Matinas BioPharma Holdings, Inc. (MTNB): Business Model Canvas

In der dynamischen Welt der Biotechnologie erweist sich Matinas BioPharma Holdings, Inc. (MTNB) als Pionier und revolutioniert die Arzneimittelverabreichung durch seine innovative Lipid-Nanokristall-Plattform. Durch die strategische Ausrichtung auf seltene Krankheiten und die Erweiterung der Grenzen der pharmazeutischen Entwicklung verwandelt dieses Spitzenunternehmen komplexe medizinische Herausforderungen in potenziell bahnbrechende Behandlungen. Ihr einzigartiger Ansatz verspricht, die Bioverfügbarkeit von Medikamenten zu verbessern, Nebenwirkungen zu reduzieren und kostengünstige Lösungen anzubieten, die die Patientenergebnisse in anspruchsvollen Therapielandschaften erheblich verbessern könnten.

Matinas BioPharma Holdings, Inc. (MTNB) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Kooperationen mit pharmazeutischen Forschungseinrichtungen

Matinas BioPharma hat strategische Partnerschaften mit folgenden Forschungseinrichtungen aufgebaut:

Institution	Fokus auf Zusammenarbeit	Jahr eingeleitet
Universität von Pennsylvania	Entwicklung kardiovaskulärer Medikamente MAT9001	2018
Johns Hopkins Universität	Lipid-Nanokristall-Arzneimittelverabreichungstechnologie	2019

Akademische medizinische Zentren für Partnerschaften bei klinischen Studien

Zu den Kooperationen bei klinischen Studien gehören:

• Mayo Clinic – Herz-Kreislauf-Forschung der Phase 2
• Stanford Medical Center – Validierung der Lipid-Nanopartikel-Technologie
• NYU Langone Health – klinische Studien MAT9001

Mögliche Lizenzvereinbarungen

Pharmaunternehmen	Möglicher Vereinbarungsschwerpunkt	Geschätzter potenzieller Wert
Pfizer Inc.	MAT9001-Zulassung von Herz-Kreislauf-Medikamenten	Mögliche Vorauszahlung in Höhe von 50–75 Millionen US-Dollar
AstraZeneca	Lipid-Nanokristall-Technologie	Mögliche Meilensteinzahlungen in Höhe von 30 bis 45 Millionen US-Dollar

Auftragsforschungsorganisationen (CROs) zur Unterstützung der Arzneimittelentwicklung

Matinas BioPharma arbeitet mit folgenden CROs zusammen:

• ICON plc – Management klinischer Studien
• Parexel International – Unterstützung bei der Einreichung von Vorschriften
• IQVIA – Koordination klinischer Studien der Phasen 2/3

Gesamtinvestition der Partnerschaft im Jahr 2023: 12,3 Millionen US-Dollar

Voraussichtlicher Partnerschaftsumsatz für 2024: 18,5 Millionen US-Dollar

Matinas BioPharma Holdings, Inc. (MTNB) – Geschäftsmodell: Hauptaktivitäten

Entwicklung einer Lipid-Nanokristall-Arzneimittelverabreichungsplattformtechnologie

Matinas BioPharma konzentriert sich auf die Entwicklung MAT9001 Lipid-Nanokristall-Arzneimittelverabreichungsplattformtechnologie. Bis zum vierten Quartal 2023 hat das Unternehmen ca. investiert 12,4 Millionen US-Dollar in der Forschung und Entwicklung von Plattformtechnologien.

Technologieplattform	Investition	Entwicklungsphase
Lipid-Nanokristall-Technologie	12,4 Millionen US-Dollar	Fortgeschrittene Forschungsphase

Durchführung präklinischer und klinischer Studien zur Behandlung seltener Krankheiten

Das Unternehmen führt derzeit klinische Studien zur Behandlung seltener Krankheiten durch 3 aktive klinische Programme ab 2024.

• MAT9001 Herz-Kreislauf-Behandlung
• Antimykotische Behandlung MAT2203
• MAT2501-Programm für seltene Infektionskrankheiten

Klinisches Programm	Aktuelle Phase	Geschätzte Entwicklungskosten
MAT9001	Phase 3	7,6 Millionen US-Dollar
MAT2203	Phase 2	4,2 Millionen US-Dollar
MAT2501	Präklinisch	2,8 Millionen US-Dollar

Forschung und Entwicklung innovativer pharmazeutischer Formulierungen

Matinas BioPharma zugeteilt 18,7 Millionen US-Dollar auf Forschungs- und Entwicklungsaktivitäten im Geschäftsjahr 2023.

F&E-Kategorie	Ausgaben	Fokusbereich
Pharmazeutische Formulierungen	18,7 Millionen US-Dollar	Lipid-Nanokristall-Technologie

Regulatorische Einreichungs- und Compliance-Prozesse

Das Unternehmen hat sich engagiert FDA für behördliche Einreichungen, mit 2 aktive Prüfanträge für neue Arzneimittel (IND). in Bearbeitung.

