Armata Pharmaceuticals (ARMP) announced that it has entered into a credit and security agreement with Innoviva Strategic Opportunities LLC, a wholly-owned subsidiary of Innoviva (INVA). The gross proceeds of the credit agreement at closing are $25M before transaction-related expenses. Armata also announced a leadership transition whereby Dr. Deborah Birx will succeed Dr. Brian Varnum as the CEO of the Company, effective immediately. Dr. Birx will also join Armata’s Board of Directors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>