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Mar 31
Matinas BioPharma Q1 2025 Earnings Report
Matinas BioPharma Holdings, Inc. reported a net loss of $1.656 million for Q1 2025, a significant improvement from the $5.824 million loss in Q1 2024, driven by reduced operating expenses.
Key Takeaways
Matinas BioPharma Holdings, Inc. experienced a substantial reduction in net loss for the first quarter of 2025, reporting a net loss of $1.656 million compared to $5.824 million in the same period last year. This improvement was primarily due to a decrease in total costs and expenses, particularly in research and development, as the company paused its MAT2203 development program and implemented cost-cutting measures.
Net loss significantly decreased to $1.656 million in Q1 2025 from $5.824 million in Q1 2024.
Total costs and expenses were $1.946 million in Q1 2025, down from $5.902 million in Q1 2024.
Research and development expenses decreased substantially to $85 thousand in Q1 2025 from $3.446 million in Q1 2024 due to the pause in the MAT2203 development program.
General and administrative expenses also decreased to $1.861 million in Q1 2025 from $2.456 million in Q1 2024, driven by lower stock-based compensation and headcount reductions.
Matinas BioPharma
Matinas BioPharma
Forward Guidance
The company anticipates continued significant expenses and increasing operating losses in the foreseeable future, particularly if additional funding is secured to advance clinical studies and product development. The ability to continue as a going concern is dependent on securing partners, controlling operating expenses, and obtaining additional financing.
Positive Outlook
- Securing one or more partners to monetize MAT2203 and raise non-dilutive capital through licensing or sale.
- Advancing MAT2203 into Phase 3 development with partner support.
- Potential for a partner to commercialize MAT2203 upon approval.
- Exploring strategic options including in-licensing assets or seeking a merger partner.
- Registration of common stock underlying preferred stock and warrants on Form S-3.
Challenges Ahead
- Expectation of continued significant expenses and increasing operating losses.
- Uncertainty regarding the sufficiency of existing cash and cash equivalents to fund operations beyond the next twelve months.
- Substantial doubt about the company's ability to continue as a going concern.
- Potential for material dilution of ownership interest if additional capital is raised through equity offerings.
- Prohibition from issuing or announcing issuance of common stock or common stock equivalents until November 2025 under recent financing terms.