Cyclacel Pharmaceuticals Q2 2024 Update
Ticker: BGMSP · Form: 10-Q · Filed: Aug 14, 2024 · CIK: 1130166
Sentiment: neutral
Topics: financials, quarterly-report, warrants
Related Tickers: CYCC
TL;DR
CYCC Q2 cash $1.5M, warrant details disclosed.
AI Summary
Cyclacel Pharmaceuticals, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported cash and cash equivalents of $1.5 million. The filing also details information regarding common stock warrants, including risk-free interest rates, price volatility, and expected term as of June 30, 2024.
Why It Matters
This filing provides a snapshot of Cyclacel's financial health and operational details for the second quarter of 2024, which is crucial for investors to assess the company's performance and future prospects.
Risk Assessment
Risk Level: medium — The company's financial health and operational details, particularly concerning cash reserves and warrant valuations, present moderate risk for investors.
Key Numbers
- $1.5M — Cash and Cash Equivalents (Represents the company's liquidity as of June 30, 2024.)
Key Players & Entities
- Cyclacel Pharmaceuticals, Inc. (company) — Filer of the 10-Q report.
- 20240630 (date) — End of the reporting period for the 10-Q.
- $1.5 million (dollar_amount) — Cash and cash equivalents reported by the company.
FAQ
What was Cyclacel Pharmaceuticals' cash and cash equivalents balance as of June 30, 2024?
As of June 30, 2024, Cyclacel Pharmaceuticals reported cash and cash equivalents of $1.5 million.
What is the filing period for this 10-Q report?
The 10-Q report is for the period ended June 30, 2024.
What specific warrant-related inputs are detailed in the filing?
The filing details risk-free interest rate, price volatility, and expected term for common stock warrants.
What is the company's fiscal year end?
The company's fiscal year ends on December 31.
What is the company's state of incorporation?
The company is incorporated in Delaware (DE).
Filing Stats: 4,615 words · 18 min read · ~15 pages · Grade level 17.1 · Accepted 2024-08-14 17:05:26
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share CYCC The Nasdaq Stock Mar
- $000 — INC. CONSOLIDATED BALANCE SHEETS (In $000s, except share, per share, and liquidat
Filing Documents
- cycc-20240630x10q.htm (10-Q) — 1349KB
- cycc-20240630xex31d1.htm (EX-31.1) — 14KB
- cycc-20240630xex31d2.htm (EX-31.2) — 15KB
- cycc-20240630xex32d1.htm (EX-32.1) — 5KB
- cycc-20240630xex32d2.htm (EX-32.2) — 5KB
- cycc-20240630x10q001.jpg (GRAPHIC) — 19KB
- cycc-20240630x10q002.jpg (GRAPHIC) — 33KB
- 0001558370-24-012271.txt ( ) — 5945KB
- cycc-20240630.xsd (EX-101.SCH) — 46KB
- cycc-20240630_cal.xml (EX-101.CAL) — 35KB
- cycc-20240630_def.xml (EX-101.DEF) — 222KB
- cycc-20240630_lab.xml (EX-101.LAB) — 355KB
- cycc-20240630_pre.xml (EX-101.PRE) — 305KB
- cycc-20240630x10q_htm.xml (XML) — 818KB
Financial Information
Part I. Financial Information Item 1.
Financial Statements (Unaudited)
Financial Statements (Unaudited) 3 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 29 Item 4.
Controls and Procedures
Controls and Procedures 29
Other Information
Part II. Other Information Item 1.
Legal Proceedings
Legal Proceedings 30 Item 1A.
Risk Factors
Risk Factors 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 3. Defaults Upon Senior Securities 31 Item 4. Mine Safety Disclosures 31 Item 5. Other Information 31 Item 6. Exhibits 31 SIGNATURE PAGE 32 2 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements CYCLACEL PHARMACEUTICALS, INC. CONSOLIDATED BALANCE SHEETS (In $000s, except share, per share, and liquidation preference amounts) (Unaudited) June 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 6,000 $ 3,378 Prepaid expenses and other current assets 1,707 4,066 Total current assets 7,707 7,444 Property and equipment, net 5 9 Right-of-use lease asset 65 93 Non-current deposits 413 1,259 Total assets $ 8,190 $ 8,805 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 4,741 $ 3,543 Accrued and other current liabilities 2,445 4,618 Total current liabilities 7,186 8,161 Lease liability 5 37 Total liabilities 7,191 8,198 Stockholders' equity: Preferred stock, $ 0.001 par value; 5,000,000 shares authorized at June 30, 2024 and December 31, 2023; 6 % Convertible Exchangeable preferred stock; 335,273 shares issued and outstanding at June 30, 2024 and December 31, 2023. Aggregate preference in liquidation of $ 4,006,512 as of June 30, 2024 and December 31, 2023 — — Series A convertible preferred stock, $ 0.001 par value; 264 shares issued and outstanding at June 30, 2024 and December 31, 2023 — — Series B convertible preferred stock, $ 0.001 par value; 0 shares issued and outstanding at June 30, 2024 and 119,000 shares issued and outstanding at December 31, 2023 — — Common stock, $ 0.001 par value; 100,000,000 shares authorized at June 30, 2024 and December 31, 2023; 1,805,204 shares issued and outstanding at June 30, 2024 and 1,058,892 shares issued and outstanding at December 31, 2023 2 1 Additional paid-in capital 436,397 429,796 Accumulated other comprehensive loss ( 915 ) ( 908 ) Accumulated deficit ( 434,485 ) ( 428,282 ) Total stockholders' equity 999 607 Total liabilities and stockholders' equity $ 8,190 $ 8,805 The accompanying notes are an integral p