Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 126

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 126
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.S. GAAP. Operating results for the six months ended June 30, 2024 are not necessarily indicative of the results for the full year ending December 31, 2024, or any future period.

The following discussion and analysis contains forward-looking statements. Statements that are not statements of historical fact, including expression of management’s beliefs and expectations, may be forward-looking in nature and based on current plans, estimates, projections and beliefs. Forward-looking statements are applicable only as of the date made, and we undertake no obligation to update any of them in light of new information or future events. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results or outcomes to differ materially from those expressed in any forward-looking statement. These factors include those identified under the headings “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements.”

Information pertaining to
our fiscal year ended December 31, 2021 was included in our Annual Report on Form 20-F for the year ended December 31, 2021, beginning
on page 77 under “Item 5. Operating and Financial Review and Prospects,” which was filed with the SEC on April 26,
2022.

Recent Developments

For information regarding
our recent developments, please see “Business,” which is incorporated herein by reference.

Principal Factors Affecting Results of Operations

We consider the currency exchange
rate between the British pound sterling, Euros and the United States dollar and certain other factors affecting the comparability of results
of operations between periods as those most likely to influence our financial condition and results of operations.

Currency Exchange Rate

We
report our financial results in British pounds sterling and our cash reserves are also largely denominated in British pounds sterling.

During
the periods set forth in our financial statements, incorporated herein by reference, and in particular during 2022 and 2023, there has
been considerable volatility in the British pound sterling against the Euro and the United States dollar. From time to time, we
enter into transactions denominated in a currency other than our functional currency and this results in foreign exchange risk. At this
time, we do not consider the exposure sufficient to utilize derivatives to manage the forward exchange risk.

Components of Consolidated Statement of Comprehensive Income Items

Revenue

Our
income streams comprise revenue derived from supply of services and from research and development contracts. Revenue is recognized in-line
with that set out in Note 1 to our consolidated financial statements for the year ended December