---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-061146"
form_type: "8-K"
ticker: "BGMS"
cik: "0001130166"
company_name: "Bio Green Med Solution, Inc."
filed_at: "2024-05-14T23:59:59+00:00"
generated_at: "2026-06-02T00:17:22.818707+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Cyclacel reports Q1 net loss of $2.9M; begins Phase 2 fadraciclib enrollment; secures $8M private placement

## Summary
- Net loss of $2.9M for Q1 2024 compared to $5.8M in Q1 2023; R&D expenses fell to $2.8M from $5.7M.
- Pro forma cash $9.9M including $8M private placement proceeds; actual cash $2.8M at March 31, 2024.
- Phase 2 proof-of-concept study for oral fadraciclib enrolling patients; final Phase 1 data to be presented at ASCO 2024.
- $8.0 million private placement completed under Nasdaq rules, bolstering balance sheet.
- Net cash used in operations was $0.5M in Q1 2024 vs $6.9M in Q1 2023; company expects funding into Q4 2024.

## SEC filing metadata
- accession: 0001104659-24-061146
- form_type: 8-K
- ticker: BGMS
- cik: 0001130166
- company_name: Bio Green Med Solution, Inc.
- filed_at: 2024-05-14T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1130166/000110465924061146/0001104659-24-061146-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1130166/000110465924061146/tm2414455d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-061146
- JSON: https://secwatch.observer/filing/0001104659-24-061146.json
- Plain text: https://secwatch.observer/filing/0001104659-24-061146.txt

## Key facts
- Earnings Releases
  Bio Green Med Solution, Inc. reported first quarter ended March 31, 2024 results: net income Net loss for the three months March 31, 2024, was $2.9 million (including stock-based compensation expense of $0.2 milli.
  - Period: first quarter ended March 31, 2024
  - Net income: Net loss for the three months March 31, 2024, was $2.9 million (including stock-based compensation expense of $0.2 milli
  - Result: reported results
  source text: Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC, NASDAQ: CYCCP; "Cyclacel" or the "Company"), a biopharmaceutical company developing innovative medicines based on cancer cell biology, announced today first quarter financial results and provided a business update.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1130166/000110465924061146/0001104659-24-061146-index.htm

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