What is Matinas Biopharm's earnings per share (EPS)?

Matinas Biopharm (MTNB) reported diluted earnings per share of $-2.00 for fiscal year 2025. This represents a 59.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Matinas Biopharm Financials

MTNB

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Matinas Biopharm (MTNB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI MTNB FY2025 2026-04-22

FY2025 became a burn-reset year as R&D spending largely disappeared, leaving cash runway dependent on financing.

By FY2025, operating cash burn at $7.0M almost matched the operating loss at $7.0M, so the reported loss was mostly cash leaving the business, not a non-cash accounting artifact. Because year-end cash was only $4.0M and financing supplied $3.4M during the year, liquidity depended more on fresh capital and expense cuts than on an internally funded runway.

The biggest operating change was a spending mix shift: R&D fell to $85K from $11.4M in FY2024. Since SG&A was still $6.9M, most spending went to keeping the company running rather than advancing development work.

The balance sheet stayed current even as it shrank, with a current ratio of 2.8x and total liabilities of $2.4M. With no long-term debt shown and debt-to-equity down from 0.7x to 0.5x, funding pressure came from ongoing cash burn, not creditor claims.

Financial Health Signals

Financial Profile 24/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Matinas Biopharm's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage

Matinas Biopharm carries a low D/E ratio of 0.49, meaning only $0.49 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 92/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Matinas Biopharm's current ratio of 2.79 indicates adequate short-term liquidity, earning a score of 53/100. The company can meet its near-term obligations, though with limited headroom.

Returns

Matinas Biopharm generates a -214.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -319.5% the prior year.

Piotroski F-Score Weak

2/9

Matinas Biopharm passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

0.68x

For every $1 of reported earnings, Matinas Biopharm generates $0.68 in operating cash flow (-$7.0M OCF vs -$10.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

-$6.9M

YoY+71.4%

Matinas Biopharm's EBITDA was -$6.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 71.4% from the prior year.

Net Income

-$10.3M

YoY+57.3%

Matinas Biopharm reported -$10.3M in net income in fiscal year 2025. This represents an increase of 57.3% from the prior year.

EPS (Diluted)

$-2.00

YoY+59.8%

Matinas Biopharm earned $-2.00 per diluted share (EPS) in fiscal year 2025. This represents an increase of 59.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$4.0M

YoY-45.1%

5Y CAGR-20.3%

10Y CAGR+2.2%

Matinas Biopharm held $4.0M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

YoY+25.9%

Matinas Biopharm had 6M shares outstanding in fiscal year 2025. This represents an increase of 25.9% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-214.2%

YoY+105.3pp

5Y CAGR-179.0pp

10Y CAGR-63.7pp

Matinas Biopharm's ROE was -214.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 105.3 percentage points from the prior year.

Capital Allocation

R&D Spending

$85K

YoY-99.3%

5Y CAGR-64.2%

10Y CAGR-33.8%

Matinas Biopharm invested $85K in research and development in fiscal year 2025. This represents a decrease of 99.3% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

MTNB Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	$1.1M-65.6%	$3.2M+9560.6%	$33K-79.2%	$158K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$85K-99.3%	$11.4M-21.1%	$14.5M-13.1%	$16.7M+14.4%	$14.6M+1.6%	$14.4M
SG&A Expenses	$6.9M-21.2%	$8.7M-15.8%	$10.4M-6.5%	$11.1M+9.0%	$10.2M+1.8%	$10.0M
Operating Income	-$7.0M+71.7%	-$24.6M-3.5%	-$23.8M+3.4%	-$24.6M+0.6%	-$24.7M-2.2%	-$24.2M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	-$80K	N/A	N/A	N/A	N/A
Net Income	-$10.3M+57.3%	-$24.3M-5.7%	-$22.9M-9.3%	-$21.0M+9.8%	-$23.3M-3.7%	-$22.4M
EPS (Diluted)	$-2.00+59.8%	$-4.98+5.7%	$-5.28	$-0.10	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$85K	N/A	N/A	N/A	$85K	N/A	$2.2M-33.6%	$3.4M
SG&A Expenses	$1.9M	N/A	$1.6M-14.2%	$1.8M-1.3%	$1.9M	N/A	$2.1M-13.2%	$2.5M
Operating Income	-$1.9M	N/A	-$1.6M+14.2%	-$1.8M+5.6%	-$1.9M	N/A	-$4.4M+25.0%	-$5.8M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$1.9M	N/A	-$1.5M+70.8%	-$5.2M-216.7%	-$1.7M	N/A	-$4.3M+25.2%	-$5.7M
EPS (Diluted)	$-0.30	N/A	$-0.40+61.2%	$-1.03-212.1%	$-0.33	N/A	$-0.85	$-1.15

