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BEDMINSTER, N.J., Feb. 27, 2017 (GLOBE NEWSWIRE) -- Matinas BioPharma Holdings, Inc. (OTCQB:MTNB), a clinical-stage biopharmaceutical company focused on developing innovative anti-infectives for orphan indications, announced today that its common stock has been approved for listing on the NYSE MKT. The Company’s common stock is expected to begin trading on NYSE MKT under the symbol “MTNB” beginning on March 2, 2017. The Company’s common stock will continue to trade on the OTCQB until the close of the market on March 1, 2017.
“We welcome Matinas BioPharma Holdings, Inc. to NYSE MKT, where it joins other innovative healthcare companies that take advantage of our market model combining leading technology and human oversight for listing and trading their shares,” said John Tuttle, NYSE Global Head of Listings. “We look forward to providing the unique benefits of our market, brand and network to the company and its stockholders.”
Roelof Rongen, Co-founder and Chief Executive Officer of the Company, stated, “Uplisting to the NYSE MKT represents an important corporate milestone for Matinas and a key piece of the equation in our plan to enhance shareholder value by increasing stock liquidity and exposure to institutional investors. As we have advanced our business, clinical and regulatory strategies, we are rapidly approaching key data readouts for our lead anti-infective clinical development programs in the first and second quarters of this year.”
“Today’s announcement is a significant accomplishment, highlighting the progress our management team and Board have made in executing on the strategic vision laid out last fall. That vision included plans to simplify our capital structure and be more proactive in expanding our communications with prospective investors. This transition greatly expands the pool of potential investors and comes with many other benefits as well. We are grateful for all of the assistance provided by the NYSE MKT team in making this happen and are excited to enter this next phase in our corporate evolution,” commented Jerome D. Jabbour, Co-founder and President of the Company.
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 drug candidate MAT2203, currently in Phase 2, is an orally-administered, encochleated formulation of amphotericin B (a broad spectrum fungicidal agent). The Company has an open Investigational New Drug (IND) application for MAT2501, currently in Phase 1, which is an orally-administered, encochleated formulation of amikacin (a broad spectrum aminoglycoside antibiotic agent) for acute bacterial infections, including non-tuberculous mycobacterium (NTM) and multi-drug resistant gram-negative bacterial infections.
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. For more information, please visit www.matinasbiopharma.com and connect with the Company on Twitter, LinkedIn, Facebook, and Google+.
Forward Looking Statements: This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including those relating to enhancement of shareholder value, the Company’s strategy relating to uplisting to a national securities exchange and the Company’s future ability to increase liquidity and attract institutional investors. Such forward-looking statement are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Readers are urged to read the risk factors set forth in the Company’s most recent annual report on Form 10-K, subsequently filed reports filed on Form 10-Q, and other filings made with the SEC. Copies of these reports are available from the SEC’s website at www.sec.gov or without charge from the Company on its website at www.matinasbiopharma.com. Matinas BioPharma's product candidates are all in a development stage and are not available for sale or use.
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