Armata Pharmaceuticals, Inc. · AMEX:ARMP
Armata Pharmaceuticals — Investor Presentation (September 2026)
52 slides from Armata Pharmaceuticals's investor presentation, Sep 14, 2026
Slide 1: Corporate Presentation
Corporate Presentation September 14, 2026 NYSE American: ARMP
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains “forward-looking” statements that involve risks, uncertainties and assumptions. If the risks or uncertainties materialize or the assumptions prove incorrect, our results may differ materially from those expressed or implied by such forward-lookin
Slide 3: Armata Highlights
Armata Highlights A leading developer of high-purity, high titer, pathogen-specific phage therapeutics: Harnessing significant • Potential alternative to antibiotics – effective while protecting normal human microbiome advantages of phage- • Activity independent of antibiotic resistance, providing c
Slide 4: Phages Are a Novel Biologic Anti-Infective with Distinct MOA from Antibiotics
PHAGE ADVANTAGES Phages Are a Novel Biologic Anti-Infective with Distinct MOA from Antibiotics and Significant Advantages for the Fight Against AMR Key Advantages of Phage Therapy Novel therapeutic approach addresses increasing antibiotic- induced microbial resistance Phage activity independent of a
Slide 5: State of Phage Development and Approval
PHAGE ADVANTAGES State of Phage Development and Approval CRITICAL: Prove Phage Therapy Works The phage field has focused on compassionate use cases and individualized medicine. Armata is committed to conducting randomized controlled clinical trials that clearly: Armata has the capabilities • Prove t
Slide 6: Consistent Progress on Clinical Programs for Critical Indications
DIVERSIFIED PIPELINE Consistent Progress on Clinical Programs for Critical Indications Phage Evaluation via Randomized-Controlled Clinical Trials Product Indication Stage Partner Latest Clinical Results EOP2 Complete: Phase 2a (diSArm): 100% clinical response rate Advancing to Lead clinical Complica
Slide 7: Delivered on Value-Inflection Milestones
PIPELINE Delivered on Value-Inflection Milestones Positions Both Programs For Pivotal Studies AP-SA02 Advancing to Phase 3 Superiority Study 2H2026 • Acute Staphylococcus aureus infections SAB Phase 2a SAB Phase EOP2 meeting QIDP enrollment 1b/2a topline with FDA Designation • Intravenous route of a
Slide 8: State-of-the-Art Capabilities in Developing and Manufacturing Phage Therapeutics
ARMATA PHAGE EXPERTISE Armata has State-of-the-Art Capabilities in Developing and Manufacturing Phage Therapeutics From Bench to Clinic Discovery 01 • Phage libraries • Pathogen libraries • Synthetic biologists with phage engineering expertise • Computational biology team Preclinical Development 02
Slide 9: Lead Program (AP-SA02) for Staphylococcus aureus
Lead Program (AP-SA02) for Staphylococcus aureus Complicated S. aureus Bacteremia
Slide 10: AP-SA02 with Antibiotic Could Become Early Line Standard of Care in cSAB
AP-SA02 in Combination with Antibiotic has the Potential to Become Early Line Standard of Care in Complicated Staphylococcus aureus Bacteremia • Complicated Staphylococcus aureus bacteremia (SAB) is a serious bloodstream infection with >50,000 annual U.S.-based hospital episodes • Prognosis with com
Slide 11: Lead Program: AP-SA02 for Complicated S. aureus Bacteremia
