Biodexa Pharmaceuticals PLC, a clinical stage biopharmaceutical company listed on NASDAQ under the ticker BDRX, reported its unaudited interim results for the six months ending June 30, 2024. The company, which focuses on developing treatments for diseases with unmet medical needs, announced operational and financial highlights including the licensing of eRapa, a Phase 3 ready asset for Familial Adenomatous Polyposis (FAP), and the receipt of a $17 million grant. The interim results showed a decrease in R&D and administrative costs, a net cash used in operating activities of £4.81 million, and a cash balance of £5.06 million as of June 30, 2024. Post the reporting period, Biodexa received $5.0 million from a Registered Direct Offering and a private placement. CEO and CFO Stephen Stamp highlighted the licensing of...Show More

Biodexa Pharmaceuticals PLC, a clinical stage biopharmaceutical company listed on NASDAQ under the ticker BDRX, reported its unaudited interim results for the six months ending June 30, 2024. The company, which focuses on developing treatments for diseases with unmet medical needs, announced operational and financial highlights including the licensing of eRapa, a Phase 3 ready asset for Familial Adenomatous Polyposis (FAP), and the receipt of a $17 million grant. The interim results showed a decrease in R&D and administrative costs, a net cash used in operating activities of £4.81 million, and a cash balance of £5.06 million as of June 30, 2024. Post the reporting period, Biodexa received $5.0 million from a Registered Direct Offering and a private placement. CEO and CFO Stephen Stamp highlighted the licensing of eRapa as a significant step forward and outlined plans for executing lead programs in the second half of the year. The company's shares are subject to a potential delisting from NASDAQ due to non-compliance with the minimum bid price requirement, but a hearing has been requested to address the issue. Additionally, a ratio change of the company's ADSs has been announced, to take effect on October 4, 2024.