Midatech Pharma PLC Announces Results for the year ended 31 December 2019
Preliminary results for the year ended 31 December 2019
ABINGDON, OXFORDSHIRE / ACCESSWIRE / June 16, 2020 / Midatech Pharma PLC (AIM: MTPH.L; Nasdaq: MTP), a drug delivery technology company focused on improving the bio-delivery and bio-distribution of medicines announces its audited preliminary results for the year ended 31 December 2019.
Financial highlights
- Total gross revenue(1) for the year of £0.7m (2018: £1.9m, 2017: £1.0m).
- Statutory revenue(2) for 2019 of £0.3m (2018: £0.1m, 2017: £0.1m).
- Subscription, Placing and Open Offer in February 2019 raised £12.3m (net) and Registered Direct Offering in the US in October 2019 raised $2.5m (£1.8m) (net).
- Receipt of €3.6m (£3.1m) (net) non-dilutive Reindus loan and award of Guazatu loan of €1.5m.
- Provisional award of a GlioKIDS grant of €2.7m (£2.3m), subject to confirmation of Midatech’s status as an SME, to support a Phase II trial of MTX110.
- Cash and deposits at 31 December 2019 of £10.9m (2018: £2.3m, 2017: £13.2m).
- Net loss from continuing operations of £9.1m (2018: £10.4m loss, 2017: £11.7m loss) with net cash inflow in the year of £8.4m (2018: £10.9m outflow, 2017: £4.1m outflow).
- Tax credit receivable of £1.8m (2018: £1.9m, 2017: £1.2m).
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1) |
Total gross revenue represents collaboration income from continuing operations plus grant revenue. |
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2) |
Statutory Revenue represents total gross revenue, excluding grant revenue. |
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SOURCE: Midatech Pharma PLC
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