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Sep 30, 2023
Matinas BioPharma Q3 2023 Earnings Report
Matinas BioPharma's Q3 2023 financial results were reported, and a business update was provided.
Key Takeaways
Matinas BioPharma reported no revenue for Q3 2023 compared to $1.1 million in Q3 2022. Total costs and expenses were $6.1 million, down from $6.5 million in the prior year. The net loss was $6.1 million, or $0.03 per share, compared to a net loss of $5.5 million, or $0.03 per share, in Q3 2022. Cash, cash equivalents and marketable securities were $18.2 million as of September 30, 2023.
FDA feedback on MAT2203 Phase 3 program supports a patient population in invasive aspergillosis with limited treatment options.
A patient with Candida krusei infection achieved complete clinical resolution with MAT2203 under the Compassionate/Expanded Use Access Program.
Oral LNC formulation of docetaxel showed reduction in tumor size comparable to IV-docetaxel with no systemic toxicity in preclinical melanoma model.
The company believes its cash position is sufficient to fund planned operations into the third quarter of 2024.
Matinas BioPharma
Matinas BioPharma
Forward Guidance
Matinas BioPharma believes its cash position is sufficient to fund planned operations into the third quarter of 2024 and is seeking to extend its cash runway.