Company: BDRX
Filing Date: 2025-05-01
Form Type: DRS
Source: 0001214659-25-006756
Chunk: 26

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-01
Form: DRS
Chunk 26
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 expenses payable by us as described in “Underwriting,”
and excluding the proceeds, if any, from the cash exercise of the Pre-Funded Warrants and Series L Warrants sold in this offering.

We intend to use the net proceeds
from this offering to fund our development programs, for working capital and other general corporate purposes.

The allocation of the net
proceeds of the offering represents our estimates based upon our current plans and assumptions regarding industry and general economic
conditions, our future revenues and expenditures.

The amounts and timing of
our actual use of net proceeds will vary depending on numerous factors, including the relative success and cost of our research and development
programs and our ability to gain access to additional financing. As a result, our management will have broad discretion in the application
of the net proceeds, and investors will be relying on our management’s judgment regarding the application of the net proceeds of
this offering. In addition, we might decide to postpone or not pursue certain development activities if the net proceeds from the offering
and any other sources of cash are less than expected.

Pending the application of
the net proceeds as described above, we will hold the net proceeds from this offering in short-term, interest-bearing, securities.

We believe that the net proceeds
of this offering, together with cash on hand, will be sufficient to fund our operations through (assuming (i) no exercise of the underwriters’
over-allotment option, and (ii) we sell all of the securities being offered hereby at the assumed combined public offering price), and
we believe that we will need to raise additional capital to fund our operations thereafter. Additional capital may not be available on
terms favorable to us, or at all. If we raise additional funds by issuing equity securities, our stockholders may experience dilution.
Debt financing, if available, may involve restrictive covenants or additional security interests in our assets. Any additional debt or
equity financing that we complete may contain terms that are not favorable to us or our stockholders. If we raise additional funds through
collaboration and licensing arrangements with third parties, it may be necessary to relinquish some rights to our technologies or products
or grant licenses on terms that are not favorable to us. If we are unable to raise adequate funds, we may have to delay, reduce the scope
of, or eliminate some or all of, our development programs or liquidate some or all of our assets.

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<div align='center'>DIVIDEND POLICY