Why Matinas BioPharma Holdings Inc. (MTNB) stock popup in the after-hours on Friday?

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FRLN Stock
FRLN Stock

Matinas BioPharma Holdings Inc. (MTNB) shares jumped 7.62% in after-hours on Friday, November 19, 2021, and closed the trading at $1.13. However, in the regular trading session, MTNB’s stock lost 0.94%. MTNB shares have risen 35.33% over the last 12 months, and they have moved up 0.96% in the past week. Over the past three months, the stock has gained 46.26%, while over the past six months, it has jumped 32.84%.

Let’s have a look at its recent news and developments.


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MTNB participation in the upcoming events

Matinas BioPharma Holdings, Inc. will participate in a fireside chat as part of the B. Riley Fall 2021 Growth Biotech Best Ideas Series on Tuesday, November 23, 2021, at 12:30 p.m. ET. Jerome D. Jabbour, Chief Executive Officer of Matinas, and other members of the Matinas leadership team will take part in a fireside chat.

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MTNB will also participate at the Piper Sandler 33rd Annual Virtual Healthcare Conference, being held November 29 – December 2, 2021. The Company will also host investor meetings during the conference.

MTNB latest financial results

On November 08, 2021, Matinas BioPharma Holdings, Inc. (MTNB), announced its financial results for the third quarter ended September 30, 2021, along with a corporate update.

Q3 2021 financial highlights

  • MTNB earned no revenue in Q3 2021 and Q3 2020.
  • Total cost and expenses were $6.8 million in Q3 2021 compared to $5.7 million in Q3 2020.
  • It suffered a net loss of $6.8 million, or a net loss of $0.03 per share (basic and diluted) in Q3 2021, compared to a net loss attributable to common shareholders of $5.7 million, or a net loss of $0.03 per share (basic and diluted), for the same period in 2020.
  • The company ended the third quarter with cash, cash equivalents, and marketable securities of $53.8 million, compared to $58.7 million on December 31, 2020.

MTNB update about MAT2501

On October 21, 2021, Matinas BioPharma Holdings, Inc. (MTNB) dosed the first patient in Phase 1 single ascending dose (SAD) pharmacokinetic study in healthy volunteers with MAT2501. The Company expects to complete enrollment of Phase 1 SAD study in the first quarter of 2022, with data anticipated during the second quarter of 2022. the Company expects to start a Phase 2 program in patients with nontuberculous mycobacterial (NTM) infections by the first quarter of 2023.

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Conclusion

There is no recent news behind its mixed performance on Friday so we are unable to predict how it will commence the trading on Monday after the weekend.

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