Stock Alert: Midatech Pharma Jumps 40%

(RTTNews) - Shares of Midatech Pharma plc (MTP) are currently gaining over 40% on Thursday morning after the company announced a breakthrough in vitro data utilizing Q-Sphera technology and progress across multiple other programs.

MTP is currently trading at $2.92, up $0.88 or 43.14%, on the Nasdaq. The stock has traded between $1.25 and $7.07 in the 52-week period.

Midatech Pharma announces breakthrough in vitro data which demonstrate Q-Sphera's potential to formulate proteins into long-acting injectable products.

Q-Sphera is a technology that employs proprietary 3D printing techniques to encapsulate drugs in microspheres which may be injected to form depots in the body that release the drug over predictable, sustained periods from one week to several months.

"A significant number of latest generation medicines are protein based and reformulation as long-acting injectables could provide significant benefits to patients, physicians and payors," the company said in a statement.