLK Blackrock 35.98K $107K -12.1%
SF Stifel Financial 19.73K $59K 0.0%
Vanguard 15.15K $45K 0.0%
SeaCrest Wealth Management 12.66K $38K 0.0%
Tower Research Capital 4.67K $14K +105.9%
UBS UBS Group AG - Registered Shares 3.47K $10K +347000.0%
BMO Bank of Montreal 2.44K $9K 0.0%
Largest transactions
Shares Bought/sold Change
Wedbush Securities 0 -10.1K EXIT
Renaissance Technologies 99K +5.3K +5.7%
BLK Blackrock 35.98K -4.97K -12.1%
UBS UBS Group AG - Registered Shares 3.47K +3.47K +347000.0%
Tower Research Capital 4.67K +2.4K +105.9%
Sandy Spring Bank 1K +300 +42.9%
Advisor 484 +183 +60.8%
RY Royal Bank Of Canada 53 -57 -51.8%
JPM JPMorgan Chase & Co. 0 -9 EXIT
Safeguard Investment Advisory 2 +2 NEW

Financial report summary

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Risks
  • There is substantial doubt about our ability to continue as a going concern, which may affect our ability to obtain future financing and may require us to curtail our operations. We will need to raise additional capital to support our operations.
  • We have incurred losses since our inception and anticipate that we will continue to incur significant losses for the foreseeable future, and our future profitability is uncertain.
  • We have never generated any revenue from product sales and may never be profitable.
  • Maintaining and improving our financial controls and the requirements of being a public company may strain our resources, divert management’s attention and affect our ability to attract and retain qualified board members.
  • If we fail to maintain proper and effective internal control over financial reporting, our ability to produce accurate financial statements on a timely basis could be impaired and our public reporting may be unreliable.
  • If we fail to develop and maintain proper and effective processes and operating procedures as a non-traditional government contractor, our ability to adhere to the Department of Defense and related entity standards could impact our ongoing and future development financing awards from the U.S. government.
  • We may not be entitled to forgiveness of our recently received Paycheck Protection Program Loan, and our application for the Paycheck Protection Program Loan could in the future be determined to have been impermissible or could result in damage to our reputation.
  • We have limited operating history, have incurred significant operating losses since inception and expects to incur significant operating losses for the foreseeable future. We may never become profitable or, if achieved, be able to sustain profitability.
  • Results from preclinical studies and Phase 1 or 2 clinical trials of our product candidates or from single-patient expanded access treatments may not be predictive of the results of later stage clinical trials.
  • We are seeking to develop antibacterial agents using bacteriophage and synthetic phage technology, a novel approach, which makes it difficult to predict the time and cost of development. No bacteriophage products have been approved in the United States or elsewhere.
  • Delays in our clinical trials could result in us not achieving anticipated developmental milestones when expected, increased costs and delay our ability to obtain regulatory approval for and commercialize our product candidates.
  • We have not completed formulation development of our product candidates.
  • Our product candidates must undergo rigorous clinical testing, such clinical testing may fail to demonstrate safety and efficacy and any of our product candidates could cause undesirable side effects, which would substantially delay or prevent regulatory approval or commercialization.
  • We must continue to develop manufacturing processes for our product candidates and any delay in or our inability to do so would result in delays in our clinical trials.
  • We may conduct clinical trials for our products or product candidates outside the United States and the FDA may not accept data from such trials.
  • We may need to license additional intellectual property rights.
  • We are subject to significant regulatory approval requirements, which could delay, prevent or limit our ability to market our product candidates.
  • Failure to comply with health and data protection laws and regulations could lead to government enforcement actions (which could include civil or criminal penalties), private litigation and/or adverse publicity and could negatively affect our operating results and business.
  • A variety of risks associated with our international operations could materially adversely affect our business.
  • We depend upon key personnel who may terminate their employment with us at any time and we may need to hire additional qualified personnel in order to obtain financing, pursue collaborations or develop and market our product candidates
  • We must manage a geographically dispersed organization.
  • Because the Merger resulted in an ownership change under Section 382 of the Internal Revenue Code for Armata, Armata’s pre-Merger net operating loss carryforwards and certain other tax attributes will be subject to limitations. The net operating loss carryforwards and other tax attributes of C3J may also be subject to limitations as a result of ownership changes.
  • We rely on third parties to conduct our clinical trials, and their failure to perform their obligations in a timely or competent manner may delay development and commercialization of our product candidates.
  • We are dependent on patents and proprietary technology. If we fail to adequately protect this intellectual property or if we otherwise do not have exclusivity for the marketing of our products, our ability to commercialize products could suffer.
  • We rely on trade secrets and other forms of non-patent intellectual property protection. If we are unable to protect our trade secrets, other companies may be able to compete more effectively against us.
  • If we are sued for infringing intellectual property rights of third parties or if we are forced to engage in an interference proceeding, it will be costly and time-consuming, and an unfavorable outcome in that litigation or interference would have a material adverse effect on our business.
  • If our competitors are able to develop and market products that are more effective, safer or more affordable than ours, or obtain marketing approval before we do, our commercial opportunities may be limited.
  • There is a substantial risk of product liability claims in our business. If we do not obtain sufficient liability insurance, a product liability claim could result in substantial liabilities.
  • Even if we receive regulatory approval to market our product candidates, the market may not be receptive to our product candidates upon their commercial introduction, which would negatively affect our ability to achieve profitability.
  • The uncertainty associated with pharmaceutical reimbursement and related matters may adversely affect our business.
  • The price of our common stock has been and may continue to be volatile.
  • We have never paid dividends on our common stock, and we do not anticipate paying any cash dividends on our common stock in the foreseeable future.
  • Our business and operations might be adversely affected by security breaches, including any cybersecurity incidents.
  • Interruptions in the availability of server systems or communications with Internet or cloud based services, or failure to maintain the security, confidentiality, accessibility or integrity of data stored on such systems, could harm our business.
  • If securities or industry analysts do not publish research or publish unfavorable research about our business, our stock price and trading volume could decline.
  • Sales of a substantial number of shares of our common stock in the public market by our existing stockholders could cause our stock price to decline.
  • Future sales and issuances of our common stock or rights to purchase common stock by us, including pursuant to our equity incentive plans, could result in additional dilution of the percentage ownership of our stockholders and could cause our stock price to decline.
  • Provisions of Washington law and our current articles of incorporation and bylaws may discourage another company from acquiring us and may prevent attempts by our stockholders to replace or remove our current management.
  • Foreign governments tend to impose strict price controls, which may adversely affect our future profitability.
  • We may incur significant costs complying with environmental laws and regulations, and failure to comply with these laws and regulations could expose us to significant liabilities.
  • Taxing authorities could reallocate our taxable income among our subsidiaries, which could increase our overall tax liability.
Management Discussion
  • Item 7.     MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • You should read the following discussion and analysis of our financial condition and results of operations in conjunction with the consolidated financial statements and the related notes contained elsewhere in this Annual Report. Some of the information contained in this discussion and analysis are set forth elsewhere in this Annual Report, including information with respect to our plans and strategy for our business and related financing, includes forward-looking statements that involve risks and uncertainties. See “Special Note Regarding Forward-Looking Statements.” Our actual results may differ substantially from those referred to herein due to a number of factors, including but not limited to risks described in the section entitled “Risk Factors” and elsewhere in this Annual Report.
  • Our predecessor, C3 Jian, Inc., was incorporated under the laws of the state of California on November 4, 2005. On February 26, 2016, as part of a reorganization transaction, C3 Jian, Inc. merged with a wholly owned subsidiary of C3J, and as part of this process, C3 Jian, Inc. was converted to a limited liability company organized under the laws of the State of California named C3 Jian, LLC. On May 9, 2019, C3J completed a reverse merger with AmpliPhi, where Ceres Merger Sub, Inc., a wholly-owned subsidiary of AmpliPhi, merged with and into C3J. Following the completion of the Merger, and a $10.0 million concurrent private placement financing, the former C3J stockholders owned approximately 76% of our common stock and the former AmpliPhi stockholders owned approximately 24% of our common stock.
Content analysis
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Legalese
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Readability
H.S. sophomore Avg
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Patents

