Midatech Pharma PLC: Trading Update
January 20 2017 - 8:03AM
Midatech Pharma PLC("Midatech", "Company" or
"Group")
Trading Update
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 technologies continues 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).
For more information, please contact:Midatech Pharma PLC Jim
Phillips, CEO Tel: +44 (0)1235 841575 www.midatechpharma.com
Panmure Gordon (UK) Limited (Nominated Adviser and Broker)
Corporate Finance Freddy Crossley / Duncan Monteith Broking Tom
Salvesen Tel: +44 (0)20 7886 2500
Consilium Strategic Communications (Financial PR) Mary Jane
Elliott / Ivar Milligan Tel: +44 (0)20 3709 5700
Email: midatech@consilium-comms.com
Westwicke Partners (US Investor Relations) Chris Brinzey Tel: +1
339 970 2843 Email: chris.brinzey@westwicke.com
Notes for Editors
About Midatech Pharma PLCMidatech is an international specialty
pharmaceutical company focused on oncology and other therapeutic
areas with a US commercial operation marketing four cancer care
supportive products, and co-promoting two others. Midatech's
strategy is to internally develop oncology products and collaborate
with partners in other therapy areas, and to drive growth both
organically and through strategic acquisitions. The Company's
R&D activities are supported by two breakthrough drug delivery
technologies: Q-Sphera for sustained release and our proprietary
gold nanoparticles. The Group, listed on AIM: MTPH and Nasdaq: MTP,
employs c.110 staff in four countries. For further company
information see: www.midatechpharma.com
Neither this press release, nor any copy of it may be made or
transmitted into the United States of America (including its
territories or possessions, any state of the United States of
America and the District of Columbia) (the "United
States"). The distribution of this press release in other
jurisdictions may also be restricted by law and persons into whose
possession this announcement comes should inform themselves about,
and observe, any such restrictions. Any failure to comply with
these restrictions may constitute a violation of the securities
laws of any such jurisdiction.
This press release does not constitute or form part of any offer
or invitation to sell or issue, or a solicitation of any offer to
acquire, purchase or subscribe for, securities of the Company.
Neither the Placing Shares nor the Open Offer Shares have been,
nor will be, registered under the US Securities Act of 1933, as
amended (the "US Securities Act") or the securities laws of any
state or jurisdiction of the United States, and may not be offered
or sold within the United States to, or for the account or benefit
of, US person (as that term is defined in Regulation S under the US
Securities Act), except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the US
Securities Act and such other applicable state securities laws.
Accordingly, the Placing Shares and the Open Offer Shares are
being offered hereby only (i) outside the United States in reliance
upon Regulation S under the US Securities Act in offshore
transactions or (ii) to "accredited investors" as defined in Rule
501(a) of Regulation D of the US Securities Act, in reliance on an
exemption from, or a transaction not subject to, the registration
requirements of the US Securities Act.
Forward-Looking Statements Certain statements in this press
release may constitute "forward-looking statements" within the
meaning of legislation in the United Kingdom and/or United States,
including (without limitation) those regarding the Placing, the
Open Offer and any other potential offering of securities, the
Group's financial position, business strategy, products, plans and
objectives of management for future operations, and any statement
preceded or followed by, or including, words such as "target",
"believe", "expect", "aim", "intend", "will", "may", "anticipate",
"would" or "could", or negatives of such words. Any forward-looking
statements are based on currently available competitive, financial
and economic data together with management's views and assumptions
regarding future events and business performance as of the time the
statements are made and are subject to risks and uncertainties. We
wish to caution you that there are some known and unknown factors
that could cause actual results to differ materially from any
future results, performance or achievements expressed or implied by
such forward-looking statements.
Reference should be made to those documents that Midatech shall
file from time to time or announcements that may be made by
Midatech in accordance with the London Stock Exchange AIM Rules for
Companies ("AIM Rules"), the Disclosure and Transparency Rules
("DTRs") and the rules and regulations promulgated by the US
Securities and Exchange Commission, which contains and identifies
other important factors that could cause actual results to differ
materially from those contained in any projections or
forward-looking statements. These forward-looking statements speak
only as of the date of this announcement. All subsequent written
and oral forward-looking statements by or concerning Midatech are
expressly qualified in their entirety by the cautionary statements
above. Except as may be required under the AIM Rules or the DTRs or
by relevant law in the United Kingdom or the United States,
Midatech does not undertake any obligation to publicly update or
revise any forward-looking statements because of new information,
future events or otherwise arising.
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