TPI provides its latest research note on MGC Pharmaceuticals Limited (MXC.L).

In anticipation of a sharp ramp-up in operational activities during 2022, MGC has today announced its successful raising of £5.5m (gross) new funding through an equity placing priced at 2p/share that was subscribed by a mix of new and existing shareholders.

Added to the AUD$4.2m cash-at-bank held at the end of September 2021, along with access to an additional AUD$9.25m undrawn from its AUD$15m facility with Mercer Street Opportunity Fund LLC, the Group now appears to be well resourced to accelerate a number of key and timely projects.

These include its Phase III Clinical Trial for CimetrA™, in tandem with securing Good Manufacturing Process (‘GMP’) accreditation for its new Maltese facility with the aim of commencing the drug’s first scale production in mid-2022, given the potential for both Emergency Use Authorisation in India and fast-track approval in the US.

Being the most heavily mutated version of the spike protein, Omicron, the newly discovered variant of COVID-19 highlights not only the possible impact of further international waves of infection on already heavily burdened public health systems but also the urgent patient need for rapid introduction/high availability of new treatments, such as CimetrA™, that have tangibly demonstrated significant anti-inflammatory and immune-modulatory effects through Cytokine-level monitoring.

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We would draw your attention to the various disclaimers in the document both at the beginning and at the end of the note. Retail clients (as defined by the rules of the FCA) must not rely on the research document. In particular you should note that the research document is a non-independent marketing communication. The analyst who has prepared the research is aware that TPI provides research to MGC Pharmaceuticals Limited. Accordingly the research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibitions on dealing ahead of its dissemination.

The information in the document is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. The material contained in the document is general information intended for recipients who understand the risks associated with equity investment in smaller companies. It does not constitute a personal recommendation as defined by the FCA or take into account the particular investment objectives, financial situation or needs of individual investors nor provide any indication as to whether an investment, a course of action or the associated risks are suitable for the recipient.

Copyright © 2021 Turner Pope Investments (TPI) Limited, all rights reserved.

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