Midatech Pharma (AIM: MTPH, Nasdaq: MTP), the international specialty pharmaceutical company focused on developing and commercialising products in oncology, today provides a trading update ahead of its full year results for the twelve months ended 31 December 2016.
With a diversified strategy, multiple sources of revenue and an innovative R&D pipeline, Midatech continues to make good progress across the Group. Reported total revenues for the twelve months ended 31 December 2016 are expected to be approximately £9.0m (2015: £1.4m).
Dr. Jim Phillips, CEO of Midatech Pharma, said: “We are pleased with the Group’s progress in 2016. Our established US commercial presence has the potential to deliver double-digit top-line growth in 2017 and our fully integrated R&D pipeline with two platform technologiescontinues to progress well. Funds raised in November provide capital to take the Company towards profitability and we continue to invest in the pipeline, manufacturing and commercial platforms. We look forward to another successful year of growth in 2017.”
The Group expects to publish its preliminary results for the year to 31 December 2016 in April 2017 and will hold an analyst presentation at that time.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).