Latest news with #Armata
Boston Globe
21-05-2025
- General
- Boston Globe
Panel makes historic Old Corner Bookstore and Cunningham House official landmarks in Boston
Following a public review process, the Landmarks Commission voted 9-0 May 13 to recognize the buildings' historic value and architectural significance, according to the panel. 'The Old Corner Bookstore at 283 Washington Street is locally significant as the oldest extant commercial building in Boston, and nationally significant as the former home of Ticknor and Fields, a prominent nineteenth-century book publisher,' said Nicholas A. Armata, senior preservation planner at the Office of Historic Preservation, in an email to the Globe. Ticknor and Fields published works by some of the most notable authors of the 19th century including Charles Dickens, Henry David Thoreau, Harriet Beecher Stowe, Ralph Waldo Emerson, Nathaniel Hawthorne, and Louisa May Alcott. Advertisement Photo taken of Old Corner Bookstore site in 1920 while building was occupied by Cigar store. Leon H. Abdalian A Landmark status protects a historic site from physical changes that might compromise its integrity, according to the The Old Corner Bookstore and Cunningham House were constructed out of brick in 1718 after a large fire in 1711 destroyed nearly 100 buildings in the area, and wood buildings were banned downtown, according to the Landmarks' Commission Advertisement The buildings are rare surviving examples of residential Georgian architecture, popular during the 18th century, according to the Landmarks Commission. The Old Corner Bookstore was occupied by booksellers and publishers from 1828 to 1903, while the adjacent Cunningham House at 277 Washington Street was occupied by booksellers and publishers from 1828 to the 1880s, according to Armata. The buildings had various tenants throughout the first half of the 20th century including restaurants, printing shops, management companies, tailors, and furriers, Armata said. Photo taken of Old Corner Bookstore [ca. 1961–1965]. George M. Cushing, Jr. In the 1960s, the Old Corner Bookstore and Cunningham House faced demolition under city renewal plans for a parking garage, according to Armata. Recognizing their historic value, the Bostonian Society helped form Historic Boston, Inc. (HBI), a nonprofit dedicated to preserving the city's architectural heritage through active reuse, according to the study report. HBI proved that the buildings did not have to be preserved as museums, but could continue to host tenants, 'generating municipal tax revenue and adding value to the surrounding neighborhood,' the study report said. '[The building] was saved from demolition thanks in part to the Boston Globe,' Armata said. In the late 20th century, the Globe opened an advertising office on the ground floor while members of Charles Taylor's family, the newspaper's founding publisher and business manager, took offices upstairs, 'making financing the preservation project feasible,' according to Armata. The final paperwork for Landmark designation was submitted to the Boston City Clerk's office on May 14, Armata said. Boston Mayor Michelle Wu will have until May 29 to approve, reject, or take no action on the designation, Armata said. Advertisement If accepted or if no action is taken the petition is transmitted to the Boston City Council. The Council will then have 30 days to approve, reject, or take no action, according to Armata. Sarah Mesdjian can be reached at
Yahoo
20-03-2025
- Business
- Yahoo
Armata Pharmaceuticals Announces Fourth Quarter and Full-Year 2024 Results and Provides Corporate Update
LOS ANGELES, March 20, 2025 /PRNewswire/ -- Armata Pharmaceuticals, Inc. (NYSE American: ARMP) ("Armata" or the "Company"), a clinical-stage biotechnology company focused on the development of high-purity, pathogen-specific bacteriophage therapeutics for the treatment of antibiotic-resistant and difficult-to-treat bacterial infections, today announced financial results for its fourth quarter and full-year ended December 31, 2024, and provided a corporate update. Fourth Quarter 2024 and Recent Developments: Announced encouraging topline results from its Phase 2 Tailwind study evaluating inhaled AP-PA02 as a potential treatment for chronic pulmonary disease; Pseudomonas aeruginosa ("P. aeruginosa" or "P.a.") infection in non-cystic fibrosis bronchiectasis ("NCFB") patients. The Phase 2 Tailwind study represents the