MTNB Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$7.2M-43.0%	$12.6M-49.6%	$25.1M-44.0%	$44.8M-26.9%	$61.3M-13.6%	$71.0M
Current Assets	$4.1M-49.2%	$8.0M-48.4%	$15.5M-55.0%	$34.5M-32.3%	$51.0M-17.2%	$61.6M
Cash & Equivalents	$4.0M-45.1%	$7.3M+52.2%	$4.8M-29.9%	$6.8M-67.5%	$21.0M+69.2%	$12.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	$1.3M0.0%	$1.3M0.0%	$1.3M0.0%	$1.3M
Total Liabilities	$2.4M-52.9%	$5.1M-13.8%	$5.9M-28.4%	$8.2M-7.4%	$8.8M+22.0%	$7.2M
Current Liabilities	$1.5M-45.1%	$2.7M+1.7%	$2.6M-38.8%	$4.3M-1.4%	$4.3M+21.9%	$3.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$4.8M-36.4%	$7.6M-60.6%	$19.2M-47.5%	$36.6M-30.2%	$52.5M-17.6%	$63.7M
Retained Earnings	-$210.8M-5.5%	-$199.8M-13.8%	-$175.6M-15.0%	-$152.6M-16.0%	-$131.6M-22.4%	-$107.5M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$5.9M-18.5%	$7.2M-25.7%	$9.7M-15.1%	$11.4M-5.1%	$12.0M-4.8%	$12.6M-38.6%	$20.6M-15.5%	$24.4M
Current Assets	$2.8M-30.9%	$4.1M-27.9%	$5.7M-22.2%	$7.3M-3.7%	$7.5M-6.0%	$8.0M-31.6%	$11.7M-23.2%	$15.3M
Cash & Equivalents	$2.4M-40.0%	$4.0M-26.4%	$5.4M-16.7%	$6.5M-5.8%	$6.9M-4.9%	$7.3M-29.2%	$10.3M+144.2%	$4.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	$1.3M0.0%	$1.3M
Total Liabilities	$2.9M+19.9%	$2.4M-26.5%	$3.2M-13.7%	$3.7M-35.0%	$5.8M+14.1%	$5.1M+5.3%	$4.8M-8.8%	$5.3M
Current Liabilities	$2.1M+45.3%	$1.5M-2.1%	$1.5M-16.2%	$1.8M-20.9%	$2.3M-15.4%	$2.7M+25.5%	$2.1M-11.2%	$2.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$3.0M-37.4%	$4.8M-25.2%	$6.5M-15.8%	$7.7M+22.4%	$6.3M-17.4%	$7.6M-51.9%	$15.8M-17.4%	$19.1M
Retained Earnings	-$212.7M-0.9%	-$210.8M-0.9%	-$208.9M-1.0%	-$206.7M-2.6%	-$201.5M-0.8%	-$199.8M-4.4%	-$191.4M-2.3%	-$187.1M

MTNB Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$7.0M+55.9%	-$15.9M-4.0%	-$15.3M+20.2%	-$19.2M-25.8%	-$15.2M+12.3%	-$17.4M
Capital Expenditures	N/A	N/A	$218K-75.6%	$892K+243.1%	$260K+4422.5%	$6K
Free Cash Flow	N/A	N/A	-$15.5M+22.7%	-$20.0M-29.5%	-$15.5M+10.9%	-$17.4M
Investing Cash Flow	$335K-96.4%	$9.2M-30.5%	$13.2M+171.5%	$4.9M-70.9%	$16.8M+141.2%	-$40.7M
Financing Cash Flow	$3.4M-63.0%	$9.2M+131157.1%	-$7K-108.9%	$79K-98.9%	$7.0M-85.5%	$48.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$1.6M-6.1%	-$1.5M-2.4%	-$1.5M+27.1%	-$2.0M-0.7%	-$2.0M+42.8%	-$3.5M-0.3%	-$3.5M-12.7%	-$3.1M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	$15K	N/A	N/A	N/A	$500K-94.8%	$9.6M+428.3%	-$2.9M
Financing Cash Flow	$1.6M+2739.7%	$58K-9.4%	$64K-96.1%	$1.6M-1.5%	$1.6M+164800.0%	-$1K+98.5%	-$67K-100.7%	$9.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

