Biodexa Pharmaceuticals PLC announced the successful exercise of existing Series E and Series F warrants, resulting in approximately $7 million in gross proceeds. The exercised warrants, initially priced at $2.20, were exercised at a reduced price of $1.50 per American Depositary Share (ADS). The ADSs are registered under an effective registration statement (File No. 333-274895) filed with the SEC. In exchange for the cash exercise of the warrants, the warrant holders received new unregistered Replacement Warrants to purchase additional ADSs. The Replacement Warrants have an exercise price of $2.50 per ADS and terms of one and five years. The proceeds from the warrant exercises are intended to fund the company's clinical stage assets and for general corporate purposes. Additionally, the company has committed to...Show More

Biodexa Pharmaceuticals PLC announced the successful exercise of existing Series E and Series F warrants, resulting in approximately $7 million in gross proceeds. The exercised warrants, initially priced at $2.20, were exercised at a reduced price of $1.50 per American Depositary Share (ADS). The ADSs are registered under an effective registration statement (File No. 333-274895) filed with the SEC. In exchange for the cash exercise of the warrants, the warrant holders received new unregistered Replacement Warrants to purchase additional ADSs. The Replacement Warrants have an exercise price of $2.50 per ADS and terms of one and five years. The proceeds from the warrant exercises are intended to fund the company's clinical stage assets and for general corporate purposes. Additionally, the company has committed to filing a registration statement with the SEC for the resale of the ADSs issuable upon exercise of the Replacement Warrants. The announcement also included a press release detailing positive Phase 2 clinical trial results of Biodexa's eRapa in Familial Adenomatous Polyposis (FAP), showing a statistically significant decrease in overall mean polyp burden and an 83% non-progression rate at six months. The trial results are scheduled for presentation at the 2024 Digestive Disease Week annual meeting.