Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 130

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 130
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:|:--|
|                                                            |     | -£ in thousands         |        |   |     |     |        |   |
| Revenue                                                    |     |                         |    381 |   |     |     |    699 |   |
| Total revenue                                              |     |                         |    381 |   |     |     |    699 |   |
| Other income                                               |     |                         |     14 |   |     |     |     22 |   |
| Research and development costs                             |     |                         | (4,067 | ) |     |     | (5,111 | ) |
| Administrative costs                                       |     |                         | (4,342 | ) |     |     | (4,542 | ) |
| Loss from operations                                       |     |                         | (8,014 | ) |     |     | (8,932 | ) |
| Finance income                                             |     |                         |    570 |   |     |     |    497 |   |
| Finance expense                                            |     |                         |    (41 | ) |     |     |    (53 | ) |
| Loss before taxation                                       |     |                         | (7,485 | ) |     |     | (8,488 | ) |
| Taxation                                                   |     |                         |    406 |   |     |     |    832 |   |
| Loss from continuing operations                            |     |                         | (7,079 | ) |     |     | (7,656 | ) |
| Loss for the year attributable to the owners of the parent |     |                         | (7,079 | ) |     |     | (7,656 | ) |

Revenue.
For the year ended December 31, 2023, we generated consolidated revenues from continuing operations of £0.38 million, compared to
£0.70 million in 2022, comprising Q-Sphera formulation services under R&D collaboration agreements for customers in each year,
which have now ceased.

Research and Development Costs. We incurred research and development costs of £4.07 million in 2023, compared to £5.11 million
in 2022, a reduction of 20%. The reduction in the year reflects our decision to reposition as a therapeutics company and to not expand
our internal drug delivery platform, resulting in a reduction in pre-clinical expense of £0.87 million. Personnel costs also reduced
by £0.39