MTP - MTP STOCK NEWS

Midatech Pharma PLC has conditionally agreed to acquire Bioasis Technologies Inc. for approximately C$7.4 million, transitioning to Biodexa Pharmaceuticals PLC. This acquisition aims to enhance the company's focus on rare diseases and therapeutics, moving away from a drug delivery platform. The transaction will be financed through a two-stage fundraising totaling US$10 million. Bioasis, with partnerships potentially exceeding US$200 million, has promising products for neurodegenerative diseases. The deal requires shareholder approval and a court's nod for completion.

Midatech Pharma announces the enrollment of the first patient in the Phase 1 MAGIC-G1 study of MTX110 for recurrent glioblastoma at Duke University. This open-label, dose escalation study will assess safety and feasibility, recruiting two cohorts of patients. MTX110, previously showing promise in treating DIPG, has FDA and EMA orphan drug designations. The study aims to tackle the challenges of blood-brain barrier penetration, a significant hurdle in glioblastoma therapies, with the potential for improved patient outcomes.

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.

Midatech Pharma has announced a change in the ratio of its American Depositary Receipts (ADRs), effective September 26, 2022. The new ratio will be one ADR representing twenty-five ordinary shares, up from one ADR for five. This mandatory exchange aims to align the ADR price with Nasdaq's minimum bid requirement of $1.00 per share, although success is not guaranteed. The change will not affect the ordinary shares directly. Existing ADR holders will need to surrender their old ADRs for new ones, with no fractional ADRs distributed.

Midatech Pharma Plc (AIM:MTP; NASDAQ:MTP) reported its unaudited interim results for the six months ending June 30, 2022. Total revenue increased to £0.47m compared to £0.40m in the same period last year, primarily from R&D collaborations. However, R&D costs rose 20% to £2.41m, and administrative expenses increased by 12% to £1.85m. The company's net cash used in operating activities was £3.54m, slightly higher than £3.11m in 2021. Cash balance as of June 30, 2022, was £6.42m. Operational highlights include FDA's Fast Track Designation for MTX110 and two R&D collaborations with Janssen.

Midatech Pharma PLC (AIM:MTPH.L)(Nasdaq:MTP) announced that its drug MTX110 has received Orphan Medicinal Product designation from the European Medicines Agency (EMA) for treating glioma. This designation is granted for medicines addressing life-threatening conditions with limited prevalence, facilitating drug development through various incentives. MTX110 targets recurrent glioblastoma in adults and DIPG in children, utilizing a unique delivery method to enhance drug concentration at the tumor site while minimizing systemic exposure. This milestone signifies a critical step toward potential treatment options for these severe cancers.

Midatech Pharma PLC (AIM:MTPH.L)(Nasdaq:MTP) has announced the presentation of interim results from a Phase 1 study on its drug MTX110 for treating Diffuse Intrinsic Pontine Glioma (DIPG). The presentation will occur on June 13, 2022, at the International Symposium on Pediatric Neuro-Oncology in Hamburg, Germany. Initial data will cover safety findings from seven patients using a continuous drug delivery system. MTX110 aims to enhance treatment efficacy against DIPG by allowing higher drug concentrations while reducing systemic toxicity.

Midatech Pharma PLC (AIM:MTPH.L)(Nasdaq:MTP) announced the planned retirement of Rolf Stahel, Chairman and non-executive director, after the Annual General Meeting (AGM) on June 20, 2022. Dr. Stephen Parker is set to succeed him as non-executive Chairman. Parker brings over 30 years of leadership experience in healthcare and biotech. CEO Stephen Stamp expressed gratitude for Stahel's contributions and optimism about Parker's potential to guide the company through its next phase. Midatech focuses on innovative drug delivery technologies aimed at enhancing therapeutic efficacy.

Midatech Pharma PLC (AIM:MTPH.L; NASDAQ:MTP) announced that its MTX110 treatment for recurrent glioblastoma has received Fast Track designation from the U.S. FDA. This designation facilitates development and review for serious conditions. Dmitry Zamoryakhin, CSO of Midatech, emphasized its significance for patients facing this aggressive cancer. MTX110, a water-soluble formulation of Panobinostat, will begin Phase I clinical studies soon, potentially improving treatment delivery directly to tumors while minimizing side effects.