Matinas Biopharm Financials
This page shows Matinas Biopharm (MTNB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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).
Matinas’ 2025 reset turned a research-driven cash burn into an overhead-driven operating loss supported by fresh financing.
Between FY2024 and FY2025, R&D spending collapsed from$11.4M to$85K , which explains much of the narrower loss without needing any revenue improvement. Because SG&A still ran at$6.9M and operating cash flow was-$7.0M , the burn now looks more like corporate upkeep than active pipeline investment.
FY2025’s cash use and operating loss were almost identical, implying little non-cash cushioning and fairly direct earnings quality: this loss mostly consumed real cash, not accounting adjustments. With
The balance sheet was not debt-heavy: total liabilities were only
Financial Health Signals
Matinas Biopharm does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Matinas Biopharm passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
Matinas Biopharm reported a net loss of $10.3M while operations used $7.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
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.
Matinas Biopharm reported -$10.3M in net income in fiscal year 2025. This represents an increase of 57.3% from the prior year.
Matinas Biopharm earned -$2.00 per diluted share (EPS) in fiscal year 2025. This represents an increase of 59.8% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Matinas Biopharm held $4.0M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Matinas Biopharm invested $85K in research and development in fiscal year 2025. This represents a decrease of 99.3% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
MTNB Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | $1.1M-65.6% | $3.2M+9560.6% | $33K-79.2% | $158K+76.3% | $90K-25.0% | $120K-20.0% | $150K | $0-100.0% | $194K | $0 | N/A |
| R&D Expenses | N/A | $85K-99.3% | $11.4M-21.1% | $14.5M-13.1% | $16.7M+14.4% | $14.6M+1.6% | $14.4M+27.8% | $11.2M+65.5% | $6.8M-24.7% | $9.0M+128.3% | $3.9M-25.4% | $5.3M+2.3% | $5.2M+193.8% | $1.8M |
| SG&A Expenses | N/A | $6.9M-21.2% | $8.7M-15.8% | $10.4M-6.5% | $11.1M+9.0% | $10.2M+1.8% | $10.0M+28.7% | $7.8M-2.5% | $8.0M+4.4% | $7.6M+77.3% | $4.3M-10.5% | $4.8M-9.0% | $5.3M+171.1% | $2.0M |
| Operating Income | N/A | -$7.0M+71.7% | -$24.6M-3.5% | -$23.8M+3.4% | -$24.6M+0.6% | -$24.7M-2.2% | -$24.2M-27.9% | -$18.9M-29.2% | -$14.6M+11.2% | -$16.5M-99.9% | -$8.3M+16.7% | -$9.9M+5.3% | -$10.5M-181.9% | -$3.7M |
| Income Tax | N/A | N/A | -$80K | N/A | N/A | N/A | N/A | N/A | $507K+26.7% | $400K | N/A | N/A | $270K | N/A |
| Net Income | N/A | -$10.3M+57.3% | -$24.3M-5.7% | -$22.9M-9.3% | -$21.0M+9.8% | -$23.3M-3.7% | -$22.4M-29.2% | -$17.4M-23.4% | -$14.1M+9.1% | -$15.5M-103.8% | -$7.6M+16.8% | -$9.1M+10.6% | -$10.2M-175.3% | -$3.7M |
| EPS (Diluted) | — | -$2.00+59.8% | -$4.98+5.7% | -$5.28 | -$0.10 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Interest Expense.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
MTNB Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $7.2M-43.0% | $12.6M-49.6% | $25.1M-44.0% | $44.8M-26.9% | $61.3M-13.6% | $71.0M+76.4% | $40.2M+101.8% | $19.9M+38.3% | $14.4M+46.9% | $9.8M+16.8% | $8.4M+150.1% | $3.4M-70.3% | $11.3M |
| Current Assets | $4.1M-49.2% | $8.0M-48.4% | $15.5M-55.0% | $34.5M-32.3% | $51.0M-17.2% | $61.6M+105.7% | $29.9M+128.7% | $13.1M+64.3% | $8.0M+74.4% | $4.6M+28.3% | $3.6M+26.9% | $2.8M-74.3% | $10.9M |
| Cash & Equivalents | $4.0M-45.1% | $7.3M+52.2% | $4.8M-29.9% | $6.8M-67.5% | $21.0M+69.2% | $12.4M-43.9% | $22.2M+78.1% | $12.4M+70.3% | $7.3M+78.0% | $4.1M+27.2% | $3.2M+24.6% | $2.6M-76.1% | $10.8M |
| Goodwill | N/A | N/A | $1.3M0.0% | $1.3M0.0% | $1.3M0.0% | $1.3M0.0% | $1.3M0.0% | $1.3M0.0% | $1.3M0.0% | $1.3M0.0% | $1.3M | $0 | N/A |
| Total Liabilities | $2.4M-52.9% | $5.1M-13.8% | $5.9M-28.4% | $8.2M-7.4% | $8.8M+22.0% | $7.2M+0.7% | $7.2M+89.1% | $3.8M+1.6% | $3.7M+40.3% | $2.7M+14.3% | $2.3M+105.9% | $1.1M+32.0% | $859K |
| Current Liabilities | $1.5M-45.1% | $2.7M+1.7% | $2.6M-38.8% | $4.3M-1.4% | $4.3M+21.9% | $3.6M+15.2% | $3.1M+9.1% | $2.8M+60.5% | $1.8M+22.5% | $1.4M+28.0% | $1.1M+0.9% | $1.1M+30.2% | $859K |
| Total Equity | $4.8M-36.4% | $7.6M-60.6% | $19.2M-47.5% | $36.6M-30.2% | $52.5M-17.6% | $63.7M+92.8% | $33.1M+104.8% | $16.1M+51.1% | $10.7M+49.4% | $7.1M+17.7% | $6.1M+172.6% | $2.2M-78.7% | $10.5M |
| Retained Earnings | -$210.8M-5.5% | -$199.8M-13.8% | -$175.6M-15.0% | -$152.6M-16.0% | -$131.6M-22.4% | -$107.5M-27.4% | -$84.4M-28.0% | -$65.9M-28.6% | -$51.3M-45.8% | -$35.2M-51.7% | -$23.2M-65.0% | -$14.1M-266.8% | -$3.8M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Long-Term Debt.
