Matinas BioPharma Holdings, Inc.

Matinas BioPharma Holdings, Inc. announced a definitive business combination agreement with GH Power Inc. to create a new NYSE-listed critical minerals and clean energy company, GHP International. Concurrently, Matinas will sell its Matinas BioPharma Nanotechnologies, Inc. subsidiary, including MAT2203 and the LNC technology platform, to Azurity Pharmaceuticals for $4.0 million upfront, up to $17.5 million in potential milestones, and future royalties. Additionally, Matinas completed financings, raising $575,000 from a PIPE and approximately $2.6 million from a warrant inducement, with proceeds intended for working capital.

Matinas BioPharma Holdings, Inc. announced it received a notice from NYSE American for non-compliance with continued listing standards, specifically regarding stockholders' equity falling below required thresholds of $4.0 million and $6.0 million, and sustained losses over five fiscal years. As of March 31, 2026, stockholders' equity was $3.02 million. However, NYSE American has accepted the Company's plan to regain compliance and granted a plan period through October 2, 2027, allowing its shares to continue trading during this time.

Matinas BioPharma reported a net loss of $(1.92) million for Q1 2026, an increase from $(1.66) million in Q1 2025. The company's cash and cash equivalents significantly decreased by 40% to $2.40 million as of March 31, 2026, leading to a "substantial doubt" about its ability to continue as a going concern. The company is focused on monetizing MAT2203, conserving cash, and exploring strategic options like partnerships or a merger.