second successful clinical trial for AP-PA02, Armata's lead pulmonary candidate, which was first evaluated in people with cystic fibrosis in the Phase 1b/2a SWARM-P.a. trial that completed in 2023; Inhaled AP-PA02 was well-tolerated, with treatment-emergent adverse events mild and self-limiting; Post-hoc intent-to-treat analysis demonstrated a statistically significant reduction of P.a. colony forming units ("CFUs") at one and two weeks post-dosing. Approximately one-third of all subjects treated with phage monotherapy exhibited at least a 2-log CFU reduction in P.a.; and Data suggest AP-PA02 alone is as effective as AP-PA02 plus antibiotics in reducing P.a. CFUs in the lungs of NCFB patients, and indicates the potential for phage therapy to reduce reliance on chronic antibiotic use. Completed enrollment of Phase 1b/2a diSArm study of intravenous ("IV") AP-SA02 as a potential treatment for Staphylococcus aureus ("S. aureus") bacteremia. Blinded data demonstrates AP-SA02 is well-tolerated following IV administration of up to 5E10 plaque forming units ("PFUs") every six hours (2E11 PFU every 24 hours) for five days; Persistence of AP-SA02 in a subset of complicated bacteremia subjects is consistent with in vivo phage amplification despite 48-72 hours of broad-spectrum IV antibiotics -- unblinding is critical to understand subjects' clinical presentation; Topline data anticipated in the first half of 2025; and Anticipate that findings from the diSArm study will inform the design of a pivotal trial strategy to be discussed with the U.S. Food and Drug Administration (the "FDA") that may enable Armata to obtain agreement on a path to potential approval. Further advanced bacteriophage science through presentations and publications. Presented at 7th Annual Phage Therapy Summit, March 11-13, 2025, Boston, MA; Presented at 5th Annual Phage Futures Meeting, November 19, 2024, Boston, MA; and Announced structural biology publication in the journal Communications Biology describing a representative phage in Armata's clinical candidate, AP-PA02. In March 2025, entered into a $10.0 million secured credit agreement with Innoviva Strategic Opportunities LLC, a wholly-owned subsidiary of Innoviva, Armata's principal shareholder. "During the fourth quarter, we achieved another significant clinical milestone with encouraging topline results from our Phase 2 Tailwind study evaluating inhaled AP-PA02 in NCFB patients as both monotherapy and in combination with inhaled anti-pseudomonal antibiotics," stated Dr. Deborah Birx, Chief Executive Officer of Armata. "This was the second successful clinical evaluation of AP-PA02 following our Phase 1b/2a SWARM-P.a. trial in cystic fibrosis patients. We believe the learnings gained from the two completed Phase 2 studies position Armata to design a pivotal trial to evaluate AP-PA02 as an alternative to antibiotics in NCFB patients with chronic pulmonary P. aeruginosa infection." "We also completed enrollment of our Phase 1b/2a diSArm study evaluating our high purity phage product candidate, AP-SA02, as a potential treatment for S. aureus bacteremia. We expect to report topline results in the first half of this year, and believe data will provide valuable insights into the safety and tolerability of AP-SA02 at high intravenous doses, and inform the dose and schedule to be studied in a larger efficacy study, which we plan to discuss with the FDA this year." "We remain committed to developing a definitive efficacy trial focused on phage as an alternative to broad-spectrum antibiotics and/or antibiotic-sparing to decrease the utilization of traditional antibiotics and their detrimental impact on the normal human microbiome. I believe we are well positioned to achieve value-creating milestones in 2025 as the Armata team continues to work to introduce a novel therapeutic class to help fight the global health crisis of antimicrobial resistance," Dr. Birx concluded. Fourth Quarter 2024 Financial Results Grant Revenue. The Company recognized grant revenue of $1.2 million for the three months ended December 31, 2024 as compared to $1.5 million in the comparable period in 2023, which represents MTEC's share of the costs incurred for the Company's AP-SA02 program for the treatment of S. aureus bacteremia. Research and Development. Research and development expenses for the three months ended December 31, 2024 were approximately $8.5 million as compared to approximately $7.9 million for the comparable period in 2023. The Company continues to invest in clinical-related expenses associated with its primary development programs. General and Administrative. General and administrative expenses for the three months ended December 31, 2024 were approximately $3.3 million as compared to approximately $3.2 million for the comparable period in 2023. The increase was mainly related to an increase of $0.3 million in personnel related expenses during the fourth quarter of 2024, offset in part by a decrease of $0.2 million in professional services. Loss from Operations. Loss from operations for the three months ended December 31, 2024 was approximately $10.5 million as compared to a loss from operations of approximately $9.6 million for the comparable period in 2023. Net Income (Loss). The net income for the fourth quarter of 2024 was $2.6 million, or $0.07 per share on a basic and $(0.23) per share on a diluted basis, as compared to a net loss of $19.8 million, or $(0.55) per share on both a basic and diluted basis, for the comparable period in 2023. The net income for the quarter ended December 31, 2024 included non-cash gain from the changes in fair value of convertible loan of $14.2 million and non-cash gain from debt extinguishment of $2.2 million, as compared to $8.9 million loss from the changes in fair value of convertible loan for the quarter ended December 31, 2023. Cash and Equivalents. As of December 31, 2024, Armata held approximately $14.8 million of cash and cash equivalents and restricted cash, as compared to $19.2 million as of December 31, 2023. On March 12, 2025, the Company entered into a credit and security agreement for a loan in an aggregate amount of $10.0 million with Innoviva SO. The loan bears interest at an annual rate of 14% and matures on March 12, 2026. Principal and accrued interest are payable at maturity. The Company and Innoviva also entered into amendments to the three pre-existing credit and security agreements in order to, among other things, extend the maturity dates under such agreements to March 12, 2026. As of February 28, 2025, there were approximately 36.2 million common shares outstanding. About Armata Pharmaceuticals, Inc. Armata is a clinical-stage biotechnology company focused on the development of high-purity pathogen-specific bacteriophage therapeutics for the treatment of antibiotic-resistant and difficult-to-treat bacterial infections using its proprietary bacteriophage-based technology. Armata is developing and advancing a broad pipeline of natural and synthetic phage candidates, including clinical candidates for Pseudomonas aeruginosa, Staphylococcus aureus, and other pathogens. Armata is committed to advancing phage therapy with drug development expertise that spans bench to clinic including in-house phage-specific cGMP manufacturing to support full commercialization. Forward Looking Statements This communication contains "forward-looking" statements as defined by the Private Securities Litigation Reform Act of 1995. These statements relate to future events, results or to Armata's future financial performance and involve known and unknown risks, uncertainties and other factors which may cause Armata's actual results, performance or events to be materially different from any future results, performance or events expressed or implied by the forward-looking statements. In some cases, you can identify these statements by terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "would" or the negative of those terms, and similar expressions. These forward-looking statements reflect management's beliefs and views with respect to future events and are based on estimates and assumptions as of the date of this communication and are subject to risks and uncertainties including risks related to Armata's development of bacteriophage-based therapies; ability to staff and maintain its production facilities under fully compliant current Good Manufacturing Practices; ability to meet anticipated milestones in the development and testing of the relevant product; ability to be a leader in the development of phage-based therapeutics; ability to achieve its vision, including improvements through engineering and success of clinical trials; ability to successfully complete preclinical and clinical development of, and obtain regulatory approval of its product candidates and commercialize any approved products on its