Matinas BioPharma (NYSE: MTNB) reported Q3 EPS of ($0.03), in-line with the analyst estimate of ($0.03).

“I am extremely pleased with the progress we made in the third quarter, positioning the Company to commence two important studies for our lead assets, MAT9001 and MAT2203,” commented Jerome D. Jabbour, Chief Executive Officer of Matinas. “With respect to MAT9001, we began pre-screening patients in September for our confirmatory head to head ENHANCE-IT study vs. Vascepa, and remain on track to start dosing patients in early 2020. This is an exciting time for the omega-3 class as there are multiple upcoming catalysts that could help validate the blockbuster potential of prescription-only omega-3 therapy. We look forward to reporting data from the ENHANCE-IT trial in the fourth quarter of 2020, and continue to believe that MAT9001 has the potential to become the best-in-class prescription-only omega-3 product.”

“Importantly, we have also commenced dosing in the EnACT study of MAT2203, our oral formulation of amphotericin B, applying our lipid nano-crystal (LNC) platform delivery technology. Just recently the US Food and Drug Administration (FDA) granted MAT2203 orphan drug designation for the treatment of cryptococcosis. This designation, along with the previously granted Qualified Infectious Disease Product Designation (QIDP) with Fast Track status, positions MAT2203 for up to 12 years of exclusivity, if approved. We believe MAT2203, beginning with the EnACT trial, has the potential to provide a much-needed solution for patients and doctors in the battle against invasive fungal infections. We look forward to providing updates on this study throughout 2020,” added Mr. Jabbour.

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