Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 32

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 32
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 the future, we may not be able to sustain profitability in subsequent periods. Our prior losses and expected future losses have had
and will continue to have an adverse effect on our shareholders’ equity and working capital.

Our requirement for additional financing in the short-term represents a material uncertainty that raises substantial doubt about our ability to continue as a going concern.

We have experienced net losses
and significant cash outflows from cash used in operating activities over the past years as we develop our portfolio.

Our future viability is dependent
on our ability to raise cash from financing activities to finance our development plans until milestones and/or royalties can be secured
from partnering our assets, generate cash from operating activities and to successfully obtain regulatory approval to allow marketing
of our development products. Our failure to raise capital as and when needed could have a negative impact on our financial condition and
ability to pursue our business strategies.

Our consolidated financial
statements have been presented on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities
in the normal course of business. As at December 31, 2023 and June 30, 3024, we had cash and cash equivalents of £5.97 million and
£5.06 million, respectively.

We have prepared cash flow
forecasts and considered the cash flow requirement for the next three years, including the period 12 months from the date of approval
of the financial statements included in this prospectus. Our forecasts show that further financing will be required before the end of
the first quarter of 2025.

Our forecast of the period
of time through which our financial resources will be adequate to support our operations is a forward-looking statement and involves risks
and uncertainties, and actual results could vary as a result of a number of factors, including the timing of clinical trials. We have
based this estimate on assumptions that may prove to be wrong, and we could utilize our available capital resources sooner than we currently
expect. If we lack sufficient capital to expand our operations or otherwise capitalize on our business opportunities, our business, financial
condition and results of operations could be materially adversely affected.

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If we raise additional funds
through the issuance of debt securities or additional equity securities, it could result in dilution to our existing shareholders, increased
fixed payment obligations and these securities may have rights senior to those of our ordinary shares (including the Depositary Shares)
and could contain covenants that would restrict our operations and potentially impair our competitiveness, such as limitations on our
ability