Matinas BioPharma Holdings, Inc.
MTNBHealthcare|Biotechnology|US
$1.19
+0.03 (+2.59%)
DCF Value
$6.44
Cash / Share
$1.78
Financials
Financial Snapshot
Market Cap
$508.2K
Enterprise Value
-$246.8K
Revenue (TTM)
$0.00
Net Income (TTM)
-$7.3M
Cash & Investments
$761.0K
Net Cash
$755.0K
Free Cash Flow (TTM)
-$6.4M
Operating CF (TTM)
-$6.4M
Debt/Equity
0.00
Cash Runway & Burn Rate
Cash on Hand
$761.0K
Quarterly Burn
$1.6M
Monthly Burn
$535.0K
Est. Runway
~0.5 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $4.1M | $7.3M | $12.4M | $27.8M | $58.7M | $49.6M | $28.8M | $13.8M | $7.3M | $4.0M | $761.0K | |
| Operating Cash Flow | -$6.1M | -$11.5M | -$10.3M | -$14.1M | -$17.4M | -$15.2M | -$19.2M | -$15.3M | -$15.9M | -$7.0M | -$6.4M | |
| Free Cash Flow | -$6.1M | -$12.4M | -$10.9M | -$14.5M | -$17.4M | -$15.5M | -$20.0M | -$15.5M | -$15.9M | -$7.0M | -$6.4M | |
| Capital Expenditure | $0.00 | -$942.2K | -$535.9K | -$405.6K | -$5.7K | -$260.0K | -$892.0K | -$218.0K | $0.00 | $0.00 | $0.00 | |
| Financing Cash Flow | $7.0M | $15.6M | $15.9M | $29.9M | $48.0M | $7.0M | $79.0K | -$7.0K | $9.2M | $3.4M | $121.0K |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $149.7K | $119.8K | $89.8K | $158.3K | $33.0K | $3.2M | $1.1M | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $52.6K | $9.0M | $6.8M | $11.2M | $14.4M | $14.6M | $16.7M | $941.0K | $972.0K | $456.0K | $107.0K | |
| Gross Profit | -$52.6K | -$8.9M | -$6.7M | -$11.1M | -$14.2M | -$14.6M | -$13.5M | $155.0K | -$972.0K | -$456.0K | -$107.0K | |
| R&D | $3.9M | $9.0M | $6.8M | $11.2M | $14.4M | $14.6M | $16.7M | $14.5M | $11.4M | $85.0K | $0.00 | |
| SG&A | $4.3M | $7.6M | $8.0M | $7.8M | $10.0M | $10.2M | $11.1M | $9.4M | $7.8M | $6.9M | $6.6M | |
| Operating Income | -$8.3M | -$16.5M | -$14.6M | -$18.9M | -$24.2M | -$24.7M | -$24.6M | -$23.8M | -$20.2M | -$7.0M | -$6.7M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$7.6M | -$15.8M | -$14.6M | -$17.4M | -$22.4M | -$23.3M | -$21.0M | -$22.9M | -$24.3M | -$10.3M | -$7.3M | |
| Net Income | -$7.6M | -$15.5M | -$14.1M | -$17.4M | -$22.4M | -$23.3M | -$21.0M | -$22.9M | -$24.3M | -$10.3M | -$7.3M | |
| EPS (Diluted) | -98.85 | -128.40 | -107.70 | -80.55 | -78.45 | -75.60 | -45.00 | -79.20 | -74.70 | -30.00 | -18.15 | |
| EBITDA | -$8.2M | -$16.4M | -$14.4M | -$18.1M | -$23.4M | -$22.5M | -$20.1M | -$22.0M | -$19.2M | -$9.9M | -$6.3M | |
| Shares Out. (M) | 0.08 | 0.12 | 0.13 | 0.19 | 0.26 | 0.28 | 0.29 | 0.29 | 0.32 | 0.36 | 0.43 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.1M | $7.3M | $12.4M | $22.2M | $12.4M | $21.0M | $6.9M | $4.8M | $7.3M | $4.0M | $761.0K | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $5.6M | $46.2M | $28.6M | $21.9M | $9.0M | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $4.6M | $8.0M | $13.1M | $29.9M | $61.6M | $51.0M | $34.5M | $15.5M | $8.0M | $4.1M | $1.1M | |
| Total Assets | $9.8M | $14.4M | $19.9M | $40.2M | $71.0M | $61.3M | $78.9M | $25.1M | $12.6M | $7.2M | $3.4M | |
