Biodexa advances trial enrollment as research spending and cash use rise

Biodexa ($BDRX) reported that 92 of the planned 168 participants have entered its Serenta trial, while first-half research and development spending increased to £2.92 million from £1.67 million. Spending reflected the trial and manufacturing work for its newly licensed MTX240 program. Administrative costs fell to £1.74 million from £2.38 million.

Operating cash use increased to £4.61 million from £3.3 million, leaving £3.23 million in cash at the half-year end. A subsequent financing raised $3.5 million gross, which is separate from that period-end cash balance. Management acknowledged the continuing funding challenge. The update shows clinical progress alongside a higher cash requirement; enrollment progress should not be confused with successful trial results or a fully financed development program.

Sources:

• Biodexa — interim results, GlobeNewswire via StockTitan