News Image

Matinas BioPharma Announces the Termination of MAT2203 Partnership Negotiations and Implements Immediate Workforce Reduction

Provided By GlobeNewswire

Last update: Oct 31, 2024

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.

Read more at globenewswire.com

MATINAS BIOPHARMA HOLDINGS I

NYSEARCA:MTNB (7/23/2025, 8:04:00 PM)

0.95

0 (-0.02%)



Find more stocks in the Stock Screener

Follow ChartMill for more