aibioMatinas BioPharma receives NYSE American stockholders' equity notice
Tickers MTNB
The exchange says stockholders' equity was $1.8 million at June 30, 2026, below the $2.0 million standard, and the listing continues under an accepted plan through October 2, 2027.
Key facts
- Company
- Matinas Biopharma Holdings, Inc. (AMEX: MTNB)
- News type
- Listings
- Primary source
- Matinas Biopharma Holdings, Inc. 8-K (2026-09-04)
Matinas BioPharma Holdings, Inc. said on September 4, 2026 that it received a notice from NYSE American LLC on August 31, 2026, stating that the company is not in compliance with the exchange's continued listing standards. The company announced the notice in a press release furnished with a Form 8-K. The notice concerns Section 1003(a)(i) of the NYSE American Company Guide, which requires a company that has reported losses from continuing operations or net losses in two of its three most recent fiscal years to have stockholders' equity of at least $2.0 million.
The equity shortfall
As of June 30, 2026, Matinas had stockholders' equity of $1.8 million. The release says the company has reported losses from continuing operations or net losses in each of its five most recent fiscal years, ended December 31, 2025. It also says the company was already not in compliance with Section 1003(a)(ii) and Section 1003(a)(iii) of the Company Guide, which the company had previously disclosed. Because of the noncompliance with all three sections, the company 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 to regain compliance with the continued listing standards. The exchange accepted the plan and granted a plan period through October 2, 2027. The release says that if the company is not in compliance with all stockholders' equity standards by that deadline, or does not make progress consistent with the plan during the period, the NYSE American will initiate delisting proceedings as appropriate.
The notice has no immediate effect on the listing. The shares will continue to be listed and traded on NYSE American during the plan period, subject to the company's compliance with the exchange's other listing requirements. Matinas will remain on the exchange's list of noncompliant issuers, and the .BC indicator will continue to appear next to its ticker symbol until the company regains compliance with all applicable continued listing standards.
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, an antifungal drug.
The release describes MAT2203 as a potential oral broad-spectrum treatment for invasive fungal infections, noting that the intravenous forms of amphotericin B carry risks such as renal toxicity and anemia. It also says MAT2203 met its primary endpoint in the completed Phase 2 EnACT study in patients with HIV and cryptococcal meningitis.
The pause and the partnership search
The annual report says that following an 80% reduction in workforce in late October 2024, the company paused further clinical development of MAT2203 and continues talks with prospective partners toward a licensing, sale or similar transaction. It has also paused internal development of LNC-based programs in oncology and inflammatory diseases while it evaluates strategic alternatives for them. The company 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.
Year-end cash and cash equivalents were $4.0 million at December 31, 2025, against $7.3 million a year earlier, according to the quarterly report filed August 13, 2026. Cash and cash equivalents were $761,000 at June 30, 2026.
The risks ahead
The company has until October 2, 2027 to meet all the stockholders' equity standards, and the exchange says it will start delisting proceedings if it does not or if it falls short of its plan. Stockholders' equity was $1.8 million at June 30, 2026, and cash and cash equivalents were $761,000. The company says it needs a partnership transaction or added capital to begin the ORALTO trial. The release says its plans are subject to risks and uncertainties.