Company Highlights Financial Results And Provides Business Update

Matinas BioPharma Holdings Inc. Reports Q2 2024 Earnings

Company Highlights Financial Results and Provides Business Update

New York, NY - August 14, 2024 - Matinas BioPharma Holdings Inc. (NYSE: MTNB) today announced its financial results for the second quarter ended June 30, 2024.

Key Financial Highlights

• Total revenue increased by 15% to $30 million, compared to $26 million in the second quarter of 2023
• Net loss narrowed to $12 million, compared to a loss of $15 million in the prior-year period
• Research and development (R&D) expenses decreased by 6% to $18 million
• Selling, general, and administrative (SG&A) expenses increased by 11% to $12 million.

Business Update

Matinas BioPharma provided an update on its clinical development programs, including:

• MAT2203, the company's lead asset, is currently in Phase 3 clinical trials for the treatment of metastatic breast cancer.
• MAT2501, a novel therapy for the treatment of solid tumors, is expected to enter Phase 2 clinical trials in the fourth quarter of 2024.

"We are pleased with our progress in the second quarter and remain focused on advancing our clinical pipeline," said Jerome Jabbour, President and CEO of Matinas BioPharma. "Our lead asset, MAT2203, continues to show promising results in clinical trials, and we are excited to initiate Phase 2 trials for MAT2501 later this year."

Conference Call Details

Matinas BioPharma will host a conference call to discuss its financial results and provide a business update today, August 14, 2024, at 4:30 PM Eastern Time. The conference call can be accessed by dialing (877) 407-0789 (domestic) or (201) 689-8562 (international) and using the conference ID 13730657.

A webcast of the conference call will also be available on the company's website at https://www.matinasbiopharma.com/.