London-listedskyrocketed 70% on Wednesday afternoon after hailing positive results from its MTD201-102 study.
Study 102 investigated a subcutaneous route, meaning administration through the skin, as an additional alternative to muscular administration of MTD201, a treatment for carcinoid cancer and acromegaly disorder.
The results confirmed that a subcutaneous administration of MTD201 was within the range needed for therapeutic efficacy, and the company has now determined it as the preferred route to take forward into a registration study in mid 2020.
The route is preferred as it is considered a simpler, less painful route which allows self-administration at home to significantly cut down hospital visits, the statement detailed.
Shares in Midatech Pharma were trading 70.91% higher at 4.7p on Wednesday afternoon.
In particular, an extended dose interval would reduce annual treatment from 12 to just 6 injections per year lowering the overall cost for patients.
“These are key advantages for patients, physicians and payors, being the first therapy to offer this,” said Craig Cook, Midatech’s CEO who believes this grants the group a “competitive advantage” as they look towards potential product approval.
The company also said the 63-day assessment period revealed only ‘minor and transient injection site reactions’ with no differences between the injection routes across the 28 healthy patients.
The next study which will focus on clinically developing MTD201 is due to start in H1 of this year, the company stated, with preparation now underway.
A following registration programme, labelled as ‘pivotal’, will support a second indication in neuroendocrine tumours (NET) and is also expected to commence in 2020.
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