Biodexa Pharmaceuticals Plc Files 20-F for Fiscal Year 2023

TL;DR

<b>Biodexa Pharmaceuticals Plc has submitted its 2023 annual report on Form 20-F, detailing its financial performance and corporate information.</b>

AI Summary

Biodexa Pharmaceuticals Plc (BDRX) filed a Foreign Annual Report (20-F) with the SEC on April 19, 2024. Biodexa Pharmaceuticals Plc filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The company was formerly known as Midatech Pharma Plc, with a name change effective June 2, 2015. The filing covers the period from January 1, 2023, to December 31, 2023. Biodexa Pharmaceuticals Plc is classified under the SIC code 2834 for Pharmaceutical Preparations. The company's principal executive offices are located in Cardiff, UK.

Why It Matters

For investors and stakeholders tracking Biodexa Pharmaceuticals Plc, this filing contains several important signals. This filing provides investors and stakeholders with a comprehensive overview of Biodexa's financial health and operational status for the fiscal year 2023. As a UK-based pharmaceutical company, this 20-F filing is crucial for compliance with SEC regulations and for transparency in the US market.

Risk Assessment

Risk Level: low — Biodexa Pharmaceuticals Plc shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate, significant financial or operational disclosures that would indicate high risk.

Analyst Insight

Review the full 20-F filing for detailed financial statements, risk factors, and business segment information to assess Biodexa's performance and future outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period of report)
• 2024-04-19 — Filing Date (Date filed)
• 001-37652 — SEC File Number (SEC filing number)

Key Players & Entities

• Biodexa Pharmaceuticals Plc (company) — Filer
• Midatech Pharma Plc (company) — Former company name
• 20-F (filing) — Filing type
• 2834 (industry_code) — Standard Industrial Classification
• Cardiff (location) — Business address city

FAQ

Industry Context

Biodexa Pharmaceuticals Plc operates within the pharmaceutical preparations industry, focusing on the development and commercialization of pharmaceutical products.

Regulatory Implications

As a foreign private issuer, Biodexa Pharmaceuticals Plc is subject to SEC regulations, including the requirement to file annual reports on Form 20-F.

What Investors Should Do

1. Analyze the detailed financial statements within the 20-F for revenue, expenses, and profitability trends.
2. Review the 'Risk Factors' section for potential challenges and uncertainties facing the company.
3. Examine the business overview and strategy to understand the company's operational focus and growth plans.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 20-F filing.
• 2024-04-19: Filing Date — Date the 20-F report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 20-F filing for the fiscal year 2023, following previous filings which would have included annual reports and other disclosures.

Filing Documents

• bp41224620f.htm (20-F) — 3548KB
• ex2_1.htm (EX-2.1) — 259KB
• ex4_1.htm (EX-4.1) — 209KB
• ex8_1.htm (EX-8.1) — 8KB
• ex12_1.htm (EX-12.1) — 9KB
• ex13_1.htm (EX-13.1) — 5KB
• ex15_1.htm (EX-15.1) — 6KB
• ex97_1.htm (EX-97.1) — 30KB
• mazars_logomed.jpg (GRAPHIC) — 10KB
• pipeline.jpg (GRAPHIC) — 89KB
• 0001214659-24-007125.txt (&nbsp;) — 15088KB
• bdrx-20231231.xsd (EX-101.SCH) — 113KB
• bdrx-20231231_cal.xml (EX-101.CAL) — 73KB
• bdrx-20231231_def.xml (EX-101.DEF) — 265KB
• bdrx-20231231_lab.xml (EX-101.LAB) — 469KB
• bdrx-20231231_pre.xml (EX-101.PRE) — 427KB
• bp41224620f_htm.xml (XML) — 3490KB

