News to Track: Armata Pharmaceuticals (NYSE:ARMP)

Armata Pharmaceuticals (NYSE:ARMP) stock identified change of 12.24% away from 52-week low price and recently located move of -60.26% off 52-week high price. It has market worth of $32.09MM. ARMP stock has been recorded -22.11% away from 50 day moving average and -27.11% away from 200 day moving average. Moving closer, we can see that shares have been trading -21.92% off 20-day moving average.

On March 19,2020, Armata Pharmaceuticals (NYSE American:ARMP) a clinical-stage biotechnology company focused on precisely targeted bacteriophage therapeutics for antibiotic-resistant infections,  released results for the fourth quarter and full year 2019 and provided a corporate and clinical update.

Key Fourth Quarter and Subsequent Period Highlights:

  • Entered into a $25 million securities purchase agreement pursuant to which Innoviva (Innoviva) will purchase approximately 8.7 million shares of Armata common stock at $2.87 per share and warrants to purchase an additional approximately 8.7 million shares with an exercise price of $2.87 per share.
  • Announced the closing of the first tranche of the Innoviva securities purchase agreement, issuing 993,139 common shares and warrants to purchase 993,139 common shares in exchange for gross proceeds of approximately $2.8 million. The Company obtained voting agreements from shareholders representing approximately 55% of its outstanding shares that have agreed to vote in favor of the financing at the special shareholder meeting now scheduled for March 26, 2020. Following approval at the meeting, the second tranche of $22.2 million will be received by Armata.
  • In connection with the financing transaction, appointed Sarah Schlesinger, M.D. and Odysseas Kostas, M.D. to its Board of Directors, both of whom also serve on the Board of Innoviva.
  • Continued to advance development of its lead program, a Pseudomonas aeruginosa phage product candidate AP-PA02, toward submission of an Investigational New Drug application (IND) seeking regulatory approval to initiate a first-in-human clinical trial this year. GMP production of the product candidate has been completed at the Company’s Marina del Rey facility.
  • Announced that the Company has been awarded up to $5 million in a development award grant from the Cystic Fibrosis Foundation to help fund the Pseudomonas aeruginosa phage development.
  • Expanded the Board of Directors with the appointment of research and development veteran Todd C. Peterson, Ph.D., and strengthened its clinical team with the appointment of Heather Dale Jones, M.D., as Vice President, Clinical Development.

The stock observed return of -8.33% in 5 days trading activity. The stock was at -38.20% over one month performance. ARMP’s shares are at -33.25% for the quarter and driving a -38.62% return over the course of the past year and is now at -15.38% since this point in 2018.

The average volatility for the week at 15.06% and for month was at 10.29%. There are 11.67M shares outstanding and 6.84M shares are floated in market. Right now the stock beta is 2.14.

Leave a Reply

Your email address will not be published. Required fields are marked *