Why Matinas BioPharma Holdings Shot Almost 28% Higher Today

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Shares of clinical-stage company Matinas BioPharma Holdings (NYSEMKT: MTNB) increased a robust 27.9% on Monday, following news that it won a crucial nod from the Food and Drug Administration.

Matinas said Monday that it received conditional approval from the FDA for the brand name of its leading pipeline drug, MAT9001/Lypdiso. That name has also been accepted via a notice of allowance by the U.S. Patent and Trademark Office, paving the way for Lypdiso to become a registered trademark for the company.

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