Matinas BioPharma Announces the Termination of MAT2203 Partnership Negotiations and Implements Immediate Workforce Reduction
Matinas Biopharma Holdings, Inc. (MTNB)
NASDAQ:AMEX Investor Relations:
ir.matinasbiopharma.com
Company Research
Source: GlobeNewswire
BEDMINSTER, N.J., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Matinas BioPharma Holdings, Inc. (NYSE American: MTNB) announces that negotiations under the previously disclosed non-binding term sheet regarding global rights to MAT2203, its oral formulation of amphotericin B, have been terminated following notification from the prospective partner. As a result, Matinas has implemented an 80% workforce reduction effective immediately, eliminating 15 positions including three members of senior management, and has ceased all product development activities to conserve cash. The departing senior executives include Chief Medical Officer Dr. James Ferguson, Chief Business Officer Thomas Hoover and Chief Technology Officer Dr. Hui Liu. The Board intends to retain an advisor to assist the Company with the potential asset sale of MAT2203, its lead Phase 3-ready antifungal drug candidate for the treatment of invasive fungal infections, and will evaluate other alternatives, including but not limited to w
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News
- Matinas Biopharma Holdings, Inc. (NYSE: MTNB) was downgraded by analysts at Alliance Global Partners from a "strong-buy" rating to a "hold" rating.MarketBeat
- Matinas Biopharma Holdings, Inc. (NYSE: MTNB) was downgraded by analysts at Maxim Group from a "strong-buy" rating to a "hold" rating.MarketBeat
- Matinas Biopharma Holdings, Inc. (NYSE: MTNB) was downgraded by analysts at Alliance Global Partners from a "strong-buy" rating to a "hold" rating.MarketBeat
- Matinas Biopharma Holdings, Inc. (NYSE: MTNB) was downgraded by analysts at Maxim Group from a "strong-buy" rating to a "hold" rating.MarketBeat
MTNB
Sec Filings
- 11/13/24 - Form 10-Q
- 10/31/24 - Form 8-K
- 10/25/24 - Form SC
- MTNB's page on the SEC website