With pivotal trials for lead programmes MTD201 and MTX110 expected to start this year, Midatech is positioned for transformation in 2020e. We have reduced expected 2017-19e revenue, but US operations remain on track to achieve profitability from 2018. Our forecasts also reflect increased R&D spend following the recent up to £8m capital raise. We reiterate our long-term Buy with a target price of 96p (from 140p).
13 Oct 2017
N+1 Singer - Midatech Pharma - Exciting pivotal trials ahead; remains long-term Buy
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N+1 Singer - Midatech Pharma - Exciting pivotal trials ahead; remains long-term Buy
- Published:
13 Oct 2017 -
Author:
Dr Jens Lindqvist -
Pages:
5
With pivotal trials for lead programmes MTD201 and MTX110 expected to start this year, Midatech is positioned for transformation in 2020e. We have reduced expected 2017-19e revenue, but US operations remain on track to achieve profitability from 2018. Our forecasts also reflect increased R&D spend following the recent up to £8m capital raise. We reiterate our long-term Buy with a target price of 96p (from 140p).