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The Registration Statement simply makes the maximum number of shares available if Armata chooses to sell them. It may be simply a way to keep their options open and get the potential bad news out up front so it will be built into the pps. It could also mean they have one or more buyers lined up. We'll see. They currently have options outstanding at an exercise price of $8.32/share and warrants at $14.74/share. I would assume they still think those options and warrants will be exercisable.
So much for the "non-dilutive" financing the talked about.
Armata is issuing a new public offering of up to 28,750,000 shares. The Registration Statement (S_1) includes a new Prospectus...
Armata S-1 filing
An 8-K was released recently...
Armata 8-K December 10, 2019
A new board of directors was created and by-laws were amended to include the board.
Not quite inflexible...
FDA Fast Track
rmata's ability to advance its preclinical and clinical programs and the uncertain and time-consuming regulatory approval process
Yep, necessary, yet inflexible to allow those with a lot more clear cut results than others to advance faster and get their treatment to those needing as soon as practical rather than following a hard timeline.
Whats really frustrating about this one is, they appear to have something that works, yet will have to spend years going thru the FDA approval protocols.
Waiting for them to get their PH 1 going and try to get a timeline on how long these trials are going to potentially take...
Good luck if you hold them...
disclaimer: still in watch mode only
Synthetic Genomics, Inc now owns 5.2% of Armata.
ARMP SC 13G
Synthetic Genomics, Inc website
New PR - Message from CEO...
Armata Pharmaceuticals Issues Letter to Shareholders
New filing with updated presentation...
8-K 09/24/2019 - Updated Investor Presentation
In case anyone missed it...
Armata Pharmaceuticals to Participate in the Ladenburg Thalmann 2019 Healthcare Conference
Anyone have any idea why the pps dropped so much the past few days?
New PR out today (also filed as 8-K)...
Armata Pharmaceuticals Announces Development of New Synthetic Phage Candidate Targeting Pseudomonas aeruginosa
agree on the low share count and even minor activity having a big impact on the price. Its already happening, chart shows it...
And further, if it wasn't for the promise and potential impact on society, I wouldn't even be wasting my time following this one.
BUT, they are like many a baby bio getting started also:
-in debt already
-limited cash on hand
-facing a big fiscal load to fund the trials
-high probability of secondaries to pay for the bills associated with the trials.
-and time to complete the trials
that said, based on their usage in the 'expanded access' program, they show a high degree of promise in terms of achieving what they seek to do. But and I have said it before, I wouldn't mind paying a lot less per share to stimulate buying and holding. Hell, at $4/sh, they are a price I wouldn't pay even after a successful phase 1... not with 3-4 years of potentially more holding to go thru..
that said, I have a baby miner about to go into production IF they get their permits (and the odds favor it happening).. that I am paying 10 cents/sh for (with the expectation that on permitting, they head for a $)
I have another baby bio halfway thru their ph 3, results from the PH 2 look good.. But what they are attempting to bring to market has a limited market, as such, there isn't a lot of interest in the company, so they have recently dropped to 25 cents/sh. I am looking at getting some of them at this price level, looking for a $ as approval approaches (1 1/2 years to go)
and have another one that I bought into at 30 cents/sh, that has run up to $1.6/sh and is working on getting their NDA submitted to the FDA for approval. And this one has a demand for their product, but could be up to a year before the FDA decision day takes place..
so to close, I don't mind buying and holding, but I don't like paying too much for something this far out.. But will continue to monitor cause one day, I will buy some if the PH 1/2 trial is completed successfully..
There are two observations that I would caution you about regarding your analysis.
First, ARMP has an extraordinarily low OS. As of June 30, there were only 5,069,633 shares outstanding. Anyone buying or selling a few hundred shares on any given day can substantially change the pps which should make this stock very volatile. It seems currently like those who've decided, like you, that it will be awhile before Armata becomes profitable, have already sold their shares. I suspect that the remaining shareholders are more willing to wait long term which will put upward pressure on the pps until or unless we hit a recession or major market sell off which leads to margin selling.
Second, we are looking at a life saving technology not a simple arthritis cream. Phage therapy has already proven itself in small unofficial trials. There will be extreme pressure on the FDA to approve early distribution if the preliminary results show as much effectiveness as the early trials.
