Armata Pharmaceuticals, Inc. 8-K

Summary

Q2 2026 results and corporate update. Armata reported net income driven by a noncash gain on the Convertible Loan, while operating loss widened. The company expects to initiate the pivotal Phase 3 AP-SA02 study in H2 2026; it submitted the protocol to the FDA and completed key manufacturing and regulatory milestones. The FDA granted Fast Track designation and agreed to an initial pediatric study plan. Armata also received $2.5M in additional Department of War funding, bringing receipts under the award to $28.7M.

Key Figures

• Other income, net, was $84.5M, primarily reflecting a $91.0M noncash gain from the change in fair value of the Convertible Loan, partly offset by $6.63M of interest expense; the prior-year quarter had $9.45M of other expense, net.
• R&D expense was $7.59M vs $6.39M and general and administrative expense was $5.24M vs $2.62M, with increases primarily from higher noncash stock-based compensation. For the six months, operating loss was $19.1M vs $15.0M, net loss was $41.2M vs $22.8M, and operating cash use was $14.4M vs $14.8M.
• Unrestricted cash and cash equivalents were $24.0M at 6/30/2026 vs $8.69M at 12/31/2025. The increase primarily reflected $25.0M in term-loan proceeds, $2.37M in net ATM proceeds and $1.21M from stock option exercises, partly offset by operating cash use.

Guidance

No guidance in this filing.

Investor Takeaways

• The planned H2 2026 start of the pivotal AP-SA02 Phase 3 study is the next key milestone; clinical-trial material production is the next planned manufacturing step.