Matinas BioPharma (MTNB) investor relations material

Executive summary

• Net loss for the six months ended June 30, 2025 was $6.9M, a significant improvement from $11.5M in the prior year period, driven by reduced R&D and G&A expenses following a pause in the MAT2203 program and workforce reduction.

• Cash and cash equivalents as of June 30, 2025 were $6.5M, with management expressing substantial doubt about the ability to fund operations beyond the next twelve months without additional financing or partnerships.

• Strategic focus is on securing partners to monetize MAT2203 and conserve cash while evaluating other strategic options, including asset in-licensing or a merger.

Financial highlights

• Research and development expenses dropped to $85K for the six months ended June 30, 2025, from $6.8M in the prior year, due to the pause in MAT2203 and headcount reduction.

• General and administrative expenses were $3.7M for the six months ended June 30, 2025, down from $4.9M year-over-year, reflecting lower stock-based compensation and headcount.

• Net cash used in operating activities was $4.0M for the six months ended June 30, 2025, compared to $8.9M in the prior year period.

• Net loss per share for the six months ended June 30, 2025 was $(1.36), compared to $(2.47) in the prior year.

Outlook and guidance

• Operating expenses are expected to remain lower in the near term until additional funding is secured for further clinical development.

• The company anticipates continued operating losses and will require significant additional capital to fund future operations and potential commercialization.