Matinas BioPharma

Aug 10, 2021

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Jun 30, 2021

Matinas BioPharma Q2 2021 Earnings Report

Matinas BioPharma's Q2 2021 financial results were reported, highlighting progress with MAT2203 and MAT2501, along with positive in vitro data for LNC-remdesivir formulations.

Key Takeaways

Matinas BioPharma reported a net loss of $5.0 million for the second quarter of 2021, with cash, cash equivalents, and marketable securities totaling $59.8 million as of June 30, 2021. The company believes its cash on hand is sufficient to fund operations into 2024. Enrollment was completed in the second cohort of the EnACT study of MAT2203, and positive FDA feedback was received on the MAT2501 development program.

Completed enrollment in the second cohort of the EnACT study of MAT2203 for cryptococcal meningitis.

Received positive FDA feedback on the MAT2501 development program, allowing for a Phase 1 study in Q4 2021.

Observed meaningful efficacy of LNC formulations of Gilead Sciences’ remdesivir in in vitro studies, with NIAID preparing for an in vivo efficacy study in Q3 2021.

Cash, cash equivalents and marketable securities were approximately $59.8 million at June 30, 2021.