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Saturday, November 26, 2022

Running with Matinas BioPharma Holdings Inc(OTCMKTS:MTNB)

Matinas BioPharma Holdings Inc(OTCMKTS:MTNB) has been making a powerful move up in recent months off its $0.411 lows. The stock has transformed into a volume leader recently topping $2 a share.

The big move on MTNB comes as reports surfaced that the FDA designated the Company’s lead drug candidate, MAT2203, as a Qualified Infectious Disease Product (QIDP) with Fast Track status.

Matinas BioPharma Holdings Inc(OTCMKTS:MTNB) bills itself as a clinical-stage biopharmaceutical company focused on identifying and developing safe and effective broad spectrum therapeutics for the treatment of serious and life-threatening infections. The Company’s proprietary, disruptive technology utilizes lipid-crystal nano-particle cochleates to nano-encapsulate existing drugs, making them safer, more tolerable, less toxic and orally bioavailable.

The Company’s lead drug candidate is MAT2203, an orally-administered, encochleated formulation of amphotericin B (a broad spectrum fungicidal agent). The Company has an open Investigational New Drug (IND) application for MAT2501, which is an orally-administered, encochleated formulation of amikacin (a broad spectrum aminoglycoside antibiotic agent) for acute bacterial infections, including non-tuberculous mycobacterium (NTM) and multi-drug resistant gram negative bacterial infections. In addition, the Company is exploring development and partnership options for MAT9001, a prescription-only omega-3 fatty acid-based composition under development for hypertriglyceridemia, which has shown superiority versus Vascepa [(R)] (icosapent ethyl) in reducing serum triglycerides, Total- and Non-HDL-Cholesterol, apolipoproteins and PCSK9 levels

The Company’s lead anti-infective product candidates, MAT2203 and MAT2501, position Matinas BioPharma to become a leader in the safe and effective delivery of anti-infective therapies utilizing its proprietary lipid-crystal nano-particle cochleate formulation technology.

In June MTNB presented preclinical data on its investigational drug, MAT2501 (orally-administered encochleated amikacin) for chronic and acute bacterial infections, including non-tuberculous mycobacteria (NTM) and multi-drug resistant gram-negative bacterial infections, at the American Society for Microbiology’s Interscience Conference of Antimicrobial Agents and Chemotherapy (ASM Microbe/ICAAC 2016) scientific meeting being held June 16 [th] – 20 [th]   in Boston, MA.

The abstract entitled “Oral Encochleated Amikacin Demonstrates Reduced Toxicity Compared to Intravenous Amikacin in Rats” was presented today in a poster session focused on antimicrobial resistance and the approaches on how to fight against it. MAT2501 is a broad spectrum aminoglycoside antibiotic agent delivered in the Company’s proprietary lipid-crystal nano-particle cochleate formulation technology.

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In the study, rats were administered 50 or 200 mg/kg/day doses of oral MAT2501 and were studied in 0.66 M NaCl, in 1mM bile salts, or in 2 mM bile salts for 7 days. In comparison, rats were administered amikacin utilizing intravenous (I.V.) delivery at 200 mg/kg/day oral and at 50 mg/kg/day. Parameters that were evaluated include mortality/morbidity, clinical observations, body weights, plasma drug levels, toxicokinetic analysis, clinical pathology, necropsy observations, organ weights, and histopathology. Across dose groups MAT2501 provided 100 fold lower plasma levels of amikacin than the I.V. dose. There was a noteworthy trend toward a lower exposure on Day 7 versus Day 1 in several dose groups. The various changes seen in all treatment groups were of minimal toxicologic significance. The study found that in three different vehicle formulations, MAT2501 was well-tolerated at 50 and 200 mg/kg for 7 days.

On September 13 MTNB announced the final closing of an $8.0 million private placement equity financing, which represents the full amount of the offering. The Company sold to accredited investors an aggregate of 1,600,000 Series A Preferred Shares at a purchase price of $5.00 per share.

The net proceeds to the Company from the offering were approximately $6.9 million. The net proceeds will be used for research and development activities, a new manufacturing facility and for working capital and general corporate purposes.

SternAegis Ventures, through Aegis Capital Corp., acted as the exclusive Placement Agent for the offering. Participants in the offering included members of the Board of Directors and management of the Company and affiliates of the Placement Agent.

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Currently trading at a $111 million market valuation MTNB has just over $500k in the treasury and no revenues to date. MTNB is an exciting story in small caps boosted by reports that the FDA designated the Company’s lead drug candidate, MAT2203, as a Qualified Infectious Disease Product (QIDP) with Fast Track status. MTNB also just closed on $8 million in financing at $5 a share. We will be updating on MTNB when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MTNB.

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Disclosure: we hold no position in MTNP either long or short and we have not been compensated for this article.

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