Following Midatech’s recent pipeline update, we detail the Q-Octreotide (MTD201) programme ahead of a planned IND filing later this year. The programme is attracting significant industry interest, and we believe it represents a strong licensing opportunity post bioequivalence trials in 2017. We also note good progress by US spec pharma operations and upcoming first results from the compassionate use programme in paediatric brain cancer. Our valuation implies an unchanged TP of 283p. Buy.
