Armata Pharmaceuticals Announces Fourth Quarter and Full-Year 2022 Results and Provides Corporate Update.

MARINA DEL REY, Calif: Armata Pharmaceuticals, Inc. (NYSE American: ARMP) ("Armata" or the "Company"), a biotechnology company focused on pathogen-specific bacteriophage therapeutics for antibiotic-resistant and difficult-to-treat bacterial infections, today announced financial results for its fourth quarter and full-year 2022, and provided a corporate update.

Fourth Quarter 2022 and Recent Developments:

Announced positive topline results from the SWARM-P.a. Phase 1b/2a clinical trial, which evaluated AP-PA02 in cystic fibrosis patients with chronic pulmonary Pseudomonas aeruginosa infections, supporting progression into Phase 2b;

Announced further clinical progression of AP-PA02 with the first patient dosed in the Phase 2 non-cystic fibrosis bronchiectasis (NCFB) study;

Advanced AP-SA02 with the completion of first cohort dosing in the Phase 1b/2a Staphylococcus aureus bacteremia study;

AP-SA02 prosthetic joint infection study start-up activities continue; and

Closed $30 million convertible credit agreement with Innoviva Strategic Opportunities LLC, a wholly owned subsidiary of Innoviva, Inc., Armata's largest shareholder.

"During the fourth quarter and subsequent period, we made significant progress across multiple programs, highlighted by the announcement of positive topline results from the SWARM-P.a. Phase 1b/2a clinical trial," stated Dr. Brian Varnum, Chief Executive Officer of Armata. "These data demonstrated AP-PA02 to be well tolerated and pharmacokinetics and pharmacodynamics data indicate phage can be dosed in a controllable manner through nebulization. The study design of single ascending and multiple ascending dose exploration served to highlight dose levels and frequency required to achieve target levels of microbial reduction. Exploration of AP-PA02 dose and schedule is continuing in our Phase 2 NCFB study, enabling continuous advancement of AP-PA02 across these related indications. Similarly, in 2023 we anticipate enrolling subjects in our second clinical indication for AP-SA02, namely Staphylococcus aureus prosthetic joint infection, which represents our fourth indication for our two lead programs."

"I am very pleased with what we have accomplished in 2022, and we entered the new year with line-of-sight to data readouts that are essential to advance phage therapy through rigorous clinical trials required to deliver novel treatment options to patients suffering from serious bacterial infections while creating enduring value...

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