Matinas BioPharma: Drops on stock offering plans
15/03/2019 12:23
** Matinas BioPharma MTNB.A shares down 11 pct to $1.07
premarket as co looks to raise equity
** Co announces offering to fund ongoing development for its
product candidates, namely MAT9001, and its lipid nano-crystal
(“LNC”) platform delivery technology for treatment of
cardiovascular disease urn:newsml:reuters.com:*:nBw9t9blla
** Does not disclose size, but market sources say sole
bookrunner BTIG marketing deal size of ~$30 mln
** Prospective deal size would represent about 22 pct of
co's market cap of ~$135 mln, per Refinitiv data
** MTNB shares have doubled this year and have quadrupled
from 52-week low hit in Jun
((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))
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