Biodexa Pharmaceuticals is looking at cash runways in 1Q26
As of May 29, 2025, we have access to the following cash resources: Bank cash of $5.7 million. ERAPA Phase 3 Program Escrow Cash $4.4m. Non-drawing CPRIT grant $11.9 million for ERAPA Phase 3 program. Debt of $0.5 million. The CPRIT grant means that the ERAPA Phase 3 program is effectively funded, along with company matches. Based on the latest forecasts, the company has sufficient working capital to fund operations in the first quarter of 2026. As of May 29, 2025, there were 50,506,308,922 common shares and the equivalent of 5,050,630 depository shares. The company holds zero shares in the Ministry of Finance, so the number of voting rights is the same as the number of common shares issued. Based on the share price of $1.06 per ad on May 29, 2025, the company’s market capitalization was $5.4. FAP’s ERAPA Phase 3 investigation is in the final stage of implementation. This is a double-blind, placebo-controlled trial in 168 patients, randomizing 2:1 drug/placebo. This study is expected to be conducted at approximately 30 clinical sites in the US and Europe. The US component of this study is carried out by Lumabridge, based in San Antonio, Texas, and the European component is carried out by medical accuracy. All planned US sites and the majority of European sites have been identified. Recruitment is expected to begin in the coming weeks.
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