11th May 2016 08:49
LONDON (Alliance News) - Midatech Pharma PLC on Wednesday said the group is trading slightly ahead of market expectations after generating strong revenue from marketed products in the first four months of 2016.
In an update ahead of its annual meeting of shareholders on Wednesday, the pharmaceutical company said it is pleased with the progress made in all aspects of the business in the first four months of the year.
The key product candidates in its clinical pipeline have each seen favourable results that support further development, Midatech said, while the recently acquired US commercial arm has been integrated into the business.
"In the first four months of 2016 we have seen strong revenues from our marketed products and as a result the group is trading slightly ahead of consensus market expectations," Chairman Rolf Stahel said in a statement.
"The highly driven management team and the board of directors looks forward to building upon this success throughout the course of 2016," he added.
Shares in Midatech were trading up 3.3% at 176.70 pence on Wednesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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