Mateon Therapeutics (MATN) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Mateon Therapeutics (OTCMKTS:MATN) from a buy rating to a hold rating in a research note published on Thursday morning.

According to Zacks, “Mateon Therapeutics, Inc. is a biopharmaceutical company. The Company is focused on the development of vascular disrupting agents for the treatment of cancer. Its product pipeline consists of VDAs-CA4P and OXi4503, which are in preclinical trail stage. Mateon Therapeutics, Inc., formerly known as OXiGENE, Inc., is based in SOUTH SAN FRANCISCO, United States. “

Separately, HC Wainwright lowered shares of Mateon Therapeutics from a buy rating to a neutral rating in a research note on Friday, August 17th.

Shares of OTCMKTS:MATN remained flat at $$0.20 during trading on Thursday. 26,327 shares of the stock were exchanged, compared to its average volume of 30,762. Mateon Therapeutics has a 12 month low of $0.08 and a 12 month high of $0.31. The company has a market cap of $8.26 million, a price-to-earnings ratio of -0.38 and a beta of 1.99.

Mateon Therapeutics (OTCMKTS:MATN) last posted its quarterly earnings data on Tuesday, August 14th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.02. On average, analysts expect that Mateon Therapeutics will post -0.08 earnings per share for the current fiscal year.

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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