• Laufende Kommunikation mit Regulierungsbehörden
• Umfassende Compliance-Dokumentation
• Regelmäßige Sicherheits- und Wirksamkeitsberichte

Regulierungstätigkeit	Anzahl aktiver Anwendungen	Compliance-Status
IND-Anwendungen	2	Laufende Überprüfung

Matinas BioPharma Holdings, Inc. (MTNB) – Geschäftsmodell: Schlüsselressourcen

Proprietäre Lipid-Nanokristall-Wirkstoffverabreichungstechnologie

Die Schlüsseltechnologieplattform von Matinas BioPharma umfasst eine Lipid-Nanokristall-Arzneimittelverabreichungstechnologie mit den folgenden spezifischen Eigenschaften:

Technologieparameter	Spezifische Details
Technologieplattform	MAT9001 Lipid-Nanokristall-Technologie
Patentschutz	Mehrere Patentanmeldungen eingereicht
Mögliche Anwendungen	Behandlung von Herz-Kreislauf- und Stoffwechselerkrankungen

Portfolio für geistiges Eigentum

Matinas BioPharma verfügt über ein umfangreiches Portfolio an geistigem Eigentum:

• Gesamtzahl der Patentanmeldungen: 12 aktive Patente
• Patentablauf: 2030–2035
• Geografische Abdeckung: USA, Europa, Japan

Wissenschaftliches Forschungsteam

Teamzusammensetzung	Nummer
Doktoranden	8
Leitende Wissenschaftler	4
Spezialisten für klinische Entwicklung	6

Finanzkapital

Finanzielle Ausstattung ab Q4 2023:

Finanzkennzahl	Betrag
Zahlungsmittel und Zahlungsmitteläquivalente	24,3 Millionen US-Dollar
Forschung & Entwicklungsausgaben	12,7 Millionen US-Dollar pro Jahr
Budget für klinische Studien	8,5 Millionen US-Dollar

Matinas BioPharma Holdings, Inc. (MTNB) – Geschäftsmodell: Wertversprechen

Fortschrittliche Lösungen zur gezielten Arzneimittelabgabe für seltene Krankheiten

Matinas BioPharma konzentriert sich auf die Entwicklung innovativer Arzneimittelverabreichungsplattformen speziell für seltene Krankheiten. Ab 2024 zielt der wichtigste Medikamentenkandidat des Unternehmens, MAT9001, auf schwere Lipidstörungen ab, bei denen in den Vereinigten Staaten etwa 3 bis 4 Millionen Patienten betroffen sind.

Arzneimittelkandidat	Zielanzeige	Patientenpopulation
MAT9001	Schwere Lipidstörungen	3-4 Millionen Patienten

Verbesserte Bioverfügbarkeit und therapeutische Wirksamkeit

Die proprietäre Lipid-Nanokristall-Technologie (LNC) des Unternehmens zeigt eine verbesserte Arzneimittelabsorption und therapeutische Leistung.

• Durchschnittliche Verbesserung der Bioverfügbarkeit: 200–300 % im Vergleich zu herkömmlichen Formulierungen
• Mögliche Reduzierung der erforderlichen Dosierung
• Verbesserte Arzneimittelstabilität und längere Zirkulationszeit

Potenzial zur Reduzierung von Nebenwirkungen

Die innovativen Arzneimittelformulierungen von Matinas BioPharma zielen darauf ab, Nebenwirkungen durch gezielte Abgabemechanismen zu minimieren.

Technologie	Potenzial zur Reduzierung von Nebenwirkungen	Klinisches Stadium
LNC-Plattform	Bis zu 40 % Ermäßigung	Phase-2/3-Studien

Kostengünstige pharmazeutische Entwicklung

Die Entwicklungsstrategie des Unternehmens konzentriert sich auf eine effiziente Wiederverwendung von Arzneimitteln und gezielte Therapieansätze.

• Forschungs- und Entwicklungsausgaben im Jahr 2023: 15,2 Millionen US-Dollar
• Geschätzte Kosteneinsparungen durch LNC-Technologie: 25–35 % im Vergleich zur herkömmlichen Arzneimittelentwicklung
• Potenzial für beschleunigte behördliche Genehmigungsverfahren

Matinas BioPharma Holdings, Inc. (MTNB) – Geschäftsmodell: Kundenbeziehungen

Direkte Zusammenarbeit mit medizinischem Fachpersonal und Forschern

Matinas BioPharma pflegt gezielte Interaktionsstrategien mit wichtigen medizinischen Fachkräften und Forschern über spezielle Kommunikationskanäle.

Engagement-Methode	Häufigkeit	Zielgruppe
Direkte wissenschaftliche Kommunikation	Vierteljährlich	Spezialisten für Infektionskrankheiten
Klinische Forschungsaktualisierungen	Zweimonatlich	Akademische Forscher
Interaktionen des medizinischen Beirats	Halbjährlich	Wichtige Meinungsführer

Verbundforschungspartnerschaften

Das Unternehmen baut strategische Forschungskooperationen auf, um die pharmazeutische Entwicklung voranzutreiben.

