Tue, Apr 15, 9:24 PM (11 days ago)
**Summary of Matinas BioPharma Holdings, Inc. (MTNB) 2024 Annual Report** **Financial Performance:** - **Revenue:** $0 for 2024, $1,096 for 2023. - **Net Loss:** $24.3 million for 2024, $22.9 million for 2023. - **Research & Development (R&D) Expenses:** $11.4 million for 2024, $14.5 million for 2023. - **General & Administrative (G&A) Expenses:** $8.7 million for 2024, $10.4 million for 2023. - **Impairment Charges:** $4.4 million for 2024, $0 for 2023. **Strategic Overview:** - **Lead Product:** MAT2203 (oral amphotericin B) for treating invasive fungal infections. - **Phase 3 Trial:** ORALTO trial planned for invasive aspergillosis. - **Partnerships:** Seeking development and commercialization partners for MAT2203. - **Cost-Cutting:** Implemented an 80% workforce reduction in October 2024 to conserve cash. **Future Outlook:** - **Funding:** Plans to secure additional funding through equity offerings, debt financings, or partnerships. - **Strategic Alternatives:** Evaluating options for MAT2203 and other strategic alternatives for the company. **Risk Factors:** - **Financial Condition:** Substantial doubt about the ability to continue as a going concern. - **Operational Risks:** Dependence on partnerships, regulatory approvals, and market conditions. - **Competitive Landscape:** Competition from other biotech and pharmaceutical companies. **Financial Condition:** - **Cash & Cash Equivalents:** $7.3 million as of December 31, 2024. - **Liquidity:** Insufficient cash to fund operations beyond the next twelve months. **Market Position Changes:** - **Stock Performance:** Volatile stock price with significant fluctuations. - **Listing Status:** Traded on NYSE American under the symbol "MTNB." **Other Highlights:** - **Intellectual Property:** Strong patent portfolio for LNC Platform and MAT2203. - **Regulatory Designations:** QIDP, Fast Track, and Orphan Drug Designations for MAT2203.