Matinas BioPharma's shares have soared to 31 cents following the successful clinical resolution of a patient's recurrent hemorrhagic cystitis. The condition was caused by Candida krusei, a fluconazole inherited resistant fungal pathogen. The patient was treated with MAT2203, an oral formulation of the potent antifungal amphotericin B.
The surge in shares comes after a recent low of 11 cents on Aug. 10. Over the past year, the stock has experienced a 55% decrease in value.
Successful Treatment Outcome
MAT2203 proved highly effective in treating the patient, leading to the complete resolution of symptoms and improvement of kidney function back to baseline levels. Within just 14 days of MAT2203 treatment, the patient's urine culture showed no presence of C. krusei.
Expanding Treatment Program
Currently, 11 patients who had no other treatment options are either receiving or have completed treatment with MAT2203 under this program. The company is also considering several additional cases for treatment. In each instance, patients were unresponsive or resistant to azole therapy or unable to receive it due to drug/drug interactions.
Positive Renal Effects
Patients who had experienced serious renal toxicity while receiving IV-amphotericin B were successfully treated with MAT2203. This led to the reversal of renal toxicity and the restoration of normal renal function.
Global Licensing and Approval
It is important to note that MAT2203 has not yet received licensing or approval on a global scale.