Armata Pharma rises after $5 mln award to support drug development

Armata Pharmaceuticals

18/03/2020 17:09

** Shares of drug developer  ARMP.A  rise 11% to $2.95
    ** Non-profit foundation awards ARMP $5 mln for a mid-stage
clinical trial of its lead experimental drug, AP-PA02, to treat
respiratory infections in patients with cystic fibrosis
 urn:newsml:reuters.com:*:nPn6fk4bva
    ** Cystic fibrosis is a progressive, genetic disease that
causes damage to lungs
    ** Shares rose to $5.9 on Jan. 28 after company entered
securities purchase agreement with drug developer Innoviva
 INVA.O ; INVA agreed to buy ~$25 mln of ARMP's common stock and
warrants
    ** ARMP down ~9% YTD

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))