HomeTrending StocksHere is why Matinas BioPharma Holdings Inc. (MTNB) stock is surging on...

Here is why Matinas BioPharma Holdings Inc. (MTNB) stock is surging on Monday’s pre-market?

Matinas BioPharma Holdings Inc. (MTNB) shares have surged 8.96% in Monday’s pre-as of this writing, and are trading at $0.90. On Friday, after-hours session, MTNB’s stock gained 4.45% and closed weekly trading at $0.83. MTNB shares have risen 23.91% over the last 12 months, and they have moved up 1.98% in the past week. Over the past three months, the stock has lost 5.47%, while over the past six months, it has declined 31.17%.

Let’s see is there any recent news about the company?


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MTNB latest announcement about EnACT Trial of MAT2203

On September 13, 2021, Matinas BioPharma Holdings, Inc (MTNB) announced positive efficacy and safety data from the first two cohorts of patients in the ongoing Encochleated Oral Amphotericin for Cryptococcal Meningitis Trial (EnACT) of MAT2203 (oral amphotericin B) for the treatment of cryptococcal meningitis, which is being sponsored by the National Institute of Allergy and Infectious Diseases (NIAID).

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All patients treated with MAT2203 who completed the induction phase achieved sterile CSF cultures during treatment.

MTNB received U.S. Patent for MAT2203

On August 16, 2021, Matinas BioPharma Holdings, Inc (MTNB) reported that the U.S. Patent and Trademark Office (USPTO) has issued a Notice of Allowance for U.S. Patent Application No. 16/312,047, covering MAT2203, the Company’s oral, LNC formulation of antifungal medicine amphotericin B.

MTNB recent financial results announcement

On August 10, 2021, Matinas BioPharma Holdings, Inc. (MTNB) reported its financial results for the second quarter ended June 30, 2021.

Q2 2021 financial highlights

  • MTNB earned no revenue in Q2 2021 and Q2 2020.
  • Research and development expenses were $2.5 million in Q2 2021, compared to $3.4 million in Q2 2020.
  • General and administrative expenses were $2.3 million in Q2 2021 compared to $2.4 million in the same period in 2020.
  • It suffered a net loss of $5.0 million, or a net loss of $0.02 per basic and diluted share in Q2 2021 compared to a net loss of $5.8 million, or a net loss of $0.03 per basic and diluted share in Q2 2020.
  • As of June 30, 2021, the company had cash, cash equivalents and marketable securities of approximately $59.8 million, compared to $58.7 million on December 31, 2020.

MTNB participation in the recent conference

Matinas BioPharma Holdings, Inc. (MTNB) recently participated at BTIG Virtual Biotechnology Conference on Tuesday, August 10, 2021. The company was presented by Chief Executive Officer, Jerome D. Jabbour.

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Conclusion

MTNB stock is surging on Monday’s premarket after the company announced positive results about its EnACT Trial of MAT2203. We can expect it to continue to surge in the coming trading sessions on Monday.

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