Matinas BioPharma (MTNB) Q1 2026 earnings summary

Executive summary

• Clinical-stage biopharma focused on lipid nanocrystal (LNC) platform, seeking partners to monetize MAT2203 and conserve cash while evaluating strategic options.

• Net loss for Q1 2026 was $1.92M, up from $1.66M in Q1 2025; accumulated deficit reached $212.7M as of March 31, 2026.

• Substantial doubt exists about ability to continue as a going concern due to insufficient cash to fund operations for the next 12 months.

Financial highlights

• Cash and cash equivalents at March 31, 2026 were $2.4M, down from $4.0M at year-end 2025.

• Total assets decreased to $5.87M from $7.21M at December 31, 2025.

• Stockholders’ equity declined to $3.02M from $4.83M at year-end 2025.

• No revenue reported; operating expenses for Q1 2026 were $1.94M, flat year-over-year.

• Net cash used in operating activities was $1.60M for Q1 2026, compared to $2.01M in Q1 2025.

Outlook and guidance

• Operating expenses expected to remain lower in the near term until a partnership or transaction is secured.

• Research and development expenses will increase if additional clinical studies are initiated.

• Company expects to continue incurring substantial losses for the foreseeable future.