Buy Rating Affirmed for Matinas BioPharma on Strong Financials and Promising Oral Antifungal Candidate

Jason McCarthy, an analyst from Maxim Group, maintained the Buy rating on Matinas BioPharma (MTNB – Research Report). The associated price target is $1.00.

Jason McCarthy has given his Buy rating due to a combination of factors including Matinas BioPharma’s solid financial runway and the potential of their oral antifungal candidate, MAT2203. The company reported a net loss in the first quarter of 2024 but had a sufficient cash balance, bolstered by recent financing, to extend its operational capacity into early 2025. This financial stability is crucial as the company moves forward with significant developments in its pipeline.
Moreover, McCarthy notes the ongoing partnership discussions for the Phase 3 study of MAT2203, which has already aligned with FDA requirements for trial design. The drug is being evaluated for its effectiveness in treating invasive aspergillosis, with hopes to establish it as a non-inferior oral therapy alternative to existing treatments that have severe toxicity profiles. Additionally, the company’s technology platform has been recognized with presentations at a prominent industry conference, highlighting the promising preclinical data for oral small oligonucleotides. McCarthy’s optimistic outlook on Matinas BioPharma is further supported by the increasing awareness and need for new antifungal treatments in public health.

In another report released on April 26, Alliance Global Partners also initiated coverage with a Buy rating on the stock with a $0.60 price target.

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Matinas BioPharma (MTNB) Company Description:

Matinas BioPharma Holdings, Inc. is a clinical-stage biopharmaceutical company, which focuses on enabling the delivery of life-changing medicines using its LNC platform technology. The company’s proprietary, disruptive technology utilizes lipid nano-crystals which can encapsulate small molecule drugs, oligonucleotides, vaccines, peptides, proteins, and other medicines potentially making them safer, more tolerable, less toxic, and orally bioavailable. Its anti-fungal product candidate, MAT2203, delivers broad-spectrum fungicidal agent, amphotericin B; and is being developed to prevent invasive fungal infections in patients with acute lymphoblastic leukemia. The company was founded in May 2013 and is headquartered in Bedminster, NJ.