Midatech Pharma (AIM: MTPH)

Currency in GBP

Last close As at 03/02/2023

GBP0.02

0.20 (10.26%)

Market capitalisation

GBP2m

Midatech is a drug-delivery specialist focused on re-engineering therapeutics through its technology platforms (MidaSolve, local drug-delivery; Q-Sphera, sustained-release; MidaCore, targeted delivery) to improve biodistribution and delivery.

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.

Midatech Pharma_resized

Sector

Healthcare

Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Key Management

  • Dr Stephen Parker

    Chairman

  • Stephen Stamp

    CEO and CFO

Balance Sheet

Forecast net debt (£m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (6.5) (69.3) (85.9)
Relative (10.4) (71.6) (86.0)
52 week high/low 15.4p/1.9p

Financials

Midatech has announced that its shareholders have not approved the acquisition of Bioasis Technologies at the company’s annual general meeting (AGM), thereby ceasing all proposed transactions/events (including the US$9.6m private placement) contingent on the deal. This comes as a major setback for Midatech as it was counting on the deal to diversify operations and extend its cash runway into Q423. The shareholders’ decision puts Midatech in a tough situation as the company only has cash to last until mid-March 2023 and will urgently need to secure alternative sources of financing. Midatech has appointed Quantuma Advisory, a specialist business advisory firm, to undertake contingency planning. The shares were trading down over 25% by close of play yesterday.

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
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

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