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Dec 31, 2023
Matinas BioPharma Q4 2023 Earnings Report
Matinas BioPharma reported 2023 financial results and provided a business update.
Key Takeaways
Matinas BioPharma reported revenue of $1.1 million for 2023, primarily from research collaborations. The company's net loss for the year was $22.9 million, or $0.11 per share. Cash, cash equivalents, and marketable securities totaled $13.8 million as of December 31, 2023, expected to fund operations through Q3 2024.
Clear registration pathway and FDA agreement on the ORALTO Phase 3 trial for MAT2203 represent critical steps forward and supports partnership discussions
Continued success of Compassionate/Expanded Use Access Program demonstrates potential of MAT2203 in treating multiple severe invasive fungal infections, including invasive aspergillosis
Successful in vivo LNC platform studies demonstrating the oral delivery of small oligonucleotides with biological activity and the dramatically improved safety of LNC-docetaxel over IV-docetaxel, with similar efficacy, supports the future use of the LNC platform in inflammation and oncology
Matinas is actively pursuing partnership opportunities to advance MAT2203 into Phase 3 as quickly as possible.
Matinas BioPharma
Matinas BioPharma
Forward Guidance
Matinas BioPharma believes its cash position is sufficient to fund planned operations through the third quarter of 2024.