LEAD PROGRAM Lead Program: AP-SA02 for Complicated S. aureus Bacteremia Phase 1b/2a “diSArm” Study Design Study Conduct ITT: All subjects that received BAT and >1 dose of AP-SA02 or Placebo (BAT only) Phase 1b: Safety and tolerability of multiple intravenous (IV) doses of AP-SA02 Phase 2a: Clinical
Slide 12: Phase 2a Trial Demographics & Infection Site
LEAD PROGRAM Phase 2a Trial Demographics & Infection Site Demographics AP-SA02 (n=31)* Placebo (n=16)** Site of Infections, ITT AP-SA02 Placebo population: (n=29) (n=13) Age (mean) +/- SD 54.8 +/- 14 52.6 +/-12 All patients that received AP-SA02 or placebo n (%) n (%) Sex Male (%) 22(71) 10(62) Sept
Slide 13: Phase 2a Trial BAT Antibiotics
LEAD PROGRAM Phase 2a Trial BAT Antibiotics Antibiotics Used* AP-SA02 (n=29) n (%) Placebo (n=13) n (%) Cefazolin 18 (62) 8 (62) Vancomycin 12 (41) 6 (46) Oxacillin/nafcillin 9 (31) 2(15) Daptomycin 5 (17) 5 (38) Cefepime 2 (7) 1(8) Ceftriaxone 4 (14) 0 (0) BAT = Best available therapy *Some subject
Slide 14: AP-SA02 Phase 2a Met Endpoints and Showed Significant Improvement in Clinical Response
LEAD PROGRAM AP-SA02 Phase 2a Met Endpoints and Showed Statistically Significant Improvement in Clinical Response * Blinded PI, p = 0.047 ** p = 0.02 for Blinded PI & AC PI = Principal Investigator AC = Adjudication Committee TOC = Test of Cure BAT = Best Available Antibiotic Therapy EOS = End of St
Slide 15: Response in Subjects With MRSA
LEAD PROGRAM Response in Subjects With MRSA Cleared Infection, No Evidence of Relapse MRSA MSSA TOC (Day12) Post-BAT EOS TOC (Day12) Post-BAT EOS 100 100 90 90 80 80 70 70 60 Percent 60 Percent 50 50 40 40 30 30 20 20 10 10 0 0 ) ) ) 6) 5) 5) =7 =5 =5 ) ) ) ) ) ) =8 =6 =5 =5 =4 =3 =1 =1 =1 (n (n (n
Slide 16: Sensitivity Analysis of Missing Data
LEAD PROGRAM Sensitivity Analysis of Missing Data Conservative Data Handling Inflates Failure Rates in Both Arms to Greater Than Found in Other SAB Studies but Preserves the Active Arm Advantage • Missing data (discontinuation, lost to follow up, etc.) counted as non-responder Failure Rates in Previ
Slide 17: Sensitivity Analysis of Missing Data
LEAD PROGRAM Sensitivity Analysis of Missing Data Optimistic Data Handling Improves Failure Rates in Both Arms & Preserves Active Arm Advantage • Missing data (discontinuation, lost to follow up, etc.) counted as responder Optimistic Analysis Responder Rates Responder Non-responder Total % Responder
Slide 18: AP-SA02 Showed Positive Clinical Trends Including Reduction of Hospital Stays
LEAD PROGRAM AP-SA02 Showed Positive Clinical Trends Including Reduction of Hospital Stays By 1 Week Clinical Trends AP-SA02 Placebo Time to hospital discharge: Mean Day (n) 11.7 (26) 19.2 (13) Time to initial SAB resolution: Mean Day (n ) 2.7 (25) 9.3 (12) Mean CRP Day 12 mg/L (n) 50.2 (26) 97.3 (1
Slide 19: AP-SA02 Was Shown To Be Well Tolerated
LEAD PROGRAM AP-SA02 Was Shown To Be Well Tolerated AP-SA02 vs. Placebo: Safety & Tolerability (N=50) Phase 1b Uncomplicated SAB Phase 2a Complicated SAB AP-SA02 (N=6) Placebo (N=2) AP-SA02 (N=29) Placebo (N=13) n (%) n (%) n (%) n (%) Any adverse events (AEs) 6 (100) 2 (100) 19 (66) 12 (92) Any tre
Slide 20: Evidence of AP-SA02 in vivo Amplification With Active S. aureus Bacteremia
