Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 139

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 139
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, 2024, our cash requirements primarily relate to the following:

| · | lease obligations, related to our office and research and development facility, which are recognized as 
 lease liabilities in the consolidated statement of financial position;                                  |

| · | deferred consideration obligations under the license agreement entered into in April 2024 with Emtora; |

| · | purchase obligations, under our commercial supply agreements and related activities; and |

| · | research and development activities related to preclinical and clinical trials for our product candidates 
 in development.                                                                                           |

The lease on our office and
research and development facility commenced in August 2021 and expires in August 2026. Our cash requirements for our lease obligation
(on a discounted basis) are £0.17 million and £0.21 million, for the short-term (payable within twelve months after the reporting
date) and long-term (payable beyond twelve months after the reporting date), respectively. Our lease obligation includes ancillary contractual
commitments in relation to utilities, maintenance and other services.

We built out the office and
laboratory space at our new facility in the period April through August 2021. We recognized £0.05 million in respect of leasehold
improvements during 2021 and an additional £0.19 million in respect of new laboratory equipment. We expect only modest capital expenditures
in the foreseeable future.

As at June 30, 2024, the Group
had cash and cash equivalents of £5.06 million. We forecast the Company currently has enough cash to fund its planned operations
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