Matinas BioPharma Holdings, Inc.

Listed Company

MTNBCIK 0001582554NYSENon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-10.35M

Total Assets

$7.21M

Equity

$4.83M

Shares Out

6.41M

Op. Cash Flow

$-7.01M

Business

Matinas BioPharma Holdings, Inc. is a clinical-stage biopharmaceutical company developing therapies using its lipid nanocrystal (LNC) delivery platform. Its main product candidate is MAT2203, an oral formulation of amphotericin B, and the company also maintained early-stage programs leveraging the LNC Platform for oncology and inflammation prior to pausing internal development. Key business activities include clinical development, intellectual property prosecution and licensing of LNC technology, plus support of a compassionate/expanded access program. MAT2203 clinical development and potential commercialization rely on clinical trial sites and partnerships across the U.S., Europe, South America, Middle East and Asia Pacific.

Summary from filing dated 2025-04-15

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Research and development	85,000	11	14	17	15
General and administrative	7	9	10	11	10
Impairment charges of goodwill and other intangible assets	—	2	—	—	—
Impairment charges of other assets	—	2	—	—	—
Total costs and expenses	7	25	25	28	25
Loss from operations	−7	−25	−24	−25	−25
Change in fair value of warrant liability	−3	—	—	—	—
Gain on sale of assets	37,000	—	—	—	—
Other (expenses)/income, net	−261,000	262,000	340,000	102,000	124,000
Loss before tax	−10	−24	−23	—	—
Income tax benefit	—	80,000	—	—	—
Net loss	−10	−24	−23	−21	−23
Deemed dividend relating to warrant exchange	−618,000	—	—	—	—
Net loss attributable to common shareholders	−11	−24	—	−21	−24
Net loss per share - basic	−2	−4.98	−5.28	−0.1	−0.11
Net loss per share - diluted	−2	−4.98	−5.28	−0.1	—
Weighted average common shares outstanding - basic	5	5	4	217	210
Weighted average common shares outstanding - diluted	5	5	4	217	—
Unrealized gain on securities available-for-sale	—	221,000	603,000	−679,000	−374,000
Other comprehensive gain, net of tax	—	221,000	603,000	−679,000	−374,000
Comprehensive loss	−10	−24	−22	−22	−24

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-11-30	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	4	—	7	5	7
Restricted cash security deposit	50,000	—	50,000	50,000	50,000
Prepaid expenses and other current assets	26,000	—	691,000	2	6
Total current assets	4	—	8	16	35
Leasehold improvements and equipment - net	138,000	—	468,000	2	2
Operating lease right-of-use assets - net	531,000	207,000	2	3	4
Finance lease right-of-use assets - net	4,000	—	8,000	21,000	30,000
In-process research and development	2	—	2	3	3
Restricted cash - security deposit	200,000	—	200,000	200,000	200,000
Total non-current assets	3	—	5	10	10
Total assets	7	—	13	25	45
Accounts payable	315,000	—	95,000	514,000	618,000
Accrued expenses and other liabilities	452,000	—	2	1	—
Operating lease liabilities - current	694,000	—	761,000	656,000	562,000
Financing lease liabilities - current	2,000	—	5,000	5,000	7,000
Total current liabilities	1	—	3	3	4
Deferred tax liability	257,000	—	257,000	341,000	341,000
Operating lease liabilities - net of current portion	653,000	—	2	3	4
Financing lease liabilities - net of current portion	5,000	—	12,000	18,000	22,000
Total non-current liabilities	915,000	—	2	3	4
Total liabilities	2	—	5	6	8
Series C Convertible preferred stock, stated value $1,000 per share, par value $0.0001 per share, 10,000,000 shares authorized at December 31, 2025 and 2024; 3,155 and 0 issued and outstanding as of December 31, 2025 and 2024, respectively. Liquidation preference of $3,155,000 as of December 31, 2025.	—	—	—	—	—
Common stock par value $0.0001 per share, 500,000,000 and 250,000,000 shares authorized at December 31, 2025 and 2024, respectively; 6,406,191 and 5,086,985 issued and outstanding as of December 31, 2025 and 2024, respectively	1,000	—	1,000	—	22,000
Additional paid-in capital	216	—	207	—	—
Accumulated deficit	−211	—	−200	−176	−153
Total stockholders equity	5	—	8	19	37
Total liabilities and stockholders equity	7	—	13	25	45

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	32,000	365,000	385,000	337,000	244,000
Net gain on disposal of assets	−37,000	—	—	—	—
Stock-based compensation expense	1	3	5	5	4
Loss on operating lease right-of-use assets modification	241,000	—	—	—	—
Amortization of operating lease right-of-use assets	420,000	602,000	548,000	542,000	501,000
Amortization of finance lease right-of-use assets	4,000	5,000	8,000	19,000	36,000
Amortization of bond premium	—	−17,000	107,000	211,000	250,000
Income tax benefit	—	−84,000	—	—	—
Prepaid expenses and other current assets	665,000	587,000	4	−4	1
Accounts payable	220,000	−419,000	−103,000	−321,000	588,000
Accrued expenses and other liabilities	−1	356,000	−2	249,000	57,000
Operating lease liabilities	−1	−655,000	−562,000	−520,000	−460,000
Net cash used in operating activities	−7	−16	−15	−19	−15
Proceeds from sale of assets	335,000	—	—	—	—
Purchases of marketable debt securities	—	−8	—	−9	−23
Proceeds from sales of marketable debt securities	—	18	13	15	40
Net cash provided by investing activities	335,000	9	13	5	17
Gross proceeds from private placement of preferred stock and common stock warrants	3	—	—	—	—
Transaction costs paid pursuant to private placement	−29,000	—	—	—	—
Net proceeds from exercise of warrants	129,000	—	—	—	—
Net proceeds from public offerings of common stock and warrants	—	9	—	—	—
Payments of capital lease liability principal	−9,000	−5,000	−7,000	−20,000	−30,000
Net cash provided by financing activities	3	9	−7,000	79,000	7
Net (decrease)/increase in cash, cash equivalents and restricted cash	−3	2	−2	−14	9
Reclassification of warrants from liability to equity	6	—	—	—	—
Unrealized gain on marketable debt securities	—	221,000	603,000	−679,000	−374,000
Exchange of warrants for shares of common stock	618,000	—	—	—	—
Reduction of right-of-use assets and lease liabilities on lease termination	488,000	—	—	—	—

Filings

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