Company: ARMP
Filing Date: 2025-12-01
Form Type: 424B5
Source: 0001104659-25-117382
Chunk: 43

Company: Armata Pharmaceuticals, Inc.
Filing Date: 2025-12-01
Form: 424B5
Chunk 43
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 chart summarizes the status of our phage product candidate development programs and partners: Risks Associated with Our Business and this Offering Our business and our ability to implement our business strategy are subject to numerous risks, as more fully described in the section of this prospectus entitled “Risk Factors.” You should read these risks before you invest in our securities. We may be unable, for many reasons, including those that are beyond our control, to implement our business strategy. In particular, risks associated with our business include:

| · | There is substantial doubt about our ability                                                                                            
 to continue as a going concern, which may affect our ability to obtain future financing and may require us to curtail our operations.   
 We will need substantial additional financing to develop our product candidates and implement our operating plans, including to support 
 one or more pivotal trials in 2025 and beyond. If we fail to obtain additional financing, we may be delayed or unable to complete the   
 development and commercialization of our product candidates.                                                                            |

| · | We have incurred losses since our inception and                                                                                     
 anticipate that we will continue to incur significant losses for the foreseeable future, and our future profitability is uncertain. |

| · | If we fail to develop and maintain proper and                                                                                         
 effective processes and operating procedures as a non-traditional government contractor, our ability to adhere to the DoD and related 
 entity standards could impact our ongoing and future development financing awards from the U.S. government;                           |

| · | We are seeking to develop antibacterial agents                                                                                              
 using bacteriophage and synthetic phage technology, a novel approach, which makes it difficult to predict the time and cost of development. 
 No bacteriophage products have been approved in the United States or elsewhere.                                                             |

| · | Results from interim, “topline,”                                                                                                           
 and preliminary data, or preclinical studies and Phase 1 or 2 clinical trials of our product candidates or from single-patient expanded    
 access treatments may not be predictive of the results of later stage clinical trials and are subject to audit and verification procedures 
 that could result in material changes in the final data.                                                                                   |

| · | We must continue to develop manufacturing processes                                                                  
 for our product candidates and any delay in or our inability to do so would result in delays in our clinical trials. |

| · | We rely on third parties to conduct our clinical                                                                                      
 trials and to obtain materials or supplies necessary to conduct trials or to manufacture our product candidates, and their failure to 
 perform their obligations in a timely