Matinas BioPharma Holdings, Inc. MTNB
BioPharma Holdings, Inc. ("Matinas" or the "Company") is a clinical-stage biopharmaceutical company focused on
delivering groundbreaking therapies using our lipid nanocrystal ("LNC") platform delivery technology (the "LNC Platform").
lead product candidate is MAT2203 (oral amphotericin B), a highly potent antifungal drug which, by virtue of LNC delivery, has been made
oral, safe, and well-tolerated for prolonged administration in patients with life-threatening invasive fungal infections. Following the
Last close
1.70
2026-10-23
Market cap
$25.0M
2026-06-30 share count
52-week range
0.17 - 3.15
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-2.00
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $1.1M | $3.2M | $33.0K | $158.3K | $89.8K | $119.8K | $149.7K | $0 |
| R&D | $85.0K | $11.4M | $14.5M | $16.7M | $14.6M | $14.4M | $11.2M | $6.8M | $9.0M | $3.9M |
| SG&A | $6.9M | $8.7M | $10.4M | $11.1M | $10.2M | $10.0M | $7.8M | $8.0M | $7.6M | $4.3M |
| Total operating expenses | $7.0M | $24.6M | $24.9M | $27.8M | $24.8M | $24.4M | $19.0M | $14.8M | $16.7M | $8.3M |
| Operating income | -$7.0M | -$24.6M | -$23.8M | -$24.6M | -$24.7M | -$24.2M | -$18.9M | -$14.6M | -$16.5M | -$8.3M |
| Pre-tax income | -$10.3M | -$24.3M | -$22.9M | — | — | — | — | -$13.6M | -$15.1M | — |
| Income tax | — | $80.0K | — | — | — | — | — | $506.9K | $400.0K | — |
| Net income | -$10.3M | -$24.3M | -$22.9M | -$21.0M | -$23.3M | -$22.4M | -$17.4M | -$14.1M | -$15.5M | -$7.6M |
| EPS, basic | -2.00 | -4.98 | -5.28 | -0.10 | -0.11 | — | — | — | — | — |
| EPS, diluted | -2.00 | -4.98 | -5.28 | -0.10 | -0.11 | -0.12 | -0.13 | -0.15 | -0.36 | -0.21 |
| Shares, diluted (wtd. avg.) | 5.5M | 4.9M | 4.3M | 216.8M | 210.2M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $4.0M | $7.3M | $4.8M | $6.8M | $21.0M | $12.4M | $22.2M | $13.0M | $7.3M | $4.1M |
| Short-term investments | — | — | $9.0M | $21.9M | $28.6M | $46.2M | $5.6M | — | — | — |
| Total current assets | $4.1M | $8.0M | $15.5M | $34.5M | $51.0M | $61.6M | $29.9M | $13.1M | $8.0M | $4.6M |
| Property, plant and equipment | $138.0K | $468.0K | $1.9M | $2.1M | $1.5M | $1.5M | $1.7M | $2.0M | $1.6M | $356.1K |
| Goodwill | — | — | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M |
| Other intangibles | $2.3M | $2.3M | $3.0M | $3.0M | $3.0M | $3.0M | — | — | — | — |
| Total assets | $7.2M | $12.6M | $25.1M | $44.8M | $61.3M | $71.0M | $40.2M | $19.9M | $14.4M | $9.8M |
| Accounts payable | $315.0K | $95.0K | $514.0K | $618.0K | $937.0K | $349.9K | $679.3K | $295.7K | $582.9K | $475.6K |
| Total current liabilities | $1.5M | $2.7M | $2.6M | $4.3M | $4.3M | $3.6M | $3.1M | $2.8M | $1.8M | $1.4M |
| Total liabilities | $2.4M | $5.1M | $5.9M | $8.2M | $8.8M | $7.2M | $7.2M | $3.8M | $3.7M | $2.7M |
| Retained earnings | -$210.8M | -$199.8M | -$175.6M | -$152.6M | -$131.6M | -$107.5M | -$84.4M | -$65.9M | -$51.3M | -$35.2M |
| Total equity | $4.8M | $7.6M | $19.2M | $36.6M | $52.5M | $63.7M | $33.1M | $16.1M | $10.7M | $7.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$7.0M | -$15.9M | -$15.3M | -$19.2M | -$15.2M | -$17.4M | -$14.1M | -$10.3M | -$11.5M | -$6.1M |
| Depreciation and amortisation | $32.0K | $365.0K | $385.0K | $337.0K | $244.0K | $231.1K | $206.0K | $218.3K | $100.6K | $52.6K |
| Stock-based compensation | $1.0M | $3.2M | $4.9M | $5.2M | $4.3M | $4.6M | $3.0M | $3.8M | $3.6M | $1.5M |
| Capital expenditure | — | — | $218.0K | $892.0K | $260.0K | $5.7K | $405.6K | $535.9K | $942.2K | $0 |
| Investing cash flow | $335.0K | $9.2M | $13.2M | $4.9M | $16.8M | -$40.7M | -$6.0M | -$535.9K | -$942.2K | $0 |
| Financing cash flow | $3.4M | $9.2M | -$7.0K | $79.0K | $7.0M | $48.0M | $29.9M | $15.9M | $15.6M | $7.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-014132.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $149.7K | $119.8K | $89.8K | $158.3K | $33.0K | $3.2M | $1.1M | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | -$7.6M | -$15.5M | -$14.1M | -$17.4M | -$22.4M | -$23.3M | -$21.0M | -$22.9M | -$24.3M | -$10.3M |
Recent filings and events
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Change of control Control of the company has changed hands. Item 5.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event Item 8.01
- Delisting notice Item 3.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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