Proactive Investors - Run By Investors For Investors

Midatech Pharma outlines plans for drug candidate as it updates on funding position

The company provided a stark assessment of its finances
Midatech Pharma outlines plans for drug candidate as it updates on funding position
The Midatech drug is easier to inject than the current standard of care

Midatech Pharma Plc (LON:MTPH, NASDAQ:MTP) outlined plans for its lead drug candidate as it updated on its funding position by stating it currently had “very limited cash”.

The former first: The company said that, after consultation with the US Food & Drug Administration, it was considering two scenarios for MTD201 Q-Octreotide, which is being developed to treat rare and debilitating tumour types.

READ: Midatech secures €1.5mln loan from Basque government on friendly terms

Midatech has to decide whether to conduct a multi-dose study in healthy volunteers, or to treat patients with the diseases.

An exploratory study last year showed MTD201, which uses a sustained release technology, to have a “number of competitive advantages" over the current standard of care, Novartis' Sandostatin LAR.

The Midatech drug, which is based on the company’s patented Q-Sphera platform, requires a smaller needed needle, is simpler and easier to inject as well as being cheaper than the Novaris treatment.

The life sciences group said it is currently planning to make a marketing authorisation submissions in 2021 and expects to have the required clinical data by then.

In the same announcement, Midatech said it was looking to conclude talks with an unnamed strategic investor as it has “very limited cash to enable it to continue as a going concern”.

“There is no guarantee that the company will be able to conclude these funding discussions on terms or quantum similar to those outlined in the update announcement or at all,” investors were told.

View full MTPH profile View Profile

Midatech Pharma PLC Timeline

Related Articles

Scientist at work
May 28 2019
CaPre, a potent form of Omega-3, has been shown to reduce triglycerides, but also lower 'bad cholesterol' levels, and raise 'good' ones
Oncoprex
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
scientist at petrie dish
May 15 2019
Here we take a closer look at Midatech Pharma PLC (LON:MTPH)

© Proactive Investors 2019

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