MTNB Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$6.4M | -$7.0M+55.9% | -$15.9M-4.0% | -$15.3M+20.2% | -$19.2M-25.8% | -$15.2M+12.3% | -$17.4M-23.2% | -$14.1M-36.5% | -$10.3M+9.9% | -$11.5M-87.3% | -$6.1M+21.7% | -$7.8M+1.8% | -$8.0M-166.5% | -$3.0M |
| Capital Expenditures | N/A | N/A | N/A | $218K-75.6% | $892K+243.1% | $260K+4422.5% | $6K-98.6% | $406K-24.3% | $536K-43.1% | $942K | $0-100.0% | $76K-73.6% | $289K+206.3% | $94K |
| Free Cash Flow | N/A | N/A | N/A | -$15.5M+22.7% | -$20.0M-29.5% | -$15.5M+10.9% | -$17.4M-19.8% | -$14.5M-33.5% | -$10.9M+12.5% | -$12.4M-102.7% | -$6.1M+22.5% | -$7.9M+4.4% | -$8.2M-167.7% | -$3.1M |
| Investing Cash Flow | N/A | $335K-96.4% | $9.2M-30.5% | $13.2M+171.5% | $4.9M-70.9% | $16.8M+141.2% | -$40.7M-576.5% | -$6.0M-1021.7% | -$536K+43.1% | -$942K | N/A | -$5K | N/A | N/A |
| Financing Cash Flow | N/A | $3.4M-63.0% | $9.2M+131157.1% | -$7K-108.9% | $79K-98.9% | $7.0M-85.5% | $48.0M+61.0% | $29.9M+88.1% | $15.9M+1.7% | $15.6M+123.0% | $7.0M-17.3% | $8.5M | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
MTNB Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | N/A | N/A | -2168.4% | -771.3% | -74954.5% | -15288.4% | -21067.4% | -12230.9% | -11024.6% | N/A | -5096.0% | N/A | N/A |
| Net Margin | N/A | N/A | -2093.3% | -658.6% | -70554.5% | -14177.0% | -19343.4% | -11760.4% | -10345.9% | N/A | -4697.0% | N/A | N/A |
| 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%+17.3pp | -52.6%+34.7pp | -87.3%+57.7pp | -145.0%-38.7pp | -106.3%+44.2pp | -150.4%+308.3pp | -458.8%-423.3pp | -35.4% |
| 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%+11.5pp | -43.2%+27.5pp | -70.6%+36.8pp | -107.4%-30.0pp | -77.4%+31.3pp | -108.7%+195.4pp | -304.1%-271.3pp | -32.8% |
| Current Ratio | 2.79-0.2x | 3.01-2.9x | 5.93-2.1x | 8.06-3.7x | 11.73-5.5x | 17.25+7.6x | 9.66+5.1x | 4.61+0.1x | 4.50+1.3x | 3.160.0x | 3.15+0.6x | 2.51-10.2x | 12.72 |
| Debt-to-Equity | 0.49-0.2x | 0.67+0.4x | 0.30+0.1x | 0.22+0.1x | 0.17+0.1x | 0.11-0.1x | 0.220.0x | 0.24-0.1x | 0.350.0x | 0.370.0x | 0.38-0.1x | 0.51+0.4x | 0.08 |
| FCF Margin | N/A | N/A | -1413.9% | -628.9% | -46918.2% | -10972.8% | -16142.2% | -9066.5% | -8285.1% | N/A | -4057.0% | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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Where Matinas Biopharm Ranks
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) recorded an outflow of $7.0M in operating cash flow during fiscal year 2025, representing cash used by 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.
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 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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) reported a net loss of $10.3M while operations used $7.0M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.