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Armata Pharmaceuticals (Armata Pharmaceuticals) Beneish M-Score : 0.00 (As of Apr. 27, 2024)


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What is Armata Pharmaceuticals Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for Armata Pharmaceuticals's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Armata Pharmaceuticals was 3.14. The lowest was -5.27. And the median was -2.82.


Armata Pharmaceuticals Beneish M-Score Historical Data

The historical data trend for Armata Pharmaceuticals's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Armata Pharmaceuticals Beneish M-Score Chart

Armata Pharmaceuticals Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
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Armata Pharmaceuticals Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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Competitive Comparison of Armata Pharmaceuticals's Beneish M-Score

For the Biotechnology subindustry, Armata Pharmaceuticals's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Armata Pharmaceuticals's Beneish M-Score Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Armata Pharmaceuticals's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Armata Pharmaceuticals's Beneish M-Score falls into.



Armata Pharmaceuticals Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Armata Pharmaceuticals for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec23) TTM:Last Year (Dec22) TTM:
Total Receivables was $3.36 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $19.15 Mil.
Total Assets was $98.36 Mil.
Property, Plant and Equipment(Net PPE) was $57.28 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.97 Mil.
Selling, General, & Admin. Expense(SGA) was $11.65 Mil.
Total Current Liabilities was $16.46 Mil.
Long-Term Debt & Capital Lease Obligation was $110.89 Mil.
Net Income was -19.847 + -31.161 + -3.547 + -14.49 = $-69.05 Mil.
Non Operating Income was -8.886 + -19.696 + 6.036 + -3.162 = $-25.71 Mil.
Cash Flow from Operations was -8.106 + -9.687 + -12.06 + -17.57 = $-47.42 Mil.
Total Receivables was $8.53 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $27.05 Mil.
Total Assets was $95.83 Mil.
Property, Plant and Equipment(Net PPE) was $46.65 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.89 Mil.
Selling, General, & Admin. Expense(SGA) was $7.44 Mil.
Total Current Liabilities was $24.87 Mil.
Long-Term Debt & Capital Lease Obligation was $31.80 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(3.363 / 0) / (8.531 / 0)
= /
=

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(0 / 0) / (0 / 0)
= /
=

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (19.151 + 57.276) / 98.363) / (1 - (27.047 + 46.652) / 95.834)
=0.223011 / 0.230972
=

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=0 / 0
=

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(0.892 / (0.892 + 46.652)) / (0.972 / (0.972 + 57.276))
=0.018762 / 0.016687
=

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(11.65 / 0) / (7.437 / 0)
= /
=

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((110.89 + 16.461) / 98.363) / ((31.804 + 24.873) / 95.834)
=1.294704 / 0.591408
=

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(-69.045 - -25.708 - -47.423) / 98.363
=0.04154

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.


Armata Pharmaceuticals Beneish M-Score Related Terms

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Armata Pharmaceuticals (Armata Pharmaceuticals) Business Description

Traded in Other Exchanges
Address
4503 Glencoe Avenue, Marina del Rey, CA, USA, 90292
Armata Pharmaceuticals Inc is a developer of pathogen-specific bacteriophage therapeutics for the treatment of antibiotic-resistant and difficult-to-treat bacterial infections using its proprietary bacteriophage-based technology. It is developing and advancing a broad pipeline of natural and synthetic phage candidates, including clinical candidates for Pseudomonas aeruginosa, Staphylococcus aureus, and other pathogens. In addition, in collaboration with Merck the company is developing proprietary synthetic phage candidates to target an undisclosed infectious disease agent. Further, the company is committed to advancing phage with drug development expertise that spans bench to clinic including in-house phage specific GMP manufacturing.
Executives
Richard Rychlik officer: Corporate Controller and PFO 5005 MCCONNELL AVENUE, LOS ANGELES CA 90066
Deborah Birx director, officer: Chief Executive Officer 3300 LOWELL STREET NW, WASHINGTON DC 20008
Julianne Averill officer: Chief Financial Officer 361 NEWBURY STREET, SUITE 500, BOSTON MA 02115
Erin Butler officer: Vice President,Finance & Admin 4375 LOMA RIVIERA COURT, SAN DIEGO CA 92110
Theravance Inc director, 10 percent owner 1350 OLD BAYSHORE HIGHWAY, SUITE 400, BURLINGAME CA 94010
Jules Haimovitz director 601 108TH AVENUE NE, SUITE 1200, BELLEVUE WA 98004
Innoviva Strategic Opportunities Llc director, 10 percent owner 1209 ORANGE STREET, WILMINGTON DE 19801
Robin Kramer director 999 VANDERBILT BEACH ROAD, 3RD FLOOR, NAPLES FL 34109
Steven Robert Martin officer: Chief Financial Officer 11011 NORTH TORREY PINES ROAD, LA JOLLA CA 92037
Kostas D Odysseas director 660 STEAMBOAT ROAD, 3RD FLOOR, GREENWICH CT 06830
Sarah J. Schlesinger director C/O ARIAD PHARMACEUTICALS, 26 LANDSDOWNE STREET, CAMBRIDGE MA 02139
Jeremy Curnock Cook director TARGETED GENETICS CORP, 1100 OLIVE WAY STE 100, SEATTLE WA 98101
Michael S Perry director C/O BIOTRANSPLANT INC, 196 BOSTON AVE SUITE 2800, MEDFORD MA 02155
Todd C. Peterson director C/O ARMATA PHARMACEUTICALS, INC., 4503 GLENCOE AVENUE, MARINA DEL REY CA 90292
H Stewart Parker director

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