Matinas BioPharma Reports $1.656 Million Net Loss in Q1 2025, Down from $5.824 Million

Matinas BioPharma Holdings, Inc. reported a net loss of $1.656 million for the first quarter of 2025, a significant reduction from the $5.824 million loss recorded in the same period of 2024. The company’s total operating expenses decreased to $1.946 million from $5.902 million year-over-year, primarily due to a substantial drop in research and development (R&D) expenses, which fell to $85,000 from $3.446 million. This decline in R&D spending is attributed to a pause in the development of its lead product candidate, MAT2203, and a reduction in workforce costs.

In terms of financial position, Matinas reported total assets of $12.035 million as of March 31, 2025, down from $12.641 million at the end of 2024. The decrease in total assets was driven by a reduction in cash and cash equivalents, which stood at $6.924 million compared to $7.284 million at the end of the previous fiscal year. The company’s liabilities increased to $5.765 million from $5.051 million, largely due to the establishment of a warrant liability of $1.333 million following a private placement of preferred stock and warrants in February 2025.

Strategically, Matinas has been active in securing funding through private placements. In February 2025, the company completed an initial closing of a private placement, raising $1.65 million by issuing 1,650 shares of Series C Convertible Preferred Stock and warrants. A second closing occurred in April 2025, generating an additional $1.65 million. The proceeds from these transactions are intended to support the company’s operations and development efforts, although management has expressed concerns regarding the sufficiency of cash reserves to fund operations beyond the next twelve months.

Operationally, Matinas has not reported significant changes in customer counts or product adoption rates, as the focus remains on advancing its clinical programs. The company continues to explore partnerships to monetize the value of MAT2203 and is evaluating other strategic options, including potential mergers or licensing agreements. As of the end of the first quarter, the company had 5,086,985 shares of common stock outstanding, unchanged from the previous quarter, and a total of 9,597,262 potentially dilutive securities excluded from the computation of diluted net loss per share.

Looking ahead, Matinas anticipates that its operating expenses will remain lower in the near term, contingent upon securing additional funding to support the initiation of the Phase 3 registration trial for MAT2203. The company expects to continue incurring substantial losses as it seeks to advance its product candidates and develop its lipid nanocrystal platform technology. However, the ability to raise capital remains a critical factor for the company’s future operations and growth strategy.