Matinas BioPharma Regains Compliance with NYSE American Continued Listing Standards
22 March 2024 - 9:30PM
Matinas BioPharma Holdings, Inc. (NYSE American: MTNB), a
clinical-stage biopharmaceutical company focused on delivering
groundbreaking therapies using its lipid nanocrystal (LNC) platform
delivery technology, today announced that on March 21, 2024, the
Company received written notification from the NYSE American LLC
("NYSE American") stating that the Company has regained compliance
with the NYSE American’s continued listing standards. Specifically,
the Company has resolved the continued listing deficiency with
respect to the low selling price of its common stock as described
in Section 1003(f)(v) of the NYSE American Company Guide due to
shares of its common stock demonstrating sustained price
improvement.
In the notification, the NYSE American informed
the Company that the below compliance (".BC") indicator will no
longer be disseminated at the opening of trading on March 22, 2024,
and the Company will be removed from the NYSE American noncompliant
issuers list on the NYSE American's website.
About Matinas BioPharmaMatinas
BioPharma is a biopharmaceutical company focused on delivering
groundbreaking therapies using its lipid nanocrystal (LNC) platform
delivery technology.
Matinas’ lead LNC-based therapy is MAT2203, an
oral formulation of the broad-spectrum antifungal drug amphotericin
B, which although highly potent, can be associated with significant
toxicity. Matinas’ LNC platform provides oral delivery of
amphotericin B without the significant nephrotoxicity otherwise
associated with IV-delivered formulations. Combining comparable
fungicidal activity with targeted delivery results in a lower risk
of toxicity and potentially creates the ideal antifungal agent for
the treatment of invasive fungal infections. MAT2203 was
successfully evaluated in the completed Phase 2 EnACT study in HIV
patients suffering from cryptococcal meningitis, meeting its
primary endpoint and achieving robust survival. MAT2203 will be
further evaluated in a single Phase 3 registration trial (the
“ORALTO” trial) as an oral step-down monotherapy following
treatment with AmBisome® (liposomal amphotericin B) compared with
the standard of care in patients with invasive aspergillosis who
have limited treatment options.
In addition to MAT2203, preclinical and clinical
data have demonstrated that this novel technology can potentially
provide solutions to many challenges of achieving safe and
effective intracellular delivery of both small molecules and
larger, more complex molecular cargos including small
oligonucleotides such as ASOs and siRNA. The combination of its
unique mechanism of action and flexibility with routes of
administration (including oral) positions Matinas’ LNC technology
to potentially become a preferred next-generation orally available
intracellular drug delivery platform. For more information, please
visit www.matinasbiopharma.com.
Forward-looking StatementsThis
press release contains certain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 and Private
Securities Litigation Reform Act, as amended, including those
relating to the Company's compliance with the NYSE American’s
continued listing standards, product development, clinical and
regulatory timelines, market opportunity, competitive position,
intellectual property rights, possible or assumed future results of
operations, business strategies, potential growth opportunities and
other statements that are predictive in nature. These
forward-looking statements are based on current expectations,
estimates, forecasts and projections about the industry and markets
in which we operate, and management's current beliefs and
assumptions. These statements may be identified by the use of
forward-looking expressions, including, but not limited to,
"expect," "anticipate," "intend," "plan," "believe," "estimate,"
"potential, "predict," "project," "should," "would" and similar
expressions and the negatives of those terms. These statements
relate to future events or our financial performance and involve
known and unknown risks, uncertainties, and other factors that may
cause actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such
factors include those set forth in the Company's Annual Report on
Form 10-K for the year ended December 31, 2022 as well as other
documents filed by the Company from time to time thereafter with
the Securities and Exchange Commission. Prospective investors are
cautioned not to place undue reliance on such forward-looking
statements, which speak only as of the date of this press release.
The Company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events or otherwise.
Investor Contact
LHA Investor RelationsJody Cain
Jcain@lhai.com310-691-7100
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