Armata Pharmaceuticals, Inc. ARMP
We are a late clinical-stage biotechnology company focused on the development of high-purity and potency, pathogen-specific bacteriophage therapeutics for the treatment of antibiotic-resistant and difficult-to-treat bacterial infections using our proprietary bacteriophage-based technology. We have completed three Phase 2 clinical trials to date.
We see bacteriophages as a potentially safer and effective alternative to antibiotics and an essential response to the growing bacterial resistance to current classes of antibiotics. Bacteriophages or "phages" have a powerful and highly differentiated mechanism of action that enables binding to and killing of specific targeted bacteria while uniquely preserving the normal human microbiome or "healthy bacteria". This is in direct contrast to traditional broad-spectrum antibiotics which can alter the human microbiome increasing susceptibility to opportunistic pathogens, such as Clostridium difficile. We believe that phages represent a promising means to effectively treat bacterial infections as an alternative to broad-spectrum antibiotics, especially for patients with bacterial infections resistant to current standard of care therapies, including the multidrug-resistant or "superbug" strains of bacteria. We are a leading developer of clinical-stage phage therapeutics of high purity and potency, and believe we are uniquely positioned to address the growing worldwide threat of antibiotic-resistant bacterial infections.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| R&D | — | — | — | — | — | — | $9.8M | $8.4M | $2.9M | $5.7M |
| SG&A | $12.4M | $13.2M | $11.6M | $7.4M | $8.3M | $8.0M | $9.3M | $2.5M | $7.6M | $8.4M |
| Total operating expenses | $41.5M | $47.6M | $45.4M | $42.5M | $28.3M | $22.4M | $19.8M | $17.7M | $16.3M | $23.6M |
| Operating income | -$36.6M | -$42.4M | -$40.9M | -$36.9M | -$23.8M | -$21.6M | -$19.8M | -$17.7M | -$16.2M | -$23.4M |
| Interest expense | — | — | — | $0 | $64.0K | $628.0K | $931.0K | $1.0M | — | $6.0K |
| Pre-tax income | -$173.8M | -$18.9M | -$69.0M | -$36.9K | -$23.2M | -$22.2M | -$19.5M | -$16.7M | -$14.1M | -$19.4M |
| Income tax | — | — | — | — | — | — | — | $328.0K | $1.3M | $556.0K |
| Net income | -$173.8M | -$18.9M | -$69.0M | -$36.9M | -$23.2M | -$22.2M | -$19.5M | -$16.7M | -$12.8M | -$18.8M |
| EPS, basic | -4.80 | -0.52 | -1.91 | -1.08 | -0.96 | -1.35 | -2.49 | -3.59 | -2.01 | -24.67 |
| EPS, diluted | -4.80 | -0.89 | -1.91 | -1.08 | -0.96 | -1.35 | -2.55 | -3.59 | -2.18 | -24.67 |
| Shares, diluted (wtd. avg.) | 36.2M | 59.1M | 36.1M | 34.3M | 24.1M | 16.4M | 8.0M | 4.7M | 6.6M | 983,846 |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $8.7M | $9.3M | $19.2M | $20.8M | $11.5M | $10.8M | $6.7M | $10.5M | $12.3M | $5.7M |
| Receivables | — | — | — | — | — | — | — | — | — | $25.0K |
| Total current assets | $10.7M | $11.3M | $19.2M | $27.0M | $15.0M | $10.8M | $6.7M | $10.4M | $5.4M | $6.3M |
| Property, plant and equipment | $12.2M | $13.2M | $12.6M | $3.6M | $2.2M | $2.0M | $2.2M | $3.2M | $816.0K | $1.1M |
| Goodwill | $3.5M | $3.5M | $3.5M | $3.5M | $3.5M | $3.5M | $3.5M | — | — | — |
| Other intangibles | $10.3M | $10.3M | $10.3M | $10.3M | $10.3M | $10.3M | $10.3M | $2.7M | $4.7M | $10.5M |
| Total assets | $76.9M | $86.4M | $98.4M | $95.8M | $69.8M | $39.5M | $25.5M | $14.5M | $11.1M | $18.2M |
| Accounts payable | $921.0K | $766.0K | $1.6M | $1.7M | $1.1M | $956.0K | $547.0K | $415.0K | $578.0K | $1.1M |
| Total current liabilities | $8.9M | $48.2M | $16.5M | $24.9M | $4.8M | $6.7M | $4.9M | $2.0M | $2.0M | $3.5M |
| Total liabilities | $295.5M | $134.5M | $130.4M | $59.8M | $44.4M | $20.7M | $10.9M | $6.9M | $3.4M | $8.4M |
| Retained earnings | -$501.5M | -$327.7M | -$308.8M | -$239.8M | -$202.9M | -$179.7M | -$157.5M | -$138.0M | -$394.2M | -$381.4M |
| Total equity | -$218.6M | -$48.0M | -$32.1M | $36.1M | $25.4M | $18.9M | $14.6M | $7.7M | $24.3M | $9.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$25.8M | -$37.6M | -$47.4M | -$32.5M | -$23.6M | -$18.3M | -$15.6M | -$10.6M | -$9.2M | -$10.6M |
| Depreciation and amortisation | $1.5M | $1.3M | $972.0K | $892.0K | $1.2M | $1.1M | $1.4M | $1.4M | $343.0K | $338.0K |
| Stock-based compensation | $2.6M | $2.9M | $938.0K | $3.1M | $2.9M | $3.5M | $4.3M | $46.0K | $700.0K | $2.0M |
| Capital expenditure | $542.0K | $1.9M | $8.1M | $2.2M | $1.3M | $824.0K | $224.0K | $875.0K | $1.0M | $279.0K |
| Investing cash flow | -$542.0K | -$1.9M | -$8.1M | -$2.2M | -$1.3M | -$824.0K | $2.9M | $8.8M | -$58.0K | -$279.0K |
| Financing cash flow | $25.6M | $35.0M | $54.0M | $44.0M | $25.5M | $23.2M | $9.0M | $12.5M | $8.7M | $7.2M |
| Dividends paid | — | — | — | — | — | — | — | — | — | $80.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-049437.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | -$18.8M | -$12.8M | -$16.7M | -$19.5M | -$22.2M | -$23.2M | -$36.9M | -$69.0M | -$18.9M | -$173.8M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Regulation FD disclosure Item 7.01
- Officer or director change Item 5.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Results announced Item 2.02
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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