Matinas BioPharma (MTNB) Reports In-Line Q3 EPS

Matinas BioPharma (NYSE: MTNB) reported Q3 EPS of ($0.03), in-line with the analyst estimate of ($0.03). Revenue for the quarter came in at $95.83 thousand versus the consensus estimate of $20 thousand.\“The third quarter was very productive for the Company, as we continued to execute on our strategic priorities. We achieved a significant milestone in the EnACT study of MAT2203 with cohort progression, completed enrollment in the ENHANCE-IT study of MAT9001, and aligned with the FDA on key elements of our Phase 3 program for MAT9001,” commented Jerome D. Jabbour, Chief Executive Officer of Matinas. “Cohort progression in the EnACT study is both an important milestone for the development of MAT2203 as well as another critical step forward in further clinically validating the potential of our LNC platform delivery technology. As we look toward the remainder of the year and into 2021, we will intently focus on progressing our drug candidates through clinical development, with topline data from ENHANCE-IT anticipated in the first quarter of 2021 and a DSMB evaluation on progression from cohort 2 to cohort 3 in EnACT expected to occur in the middle of 2021. Finally, we continue to make good progress in identifying and advancing opportunities to expand the utilization of our LNC platform delivery technology with additional internal product candidates and external collaborations.”

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