The biotech company, which uses 3D printing to put drugs into injectable microspheres, said the data demonstrated its potential and can open significant opportunities for the technology.
“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,” it said.
A strategic review has seen it shift from focusing on just one potential product to expanding its pipeline, which now has nine earlier stage programmes.
It was not all good news. Secura Bio, the owner of patents previously licensed to the company, is claiming breach of the terms even though the licence has now been terminated.
Midatech says the claims and demands are without any merit and investors seemed to agree, sending its shares up 37% to 37p during the week.
Conversely, Best of the Best PLC (LON:BOTB), which runs online competitions to win cars and other luxury prizes, tumbled 27% to 1,995p as the easing of restrictions hit trading.
The company is online-only, which means that it’s now struggling to keep customers glued to the screen amid the reopening of hospitality and non-essential retail.
Looking at the wider market, the AIM All-Share Index was down 0.6% to 1,241, underperforming the FTSE 100 which was flat at 7,137.
Next week, AIM sees three new arrivals all due to start trading on Monday.
Predictive analytics group Spectral MD Holdings develops AI algorithms to help clinicians make more accurate and faster decisions in the wound care sector; Thor Explorations, already listed in Canada, is a gold exploration and development company focused in West Africa and despite the vintage-sounding name, Victorian Plumbing is an online-only retailer of bathroom products and accessories.
Other risers over the past five days included Tavistock Investments PLC (LON:TAVI), which soared 61% to 4p after entering a ten-year strategic partnership with Titan Wealth, which will acquire Tavistock’s asset management segment for GBP40mln. Tavistock will act as Titan’s retail distribution partner.
Westminster Group PLC (LON:WSG) shot up 37% to 5p after securing two separate long-term contracts to provide port screening services in West Africa and to provide security services to five airports in the Democratic Republic of the Congo. The group also raised GBP2.5mln through an oversubscribed placing at a small premium.
Zephyr Energy Plc (LON:ZPHR) leapt 34% to 5p after receiving two monthly revenue payments for oil wells it acquired in March. They are located in North Dakota and set soon to go into production.
CML Microsystems Plc (LON:CML) jumped 17% to 430p after reporting strong results in what it says was a “transformational” year. The semiconductors maker also recommended a final special dividend of 50p a share.
On the downside, Pelatro reversed 23% to 40p after placing shares at 40p a pop, representing a 24% discount to the previous closing price. The software developer will use proceeds of GBP2mln to invest in mobile advertising opportunity and repay debt.
Aviation services group Esken slipped 18% to 25p after Stobart Air went into liquidation as plans to sell the airline fell through. Potential buyer Ettyl was unable to raise the finance and Esken said it was not prepared to provide any more financial support.
Meanwhile, payment solutions provider Eckoh shed 9% to 67p after posting lower full-year results due to the COVID-19 pandemic, while UK lockdowns caused a fall in recurring revenue to 71% from 75%.