Cyclacel(CYCC) - 2024 Q2 - Quarterly Results

Financial Position - As of June 30, 2024, cash equivalents totaled $6.0 million, an increase from$3.4 million as of December 31, 2023[3]. - The company estimates that its current cash resources will fund planned programs into the fourth quarter of 2024[3]. - Total liabilities decreased to $7.191 million as of June 30, 2024, from$8.198 million as of December 31, 2023[11]. Operating Activities - Net cash used in operating activities was $3.6 million for the six months ended June 30, 2024, compared to$8.2 million for the same period in 2023[3]. Research and Development - Research and development (R&D) expenses were $2.0 million for the three months ended June 30, 2024, down from$4.7 million for the same period in 2023[4]. - Fadraciclib R&D expenses were $1.5 million for the three months ended June 30, 2024, compared to$3.0 million for the same period in 2023[4]. - The company is nearing completion of recruitment in the precision medicine cohort for the 065-101 study[2]. - The company anticipates reporting interim data from the 065-101 Phase 2 study in the fourth quarter of 2024[2]. Net Loss - Net loss for the three months ended June 30, 2024, was $3.3 million, compared to$5.5 million for the same period in 2023[5]. General and Administrative Expenses - General and administrative expenses remained flat at approximately $1.6 million for each of the three months ended June 30, 2024, and 2023[4].