Mateon Therapeutics (MATN) Earns “Hold” Rating from HC Wainwright

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HC Wainwright reiterated their hold rating on shares of Mateon Therapeutics (OTCMKTS:MATN) in a research report released on Monday morning, reports.

“Valuation and potential impediments to achieving it. We are maintaining our Neutral rating on the shares and continue to not issue a price target currently. As mentioned above, we would look to potentially reassess our valuation following closing of the merger, additional due diligence on the new entity, and visibility into the ability to fund its programs. Underlying risk in the shares remain failed or inconclusive clinical trials or inability of the company to secure adequate funding to progress its drugs through the development pathway.”,” HC Wainwright’s analyst wrote.

Separately, ValuEngine upgraded Mateon Therapeutics from a sell rating to a hold rating in a research note on Wednesday, January 2nd.

Shares of OTCMKTS:MATN opened at $0.09 on Monday. The firm has a market capitalization of $3.94 million, a price-to-earnings ratio of -0.18 and a beta of 2.71. Mateon Therapeutics has a 1 year low of $0.05 and a 1 year high of $0.31.

Mateon Therapeutics Company Profile

Mateon Therapeutics, Inc, a clinical-stage biopharmaceutical, focuses on developing small molecule injectable drugs for the treatment of cancer. It is developing CA4P, an immuno-oncology agent that stimulates the immune system against the tumor; and OXi4503 for the treatment of relapsed/refractory acute myeloid leukemia.

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