Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 138

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 138
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into the first quarter of 2025. To maintain operations beyond that date, additional funding will be required, which may include public
or private equity or debt offerings. Additional capital may not be available on reasonable terms, if at all. If we are unable to raise
additional capital in sufficient amounts or on terms acceptable to us, we may have to significantly delay, scale back or discontinue the
development of our product candidates and formulations, as well as consider other strategic alternatives. If we do not secure additional
funding before the first quarter of 2025, it will no longer be a going concern and would likely be placed in Administration.

Research and Development, Patents and Licenses, Etc.

For the six months ended June
30, 2024 and 2023, our research and development expenses were £2.19 million and £2.25 million, respectively.

For the years ended December
31, 2022 and 2021, our research and development expenses were £4.07 million and £5.11 million, respectively.

Trend Information

Other than as disclosed elsewhere
in this prospectus, we are not aware of any trends, uncertainties, demands, commitments or events that are reasonably likely to have a
material adverse effect on our revenues, profitability, liquidity or capital resources, or that would cause the disclosed financial information
to be not necessarily indicative of future operating results or financial conditions.

Off-Balance Sheet Arrangements

As of and at both June 30, 2024 and December 31,
2023, we did not have any off-balance sheet arrangements.

Critical Accounting Estimates

The
preparation of our consolidated financial statements requires us to make estimates, assumptions and judgments that can have a significant
impact on the reported amounts of assets and liabilities, revenue and expenses and related disclosure of contingent assets and liabilities,
at the respective dates of our financial statements. We base our estimates, assumptions and judgments on historical experience and various
other factors that we believe to be reasonable under the circumstances. Actual results may differ from these estimates under different
assumptions or conditions. Management evaluates estimates, assumptions and judgments on a regular basis and makes changes accordingly,
and discusses critical accounting estimates with the Board of Directors.

The
following are considered to be critical accounting policies because they are important to the portrayal of our financial condition or
results of operations and they require critical management estimates and judgments about matters that are uncertain.

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Revenue

Supply Research and Development of Services

There