Earnings Releases·Nov 12, 2026, 4:24 PM ET

Armata Pharmaceuticals — Third Quarter 2026 Earnings Summary

Reported net income of $54.9 million ($1.15 per share) for Q3 2026, a significant turnaround from a $26.7 million net loss in the prior year period, primarily driven by a $69.6 million gain on the change in fair value of the convertible loan.
Revenue from grants and awards increased to $3.2 million from $1.2 million year-over-year, while operating losses narrowed to $7.4 million from $7.8 million; however, total current liabilities rose sharply to $186.8 million as of September 30, 2026, compared to $8.9 million at year-end 2025.
The pivotal Phase 3 superiority study for AP-SA02 is expected to initiate in the second half of 2026, pending FDA concurrence, with clinical trial material production and cGMP manufacturing runs already underway.
Secured an additional $3.7 million in non-dilutive funding from the U.S. Department of War, bringing cumulative DoW funding to approximately $32.4 million, and received two new U.S. patents protecting treatment methods for S. aureus and Pseudomonas infections.