Biodexa Pharmaceuticals PLC announced the successful exercise of existing Series E and Series F warrants, resulting in $7 million in gross proceeds. The funds will primarily cover the first year of the eRapa Phase 3 trial in Familial Adenomatous Polyposis (FAP), unlocking additional non-dilutive grant funding. The exercised warrants had initial exercise prices of $2.20, reduced to $1.50 per American Depositary Share (ADS). The ADSs are registered with the SEC, and the warrant holders received new unregistered Replacement Warrants exercisable at $2.50 per ADS. The proceeds will advance clinical assets and for general corporate purposes. The announcement also highlighted positive Phase 2 clinical trial results of eRapa in FAP, which will be presented at the 2024 Digestive Disease Week. The trial showed a significant decrease in...Show More

Biodexa Pharmaceuticals PLC announced the successful exercise of existing Series E and Series F warrants, resulting in $7 million in gross proceeds. The funds will primarily cover the first year of the eRapa Phase 3 trial in Familial Adenomatous Polyposis (FAP), unlocking additional non-dilutive grant funding. The exercised warrants had initial exercise prices of $2.20, reduced to $1.50 per American Depositary Share (ADS). The ADSs are registered with the SEC, and the warrant holders received new unregistered Replacement Warrants exercisable at $2.50 per ADS. The proceeds will advance clinical assets and for general corporate purposes. The announcement also highlighted positive Phase 2 clinical trial results of eRapa in FAP, which will be presented at the 2024 Digestive Disease Week. The trial showed a significant decrease in polyp burden and an 83% non-progression rate at six months. Biodexa's eRapa has received Orphan Designation in the US, with plans to seek the same in Europe. The company's pipeline includes treatments for unmet medical needs, with eRapa being a leading program. The announcement was made on May 22, 2024, and the securities were offered only to accredited investors.