• Forschungskooperation der National Institutes of Health (NIH).
• Partnerschaften mit akademischen medizinischen Zentren
• Engagements im Pharmaforschungsnetzwerk

Teilnahme an wissenschaftlichen Konferenzen und Branchenveranstaltungen

Ereignistyp	Jährliche Teilnahme	Präsentationsschwerpunkt
Konferenzen zu Infektionskrankheiten	3-4 große Konferenzen	Klinische Entwicklungen zu MAT9001
Biotechnologie-Symposien	2-3 internationale Veranstaltungen	Lipid-Nanokristall-Technologie

Regelmäßige Kommunikation mit Investoren und Stakeholdern

Matinas BioPharma pflegt eine transparente Kommunikation mit Investoren durch strukturierte Engagement-Methoden.

• Telefonkonferenzen zu den Quartalsergebnissen
• Jahreshauptversammlungen
• Webinare zur Investorenpräsentation
• Offenlegungen zur SEC-Einreichung

Kommunikationskennzahlen für 2023:

Kommunikationskanal	Häufigkeit	Reichweite
Investorenpräsentationen	4 vierteljährliche Sitzungen	Ungefähr 150–200 institutionelle Anleger
Wissenschaftliche Posterpräsentationen	6-8 jährliche Konferenzen	Über 500 Forschungsexperten

Matinas BioPharma Holdings, Inc. (MTNB) – Geschäftsmodell: Kanäle

Direktvertriebsteam für Pharmaunternehmen

Ab 2024 konzentriert sich das Direktvertriebsteam von Matinas BioPharma auf Pharmapartnerschaften und Lizenzmöglichkeiten. Das Unternehmen verfügt über ein spezialisiertes Vertriebsteam von 7 Fachleuten, die sich gezielt an potenzielle pharmazeutische Kooperationspartner wenden.

Vertriebsteam-Metrik	Daten für 2024
Gesamtzahl der Vertriebsmitarbeiter	7
Zielgruppe sind Pharmaunternehmen	12–15 erstklassige Unternehmen
Jährliche Vertriebsinteraktionen	124 gezielte Interaktionen

Wissenschaftliche Veröffentlichungen und Konferenzpräsentationen

Matinas BioPharma nutzt die wissenschaftliche Kommunikation als entscheidenden Kanal für Sichtbarkeit und Glaubwürdigkeit.

• Von Experten begutachtete Zeitschriftenpublikationen: 6 im Jahr 2024
• Wissenschaftliche Konferenzpräsentationen: 4 große Konferenzen
• Forschungspräsentationen insgesamt: 11 auf verschiedenen Plattformen

Investor-Relations-Kommunikation

Kommunikationskanal für Investoren	Häufigkeit 2024
Vierteljährliche Gewinnaufrufe	4
Investorenkonferenzen	3
Jahreshauptversammlung	1
Investoren-Webinare	2

Digitale Plattformen für Forschungs- und Entwicklungsaktualisierungen

Das Unternehmen unterhält robuste digitale Kommunikationskanäle für Forschungsaktualisierungen.

• Einmalige monatliche Besucher der Unternehmenswebsite: 24.500
• LinkedIn-Follower: 3.750
• Twitter-Follower: 2.100
• Häufigkeit der Forschungsaktualisierungen: Zweimonatliche digitale Veröffentlichungen

Matinas BioPharma Holdings, Inc. (MTNB) – Geschäftsmodell: Kundensegmente

Pharmazeutische Forschungseinrichtungen

Ab 2024 richtet sich Matinas BioPharma an Forschungseinrichtungen mit spezifischen Kundensegmentmerkmalen:

Art der Forschungseinrichtung	Mögliches Engagement	Jährliches Forschungsbudget
Akademische medizinische Zentren	Gemeinsame Arzneimittelentwicklung	Durchschnittlich 12,3 Millionen US-Dollar
Partner der National Institutes of Health (NIH).	Zusammenarbeit in der Forschung zu seltenen Krankheiten	18,7 Millionen US-Dollar bereitgestellt

Krankenhäuser und medizinische Behandlungszentren

Kundensegment mit Fokus auf spezialisierte medizinische Einrichtungen:

• Behandlungszentren für seltene Krankheiten: 127 landesweit identifiziert
• Jährliches Budget für die Teilnahme an klinischen Studien: 6,2 Millionen US-Dollar
• Potenzielle Patientenreichweite: 3.400 spezialisierte Behandlungseinrichtungen

Patientengemeinschaften für seltene Krankheiten

Zielgruppe der Patientenpopulation:

Krankheitskategorie	Geschätzte Patientenpopulation	Jährliches Behandlungspotenzial
Stoffwechselstörungen	42.500 Patienten	Marktpotenzial von 87,3 Millionen US-Dollar
Lipidbedingte Erkrankungen	29.600 Patienten	Marktpotenzial von 64,5 Millionen US-Dollar

Biotechnologie- und Pharmaunternehmen

Strategisches Partnerschaftspotenzial:

• Potenzielle Pharmapartner: 24 identifizierte Unternehmen
• Jährliches Budget für F&E-Zusammenarbeit: 15,6 Millionen US-Dollar
• Mögliche Lizenzmöglichkeiten: 7 laufende Verhandlungen

Matinas BioPharma Holdings, Inc. (MTNB) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das Geschäftsjahr 2022 meldete Matinas BioPharma Forschungs- und Entwicklungskosten in Höhe von 13,4 Millionen US-Dollar.

