Midatech Pharma: Slips as co raises going concern doubts

Biodexa Pharmaceuticals

25/01/2019 14:10

** U.S. listed shares of drug developer  MTP.O  slip 34 pct
to 11 cents premarket, London-listed shares  MTPH.L  plunge 45
pct 
    ** MTP top pct loser across U.S. exchanges
    ** Co says it has "very limited cash" to enable it to
continue as a going concern; also says it will look to conclude
discussions with a potential strategic investor (https://bit.ly/2MycQ6G)
    ** MTP also announces receipt of feedback from U.S. FDA for
the clinical study of its lead drug MTD201
    ** MTD201 is a potential treatment treatment for acromegaly
and neuroendocrine tumours such as carcinoid cancer
    ** Co says to test drug in a multi-dose study in healthy
volunteers and in patients based on FDA feedback
    ** MTP, which had fallen 82 pct in 2018, up 5.8 pct so far
this year


($1 = 0.8810 euros)

 (Reporting by Saumya Sibi Joseph in Bengaluru)
 ((Reuters Messaging:
saumya.joseph.thomsonreuters.com@reuters.net))