On Friday, Matinas BioPharma Holdings Inc (NYSE: MTNB) shares price traded between $8.94 and $0.71 during the last trading session an upbeat with 0.32% at $0.7. The shares recorded trading volume 166.93K shares as compared to its average volume of 498.21K shares. Over the one year trading period, the stock has a peak price of $1.5 and its down is recorded at $0.5.
The average true range of Matinas BioPharma Holdings, Inc.’s (MTNB) is recorded at 0.04 and the relative strength index of the stock stands 55.56. The stock price is going above to its 52 week low with 39.16% and lagging behind from its 52 week high with -53.52%. Analyst recommendation for this stock stands at 1.70. A look on the firm performance, its monthly performance is 18.41% and a quarterly performance of -1.80%. The stock price is trading downbeat from its 200 days moving average with -22.87% and up from 50 days moving average with 3.61%.
Matinas BioPharma Holdings Inc (NYSE: MTNB), recently reported financial results for the quarter ended June 30, 2019.
Second Quarter 2019 Financial Results
For the second quarter of 2019, the Company stated a net loss attributable to ordinary shareholders of $3.6M, or a net loss per share of $0.03 (basic and diluted), contrast to a net loss attributable to ordinary shareholders of $3.6M, or a net loss per share of $0.04 (basic and diluted) for the same period in 2018.
Research and development (R&D) activities for the second quarter of 2019 were $2.8M, contrast to $1.5M for the same period in 2018. The increase in R&D is due primarily to higher clinical development and overhead costs, specifically about the development of MAT9001.
General and administrative (G&A) expenses for the second quarter of 2019 were $1.8M, contrast to $2.0M in the same period in 2018.
Cash and cash equivalents at June 30, 2019 were about $36.8M, contrast to $12.4M at December 31, 2018. This increase includes net proceeds of $30.1M from the Company’s public offering of its ordinary stock completed in March 2019. Based on Management’s current projections, the Company believes that cash on hand is sufficient to fund operations into the first quarter of 2021.