Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 33

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 33
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 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 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