Summary by Moomoo AI
Biodexa Pharmaceuticals reported key developments for H1 2024, highlighted by the exclusive worldwide licensing of eRapa, a Phase 3-ready asset for Familial Adenomatous Polyposis (FAP). The deal included access to a $17M CPRIT grant. Clinical data showed eRapa achieved 83% non-progression rate at 6 months and 75% at 12 months in FAP patients.R&D costs decreased to £2.19M (H1 2023: £2.25M) while administrative costs reduced to £2.03M (H1 2023: £2.29M). The company raised $6.05M through warrant exercises in May 2024. Cash balance stood at £5.06M as of June 30, 2024.Post period, Biodexa secured Health Canada approval for a Phase 2a study of tolimidone in Type 1 diabetes and raised an additional $5M through a registered direct offering. The company faces a Nasdaq delisting notice and requires additional funding before Q1 2025 to remain a going concern.