Matinas BioPharma Announces Closing of Public Offering of Common Stock

World News: . []

BEDMINSTER, N.J., Jan. 14, 2020 (GLOBE NEWSWIRE) -- Matinas BioPharma Holdings, Inc. (“Matinas BioPharma” or the “Company”) -- (NYSE AMER: MTNB), a clinical-stage biopharmaceutical company, today announced the closing  of its underwritten registered public offering of 32,260,000 shares of its common stock, offered at a price to the public of $1.55 per share for gross proceeds of approximately $50.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses. In addition, Matinas BioPharma has granted the underwriters a 30-day option to purchase up to an additional 4,839,000 shares of its common stock on the same terms and conditions. All of the shares in the offering are being sold by Matinas BioPharma.

Piper Sandler & Co. acted as the sole lead active bookrunner for the offering.  SunTrust Robinson Humphrey also acted as a bookrunner for the offering. BTIG, LLC acted as lead manager and H.C. Wainwright & Co., Maxim Group LLC and Roth Capital Partners acted as co-managers for the offering.

Matinas BioPharma anticipates using the net proceeds from the offering for ongoing development activities for its product candidates, primarily MAT9001, and for working capital and other general corporate purposes.

A shelf registration statement on Form S-3 (File No. 333-217106) relating to the public offering of the shares of common stock described above was declared effective by the Securities and Exchange Commission (the “SEC”) on April 12, 2017. The offering was made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A final prospectus supplement and accompanying base prospectus relating to the offering was filed with the SEC and is available on the SEC’s website at  and may also be obtained by contacting Piper Sandler & Co., 800 Nicollet Mall, J12S03, Minneapolis, MN, 55402, Attention: Prospectus Department, by telephone at (800) 747-3924 or by email at .

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

Matinas BioPharma is a clinical-stage biopharmaceutical company focused on development of its lead product candidate, MAT9001, for the treatment of cardiovascular and metabolic conditions. MAT9001 is a prescription-only omega-3 fatty acid-based composition, comprised primarily of EPA and DPA, under development for hypertriglyceridemia, that was specifically designed to overcome the shortcomings seen from other agents in the omega-3 class. Company leadership has a deep history and knowledge of cardiovascular drug development and is supported by a world-class team of scientific advisors.

In addition, the Company is developing MAT2203, an oral, encochleated formulation of amphotericin B, to treat serious invasive fungal infections. The drug is based on the Company’s proprietary lipid nano-crystal (LNC) platform technology which can help solve complex challenges relating to the safe and effective delivery of potent medicines, potentially making them more targeted, less toxic and orally bioavailable.

Peter VozzoWestwicke443-213-0505 

Ian CooneyDirector – Investor Relations & Corporate DevelopmentMatinas Biopharma, Inc.(415) 722-4563 

Source: Matinas BioPharma Holdings, Inc.

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Globe Newswire: 16:21 GMT Tuesday 14th January 2020

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