LEAD PROGRAM Evidence of AP-SA02 in vivo Amplification With Active S. aureus Bacteremia Ph2 PK Data Suggests AP-SA02 is Active and Warrants Further Investigation in a Ph3 Trial • Retention of AP-SA02 phage activity from blood samples collected post dosing • The fact that we can find phage means this
Slide 21: Evidence of AP-SA02 Amplification Observed Upon Dose Escalation
LEAD PROGRAM Evidence of AP-SA02 Amplification Observed Upon Dose Escalation to 5E10 PFU ~50% of Patients Showed Persistence: Associated with Higher Bacterial Burden Clearance y Persistence 1 hour post dosing on d1-d5 8 8 8 Subjects PFU/mL (log10) PFU/mL (log10) PFU/mL (log10) 6 6 6 PP 4 4 4 QQ TT 2
Slide 22: AP-SA02 Binds, Infects, and Lyses Patient Isolates in vitro
LEAD PROGRAM AP-SA02 Binds, Infects, and Lyses Patient Isolates in vitro Genotypic mapping of ARSA0002 Phage Genetic Variants of ARSA0002 Phage More Frequent Less Frequent Variants Variants 1 2 3 1 2 3 Isolate* 01 21 54 57 3 34 4 Isolate 02 16 67 65 3 26 4 Isolate 03 20 58 59 2 29 7 Isolate 04 17 39
Slide 23: Learnings from the Phase 2 Study
LEAD PROGRAM Learnings from the Phase 2 Study Summary Our phages are well-tolerated by repetitive IV push at 5e10 (every 6 hours for 5 days) Demonstrated homing Though injected IV only at one site, the phages homed to the source/site of S. aureus infection – independent of the source/site of i
Slide 24: KOL Webinar: Redefining SoC in Complicated Staph. aureus Bacteremia
LEAD PROGRAM KOL Webinar: Redefining SoC in Complicated Staph. aureus Bacteremia Focus: Armata Pharmaceuticals, With Dr. Vance Fowler, Hosted by Jones Research 24
Slide 25: Key Takeaways from Dr. Fowler
LEAD PROGRAM Key Takeaways from Dr. Fowler cSAB is leading bacterial cause of death globally. Despite poor outcomes, innovation in the space has been limited. Around 33% of patients experience persistent bacteremia and relapse on SoC antibiotics. In Ph2, AP-SA02 (+SoC) produced superior outcome
Slide 26: FDA has Agreed that Phase 2 Results Support Advancing to Phase 3
LEAD PROGRAM FDA has Agreed that Phase 2 Results Support Advancing to Phase 3 26
Slide 27: Proposed Ph3 Design: N=450, 95% power to detect a 15% difference
LEAD PROGRAM Proposed Ph3 Design: N=450 with 300 full 7 days of treatment 95% power to detect a 15% difference at 0.05 alpha • Primary endpoint – Use of Ph2 efficacy endpoint – clinical response1 is resolution of all signs and symptoms associated with bacteremia and negative blood culture – Clinical
Slide 28: Pseudomonas aeruginosa Program
Pseudomonas aeruginosa Program AP-PA02 • Cystic Fibrosis (CF) • Non-CF Bronchiectasis (NCFB) AP-PA03 • Acute Pneumonia (HAP/VAP)
Slide 29: Consistent Progress on Clinical Programs for Critical Indications
DIVERSIFIED PIPELINE Consistent Progress on Clinical Programs for Critical Indications Phage Evaluation via Randomized-Controlled Clinical Trials Product Indication Stage Partner Latest Clinical Results EOP2 Complete: Phase 2a (diSArm): 100% clinical response rate Advancing to Lead clinical Complica
Slide 30: Learnings for SWARM-P.a. Ph1b/2a CF Study: Completed 1Q23
PIPELINE Learnings for SWARM-P.a. Ph1b/2a CF Study: Completed 1Q23 AP-PA02 Well-Tolerated with Consistent Exposures by Dose Learnings Safety and Tolerability for up to 10 days bid dosing • No dose-limiting toxicity • No AEs >Grade 1 attributed to study drug: Grade 1 AEs appear to be intermittent wit
Slide 31: NCFB Phase 2 Tailwind Study: Completed 3Q24
