Midatech Pharma (MTP) Stock: Gaining On 2018 Results

Midatech Pharma PLC-ADR (NASDAQ: MTP) is flying early on in the trading session this morning. While if you’re looking for press releases, you’d be hard pressed to find anything new, there is a good reason for the gains.

The company issued its financial results for the 2018 year via SEC filing early this morning. Today, we’ll talk about:

  • The results;
  • what we’re seeing from MTP stock; and
  • what we’ll be watching for ahead.

MTP Stock Gains On Annual Results

As mentioned above, Midatech Pharma is having a great day in the market today after issuing its annual results this morning. Here’s what we saw from the report:

  • Revenue – Gross revenue from operations was up 96%, coming in at £1.94m.
  • Cash And Equivalents – In terms of cash, the company had £2.34m on hand as of December 31, 2018.
  • Net Losses – MTP saw strong decline in net losses, falling to £10.88m.

In terms of operational highlights, heres what we saw:

  • The company conducted the first in human clinical trial  for MTD201 with a data read-out in August. Data suggested that MTD201 compares favorably with the leading product on the market.
  • MTX110 saw its first trial start in May of 2018.
  • On November 1, 2018, the company sold its US commercial operation, Midatech Pharma US, to Barings LLC.

In a statement, Dr. Craig Cook, CEO at MTP, had the following to offer:

2018 was a year of strategic refocusing of the business, with Midatech becoming a pure-play R&D company following the divestment of our US commercial operation in November, a major milestone for the Group.

We believe the Company has entered a new chapter in its growth as a streamlined R&D focused business with in-house manufacturing. We are now delivering on clinical milestones, with strong clinical data, and a compelling pipeline for our proprietary drug delivery platforms, all of which are now into the clinic.

We look forward to an exciting period ahead, creating value for all stakeholders.

What We’re Seeing From The Stock 

One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Midatech Pharma, the news proved to be overwhelmingly positive.

After all, the financial data showed a strong growth in revenue with decreasing net losses. Moreover, operational highlights were positive. So, it’s not surprising to see that excited investors are pushing the stock on a run for the top in the market this morning.

As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:04), MTP is trading at $2.83 per share after a gain of $2.83 per share after a gain of $0.58 per share or 25.78% thus far today.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will continue to keep a close eye on MTP. In particular, we’re interested in following the copany’s ongoing work to develop its impressive pipeline while improving the financial picture and providing value to investors. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!

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