Replies to post #774 on Armata Pharmaceuticals, Inc. (ARMP)

[Rogerthat1]

Yep saw the news. Thanks for sharing

[BoneUp]

They didn't exercise options. They were issued MORE options in exchange for giving up their severence packages as perperation for a "wind-down" event:
Per the 8-K filed 4/4: Each of the offer letter amendments provides for a waiver by the applicable Executive of the severance benefits such Executive is otherwise entitled to in connection with a qualifying termination in the event such qualifying termination occurs in connection with a wind-down event at any time
In addition, IF they raise $4M, they will receive additional cash bonuses...basically raising money to pay themselves not advance research. This makes any financing even MORE dilutive.
Poor leadership. Unfortunate that the phage opportunity is represented by these people.