APP
Utility
Therapeutic Bacteriophage Compositions for Treating Staphylococcus Infection
18 Mar 21
The present disclosure relates to a bacteriophage composition comprising one or more (suitably two or more, or three) obligately lytic bacteriophages capable of infecting and lysing Staphylococcus aureus, and use of the same for treating Staphylococcus aureus bacterial infections.
APP
Utility
Dental Varnishes That Release Specifically Targeted Antimicrobial Peptides And/or Fluoride
2 Sep 20
In various embodiments a dental varnish system having improved peptide release and fluoride release properties is provided.
APP
Utility
Therapeutic Bacteriophage Compositions
3 Jun 20
The present invention relates to a bacteriophage composition comprising one or more (suitably two or more, or three) bacteriophages selected from Sa87, J-Sa36, Sa83, J-Sa37, or mutants thereof, use of the same for medical or non-medical applications, kits, bandage, and wound dressing comprising the same.
APP
Utility
Dental Strips for the Delivery of Specifically Targeted Antimicrobial Peptides
15 Apr 20
In certain embodiments a dental strip for the prevention or reduction of dental caries is provided.
GRANT
Utility
Therapeutic bacteriophage compositions
30 Dec 19
The present invention relates to a bacteriophage composition comprising one or more (suitably two or more, or three) bacteriophages selected from Sa87, J-Sa36, Sa83, J-Sa37, or mutants thereof, use of the same for medical or non-medical applications, kits, bandage, and wound dressing comprising the same.