| Total Current Liabilities | $1.4M | $2.2M | $2.8M | $3.1M | $3.6M | $4.3M | $4.3M | $2.6M | $2.7M | $1.5M | $1.4M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $3.75B | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $2.7M | $3.7M | $3.8M | $7.2M | $7.2M | $8.8M | $42.2M | $5.9M | $5.1M | $2.4M | $1.6M | |
| Stockholders' Equity | $7.1M | $10.7M | $16.1M | $33.1M | $63.7M | $52.5M | $36.6M | $19.2M | $7.6M | $4.8M | $1.8M | |
| Retained Earnings | -$35.2M | -$51.3M | -$65.9M | -$84.4M | -$107.5M | -$131.6M | -$152.6M | -$175.6M | -$199.8M | -$210.8M | -$214.0M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$6.1M | -$11.5M | -$10.3M | -$14.1M | -$17.4M | -$15.2M | -$19.2M | -$15.3M | -$15.9M | -$7.0M | -$6.4M | |
| Capital Expenditure | $0.00 | -$942.2K | -$535.9K | -$405.6K | -$5.7K | -$260.0K | -$892.0K | -$218.0K | $0.00 | $0.00 | $0.00 | |
| Free Cash Flow | -$6.1M | -$12.4M | -$10.9M | -$14.5M | -$17.4M | -$15.5M | -$20.0M | -$15.5M | -$15.9M | -$7.0M | -$6.4M | |
| Investing Cash Flow | $0.00 | -$942.2K | -$535.9K | -$6.0M | -$40.7M | $16.8M | $4.9M | $13.2M | $9.2M | $335.0K | $335.0K | |
| Financing Cash Flow | $7.0M | $15.6M | $15.9M | $29.9M | $48.0M | $7.0M | $79.0K | -$7.0K | $9.2M | $3.4M | $121.0K | |
| Issuance of Stock | $7.2M | $1.1M | $9.2M | $30.1M | $46.7M | $5.6M | $99.0K | $0.00 | $9.2M | $129.0K | $129.0K | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | -$15.9K | -$17.1K | -$59.2K | -$81.7K | -$54.7K | -$30.0K | -$20.0K | -$7.0K | -$5.0K | -$9.0K | -$8.0K | |
| Stock Based Comp. | $1.5M | $3.6M | $3.8M | $3.0M | $4.6M | $4.3M | $5.2M | $4.9M | $3.2M | $1.0M | $574.0K | |
| Net Change in Cash | $878.5K | $3.2M | $5.0M | $9.7M | -$10.0M | $8.5M | -$14.2M | -$2.0M | $2.5M | -$3.3M | -$6.0M |
Dilution Tracker
Shares outstanding grew 39.0% over 5 years — significant dilution
Shares Outstanding
0M
5-Year Share Growth
+39.0%
Stock Issuance (TTM)
$129.0K
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.08 | 0.12 | 0.13 | 0.19 | 0.26 | 0.28 | 0.29 | 0.29 | 0.32 | 0.36 | 0.43 | |
| Change vs Prior % | — | 56.9% | 8.4% | 48.0% | 35.6% | 6.7% | 3.2% | 0.2% | 12.0% | 12.5% | 17.0% | |
| Stock Issuance | $7.2M | $1.1M | $9.2M | $30.1M | $46.7M | $5.6M | $99.0K | $0.00 | $9.2M | $129.0K | $129.0K | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $1.5M | $3.6M | $3.8M | $3.0M | $4.6M | $4.3M | $5.2M | $4.9M | $3.2M | $1.0M | $574.0K |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | — | -5919.6% | -5568.0% | -12409.0% | -8968.8% | -44090.9% | -423.1% | 14.1% | — | — | — | |
| Operating Margin % | — | -11024.6% | -12230.9% | -21067.4% | -15288.4% | -74954.5% | -771.3% | -2168.4% | — | — | — | |
| Net Margin % | — | -10345.9% | -11760.4% | -19343.4% | -14177.0% | -70554.5% | -658.6% | -2093.2% | — | — | — | |
| EBITDA Margin % | — | -10957.4% | -12048.6% | -20198.0% | -14799.2% | -68187.9% | -630.5% | -2007.4% | — | — | — | |
| FCF Margin % | — | -8285.0% | -9066.5% | -16142.2% | -10972.8% | -46918.2% | -628.9% | -1413.9% | — | — | — | |
