Matinas BioPharma FY23 EPS $(0.11) Vs $(0.10) YoY
Portfolio Pulse from Benzinga Newsdesk
Matinas BioPharma reported a FY23 EPS of $(0.11), a slight decrease from $(0.10) YoY. Revenue for 2023 was $1.1 million, down from $3.2 million in 2022, primarily from collaborations with BioNTech SE and Genentech Inc. Total costs and expenses decreased to $24.9 million from $27.8 million. The net loss widened to $22.9 million from $21.0 million. Cash reserves at the end of 2023 stood at $13.8 million, down from $28.8 million, with projections indicating sufficient funds through Q3 2024.
March 27, 2024 | 8:34 pm
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NEGATIVE IMPACT
Matinas BioPharma's FY23 report shows a decrease in EPS and revenue, with a widened net loss but reduced costs. Cash reserves are sufficient through Q3 2024.
The decrease in EPS and revenue, along with a widened net loss, could negatively impact investor sentiment towards MTNB in the short term. However, the reduction in costs and the company's confidence in its cash reserves to last through Q3 2024 might provide some reassurance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
BioNTech SE's collaboration with Matinas BioPharma contributed to the latter's 2023 revenue.
While the collaboration with BioNTech SE contributed to Matinas BioPharma's revenue, the overall financial performance of MTNB is more significantly influenced by its wider financial results and projections. The direct impact on BNTX is likely minimal in the short term.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Genentech Inc., a member of the Roche Group, contributed to Matinas BioPharma's 2023 revenue through collaboration.
Genentech Inc.'s collaboration with Matinas BioPharma is noted as a revenue source for MTNB in 2023. However, given the broader context of Matinas BioPharma's financial performance, the direct short-term impact on RHHBY (Roche) is likely limited.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50