PIPELINE NCFB Phase 2 Tailwind Study: Completed 3Q24 Evaluated AP-PA02 as Monotherapy and in Combination with Inhaled Antibiotics AP-PA02 nebulized q12h x 10 days Subjects dosed at home Started with highest dose from CF study (increased dose 2X after lead in) Evaluated AP-PA02 exposures in c
Slide 32: POST HOC P. aeruginosa Efficacy Data: Significant Reduction in PA CFUs
PIPELINE POST HOC P. aeruginosa Efficacy Data: Significant Reduction in PA CFUs ITT Population Analysis - All 48 Subjects Change in Pa density from Baseline: Treated vs. Placebo* Pa density d24: P=0.015 (baseline vs. each day within each group)** d17: P=0.05 Treated Placebo 4 (p-value) (p-value) 3 B
Slide 33: POST HOC ITT Independent Cohort Analysis
PIPELINE POST HOC ITT Independent Cohort Analysis – Includes All Subjects That Received Any Phage or Placebo AP-PA02 Alone is as Effective as AP-PA02 Plus Antibiotics AP-PA02 Treated (Cohort A or B; All Treated vs. All Placebo)* P=0.06 P=0.66 P=0.09 P=0.44 P=0.07 P=0.16 P=0.02* P=0.09 4 P=0.16 P=0.9
Slide 34: Efficacy Analysis Per SAP
PIPELINE Efficacy Analysis Per SAP (10/48 Subjects Excluded From Analysis) Resulting in Significant Decrease in Power to See Changes; Therefore, Also Ran ITT Analysis Endpoint: Change in CFU at Day 17 Compared to Baseline Subjects Treated with Highest Dose vs. Placebo* Highest Dose = 3E11 PFU Cohort
Slide 35: CMC
CMC
Slide 36: Phage-Specific Drug Manufacturing Capabilities Create Competitive Advantage
WORLD-CLASS CAPABILITIES MANUFACTURING Armata’s Phage-Specific Drug Manufacturing Capabilities Create Significant Competitive Advantage, Clinical Differentiators • 10,000 sq ft of U.S. based in-house cGMP excellence creates competitive advantage for internal pipeline • Achieving high purity levels h
Slide 37: In-House Infrastructure Allows for Commercial Scalability and Alternate Revenue Streams
WORLD-CLASS CAPABILITIES MANUFACTURING In-House Infrastructure Allows for Commercial Scalability and Alternate Revenue Streams State-of-the-art cGMP manufacturing facility • 10,000 square foot purpose-built facility in Los Angeles, California • Essential infrastructure for phage production - Two ind
Slide 38: Armata has cGMP Capacity to Support Ph3 Trials and Commercialization
WORLD-CLASS CAPABILITIES Armata has cGMP Capacity to Support Ph3 Trials and Commercialization 10,000 Square Foot Purpose-Built Clean Room Space at U.S. Headquarters The upstream and downstream suites, flex suite, and filling suite are ISO 7. The Isolator, in which the filling machine sits, is ISO 5
Slide 39: Armata has cGMP Capacity to Support Ph3 Trials and Commercialization
WORLD-CLASS CAPABILITIES Armata has cGMP Capacity to Support Ph3 Trials and Commercialization 10,000 Square Foot Purpose-Built Clean Room Space at U.S. Headquarters High-Throughput Semi-Automated Aseptic Filling Line, Integrated Isolator Two independent production lines with dedicated upstream and d
Slide 40: In-House Quality Control Laboratories
WORLD-CLASS CAPABILITIES In-House Quality Control Laboratories In Readiness For End-of-Phase 2, Phase 3 Operations Analytical testing Environmental monitoring, sample receipt from cGMP manufacturing cGLP QC Lab 1 cGLP QC Lab 2 40
Slide 41: Manufacturing Advances Enable Low COGS Compared to Other Biologics
