Bio Green Med Solution, Inc. (BGMS) Form 10-Q — Aug 14, 2026
Bio Green Med Solution (BGMS), the former Cyclacel Pharmaceuticals, reported six-month revenue of $1.1 million and a net loss of $602,000, with cash of $3.8 million expected to fund operations only into the first quarter of 2027. Management stated there remains substantial doubt about the company's ability to continue as a going concern and warned it may cease operations or file for bankruptcy if it cannot secure additional capital. The 10-Q confirms a full pivot out of biotech: former UK subsidiary Cyclacel Limited entered creditors' voluntary liquidation in January 2025, and the company completed a share exchange with Malaysia's Fitters Sdn. Bhd.
Key figures
- Revenue
- 1114000
- Revenue Yoy
- New revenue stream; prior-year six-month period was $0 (fire safety business acquired September 2025)
- Total Assets
- 7854000
- Cash Position
- 3790000
- Shares Outstanding
- 6622794
- Q2 revenue
- 336000
- Gross margin
- approximately 20%
- Working capital
- 5277000
- Liquidity runway
- into the first quarter of 2027
- Accumulated deficit
- 455013000
- Reverse splits 2025
- ["1-for-16 (May 12, 2025)","1-for-15 (July 7, 2025)"]
- Plogosertib asset sale
- $300,000 plus $170,000 potential milestone (Tethra Biosciences, October 2025)
- Private placement shares
- 1103338
- Deconsolidation gain 2025
- approximately $5.0 million
- Lazar 2026 lawsuit damages
- approximately $12 million
- Fnrg deal termination deadline
- December 31, 2026
- Private placement gross proceeds
- 794403
- Private placement price per share
- 0.72
- Fnrg deal existing holder ownership
- less than 1%
Price after filing
Close on the filing date to close N calendar days later (from $0.93). Historical, not a forecast.
AI analysis
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