Midatech Pharma PLC (MTP)

[tykundegex]

NEWS -> The Board expects revenues of £3.80 million, up from £0.32 million for the six months to June 2015 (an increase of more than 10 times), in line with revised market expectations for the first half of 2016. Midatech updated its guidance for full year revenue in its 2015 full year results statement following the first three months of 2016, in which it stated that the Company was trading slightly ahead of market expectations.

Whilst it is too early to assess the long-term impact of the UK's decision to leave the European Union, there has been no immediate impact on the Company's day-to-day operations.

Commenting on trading update, Dr Jim Phillips, CEO of Midatech, said: "I am pleased to report that this has been a half of significant commercial progress for the Company with a greater than 10-fold increase in revenue. We have also had numerous positive advances at Midatech including launching Zuplenz® in the US to provide relief from one of the most debilitating side-effects of common cancer treatments, and elsewhere across our oncology product base and exciting pipeline.

"Since revising revenue guidance up earlier in the year we are pleased to expect revenues to be in line with current market expectations and look forward to continued progress in the second half of the year."

Midatech will announce its interim results on 2 September 2016. Dr Jim Phillips, Chief Executive Officer and Nick Robbins-Cherry, Chief Financial Officer, will host a presentation for analysts and conference call at 14:00 BST. Details of the call will be published on the day of the results. The call will be recorded and a replay will be available for 30 days.

ref:
http://otp.investis.com/clients/uk/midatech/rns/regulatory-story.aspx?cid=976&newsid=772249