Matinas BioPharma receives NYSE noncompliance notice
Compliance Issue: Matinas BioPharma has received a notice from NYSE American for failing to meet listing standards due to not holding its annual stockholders meeting for the fiscal year ending December 31, 2024. The company plans to hold the meeting by December 31, 2025 to regain compliance.
Market Reaction: Following the news, Matinas BioPharma's shares fell by 3.21% in post-market trading on Friday.
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US Stocks Show Varied Performance; Riskified Shares Decline Following Q2 Earnings Report
Market Overview: U.S. stocks showed mixed results, with the Dow and NASDAQ slightly up while the S&P 500 fell by 0.03%.
Sector Performance: Information technology shares increased by 0.3%, whereas energy stocks dropped by 1.1%.
Notable Stock Movements: Riskified shares fell 13% despite meeting earnings expectations, while Propanc Biopharma surged 210% after uplisting to Nasdaq.
Global Market Trends: European shares declined, with the eurozone's STOXX 600 down 0.1%, while Asian markets mostly closed higher, led by Japan's Nikkei 225 gaining 0.77%.
Matinas BioPharma Appoints Seasoned Biotech Leaders to Board of Directors
Board Appointments: Matinas BioPharma has appointed Keith Murphy and Edward Neugeboren as independent members of its Board of Directors, effective March 11, 2025, while thanking departing directors Matthew Wikler and Natasha Giordano for their service.
Product Development: The company is advancing its oral antifungal treatment MAT2203, which aims to provide a safer alternative to intravenous amphotericin B, having successfully completed a Phase 2 study in HIV patients with cryptococcal meningitis and planning further evaluation in a Phase 3 trial.
