Matinas BioPharma reports Q3 net loss of $5.5M; MAT2203 Phase 2 meets primary endpoint with 95% survival

Matinas BioPharma Holdings, Inc.

2023-Q3 EPS reported -$0.08 revenue$2,125,000

Phase 2 EnACT MAT2203 met primary endpoint: 95% 2-week survival; mean EFA 0.30. Overall survival 90% at 18 weeks.
Phase 3 registration trial planned Q1 2023; expects enrollment ~18 months, topline data H2 2024.
Cash $33.1M at Sep 30, 2022 (down from $49.6M); sufficient through 2023. Net loss $5.5M ($0.03/sh) vs $6.8M.
Eric Ende appointed Chairman effective Oct 1, 2022; founding Chairman Conrad remains as independent director.
Recorded $1.1M revenue from BioNTech collaboration; advanced discussions for license option on LNC platform.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Matinas BioPharma Holdings, Inc. reported the third quarter ended September 30, 2022 results: revenue $1.1 million, net income $5.5 million, EPS $0.03 per share.

Period: the third quarter ended September 30, 2022
Revenue: $1.1 million
Net income: $5.5 million
EPS: $0.03 per share
Result: reported results

Exact text from the filing

For the third quarter of 2022, net loss attributable to common shareholders was $5.5 million, or a net loss of $0.03 per share (basic and diluted), compared to a net loss attributable to common shareholders of $6.8 million, or a net loss of $0.03 per share (basic and diluted), for the same period in 2021. The reduced loss resulted from the Company recording $1.1 million in revenue from its research collaboration with BioNTech SE, along with a slight decrease in operating expenses year over year.

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Matinas BioPharma Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-22-030196

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