Matinas BioPharma (NYSE: MTNB) reported Q4 EPS of ($0.04), $0.01 worse than the analyst estimate of ($0.03).

“2019 was a year of significant operational progress for Matinas and we are very excited to have advanced both of our clinical stage assets, MAT9001 and MAT2203, into key efficacy trials early in 2020,” commented Jerome D. Jabbour, Chief Executive Officer of Matinas. “ENHANCE-IT represents a significant opportunity to once again highlight the superior profile of MAT9001 against the leading therapy in the prescription omega-3 space. We are also enthusiastic about the EnACT study of MAT2203 in patients with cryptococcal meningitis. The potential to effectively and safely deliver amphotericin B orally while crossing the blood brain barrier utilizing our LNC platform delivery technology could be an important breakthrough for patients and physicians. Importantly, the timelines to impactful data from these studies are relatively compressed. We expect topline data from ENHANCE-IT in the fourth quarter of this year and should be in position to announce cohort progression in the EnACT trial as soon as the second quarter of this year.”

Mr. Jabbour added, “We have also taken meaningful steps to financially strengthen our Company well in advance of major potential value-creating clinical milestones for our lead assets. We capitalized on expressed interest from well-regarded current and new institutional investors, and successfully completed a transformational financing earlier this year which extends our cash runway into the second half of 2022. As a result, we can now focus exclusively on execution as we continue to advance our product candidates.”

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