Biodexa Pharmaceuticals PLC(BDRX) - 2020 Q2 - Earnings Call Presentation

Strategy and Pipeline - Midatech is re-aligning its strategy to collaborate and partner early in the drug development process, focusing on enhanced formulations of existing APIs in orphan/specialty indications to create value internally[10] - The company has diversified its R&D portfolio, increasing the Q-Sphera pipeline from 1 to 7 programs in four months[12] - The Q-Sphera pipeline includes 7 programs in total, with 6 new programs since the strategic review, 5 small molecules, 3 partnered programs, 2 internal programs, 2 partners, and 1 protein[13] - MTX110 clinical program has multiple possibilities for brain cancer treatment in children[15] Financial Performance (H1 2020 vs H1 2019) - Revenue decreased from £0.45 million to £0.17 million, a decrease of £0.28 million[16] - R&D costs increased from £3.46 million to £3.99 million, an increase of £0.53 million[16] - Administrative costs increased from £2.05 million to £2.93 million, an increase of £0.88 million[16] - The company recognized an impairment of £11.59 million in H1 2020[16] - Operating loss increased from £(5.24) million to £(18.35) million, an increase of £(13.10) million[16] - Net loss increased from £(4.42) million to £(17.42) million, an increase of £(13.00) million[16] Liquidity - As of June 30, 2020, the company had cash and cash equivalents of £4.33 million[18] - Pro forma net cash/(debt) is £9.70 million, considering settlement of Spain liabilities, UK placing in July 2020 of £5.28 million, and warrant exercises in August 2020 of £0.83 million[18]