CYCLACEL PHARMACEUTICALS INC 6% CNV PFD USD | 8-K: FY2025 Q1 Revenue: USD 0

Revenue: As of FY2025 Q1, the actual value is USD 0.

EPS: As of FY2025 Q1, the actual value is USD 0.

Segment Revenue

Clinical trial supply revenue was $0 for the three months ended March 31, 2025, compared to $29,000 for the same period in 2024.

Operational Metrics

Research and development expenses were $0.8 million for the three months ended March 31, 2025, a decrease from $2.8 million for the same period in 2024. General and administrative expenses increased to $4.2 million for the three months ended March 31, 2025, from $1.6 million for the same period in 2024. Operating loss was - $5.0 million for the three months ended March 31, 2025, compared to - $4.4 million for the same period in 2024. Net loss for the three months ended March 31, 2025, was - $0.1 million, compared to - $2.9 million for the same period in 2024.

Cash Flow

Cash and cash equivalents totaled $3.5 million as of March 31, 2025, compared to $3.2 million as of December 31, 2024. Net cash used in operating activities was $3.3 million for the three months ended March 31, 2025.

Unique Metrics

Gain on deconsolidation of the UK subsidiary resulted in a $5.0 million increase in stockholders’ equity.

Outlook / Guidance

The company is focusing on the development of the plogosertib clinical program and anticipates a significant decrease in research and development expenses for the year ended December 31, 2025. Cyclacel is analyzing strategic alternatives to continue as a going concern, including raising additional financing or merging with a partner. The company entered into an Exchange Agreement with FITTERS Diversified Berhad to acquire Fitters Sdn. Bhd., a Malaysia-based company.