aibioMatinas BioPharma receives NYSE American equity notice, plan accepted
Tickers MTNB
NYSE American says Matinas BioPharma fell short of two stockholders' equity standards and accepted its compliance plan, with a plan period through October 2, 2027.
Key facts
- Company
- Matinas Biopharma Holdings, Inc. (AMEX: MTNB)
- News type
- Listings
- Primary source
- Matinas Biopharma Holdings, Inc. 8-K (2026-06-26)
Matinas BioPharma Holdings, Inc. said on June 26, 2026 that it received a notice on June 24, 2026 from NYSE American LLC stating that the company is not in compliance with the exchange's continued listing standards for stockholders' equity. The company announced the notice in a press release furnished with a Form 8-K. The same release reports that the NYSE American has accepted the company's plan to regain compliance and granted a plan period running through October 2, 2027.
The two equity standards
The notice concerns Section 1003(a)(ii) of the NYSE American Company Guide, which requires stockholders' equity of at least $4.0 million for a company that has reported losses from continuing operations or net losses in three of its four most recent fiscal years. As of March 31, 2026, Matinas reported stockholders' equity of $3.02 million. The release says the company has had losses in each of its five most recent fiscal years, ended December 31, 2025.
The company also disclosed earlier that it is not in compliance with Section 1003(a)(iii). That section requires stockholders' equity of at least $6.0 million for a company with losses in its five most recent fiscal years. As of December 31, 2025, the company reported stockholders' equity of $4.83 million. Because it is out of compliance with both sections, Matinas is subject to the procedures and requirements of Section 1009 of the Company Guide.
The plan period
On May 4, 2026, the company submitted a plan to the NYSE American describing actions it has taken or will take to regain compliance. The exchange staff accepted the plan and granted the plan period through October 2, 2027. During that period the company can keep its listing, but it will be subject to periodic reviews, including quarterly monitoring, against the plan until it has regained compliance.
The release states that there can be no assurance the company will achieve compliance within the plan period. If the company is not in compliance with the continued listing standards by the plan period deadline, or does not make progress consistent with the plan during the period, NYSE American staff may initiate delisting proceedings as appropriate.
What the company does
In its annual report on Form 10-K filed March 31, 2026, Matinas describes itself as a clinical-stage biopharmaceutical company that uses a lipid nanocrystal (LNC) platform to deliver therapies. Its lead product candidate is MAT2203, an oral form of amphotericin B. The release describes MAT2203 as a potential oral broad-spectrum treatment for invasive fungal infections. It says MAT2203 met its primary endpoint in the completed Phase 2 EnACT study in patients with HIV and cryptococcal meningitis.
The company says the drug was planned for a single Phase 3 registration trial, the ORALTO trial, in invasive aspergillosis patients with limited treatment options, using an oral step-down after treatment with AmBisome (liposomal amphotericin B).
The pause and the partnership search
The annual report says that following an 80% reduction in workforce in late October 2024, the company cut its costs and paused further clinical development of MAT2203. It continues talks with prospective partners toward a licensing, sale or similar transaction. It says it will require either a partnership transaction or additional capital before it can begin the ORALTO trial.
Financial position
The company's reported figures show research and development expense of $85,000 for the fiscal year ended December 31, 2025, compared with $11.4 million for 2024. The net loss was $10.3 million for 2025 and $24.3 million for 2024. Cash from operations was negative $7.0 million for 2025 and negative $15.9 million for 2024.
The risks ahead
The company has until October 2, 2027 to meet the equity standards, and the release says there can be no assurance it will. Staff may start delisting proceedings if it misses the deadline or falls short of its plan. Stockholders' equity was $3.02 million at March 31, 2026, against a $4.0 million standard. Cash and cash equivalents were $4.0 million at December 31, 2025, and cash from operations was negative $7.0 million for 2025. The company says it needs a partnership transaction or added capital to begin the ORALTO trial.