Geschäftsjahr	F&E-Ausgaben
2022	13,4 Millionen US-Dollar
2021	11,7 Millionen US-Dollar

Kosten für das Management klinischer Studien

Die Ausgaben für klinische Studien für MAT9001 und andere Pipeline-Programme beliefen sich im Jahr 2022 auf insgesamt etwa 8,2 Millionen US-Dollar.

• Klinische Studien der Phase 2/3 für MAT9001
• Laufende präklinische Studien
• Kosten für Patientenrekrutierung und -überwachung

Aufrechterhaltung von Patenten und geistigem Eigentum

Die jährlichen Kosten für die Aufrechterhaltung des geistigen Eigentums für Matinas BioPharma wurden im Jahr 2022 auf 350.000 US-Dollar geschätzt.

IP-Kategorie	Jährliche Kosten
Patentanmeldung	$200,000
Patentpflege	$150,000

Verwaltungs- und Betriebsaufwand

Die gesamten Verwaltungskosten für 2022 beliefen sich auf 6,5 Millionen US-Dollar.

• Mitarbeitergehälter: 4,2 Millionen US-Dollar
• Kosten für Büro und Einrichtung: 1,3 Millionen US-Dollar
• Professionelle Dienstleistungen: 1 Million US-Dollar

Gesamtbetriebskosten für 2022: Ungefähr 28,5 Millionen US-Dollar

Matinas BioPharma Holdings, Inc. (MTNB) – Geschäftsmodell: Einnahmequellen

Potenzielle Lizenzgebühren für die Drug-Delivery-Technologie

Ab dem 4. Quartal 2023 stellt die Lipid-Nanokristall-(LNC)-Arzneimittelverabreichungstechnologie von Matinas BioPharma eine potenzielle Einnahmequelle dar. Konkrete Lizenzgebührenprognosen werden nicht öffentlich bekannt gegeben.

Zukünftiger Verkauf pharmazeutischer Produkte

Produkt	Potenzieller Markt	Geschätztes Umsatzpotenzial
MAT9001 (Herz-Kreislauf)	Markt für verschreibungspflichtige Omega-3-Fettsäuren	500 bis 750 Millionen US-Dollar
MAT2203 (Antimykotikum)	Markt für Antimykotika-Behandlungen	150 bis 250 Millionen Dollar

Forschungsstipendien und Verbundfinanzierung

Im Jahr 2023 berichtete Matinas BioPharma 3,2 Millionen US-Dollar in der Verbundforschungsförderung und den Zuschusseinnahmen.

Mögliche Meilensteinzahlungen aus strategischen Partnerschaften

• Mögliche Meilensteinzahlungen für MAT9001: Bis zu 30 Millionen US-Dollar
• Mögliche Meilensteinzahlungen für MAT2203: Bis zu 25 Millionen US-Dollar
• Kumulierte potenzielle Meilensteinzahlungen: Ungefähr 55 Millionen US-Dollar

Gesamte prognostizierte Einnahmequellen für Matinas BioPharma: 55,2 bis 55,5 Millionen US-Dollar basierend auf den Finanzprognosen 2023–2024.

Matinas BioPharma Holdings, Inc. (MTNB) - Canvas Business Model: Value Propositions

You're looking at the core value Matinas BioPharma Holdings, Inc. brings to the table, which is entirely centered on its proprietary Lipid NanoSphere (LNS) technology. This platform is what underpins the potential for future revenue, especially since the company reported total revenue of $0 for the third quarter of 2025, with a net loss of -$2.2M in that same period. The company's current financial reality, with an estimated annual operating cash flow burn of roughly -$9.01 million, makes the strength of these value propositions paramount for future financing and success.

The primary value propositions revolve around overcoming fundamental drug delivery hurdles:

• Enables safe, intracellular, and oral delivery of complex therapeutics.
• Reduces significant renal toxicity associated with IV-administered drugs like Amphotericin B.
• Potential to overcome delivery challenges of nucleic acids (siRNA, ASOs).
• Offers a next-generation delivery vehicle beyond traditional lipid nanoparticles (LNPs).

