Matinas BioPharma(US:MTNB)2022-03-08 16:13Financial Data and Key Metrics Changes - The company reported a net loss attributable to common shareholders of approximately $6.7 million or $0.03 per share for Q4 2021, compared to a net loss of $6.6 million or $0.03 per share for the same period in 2020 [26] - For the full year 2021, the net loss attributable to common shareholders was approximately $23.7 million or $0.11 per share, compared to a net loss of $23.2 million or $0.12 per share for 2020 [27] - Cash, cash equivalents, and marketable securities at December 31, 2021, were approximately $49.6 million, down from $58.7 million at December 31, 2020, with expectations that cash on hand is sufficient to fund operations through 2023 [30] Business Line Data and Key Metrics Changes - Research and development expenses were approximately $4.2 million in Q4 2021, up from $3.5 million in Q4 2020, while full-year R&D expenses were approximately $14.6 million compared to $14.3 million in 2020 [28] - General and administrative expenses were approximately $2.5 million in Q4 2021, down from $3 million in Q4 2020, with full-year SG&A expenses at approximately $10.2 million compared to $10 million in 2020 [29] Market Data and Key Metrics Changes - The company is focusing on expanding its LNC platform technology for the delivery of nucleic acids, which is expected to address significant market needs in the therapeutic area, particularly in invasive fungal infections projected to grow to an $8 billion market [15] Company Strategy and Development Direction - The company aims to aggressively move its LNC platform technology into the delivery of nucleic acids, including mRNA, DNA, and antisense oligonucleotides, positioning itself as a next-generation drug delivery platform [8] - Plans for MAT2203 include expanding the EnACT trial to include an additional cohort for step-down therapy, with an NDA submission anticipated in late 2023 or early 2024 [12] - The company is also preparing to submit a formal request for scientific advice to the European Medicines Agency to support global commercialization efforts for MAT2203 [13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ongoing clinical trials and the potential for MAT2203 to become a leading therapy for invasive fungal infections, with significant interest from third parties for licensing and partnerships [37] - The company is focused on expanding its internal capabilities and pipeline in the nucleic acid space, with plans to initiate preclinical studies for MAT2203 in other invasive fungal infections [14][20] Other Important Information - The company has added over 15 new scientists and professionals to its team, enhancing its capabilities in nucleic acid delivery [20] - The company is in advanced discussions with leading biopharmaceutical companies to validate its LNC platform and explore additional applications [24] Q&A Session Summary Question: Interest in MAT2203 for licensing or partnering - Management indicated that MAT2203 is a foundational drug demonstrating key attributes of the platform, attracting significant interest from third parties for potential partnerships [37][38] Question: Upcoming data for MAT2501 and collaborations with Genentech and Gilead - Data for MAT2501 is expected in mid-2022, with ongoing studies to validate its safety and efficacy [42] - The third compound with Genentech is anticipated to be in a unique area, while the second in vivo study with Gilead is set to commence shortly, focusing on oral delivery of remdesivir [45] Question: Design and impact of Cohort 5 on timelines - Management clarified that Cohort 5 is designed based on FDA feedback and is expected to maintain the timeline for NDA submission, with a focus on specific endpoints [50][51] Question: R&D and SG&A spending outlook for 2022 - The company plans to maintain disciplined spending in R&D and SG&A, with expectations that costs for Cohort 5 will be covered by NIH [66]