Matinas biopharma announces the termination of mat2203 partnership negotiations and implements immediate workforce reduction

Bedminster, n.j., oct. 31, 2024 (globe newswire) -- matinas biopharma holdings, inc. (nyse american: mtnb) announces that negotiations under the previously disclosed non-binding term sheet regarding global rights to mat2203, its oral formulation of amphotericin b, have been terminated following notification from the prospective partner. as a result, matinas has implemented an 80% workforce reduction effective immediately, eliminating 15 positions including three members of senior management, and has ceased all product development activities to conserve cash.
MAT Ratings Summary
MAT Quant Ranking