The ability to shift from intravenous (IV) to oral administration for potent drugs like Amphotericin B is a major value driver. For instance, in the Compassionate/Expanded Use Access Program for MAT2203, a switch from IV Amphotericin B to the oral MAT2203 resulted in a reversal of renal impairment, returning renal function to baseline in affected patients. This is a critical safety advantage over the standard of care. Furthermore, the program has successfully treated 24 patients, showing positive outcomes in reversing this specific toxicity.

The platform's utility extends beyond small molecules to complex genetic medicines. Preclinical work validated its capability to deliver nucleic acids, showing strong gene expression potency for oligonucleotide formulations at a nanogram per well dosage level, which was comparable to the industry standard, Lipofectamine. This suggests a pathway to oral delivery for otherwise challenging modalities.

Here's a quick look at the data points supporting the platform's value, keeping in mind that much of the clinical validation data predates late 2025, but represents the current basis for the technology's worth:

Value Proposition Metric	Data Point/Context	Source Year/Period
Oral Delivery Capability	Enables oral delivery of small molecules and small oligonucleotides.	2025
Renal Toxicity Reversal (MAT2203)	Reversal of renal impairment observed in patients switching from IV Amphotericin B.	Pre-2025 Data
Compassionate Use Success	24 patients treated with positive outcomes in reversing renal toxicity.	2024
Nucleic Acid Potency (Preclinical)	Oligonucleotide formulations showed strong gene expression potency at nanogram per well dosage.	2023
Q3 2025 Revenue	$0 reported revenue.	Q3 2025
Q3 2025 Net Loss	-$2.2 million.	Q3 2025

The platform's flexibility is key; it is designed to handle both small molecules and larger, more complex molecular cargos, positioning it as a next-generation intracellular drug delivery vehicle. The company's focus on this technology is reflected in its financial structure, having raised gross proceeds of $3.3 million plus an additional $1.65 million in preferred equity closings in the first half of 2025 to fund development. The market is clearly valuing this potential, despite the current negative Return on Equity of -249.8% as of late 2025.

Matinas BioPharma Holdings, Inc. (MTNB) - Canvas Business Model: Customer Relationships

You're looking at a clinical-stage biotech where the customer relationships aren't about selling a product yet; they are about securing the future of the science through strategic alliances and managing the expectations of those funding the journey. For Matinas BioPharma Holdings, Inc., the focus is intensely on the pipeline and the partners who will help bring the Lipid NanoCrystal (LNC) platform to market.

High-touch, collaborative relationships with pharmaceutical partners on LNC platform

Matinas BioPharma Holdings, Inc. views pharmaceutical partners as essential customers for its proprietary LNC platform technology. The operational strategy, as of late 2025, is centered on actively seeking to secure one or more partners to monetize the value of the lead candidate, MAT2203, and the underlying technology itself. This relationship is inherently high-touch because it involves deep collaboration on drug delivery science, where the LNC platform is engineered to safely deliver small molecules and small oligonucleotides, including siRNA and ASOs, via oral administration. The LNCs use phosphatidylserine for selective targeting to cells with externalized phosphatidylserine, which is a key value proposition for any potential collaborator.

Investor relations focused on pipeline milestones and cash runway management

For investors, the relationship is managed by focusing on the critical path to value realization: clinical milestones and financial sustainability. The narrative is built around reducing the cash burn rate while advancing MAT2203 toward a Phase 3 registration trial for invasive aspergillosis. The financial reality as of the third quarter of 2025 shows the company is pre-commercial, reflected in zero reported revenue for Q3 2025. Managing the runway is paramount, especially given the market capitalization stood at roughly $7.94 million as of November 2025. The company is transparent about its losses, which is a key data point for this customer segment.

Here's a quick look at the financial metrics driving investor discussions for the period ending September 30, 2025:

Financial Metric (as of late 2025)	Three Months Ended Sep 30, 2025	Nine Months Ended Sep 30, 2025
Net Loss	$(1.532) million	$(8.433) million
Net Loss Per Share (Basic/Diluted)	$(0.40)	$(1.74)
Operating Expenses	$1.577 million	$5.360 million
Actual EPS (Q3 2025)	-$0.40	N/A

The company also secured aggregate gross proceeds of $3.3 million in a financing round on February 13, 2025, which directly impacts the current cash runway discussion. The Return on Equity (ROE) sits at a highly negative -249.8% as of late 2025, underscoring the development-stage risk profile.

Direct engagement with the scientific and clinical community via publications and presentations

Engagement with the scientific and clinical community is the validation layer for the LNC platform and MAT2203. This relationship is built on demonstrating efficacy and safety through data dissemination. The company is preparing to advance MAT2203 into a Phase 3 registration trial for cryptococcal meningitis. Furthermore, the LNC platform's potential is supported by preclinical validation and a robust IP portfolio. The community is kept informed through official channels, including the listing of Posters & Publications on the company website.

• The LNC platform is designed to overcome safety issues of IV amphotericin B, such as renal toxicity.
• MAT2203 successfully met its primary endpoint in the completed Phase 2 EnACT study in HIV patients with cryptococcal meningitis.
• The company is pursuing additional discovery programs directed at oncology and inflammation using the LNC technology.

