2023-04-19 13:19:34 ET
Matinas BioPharma ( NYSE: MTNB ) gained ~25% on Wednesday as the shares of the clinical-stage biotech continued to rally following limited but impactful data for its antimicrobial therapy MAT2203 targeted at patients with rare fungal infection R. mucilaginosa .
Citing data from a case where MAT2203 was allowed under compassionate use, Matinas ( MTNB ) said that a patient with R. mucilaginosa ended four months of therapy in January after achieving complete clinical resolution.
The patient who had developed severe kidney toxicities attributed to intravenous-amphotericin B, a complication linked to its long-term use, also regained the use of her foot, which was at risk of amputation due to infection.
"The outcomes observed in this compassionate use case are highly encouraging, although we recognize the data are limited," Chief Executive of Matinas ( MTNB ) Theresa Matkovits remarked.
"We are extremely pleased with the positive clinical impact that MAT2203, oral amphotericin B, had on an extremely ill patient with very limited treatment options," said Marisa Miceli, a Professor of Medicine at the University of Michigan.
Dr. Miceli and her term led a presentation on Tuesday's data readout at the European Congress of Clinical Microbiology & Infectious Diseases.
Matinas ( MTNB ) is in the final stages of planning a Phase 3 program for MAT2203 in consultation with the FDA.
MTNB is a favorite on Wall Street with three Buy ratings and no Hold or Sell ratings.
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Matinas jumps 25% to hit four-month high on data for anti-fungal agent