TPI provides its latest research note on Midatech Pharma plc (MTPH.L)

Midatech has announced unaudited interim results for the six months ended 30 June 2020. These cover a period of significant transition for the Group, subsequent to which it has raised substantial new equity funding, signed a further major research collaboration for its Q-SpheraTM platform and announced the Termination of its Formal Sale Process.

Together these appear to provide endorsement and early validation of the revised corporate policies adopted by its restructured Board following its Strategic Review.

These are focused on the exploitation of Midatech’s proprietary technology platforms, while limiting future clinical drug development to partnered or grant-funded clinical trails only, with the ambition of lowering operational costs based on collaboration and early partnering which, if successful, will result in licensing and technology transfer agreement fees including milestone payments and royalties.

Based on the extended runway recently secured, Midatech now has cash resources sufficient to support current operations through to Q4 2021, by which time tangible progress with respect to its platform collaborations with Big Pharma and the commencement of MTX110’s Phase II orphan development should be evident.

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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 Midatech Pharma plc. 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 © 2019 Turner Pope Investments (TPI) Limited, all rights reserved.


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