Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 141

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 141
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, respectively. No deferred tax asset has been
provided in respect of losses, as there was insufficient evidence to support their recoverability in future periods. The losses do not
have an expiry date.

Going Concern

We
are subject to a number of risks similar to those of other development and early commercial stage pharmaceutical companies. These
risks include, amongst others, generation of revenue from the development portfolio and risks associated with research, development, testing
and obtaining related regulatory approvals of our pipeline products. Ultimately, the attainment of profitable operations is dependent
on future uncertain events which include obtaining adequate financing to fulfill our commercial and development activities and generating
a level of revenue adequate to support our cost structure.

We
have experienced net losses and significant cash outflows from cash used in operating activities over the past years as we develop our
portfolio. As at June 30, 2024, we had total equity of £8.73 million (£4.68 million at December 31, 2023), incurred a net
loss after tax for the six months to June 30, 2024 of £3.31 million, as compared to £3.57 million in the same period in 2023,
and used cash in operating activities of £4.81 million (June 30, 2023: £3.88 million) for the same period.

Our
future viability is dependent on our ability to raise cash from financing activities to finance our development plans until commercialization,
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 a going concern basis, which contemplates the realization of assets and the satisfaction
of liabilities in the normal course of business.

As
of June 30, 2024, we had cash and cash equivalents of £5.06 million.

We
have prepared cash flow forecasts and considered the cash flow requirement for our next three years, including the period twelve months
from the date of the approval of the financial statements. These forecasts show that further financing will be required during the course
of the next 12 months, assuming, inter alia, that certain development programs and other operating activities continue as currently planned. If
we do not secure additional funding before the end of the first quarter of 2025, we will no longer be a going concern