TOP OF PAGE 21 SPEAKS VOLUMES AND WHY I AM GOING TO BE PATIENT:
SOMETHING LIKE $16 MIL IN CASH ON HAND (EARLIER PAGE IN THE DOC)
$146 MIL IN DEBT NOW
EXPECTING TO LOSE MONEY FOR THE NEXT 'SEVERAL' YEARS
AND WE KNOW CLINICAL TRIALS COST MONEY AND TIME (YEARS) TO EXECUTE
TO SUM IT UP, ONE HAS TO ANTICIPATE SECONDARY'S TO RAISE CASH, BRIDGE LOANS POSSIBLY BEING USED...
DISCLOSURE: OWN NONE, BUT WILL ONE DAY IF THEY CONTINUE TO MAKE PROGRESS ON THEIR TRIALS... CURRENTLY PLAYING CRMD AS MY BABY BIO, ANTICIPATING A FDA DECISION ON A MUCH needed product to reduce infections, but not for up to a year... That may result in that one wrapping up around the time ARMP gives me a reason to be a buyer... so will lurk until then... Good luck..
THEIR FIRST PHASE 1 STILL BEING DEVELOPED, MIGHT COMMENCE BY THE END OF THE YEAR AT BEST??
NOT SURE WHY, BUT THEIR CHART SHOWED A BUY SIGNAL THE LAST TRADING DAY IN JULY WITH THE PRICE AROUND $3.50...
BUT I HAVEN'T BITTEN ON ANYMORE POST THE MERGER..
GOING TO BE PATIENT AND LET THE TRIALS BEGIN FIRST, SEE HOW LONG THE CASH ON HAND LASTS...
THIS IS A NEEDED EFFORT.. TOO BAD THESE THINGS TAKE SO LONG TO GET THRU THE DAMN TRIALS..
Quarterly Financials have been posted...
2FQ 2019 Financials 10-Q
New Investor Presentation from Armata...
Armata Pharmaceuticals (ARMP) Presents At Canaccord Genuity 39th Growth Conference - Slideshow
Rather interesting since there's a really good story to tell here and management has been pretty silent for a while. I suspect once we start seeing clinical trial results and more investors pay attention, the pps will spike hard.
trading volume is confirming a 'lack of interest' at the moment.
Not surprised. But one to not forget about either...
PH 1/2 trial anticipated completion date is??
waiting to see that clinical trial link...
going to be interesting to see how long this trial takes to complete... cause then there is an even longer PH 3 to go thru..
but given how much it can move on low volume?? Might have to start actively trading it once I get a pattern on its movements developed.
New Investor Presentation out today...
June 24, 2019 8-K Investor Presentation
I think this is way undervalued. Anything under $3 is a steal...
Benzinga's Top Upgrades, Downgrades For June 19, 2019
someone is working hard to keep this at $3/sh..
this morn, looks 'strong' up 27 cents/sh, until one realizes the volume traded is less than 20000 shares
boy would this be a great buy under a $/sh....
disclaimer: don't own any at the moment, last sold around $4.2x (30 cents or so pre r/split)...
ah, that explains what happened to the 'new' board...
On the clinical trials, if I am reading what I see on their website, they are looking at commencing the 1/2 'later' this year??
This would imply that mid 2020 before any data is released(?)...
Does anyone know if there is anything else in development that could possibly see a revenue stream before mid 2020??
disclaimer: still own none, going to be really patient at this price level and the timeline I see at the moment..
and whats sad is, the health care system NEEDS what they are doing NOW...
iHub screwed up and temporarily created a new board but after I pointed out the error they corrected it. We're back to the old Ampliphi board with a the new post merger Armata label.
Thanks for the notice.
new board is 'up'...
Been pretty busy, so just catching up on the share price activity...
Not surprised except that with all of the high 'over priced' bios and others out there to short, are shorts really picking on this one or is it folks bailing out post the reverse split selloff? Which of course, aids in further selling while buyers like myself are hesitating??
Going forward, focus is going to be on the pending trials. I need to figure out how long they are going to run. This takes a year for the PH 1/2 to wrap up, this could be a lot cheaper..
