Midatech Pharma Rallies On Positive MTX102 Results

Midatech Pharma PLC-ADR (NASDAQ: MTP) shares were trading higher Friday after the company announced positive results from a first-in-human study of its MTX102 immuno-tolerizing vaccine product candidate in diabetes.

The results showed that MTX102 was well-tolerated, with asymptomatic local injection site reactions being the only drug-related finding, and no serious adverse events were reported, according to Midatech. 

“This EU-funded program is an invaluable project to further develop, understand and evaluate Midatech’s gold nanoparticle technology, MidaCore,” CEO Craig Cook said in a statement.

"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." 

Midatech shares were trading higher by 45.38% at $1.89 at the time of publication Friday. The stock has a 52-week high of $10.90 and a 52-week low of $1.03.

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