Armata Pharmaceuticals | 10-Q: FY2025 Q3 Revenue Misses Estimate at USD 1.159 M

Revenue: As of FY2025 Q3, the actual value is USD 1.159 M, missing the estimate of USD 1.38 M.

EPS: As of FY2025 Q3, the actual value is USD -0.74.

EBIT: As of FY2025 Q3, the actual value is USD -3.52 M.

Grant and Award Revenue: $1.2 million for the three months ended September 30, 2025, compared to $3.0 million for the same period in 2024. For the nine months ended September 30, 2025, revenue was $3.8 million, compared to $3.9 million for the same period in 2024.

Net Loss: $26.7 million for the three months ended September 30, 2025, compared to $5.5 million for the same period in 2024. For the nine months ended September 30, 2025, net loss was $49.5 million, compared to $21.5 million for the same period in 2024.
Research and Development Expenses: $5.8 million for the three months ended September 30, 2025, compared to $9.5 million for the same period in 2024. For the nine months ended September 30, 2025, expenses were $17.6 million, compared to $26.0 million for the same period in 2024.
General and Administrative Expenses: $3.1 million for the three months ended September 30, 2025, compared to $3.2 million for the same period in 2024. For the nine months ended September 30, 2025, expenses were $8.9 million, compared to $9.9 million for the same period in 2024.

Operating Cash Flow: Net cash used in operating activities was $19.1 million for the nine months ended September 30, 2025, compared to $29.6 million for the same period in 2024.
Investing Cash Flow: Net cash used in investing activities was $0.5 million for the nine months ended September 30, 2025, compared to $2.0 million for the same period in 2024.
Financing Cash Flow: Net cash provided by financing activities was $25.0 million for the nine months ended September 30, 2025, compared to $34.9 million for the same period in 2024.

Convertible Loan: Recognized a loss of $14.6 million on the change in fair value of the Convertible Loan for the three months ended September 30, 2025, compared to a gain of $6.9 million for the same period in 2024. For the nine months ended September 30, 2025, recognized a loss of $15.2 million, compared to a gain of $17.3 million for the same period in 2024.

Core Business Focus: Armata Pharmaceuticals plans to advance its lead candidates, AP-PA02 and AP-SA02, into further clinical trials. The company aims to initiate a pivotal Phase 3 trial for AP-SA02 in 2026, subject to FDA review and feedback.
Non-Core Business: The company is exploring potential strategic partnerships to further advance its programs, particularly for AP-PA02 in non-cystic fibrosis bronchiectasis (NCFB).
Priority: Emphasis on securing additional funding through equity offerings, debt financings, or other capital sources to support ongoing and future clinical development activities.