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NEW YORK - Investment firm 111 Equity Group, LLC and its principal have increased their collective ownership stake in Matinas Biopharma Holdings, Inc. (NYSE American: MTNB) to 5.17% as of January 2, 2025. Following the Schedule 13D filing with the Securities and Exchange Commission, the principal of 111 Equity purchased additional shares, signaling confidence in the pharmaceutical company's potential for enhancing shareholder value. According to InvestingPro data, the stock has shown strong momentum with a 17% year-to-date return, despite its high volatility (Beta: 1.61).
Matinas Biopharma, which initiated a strategic review in late October 2024, is exploring several options to increase its value. These include potentially monetizing assets such as MAT2203, its lead Phase 3 ready antifungal drug candidate, leveraging its NYSE listing to attract merger candidates, and maintaining a solid balance sheet. InvestingPro analysis indicates the company has a current ratio of 5.53, suggesting strong short-term liquidity, though its overall financial health score remains weak.
Despite a workforce reduction of 80%, 111 Equity believes that Matinas Biopharma's cash reserves, which stood at over $10 million as reported in their latest 10-Q filing on November 13, 2024, remain substantial when compared to the company's market capitalization of just $3.04 million. The cash per share value is estimated at approximately $2.13, which is significantly higher than the stock's closing price of $0.55 on January 16, 2025. Based on InvestingPro's Fair Value analysis, the stock appears undervalued, though investors should note that the company is quickly burning through its cash reserves.
111 Equity has engaged in discussions with Matinas Biopharma's management and plans to continue dialogue during the strategic review process to further the goal of increasing shareholder value. However, the press release from 111 Equity Group clarifies that their views and ownership can change at any time, and they reserve the right to modify their investment strategy without prior notice, except as required by law.
The press release also contains forward-looking statements that are subject to risks and uncertainties, which could cause actual results to differ from those anticipated. For a deeper understanding of these risks and opportunities, investors can access comprehensive analysis and 14 additional ProTips through InvestingPro's detailed research report. These statements are based on analyses of publicly available information and assumptions believed to be reasonable by 111 Equity and its principal, but there is no guarantee of their accuracy or completeness.
Investors are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors identified in Matinas Biopharma's public filings and market information. The information in this article is based on a press release statement and reflects the current views and holdings of 111 Equity Group and its principal.
In other recent news, Matinas BioPharma (NYSE:MTNB) is experiencing significant changes in its corporate structure. The pharmaceutical company recently announced the resignation of Kathryn Penkus Corzo from its Board of Directors and all committee positions. The decision was attributed to Corzo's other professional obligations, with the company confirming her departure did not result from any disagreement or change in its direction.
Matinas BioPharma, which has not disclosed immediate plans for a replacement, also implemented a one-for-fifty reverse stock split, adjusting its capital structure while maintaining stockholder's percentage interests. Furthermore, the firm reported a net loss of $5.7 million for Q2 2024, marking an improvement from the previous year.
The company is also progressing towards finalizing a global partnership for its antifungal medication, MAT2203. These developments reflect recent activities within the company as it continues to navigate the competitive pharmaceutical landscape.
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