Matinas BioPharma reports 2022 net loss $21M, cash $28.8M; LNC platform updates

Matinas BioPharma Holdings, Inc.

Revenue $3.2M from BioNTech collaboration, vs $33K in 2021.
Net loss $21.0M ($0.10/share) vs $23.7M ($0.11/share) in 2021.
Cash and marketable securities $28.8M at Dec 31, 2022, sufficient into Q2 2024.
Anticipates Q2 2023 in vivo data from BioNTech and National Resilience collaborations.
Planned FDA meeting for MAT2203 Phase 3; potential BARDA/NIH funding.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Matinas BioPharma Holdings, Inc. reported the year ended December 31, 2022 results: revenue $3.2 million, net income $21.0 million, EPS $0.10 per share.

Period: the year ended December 31, 2022
Revenue: $3.2 million
Net income: $21.0 million
EPS: $0.10 per share
Result: reported results

Exact text from the filing

Revenue for the year ended December 31, 2022 was $3.2 million, which was generated from the research collaboration with BioNTech SE. This compares with revenue for the year ended December 31, 2021 of $33,000, which was generated from the feasibility study agreement with Genentech Inc. Total costs and expenses for 2022 were $27.8 million compared with $24.8 million for 2021. The increase was due primarily to higher research and development expenses reflecting the later stage of the Company’s clinical development programs. Income from selling unused New Jersey net operating losses (NOLs) and research and development tax credits was $3.5 million and $1.3 million for 2022 and 2021, respectively. The net loss attributable to common shareholders for 2022 was $21.0 million, or $0.10 per share, compared with a net loss attributable to common shareholders for 2021 of $23.7 million, or $0.11 per share.

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Source: SEC EDGAR

accession 0001493152-23-007732

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