Shares of Midatech Pharma Plc [NASDAQ: MTP] surged +62.25% during the pre-market trading session of Thursday. The strong performance of the firm indicated the positive sentiments of the investors after the firm disclosed innovation in vitro data which highlights Q-Sphera’s potential to devise proteins into long-acting injectable products, as well as substantial progress across multiple other programs.
It has been disclosed that the Q-Sphera technology of the firm employs patented 3-D printing techniques to capture drugs in polymer-based bioresorbable microspheres which may be inoculated to form depots in the body that release drug over predictable, constant periods from one week to several months.
Shares of Midatech Pharma surged 62.25% as the firm has gained +1.2700 at $3.3300 at the time of writing on Thursday. The firm has recorded a trading volume of 12.75 million during the pre-market session of Thursday. In the past 52-weeks of the trading session, the share of the firm surged 63.20% and plunged -71.15% from its 52-week low and high, respectively. Midatech has a total market capitalization of $25.86 million at the time of writing.
Furthermore, in the period of 13 months since the declaration of a Strategic Review, the firm has closed its Bilbao operations, thus splitting its monthly cash burn rate, and turned from a largely singular focus on one Phase III ready asset to ‘multiple shots on goal’ with a prolonged pipeline of nine earlier stage programs.