NEW YORK, NY / ACCESSWIRE / May 3, 2018 / There was no catalyst or news to send shares of both Midatech and Eleven Biotherapeutics higher on Wednesday. Both stocks soared on significantly higher volume than usual with Eleven Biotherapeutics hitting a new high.

RDI Initiates Coverage on:

Midatech Pharma Plc
https://rdinvesting.com/news/?ticker=MTP

Eleven Biotherapeutics, Inc.
https://rdinvesting.com/news/?ticker=EBIO

Midatech Pharma Plc shares closed up 10.56% yesterday with more gains seen in after-hours trading as well. There was no significant news from the specialty pharmaceutical company to explain the move up. Trading volume at nearly 6.6 million shares was dramatically higher than the stock's average trading volume of just about 20,000 shares. It was in March when the company had a big announcement when it said that its CEO Dr. Jim Phillips was stepping down at the end of this month. He has served Midatech for five years. In his place Dr. Craig Cook MD, MBA, will be taking over and he will succeed Phillips on June 1st. Dr. Phillips said: "After five years building Midatech into a fast-growth, high potential specialty pharmaceutical company, I am delighted that Craig will take over the reins as the Company completes its key clinical programmes and moves to file product registrations over the coming years. I leave the business with a very capable and strong leader with an excellent team to support him."

Access RDI's Midatech Pharma Plc Research Report at:
https://rdinvesting.com/news/?ticker=MTP

Eleven Biotherapeutics, Inc. shares closed up 10.65% on Wednesday with almost 12.6 million shares traded. The stock hit a new high of $3.50 yesterday on volume much higher than normal, despite no remarkable news from the company. It was at the beginning of last month that the company reported fourth quarter and full year results ending December 31st, 2017. The late-stage clinical company had reported no revenue for the fourth quarter, compared to $0.8 million in the year ago quarter. For the full year revenue was $0.4 million, compared to $30 million for fiscal 2016. The company also reported key pipeline progress. CEO Stephen Hurly stated, "2017 was a year of significant developments for our company, and as we look ahead, I am highly encouraged by what we have already achieved in 2018. Vicinium™, our lead product candidate, holds significant potential in treating a range of cancers, and is well underway in a registration trial for people with non-muscle invasive bladder cancer. We recently completed enrollment in our Phase 3 VISTA trial, and we are pleased that initial data from the first patients in the VISTA trial were selected for an oral presentation at the American Urological Association Annual Meeting. 2018 is set to be a transformative year, and with the completion of our recent equity financing, we are capitalized to continue advancing Vicinium. We look forward to assessing its efficacy and safety in NMIBC, and exploring opportunities to expand its utility in other indications and in combination regimens."