What's Going On With Matinas Biopharma Holdings Stock?

Matinas Biopharma Holdings, Inc. MTNB shares are trading higher on Wednesday after the company announced complete clinical resolution of a patient's recurrent hemorrhagic cystitis following treatment with MAT2203.

The Details:

The company announced the complete clinical resolution of a patient's recurrent hemorrhagic cystitis due to Candida krusei (C. krusei), a fluconazole inherited resistant fungal pathogen, following treatment with MAT2203, an oral formulation of the potent antifungal amphotericin B.

The patient was treated under Matinas' Expanded Access/Compassionate Use Program by Marisa H. Miceli, MD at the University of Michigan.

"We are thrilled with the positive clinical impact MAT2203 had on this extremely ill patient with limited treatment options," said Dr. Miceli.

"Treatment with MAT2203 led to complete resolution of his symptoms and improvement of his kidney function to baseline. Ultimately, the patient's urine culture was negative for C. krusei after just 14 days of treatment with MAT2203."

Shares of MTNB are moving on very heavy trading volume Wednesday. According to data from Benzinga Pro, more than 197 million shares have been traded in the session, far exceeding the stock's 100-day average of 1.146 million shares.

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MTNB Price Action: According to Benzinga Pro, Matinas Biopharma Holdings shares are up 113% at 33 cents at the time of publication.

Image: Trang Le from Pixabay