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Mar 31, 2020
Matinas BioPharma Q1 2020 Earnings Report
Matinas BioPharma reported financial results for the first quarter ended March 31, 2020, and provided a corporate update and outlook for 2020.
Key Takeaways
Matinas BioPharma reported a net loss attributable to common shareholders of $5.2 million, or a net loss per share of $0.03 for the first quarter of 2020. The company's cash, cash equivalents, and marketable securities were approximately $71.2 million as of March 31, 2020, sufficient to fund operations into the first half of 2023.
ENHANCE-IT study of MAT9001 against Vascepa® is set to resume in June 2020.
EnACT study of MAT2203 in cryptococcal meningitis is expected to resume in June 2020.
The COVID-19 pandemic has not had a material impact on the business.
Cash resources are sufficient to fund operations into the first half of 2023.
Matinas BioPharma
Matinas BioPharma
Forward Guidance
Matinas BioPharma believes that cash on hand is sufficient to fund operations into the first half of 2023.