The following is a summary of the Cyclacel Pharmaceuticals, Inc. (CYCC) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Cyclacel reported cash and cash equivalents of $9.9 million as of the end of Q1 2024, with net cash used in operating activities substantially down to $0.5 million.

• R&D expenses were also significantly down, standing at $2.8 million, leading to a net loss of $2.9 million for Q1 2024.

• The company's current cash resources are projected to fund planned programs into the fourth quarter of 2024.

Business Progress:

• Cyclacel has begun dosing patients in Phase 2 of the 065-101 study of fadraciclib for patients with specific chromosomal abnormalities.

• Initial results from the study are expected by the second half of 2024.

• The company recently raised $8 million in a financing round.

• They have identified a substantial unmet medical need and industry interest in patient populations with chromosomal abnormalities CDKN2A and CDKN2B, for which no treatments are currently approved.

More details: Cyclacel Pharmaceuticals IR

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