- R&D-focused treatment developer Midatech Pharma said it was urgently looking to conclude discussions with a potential strategic investor to help it stay afloat.

The company said it had 'very limited cash' to enable it to continue as a going concern.

'There is no guarantee that the company will be able to conclude these funding discussions on terms or quantum similar to those outlined in the update announcement or at all,' Midatech said.

'Further announcements will be made as appropriate.'

Separately, the company said it had received feedback from the FDA on how it might conduct a regulatory study for its lead product candidate.

Three scenarios previously envisaged for the study included a single dose analysis in healthy volunteers, a multi-dose study in healthy volunteers and a study in patients.

Midatech said the FDA's feedback indicated that the single-dose scenario would not support a new drug application.

The company was therefore focused on the second and third scenarios to determine an optimal study design.

At 9:26am: [LON:MTPH] Midatech Pharma Plc share price was -3.2p at 2.55p

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