Midatech Pharma Shares Rise on FDA Fast Track Designation for Cancer Treatment
June 01 2022 - 8:11AM
Dow Jones News
By Joe Hoppe
Midatech Pharma PLC shares rose Wednesday after it said that its
MTX110 treatment for recurrent glioblastoma, a form of cancer, has
been given Fast Track designation by the Food and Drug
Administration.
Shares at 1131 GMT were up 2.75 pence, or 27%, at 13.0
pence.
The drug-delivery technology company, which is listed in the
U.K. and the U.S., said the fast track process is designed to
facilitate the development and speed up the review of treatments
for serious conditions and that potentially address unmet
needs.
Patients with recurrent glioblastoma will soon start to be
recruited into a Phase 1 trial for MTX110, Midatech said.
"Receiving Fast Track designation for MTX110 is an important
milestone for the development of the drug as it demonstrates the
need for novel and effective treatment options for this currently
universally fatal disease," Chief Scientific Officer Dmitry
Zamoryakhin said.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
June 01, 2022 07:56 ET (11:56 GMT)
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