Matinas BioPharma Holdings (NYSE American: MTNB), a clinical-stage biopharmaceutical company, recently closed its $50 million follow-on. The underwritten public offering consisted of 32,260,000 shares of the company’s common stock that were sold at a public offering price of $1.55 per share, therefore resulting in gross proceeds of roughly $50 million to Matinas BioPharma. The company also granted the underwriters a 30-day option to acquire up to an additional 4,839,000 shares to cover any overallotments in connection with the offering. ROTH Capital Partners served as co-manager for the offering.
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About Matinas BioPharma
Matinas BioPharma is a clinical-stage biopharmaceutical company focused on development of its lead product candidate, MAT9001, for the treatment of cardiovascular and metabolic conditions. MAT9001 is a prescription-only omega-3 fatty acid-based composition, comprised primarily of EPA and DPA, under development for hypertriglyceridemia, that was specifically designed to overcome the shortcomings seen from other agents in the omega-3 class. Company leadership has a deep history and knowledge of cardiovascular drug development and is supported by a world-class team of scientific advisors. In addition, the company is developing MAT2203, an oral, encochleated formulation of amphotericin B, to treat serious invasive fungal infections. The drug is based on the company’s proprietary lipid nano-crystal (“LNC”) platform technology which can help solve complex challenges relating to the safe and effective delivery of potent medicines, potentially making them more targeted, less toxic and orally bioavailable. For more information, visit the company’s website at www.MatinasBioPharma.com.
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