Hate r/splits that occur when its not tied to new revenue streams coming on line....
disclaimer: shifting to the new board ARMP, being patient as a buyer of a new position for a bottom to confirm... and dealing with something similar in CRMD which did a r/split at the wrong time. But at least there is the expectation of major news for its FDA applicant... to draw in new buyers...
Looks like the insiders held back news so they could get their warrants at $3.15/share. Looks like that's where our bottom is. I still expect we'll be trading above $5/share within a few weeks. I'm sure the Delta Dental companies did their DD and can feel comfortable with their purchase. Still some major announcements coming down the pike.
Here's the PR. PPS is up $.92 so far pre-market...
Armata Pharmaceuticals Announces Publication of Successful Adjunctive Phage Treatment in Cystic Fibrosis Patient
was setting up nice for a buy, looking like $3 might hold and then the news pushing it up 40% in the pre market...
somethings you just don't see coming like this..
for those with a position, enjoy...
disclaimer: was preparing to start adding post the r/split, but didnt get there
It seems there are still some loose ends from the merger. The name change hasn't yet appeared on FINRA's daily list (consequently our board name hasn't changed yet). Also, OTC Markets hasn't updated the share structure yet.
From viewing the latest ownership filings...
May 21, 2019 SC 13D
...the company has 9,960,078 shares outstanding as of May 9, 2019. Delta Dental of Michigan owns or controls 2,531,604? shares or 25.4% of the company while Delta Dental of Wisconsin owns or controls 2,107,675 shares or 21.2%. That's 46.6% control via Delta Dental companies. There also seems to be an ownership interest by Delta Dental of South Dakota and Delta Dental of California although I haven't yet been able to pin that down. Wisconsin and Michigan bought in at $5.04/share after the merger and are unlikely to sell at less than that or for the foreseeable future (there's a 180 day lock).
Given the institutional ownership of C3J prior to the merger and ownership by management and other insiders, it's unlikely that there are more than about 2 or 3 million shares in the float. This is why the volume is so light.
My question is why there is such a heavy interest from Delta Dental. The only thing I can figure is that they must feel that there is potential for some sort of cavity fighting antibiotic formula. The question then becomes, are they trying to suppress this as a threat to their business or are they looking at this as a profitable future investment. Could Merck's interest also be for some cavity fighting mechanism? JMO
volume is sub - anemic... 7 minutes out of the first 40 minutes had 'at least one trade' take place...
Thats actually not a bad thing from the aspect of, at least those that own, are for the better part, currently holding on..
disclaimer: looking for that 'base' to develop before I start to nibble... (22 cents pre=split now).. own none
and on a side note: know 3 people now that have had joint replacements develop a nasty infection requiring the joints removal in 2 cases, the 3rd individual passed away from a combination of complications involving an infection. The latest one just had his joint removed, the infection 'cleaned out' and on a heavy anti-bio routine... Looking at 4-6 months before a replacement will be considered... So yeah, there is a lot of value in this one, especially since they have some experience thru the expanded access program the FDA is now allowing...
PS: any feedback on when the new board will be 'authorized'??
We'll see. Shares rose to over $6/share after the RS was announced. I've said there would be a psychological correction and it's just recently fallen back to the pre-announce levels. There are still a lot of odd lots (under 100 shares) trading which indicates to me that people are selling off small lots or rounding up. This puts downward pressure on the pps. I don't think the dust has completely settled yet. Moreover, we haven't heard peep from the company since the merger. I'm expecting a big announcement about Merck in the near future.
I still expect the price to go down due to the reverse split.. the reason is simple, for this specific point in time (not what MIGHT BE), they have nothing to sell, nothing close to being ready to sell and they are priced as if they got something closer to getting ready to go than just getting started.
See I don't get wrapped up in the 'cash on hand', future potential when a company is in this stage. Now now saying the market and some others aren't willing to pay $5/sh right now, but not me... There is one that I hold that was going for $9/sh a few years before the phase 3 even started.. I bought a bunch of it shortly after the ph 3 started for under 30 cents/sh. All those that paid much higher kept arguing that the market had it 'wrong' that it was worth more than 30 cents. Kept trying to tell them, it may be, but the market doesn't care what you think, for its at 30 cents...
