Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 124

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 124
---
 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.S. GAAP. Operating results for the six months ended June 30, 2024 are not necessarily indicative of the results for the full year ending December 31, 2024, or any future period.

The following discussion and analysis contains forward-looking statements. Statements that are not statements of historical fact, including expression of management’s beliefs and expectations, may be forward-looking in nature and based on current plans, estimates, projections and beliefs. Forward-looking statements are applicable only as of the date made, and we undertake no obligation to update any of them in light of new information or future events. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results or outcomes to differ materially from those expressed in any forward-looking statement. These factors include those identified under the headings “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements.”

Information pertaining to
our fiscal year ended December 31, 2021 was included in our Annual Report on Form 20-F for the year ended December 31, 2021, beginning
on page 77 under “Item 5. Operating and Financial Review and Prospects,” which was filed with the SEC on April 26,
2022.

Recent Developments

For information regarding
our recent developments, please see “Business,” which is incorporated herein by reference.

Principal Factors Affecting Results of Operations

We consider the currency exchange
rate between the British pound sterling, Euros and the United States dollar and certain other factors affecting the comparability of results
of operations between periods as those most likely to influence our financial condition