Core Viewpoint - Cyclacel Pharmaceuticals has amended its Exchange Agreement with FITTERS Diversified Berhad to facilitate the acquisition of Fitters Sdn. Bhd., a subsidiary of FITTERS, through the exchange of shares and a cash payment [1][2][3]. Company Overview - Cyclacel Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing innovative cancer medicines based on cell cycle, epigenetics, and mitosis biology [6]. - The company is evaluating plogosertib, a PLK1 inhibitor, in patients with solid tumors and hematological malignancies, aiming to build a diversified biopharmaceutical business [6]. Transaction Details - Under the amended Exchange Agreement, Cyclacel will exchange all ordinary shares of Fitters Sdn. Bhd. for common stock, representing 19.99% of Cyclacel's issued and outstanding shares at closing [2]. - Cyclacel will also pay USD 1,000,000 or a mutually agreed amount to FITTERS as part of the transaction [2]. - The final date for the transaction has been extended to September 30, 2025 [2]. Approval and Governance - The transaction is subject to approval from the stockholders of both Cyclacel and FITTERS, and has been unanimously approved by the Boards of Directors of Cyclacel, FITTERS, and Fitters Sub [3]. Fitters Sdn. Bhd. Overview - Fitters Sdn. Bhd. specializes in distributing, trading, and installing fire safety materials and equipment, with a strong reputation for reliability and compliance with regulatory standards [4][8]. - The company offers a wide range of fire safety products, including fire extinguishers, fire-resistant doors, and personal protective equipment [8].

         - Fibrolamellar hepatocellular carcinoma (FLC) has no approved treatment and          occurs mostly in adolescents and young adults - KUALA LUMPUR, Malaysia, July 07, 2025 (GLOBE NEWSWIRE) -- Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC, NASDAQ: CYCCP; “Cyclacel” or the “Company”), a biopharmaceutical company developing innovative cancer medicines, highlighted a publication from independent investigators titled, “DNAJ-PKAc fusion heightens PLK1 inhibitor sensitivity in fibrolamellar carcinoma,” pub ...

Forward-looking Statements This news release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include, among other things, Cyclacel's future plans and prospects, Cyclacel's anticipated cash runway and the planned timing of data results and continued development of plogosertib. Fac ...

Core Viewpoint - Cyclacel Pharmaceuticals has successfully completed a private placement of its convertible Series F Preferred Stock, raising gross proceeds of $3.0 million, which will be utilized for working capital and general corporate purposes [1][2]. Group 1: Financing Details - The private placement involved the issuance of convertible Series F Preferred Stock and warrants to purchase a total of 9,810,000 shares of common stock at varying exercise prices of $0.51, $0.60, and $0.68 per share [1]. - The offering closed on June 20, 2025, and the warrants will expire five years from the date of issuance [1]. - Each share of Preferred Stock is convertible into 3.27 shares of Common Stock, subject to stockholder approval as per Nasdaq listing rules [3]. Group 2: Use of Proceeds - The net proceeds from the offering are intended for working capital and general corporate purposes, which, along with existing cash, is expected to extend the company's cash runway into the third quarter of 2025 [2]. Group 3: Regulatory and Legal Aspects - The securities issued in the private placement have not been registered under the Securities Act of 1933 and were sold in reliance on Regulation S [4]. - The offering was conducted directly to investors without the involvement of a placement agent, underwriter, broker, or dealer [4]. Group 4: Company Overview - Cyclacel Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing innovative cancer medicines, particularly through its anti-mitotic program, plogosertib, which targets PLK1 in various cancer types [7].

