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Drug delivery technology company Midatech Pharma said it expected to post a full-year loss for 2019, and warned of one-off costs in 2020 associated with the termination of a product candidate and closure of operations in Bilbao.
Losses from continuing operations for the year through December 2019 were expected to amount to £9.1m, compared to losses of £10.4m on-year, according to 'headline' numbers released by the company.
The expected financial impacts in 2020 would include a £4.6m cash outflow and non-cash costs including impairment charges of £12.3m.
'The company remains in an 'offer period' as defined in the takeover code in relation to the previously announced formal sale process that is underway as part of the Company's strategic review,' it added.
At 8:03am: (LON:MTPH) Midatech Pharma Plc share price was -1.5p at 40p