Recent Updates — BDRX
Biodexa Pharmaceuticals has enrolled the 100th patient in its registrational Phase 3 trial of eRapa for Familial Adenomatous Polyposis (FAP), branded as Serenta. The trial is recruiting at 29 sites across the US and Europe, with two additional Canadian sites expected to open soon. Based on current Progression Free Survival event accrual, the pre-specified futility analysis may occur early next year, and database lock could happen around the end of next year, both significantly sooner than originally anticipated. The company is a clinical-stage biopharmaceutical firm developing treatments for gastrointestinal cancers and other conditions.
Biodexa Pharmaceuticals PLC announced a change in the ratio of its American Depositary Shares (ADSs) from one ADS representing fifty ordinary shares to one ADS representing four hundred ordinary shares. This adjustment is equivalent to a one-for-eight reverse ADS split for ADS holders, who must surrender eight old ADSs for cancellation and exchange for one new ADS. The effective date is expected on or about October 26, 2026. No fractional ADSs will be allocated; aggregate fractions will be sold with net proceeds distributed to entitled holders. The company's ordinary shares are not affected by this change. Biodexa Pharmaceuticals PLC operates in the biopharmaceutical industry, focusing on the development of drug candidates for inflammatory and immune-mediated diseases.
Biodexa Pharmaceuticals entered into a warrant inducement agreement on September 14, 2026, with an accredited holder to exercise all outstanding Series M, N, and O warrants at a reduced price of $1.05 per share. The transaction involves the exercise of 2,204,218 existing warrants, generating approximately $2.3 million in gross proceeds for the company before fees. In exchange, the holder receives two replacement Series P warrants for each exercised warrant, totaling up to 4,408,436 new ADSs with a five-year term and no price protection. The closing is expected on September 15, 2026, subject to customary conditions. Biodexa operates in the biopharmaceutical industry, developing innovative treatments for diseases such as cancer and diabetes.
Biodexa Pharmaceuticals PLC reported unaudited interim results for the six months ended June 30, 2026. R&D costs rose 75% to £2.92 million due to increased activity in the Serenta Phase 3 trial and manufacturing of the newly in-licensed MTX240 program. Administrative expenses decreased by 27% to £1.74 million, primarily driven by foreign exchange movements. The company incurred a net loss of £1.84 million, with finance income including a £2.38 million gain on equity-settled derivative liabilities. Cash balances fell to £3.23 million at June 30, 2026. Post-period, the company raised $3.5 million in gross proceeds through a direct offering and PIPE transaction completed on July 1, 2026. The filing highlights material uncertainties regarding going concern status due to anticipated funding needs in Q4 2026. Biodexa Pharmaceuticals PLC is a clinical-stage biopharmaceutical company developing innovative products for gastrointestinal cancers.
Biodexa Pharmaceuticals PLC shareholders approved a one-for-10,000 reverse stock split effective July 30, 2026, reducing the number of ordinary shares outstanding to 51,453,281. Concurrently, the ADS ratio adjusted from 500,000:1 to 50:1, maintaining proportional ownership and leaving the ADS count at 1,029,063. The company also received authority to allot up to £25,000,000 in new shares through 2029 and adopted new articles of association. Biodexa Pharmaceuticals PLC is a clinical-stage biopharmaceutical company developing innovative treatments for gastrointestinal cancers and other diseases.