Matins BioPharma Inc. (NASDAQ: MTNB) stock plunged by 0.94% at last close whereas the MTNB stock gained by 7.62% in the after-market trading session. Matinas BioPharma is a biopharmaceutical business that uses its paradigm-shifting lipid nanocrystal (LNC) delivery platform to improve intracellular delivery of important medications.

MTNB stock’ Upcoming Event

Matinas BioPharma Holdings has been asked to give an overview of the company at the Piper Sandler 33rd Annual Virtual Healthcare Conference, which will take place November 29 – December 2, 2021. During the event, the firm will conduct investor meetings.

Financial Outcomes

Quite recently Matinas BioPharma announced its financial and operational highlights. Given below is the summary:

• On September 30, 2021, cash, cash equivalents, and marketable securities totaled $53.8 million, whereas it was $58.7 million on December 31, 2020. The Team thinks that cash on hand will be adequate to support planned operations through 2024, given the current projections.
• The net loss attributable to common shareholders for the Q3 of 2021 was $6.8 million, or $0.03 per share (basic and diluted), relative to a net loss attributable to common shareholders of $5.7 million, or $0.03 per share (basic and diluted), for the same period in 2020. The rise was mainly due to increased research and development costs.

MTNB stock’ Operational Updates

• The DSMB suggested progression to the second part of the study after receiving positive safety and effectiveness data from the first two cohorts of patients in the continuing EnACT study of MAT2203 (oral amphotericin B) for the cure of cryptococcal meningitis.
• Dosing began in a Phase 1 study of MAT2501, a possible first oral aminoglycoside antibiotic (oral amikacin).
• Kathryn Penkus Corzo, a seasoned biotechnology executive, has joined the Company’s Board of Directors.

Jerome D. Jabbour, CEO of Matinas stated that,

They’ve started an in vivo efficacy study with LNC remdesivir with their collaborators at the National Institutes of Health and Gilead, and they hope to share results later this year as another conceptual design for successful antiviral prodrug oral administration. Lastly, they continue to assess opportunities to capitalize on what they believe is their LNC platform’s immense potential for solving the oral administration and intracellular delivery issues posed by vaccines and complicated nucleic acid polymers like mRNA.