Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 31

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 31
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7,700,260,000 Ordinary Shares (represented by Depositary
Shares) with a weighted-average exercise price of $38.42 per Depositary Share. The Depositary Shares underlying such warrants will, upon
issuance, be freely tradeable without restriction or further registration under the Securities Act.

The market price of Depositary
Shares could drop significantly if the holders described above sell or are perceived by the market as intending to sell. These factors
could also make it more difficult for us to raise additional funds through future offerings of shares of our Depositary Shares or other
securities.

Risks Related to Our Financial Operations and Capital Needs

We have incurred significant losses since our inception and anticipate that we will continue to incur losses in the future.

We are an early-stage biopharmaceutical
company. Investment in biopharmaceutical product development is highly speculative because we entail substantial upfront capital expenditures
and significant risk that a product candidate will fail in development, will fail to gain regulatory approval or otherwise fail to become
commercially viable. We continue to incur significant development and other expenses related to our ongoing operations. As a result, we
are not profitable and have incurred substantial losses since our inception. For the six months ended June 30, 2024, we had a net loss
of £3.31 million and an accumulated deficit of £147.88 million. For the years ended December 31, 2023, 2022 and 2021 we had
a net loss of £7.08 million, £7.66 million and £5.46 million, respectively. For the year ended December 31, 2023, we
had an accumulated deficit of £144.77 million.

We expect to continue to incur
losses for the foreseeable future, and do not expect these losses to reduce as we continue our development of, and work with any licensing
partners to seek regulatory approvals for, our product candidates.

We may encounter unforeseen
expenses, difficulties, complications, delays and other unknown factors that may adversely affect our business. The size of our future
net losses will depend, in part, on the rate of future growth of our expenses and our ability to generate revenues. If we fail to find
licensing partners, if we abandon any development programs, or if any of our licensed product candidates fail in clinical trials or do
not gain regulatory approval, or if approved, fail to achieve market acceptance, we may never become profitable. Even if we achieve profitability
in