Matinas BioPharma Receives Notice of Non-Compliance with NYSE American Continued Listing Standards

Matinas BioPharma remains listed on NYSE American but faces a 2027 deadline to restore stockholders’ equity to required levels.

Rhea-AI Summary

Matinas BioPharma (MTNB) has received a notice from NYSE American that it is not in compliance with Section 1003(a)(i) continued listing standards. The rule requires at least $2.0 million in stockholders’ equity when a company has recent operating or net losses.

As of June 30, 2026, Matinas BioPharma reported $1.8 million in stockholders’ equity and losses in each of its five most recent fiscal years ended December 31, 2025. The company was already noncompliant with Sections 1003(a)(ii) and 1003(a)(iii), and remains subject to Section 1009 procedures.

NYSE American has accepted the company’s previously submitted compliance plan and granted a plan period through October 2, 2027. Shares will continue trading on NYSE American during this period, with the .BC noncompliance indicator, provided other listing requirements are met.

Positive

• NYSE American accepted Matinas BioPharma’s compliance plan with a plan period through October 2, 2027.
• The notice has no immediate impact on the listing or trading of MTNB shares on NYSE American during the plan period.
• The company states that the notice does not affect ongoing business operations or SEC reporting requirements.

Negative

• Stockholders’ equity was $1.8 million as of June 30, 2026, below the $2.0 million Section 1003(a)(i) requirement.
• Matinas BioPharma has reported losses from continuing operations and/or net losses in its five most recent fiscal years ended December 31, 2025.
• The company is noncompliant with Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii), increasing overall listing risk.
• If equity standards are not met by October 2, 2027, or plan progress is insufficient, NYSE American may initiate delisting proceedings.

News Explained

The notice does not affect Matinas BioPharma’s ongoing business operations or its reporting requirements with the Securities and Exchange Commission, so the disclosed change is confined to its continued-listing status.

Market Context

On July 13, MTNB’s business-combination announcement was followed by a 36.45% decline. That historic...

Analysis

On July 13, MTNB’s business-combination announcement was followed by a 36.45% decline. That historical divergence adds context to this compliance notice, while the plan deadline and delisting conditions remain key items to monitor.

Key Figures

Required stockholders' equity: $2.0 million Stockholders' equity: $1.8 million Loss-making fiscal years: 5 fiscal years +2 more

5 metrics

Required stockholders' equity $2.0 million NYSE American Section 1003(a)(i) standard

Stockholders' equity $1.8 million As of June 30, 2026

Loss-making fiscal years 5 fiscal years Most recent fiscal years ended December 31, 2025

Plan submission date May 4, 2026 Compliance plan submitted to NYSE American

Plan period deadline October 2, 2027 Deadline to regain compliance

Historical Context

5 past events · Latest: Jul 30 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jul 30	Collaboration update	Positive	+6.5%	GH Power and TKMS continued exploring clean-energy integration for Canada's submarine project.
Jul 13	Business combination	Positive	-36.5%	GH Power combination and Azurity asset sale were announced with financing and closing conditions.
Jul 13	Strategic transaction	Positive	-36.5%	Matinas announced GH Power combination, asset sale, and preferred financing transactions.
Jun 26	Listing compliance notice	Negative	+3.4%	NYSE American accepted Matinas's plan to regain compliance with equity standards.
Apr 03	Listing compliance notice	Negative	+0.6%	NYSE American issued a notice after Matinas failed continued-listing equity thresholds.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent history showed divergence in four of five selected events; both prior noncompliance notices were followed by positive price reactions.

Key Terms

stockholders’ equity, continued listing standards, delisting proceedings

3 terms

stockholders’ equity financial

"requiring a company to have stockholders’ equity of at least $2.0 million"

Stockholders’ equity is the portion of a company’s value that belongs to its owners after subtracting what the company owes from what it owns — like the equity in a house after paying the mortgage. For investors it shows the company’s net worth and can indicate financial strength, a cushion against losses, and the amount potentially available to support dividends or reinvestment; tracking changes helps assess whether the business is building or eroding owner value.

continued listing standards regulatory

"not in compliance with the NYSE American continued listing standards"

Ongoing rules a stock exchange requires a listed company to meet to keep its shares trading publicly, such as minimum share price, market value, timely financial reports, and governance practices. Think of it as a membership checklist for a club: falling short can lead to warnings or removal from the exchange, which can sharply reduce liquidity, investor confidence, and a stock’s value. Investors watch these standards to gauge regulatory risk and the stability of their holdings.

delisting proceedings regulatory

"the NYSE American will initiate delisting proceedings as appropriate"

Delisting proceedings are the formal steps taken to remove a company’s shares from a stock exchange, either because the company chose to leave or failed to meet rules like minimum share price, reporting or solvency requirements. For investors this matters because removal usually cuts trading access and liquidity, can sharply lower the share price, and makes it harder to buy, sell or get transparent information — similar to a product being pulled off supermarket shelves.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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BEDMINSTER, N.J., Sept. 04, 2026 (GLOBE NEWSWIRE) -- Matinas BioPharma Holdings, Inc. (the “Company”) (NYSE American: MTNB) announced today that on August 31, 2026, it received a notice (the “Notice”) from the NYSE American LLC (the “NYSE American”) stating that the Company is not in compliance with the NYSE American continued listing standards set forth in Section 1003(a)(i) of the NYSE American Company Guide (the “Company Guide”) requiring a company to have stockholders’ equity of at least $2.0 million if it has reported losses from continuing operations and/or net losses in two of its three most recent fiscal years. As of June 30, 2026, the Company had stockholders’ equity of $1.8 million and has had losses from continuing operations and/or net losses in its five most recent fiscal years ended December 31, 2025. As previously disclosed, the Company is also not in compliance with Section 1003(a)(ii) and Section 1003(a)(iii) of the Company Guide. Due to its noncompliance with Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the Company Guide, the Company is subject to the procedures and requirements of Section 1009 of the Company Guide.

