Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 127

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 127
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| Finance income                                               |     |                            |    839 |   |     |      |    410 |   |
| Finance expense                                              |     |                            |    (49 | ) |     |      |    (22 | ) |
| Loss before tax                                              |     |                            | (3,433 | ) |     |      | (3,856 | ) |
| Taxation                                                     |     |                            |    125 |   |     |      |    288 |   |
| Loss for the period attributable to the owners of the parent |     |                            | (3,308 | ) |     |      | (3,568 | ) |

Revenue. Total
revenue for the six months to June 30, 2024 was £Nil compared to £0.30 million in the first six months of 2023. The research
and development collaboration with Janssen Pharmaceutical NV, which represented the entire revenue in the first half of 2023, concluded
in September 2023.

| 66 |

Research and Development Costs. Research and development costs for the six months ended June 30, 2024 reduced by £0.06 million, or 3%, to £2.19
million, compared with £2.25 million for the six months ended June 30, 2023. The percentage of research and development costs as
a percentage of total operating costs increased to 52% in the period from 50%. The reduction in research and development costs in the
first six months ended June 30, 2024 reflects a reduction in spend of £0.54 million on the MAGIC-G1 study in rGBM, the termination
of legacy drug delivery projects and lower personnel costs offset by the addition of MTD228 (tolimidone) and MTX230 (eRapa) for a combined
expenditure of £0.65 million in the period.

Administrative Costs. Administrative
expenses for the six months ended June 30, 2024 decreased by 11% to £2.03 million from £2.29 million in the same period of
the prior year. The decrease in administrative costs in the first six months ended June 30,2024 is a result of a positive reversal in
foreign exchange of £0.23 million and a reduction in professional fees of £0.14 million offset by increases in share-based
payment charge of £0.12 million and sundry other costs.

Finance