Notable News to Watch: Matinas BioPharma Holdings (NYSE:MTNB)

Matinas BioPharma Holdings (NYSE:MTNB) spotted trading -41.37% off 52-week high price. On the other end, the stock has been noted 150.95% away from the low price over the last 52-weeks. The stock changed -23.56% to recent value of $1.46. The stock transacted 18504905 shares during most recent day however it has an average volume of 2.34M shares. The company has 169.32M of outstanding shares and 146.29M shares were floated in the market.  

On Jan. 10, 2020, Matinas BioPharma Holdings (NYSE AMER:MTNB) a clinical-stage biopharmaceutical company, notified the pricing of its underwritten registered public offering of 32,260,000 shares of its common stock, offered at a price to the public of $1.55 per share for expected gross proceeds of approximately $50.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses. In addition, Matinas BioPharma has granted the underwriters a 30-day option to purchase up to an additional 4,839,000 shares of its common stock on the same terms and conditions. All of the shares in the offering are being sold by Matinas BioPharma. The offering is expected to close on or about January 14, 2020, subject to customary closing conditions.

Piper Sandler & Co. is acting as the sole lead active bookrunner for the offering. SunTrust Robinson Humphrey is also acting as a bookrunner for the offering. BTIG, LLC is acting as lead manager and H.C. Wainwright & Co., Maxim Group LLC and Roth Capital Partners are acting as co-managers for the offering.

Matinas BioPharma anticipates using the net proceeds from the offering for ongoing development activities for its product candidates, primarily MAT9001, and for working capital and other general corporate purposes.

 Its earnings per share (EPS) expected to touch remained 57.90% for this year.

 According to the most recent quarter its current ratio was 13.1 that represents company’s ability to meet its current financial obligations. The price moved ahead of -21.67% from the mean of 20 days, 1.49% from mean of 50 days SMA and performed 48.73% from mean of 200 days price. Company’s performance for the week was -34.23%, -15.61% for month and YTD performance remained -35.68%.

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