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Sep 30, 2021
Matinas BioPharma Q3 2021 Earnings Report
Matinas BioPharma reported third quarter financial results and operational highlights, including positive efficacy and safety data from EnACT study and initiation of Phase 1 study of MAT2501.
Key Takeaways
Matinas BioPharma reported a net loss of $6.8 million for the third quarter of 2021. The company's cash, cash equivalents, and marketable securities were approximately $53.8 million as of September 30, 2021, sufficient to fund planned operations into 2024. Significant pipeline progress was achieved, including advancement to the second half of the EnACT study and initiation of a Phase 1 study with MAT2501.
Announced positive efficacy and safety data from the first two cohorts of patients in the ongoing EnACT study of MAT2203 for the treatment of cryptococcal meningitis.
DSMB unanimously recommended progression to the second half of the EnACT study.
Initiated dosing in a Phase 1 study of MAT2501, a potential first oral aminoglycoside antibiotic drug.
Kathryn Penkus Corzo joined the Company’s Board of Directors.