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Armata Pharmaceuticals Announces Closing of $30 Million Secured Convertible Credit Agreement with Innoviva Strategic Opportunities LLC - Innoviva (NASDAQ:INVA), Armata Pharmaceuticals (AMEX:ARMP)

Summary by Ground News
The gross proceeds to the Company from the transaction are $30 million, before deducting estimated transaction-related expenses payable by the Company. Armata intends to use the net proceeds from this transaction to continue clinical development of AP-PA02 and AP-SA02. These funds will finance the completion of an advanced biologics cGMP manufacturing facility with the technology to support production of complex multi- component phage therapeutics.
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