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BDRX

Biodexa Pharmaceuticals Plc

BDRX

Biodexa Pharmaceuticals Plc • NASDAQ
$4.53 ▲ 4.14% (+0.18)
Market Cap $2.81 M
52w High $92.00
52w Low $3.58
Dividend Yield 0%
P/E -0.17
Volume 643
Outstanding Shares 619.52K

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $0 $2.351M ▲ $-3.806M ▼ 0% $-150.6K ▼ $-3.945M ▲
Q4-2024 $0 $1.728M ▼ $-2.421M ▲ 0% $-36.5K ▲ $-4.927M ▼
Q2-2024 $0 ▼ $4.223M ▲ $-3.308M ▲ 0% ▲ $-79.2K ▼ $-3.248M ▼
Q4-2023 $83K ▼ $1.602M ▼ $-3.511M ▲ -4.23K% ▼ $-11.3K ▲ $-2.287M ▲
Q2-2023 $298K $1.905M $-3.568M -1.197K% $-21.9K $-4.171M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $4.036M ▲ $14.824M ▲ $3.388M ▼ $11.436M ▲
Q4-2024 $1.669M ▼ $14.78M ▲ $6.458M ▲ $8.322M ▼
Q2-2024 $5.055M ▼ $13.968M ▲ $5.241M ▼ $8.727M ▲
Q4-2023 $5.971M ▲ $10.542M ▲ $5.864M ▲ $4.678M ▼
Q2-2023 $5.227M $7.962M $2.663M $5.299M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-3.806M ▼ $-3.304M ▲ $-339K ▼ $6.01M ▲ $4.036M ▲ $-3.306M ▲
Q4-2024 $-2.421M ▲ $-7.454M ▼ $156K ▲ $3.912M ▼ $-5.055M ▼ $-8.228M ▼
Q2-2024 $-3.308M ▲ $-4.807M ▼ $-754K ▼ $4.645M ▲ $5.055M ▲ $-4.807M ▼
Q4-2023 $-3.511M ▲ $-2.945M ▲ $-285K ▼ $3.974M ▼ $372K ▼ $-2.967M ▲
Q2-2023 $-3.568M $-3.881M $20K $6.252M $1.196M $-3.885M

Five-Year Company Overview

Income Statement

Income Statement Biodexa is still a classic early‑stage biotech on the income side: no product sales and only operating losses. The losses themselves appear relatively small in absolute terms, but they are persistent year after year and reflect ongoing R&D and corporate costs without any offsetting revenue. The extremely large swings in reported earnings per share are largely a by‑product of repeated reverse stock splits rather than major underlying business changes. Overall, the income statement shows a company investing in development with no commercial payback yet, and continued dependence on outside funding to cover expenses.

Balance Sheet

Balance Sheet The balance sheet looks very light, with only a small pool of total assets and equity and no meaningful debt. Cash is the key asset, and its level has moved around as the company raises money and spends it on trials. The absence of debt reduces financial pressure from interest or repayments, but the thin equity base and tiny asset levels highlight how small and financially fragile the company is. This structure is typical for a micro‑cap biotech, but it means the business is sensitive to any setbacks in funding or trial progress.

Cash Flow

Cash Flow Cash flow is consistently negative from operations, reflecting ongoing R&D and overhead with no revenue inflow. There is essentially no spending on physical assets, so cash burn is almost entirely driven by running the clinical programs and the corporate platform. Free cash flow has been negative for years and of a similar magnitude each year, pointing to a steady burn rate rather than one‑off spikes. This pattern implies that future progress depends on the company’s ability to repeatedly access external capital markets or strike partnerships to keep funding its pipeline.

Competitive Edge

Competitive Edge Competitively, Biodexa is positioned as a niche, clinical‑stage player focused on serious diseases with limited treatment options, such as Familial Adenomatous Polyposis and Type 1 diabetes. Its edge comes from reformulating existing drugs and using proprietary delivery technologies to improve how medicines work in the body, rather than inventing entirely new molecules. Orphan drug and fast‑track designations, if maintained, can provide periods of market exclusivity and regulatory support. However, as a very small company, Biodexa faces structural disadvantages versus larger pharma in funding, trial execution, and commercialization, and its eventual standing will depend heavily on clinical trial outcomes and its ability to secure strong partners.

Innovation and R&D

Innovation and R&D Innovation is where Biodexa is strongest. The lead asset, eRapa, is an improved oral version of rapamycin aimed at a rare colon polyp condition, now in a pivotal late‑stage trial and backed by both fast‑track and orphan designations. Tolimidone targets Type 1 diabetes via a novel mechanism intended to protect or regenerate insulin‑producing cells, which could be meaningfully different from standard insulin therapy if proven in the clinic. The company has stepped back from broader platform technologies and a brain tumor program to focus resources on these two core projects, which simplifies the story but concentrates risk. Overall, the R&D strategy is to reduce scientific risk by starting from known drugs while creating value through smarter formulations and targeting.

Summary

Biodexa is a tiny, pre‑revenue biotech with a very focused pipeline and a fragile but simple financial structure. The business burns cash steadily, carries no real debt, and relies on repeated equity financing, as reflected in its long history of reverse stock splits. Its investment case rests almost entirely on the success of eRapa in a rare colon disease and Tolimidone in Type 1 diabetes, both of which aim to deliver clear clinical advantages through smarter formulation and novel mechanisms. If trials go well and funding remains available, the company could evolve into a specialist player in high‑need niches; if results or financing disappoint, the limited financial cushion leaves little margin for error. This makes Biodexa a high‑risk, high‑uncertainty story typical of early‑stage biotechnology, driven much more by science and trial milestones than by current financial performance.

NEWS

November 24, 2025 · 8:30 AM UTC

Biodexa Activates First European Site for Registrational Phase 3 Serenta Trial in FAP

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November 3, 2025 · 8:30 AM UTC

Biodexa Announces Approval of CTA in Europe for Phase 3 Serenta Trial in FAP First European patient expected to be enrolled in 4Q 2025 Addressable US - European Market Put at $7 Billion

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October 6, 2025 · 8:30 AM UTC

Biodexa to Host Breakfast Symposium on FAP Mechanisms and Chemoprevention Trial Issues at CGA – IGC Conference on October 11, 2025

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September 12, 2025 · 8:30 AM UTC

Interim results for the six months ended June 30, 2025

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September 8, 2025 · 7:00 AM UTC

Biodexa Moves Into Phase 3 With eRapa For FAP With First Patients Enrolled

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