WORLD-CLASS CAPABILITIES MANUFACTURING Manufacturing Advances Enable Low COGS Compared to Other Biologics Innovations creating proprietary advantages In-house production driving efficiencies • Increased fermentation efficiency 5X with new • Upstream and downstream suites allow multiple proprietary m
Slide 42: Armata's Phage Platform
Armata’s Phage Platform
Slide 43: Industry-leading Phage Development Process Will Lead to Clinical Differentiation
PLATFORM POTENTIAL We Believe Armata’s Industry-leading Phage Development Process Will Lead to Clinical Differentiation and Cost Advantages Phage Development Has Significant Advantages for Efficient and Effective Clinical Programs • Flexible development: ability to modify cocktails both during devel
Slide 44: Staphylococcus aureus Bacteremia Clinical Strategy
Staphylococcus aureus Bacteremia Clinical Strategy Expanding Market and Moving AP-SA02 to Frontline Therapy • First approval of AP-SA02: Phase 3 superiority study for registration in adults with complicated S. aureus bacteremia • Armata is first phage company to advance a clinical candidate to Phase
Slide 45: Platform Has Opportunities to Expand into Adjacent Indications
PLATFORM POTENTIAL Following a First Approval, We Believe Armata’s Platform Has Opportunities to Efficiently Expand into Adjacent Indications Current Programs and Development Strategy Future Opportunities with Unmet Need Expanding indications across 2 key target pathogens: Indications we believe tha
Slide 46: Total Addressable U.S. Market (TAM)
Total Addressable U.S. Market (TAM) Pipeline Addresses Significant Unmet Need & Market Opportunity Across Multiple Indications Chronic treatment Acute treatment Ventilator Non‐Cystic Fibrosis Prosthetic Joint Complicated Cystic Fibrosis Associated Bronchiectasis Infection Bacteremia Pneumonia U.S. A
Slide 47: Corporate Summary
Corporate Summary
Slide 48: Funding and Capitalization
Funding and Capitalization Cash Position • $24.0 million in unrestricted cash and cash equivalents at June 30, 2026 Equity Financings Innoviva and affiliates: $94 million • Q1 2020: $25M private placement of common stock and warrants (Innoviva, Inc.) • Q1 2021: $20M private placement of common stock
Slide 49: Strong Relationships with Partners Supporting Development of Phage Therapy
LEADERSHIP AND PARTNERS Strong Relationships with Partners with Demonstrated Interest in Supporting Development of Phage Therapy Underscores Credibility of Armata’s Clinical Programs Armata Partnerships Future Funding Options $5M Therapeutics Development Award • Government Support: DoD, BARDA, ARPA-
Slide 50: Leadership and Board of Directors
LEADERSHIP AND PARTNERS Leadership and Board of Directors Diverse Public Company Drug Development Expertise Management Deborah Birx, MD Pierre Kyme, PhD David House Peter Hubbard, MBA Bani Tchekanova, PhD Bhaumik Patel CEO CBO CFO VP, Operations Regulatory Strategy & Ops Quality Assurance Board of D
Slide 51: Strong Global IP Position Through Pending and Issued Patents
Strong Global IP Position Through Pending and Issued Patents 15 Patent Families, Long-Life Patents, Patents Granted in all Major Jurisdictions Armata’s patents and applications cover: • Therapeutic phage cocktails (Staphylococcus and Pseudomonas) and uses thereof • Synthetic phage and methods of man
Slide 52: www.armatapharma.com
PURPOSEFUL @ PRECISE POWERFUL www.armatapharma.com
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