Matinas BioPharma (MTNB) shares are rolling in the pre-market as the company announced the nomination for Board of Directors (BoDs) on September 20, 2021.
After having a slightly downward year in the market, Matinas BioPharma Holdings (MTNB) has begun to recover. MTNB shares have traded in an upward trend since the start of September 2021.
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What’s really pushing the MTNB stock?
In recent days, things have turned out to work in favor of Matinas BioPharma. The company announced Kathryn PenkusCorzo as a nomination to participate in the election of the BoDs at its 2021 Annual Meeting of Stockholders on November 1, 2021.
What could Ms. Corzo possibly bring to the leadership of MTNB?
Ms. Corzo is a biotech executive who has worked in several senior leadership positions for leading biotech and pharmaceutical firms. Currently, she is serving in collaboration with Takeda Ventures and previously served as the Head of Oncology Cell Therapy Development at Takeda Pharmaceuticals.
Kathryn is a seasoned and dexterous executive and will bring market experience to Matinas BioPharma. Her particular achievements with Takeda were the development of Oncology cell therapy pipeline including collaborations with academic and biotech innovation partnerships.
The company is optimistic that with Kathryn they will exceed in developing and expanding the utilization of their LNC platform delivery technology. The LNC platform brings a promising opportunity for the company to revolutionize the intracellular delivery of complex molecules.
Moreover, the company has mentioned that Patrick LePore will not contest the re-election.
In the past week, Matinas BioPharma (MTNB) shares soared over 7% following the positive results in the ongoing EnACT trial of MAT2203. The company reported positive efficacy and safety data from the first two cohorts of patients. The trials are being sponsored by the National Institute of Allergy and Infectious Diseases (NIAID).
Matinas BioPharma highlighted that they have initiated the enrolment for Cohort 3 after the clearance of Cohort 2. The company expects the enrollment for the current batch to be completed by the end of 2021.
What do these results mean for the company and patients?
These outcomes are a major milestone for Matinas and its LNC platform delivery technology. This solution would tackle deadly diseases via LNC technology, which means there will be no more need for highly toxic drugs.
Giving out the stats, the CEO of the company, Jerome D. Jabbour mentioned that the global invasive fungal infection market is projected to reach over $8 billion by 2025. Matinas BioPharma believes if they become successful in achieving drug approval, they can capture quite a portion of this growing market. The demand is already a problem in the biotech industry and the company feels that they can fill the void.
Matinas BioPharma Holdings (MTNB) stock could either go up or down in the long run based on the final outcome of its MAT2203 drug. However, for now, the leadership focuses on starting a new era and continue with positive trials of MAT2203.