Biodexa Pharmaceuticals Plc (BDRX) Form 424B3 — Sep 11, 2026
Biodexa Pharmaceuticals (Nasdaq: BDRX) filed Prospectus Supplement No. 3 on September 11, 2026, adding its 1H26 interim results to a resale prospectus covering up to 29,926,150 ordinary shares represented by 598,523 ADSs held by a selling shareholder. The ADS last closed at $0.6676 on September 10, 2026. For the six months ended June 30, 2026, Biodexa posted a £1.84 million loss (1H25: £3.81 million) on nil revenue, with R&D costs up 75% to £2.92 million driven by the Serenta Phase 3 trial and the newly in-licensed MTX240 program.
Key figures
- Eps
- £(0.000005) basic and diluted loss per share (1H25: £(0.0002))
- Revenue
- £Nil (both 1H26 and 1H25)
- Net Income
- -£1.84 million (loss for 1H26; 1H25 loss was £3.81 million)
- Total Assets
- £12.72 million at June 30, 2026
- Cash Position
- £3.23 million at June 30, 2026 (£8.53 million at December 31, 2025)
- Shares Outstanding
- 373056808922
- Rd Costs1 H26
- £2.92 million (+75% vs £1.67 million in 1H25)
- Eloc Capacity
- $35 million Equity Line of Credit; $26.08 million undrawn at June 30, 2026
- Nci Grant Nmibc
- $3.0 million non-dilutive grant from National Cancer Institute
- Admin Costs1 H26
- £1.74 million (-27% vs £2.38 million in 1H25)
- Ads Ratio Change
- From 100,000 to 500,000 ordinary shares per ADS effective April 6, 2026
- Gist Market Size
- $1.3 billion, expected to grow 6-10% annually through 2032
- Mtx240 Upfront Fee
- $500,000 plus mid-single-digit tiered royalties
- Serenta Enrollment
- 92 of planned 168 subjects across 19 US centers and 10 European centers
- Accumulated Deficit
- £157.60 million
- Share Consolidation
- Every 10,000 ordinary shares consolidated into one, effective July 2026 reorganization
- Last Ads Closing Price
- $0.6676 (September 10, 2026)
- Cprit Grant Offset1 H26
- 66% of FAP R&D costs offset by grant (1H25: 89%)
- Weighted Avg Shares1 H26
- 373230692484
- Operating Cash Outflow1 H26
- £4.61 million (1H25: £3.30 million)
- July2026 Offering Price Per Ads
- $2.85 per ADS ($2.8499 per pre-funded warrant)
- Mtx240 Development Milestones
- $0.5 million undiscounted potential
- Nasdaq Proposed Min Market Value
- $5 million; Biodexa market capitalization currently below threshold
- July2026 Fundraise Gross Proceeds
- $3.5 million (completed July 1, 2026)
AI analysis
Red flags8 · Pro
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.