SUBSEQUENT EVENTS	12 Months Ended
Dec. 31, 2020
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	11. SUBSEQUENT EVENTS On January 26, 2021, we entered into a securities purchase agreement with Armata to acquire approximately $20 million in Armata common stock and warrants in two tranches. The first tranche consisting of approximately 1.9 million shares of common stock and warrants to purchase an equal number of shares of common stock for an aggregate purchase price of $6.1 million was consummated simultaneously with the execution of the agreement. The second tranche consisting of approximately 4.3 million shares of common stock and warrants to purchase an equal number of shares of common stock for an aggregate purchase price of $13.9 million will be consummated upon satisfaction of certain closing conditions, which is expected to occur in the first quarter of 2021. The investment is to support Armata’s ongoing advancement of its bacteriophage development programs, including its FDA cleared first-in-human study, SWARM-P.a., which is evaluating its lead phage product candidate, AP-PA02, as a potential treatment for Pseudomonas aeruginosa airway infections in cystic fibrosis patients. In addition, Armata expects to initiate a second clinical trial related to another product candidate, AP-SA02, a phage targeting Staphylococcus aureus, in patients with complicated bacteremia later this year.

SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2020

11. SUBSEQUENT EVENTS

On January 26, 2021, we entered into a securities purchase agreement with Armata to acquire approximately $20 million in Armata common stock and warrants in two tranches. The first tranche consisting of approximately 1.9 million shares of common stock and warrants to purchase an equal number of shares of common stock for an aggregate purchase price of $6.1 million was consummated simultaneously with the execution of the agreement. The second tranche consisting of approximately 4.3 million shares of common stock and warrants to purchase an equal number of shares of common stock for an aggregate purchase price of $13.9 million will be consummated upon satisfaction of certain closing conditions, which is expected to occur in the first quarter of 2021. The investment is to support Armata’s ongoing advancement of its bacteriophage development programs, including its FDA cleared first-in-human study, SWARM-P.a., which is evaluating its lead phage product candidate, AP-PA02, as a potential treatment for Pseudomonas aeruginosa airway infections in cystic fibrosis patients. In addition, Armata expects to initiate a second clinical trial related to another product candidate, AP-SA02, a phage targeting Staphylococcus aureus, in patients with complicated bacteremia later this year.