Armata data support advancing AP-SA02 to Phase 3, says H.C. Wainwright

H.C. Wainwright reiterates a Buy rating and $9 price target on Armata Pharmaceuticals (ARMP) after the company shared new data from the recently completed Phase 2a diSArm study in a late-breaking oral presentation at IDWeek 2025. These new in vitro data providing strong evidence for the efficacy of its core therapeutic strategy for AP-SA02, along with the broader dataset, support advancement into a pivotal Phase 3 trial set to begin in 2026, the analyst tells investors.