| ROE % | -106.3% | -145.0% | -87.2% | -52.6% | -35.2% | -44.4% | -57.3% | -119.2% | -319.5% | -214.2% | -181.5% | |
| ROA % | -77.4% | -107.4% | -70.6% | -43.2% | -31.6% | -38.0% | -26.6% | -91.4% | -191.8% | -143.5% | -214.2% | |
| ROIC % | -97.1% | -130.1% | -81.3% | -50.3% | -35.7% | -43.0% | -32.7% | -102.7% | -187.1% | -108.1% | -323.2% | |
| R&D / Revenue % | — | 6019.6% | 5668.0% | 12509.0% | 9068.8% | 44190.9% | 523.1% | 1322.0% | — | — | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | -100.0% | 0.0% | -20.0% | -25.0% | 76.3% | -79.2% | 9560.6% | -65.6% | -100.0% | 0.0% | |
| Gross Profit | 99.0% | -16731.6% | 24.8% | -67.1% | -27.4% | -2.5% | 7.3% | 101.1% | -727.1% | 53.1% | |
| Operating Income | 16.7% | -99.9% | 11.2% | -29.2% | -27.9% | -2.2% | 0.6% | 3.4% | 15.2% | 65.5% | |
| Net Income | 16.8% | -103.8% | 9.1% | -23.4% | -29.2% | -3.7% | 9.8% | -9.3% | -5.7% | 57.3% | |
| EPS (Diluted) | 25.7% | -29.9% | 16.1% | 25.2% | 2.6% | 3.6% | 40.5% | -76.0% | 5.7% | 59.8% | |
| Operating Cash Flow | 21.7% | -87.3% | 9.9% | -36.5% | -23.2% | 12.3% | -25.8% | 20.2% | -4.0% | 55.9% | |
| Free Cash Flow | 22.5% | -102.7% | 12.5% | -33.5% | -19.8% | 10.9% | -29.5% | 22.7% | -2.5% | 55.9% | |
| R&D Expense | -25.4% | 128.3% | -24.7% | 65.5% | 27.8% | 1.6% | 14.4% | -13.1% | -21.1% | -99.3% | |
| SG&A Expense | -10.5% | 77.3% | 4.4% | -2.5% | 28.7% | 1.8% | 9.0% | -15.0% | -17.8% | -11.4% | |
| Total Assets | 16.8% | 46.9% | 38.3% | 101.8% | 76.4% | -13.6% | 28.6% | -68.2% | -49.6% | -43.0% | |
| Book Value / Share | 5.1% | -4.8% | 39.4% | 38.3% | 42.2% | -22.8% | -32.3% | -47.6% | -64.8% | -43.4% | |
| Debt | 1182.6% | 83.4% | 47.5% | 982.6% | -11.3% | 25.4% | -12.3% | -13.8% | -18.6% | -53.2% | |
| Diluted Shares | 12.0% | 56.9% | 8.4% | 48.0% | 35.6% | 6.7% | 3.2% | 0.2% | 12.0% | 12.5% |
Valuation
P/E (TTM)At Loss
P/S0.00
10Y Low / Med / High34.00 / 701.13 / 6432.74
P/B0.28
10Y Low / Med / High0.33 / 4.04 / 11.29
EV/EBITDA0.04
EV/Revenue0.00
10Y Low / Med / High33.14 / 654.09 / 5937.98
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$6.44
Cash / Share
$1.78
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -10.62 | -6.78 | -4.14 | -21.14 | -13.00 | -10.02 | -8.33 | -2.05 | -0.10 | -0.29 | -0.07 | |
| P/S Ratio | 0.00 | 701.13 | 487.44 | 3669.82 | 1691.22 | 6432.74 | 34.00 | 42.86 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | 11.29 | 9.83 | 3.62 | 9.97 | 4.20 | 4.04 | 2.96 | 2.44 | 0.33 | 0.66 | 0.28 | |
| EV/EBITDA | -9.36 | -5.97 | -3.21 | -17.18 | -11.06 | -8.71 | -5.26 | -2.08 | 0.10 | -0.06 | 0.04 | |
| EV/Revenue | 0.00 | 654.09 | 386.77 | 3470.07 | 1636.39 | 5937.98 | 33.14 | 41.74 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-94.36
Distress
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $93.3M | $45.2M | $120.1M |
| Net Income | -$27.4M | -$13.7M | $60.2M |
| EPS | $-75.00 | $-37.50 | $165.00 |
| # Analysts (EPS) | 1 | 1 | 1 |
Revenue Segments
By Product
| Segment | 2020 |
|---|---|
| CFF Research Grant Revenue | $125.0K |