expected timeframes or at all; and Armata's estimates regarding anticipated operating losses, capital requirements and needs for additional funds. Additional risks and uncertainties relating to Armata and its business can be found under the caption "Risk Factors" and elsewhere in Armata's filings and reports with the SEC, including in Armata's Annual Report on Form 10-K, filed with the SEC on March 20, 2025, and in its subsequent filings with the SEC. Armata expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Armata's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. Media Contacts: At Armata:Pierre Kymeir@ Investor Relations:Joyce AllaireLifeSci Advisors, LLCjallaire@ Armata Pharmaceuticals, Inc. Condensed Consolidated Balance Sheets (in thousands) December 31, 2024December 31, 2023AssetsCurrent assetsCash and cash equivalents$ 9,291$ 13,523Prepaid expenses and other current assets 1,273 2,265Other receivables 744 3,363Total current assets 11,308 19,151Property and equipment, net 13,241 12,559Operating lease right-of-use asset 41,687 44,717Intangible assets, net 13,746 13,746Other long term assets 6,455 8,190Total assets$ 86,437$ 98,363Liabilities and stockholders' deficitAccounts payable, accrued and other current liabilities 9,295 16,461Term debt, current 38,954 —Total current liabilities$ 48,249$ 16,461Convertible loan, non-current 32,897 58,633Term debt, non-current 22,539 23,674Operating lease liabilities, net of current portion 27,694 28,583Deferred tax liability 3,077 3,077Total liabilities 134,456 130,428Stockholders' deficit (48,019) (32,065)Total liabilities and stockholders' deficit$ 86,437$ 98,363 Armata Pharmaceuticals, Inc. Condensed Consolidated Statements of Operations (in thousands, except share and per share data)Three Months Ended Year Ended December 31, December 31, 2024202320242023Grant revenue$ 1,235$ 1,528$ 5,174$ 4,529Operating expensesResearch and development 8,450 7,928 34,426 33,770General and administrative 3,323 3,179 13,184 11,649Total operating expenses 11,773 11,107 47,610 45,419Operating loss (10,538) (9,579) (42,436) (40,890)Interest income 130 68 697 179Interest expense (3,281) (1,450) (10,742) (2,626)Change in fair value of convertible loan 14,123 (8,886) 31,399 (21,845)Gain (loss) on debt and convertible loan extinguishments 2,166 — 2,166 (3,863)Net income (loss)$ 2,600$ (19,847)$ (18,916)$ (69,045)Per share information: Net income (loss) per share, basic$ 0.07$ (0.55)$ (0.52)$ (1.91) Weighted average shares outstanding, basic 36,183,067 36,100,869 36,160,848 36,075,555 Net loss per share, diluted$ (0.23)$ (0.55)$ (0.89)$ (1.91) Weighted average shares outstanding, diluted 59,082,190 36,100,869 59,059,971 36,075,555 Armata Pharmaceuticals, Inc. Condensed Consolidated Statements of Cash Flows (in thousands) Year Ended December 31, 20242023Operating activities:Net loss$ (18,916)$ (69,045)Adjustments required to reconcile net loss to net cash used in operating activities:Depreciation and amortization expense 1,325 972Stock-based compensation expense 2,893 938Change in fair value of convertible loan (31,399) 21,845Non-cash interest expense 10,758 2,573Non-cash interest income — (22)Gain (loss) on debt and convertible loan extinguishments (2,166) 3,863Change in right-of-use asset 2,053 1,018Loss from disposal of property and equipment — 81Changes in operating assets and liabilities: (2,099) (9,646)Net cash used in operating activities (37,551) (47,423)Investing activities:Purchases of property and equipment (1,879) (8,144)Proceeds from sale of property and equipment — 10Net cash used in investing activities (1,879) (8,134)Financing activities:Proceeds from issuance of convertible loan, net of issuance costs — 29,101Proceeds from issuance of term debt, net of issuance costs 34,889 24,925Payments for taxes related to net share settlement of equity awards (61) (43)Proceeds from exercise of stock options 130 5Net cash provided by financing activities 34,958 53,988Net decrease in cash, cash equivalents and restricted cash (4,472) (1,569)Cash, cash equivalents and restricted cash, beginning of period 19,243 20,812Cash, cash equivalents and restricted cash, end of period$ 14,771$ 19,243 Year Ended December 31, 20242023 Cash and cash equivalents$ 9,291$ 13,523 Restricted cash 5,480 5,720 Cash, cash equivalents and restricted cash, end of period$ 14,771$ 19,243 View original content to download multimedia: SOURCE Armata Pharmaceuticals, Inc.
