Armata Pharmaceuticals, Inc. (ARMP)

In August 2025, Armata Pharmaceuticals surpassed Q2 revenue estimates and secured a $15 million credit agreement with Innoviva. In October 2025, positive Phase 2a clinical trial results for AP-SA02 led to a surge in the stock price. In November 2025, the company commissioned its cGMP phage manufacturing facility and reported Q3 earnings that missed analyst estimates. In January 2026, Jones Trading initiated coverage with a "Buy" rating, and the FDA agreed to advance AP-SA02 to a Phase 3 clinical study.

The demand for Armata Pharmaceuticals' products is primarily driven by medical need, disease prevalence, and the success of its clinical development programs and regulatory approvals. There is no indication of typical consumer-driven demand seasonality. The progression of its drug candidates through clinical trials and eventual market approval will be the primary determinants of demand.

Armata Pharmaceuticals is a clinical-stage biotechnology company focused on developing bacteriophage therapeutics to combat antibiotic-resistant bacterial infections. The company utilizes its proprietary bacteriophage-based technology to develop a pipeline of phage candidates, including AP-PA02 for chronic pulmonary infections, AP-SA02 for Staphylococcus aureus bacteremia, and AP-PA03 for pneumonia. Armata also has a research collaboration agreement with Merck Sharp & Dohme Corp.

Armata Pharmaceuticals is headquartered in Los Angeles, California, and operates a 56,000 square foot facility equipped for phage product development, including cGMP drug manufacturing suites and quality control laboratories. The company focuses on addressing antibiotic-resistant infections worldwide.

Armata Pharmaceuticals' brand reputation has improved due to encouraging clinical trial results, particularly the positive Phase 2a trial results for AP-SA02 in October 2025. The FDA agreement in January 2026 to advance AP-SA02 to Phase 3 further solidified its reputation. However, the company historically lacked stronger brand recognition compared to some competitors.

Innoviva Inc. is the largest shareholder of Armata Pharmaceuticals, holding 68.88% of the total shares. Other major institutional owners include The Vanguard Group, Inc., Geode Capital Management, L.L.C., Edgewood Management LLC, Bridgeway Capital Management Inc., Renaissance Technologies Llc, SeaCrest Wealth Management, Llc, and State Street Corp. Deborah L. Birx, the CEO, is also a significant individual owner.