Matinas BioPharma falls 17% amid pipeline, business updates for 2022
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Matinas BioPharma (NYSE:MTNB)
provided pipeline and business updates for 2022.
MAT2203 Program: The company is developing the therapy to treat and prevent invasive fungal infections, including cryptococcal meningitis.
The company said the end of a phase 2 meeting with FDA has provided a pathway to a new drug application (NDA) submission for MAT2203 following confirmatory data to be generated in an additional group.

The FDA expressed openness to an expansion of the EnACT study to include a new cohort 5 to run alongside group 4 in Uganda. The company plans to meet with the FDA in Q2 2022 to finalize group design.
Group 4, which is evaluating an all-oral regimen of MAT2203, has inducted six patients in Uganda and is expected to complete enrollment in Q2. Top line interim data expected in Q3.
Matinas' LNC formulation of Gilead Scienceâs (NASDAQ:GILD) remdesivir:
The company said in vivo study of orally administered LNC remdesivir showed reduced viral titers and effects similar to subcutaneous administered remdesivir. An additional preclinical study, supported by National Institute of Allergy and Infectious Diseases (NIAID) will begin in late Q1 and data is expected in Q2.
Financial Outlook:
The companyâs preliminary estimate of cash and cash equivalents as of Dec. 31, 2021 stood at $49.9M, compared to $58.7M at Dec. 31, 2020.
The company believes that cash on hand is sufficient to fund planned operations through 2023.
In addition, the company that it will not effect a reverse stock split, which was decided upon a year ago in a stockholder meeting.
MTNB -17.34% premarket to $0.66