Loading...
•
Mar 31, 2024
Matinas BioPharma Q1 2024 Earnings Report
Matinas BioPharma reported financial results for Q1 2024 and provided a business update.
Key Takeaways
Matinas BioPharma reported no revenue for the first quarter of 2024, with a net loss of $5.8 million, or $0.03 per share. The company's cash, cash equivalents, and marketable securities totaled $8.1 million as of March 31, 2024, and a subsequent financing of $10.0 million is expected to fund operations into the second quarter of 2025. The company remains on track with partnership discussions to advance oral MAT2203 into the ORALTO trial.
Recent $10 million financing expected to fund planned development programs and operations into the second quarter of 2025.
Discussions to secure a partner to advance MAT2203 into the Phase 3 ORALTO trial remain on track.
The company's strategy to expand its LNC platform into inflammation and oncology is supported by favorable in vivo data in multiple disease models.
Confidence in oral MAT2203 continues to build as further evidence of favorable outcomes in extremely ill patients are seen.
Matinas BioPharma
Matinas BioPharma
Forward Guidance
Based on current projections, the Company believes its cash position is sufficient to fund planned operations into the second quarter of 2025.