Edison Investment Research - Midatech Pharma (MTPH) Midatech Pharma - Pipeline delivery key to future outlook

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Edison Investment Research

Sean Conroy

Midatech Pharma - Pipeline delivery key to future outlook

Midatech’s FY21 results continued to reflect financial prudence (following the March 2020 business realignment), with normalised operating loss improving to £7m (£10.7m in FY20) despite a much broader R&D pipeline. Clinical asset MTX110 (MidaSolve platform), already in Phase I for orphan DIPG and medulloblastoma brain cancers, is expected to commence a Phase I study in mid-2022 for recurrent glioblastoma, an opportunity more than 30 times the size of the other two combined. We believe visibility from the Q-Sphera pipeline will improve investor confidence. With the current cash balance (£10.1m at the end of FY21) only sufficient to fund operations to early 2023, we anticipate that potential partnerships and/or licensing deals will de-risk the near-term outlook.

25/05/2022 1 EN

Underlying

Midatech Pharma

Midatech Pharma is a holding company. Through its subsidiaries, Co. is engaged as a specialty pharmaceutical company focused on the development and commercialization of multiple therapeutic products, using its nanomedicine and sustained release technologies, to enhance the delivery of medicines in major diseases with high unmet medical needs. These diseases include diabetes, certain cancers such as liver, ovarian and brain (glioblastoma) and neurological/ophthalmologic conditions. Co.'s two platform technologies are designed to enable targeted delivery and sustained release of existing therapeutic drugs to the "right place" at the "right time."

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GB00BKT14T00 London Stock Exchange United Kingdom

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Sean Conroy

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Midatech Pharma - Pipeline delivery key to future outlook

Biodexa Pharmaceuticals - Pivoting out of a challenging FY22

Midatech Pharma - Development pipeline expands with MTD217

Hybridan Small Cap Feast 08/03/22

Manx Financial Group - Termination of coverage

musicMagpie - Termination of coverage

Topps Tiles - Accelerating growth through Q125

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