111 Equity Group Increases Stake To 5.17% In Matinas Biopharma As Strategic Review Underway Including Asset Sale Of MAT2203; $10.3M Cash Reported Which Would Equate To Roughly $2.13 Cash Per Share Value

111 Equity Group, LLC ("111 Equity") and its principal filed a Schedule 13D with the Securities and Exchange Commission ("SEC") to disclose that 111 Equity and its principal have collectively accumulated a 5.17% stock ownership stake in Matinas Biopharma Holdings, Inc. (NYSE:MTNB) ("MTNB") as of January 2, 2025. Since this filing, the principal of 111 Equity bought more shares to increase 111 Equity's and the principal's collective ownership in MTNB as 111 Equity believes MTNB provides an opportunity for shareholders to enhance shareholder value. MTNB announced the start of a strategic review in late October 2024. 111 Equity believes there are avenues to enhance shareholder value as a part of this strategic review, including, without limitation, monetizing certain existing assets (including the potential asset sale of MAT2203, MTNB's lead Phase 3 ready antifungal drug candidate), leveraging MTNB's value as a listed security on NYSE for potential merger candidates, and leveraging and maintaining MTNB's balance sheet.

As of MTNB's most recent 10-Q (filed on November 13, 2024), MTNB has reported $10,295,000 in cash and cash equivalents which would equate to roughly $2.13 cash per share value, which is below the stock's closing price of $0.55 on January 16, 2025. 111 Equity understands that there has been additional cash burn due to MTNB laying off 80% of the workforce; however, it is 111 Equity's belief that the cash on hand will still be greater than the current market cap of MTNB.