Full Press Release Details
Pharma (AIM: MTPH, Nasdaq: MTP), the international specialty pharmaceutical company focused on developing and commercialising
products in oncology and immunotherapy, today announces a trading update for the six months ended 30 June 2018.
Company remains on track to deliver financial results in line with market expectations for FY18. For the six months to June 2018,
the Board expects total gross product revenues of approximately 5.8 million, a 16% increase from the 5.0 million
recorded in the six months to June 2017. Sales for the second half of 2017 represented 56% of full year gross product sales, and
the Board anticipates a similar split in 2018, subject to continued sales growth at historic rates.
previously announced, the Board continues to review a range of options to meet its cash flow needs, including non-dilutive financing
and other strategic alternatives.
Company also notes that the clinical trials for two of its key oncology drug candidates, the sustained release product Q-Octreotide
MTD201 for the treatment of acromegaly and carcinoid cancer and MTX110 for the treatment of Diffuse Intrinsic Pontine Glioma or
"DIPG", continue to progress well, along with the clinical trial preparation work currently underway for MTD119, the
Company's advanced liver cancer drug candidate which received Orphan Drug Designation earlier this year. The Company remains
on track to announce the results of the initial phase of its ongoing first in-human study of Q-Octreotide MTD201 in late Q3 or
on trading update, Dr Craig Cook, CEO of Midatech, said: "I am pleased to report a strong trading update for the first
half of the year, with continued sales growth in our US business and significant progress made in our key clinical programmes,
MTD201 and MTX110. There is renewed momentum throughout the Group as we progress towards the key value inflection points for our
clinical pipeline over the next eighteen months, and we remain focused on bringing our innovative and potentially life-changing
therapies to market in areas of significant unmet need."
Company will announce its interim results in September 2018.
announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).
more information, please contact:
Gordon (UK) Limited (Nominated Adviser and Broker)
Crossley / Emma Earl / Ryan McCarthy
Strategic Communications (Financial PR)
Jane Elliott / Nicholas Brown / Angela Gray
Partners (US Investor Relations)
is an international specialty pharmaceutical company focused on the research and development of a pipeline of medicines for oncology
and immunotherapy. Midatech's strategy is to internally develop oncology products, and to drive growth both organically and through
strategic acquisitions. The Company's R&D activities are focused on three innovative platform technologies to deliver drugs
at the "right time, right place": gold nanoparticles ("GNPs") to enable targeted delivery; Q-Sphera polymer
microspheres to enable sustained release ("SR") delivery; and Nano Inclusion ("NI") to provide local delivery
of therapeutics, initially to the brain. Midatech Pharma US is the Group's US commercial operation, with four cancer supportive
care products. The Group, listed on AIM: MTPH and Nasdaq: MTP, employs c.100 staff in four countries. For further company information
statements in this press release may constitute "forward-looking statements" within the meaning of legislation in the
United Kingdom and/or United States. Such forward-looking statements include, but are not limited to, statements regarding our
estimates regarding future revenues, capital requirements and needs for additional financing, our ability to successfully test,
manufacture, produce or commercialize products for conditions using the nanoparticle, sustained release drug delivery or Nano
Inclusion platforms, the ability for products in development to achieve positive clinical results, and the ability to meet or
achieve timelines associated with pre-clinical studies, clinical trials or regulatory submissions. Any forward-looking statements
are based on currently available competitive, financial and economic data together with management's views and assumptions regarding
future events and business performance as of the time the statements are made and are subject to risks and uncertainties. We wish
to caution you that there are some known and unknown factors that could cause actual results to differ materially from any future
results, performance or achievements expressed or implied by such forward-looking statements.
should be made to those documents that we shall file from time to time or announcements that may be made by us in accordance with
the London Stock Exchange AIM Rules for Companies ("AIM Rules"), the Disclosure and Transparency Rules ("DTRs")
and the rules and regulations promulgated by the US Securities and Exchange Commission, which contains and identifies other important
factors that could cause actual results to differ materially from those contained in any projections or forward-looking statements.
These forward-looking statements speak only as of the date of this announcement. All subsequent written and oral forward-looking
statements by or concerning us are expressly qualified in their entirety by the cautionary statements above. Except as may be
required under the AIM Rules or the DTRs or by relevant law in the United Kingdom or the United States, we do not undertake any
obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise