Aegis Capital has reiterated its ‘Buy’ rating and price target of $8 on Matinas BioPharma (NYSE: MTNB). Aegis cited positive results from the company’s phase 1 clinical trial of the safety, tolerability and pharmacokinetics of MAT2501, its cochleated version of amikacin used to treat different types of chronic and acute bacterial infections. Although mild adverse events on the gastrointestinal system were reported, they decreased when the drug was administered with food. No serious adverse events were reported. Aegis also noted recent, critical comments posted to a financial website, which the analyst believes to be incorrect and responsible for recent volatility in Matinas’ stock.
For more information, visit www.matinasbiopharma.com
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 is an orally-administered, encochleated formulation of amphotericin B (a broad spectrum fungicidal agent). MAT2203 is currently being studied in two separate phase 2 studies with topline results of each trial expected to be announced in the second quarter of 2017. MAT2501, the company’s 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, reported positive topline data from the phase 1 single-ascending dose study in healthy volunteers. Matinas is advancing its MAT2501 phase 1 program in preparation of a phase 2 study in patients.
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