Yahoo
12-03-2025
- Business
- Yahoo
Armata Pharmaceuticals Announces $10 Million Secured Credit Agreement with Innoviva
Proceeds to be used to continue to advance development of Armata's phage product candidates LOS ANGELES, March 12, 2025 /PRNewswire/ -- Armata Pharmaceuticals, Inc. (NYSE American: ARMP) ("Armata" or the "Company"), a clinical-stage biotechnology company focused on the development of high-purity pathogen-specific bacteriophage therapeutics for the treatment of antibiotic-resistant and difficult-to-treat bacterial infections, today announced that it has entered into a secured credit agreement with Innoviva Strategic Opportunities LLC, a wholly-owned subsidiary of Innoviva, Inc. (Nasdaq: INVA) (collectively, "Innoviva"), Armata's largest shareholder. The gross proceeds to be received by the Company at closing are $10 million before deducting transaction-related expenses. Proceeds from the new financing transaction will be used to advance the Company's lead therapeutic phage candidates, including AP‐PA02 and AP‐SA02, which target infections caused by Pseudomonas aeruginosa and Staphylococcus aureus, respectively. "Innoviva continues to be an instrumental partner to Armata in support of our mission, the clinical development of our two lead phage cocktails, AP-PA02 and AP-SA02, and our committed team," stated Dr. Deborah Birx, Chief Executive Officer of Armata. "This financing will enable Armata to readout its Phase 1b/2a trial in acute Staphylococcus aureus bacteremia, which represents the first clinical trial for AP-SA02, and to prepare the Company for an end-of-Phase 2 meeting with the FDA in support of further clinical inquiry including a potential pivotal trial. I would like to thank the Innoviva team for their continued support. We are continuing to pursue additional sources of funding, including non-dilutive sources, to support our late-stage clinical trials." The secured credit agreement provides for a secured term loan facility in an aggregate amount of $10 million at an interest rate of 14.0% per annum with a maturity date of March 12, 2026. The Company and Innoviva also entered into amendments to the three credit and security agreements previously entered into, in order to, among other things, extend the maturity dates under such agreements to March 12, 2026. About Armata Pharmaceuticals, Inc. Armata is a clinical-stage biotechnology company focused on the development of high-purity pathogen-specific bacteriophage therapeutics for the treatment of antibiotic-resistant and difficult-to-treat bacterial infections using its proprietary bacteriophage-based technology. Armata is developing and advancing a broad pipeline of natural and synthetic phage candidates, including clinical candidates for Pseudomonas aeruginosa, Staphylococcus aureus, and other pathogens. Armata is committed to advancing phage therapy with drug development expertise that spans bench to clinic including in-house phage-specific cGMP manufacturing to support full commercialization. Forward Looking Statements This communication contains "forward-looking" statements as defined by the Private Securities Litigation Reform Act of 1995. These statements relate to future events, results or to Armata's future financial performance and involve known and unknown risks, uncertainties and other factors which may cause Armata's actual results, performance or events to be materially different from any future results, performance or events expressed or implied by the forward-looking statements. In some cases, you can identify these statements by terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "would" or the negative of those terms, and similar expressions. These forward-looking statements reflect management's beliefs and views with respect to future events and are based on estimates and assumptions as of the date of this communication and are subject to risks and uncertainties including risks related to Armata's development of bacteriophage-based therapies; ability to staff and maintain its production facilities under fully compliant current Good Manufacturing Practices; ability to meet anticipated milestones in the development and testing of the relevant product; ability to be a leader in the development of phage-based therapeutics; ability to achieve its vision, including improvements through engineering and success of clinical trials; ability to successfully complete