Shares of Midatech (NASDAQ:MTP) stock are taking off on Thursday after the company reported solid results from a specific portion of its technology.
The biotechnology firm announced that in-vitro data shows Q-Sphera’s potential to create long-acting injectable products out of proteins. According to the release, Q-Sphera technology “employs proprietary 3-D printing techniques to encapsulate drugs in polymer-based bioresorbable microspheres which may be injected to form depots in the body which release drug over predictable, sustained periods from one week to several months.”
That said, Midatech will look to further optimize the drug loading and dissolution profile for encapsulated monoclonal antibodies. And overall, the firm believes these results could create more opportunities for its Q-Sphera technology.
Here are some more comments from Midatech about the MTP stock news:
“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. … [We] will seek to replicate the data seen in this exemplar mAb and is evaluating multiple high value mAb therapeutics for addition to its internal pipeline.”
MTP stock was up more than 40% as of Thursday morning.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Nick Clarkson is a web editor at InvestorPlace.