Cyclacel posts FY2023 net loss $22.6M; cash runway only into Q2 2024

Bio Green Med Solution, Inc.

Net loss $22.6M for FY2023 vs $21.2M in FY2022; R&D expenses $19.2M vs $20.3M.
Cash and equivalents $3.4M at Dec 31, 2023; pro forma $6.3M incl $2.9M UK R&D tax credit received after year end.
Company expects available cash to fund planned programs only into Q2 2024.
On track to start oral fadraciclib Phase 2 proof-of-concept in 1H 2024; final Phase 1 data expected.
Plogosertib to switch to new oral formulation; preclinical data support precision medicine in ARID1A/SMARCA-mutated cancers.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bio Green Med Solution, Inc. reported the year ended December 31, 2023 results: net income $22.6 million.

Period: the year ended December 31, 2023
Net income: $22.6 million
Result: reported results

Exact text from the filing

Net loss for the three months and year ended December 31, 2023, was $5.3 million and $22.6 million

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bio Green Med Solution, Inc. reported the three months ended December 31, 2023 results: net income $5.3 million.

Period: the three months ended December 31, 2023
Net income: $5.3 million
Result: reported results

Exact text from the filing

Net loss for the three months and year ended December 31, 2023, was $5.3 million

View on SEC.gov

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Bio Green Med Solution, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-036148

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