Why Is Midatech Pharma (BDRX) Stock Up 64% Today?


  • Midatech Pharma (BDRX) stock is rising on a new research program.
  • The company wants to develop treatments for metastatic cancers.
  • Its first focus will be treating leptomeningeal disease.
BDRX Stock - Why Is Midatech Pharma (BDRX) Stock Up 64% Today?

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Midatech Pharma (NASDAQ:BDRX) stock is rocketing higher on Tuesday after the pharmaceutical company announced a new research program.

According to a filing with the U.S. Securities and Exchange Commission (SEC), this new program is running under the code MTD217. Its focus is on developing “new therapeutic options for metastatic cancers with high unmet needs.”

Biodexa Pharmaceuticals notes that its first line of research will concern leptomeningeal disease. This is a complication that sees metastatic cancer cells invade the cerebrospinal fluid and central nervous system.

Midatech Pharma Plans for Trials

Midatech notes that it’s already working with several large academic centers. The goal is to advance preclinical studies to obtain proof of concept for leptomeningeal disease treatment. Doing so would pave the way for a clinical trial.

Dr. Dmitry Zamoryakhin, Chief Science Officer of Midatech, said the following about the news:

“We are very excited about accelerating this promising programme towards first-in-human studies. It capitalises on Midatech’s knowledge in direct intratumoral delivery of drugs, currently being explored in our clinical programme of MTX110 in recurrent glioblastoma. Furthermore, blockage of the OXPHOS pathway by MTD217 opens opportunities to demonstrate potential synergistic ef ects with checkpoint inhibitors in solid tumours as well as exploration of co-treatment with MTX110 in patients with aggressive brain tumours.”

BDRX stock is up 63.7% as of Tuesday morning.

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On the date of publication, William White did not hold (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.

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