Aegis Capital has issued a ‘Buy’ rating and price target of $8 on shares of Matinas BioPharma’s (NYSE: MTNB) stock. The news follows the company’s report of financial results for the year ended December 31, 2016, for which the company reported cash and cash equivalents of approximately $4.1 million. The analyst noted this cash position and said he expects the company to end the first quarter of 2017 with approximately $14 million and enough cash to fund operations through the second quarter of 2018. The company also recently provided a clinical update, such as plans to initiate a study of MAT2203 for prevention of fungal infections in patients with hematological malignancies. Additionally, Matinas is planning an ascending dose study for pharmacokinetics and tolerability of MAT2501, a cochleated version of amikacin, in healthy volunteers.
For more information visit www.matinasbiopharma.com
About Matinas BioPharma
Matinas BioPharma is a clinical-stage biopharmaceutical company focused on developing innovative anti-infectives for orphan indications. The company’s proprietary, disruptive technology utilizes lipid-crystal nano-particle cochleates to nano-encapsulate existing drugs, making them safer, more tolerable, less toxic and orally bioavailable. The company’s lead anti-infective product candidates, MAT2203 and MAT2501, position Matinas BioPharma to become a leader in the safe and effective delivery of anti-infective therapies utilizing its proprietary lipid-crystal nano-particle cochleate formulation technology.
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