As previously disclosed, on May 4, 2026, the Company submitted a plan (the “Plan”) to the NYSE American to regain compliance with the continued listing standards and the NYSE American accepted the Plan and granted the Company a plan period through October 2, 2027 (the “Plan Period,” and such date, the “Plan Period Deadline”). If the Company is not in compliance with all stockholders’ equity standards by the Plan Period Deadline, or does not make progress consistent with the Plan during the Plan Period, the NYSE American will initiate delisting proceedings as appropriate. The Company may appeal a staff delisting determination in accordance with Section 1010 and Part 12 of the Company Guide.

The Notice has no immediate impact on the listing of the Company’s shares of common stock, which will continue to be listed and traded on the NYSE American during the Plan Period, subject to the Company’s compliance with the other listing requirements of the NYSE American. The Company will continue to be included in the list of NYSE American noncompliant issuers and the .BC indicator will continue to be disseminated with the Company’s ticker symbol(s). The .BC indicator will be removed when the Company has regained compliance with all applicable continued listing standards. The Notice does not affect the Company’s ongoing business operations or its reporting requirements with the Securities and Exchange Commission.

About Matinas BioPharma

Matinas BioPharma is a biopharmaceutical company focused on delivering groundbreaking therapies using its lipid nanocrystal (LNC) platform delivery technology.

About MAT2203

Matinas BioPharma’s MAT2203 is a potential oral broad-spectrum treatment for invasive deadly fungal infections. Although amphotericin B is a fungicidal agent, it is currently only available through an intravenous route of administration, which is known to be associated with several significant safety issues such as renal toxicity and anemia due to very high circulating levels of amphotericin B. MAT2203 has the potential to overcome the significant limitations of the currently available amphotericin B products due to its targeted oral delivery. Combining comparable fungicidal activity with targeted delivery results in a lower risk of toxicity and potentially creates the ideal antifungal agent for the treatment of invasive fungal infections. MAT2203 was successfully evaluated in the completed Phase 2 EnACT study in HIV patients suffering from cryptococcal meningitis, meeting its primary endpoint and achieving robust survival. MAT2203 was planned to be further evaluated in a single Phase 3 registration trial as an oral step-down monotherapy following treatment with AmBisome (liposomal amphotericin B) compared with the standard of care in patients with invasive aspergillosis who have limited treatment options.

For more information, please visit www.matinasbiopharma.com.

Forward-Looking Statements

This release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, contained in this release are forward-looking statements. Forward-looking statements contained in this release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “suggest,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including with respect to the Company’s plans related to regaining compliance with the NYSE American’s continued listing standards. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company in general, see the risk disclosures in the Annual Report on Form 10-K of the Company for the year ended December 31, 2025 and in other filings made with the Securities and Exchange Commission by the Company. All such forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise.

Investor Contact

Jerome D. Jabbour
Chief Executive Officer
operations@matinasbiopharma.com

FAQ

Why did Matinas BioPharma (MTNB) receive a non-compliance notice from NYSE American?

Matinas BioPharma received the notice because it is not in compliance with Section 1003(a)(i), which requires at least $2.0 million in stockholders’ equity when a company has recent operating or net losses. The company reported $1.8 million in equity as of June 30, 2026.

What NYSE American listing standards is Matinas BioPharma (MTNB) currently not meeting?

The company is not in compliance with Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the NYSE American Company Guide. These sections relate to minimum stockholders’ equity levels in the context of reported operating or net losses.

How long does Matinas BioPharma (MTNB) have to regain NYSE American compliance?

NYSE American has granted Matinas BioPharma a plan period through October 2, 2027 to regain compliance with the continued listing standards. If it is not compliant by this deadline, or does not make plan-consistent progress, delisting proceedings may be initiated.

Will Matinas BioPharma (MTNB) be delisted from NYSE American immediately after this notice?

No. The notice has no immediate impact on the listing of Matinas BioPharma’s common stock. Shares will continue to trade on NYSE American during the plan period, subject to compliance with other listing requirements and progress under the accepted plan.

How does the NYSE American non-compliance notice affect Matinas BioPharma’s (MTNB) operations?

The company states that the notice does not affect ongoing business operations or its reporting obligations with the SEC. The main impact is on listing status and the requirement to restore stockholders’ equity within the defined plan period.

What is the .BC indicator shown with Matinas BioPharma (MTNB) on NYSE American?

The .BC indicator signifies that Matinas BioPharma is a noncompliant issuer on NYSE American. This flag will continue to accompany the MTNB ticker until the company has regained compliance with all applicable continued listing standards.

Can Matinas BioPharma (MTNB) appeal a potential delisting by NYSE American?

Yes. If NYSE American staff issues a delisting determination, Matinas BioPharma may appeal in accordance with Section 1010 and Part 12 of the NYSE American Company Guide, following the procedures described there.