Same here, with time, we will know where the market bottoms this one out.. IF it holds above $3, I will be surprised (for reasons that have nothing to do with cash on hand, what it might be worth after an interim readout on a phase 3)...
So we will see. Might be surprised, might be a lot more willing to pay $3+ than I anticipated, or a lot less than you did... Market will let us know..
But, at least this phase is closed out and we will see a low price determined... and I can then decide how I want to start participating again.. Just wished we have more clarity on the timelines for the PH 1 to complete, ph 2, etc. Cause I'm a thinking the ph 1 (and will it be a combined ph 1/2 trial??) will take 6 months minimum to run/data scrub...
and since its pretty much a 'yes or no' outcome, could they get away with just a ph 1/2 trial due to the need for what they are trying to do?
so the r/split was 1-14... And see that since the r/split, what I expected to see has happened. WIthout a product to sell, without a trial in progress...
Hard to see the share price hold up after a r/split this far out.
Oh well, being patient to see where the share price bottoms out at... got some time before an announcement that the P1 trial has commenced.
disclaimer: own none, at $3.41, its down to 24 cents/sh pre r/split now...
Note: got another CRMD that pulled off a r/split for 'reasons' that I can agree with, but lousy timing. Too bad they hadn't held off until after the pending FDA decision on whether or not their NDA can move forward. Gave the shorts an opening and they struck. Cause what was almost $2, shot up to around $10 on the split, and by all appearances, is way overvalued for its current status.. And yep the shorts hit. At least I sold out, and bought back lower after they did some damage to the share price..
hate to say it, but wouldn't surprise me if this drops to $2/sh given where its at in its development... (14 cents pre split)...
Armata is publishing an updated corporate presentation...
Armata Pharmaceuticals 5/14/2019 8-K
interesting changes here. its interesting to be listed on a major exchange for a change with one of these pinksheets.
I've applied to change the board's name/symbol. It should be approved shortly.
Very low volume trading today (only 82,000 shares so far). Mostly rounding as I said before. People are waiting for the dust to settle. I expect the pps will head back to roughly $5.04/share or more within the next few weeks. This was the pre-merger valuation of the two companies combined book value. We've yet to hear who their new partner is (including revenue projections from their deal) or what the updated OS will be (including the additional $10 million private placement).
Interesting trading this morning. People are rounding their odd lot RS quantities (e.g. if you ended up with 2,037 shares you sell 37 shares or if you end up with 1,194 shares you buy 6 shares, etc).
Here's the announcement...
AmpliPhi Biosciences Announces Stockholder Approval of Business Combination with C3J Therapeutics
Gotta have some serious faith in the merger, or money you don't care about to ride out the 1-14 RS post merger completion. JMO
Is it asking too much for traders to realize that the Company/Tutes hold the stock at the PPS they want pre market and after hours? I guess I've been around too long at this point. Case in point... Ever watched a stock trade right before a Finra notification of delisting, BK or RS? It trades as if the sky is blue and the birds are singing.. Ask yourself why!
Very easy to have a pre funded outsider hold the PPS up whenever they want....think mcfly!
* * $APHB Video Chart 05-08-2019 * *
Link to Video - click here to watch the technical chart video
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A new medical research center in San Diego is embracing an innovative way to treat antibiotic resistant infections called bacteriophage therapy—phage therapy for short—which uses viruses as weapons against hard-to-treat infections.
Antibiotic-resistant infections are part of a growing global health problem. Each year in the United States, at least two million people contract drug-resistant infections, and 23,000 die from those illnesses. Bacteria naturally grow resistant to the drugs used to treat them, and for people with especially tough infections that aren’t responding to the usual medications, the options are limited...
...Phages are ubiquitous viruses—there are more of them than any other organism in the world—that fight bacteria. They do this by injecting their DNA into bacteria cells, where they rapidly replicate and cause bacteria to burst and die. For the most part, each phage strain attacks a specific kind of bacteria, so if scientists harness phages in the right way, they could offer a more personalized approach to treating resistant infections than broad-spectrum antibiotics, which decimate a wide variety of bacteria (including the good strains).