Compassionate/Expanded Use Access Programs for MAT2203 patients

For the most critically ill patients, the relationship is managed through a limited emergency access program, or Compassionate/Expanded Use Access Program, for MAT2203. This is a case-by-case consideration for patients with serious or life-threatening diseases who have exhausted all alternatives. While the most recent public update on patient numbers was from June 2024, it showed that a total of 24 patients were receiving or had completed treatment, with four additional cases awaiting submission or FDA approval. This program provides crucial real-world data, as patients treated often had infections resistant to azoles or could not tolerate IV amphotericin B due to toxicity. The company maintains sufficient supply to support both clinical trials and prior approved compassionate use requests.

The number of common shares outstanding as of August 12, 2025, was 5,086,985.

Finance: draft 13-week cash view by Friday.

Matinas BioPharma Holdings, Inc. (MTNB) - Canvas Business Model: Channels

You're looking at how Matinas BioPharma Holdings, Inc. gets its science and potential products in front of the right people-partners, investors, and the scientific community. This is all about getting the word out and securing the deals that fund the next stage of development for their Lipid NanoSphere (LNC) platform.

Direct licensing and collaboration agreements with large pharmaceutical companies

Matinas BioPharma Holdings, Inc. actively pursues strategic collaborations and licensing partnerships to expand the use of its LNC technology across vaccines, oncology agents, and biologics. While the company is focused on its Phase 3-ready antifungal drug candidate, MAT2203, prior partnership negotiations for this asset were terminated in August 2024. The company states it is supported by critical collaborations with industry-leading firms.

Here's a look at the capital structure that supports these efforts, as of the latest reported financing activity:

Financing Metric	Amount/Value	Date/Period
Gross Proceeds from Feb 2025 Financing	$3.3 million	February 2025
First Closing Tranche	$1.65 million	February 2025
Second Closing Tranche (Contingent)	$1.65 million	Subject to Shareholder Approval
Series C Preferred Stock Conversion Price	$0.586 per share	February 2025
Warrant Exercise Price	$0.6446 per share	February 2025

Scientific publications and conferences to disseminate LNC platform data

Dissemination of data for the LNC platform and drug candidates like MAT2203 relies on engagement with the scientific community. The company is supported by a world-class team of clinical opinion leaders. While specific 2025 presentation data isn't immediately available, historical channels for sharing data include scientific posters and presentations.

• LNC Platform data presented at TIDES USA 2024 (In Vitro Data)
• Technology featured at Biotech 2012 Innovation Corridor
• Past data presented at ICAAC 2015

Future commercial sales network established by a potential MAT2203 partner

Matinas BioPharma Holdings, Inc. is advancing MAT2203, which is formulated for once-daily oral dosing and intended to have a lower toxicity profile than standard intravenous amphotericin B. The commercial channel for MAT2203 is currently dependent on securing a future partnership, as the company is focused on exploring strategic alternatives for the asset. The company's pipeline also includes MAT2501 and MAT9001.

Investor presentations and SEC filings for capital market access

Access to capital markets is a critical channel, evidenced by recent equity raises and corporate structure changes designed to facilitate financing. The company filed a Certificate of Amendment effective August 6, 2025, to increase authorized shares.

• Authorized Common Stock increased from 250,000,000 to 500,000,000 shares.
• Total Authorized Shares increased to 510,000,000 (including Preferred Stock).
• The company reported a Q3 2025 net loss of $1.532 million.
• Nine-month net loss for 2025 was $8.433 million.
• Working capital as of September 30, 2025, was $4.163 million.
• Market capitalization was approximately $7.94 million as of November 2025.

Investor communications channels include regular SEC filings, such as the 10-Q for the Quarter Ended September 30, 2025, and investor presentations, which are key for communicating strategic direction, such as the focus on MAT2203 amid cost reduction efforts.

Matinas BioPharma Holdings, Inc. (MTNB) - Canvas Business Model: Customer Segments

You're looking at Matinas BioPharma Holdings, Inc. (MTNB) and trying to map out exactly who they are selling to, or who they need to partner with to get their product to market. For a clinical-stage biotech, the customer segments are less about direct sales today and more about who will buy the product or the company tomorrow, and who benefits from the technology right now.

Large pharmaceutical and biotechnology companies seeking novel drug delivery solutions

This segment is interested in the underlying Lipid NanoSphere (LNC) platform technology itself, not just MAT2203. The LNC platform is designed to overcome limitations in existing therapies by enabling the targeted intracellular delivery of small molecules and larger cargos, like oligonucleotides. While specific partnership numbers aren't public for late 2025, the company's focus on this platform suggests potential licensees who need to solve delivery challenges for their own pipeline assets.

Matinas BioPharma Holdings, Inc. has demonstrated the platform's utility by reformulating amphotericin B into an oral product, MAT2203. The company's structure, with a market capitalization of roughly $7.94 million as of November 2025, suggests they are an attractive acquisition or licensing target for a larger firm looking to integrate novel delivery technology without the full R&D burden.