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS 8

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 8

KEY INFORMATION

ITEM 3. KEY INFORMATION 8

INFORMATION ON THE COMPANY

ITEM 4. INFORMATION ON THE COMPANY 49

UNRESOLVED STAFF COMMENTS

ITEM 4A. UNRESOLVED STAFF COMMENTS 78

OPERATING AND FINANCIAL REVIEW AND PROSPECTS

ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 78

DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES

ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 85

MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS

ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 94

FINANCIAL INFORMATION

ITEM 8. FINANCIAL INFORMATION 98

THE OFFER AND LISTING

ITEM 9. THE OFFER AND LISTING 99

ADDITIONAL INFORMATION

ITEM 10. ADDITIONAL INFORMATION 99

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 106

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 107 PART II

DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES

ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 111

MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS

ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 111

CONTROLS AND PROCEDURES

ITEM 15. CONTROLS AND PROCEDURES 111

AUDIT COMMITTEE FINANCIAL EXPERT

ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 112

CODE OF ETHICS

ITEM 16B. CODE OF ETHICS 112

PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 112

EXEMPTIONS FROM LISTING STANDARDS FOR AUDIT COMMITTEES

ITEM 16D. EXEMPTIONS FROM LISTING STANDARDS FOR AUDIT COMMITTEES 112

PURCHASE OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS

ITEM 16E. PURCHASE OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 113

CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT

ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 113

CORPORATE GOVERNANCE

ITEM 16G. CORPORATE GOVERNANCE 113

MINE SAFETY DISCLOSURE

ITEM 16H. MINE SAFETY DISCLOSURE 113

DISCLOSURE REGARDING FOREIGN JURISDICTIONS

ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 113

INSIDER TRADING POLICIES

ITEM 16J. INSIDER TRADING POLICIES 113

CYBERSECURITY

ITEM 16K. CYBERSECURITY 113 PART III

FINANCIAL STATEMENTS

ITEM 17. FINANCIAL STATEMENTS 116

FINANCIAL STATEMENTS

ITEM 18. FINANCIAL STATEMENTS 116

EXHIBITS

ITEM 19. EXHIBITS 117

SIGNATURES

SIGNATURES 120 3 GENERAL INFORMATION Biodexa Pharmaceuticals PLC is a public limited company organized under the laws of England and Wales under registered number 09216368. In this annual report, references to "we," "us," "our," "the Group," "Company," "company" or "Biodexa" means Biodexa Pharmaceuticals PLC and our consolidated subsidiaries. Our principal executive offices are located at 1 Caspian Point, Caspian Way, Cardiff, CF10 4DQ, United Kingdom. The telephone number at our principal executive office is +44 29 2048 0180. We maintain an Internet website at www.biodexapharma.com. None of the information contained on our website, or on any other website linked to our website, will be incorporated in this annual report by reference or otherwise be deemed to be a part of this annual report. The trademarks, trade names and service marks appearing in this annual report are the property of their respective owners. PRESENTATION OF FINANCIAL AND OTHER DATA The consolidated financial our consolidated financial statements, as presented at the end of this annual report, which have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board. We prepare our consolidated financial statements in British pounds sterling. Except as otherwise stated, all monetary amounts in this annual report are presented in British pounds sterling. In this annual report, unless otherwise specified or the context otherwise requires: "$" and "U.S. dollar" each refer to the United States dollar (or units thereof); and "," "pence" and "p" each refer to the British pound sterling (or units thereof). References to a particular "fiscal" year are to our fiscal year ended December 31 of such year. We have made rounding adjustments to some of the figures included in this annual r

forward-looking statements ."

forward-looking statements ." 5 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This annual report contains certain forward-looking information about the Company that is intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. These statements may be made directly in this annual report or may be incorporated into this annual report by reference to other documents. Our representatives may also make forward-looking statements. Forward-looking "may," "anticipate," "plan," "estimate," "intend," "should," "can," "likely," "could" and similar expressions are intended to identify forward-looking statements. Forward-looking projections, outlook, analyses or current expectations concerning, among other things, our intellectual property position, research and development projects, results of operations, cash needs, capital expenditures, financial condition, liquidity, prospects, growth and strategies, regulatory approvals and clearances, the markets and industry in which we operate and the trends and competition that may affect the markets, industry or us. These forward-looking statements are based on currently available competitive, financial and economic data together with management's views and assumptions regarding future events and business performance as of the time the statements are made and are subject to risks and uncertainties. We wish to caution you that there are some known and unknown factors that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements, including but not limited to risks related to: our requirement for additional fi

Risk Factors

Risk Factors Our business has significant risks. In addition to the other information included in this annual report, including the matters addressed in the section of the annual report entitled "Cautionary Note Regarding Forward-Looking Statements" and in our financial statements and the related notes, you should consider carefully the risks described below. The risks and uncertainties described below are not the only risks and uncertainties we may face. Additional risks and uncertainties not presently known to us, or that we currently consider immaterial could also negatively affect our business, financial condition, results of operations, prospects, profits and stock prices. If any of the risks described below actually occur, our business, financial condition, results of operations, prospects, profits and stock prices could be materially adversely affected. Summary of Risk Factors The occurrence of one or more of the events or circumstances described in this section titled " Risk Factors ," alone or in combination with other events or circumstances, may materially adversely affect our business, financial condition and operating results. In that event, the trading price of our securities could decline, and you could lose all or part of your investment. Such risks include, but are not limited to: We have incurred significant losses since our inception and anticipate that we will continue to incur losses in the future; Our requirement for additional financing in the short-term represents a material uncertainty that raises substantial doubt about our ability to continue as a going concern. If we require or seek to raise additional capital to fund our operations and we fail to obtain necessary financing, we may be unable to complete the development of our product candidates. Our operations are in early-stage development with no sources of recurring revenue and there is no assurance that we will successfully develop and license our product candidates or e

View Full Filing

View this 20-F filing on SEC EDGAR