Midatech Pharma PLC Announces Receipt of NASDAQ Notification

Rhea-AI Summary

Midatech Pharma has announced that it has regained compliance with NASDAQ Listing Rule 5550(a)(2) after the closing bid price of its American Depositary Shares was above $1.00 for 10 consecutive business days, from September 26 to October 9, 2022. This notification was received on October 10, 2022. The company specializes in drug delivery technologies aimed at improving the bio-delivery and biodistribution of medicines, supported by 36 patent families.

Positive

• Regained compliance with NASDAQ Listing Rule 5550(a)(2), indicating improved stock performance.

Negative

• None.

ABINGDON, OXFORDSHIRE / ACCESSWIRE / October 18, 2022 / Midatech Pharma (AIM:MTPH)(NASDAQ:MTP), an R&D biotechnology company focused on improving the bio-delivery and biodistribution of medicines, announces that further to the Company's announcement on 14 April 2022, it has received written notification dated 10 October 2022 (the "Notification Letter") from The NASDAQ Stock Market LLC ("NASDAQ") that for 10 consecutive business days, from 26 September 2022 to 9 October 2022, the closing bid price of the Company's American Depositary Shares had been at $1.00 per share or greater and, accordingly, the Company has regained compliance with NASDAQ Listing Rule 5550(a)(2).

For further information, please contact:

Midatech Pharma PLC
Stephen Stamp, CEO, CFO
Tel: +44 (0)29 20480 180
www.midatechpharma.com

Strand Hanson Limited (Nominated and Financial Adviser)

James Dance / Matthew Chandler / Rob Patrick

Tel: +44 (0)20 7409 3494

IFC Advisory Limited (Financial PR and UK Investor Relations)

Tim Metcalfe / Graham Herring

Tel: +44 (0)20 3934 6630

Email: midatech@investor-focus.co.uk

Edison Group (US Investor Relations)

Alyssa Factor

Tel: +1 (860) 573 9637

Email: afactor@edisongroup.com

About Midatech Pharma PLC

Midatech Pharma PLC (dual listed on LSE AIM:MTPH; and NASDAQ:MTP) is a drug delivery technology company focused on improving the bio-delivery and bio-distribution of medicines. The Company combines approved and development medications with its proprietary and innovative drug delivery technologies to provide compelling products that have the potential to powerfully impact the lives of patients.

The Company has developed three in-house technology platforms, each with its own unique mechanism to improve delivery of medications to sites of disease. All of the Company's technologies have successfully entered human use in the clinic, providing important validation of the potential for each platform:

• Q-Sphera™ platform: a disruptive micro-technology used for sustained release to prolong and control the release of therapeutics over an extended period of time (from weeks to months).
• MidaSolve™ platform: an innovative nanotechnology used to dissolve insoluble drugs so that they can be administered in liquid form directly and locally into tumours.
• MidaCore™ platform: a leading-edge nanotechnology used for targeting medications to sites of disease.

The platform nature of the technologies offers the potential to develop multiple drug assets rather than being reliant on a limited number of programmes. Midatech's technologies are supported by 36 patent families including 120 granted patents and an additional 70 patent applications. Midatech's headquarters and R&D facility is in Cardiff, UK. For more information please visit www.midatechpharma.com.

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SOURCE: Midatech Pharma PLC

View source version on accesswire.com:
https://www.accesswire.com/720747/Midatech-Pharma-PLC-Announces-Receipt-of-NASDAQ-Notification

FAQ

What is the recent announcement from Midatech Pharma (MTP) regarding NASDAQ compliance?

Midatech Pharma announced on October 10, 2022, that it has regained compliance with NASDAQ Listing Rule 5550(a)(2) after its stock price was above $1.00 for 10 consecutive business days.

When did Midatech Pharma (MTP) regain NASDAQ compliance?

Midatech Pharma regained NASDAQ compliance on October 10, 2022.

What is the significance of NASDAQ Listing Rule 5550(a)(2) for Midatech Pharma (MTP)?

Compliance with NASDAQ Listing Rule 5550(a)(2) is significant as it allows Midatech Pharma to remain listed on the NASDAQ exchange and indicates a recovery in stock price.

What technologies does Midatech Pharma (MTP) focus on?

Midatech Pharma focuses on drug delivery technologies that improve the bio-delivery and bio-distribution of medicines, utilizing proprietary platforms such as Q-Sphera™, MidaSolve™, and MidaCore™.