Armata Pharmaceuticals, Inc.
ARMP evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for ARMP—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · ARMP
Armata Pharmaceuticals, Inc. is a clinical-stage biotechnology company focused on developing targeted bacteriophage therapies for antibiotic-resistant infections, with lead candidates AP-SA02 and AP-PA02 in completed Phase 2 trials.
Key risk: Going concern uncertainty
BioSniper Score
Based on 4 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 3 pipeline candidates · 2 clinical trials for Armata Pharmaceuticals, Inc..
Similar companies
Armata Pharmaceuticals, Inc. is a clinical-stage biotechnology company focused on developing targeted bacteriophage therapies for antibiotic-resistant infections, with lead candidates AP-SA02 and AP-PA02 in completed Phase 2 trials.
- Armata Pharmaceuticals is a clinical-stage biotech developing phage therapies for drug-resistant bacterial infections [sec_mda · as of 2026-08-12].
- Lead candidates AP-SA02 (Staphylococcus aureus) and AP-PA02 (Pseudomonas aeruginosa) have completed Phase 2 trials [catalyst].
- As of June 30, 2026, the company reported cash and equivalents of $28.1M, net income of $74.1M, shareholders' equity of -$69.5M, and total debt of $163.9M [sec].
- The company has an accumulated deficit of $616.9 million as of May 13, 2026 [sec_mda · as of 2026-05-13].
- Management has expressed substantial doubt about the company's ability to continue as a going concern, stating existing cash will not fund operations for the next 12 months [sec_mda · as of 2026-08-12].
What works
- Armata has completed Phase 2 clinical trials for two lead phage therapy candidates targeting serious antibiotic-resistant infections [catalyst].
- The company's targeted phage therapy strategy addresses a growing unmet medical need in multidrug-resistant bacterial infections [sec_mda · as of 2026-08-12].
What to weigh
- The company has an accumulated deficit of $616.9 million and has not yet generated product revenue [sec_mda · as of 2026-05-13].
- Management has identified substantial doubt about the company's ability to continue as a going concern, with cash insufficient to fund operations for the next 12 months [sec_mda · as of 2026-08-12].
- Shareholders' equity is negative at -$69.5 million as of June 30, 2026, with total debt of $163.9 million [sec].
Risks & what to watch (4)›
Key risks
- Going concern uncertainty — Existing cash will not fund operations for the next 12 months, raising substantial doubt about the company's ability to continue [sec_mda · as of 2026-08-12].
- No product revenue — The company does not expect to generate product revenue unless and until it obtains marketing approval for a product candidate [sec_mda · as of 2026-05-13].
- High accumulated deficit — Accumulated deficit of $616.9 million as of May 13, 2026, reflecting years of R&D spending without commercial revenue [sec_mda · as of 2026-05-13].
- Negative equity and high debt — Shareholders' equity of -$69.5M and total debt of $163.9M as of June 30, 2026 indicate a highly leveraged balance sheet [sec].
What to watch
- Ability to secure additional financing to fund operations beyond the next 12 months [sec_mda · as of 2026-08-12].
- Regulatory progress and potential approval for AP-SA02 or AP-PA02 following completed Phase 2 trials [catalyst].
- Any updates on the company's targeted phage therapy strategy and pipeline expansion [sec_mda · as of 2026-08-12].
Sources: Catalysts · SEC MD&A · Generated August 24, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
9.7 months
OCF -$9M · Net income $74M
Lead: Phase 1/Phase 2
3 candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Runway
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
42
Total value held
$20.9M
| Holder | Shares | Value |
|---|---|---|
| vanguard capital management llc | 732,056 | $7.5M |
| millennium management llc | 257,992 | $2.6M |
| 683 capital management, llc | 137,000 | $1.4M |
| geode capital management, llc | 114,555 | $1.2M |
| edgewood management llc | 100,000 | $1.0M |
| sei investments co | 74,192 | $760K |
| vanguard fiduciary trust co | 67,864 | $695K |
| blackrock, inc. | 65,050 | $666K |
| susquehanna international group, llp | 64,759 | $663K |
| informed momentum co llc | 60,955 | $624K |
Showing top 10 of 42 institutional holders of Armata Pharmaceuticals, Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 20, 2026- % of float
- 2.1%
- Days to cover
- 3.6
- Shares short
- 230,017
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
ARMP short interestGovernance
Frequently asked questions
What is the AI investment thesis for Armata Pharmaceuticals, Inc.?
Armata Pharmaceuticals, Inc. is a clinical-stage biotechnology company focused on developing targeted bacteriophage therapies for antibiotic-resistant infections, with lead candidates AP-SA02 and AP-PA02 in completed Phase 2 trials.
What is Armata Pharmaceuticals, Inc.'s lead drug candidate?
Armata Pharmaceuticals, Inc.'s most advanced tracked candidate is AP-PA02 (Phase 2) for Non-cystic Fibrosis Bronchiectasis.
Who is the CEO of Armata Pharmaceuticals, Inc.?
Dr. Deborah L. Birx M.D. is the chief executive officer of Armata Pharmaceuticals, Inc. (ARMP).
Where is Armata Pharmaceuticals, Inc. headquartered?
Armata Pharmaceuticals, Inc. (ARMP) is headquartered in Los Angeles, CA, United States.
What therapeutic areas does Armata Pharmaceuticals, Inc. focus on?
Armata Pharmaceuticals, Inc. develops therapies across Rare Disease, Infectious Disease, Respiratory.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.