Stock Alert: Midatech Pharma Jumps 165%

(RTTNews) - Shares of the nano-cap company Midatech Pharma plc (MTP) surged 165% on Tuesday morning trading. The company said it entered into a research collaboration for the Q-Sphera platform with a European affiliate of a global pharmaceutical company.

MTP is currently trading at $4.50, up $2.80 or 164.71%, on the Nasdaq. Within the multi-project collaboration, Midatech will deploy its in-house expertise and proprietary drug delivery platforms towards assets nominated by the pharmaceutical company.

Midatech Pharma focuses on the research and development of oncology and rare disease products in the United Kingdom, rest of Europe, and internationally. The company is developing MTD201, a long acting dose of Octreotide for the treatment of acromegaly and neuroendocrine tumors; and MTX110, a direct delivery treatment for diffuse intrinsic pontine glioma.