- 13 patients with serious and life-threatening S. aureus infections were treated with AB-SA01 at the Westmead Hospital in Sydney under AmpliPhi’s expanded access program
Patients suffered from severe S. aureus bacteremia and sepsis, including infective endocarditis and prosthetic valve endocarditis
83% (10 out of 12) patients in the modified intent-to-treat (mITT) population achieved treatment success at the end of therapy as reported by treating physicians
Bacteriophage treatment was well tolerated, with no adverse events attributable to the therapy
Proxy Statement Pursuant to Section 14(a) of theTransaction to result in NYSE American-listed company focused on development of precisely-targeted bacteriophage therapeutics
Merger combines AmpliPhi’s extensive phage library and Phase 1/2-ready asset with C3J’s expertise in synthetic phage and broad preclinical pipeline
$10 million to be invested by existing C3J shareholders upon closing
To the Shareholders of AmpliPhi Biosciences Corporation:
You are cordially invited to attend a special meeting of the shareholders of AmpliPhi Biosciences Corporation, a Washington corporation, which we refer to as “we”, “AmpliPhi”, or the “Company”, which will be held at 8:30 a.m., local time, on May 8, 2019, at Cooley LLP, 4401 Eastgate Mall, San Diego, California 92121, unless postponed or adjourned to a later date. This is an important meeting that affects your investment in AmpliPhi.
On January 3, 2019, AmpliPhi and C3J Therapeutics, Inc. (“C3J”) entered into an Agreement and Plan of Merger and Reorganization (as amended, the “Merger Agreement”), pursuant to which Ceres Merger Sub, Inc., a wholly owned subsidiary of AmpliPhi, will merge with and into C3J, with C3J surviving as a wholly owned subsidiary of AmpliPhi, and AmpliPhi common stock will be issued to the former C3J shareholders at the effective time of such merger (the “Merger”). Immediately following the Merger, we anticipate that the securityholders of AmpliPhi as of immediately prior to the Merger will own approximately 30% of the aggregate number of shares of AmpliPhi common stock and the former C3J shareholders will own approximately 70% of the aggregate number of shares of AmpliPhi common stock (in each case on a fully diluted basis but using the treasury stock method and excluding out-of-the-money options and out-of-the-money-warrants, and determined before accounting for the financing transaction discussed below). The Merger has been unanimously approved by the boards of directors of both companies and is expected to close in May 2019, subject to approval of AmpliPhi’s shareholders as well as other customary conditions.
On February 5, 2019, AmpliPhi and C3J entered into share purchase agreements with certain shareholders of C3J (the “Investors”), pursuant to which AmpliPhi will sell, and the Investors have agreed to buy, in a private placement, shares of AmpliPhi common stock immediately following the effective time of the Merger, having an aggregate purchase price of $10.0 million (the “Financing”). The AmpliPhi shares of common stock to be issued in the Financing will be sold at a price per share equal to $40.0 million divided by the total number of shares of AmpliPhi’s common stock outstanding on a fully diluted, as-converted basis, excluding out-of-the-money options, out-of-the-money warrants, shares reserved for issuance under equity incentive plans that are not subject to outstanding awards, and shares issuable in the Financing. Immediately following the closing of the Merger and the Financing, the former C3J securityholders (including the Investors) are expected to own approximately 76% of the aggregate number of shares of AmpliPhi common stock (of which approximately 20% will be represented by the shares issued in the Financing to the Investors) and the securityholders of AmpliPhi as of immediately prior to the Merger are expected to own approximately 24% of the aggregate number of shares of AmpliPhi common stock (on a fully diluted basis but using the treasury stock method and in each case excluding out-of-the-money options and out-of-the-money-warrants). Additionally, given that the calculation of the price of the shares of AmpliPhi common stock to be sold in the Financing is tied to the number of shares outstanding immediately following the effective time of the Merger, the price per share of common stock sold in the Financing could be a discount to the closing price of our common stock as reported on the NYSE American on the execution date of the share purchase agreements for the Financing, February 5, 2019.
