---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-036148"
form_type: "8-K"
ticker: "BGMS"
cik: "0001130166"
company_name: "Bio Green Med Solution, Inc."
filed_at: "2024-03-19T23:59:59+00:00"
generated_at: "2026-06-04T12:54:20.166959+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-24-036148
- form_type: 8-K
- ticker: BGMS
- cik: 0001130166
- company_name: Bio Green Med Solution, Inc.
- filed_at: 2024-03-19T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1130166/000110465924036148/0001104659-24-036148-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1130166/000110465924036148/tm249239d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-036148
- JSON: https://secwatch.observer/filing/0001104659-24-036148.json
- Plain text: https://secwatch.observer/filing/0001104659-24-036148.txt

## Key facts
- Earnings Releases
  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
  source text: Net loss for the three months and year ended December 31, 2023, was $5.3 million and $22.6 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1130166/000110465924036148/0001104659-24-036148-index.htm
- Earnings Releases
  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
  source text: Net loss for the three months and year ended December 31, 2023, was $5.3 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1130166/000110465924036148/0001104659-24-036148-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.