(NASDAQ:MTP) Shares are hitting new highs this morning on FDA fast track The stock has traded more than 6,000 trades and is up around 45% at $.89

(NASDAQ:MTP) Shares are hitting new highs this morning on FDA fast track The stock has traded more than 6,000 trades and is up around 45% at $.89

Midatech Pharma PLC Announces Fast Track Designation for MTX110 Development

Fast Track Designation Granted to MTX110 Development for the Treatment of Recurrent Glioblastoma

ABINGDON, OXFORDSHIRE / ACCESSWIRE / June 1, 2022 / Midatech Pharma PLC (AIM:MTPH.L); (NASDAQ:MTP), an R&D biotechnology company focused on improving the bio-delivery and biodistribution of medicines, is pleased to announce that upon submitting an application to the U.S. Food and Drug Administration (“FDA”), its development programme of MTX110 for the treatment of recurrent glioblastoma (“rGBM”) has been granted Fast Track designation by the agency.
Fast Track is a process designed to facilitate the development and expedite the review of treatments for serious conditions and that potentially address unmet medical needs. Drugs that are granted this designation are given the opportunity for more frequent interactions with the FDA, as well as potential pathways for expedited approval.

Commenting, Dmitry Zamoryakhin, CSO of Midatech, said: “rGBM is a devastating cancer marked by short survival rate and universal recurrence. 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. MTX110, our water-soluble formulation of Panobinostat, will soon start recruitment into a Company-sponsored Phase I study in patients with recurrent GBM.”

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014, as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amend

https://finance.yahoo.com/news/midatech-pharma-plc-announces-fast-115500219.html

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