Matinas BioPharma Holdings, Inc. Approved to Trade on OTCQB Venture Stage Marketplace
BEDMINSTER, N.J., Sept. 8, 2014 (GLOBE NEWSWIRE) -- Matinas BioPharma Holdings, Inc. ("Matinas BioPharma" or the "Company") (OTCQB:MTNB), an emerging biopharmaceutical company focused on the development and commercialization of omega-3 fatty acid-based prescription therapeutics for the treatment of cardiovascular and metabolic conditions, today announced it has been approved to continue quotation of its securities on OTCQB, the venture stage marketplace (the "OTCQB"), effective as of September 5, 2014. The Company's shares will continue to trade under the ticker symbol "MTNB."
Roelof Rongen, President and Chief Executive Officer of Matinas BioPharma, commented, "We are extremely pleased that the OTC Markets approved our application to move from OTC Pink and continue trading on the transparent and respected OTCQB venture stage marketplace. The Company has worked diligently to continue to improve its business fundamentals and wholeheartedly supports the mission of the OTC Markets Group to provide increased transparency to investors so that they can properly analyze, value and trade their securities. We are proud to now be trading on the OTCQB with the goal of graduating to a national exchange at a future date."
The OTCQB marketplace helps investors easily identify OTC-traded companies that report to the Securities and Exchange Commission, and it has replaced OTC Bulletin Board as the standard designation for the vast majority of this category of OTC companies. Recently, OTC Markets has established new eligibility standards for companies to be able to trade on the OTCQB Marketplace. These new standards are aimed at improving information available to investors and providing a better venture stage marketplace for early and developing U.S. and international companies. Subsequent to the implementation of these new standards, new issuers were automatically placed on the OTC Pink Marketplace and those companies trading on the OTCQB who do not comply with the new procedures within the required timeframe will be downgraded to OTC Pink.
MAT9001 is a proprietary prescription-only omega-3 fatty acid-based composition, comprised of a complex mixture of omega-3 fatty acids which is under development for therapeutic applications, with severe hypertriglyceridemia (TG>500 mg/dL) as the lead indication. Based on promising early data, the Company is preparing to file an Investigational New Drug Application (IND) with the U.S. Food and Drug Administration (FDA) and initiate its first human study late in the third quarter/early fourth quarter 2014. The Company believes that its development program and related clinical investigations may yield an improved therapeutic profile compared to existing therapies, based on MAT9001's differentiating mechanistic features associated with its unique composition.
About Matinas BioPharma
Matinas BioPharma is a development stage biopharmaceutical company, founded in 2011, with a focus on identifying and developing novel pharmaceutical products for the treatment of abnormalities in blood lipids, referred to as dyslipidemia, and the treatment of cardiovascular and metabolic diseases. Led by an experienced management team and a board of directors with a history of building pharmaceutical companies, Matinas is focused on creating the next generation of omega-3-fatty-acid-based pharmaceutical products. Our lead product, MAT9001, which takes advantage of advancements in the field of lipidomics, has been specifically designed and formulated for therapeutic applications in the dyslipidemia field. For more information, please visit www.matinasbiopharma.com.
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 the Company's product development, clinical and regulatory timelines, market opportunity, cash flow and other statements that are predictive in nature, that depend upon or refer to future events or conditions. All statements other than statements of historical fact are statements that could be forward-looking statements. Forward-looking statements include words such as "expects," "anticipates," "intends," "plans," "could", "believes," "estimates" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from any future results expressed or implied by the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, our ability to successfully complete research and further development and commercialization of MAT9001; our ability to obtain additional capital to meet our liquidity needs on acceptable terms, or at all, including the additional capital which will be necessary to complete the clinical trials for MAT9001; the uncertainties inherent in clinical testing; the timing, cost and uncertainty of obtaining regulatory approvals; our ability to protect the Company's intellectual property; the loss of any executive officers or key personnel or consultants; competition; changes in the regulatory landscape or the imposition of regulations that affect the Company's products; and the other factors listed under "Risk Factors" in our filings with the SEC, including Forms 10-K, 10-Q and 8-K. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this release. Except as may be required by law, the Company does not undertake any obligation to release publicly any revisions to such forward-looking statement to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Matinas BioPharma's lead product candidate MAT9001 is in a development stage and is not available for sale or use.
CONTACT: Investor and Media Contact Jenene Thomas Investor Relations and Corporate Communications Advisor Jenene Thomas Communications, LLC Phone: (908) 938-1475 Email: email@example.com
Released September 8, 2014