Midatech Pharma: Surges after cancer treatment succeeds study

Biodexa Pharmaceuticals

08/01/2020 13:07

** U.S.-listed shares of drug developer  MTP.O  jump 80.5%
to $1.23 premarket; set for their best day in almost 11 months
    ** Company says its experimental treatment for carcinoid
cancer and acromegaly met main goals in study  urn:newsml:reuters.com:*:nACST6trCa
    ** The treatment, MTD201, is currently in its late-stage
study http://www.midatechpharma.com/rd/pipeline.html
    ** Acromegaly is a rare disease caused when the pituitary
gland produces too much growth hormone, while carcinoid cancer
usually begins in the digestive tract 
    ** The study evaluated whether the treatment can deliver
concentrations of the drug octreotide, when injected under the
skin or deep into the muscle
    ** Both routes of administration produced similar results
    ** Company says next study for development of MTD201 is
expected to commence in H1 2020
    ** London-listed shares of the company  MTPH.L  were up 71%
    ** Midatech's Nasdaq-listed shares had fallen 60% in the
last 12 months

 (Reporting by Dania Nadeem in Bengaluru)
 ((Dania.Nadeem@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6749 0647;))