Matinas BioPharma Holdings Inc

Matinas BioPharma Holdings announced on Friday that it received a non-compliance notice from NYSE American for falling below the exchange's stockholders' equity requirement. The company reported $1.8 million in stockholders' equity as of June 30, below the required $2.0 million, and has posted losses in each of the past five fiscal years. NYSE American has granted the company until October 2, 2027, to regain compliance under its existing plan. The notice does not immediately affect the stock's listing or operations, but failure to regain compliance could lead to delisting proceedings.

Matinas BioPharma Holdings has announced a merger with GH Power to form a publicly traded clean energy and green hydrogen company, while separately selling its lipid nano-crystal technology and antifungal candidate MAT2203 to Azurity Pharmaceuticals. Under the merger, the combined entity will be called GH Power International and list on the NYSE, focusing on advanced clean energy solutions using proprietary modular reactors that convert scrap metals and water into high-purity alumina, clean hydrogen, and thermal energy. The sale to Azurity includes a $4 million upfront payment, up to $17.5 million in milestone payments, and future mid-single-digit royalties. The dual transaction marks a strategic pivot for Matinas from biopharmaceutical development to clean energy and critical materials. Matinas shares closed Monday at $0.48, down 36.45%, and fell a further 16.04% in overnight trading to $0.40.

Matinas BioPharma has received an additional notice from the NYSE American for failing to meet the stockholders' equity requirement of at least $4 million after reporting losses in three of its four most recent fiscal years. The company had stockholders' equity of $3.02 million as of March 31, 2026, and has incurred losses in the five most recent fiscal years. This follows an earlier notice in April 2026 for not meeting the $6 million minimum equity threshold for companies with losses in five consecutive years. The NYSE has accepted Matinas' compliance plan, granting a plan period through October 2, 2027, during which the company can maintain its listing while undergoing quarterly monitoring. If compliance is not regained by the end of the plan period, delisting proceedings may begin.