Matinas BioPharma (NYSE: MTNB) reported Q1 EPS of ($0.03), in-line with the analyst estimate of ($0.03). Revenue for the quarter came in at $33.33 thousand versus the consensus estimate of $20 thousand.

First Quarter Highlights and Looking Ahead

• Patient enrollment in Cohort Two of the EnACT study (Encochleated Oral Amphotericin for Cryptococcal Meningitis Trial) has reached approximately 70 percent; DSMB evaluation of full safety and efficacy data from Cohort Two is anticipated in the third quarter of 2021.
• The Company has advanced MAT2501 into preclinical toxicology and efficacy studies, with the goal of completing a Phase 1 single ascending dose (SAD) pharmacokinetic study in healthy volunteers by the end of 2021. The Company expects to initiate a Phase 2 program in cystic fibrosis patients with nontuberculous mycobacterial infections in 2022 following successful completion of the Phase 1 SAD study.
• Following the announcement of its collaboration with the National Institutes of Allergy and Infectious Disease (NIAID) in December 2020 to create and evaluate oral formulations of Gilead’s antiviral remdesivir, the Company recently prepared and delivered several formulations to NIAID and expects to receive data from the first in vitro studies in the near term.
• The Company is pleased to announce that it will hold a virtual R&D Day on June 17, 2021. The management team plans to provide an overview of the Company’s LNC platform, including a detailed discussion on the platform’s clinical programs.
• The process of identifying and securing one or more partners for LYPDISO is ongoing, with interested parties globally, including in the United States, European Union and China.

“We are excited by the opportunities ahead for our LNC platform and associated drug candidates, and have made meaningful progress since the beginning of 2021,” commented Jerome D. Jabbour, Chief Executive Officer of Matinas. “Specifically, we continue to advance MAT2203 in cryptococcal meningitis through Cohort 2 of the EnACT trial towards its next DSMB review, which is anticipated in the third quarter of 2021. We believe that Cohort 2 data will further validate the LNC platform and highlight its ability to facilitate oral bioavailability and carry molecules safely and effectively across the blood-brain barrier in combating this deadly invasive fungal infection. We will also take the opportunity to present these data to the U.S. Food and Drug Administration in discussions about further accelerating development of MAT2203. In addition, we have advanced MAT2501 into preclinical toxicology and efficacy studies, with the goal of developing the first oral aminoglycoside for the treatment of nontuberculous mycobacterial infections, as well as gram negative bacterial infections. Finally, we continue to expand the application of the LNC platform with our collaborations with Genentech and with the NIAID in creating an oral formulation of Gilead’s remdesivir.”

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