Armata Pharmaceuticals, Inc. (ARMP)

[ehihub]

Conclusion
Based on the data shown above, AmpliPhi’s strategic focus appears to be off to a successful start. While the number of patients treated thus far is small, it is very encouraging that six out of seven patients achieved treatment success. Based on these results we have adjusted our model by increasing the probability of approval to 60% for AB-SA01 and AB-PA01 in treating resistant hospital acquired infections.

Our current valuation is $5.00 per share.

However, we believe there is likely to be significant upside to our model once we learn more about what indications the company will be targeting later in 2018 for Phase 2 studies, at which time we may also get a better sense of timelines for approval.