At the effective time of the Merger, the officers of AmpliPhi will include Todd R. Patrick, the current chief executive officer of C3J, who will become the chief executive officer of AmpliPhi, replacing Paul C. Grint, M.D., in such capacity, Brian Varnum, Ph.D., the chief development officer of C3J, who will become the president and chief development officer of AmpliPhi, Steve R. Martin, the current chief financial officer of AmpliPhi, who will retain his position as chief financial officer, and Duane Morris, the vice president, operations of C3J, who will become the vice president, operations of AmpliPhi. In addition, each of Louis Drapeau, Paul C. Grint, M.D., Wendy S. Johnson and Vijay Samant will resign from AmpliPhi’s board of directors effective upon the effective time of the Merger, and the designees of C3J pursuant to the Merger Agreement, Richard Bastiani, Ph.D., Richard Bear, H. Stewart Parker, Todd R. Patrick and Joseph M. Patti, Ph.D. will be appointed to fill the vacancies created by the resignations of the current AmpliPhi directors listed above. Following the Merger, the headquarters of AmpliPhi will be located in Marina del Rey, at C3J’s current headquarters.
Shares of AmpliPhi common stock are currently listed on the NYSE American under the symbol “APHB.” Prior to consummation of the Merger, AmpliPhi intends to file an initial listing application with the NYSE American pursuant to NYSE American “change of control” rules. After completion of the Merger, AmpliPhi will be renamed “Armata Pharmaceuticals, Inc.” and expects to trade on the NYSE American under the symbol “ARMP.”
AmpliPhi is holding a special meeting of shareholders (the “Special Meeting”) for the following purposes, as more fully described in the accompanying proxy statement:
1. To approve the consummation of a Business Combination (as defined in AmpliPhi’s amended and restated articles of incorporation) pursuant to the Merger and the issuance of AmpliPhi common stock at the effective time of the Merger, as contemplated by the Merger Agreement;?2. To approve the issuance of shares of AmpliPhi common stock having an aggregate purchase price of $10,000,000 immediately following the effective time of the Merger in a private placement financing transaction, as described in this proxy statement (the “Financing”);?3. To approve an amendment to AmpliPhi’s amended and restated articles of incorporation to effect a Reverse Split of AmpliPhi’s common stock (the “Reverse Split”) at a ratio in the range of between 1-for-3 to 1-for-20, inclusive, with such ratio to be determined in the discretion of AmpliPhi’s board of directors and with such Reverse Split to be effected prior to the effective time of the Merger;?4. To approve an amendment to AmpliPhi’s 2016 Equity Incentive Plan to increase the shares authorized for issuance thereunder by 13,822,963 shares (without giving effect to the Reverse Split) (the “EIP Amendment”);?5. To authorize the adjournment of the Special Meeting in order to permit the solicitation of additional proxies if there are not sufficient votes to approve Proposal Nos. 1 through 4 described above at the time of the Special Meeting; and?6. To transact any other business that may be properly brought before the meeting or any continuation, adjournment or postponement thereof.?After careful consideration, AmpliPhi’s board of directors has determined that the Merger is fair to, and in the best interests of, AmpliPhi and its shareholders, has approved the Merger Agreement, the Merger, the issuance of shares of AmpliPhi common stock to C3J’s shareholders pursuant to the terms of the Merger Agreement and to certain C3J shareholders pursuant to the Financing, the amendment to AmpliPhi’s articles of incorporation to implement the Reverse Split, the EIP Amendment, and the other actions contemplated by the Merger Agreement, and has determined to recommend that the AmpliPhi shareholders vote to approve each of the proposals set forth in this proxy statement. Accordingly, AmpliPhi’s board of directors unanimously recommends that the AmpliPhi shareholders vote FOR each of the Proposal Nos. 1 through 4 described above; and FOR the authorization to adjourn the Special Meeting in order to permit the solicitation of additional proxies if there are not sufficient votes to approve Proposal Nos. 1 through 4 described above at the time of the Special Meeting.
Your vote is very important, regardless of the number of shares you own. Whether or not you expect to attend the Special Meeting in person, please complete, date, sign and promptly return the accompanying proxy card in the enclosed postage paid envelope to ensure that your shares will be represented and voted at the Special Meeting.
More information about AmpliPhi, C3J and the proposed transactions is contained in this proxy statement. AmpliPhi urges you to read the accompanying proxy statement carefully and in its entirety. IN PARTICULAR, YOU SHOULD CAREFULLY CONSIDER THE MATTERS DISCUSSED UNDER “ RISK FACTORS ” BEGINNING ON PAGE 24 .
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