Matinas BioPharma Holdings, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Matinas BioPharma Holdings, Inc. has filed its 2023 annual report (10-K) detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

Matinas BioPharma Holdings, Inc. (MTNB) filed a Annual Report (10-K) with the SEC on March 27, 2024. Matinas BioPharma Holdings, Inc. filed its 2023 Form 10-K on March 27, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is 1545 Route 206 South, Suite 302, Bedminster, NJ 07921. Matinas BioPharma is in the Pharmaceutical Preparations industry (SIC code 2834). The filing includes data related to common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income for fiscal years 2021-2023.

Why It Matters

For investors and stakeholders tracking Matinas BioPharma Holdings, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Matinas BioPharma's financial health, operational activities, and strategic direction for the past fiscal year, which is crucial for investors to assess the company's current standing and future prospects. The detailed financial statements and disclosures within the 10-K are essential for understanding the company's financial position, including its assets, liabilities, equity, and any changes in these accounts, as well as its performance in the pharmaceutical preparations sector.

Risk Assessment

Risk Level: low — Matinas BioPharma Holdings, Inc. shows low risk based on this filing. The filing is a standard 10-K annual report, which is a routine disclosure for publicly traded companies and does not inherently contain new, high-risk information.

Analyst Insight

Review the detailed financial statements and management discussion and analysis within the 10-K to understand Matinas BioPharma's financial performance and strategic priorities for 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-03-27 — Filing Date (Filed as of date)

Key Players & Entities

• Matinas BioPharma Holdings, Inc. (company) — Filer name
• Bedminster, NJ 07921 (location) — Business address
• 2834 (industry_code) — Standard Industrial Classification
• 20231231 (date) — Conformed period of report
• 20240327 (date) — Filed as of date

FAQ

Industry Context

Matinas BioPharma Holdings, Inc. operates within the pharmaceutical preparations industry, focusing on the development of novel therapeutics.

Regulatory Implications

The company is subject to standard SEC regulations for public filings, including the requirement to submit annual reports on Form 10-K.

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and net income/loss.
2. Review the 'Business' section for details on drug development pipeline and strategy.
3. Examine the 'Risk Factors' section for potential challenges and uncertainties.

Key Dates

• 2023-12-31: Fiscal Year End — Covers the reporting period for the 10-K filing.
• 2024-03-27: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing data extracted from the 10-K, and a comparison to a previous filing would require data from a prior period's report.

Key Financial Figures

• $0.0001 M — ch Registered Common Stock, par value $0.0001 MTNB NYSE American Securities registe
• $0.0001 — hares of the registrant's common stock, $0.0001 par value, outstanding. DOCUMENTS INC

Filing Documents

• form10-k.htm (10-K) — 1824KB
• ex4-6.htm (EX-4.6) — 28KB
• ex19-1.htm (EX-19.1) — 98KB
• ex21-1.htm (EX-21.1) — 3KB
• ex23-1.htm (EX-23.1) — 5KB
• ex31-1.htm (EX-31.1) — 8KB
• ex31-2.htm (EX-31.2) — 8KB
• ex32-1.htm (EX-32.1) — 7KB
• ex97-1.htm (EX-97.1) — 32KB
• form10-k_001.jpg (GRAPHIC) — 19KB
• form10-k_002.jpg (GRAPHIC) — 36KB
• form10-k_003.jpg (GRAPHIC) — 26KB
• form10-k_004.jpg (GRAPHIC) — 32KB
• 0001493152-24-011493.txt (&nbsp;) — 7180KB
• mtnb-20231231.xsd (EX-101.SCH) — 41KB
• mtnb-20231231_cal.xml (EX-101.CAL) — 77KB
• mtnb-20231231_def.xml (EX-101.DEF) — 150KB
• mtnb-20231231_lab.xml (EX-101.LAB) — 363KB
• mtnb-20231231_pre.xml (EX-101.PRE) — 303KB
• form10-k_htm.xml (XML) — 849KB

Business

Business 2 Item 1A.

Risk Factors

Risk Factors 40 Item 1B. Cybersecurity 68 Item 2.

Properties

Properties 69 Item 3.

Legal Proceedings

Legal Proceedings 69 Item 4. Mine Safety Disclosures 69 PART II 69 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 69 Item 6. [Reserved] 69 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 70 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 75 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 76 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 76 Item 9A.

Controls and Procedures

Controls and Procedures 76 Item 9B. Other Information 77 PART III 77 Item 10. Directors, Executive Officers and Corporate Governance 77 Item 11.

Executive Compensation

Executive Compensation 82 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 89 Item 13. Certain Relationships, Related Transactions, and Director Independence 90 Item 14. Principal Accounting Fees and Services 91 PART IV 92 Item 15. Exhibits and Financial Statement Schedules 92 Item 16. Form 10-K Summary 93

Financial Statements

Financial Statements F-1 i PART I CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This report on Form 10-K contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "can," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "seek," "estimate," "continue," "plan," "point to," "project," "predict," "could," "intend," "target," "potential" and other similar words and expressions of the future. There are a number of important factors that could cause the actual results to differ materially from those expressed in any forward-looking our ability to raise additional capital to fund our operations and to develop our product candidates; our anticipated timing for preclinical development, regulatory submissions, commencement and completion of clinical trials and product approvals; our history of operating losses in each year since inception and the expectation that we will continue to incur operating losses for the foreseeable future; our dependence on product

Business

Business Company Overview We are a clinical-stage biopharmaceutical company focused on delivering groundbreaking therapies using our lipid nanocrystal (LNC) platform delivery technology (LNC Platform). We are seeking to develop an internal pipeline of products utilizing the LNC Platform to successfully encapsulate small molecules and small oligonucleotides and facilitate targeted and extrahepatic delivery to desired cells and tissues without toxicity. In addition, we believe the LNC Platform can also support building an external pipeline of products for leading pharmaceutical companies seeking to develop novel formulations that capitalize on the unique characteristics of the LNC Platform to facilitate, enhance and optimize the delivery of complex molecules, including small molecules, antisense oligonucleotides (ASOs) and silencing or short interfering RNAs (siRNAs). Our current lead product candidate is MAT2203 (oral amphotericin B), a highly potent antifungal drug which, by virtue of LNC delivery, has been made oral, safe, and well-tolerated for prolonged administration in patients with life-threatening invasive fungal infections. Following the successful EnACT Phase 2 trial in the treatment of cryptococcal meningitis, MAT2203 is now positioned for a single, Phase 3 registration trial (the ORALTO trial) in support of a New Drug Application (NDA) for the treatment of invasive aspergillosis in patients with limited treatment options. Additional internal discovery programs are currently directed at: 1. the safe and effective delivery of chemotherapeutic agents for oncology applications; and, 2. the formulation and delivery of small oligonucleotides, such as antisense oligonucleotides (ASOs) and silencing or short interfering RNAs (siRNAs), with a primary therapeutic focus on inflammation. We are dedicated to maximizing the value associated with our unique LNC Platform. This proprietary platform technology, which partially relies upon an exclusive world

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View this 10-K filing on SEC EDGAR