TC BioPharm, a clinical-stage biopharmaceutical company, reported a 45% decrease in research and development (R&D) expenses to £2.2 million for the six months ended June 30, 2024, compared to £4.0 million in the same period in 2023. This reduction was primarily due to a strategic refocus and a decrease in personnel costs.The company also saw a 13% decrease in administrative expenses, amounting to £3.3 million, driven by reduced employee-related costs and legal fees, despite an increase in share-based compensation. TC BioPharm's net loss for the period was £5.3 million, a significant change from a net income of £0.4 million in the previous year, largely due to changes in the fair value of derivative liabilities.TC BioPharm raised £6.2 million in August 2024 through share issuance and pre-funded warrants to support ongoing operations. However, the company acknowledges the need for additional funding to continue its research and development efforts, raising concerns about its ability to continue as a going concern.

TC BioPharm, a clinical-stage biopharmaceutical company, reported a 45% decrease in research and development (R&D) expenses to £2.2 million for the six months ended June 30, 2024, compared to £4.0 million in the same period in 2023. This reduction was primarily due to a strategic refocus and a decrease in personnel costs.The company also saw a 13% decrease in administrative expenses, amounting to £3.3 million, driven by reduced employee-related costs and legal fees, despite an increase in share-based compensation. TC BioPharm's net loss for the period was £5.3 million, a significant change from a net income of £0.4 million in the previous year, largely due to changes in the fair value of derivative liabilities.TC BioPharm raised £6.2 million in August 2024 through share issuance and pre-funded warrants to support ongoing operations. However, the company acknowledges the need for additional funding to continue its research and development efforts, raising concerns about its ability to continue as a going concern.