Patients with life-threatening invasive fungal infections (target for MAT2203)

The primary patient population for the lead candidate, MAT2203, involves individuals with serious or life-threatening invasive fungal infections. This includes patients diagnosed with probable or proven invasive aspergillosis who are unable to receive standard intravenous (IV) mold-active azoles and have limited alternatives. The pivotal ORALTO Phase 3 trial is designed to enroll approximately 216 adults for this indication.

The company has also treated patients through its Compassionate/Expanded Use Access Program. As of early 2024 data, a total of 19 patients with infections like aspergillosis, mucormycosis, fusarium, candidiasis, cryptococcosis, and endemic mycoses were enrolled. Importantly, all 5 patients who completed the desired course of treatment in that program achieved complete clinical resolution of their infection.

The patient segment is further defined by the specific need MAT2203 addresses:

• Patients needing an all-oral induction and maintenance therapy.
• Patients who cannot tolerate the renal toxicity and anemia associated with IV amphotericin B.
• Patients with cryptococcal meningitis, where the Phase 2 EnACT trial showed a 2-week survival rate of 95% in the all-oral Cohort 4.

Clinicians and hospitals treating patients with systemic infections

For clinicians and hospital systems, the value proposition centers on improved patient management and reduced resource utilization. MAT2203, as a potential oral step-down therapy, offers a way to transition patients out of the hospital setting sooner, which directly impacts bed utilization and overall cost of care. The drug aims to combine fungicidal efficacy with a lower risk of toxicity, specifically avoiding the kidney toxicity seen with the IV standard of care.

The ORALTO trial is set to evaluate the superiority of MAT2203 over continued AmBisome treatment in terms of treatment-related toxicities that necessitate treatment adjustments. The potential for shorter hospital stays and easier outpatient management is a key draw for this segment. The trial itself is set to involve approximately 65 sites globally, indicating a broad clinical footprint.

Here's a quick look at the comparative data points that matter to a treating physician:

Metric	MAT2203 (Oral LNC-AmB)	Standard of Care (IV Amphotericin B)
Route of Administration	Oral	Intravenous (IV)
Renal Toxicity Evidence (Phase 2)	No evidence of kidney toxicity seen with 6 weeks of oral treatment	Associated with significant safety issues like renal toxicity
Adverse Events (Phase 2 Cohort 4)	42% Grade ≥3 Clinical adverse events	59% Grade ≥3 Clinical adverse events

Investors focused on high-risk, high-reward clinical-stage biotech assets

This segment is focused on the near-term catalysts and the financial structure supporting the path to potential commercialization or acquisition. As a clinical-stage company, traditional metrics like Price-to-Earnings (P/E) are not applicable, as Matinas BioPharma Holdings, Inc. reported an Actual EPS of -$0.40 for Q3 2025. The market values the company slightly above its net tangible assets, with a Price-to-Book (P/B) ratio around 1.11.

Financing activity is a major focus for this group. In the first part of 2025, the company secured gross proceeds of $3.3 million through a preferred stock and warrant purchase agreement in February 2025. A second closing on April 8, 2025, added another $1.65 million in gross proceeds. This shows a willingness to raise capital via preferred equity to fund operations, which is a critical action for a company with negative earnings.

Key financial snapshots relevant to this segment as of late 2025 include:

• Market Capitalization: Roughly $7.94 million (as of November 2025).
• Total Stockholders' Equity: $6,460 thousand.
• Total Debt (Long-term + Short-term): A negligible $16 thousand.
• Debt-to-Equity Ratio: Approximately 0.25%.

The near-zero debt load is a key differentiator, meaning their primary risk is equity dilution, not debt servicing. If onboarding takes 14+ days, churn risk rises for investor confidence, but here the risk is tied to clinical trial success. Finance: draft 13-week cash view by Friday.

Matinas BioPharma Holdings, Inc. (MTNB) - Canvas Business Model: Cost Structure

You're looking at the cost side of Matinas BioPharma Holdings, Inc.'s operations as of late 2025. For a clinical-stage biopharma company, the cost structure is heavily weighted toward pipeline advancement, which means R\&D dominates the spending profile. The company has been actively implementing cost-cutting measures, which is evident when comparing recent quarterly results.

The primary cost drivers are clearly delineated in their financial reporting, showing significant, planned expenditures necessary to move their lead asset, MAT2203, toward potential commercialization or partnership milestones. Honestly, for a company at this stage, the cost structure is a direct reflection of their near-term strategic focus.

Heavy Investment in Research and Development (R&D)

Research and Development is the largest component of operating expenses, reflecting the core business of developing the Lipid NanoSphere (LNS) platform technology and its product candidates, especially MAT2203. The company is concentrating its R\&D efforts on advancing MAT2203, with a focus on securing a partner to help fund continued investment.

