Matinas Faces Delisting Risk After Reporting $4.83M Equity Against $6M Requirement
Matinas BioPharma reported stockholders’ equity of $4.83 million as of December 31, 2025, and received an April 2 notice that it failed to meet NYSE American’s $6.0 million equity requirement after five years of losses. The company must submit a compliance plan by May 2, 2026, to avoid delisting proceedings.
1. Notice of Non-Compliance
On April 2, 2026, Matinas BioPharma received a notice from the NYSE American stating it failed to satisfy the continued listing standards requiring at least $6.0 million in stockholders’ equity after reporting losses in each of the past five fiscal years, with its equity standing at $4.83 million as of December 31, 2025.
2. Compliance Plan and Cure Period
The company has until May 2, 2026 to submit a plan detailing actions it has taken or will take to regain compliance, and if accepted, may use an 18-month cure period subject to quarterly monitoring until it meets the equity requirements.
3. Delisting Procedures
If the NYSE American does not accept the compliance plan, formal delisting proceedings will commence under the exchange’s rules, though Matinas retains the right to appeal any staff delisting decision under Section 1010 and Part 12 of the company guide.
4. Business Impact
The notice does not affect the current trading of Matinas shares or its reporting obligations, and ongoing operations remain unchanged, although the independent auditor’s report has previously highlighted substantial doubt about the company’s ability to continue as a going concern.