MTP - MTP STOCK NEWS

Midatech Pharma PLC (AIM:MTPH.L; NASDAQ:MTP) released its preliminary results for the year ending December 31, 2020. The company reported total gross revenue of £0.3m, down from £0.7m in 2019, and a statutory revenue of £0.2m. Net loss from continuing operations increased to £22.2m, influenced by non-cash impairment charges. The strategic review led to a shift in focus towards collaborations and a refined R&D pipeline, resulting in a halved cash burn rate. As of December 31, 2020, cash and deposits stood at £7.5m, a decline from £10.9m in 2019.

Midatech Pharma PLC (AIM:MTPH; NASDAQ:MTP) has announced the issuance of 61,363 American Depositary Shares (ADSs), equating to 306,815 new ordinary shares, following the exercise of warrants by US investors at $2.0625 each. The company raised gross proceeds of $126,561. Admission of the new shares to the AIM Market of the London Stock Exchange is expected on or around February 19, 2021. Following this issuance, the total number of ordinary shares will be 63,380,667. The new shares will rank equally with existing shares.

Midatech Pharma PLC (AIM: MTPH.L; Nasdaq: MTP) has announced several updates regarding its R&D pipeline and strategic direction. The Q-Sphera pipeline has expanded to five active projects, with two formulations optimized. The MTX110 program will move to the US for Phase I/II studies, targeting broader indications. However, the company was notified that it does not qualify for the GlioKIDS grant. Additionally, the partnership with Secura Bio over the MTX110 license faces hurdles, potentially delaying market launch. Despite operational facility closures, the company anticipates enough capital to sustain operations into Q4 2021.

Midatech Pharma PLC (AIM: MTPH.L; NASDAQ: MTP) announced the presentation of three MTX110 research findings at the International Symposium on Pediatric Neuro-Oncology from December 13-16, 2020. The presentations include:

• A Phase I study on the feasibility of CED of MTX110 for DIPG treatment.
• Safety data from high-dose MTX110 administration in non-human primates.
• A Phase I/II study on MTX110 delivery via CED in previously radiated DIPG patients.

These findings are expected to provide valuable data points for the ongoing development of MTX110 and its safety profile.

Midatech Pharma PLC has launched an updated corporate website, reflecting a strategic shift towards utilizing its drug delivery technologies to advance products to proof of concept before seeking licensing partners. CEO Stephen Stamp emphasized that the redesigned site enhances communication for stakeholders, including patients and investors. Midatech's proprietary technologies, including Q-Sphera™, MidaSolve™, and MidaCore™, support multiple drug development opportunities, backed by extensive patent protection. The website remains at www.midatechpharma.com.

Midatech Pharma PLC (AIM:MTPH.L)(NASDAQ:MTP) announced the presentation of research on MTX110 at the recent Society of Neuro-Oncology conference (SNO2020). The studies included a Phase I/II trial of MTX110 for DIPG and its efficacy in adult glioblastoma models. Steve Damment, EVP R&D, highlighted the promising results from the Phase I trial and preclinical data supporting MTX110's potential. MTX110, a water-soluble panobinostat, utilizes a specialized delivery method to enhance drug concentration at tumor sites while minimizing systemic effects. For more details, visit the company's website.

Midatech Pharma PLC announced encouraging results from the Phase I study of MTX110 for Diffuse Intrinsic Pontine Glioma (DIPG) at UCSF. The study determined a proposed dose of 60-90μM for a subsequent Phase II trial, which will focus on overall survival. With seven participants, the median overall survival was 26.06 months, and 71.4% survived at 12 months. MTX110's direct delivery to tumors via convection-enhanced delivery shows promise, although further studies are necessary. The Phase II trial aims to evaluate efficacy in more patients.

Midatech Pharma PLC (AIM:MTPH.L)(NASDAQ:MTP) reported its interim results for H1 2020, with total revenue declining to £0.17m, down from £0.45m in H1 2019. R&D costs rose by 15% to £3.99m, driven by redundancy expenses of £0.88m and asset write-downs of £0.55m. Administrative expenses increased to £2.93m, reflecting one-time costs related to Spanish Government loans. The company raised £4.26m through the sale of shares in May and £5.75m in July, totaling £10.01m in funding. The cash balance was £4.33m as of June 30, 2020.

Midatech Pharma PLC (AIM:MTPH.L)(NASDAQ:MTP) will host an investor webinar on 10 September 2020 at 2:00 PM London time, coinciding with the release of its interim results for the six months ended 30 June 2020. Investors can access the webinar online and submit questions beforehand via email. Midatech focuses on drug delivery technology, utilizing proprietary platforms like Q-Sphera™, MidaSolve™, and MidaCore™, which have entered clinical trials with promising applications for treating serious diseases.