Armata Pharmaceuticals, Inc. (ARMP) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 13, 2026

Risk Assessment Details

Potential Dilution: 294313.48% of current shares
Recent Dilution: 900.46% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
37K
Potential Supply
110M
Additional shares possible
Splits
None
Past 2 years

Summary

ARMP currently has 36.7K outstanding shares. with significant dilution risk as 108M authorized shares could dilute existing holders by 294313.5%. The company has significantly diluted shareholders by 900.46% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 13, 2026

10-Q filing | 0.0M shares outstanding

37K 110M
Mar 25, 2026

10-K filing | 36.2M shares outstanding

36M 72M
Nov 12, 2025

10-Q filing | 3.6M shares outstanding

3.6M 100M
Aug 12, 2025

10-Q filing | 36.2M shares outstanding

36M 72M
May 14, 2025

10-Q filing | 36.2M shares outstanding

36M 72M
Mar 21, 2025

10-K filing | 36.2M shares outstanding

36M 72M
Nov 13, 2024

10-Q filing | 36.2M shares outstanding

36M 72M
Aug 13, 2024

10-Q filing | 36.2M shares outstanding

36M 72M
May 07, 2024

10-Q filing | 36.1M shares outstanding

36M 72M
Mar 21, 2024

10-K filing | 36.1M shares outstanding

36M 72M
Nov 14, 2023

10-Q filing | 36.1M shares outstanding

36M 72M
Aug 14, 2023

10-Q filing | 36.1M shares outstanding

36M 72M
May 11, 2023

10-Q filing | 36.0M shares outstanding

36M 72M
Mar 28, 2023

S-3/A filing: Resale of common stock issuable upon conversion of a loan by selling shareholder.

36M 72M
Mar 16, 2023

10-K filing | 34.3M shares outstanding

34M 74M
Feb 13, 2023

S-3 filing: This S-3 filing registers 21,315,790 shares of common stock issuable upon conversion of a portion or all of the outstanding principal amount of, and any accrued and unpaid interest on, a loan.

36M 72M
Nov 09, 2022

10-Q filing | 36.0M shares outstanding

36M 51M
Aug 11, 2022

10-Q filing | 36.0M shares outstanding

36M 51M
May 24, 2022

S-3/A filing: This S-3/A filing relates to the disposition of up to 13,500,000 shares of common stock and 4,500,000 warrants to purchase common stock, initially issued pursuant to a Securities Purchase Agreement dated February 9, 2022.

36M 51M
May 16, 2022

S-3 filing: This is an S-3 filing for the resale of 9,000,000 shares of common stock, warrants to purchase 4,500,000 shares of common stock, and 4,500,000 shares of common stock issuable upon the exercise of the warrants.

36M 51M
May 12, 2022

10-Q filing | 36.1M shares outstanding

36M 33M
Mar 31, 2022

8-K filing: Armata Pharmaceuticals completed the second closing of a private placement with Innoviva Strategic Opportunities LLC, issuing shares of common stock and warrants. ($12.2M proceeds)

27M 42M
Mar 29, 2022

S-3 filing: This S-3 filing relates to the resale of up to 2,121,213 shares of common stock initially issued pursuant to a Securities Purchase Agreement dated October 28, 2021, along with information about private placements from 2020-2022.

27M 42M
Mar 17, 2022

10-K filing | 27.1M shares outstanding

27M 14M
Feb 11, 2022

8-K filing: Armata Pharmaceuticals, Inc. completed the first tranche of a private placement with Innoviva Strategic Opportunities LLC, selling 3,614,792 shares of common stock and warrants to purchase 1,807,396 shares for approximately $18.1 million. ($18.1M proceeds)

25M 16M
Nov 10, 2021

10-Q filing | 25.0M shares outstanding

25M 16M
Oct 29, 2021

8-K filing: Armata Pharmaceuticals, Inc. completed a private placement of newly issued shares of its common stock with Innoviva Strategic Opportunities LLC and the Cystic Fibrosis Foundation. ($14.0M proceeds)

25M 16M
Aug 12, 2021

10-Q filing | 24.9M shares outstanding

25M 16M
May 13, 2021

10-Q filing | 24.9M shares outstanding

25M 16M
May 13, 2021

S-3 filing: This prospectus relates to the disposition from time to time of up to (i) 6,153,847 shares of our common stock, $0.01 par value per share, (ii) warrants to purchase 6,153,847 shares of our common stock (the "_Warrants_"), and (iii) 6,153,847 shares of our common stock issuable upon the exercise of the Warrants, that were initially issued pursuant to the Securities Purchase Agreement dated as of January 26, 2021.

25M 16M
Mar 18, 2021

10-K filing | 24.9M shares outstanding

25M 3.4M
Mar 17, 2021

8-K filing: Armata Pharmaceuticals, Inc. completed the second closing of a private placement with Innoviva Strategic Opportunities LLC, involving the issuance of shares of common stock and warrants. ($6.1M proceeds)

19M 9.6M
Jan 27, 2021

8-K filing: Armata Pharmaceuticals, Inc. completed the first tranche of a private placement with Innoviva Strategic Opportunities LLC, selling 1,867,912 shares of common stock and warrants to purchase an equal number of shares at $3.25 per share, for gross proceeds of approximately $6.1 million. ($6.1M proceeds)

19M 9.6M
Nov 12, 2020

10-Q filing | 18.7M shares outstanding

19M 9.6M
Aug 13, 2020

10-Q filing | 18.7M shares outstanding

19M 9.7M
May 14, 2020

10-Q filing | 18.6M shares outstanding

19M 9.7M
Apr 01, 2020

S-3 filing: The filing registers an indeterminate amount of various securities, including common stock, that may be offered from time to time, with an aggregate offering price not to exceed $100,000,000.

11M 17M
Apr 01, 2020

S-3 filing: This prospectus relates to the disposition from time to time of up to (i) 8,710,800 shares of our common stock, $0.001 par value per share, and (ii) 8,710,800 shares of our common stock issuable upon exercise of the warrants for purchase of common stock

11M 17M
Mar 30, 2020

8-K filing: Armata Pharmaceuticals completed the second closing of a private placement with Innoviva, issuing shares of common stock and warrants. ($5.6M proceeds)

11M 0
Mar 19, 2020

10-K filing | 10.9M shares outstanding

11M 0
Feb 13, 2020

8-K filing: Armata Pharmaceuticals, Inc. completed the first closing of a private placement with Innoviva, Inc., issuing 993,139 shares of common stock and warrants for $2.8 million. ($5.6M proceeds)

N/A 0
Jan 30, 2020

RW filing: The company has decided to discontinue the public offering contemplated by the Registration Statement and requests immediate withdrawal due to an alternative financing opportunity.

N/A 0
Jan 29, 2020

8-K filing: Armata Pharmaceuticals, Inc. entered into a securities purchase agreement with Innoviva, Inc. to issue and sell up to 8,710,800 shares of common stock and warrants in a private placement priced at-the-market for gross proceeds of approximately $25.0 million. ($25.0M proceeds)

N/A 0
Jan 09, 2020

S-1/A filing: This S-1/A filing from Armata Pharmaceuticals, Inc. relates to an offering of 5,400,000 shares of common stock, with an underwriter option to purchase up to an additional 810,000 shares.

N/A 5.4M
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