Matinas BioPharma Holdings, Inc. (MTNB) is a leading biopharmaceutical company engaged in the development of products via its unique lipid nanocrystal delivery technology. One of the lead product candidates of the company is LYPDISO used to treat cardiovascular and metabolic disorders. MAT2203 is in Phase 2 trials for the treatment of invasive fungal infections and cryptococcal meningitis HIV-infected patients. MAT2501 is used to treat chronic and acute bacterial infections and nontuberculous mycobacterial lung disease.
The price of MTNB stock during the regular trading on January 10, 2022, with a decline of 1.71% was $0.93. At last check in the aftermarket, the stock climbed by 5.38%.
MTNB: Events and Happenings
On December 16, 2021, MTNB reported about the completion of the review of the third cohort and unanimous recommendation to the final and fourth cohort by the independent Data and Safety Monitoring Board for the company’s EnACT program clinical trials. On November 18, 2021, MTNB reported that the company’s Executives presented at the Virtual 33rd Annual Piper Sandler Healthcare Conference held on November 29-December 2, 2021.
MTNB: Key Financials
On November 08, 2021, MTNB announced its financial results for the third quarter ended September 30, 2021. Some of the key updates are as follows.
Net Loss per Share
Basic and diluted net loss for third-quarter 2021 was $6.8 million, or $0.03 per share as compared to the same period of 2020 when it was $5.7 million, or $0.03 per share.
Total current assets of the company for Q3 2021 were $56.4 million as opposed to the same period of 2020 when it was $65.2 million.
On October 25, 2021, MTNB reported that the company’s Executives presented at B. Riley Fall Growth Biotech Best Ideas Series 2021 held on November 23, 2021. On October 21, 2021, MTNB reported about dosing the preliminary patient in Phase 1 pharmacokinetic study of MAT2501. The enrollment will be completed by the first quarter of 2022, and data is expected in the second quarter of 2022. The company will also start Phase 2 trials in nontuberculous mycobacterial infected patients by the first quarter of 2023.
On September 14, 2021, MTNB reported that the company’s Executives presented at the Virtual 23rd Annual H.C. Wainwright Global Investment Conference held on September 13-15, 2021. On September 13, 2021.MTNB reported positive efficacy and safety data from EnACT of MAT2203 in the two initial batches of the patients. The study was sponsored by the National Institute of Allergy and Infectious Diseases.
MTNB stock is 19% up in comparison to the past six months period owing to the company’s solid investor-oriented strategies. The current aftermarket increase of the stock is the outcome of uncertainty in the market which favored the company’s stock to boom.