MidaTech Pharma (MTP) Stock Rockets On Positive Data

MidaTech Pharma MTP Stock News

MidaTech Pharma PLC-ADR (NASDAQ: MTP) is making a run for the top in the market this morning after the company announced positive clinical data. The data came from the company’s diabetes vaccine candidate, known as MTX102. As a result of the news, MTP is trading on gains of more than 86% with heavy volume. Here’s what’s happening:

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MTP Rockets On Positive Results

Early this morning, Midatech Pharma announced the positive results from a study of its diabetes vaccine product known as MTX102. During the clinical study, the company worked to assess the safety of MTX102 across five recently-diagnosed type-1 diabetes patients.

In the release, MTP said that all patients met strict genetic parameters and all subjects are receiving the study drug. So far, the data suggest that MTX102 is generally well tolerated. In fact, the only drug-related adverse reaction had to do with asymptomatic local injection site reactions. No serious adverse events were reported.

This was a key study as it assessed the systemic injectable administration of the company’s gold nanoparticle technology, known as MidaCore, a key component in the MTX102 treatment candidate. As such, the study resulted in validation for the safety of the company’s MidaCore technology as a platform for various medications in the future.

In a statement, Craig Cook, CEO at MTP, had the following to offer:

This is the first human study to assess the safety of MidaCore when injected into patients, and we are pleased that the data generated to date validates the technology as a potentially innovative treatment platform for medical applications.

This Is Big News!

A positive conclusion here would be two-fold great news. First and foremost, it would validate the work that MTP is doing with MTX1002.

Furthermore, it would validate the underlying technology MidaCore, which is being developed both as an immunotherapeutic platform and a chemotherapeutic platform.

Moreover, the market opportunity, should all go well is tremendous. In fact, according to Hexa Research, the Type 1 diabetes market is epected to grow to be worth more than $25 billion annually by the year 2024.

Considering the market cap of at MidaTech Pharma at sub $50 million, an entrance into this market could lead to a meaningful increase in value. In fact, even tapping into a small percentage of this market would be substantial!

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