Core Viewpoint - Cyclacel Pharmaceuticals is focusing on the development of its plogosertib clinical program while undergoing significant operational changes due to the liquidation of its UK subsidiary, Cyclacel Limited, which has impacted its financial results and strategic direction [2][4][7]. Financial Highlights - As of March 31, 2025, cash and cash equivalents increased to $3.5 million from $3.2 million as of December 31, 2024 [3]. - Net cash used in operating activities for the first quarter of 2025 was $3.3 million, with current cash resources expected to fund planned programs into the second quarter of 2025 [3]. - Research and development expenses were $0.8 million for the first quarter of 2025, a decrease from $2.8 million in the same period of 2024, primarily due to the cessation of expenditures related to the transcriptional regulation program following the liquidation of Cyclacel Limited [4]. - General and administrative expenses rose to $4.2 million for the first quarter of 2025, up from $1.6 million in the same period of 2024, attributed to one-time costs associated with the change of control [5]. - The company reported a net loss of $0.1 million for the first quarter of 2025, a significant improvement compared to a net loss of $2.9 million in the same period of 2024 [7]. Strategic Developments - The company has decided to focus solely on the plogosertib program and has repurchased related assets for approximately $0.3 million to enhance the development of an alternative salt, oral formulation with improved bioavailability [2]. - Following the liquidation of Cyclacel Limited, the company lost operational control over the subsidiary, leading to a gain on deconsolidation of approximately $5.0 million, which increased stockholders' equity [2][6]. - The company is exploring strategic alternatives to ensure its continued operation, including raising additional debt or equity financing or pursuing a merger or acquisition [2]. Research and Development Focus - Cyclacel is concentrating on the plogosertib program, which is a PLK1 inhibitor being evaluated for treating solid tumors and hematological malignancies [8]. - The company has ceased expenditures related to the fadraciclib program due to the liquidation of Cyclacel Limited, which has allowed for a reallocation of resources towards plogosertib [4][6]. Summary of Financial Performance - Total operating expenses for the first quarter of 2025 were $5.0 million, compared to $4.4 million in the same period of 2024 [11]. - The company reported total other income of $5.0 million for the first quarter of 2025, primarily due to the gain on deconsolidation of the UK subsidiary [6]. - The total assets as of March 31, 2025, were $3.7 million, a decrease from $4.1 million as of December 31, 2024, reflecting the impact of the subsidiary's liquidation [12][13].

Core Viewpoint - Cyclacel Pharmaceuticals is focusing on the development of its plogosertib clinical program while undergoing significant operational changes due to the liquidation of its UK subsidiary, Cyclacel Limited, which has impacted its financial results and strategic direction [2][4][7]. Financial Highlights - As of March 31, 2025, cash and cash equivalents increased to $3.5 million from $3.2 million as of December 31, 2024 [3]. - Net cash used in operating activities for the first quarter of 2025 was $3.3 million, with current cash resources expected to fund planned programs into the second quarter of 2025 [3]. - Research and development expenses for the first quarter of 2025 were $0.8 million, a decrease from $2.8 million in the same period of 2024, primarily due to the cessation of expenditures related to the transcriptional regulation program following the liquidation of Cyclacel Limited [4]. - General and administrative expenses rose to $4.2 million in the first quarter of 2025 from $1.6 million in the same period of 2024, attributed to one-time costs associated with the change of control [5]. - The company reported a net loss of $0.1 million for the first quarter of 2025, a significant improvement compared to a net loss of $2.9 million in the same period of 2024 [7]. Strategic Developments - The company has repurchased certain assets related to plogosertib for approximately $0.3 million to enhance the development of an alternative salt, oral formulation with improved bioavailability [2]. - Following the liquidation of Cyclacel Limited, the company anticipates a significant decrease in research and development expenses for the year ending December 31, 2025 [2][4]. - The company is exploring strategic alternatives to continue as a going concern, including raising additional debt or equity financing or pursuing a merger or acquisition [2]. Other Financial Metrics - Total other income for the first quarter of 2025 was $5.0 million, primarily due to a gain on deconsolidation of the UK subsidiary [6]. - The company lost eligibility for research and development tax credits following the liquidation of Cyclacel Limited, resulting in no tax credits for the first quarter of 2025 compared to $1.4 million in the same period of 2024 [6][7].

BERKELEY HEIGHTS, NJ, May 07, 2025 (GLOBE NEWSWIRE) -- Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC, NASDAQ: CYCCP; "Cyclacel" or the "Company"), a biopharmaceutical company developing innovative medicines, today announced that it expects to implement a 1-for-16 reverse stock split on its shares of common stock effective May 12, 2025, with trading to begin on a split-adjusted basis at the market open on that day. Trading in the shares of common stock will continue on The Nasdaq Capital Market under the symb ...