The capital, facilitated by the Medical Technology Enterprise Consortium under the Naval Medical Research Command, focuses on accelerating the company's clinical candidate, AP-SA02. This drug is intended as an adjunct therapy for severe Staph infections, and the new infusion will specifically support efforts to achieve Phase 3 readiness. Following the announcement, the stock reached $7.21, extending a positive trend that saw the company’s valuation climb 9% throughout the current year.
In section Market Quotes
Armata Pharmaceuticals Gains $2.5 Million Pentagon Grant
A fresh $2.5 million injection from a Pentagon-managed grant has pushed Armata Pharmaceuticals shares up by 5% in premarket trading. The funding, which brings the company’s total award to $28.7 million, is earmarked for the final stages of development for a specialized treatment targeting complicated Staphylococcus aureus bacteremia.
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