Midatech is a drug-delivery specialist focused on re-engineering therapeutics through its technology platforms (MidaSolve, local drug-delivery; QSphera, sustained-release; MidaCore, targeted delivery) to improve their bioavailability and delivery.
More Midatech Pharma content >Investment summary
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.
Y/E Dec |
Revenue (£m) |
EBITDA (£m) |
PBT (£m) |
EPS (p) |
P/E (x) |
P/CF (x) |
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2020A | 0.3 | (9.5) | (11.1) | (22.92) | N/A | N/A |
2021A | 0.6 | (6.6) | (6.1) | (6.78) | N/A | N/A |
2022E | N/A | N/A | N/A | N/A | N/A | N/A |
2023E | N/A | N/A | N/A | N/A | N/A | N/A |
Industry outlook
The proprietary platforms develop products that address debilitating conditions with significant clinical needs. Applications are expected to be out-licensed for development following proof of concept.
Last updated on 19/05/2022Content on Midatech Pharma








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Stephen Stamp | CEO and CFO |