Matinas Biopharm - MTNB STOCK NEWS

Matinas BioPharma Holdings (NYSE American: MTNB) has announced the appointment of Evelyn D'An to its Board of Directors as an independent director and Chair of the Audit Committee, effective February 5, 2025. D'An brings significant experience as a board director and financial leader, with extensive expertise in corporate governance, financial oversight, and accounting across both public and private companies. She is a former partner at Ernst & Young, where she spent 18 years serving clients in retail, consumer products, and technology sectors. In addition to chairing the Audit Committee, D'An will serve as a member of the Matinas Nominating & Governance Committee.

111 Equity Group and its principal have acquired a 5.17% ownership stake in Matinas Biopharma Holdings (NYSE American: MTNB) as of January 2, 2025, with additional shares purchased thereafter. The investment follows MTNB's October 2024 announcement of a strategic review. 111 Equity identifies several potential value enhancement opportunities, including:

- Monetizing assets like MAT2203 (Phase 3 ready antifungal drug candidate)
- Leveraging MTNB's NYSE listing for potential mergers
- Utilizing MTNB's balance sheet

As of November 13, 2024, MTNB reported $10,295,000 in cash (approximately $2.13 per share), significantly above its January 16, 2025 closing price of $0.55. Despite an 80% workforce reduction and subsequent cash burn, 111 Equity believes the remaining cash exceeds MTNB's current market cap. The firm is actively engaging with MTNB management to enhance shareholder value.

Matinas BioPharma (NYSE American: MTNB) has received a noncompliance notice from NYSE American on January 6, 2025. The notice was issued because the company failed to hold its annual stockholders meeting for the fiscal year ending December 31, 2024, violating Section 704 of the NYSE American Company Guide.

To address this compliance issue, the company has stated its intention to hold the annual meeting by December 31, 2025, which would bring it back into compliance with NYSE American listing standards.

Matinas BioPharma (NYSE American: MTNB) announces the termination of negotiations for global rights to MAT2203, its oral formulation of amphotericin B. In response, the company has implemented an immediate 80% workforce reduction, eliminating 15 positions including three senior management members. The company has ceased all product development activities to conserve cash. The Board plans to retain an advisor to explore potential sale of MAT2203, their Phase 3-ready antifungal drug candidate, and will evaluate other alternatives including possible company winddown and dissolution.

Matinas BioPharma (NYSE American: MTNB) reports Q2 2024 financial results and provides a business update. Key highlights include:

1. Signed non-binding term sheet for global licensing rights to develop and commercialize oral MAT2203 for invasive aspergillosis and other fungal infections.

2. 31 patients enrolled in MAT2203 Compassionate/Expanded Use Access Program, with 6 more under evaluation.

3. Q2 2024 net loss of $5.7 million ($0.02 per share), compared to $6.1 million ($0.03 per share) in Q2 2023.

4. Cash, cash equivalents, and marketable securities of $14.3 million as of June 30, 2024.

5. Ongoing LNC platform studies in inflammation and oncology, with varying results in recent trials.

Matinas BioPharma Holdings, Inc. (NYSE American: MTNB), a clinical-stage biopharmaceutical company, has announced it will report its second quarter 2024 financial results after market close on Wednesday, August 14, 2024. The company, which focuses on developing therapies using its lipid nanocrystal (LNC) platform delivery technology, will host an investment community conference call and webcast at 4:30 p.m. Eastern time on the same day to discuss the financial results and provide a business update. Interested parties can participate in the call by dialing (866) 682-6100 (Toll-Free) or (862) 298-0702 (Toll). The webcast will be available on the IR Calendar page of the Matinas website and will be archived for six months.

Matinas BioPharma has successfully treated a 22-year-old male with a severe fungal infection using its oral drug MAT2203. The patient, initially treated with intravenous amphotericin B, showed severe renal toxicity. The switch to MAT2203 not only treated the infection but also restored renal function, allowing the patient to be discharged after six weeks.

The Compassionate/Expanded Use Access Program has treated 24 patients, with positive outcomes in reversing renal toxicity. Four additional cases are awaiting FDA approval. Matinas plans to further validate MAT2203's efficacy through its ORALTO Phase 3 trial, aiming for a New Drug Application. MAT2203 is still unapproved globally.

Matinas BioPharma will feature its oral antifungal drug MAT2203 in a fireside chat hosted by A.G.P. on June 18, 2024. The discussion will include insights from antifungal expert Dr. David S. Perlin on the antifungal landscape, the benefits of MAT2203 compared to IV-amphotericin B, and MAT2203's market potential. This oral formulation aims to treat invasive aspergillosis in patients with options. Insights into the ORALTO pivotal trial will also be shared. Participants can register to attend and ask questions during the event.

Matinas BioPharma (NYSE American: MTNB) announced promising in vitro data on their lipid nanocrystal (LNC) platform for delivering small oligonucleotides. Presented at TIDES USA 2024: Oligonucleotide & Peptide Therapeutics, the data demonstrated up to 70% gene knockdown in targeted cytokines using murine macrophages. The LNCs encapsulate and protect small oligonucleotides like ASOs and siRNA, showing successful delivery and biological activity even after exposure to gastric fluid. This could make LNCs a promising oral drug delivery platform for various therapeutic applications.