IPO - Cyclacel Pharmaceuticals, Inc.

Form Type: S-1

Filing Date: 2025-04-25

Corporate Action: Ipo

Type: New

Accession Number: 000182912625002940

Filing Summary: Cyclacel Pharmaceuticals, Inc. has filed a registration statement on Form S-1 to offer and sell up to 35,181,951 shares of common stock along with an additional 110,000,000 shares underlying Series E preferred stock and 24,844,725 shares underlying common warrants. The company is entering a public offering as part of its strategy to expand its pipeline of innovative cancer medicines and to raise capital needed for development, given its low cash reserves. The offering follows a significant compliance milestone with Nasdaq regarding stockholder equity requirements. The firm emphasizes its focus on a clinical program for plogosertib while undergoing financial restructuring due to the voluntary liquidation of its subsidiary in the UK, Cyclacel Limited. This action reflects the company's current business direction and market dynamics, including risks of raising further capital to support ongoing operations and development activities. The prospectus includes forward-looking statements about the company's drug candidates, market conditions, and anticipated financial challenges.