Armata Pharmaceuticals reports Q3 EPS (86c) vs. (24c) last year

Reports Q3 revenue $1.23M vs. $1.34M last year. “During the third quarter, we continued to make meaningful progress advancing our pipeline of phage therapeutics that we believe can address the growing global health crisis of multidrug resistant bacterial infections,” stated Dr. Deborah Birx, CEO. “Notably, we are seeing accelerating enrollment in the Phase 2a portion of our diSArm study of AP-SA02. Due to the continued high level of patient tolerance on the intravenous phage, we expect to escalate our dose throughout the Phase 2 trial to define the Phase 3 dose. We are developing AP-SA02 with financial support from the Department of Defense as a potential treatment for S. aureus bacteremia. We believe the current enrollment trends will result in completion of the Phase 2 study in 2024, which would allow us to design the pivotal Phase 3 trial. Regarding AP-PA02, we are also seeing accelerating enrollment in our ongoing Tailwind Phase 2 study of PA02 in non-cystic fibrosis bronchiectasis. Importantly, both our diSArm and Tailwind studies continue to demonstrate favorable safety and tolerability profiles, including IV administration twice per day over multiple days. We are also fast approaching the completion of the build-out of our advanced biologics manufacturing facility that will provide us with the capacity to execute our own late-stage trials while pursuing important partnering opportunities. When completed, this facility will represent a significant step towards firmly establishing our position as a leader in the development of phage-based therapeutics. I am pleased with our continued progress, our ability to contain costs despite one-time G&A expenses realized in the third quarter. I believe we are well positioned to sustain our current momentum while continuing to contain costs through the remainder of the year and into 2024,” Dr. Birx concluded.