Matinas BioPharma Holdings, Inc. (MTNB)

US — Healthcare Sector
Peers: BCLI  NRSN  IBO  ADXN  ADIL  CDIO  VYNE  HCWB  KTTA  ACXP 

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News

Matinas BioPharma Announces Agreement for the Acquisition of Preferred Stock and Appointment of Dr. Robin L. Smith to the Board of Directors
MTNB
Published: February 13, 2025 by: GlobeNewsWire
Sentiment: Neutral

BEDMINSTER, N.J., Feb. 13, 2025 (GLOBE NEWSWIRE) -- Matinas BioPharma Holdings, Inc. (NYSE American: MTNB) (the “Company”) today announced that the Company entered into a securities purchase agreement (the “Agreement”) with a certain group of investors (the “Investors”), pursuant to which they agreed to purchase from the Company 3,300 shares of Series C Convertible Preferred Stock (the “Preferred Stock”) and warrants to purchase up to 11,262,808 shares of common stock at a purchase price of $1,000 per share of Preferred Stock and accompanying warrants for aggregate gross proceeds of $3.3 million before deducting offering expenses payable by the Company.

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image for news Matinas BioPharma Announces Agreement for the Acquisition of Preferred Stock and Appointment of Dr. Robin L. Smith to the Board of Directors

About Matinas BioPharma Holdings, Inc. (MTNB)

  • IPO Date 2014-07-21
  • Website https://www.matinasbiopharma.com
  • Industry Biotechnology
  • CEO Jerome D. Jabbour
  • Employees 3
Matinas BioPharma Holdings, Inc., a clinical-stage biopharmaceutical company, focuses on the discovery and development of various product candidates. It develops products using its lipid nanocrystal (LNC) platform technology. The company's LNC delivery technology platform utilizes lipid nano-crystals for the delivery of small molecules, nucleic acids, gene therapies, vaccines, proteins, and peptides. Its lead product candidate is LYPDISO, a prescription-only omega-3 free fatty acid-based composition intended for the treatment of cardiovascular and metabolic conditions. The company also offers MAT2203, an oral formulation of amphotericin B that is in Phase II clinical trials for the prevention of invasive fungal infections due to immunosuppressive therapy in patients. In addition, it provides MAT2501, an orally administered formulation of the broad-spectrum aminoglycoside antibiotic amikacin that has completed Phase I clinical trials to treat various types of multidrug-resistant bacteria, including non-tuberculous mycobacterium infections, as well as various multidrug-resistant gram negative and intracellular bacterial infections. Matinas BioPharma Holdings, Inc. has a research collaboration with the National Institute of Allergy and Infectious Diseases for the development of Gilead's antiviral remdesivir; and a feasibility collaboration with Genentech, Inc. for the development of oral formulations. The company was incorporated in 2013 and is based in Bedminster, New Jersey.