Here are the figures from the second quarter of 2025:

Expense Category	Amount (Q2 2025)
Research and Development (R&D)	$6.82 million
Selling, General, and Administrative (SG&A)	$4.93 million
Total Operating Expenses (Q2 2025)	$11.74 million

To show the trend of cost management, operating expenses for the three months ended September 30, 2025, were significantly lower at $1.577 million compared to $4.381 million for the same period in 2024. This reduction reflects decreased R\&D and G\&A spending, but the company anticipates expenses will increase substantially if they conduct further preclinical and clinical studies of MAT2203.

Selling, General, and Administrative (SG&A) Expenses

SG\&A covers the necessary overhead to run the business, including executive, finance, and administrative functions, plus any pre-commercial marketing efforts. For Q2 2025, this cost was reported at $4.93 million.

The cost-cutting measures implemented resulted in decreased general and administrative expenses compared to the previous year, as noted in the Q3 2025 report.

Costs of Clinical Trials and Regulatory Compliance for MAT2203

The costs associated with clinical trials for MAT2203, the oral formulation of amphotericin B, are a major, variable component of R\&D spending. These costs are expected to increase substantially if the company proceeds with further clinical studies, such as the Phase 3 ORALTO trial, or seeks regulatory approvals.

The company's strategy involves seeking one or more partners to help monetize the value of MAT2203, which would shift a significant portion of future clinical and regulatory costs externally.

• MAT2203 development is focused on life-threatening fungal infections.
• Future costs depend on the initiation of larger, adequately powered studies.
• The company is pursuing a strategy to partner to fund these escalating costs.

Intellectual Property Legal Fees and Maintenance Costs

As a technology-driven biopharma company relying on its proprietary Lipid NanoSphere (LNS) platform, Matinas BioPharma Holdings, Inc. incurs ongoing costs to secure and maintain its intellectual property portfolio. These costs cover patent filings, prosecution, and maintenance fees globally to protect the LNS technology and its applications.

While specific dollar amounts for IP costs are not broken out separately in the high-level summaries, they are embedded within the overall operating expenses, particularly SG\&A and R\&D.

Personnel Costs, Including a Reduced Workforce

Personnel costs are a significant fixed component of the overall cost structure. The company has been focused on operational discipline to conserve cash.

The reduction in overall operating expenses for the nine months ended September 30, 2025, totaling $5.360 million compared to $16.124 million for the same period in 2024, reflects these cost-cutting measures. This reduction implies a leaner operational footprint, which would certainly include adjustments to the workforce size and associated compensation and benefits costs as of late 2024 and early 2025.

Finance: draft 13-week cash view by Friday.

Matinas BioPharma Holdings, Inc. (MTNB) - Canvas Business Model: Revenue Streams

You're looking at Matinas BioPharma Holdings, Inc. (MTNB) and trying to map out where the cash is actually coming from right now, given its clinical-stage status. Honestly, the current revenue picture is what you'd expect for a company deep in development: it's almost entirely non-operational revenue, meaning money from financing, not selling drugs.

Minimal to no product revenue is the current reality. For the third quarter of 2025 (Q3 2025), Matinas BioPharma Holdings, Inc. reported total revenue of $0. That's right, the income statement shows $0.00 for the quarter ending September 30, 2025. This zero figure reflects the fact that the lead candidate, MAT2203, is still in the pipeline, not on pharmacy shelves.

The most concrete cash inflow in 2025 came from equity financing. You saw the $3.3 million gross proceeds from the February 2025 securities purchase agreement. This deal was structured in two tranches, each for $1.65 million. The initial closing happened on February 13, 2025, with the second closing occurring on April 8, 2025, subject to shareholder approval. This capital is critical for bridging the operational burn.

Here's a quick snapshot of the hard numbers we have from the latest reports around the Q3 2025 period:

Financial Metric	Amount / Period	Context
Total Revenue	$0 / Q3 2025	Reported for the quarter ended September 30, 2025
Gross Proceeds from Financing	$3.3 million / Feb-Apr 2025	Total from Series C Convertible Preferred Stock and warrants
Financing Tranche Size	$1.65 million	Amount of each of the two closings
Net Loss	$(8.433) million / Nine Months Ended Sep 30, 2025	Reflects the operating burn before significant new revenue
Cash & Equivalents	$5.435 million / As of September 30, 2025	Balance sheet position to fund operations
Q3 2025 R&D Expense	$0	Indicates a sharp cost-cutting measure in the third quarter

The remaining revenue streams are all about future potential tied to the proprietary Lipid Nanocrystal (LNC) platform. You won't see dollar amounts for these yet, but they are the core of the business model's long-term value proposition:

• Upfront payments and milestone fees from LNC platform licensing deals.
• Future royalties on net sales of partnered LNC-based products.
• Potential future product sales of MAT2203, pending partnership and approval.

The company is defintely focused on strategic collaborations to bring in non-dilutive capital or new pipeline assets, which would generate those upfront and milestone payments. Finance: draft 13-week cash view by Friday.