Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 125

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 125
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                     | 8,727 |     |                       | 12,024 |
| Total capitalization      |     |                     | 8,935 |     |                       | 12,232 |

_______________________

| (1) | The proceeds have been translated into British pounds sterling at a rate of £1.00 to $1.29138. |

| (2) | All proceeds from the sale of the securities have been reflected within Total equity for purposes of this                                          
 table. We will be required to complete an assessment of the accounting and valuation for such instruments, which may result in a portion           
 of the proceeds being classified outside of Total equity and remeasured to fair value each reporting period (if liability-classified instruments). 
 Such assessment will be completed in connection with the preparation of our consolidated financial statements for the period in which              
 the sales occur.                                                                                                                                   |

The table above does not include:

| · | 274,420,765 Ordinary Shares issuable upon the exercise of stock                                                
 options outstanding under our equity incentive plans at a weighted-average exercise price of £0.005 per share; |

| · | 99 Ordinary Shares issuable upon the exercise of stock options assumed in connection with the acquisition 
 of DARA Biosciences, Inc., at a weighted average exercise price of $877.13 per share;                     |

| · | warrants, including pre-funded warrants and shares held in abeyance upon exercise of warrants,                                         
 exercisable for 443,997 Depositary Shares (representing 4,439,970,000 Ordinary Shares), at a weighted-average exercise price of $66.28 
 per Depositary Share; and                                                                                                              |

| · | the Purchase Shares and any Commitment Shares. |

| 64 |

<div align='center'>MANAGEMENT’S DISCUSSION AND ANALYSIS AND RESULTS OF OPERATIONS</div>

The following discussion and analysis of our financial condition and results of operations should be read together with our audited consolidated financial statements and the accompanying notes thereto and our unaudited condensed consolidated financial statements and the accompanying notes thereto for the six months ended June 30, 2024, included elsewhere in this prospectus. We have prepared our consolidated financial statements in this prospectus in pounds sterling and in accordance with IFRS,a s issued by the International Accounting Standards Board, which may differ in material respects from generally accepted accounting principles in other jurisdictions, including generally accepted accounting principles in the United States. IFRS differs in some significant respects from U