Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 137

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 137
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.06 million as compared to £5.23 million as at June 30, 2023.

Cash
increased for the year ended December 31, 2023 by £3.14 million, before the impact of foreign exchange movements, compared to an
decrease of £7.22 million in 2022. This increase was primarily due to funds received from financing activities offset by continuing
trading losses. As of December 31, 2023, we had cash and cash equivalents of £5.97 million compared to £2.84 million as at
December 31, 2022.

| 70 |

Cash Commitments

As of June 30, 2024, our cash
resources were expected to provide liquidity into the first quarter of 2025. The Company remains focused on tight control of its cash
commitments at any given time. As of June 30, 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