preclinical and clinical development of, and obtain regulatory approval of its product candidates and commercialize any approved products on its expected timeframes or at all; and Armata's estimates regarding anticipated operating losses, capital requirements and needs for additional funds. Additional risks and uncertainties relating to Armata and its business can be found under the caption "Risk Factors" and elsewhere in Armata's filings and reports with the SEC, including in Armata's Annual Report on Form 10-K, filed with the SEC on March 21, 2024, and in its subsequent filings with the SEC. Armata expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Armata's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. Media Contacts: At Armata:Pierre KymeArmata Pharmaceuticals, x234 Investor Relations:Joyce AllaireLifeSci Advisors, LLCjallaire@ View original content to download multimedia: SOURCE Armata Pharmaceuticals, Inc. Sign in to access your portfolio
Yahoo
11-03-2025
- Business
- Yahoo
Armata Pharmaceuticals Announces that CEO Dr. Deborah Birx Will Deliver a Presentation at the 7th Annual Bacteriophage Therapy Summit
LOS ANGELES, March 11, 2025 /PRNewswire/ -- Armata Pharmaceuticals, Inc. (NYSE American: ARMP) ("Armata" or the "Company"), a clinical-stage biotechnology company focused on the development of high-purity pathogen-specific bacteriophage therapeutics for the treatment of antibiotic-resistant and difficult-to-treat bacterial infections, today announced that Dr. Deborah Birx, Chief Executive Officer, will deliver a presentation at 9:00am ET on Thursday, March 13, 2025 at the 7th Annual Bacteriophage Therapy Summit, being held in Boston, MA. For more information: About Armata Pharmaceuticals, Inc. Armata is a clinical-stage biotechnology company focused on the development of pathogen-specific bacteriophage therapeutics for the treatment of antibiotic-resistant and difficult-to-treat bacterial infections using its proprietary bacteriophage-based technology. Armata is developing and advancing a broad pipeline of natural and synthetic phage candidates, including clinical candidates for Pseudomonas aeruginosa, Staphylococcus aureus, and other pathogens. Armata is committed to advancing phage therapy with drug development expertise that spans bench to clinic, including in-house phage-specific cGMP manufacturing to support full commercialization. Media Contacts: At Armata:Pierre KymeArmata Pharmaceuticals, x234 Investor Relations:Joyce AllaireLifeSci Advisors, LLCjallaire@ View original content to download multimedia: SOURCE Armata Pharmaceuticals, Inc. Sign in to access your portfolio
Yahoo
06-02-2025
- Politics
- Yahoo
Russia's space chief Borisov dismissed amid program failures
Russian President Vladimir Putin dismissed Yury Borisov as CEO of the state space corporation Roscosmos, the Kremlin's official website announced on Feb. 6. Borisov's removal allegedly stems from uncertainty over the costs and implementation of the National Space Center project in Moscow, according to Russian media outlet RBC. Borisov was appointed as Roscosmos chief in July 2022, succeeding Dmitry Rogozin. His tenure saw a decline in launches, with 19 in 2023 — three fewer than in 2022. Launches fell by 25% from pre-war 2021 and nearly halved compared to the early 2000s. Before leading Roscosmos, Borisov played a key role in Russia's military-industrial sector, overseeing the state rearmament program since 2011. As deputy chairman of the Military Industrial Commission, then-deputy defense minister, and later deputy prime minister, he was responsible for funneling 2 trillion rubles ($20.5 billion) annually into the defense industry. Under his leadership, Russia had pledged to produce divisions of new Armata tanks, a next-generation strategic bomber, 600 aircraft, and thousands of helicopters by 2020, while increasing the share of modern weapons in the military to 70%. The full-scale invasion of Ukraine in 2022 exposed shortcomings in Russia's defense industry, with its forces relying heavily on aging Soviet-era equipment. Borisov also admitted that Roscosmos had failed to meet its 2023 state launch plan, adding to concerns over Russia's declining space capabilities amid economic strain and Western sanctions. Read also: Ukraine launches new offensive in Kursk Oblast, Russian media claims, Kyiv yet to confirm We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
