Jaguar8 commented on a stock · Nov 13, 2024 06:02

NEWS ER

Cyclacel Pharmaceuticals Reports Third Quarter Financial Results and Provides Business Update

Positive
Net loss decreased by 67% to $2.0 million from $6.0 million YoY

R&D expenses reduced by 81% to $1.0 million from $5.2 million YoY

Operating cash burn reduced to $6.6 million from $12.2 million for nine months

Negative
Cash position declined to $3.0 million from $3.4 million at end-2023

Risk of Nasdaq delisting if minimum stockholders' equity requirement not met by December 24, 2024

Substantial doubt about company's ability to continue as going concern

Current cash only sufficient to fund operations into Q4 2024

Potential bankruptcy risk if additional funding not secured

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