New Brunswick, New Jersey – Matinas BioPharma Holdings, Inc. conducted its Q2 2024 Earnings Conference Call on August 14, 2024, at 4:30 PM ET, where key company executives discussed the financial results and ongoing developments. The call included Chief Executive Officer Jerry Jabbour, Chief Financial Officer Keith Kucinski, and Chief Development Officer Terri Matkovits.
During the call, Jerry Jabbour announced that the company had signed a non-binding term sheet for the licensing of global rights to develop, manufacture, and commercialize MAT2203. This oral formulation of the antifungal amphotericin B is intended for patients with invasive aspergillosis with limited treatment options. The company expressed optimism about finding the right partner to maximize the value of MAT2203 in various territories.
Plans were also discussed for the ORALTO Phase 3 registration trial with MAT2203, expected to begin after finalizing a partnership agreement. The company highlighted the positive outcomes observed in their Compassionate/Expanded Use Access Program, where MAT2203 demonstrated clinical efficacy and safety in treating severe fungal infections.
Additionally, updates were provided on the company’s LNC platform, which shows promise in delivering small oligonucleotides and oncology drugs. Studies with LNC-docetaxel and LNC formulation of miriplatin have shown varying degrees of tumor inhibition, though some challenges, like weight loss, have been observed and are being addressed through further optimization.
Financially, the company reported a net loss of $5.7 million for the second quarter of 2024, with total costs and expenses amounting to $5.8 million. Cash reserves as of June 30, 2024, were reported at $14.3 million, reflecting an increase from the previous period due to a successful direct offering in April.
Overall, Matinas BioPharma remains focused on securing a definitive agreement for MAT2203 partnership, advancing the ORALTO Phase 3 trial, and optimizing their LNC platform for future drug development. The company looks forward to further progress updates during their next quarterly conference call in November.
