Matinas BioPharma falls on stock offering launch

Matinas BioPharma Holdings

09/01/2020 21:26

** Matinas BioPharma Holdings Inc  MTNB.K  falls about 14%
in extended trading after co announces follow-on
    ** MTNB surrendering nearly all of regular session's gain.
Stock closed up 16.5% at $1.91
    ** Co commences stock offering for ongoing development
activities for its product candidates, primarily MAT9001, its
omega-3 fatty acid-based drug; deal size not disclosed
 urn:newsml:reuters.com:*:nGNX66KR3N
    ** Piper Sandler and SunTrust acting as bookrunners for
offering    
    ** Co has 162.7 mln shares outstanding for market value of
~$300 mln, per Refinitiv data
    ** With Thurs gain, MTNB has risen ~151% over past one year 
  
    ** All 4 brokerages covering stock recommend buying with
median PT of $4 (Refinitiv data)

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