Proactive Investors - Run By Investors For Investors

Midatech Pharma trading in line with forecasts with focus turning to clinical trials

The three studies will be closely monitored by investors
results graphic
The trading update showed revenues were going in the the right direction, while Midatech said its US arm broke even in the second-half

Midatech Pharma Plc (LON:MTPH, NASDAQ:MTP) said trading last year was in line with forecasts with the focus in 2018 turning to three key clinical trials.

A first in-human study of Q-Octreotide, for the treatment carcinoid cancer and the hormonal disorder acromegaly, is expected to complete late this year or early next year.

READ: Critical year ahead of drug development for Midatech Pharma

A clinical assessment of MTX110, an investigational nano-inclusion product for the treatment of the fatal childhood brain cancer, Diffuse Intrinsic Pontine Glioma (DIPG), is expected to read out towards the end of 2019. 

Phase IV trial

Midetech is also carrying out a phase IV trial of cancer care product Gelclair that could expand its addressable market. This will assess its use in stem cell patients suffering oral mucositis, a side-effect of the treatment.

Unlike many other drug development companies the nano-technology specialist has a revenue-generating commercial operation which sells four cancer care support products.

In an update on its trading, the firm said turnover for 2017 would likely be in the order of £7.4mln, up from £6.9mln and in line with market forecasts. US product sales are expected to be up by 29% at £6.7mln. Midatech said the American unit reached  break-even in the second-half.

Net cash balance December 2017 31 was £13.2m – also in line with forecasts.

View full MTPH profile View Profile

Midatech Pharma Plc Timeline

Related Articles

woman at a microscope
August 02 2018
Currently undergoing phase III clinical trials, AP101 is being developed to treat Epidermolysis Bullosa, a condition which occurs prominently in children and makes skin fragile to even the faintest touch
October 17 2018
The biotech was founded by an investment group led by scientists and driven by a no-nonsense CEO whose stake is more than just business as usual
Cancer cells
June 27 2018
The Nottingham-based privately-owned company has made an impressive fist of developing the OMIS (Opto-magnetic Imaging Spectroscopy) cancer detection system

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use