MTNB Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	-2168.4%-1397.1pp	-771.3%+74183.2pp	-74954.5%-59666.2pp	-15288.4%
Net Margin	N/A	N/A	-2093.3%-1434.6pp	-658.6%+69895.9pp	-70554.5%-56377.6pp	-14177.0%
Return on Equity	-214.2%+105.3pp	-319.5%-200.3pp	-119.2%-61.9pp	-57.3%-13.0pp	-44.4%-9.1pp	-35.2%
Return on Assets	-143.5%+48.3pp	-191.8%-100.5pp	-91.4%-44.5pp	-46.9%-8.9pp	-38.0%-6.3pp	-31.6%
Current Ratio	2.79-0.2	3.01-2.9	5.93-2.1	8.06-3.7	11.73-5.5	17.25
Debt-to-Equity	0.49-0.2	0.67+0.4	0.30+0.1	0.22+0.1	0.17+0.1	0.11
FCF Margin	N/A	N/A	-1413.9%-785.0pp	-628.9%+46289.3pp	-46918.2%-35945.4pp	-10972.8%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-63.6%	N/A	-23.7%+44.6pp	-68.3%-41.9pp	-26.4%	N/A	-27.1%+2.9pp	-29.9%
Return on Assets	-32.7%	N/A	-15.8%+30.1pp	-45.9%-32.1pp	-13.8%	N/A	-20.8%+2.7pp	-23.5%
Current Ratio	1.32-1.5	2.79-1.0	3.78-0.3	4.07+0.7	3.35+0.3	3.01-2.5	5.53-0.9	6.39
Debt-to-Equity	0.94+0.5	0.490.0	0.50+0.0	0.49-0.4	0.92+0.3	0.67+0.4	0.30+0.0	0.28
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Matinas Biopharm profitable?

No, Matinas Biopharm (MTNB) reported a net income of -$10.3M in fiscal year 2025.

What is Matinas Biopharm's EBITDA?

Matinas Biopharm (MTNB) had EBITDA of -$6.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Matinas Biopharm's return on equity (ROE)?

Matinas Biopharm (MTNB) has a return on equity of -214.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Matinas Biopharm's operating cash flow?

Matinas Biopharm (MTNB) generated -$7.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Matinas Biopharm's total assets?

Matinas Biopharm (MTNB) had $7.2M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Matinas Biopharm spend on research and development?

Matinas Biopharm (MTNB) invested $85K in research and development during fiscal year 2025.

How many shares does Matinas Biopharm have outstanding?

Matinas Biopharm (MTNB) had 6M shares outstanding as of fiscal year 2025.

What is Matinas Biopharm's current ratio?

Matinas Biopharm (MTNB) had a current ratio of 2.79 as of fiscal year 2025, which is generally considered healthy.

What is Matinas Biopharm's debt-to-equity ratio?

Matinas Biopharm (MTNB) had a debt-to-equity ratio of 0.49 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Matinas Biopharm's return on assets (ROA)?

Matinas Biopharm (MTNB) had a return on assets of -143.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Matinas Biopharm's cash runway?

Based on fiscal year 2025 data, Matinas Biopharm (MTNB) had $4.0M in cash against an annual operating cash burn of $7.0M. This gives an estimated cash runway of approximately 7 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Matinas Biopharm's Piotroski F-Score?

Matinas Biopharm (MTNB) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Matinas Biopharm's earnings high quality?

Matinas Biopharm (MTNB) has an earnings quality ratio of 0.68x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Matinas Biopharm?

Matinas Biopharm (MTNB) scores 24 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.