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Matinas BioPharma ( (MTNB) ) has issued an update.
Matinas BioPharma Holdings has announced an 80% workforce reduction and halted its product development activities as a strategic move to conserve cash following the termination of partnership negotiations for its MAT2203 product. The company is considering options such as a potential asset sale or even dissolving the company itself. This drastic measure comes as Matinas seeks to navigate significant financial challenges and uncertainties in the biotech industry.
For detailed information about MTNB stock, go to TipRanks’ Stock Analysis page.