MTNB · Matinas BioPharma Holdings, Inc.

This delisting notice represents a HIGH material event because it directly threatens the Company’s exchange listing — a critical factor for liquidity, institutional investor eligibility, and market credibility. The core issue is structural: Matinas BioPharma reported $4.83 million in stockholders’ equity as of December 31, 2025, which falls short of the $6.0 million minimum mandated by NYSE American Rule 1003(a)(iii) for companies with losses in all five most recent fiscal years — a condition explicitly confirmed in both the main filing and Exhibit 99.1. While the Company retains full trading privileges during the cure period, the risk of delisting is tangible and time-bound: failure to submit an acceptable compliance plan by May 2, 2026, or subsequent rejection triggers formal delisting proceedings. The inclusion of a going-concern qualification in the 2025 Form 10-K audit report further underscores the severity, indicating that auditors have substantial doubt about the Company’s ability to continue as a going concern — a condition often correlated with equity deficits and operational cash burn. Although the filing states the notice has no immediate impact on operations or SEC reporting, investors must recognize that regaining compliance will likely require either significant capital infusion (e.g., equity financing), debt restructuring, or asset monetization — none of which are disclosed as underway. The absence of any disclosed remediation actions or funding commitments heightens execution risk, and the 18-month cure window remains contingent on NYSE American’s discretionary acceptance of the yet-unsubmitted plan.