Bio Green Med Solution, Inc. BGMS
Part I, Item 1A of this Annual Report on Form 10-K. In this report, "Bio Green Med Solution," "BGMS," the "Company,"
"we," "us," and "our" refer to Bio Green Med Solution, Inc. (fka Cyclacel Pharmaceuticals,
Inc.).
December 2024, Bio Green Med Solution, Inc. ("BGMS" or the "Company"), a Delaware corporation formerly known
Last close
0.90
2026-09-04
Market cap
$6.0M
2026-06-30 share count
52-week range
0.57 - 6.70
Valuation FY2025 figures against the last close
P/S8.0x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-6.45
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $747.0K | $43.0K | $420.0K | $0 | $0 | $0 | — | $150.0K | $0 | $843.0K |
| R&D | $848.0K | $6.7M | $19.2M | $20.3M | $14.9M | $4.8M | $4.7M | $4.3M | $4.2M | $9.5M |
| SG&A | $7.7M | $5.4M | $6.7M | $7.4M | $7.5M | $5.9M | $5.0M | $5.4M | $5.3M | $5.5M |
| Total operating expenses | $9.2M | $12.0M | $25.9M | $27.7M | $22.4M | $10.6M | $9.7M | $9.7M | $9.5M | $15.0M |
| Operating income | -$8.4M | -$12.0M | -$25.5M | -$27.7M | -$22.4M | -$10.6M | -$9.7M | -$9.5M | -$9.5M | -$14.2M |
| Interest expense | $62.0K | $12.0K | — | — | — | — | — | — | — | — |
| Pre-tax income | -$3.0M | -$12.0M | -$25.6M | -$25.9M | -$22.2M | -$9.7M | -$9.1M | -$8.6M | -$8.5M | -$13.8M |
| Income tax | $7.0K | $782.0K | $3.0M | $4.7M | $3.7M | $1.2M | $1.3M | $1.3M | $993.0K | $2.0M |
| Net income | -$3.0M | -$11.2M | $22.6M | -$21.2M | -$18.5M | -$8.4M | -$7.8M | -$7.3M | -$7.5M | -$11.8M |
| EPS, basic | -6.45 | -502.46 | -6,419.18 | -1.90 | -2.09 | -3.42 | — | — | — | — |
| EPS, diluted | -6.45 | -502.46 | -6,419.18 | -27.24 | -2.09 | -3.42 | -9.84 | -0.62 | -1.95 | -3.50 |
| Shares, diluted (wtd. avg.) | $2.2M | $22.3K | $3.5M | $11.3M | $8.9M | $3.6M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $3.5M | $3.1M | $3.4M | $18.3M | $36.6M | $33.4M | $11.9M | $17.5M | $23.9M | $16.5M |
| Short-term investments | — | — | — | $4.5M | $4.5M | $5.3M | $11.1M | $16.7M | $22.8M | $11.2M |
| Receivables | $1.3M | $0 | $0 | — | — | — | — | — | — | — |
| Inventory | $1.4M | — | — | — | — | — | — | — | — | — |
| Total current assets | $6.3M | $3.7M | $7.4M | $24.4M | $40.9M | $35.5M | $14.0M | $19.8M | $26.0M | $19.6M |
| Property, plant and equipment | $137.0K | $3.0K | $9.0K | $32.0K | $64.0K | $106.0K | $27.0K | $36.0K | $29.0K | $45.0K |
| Goodwill | $1.57B | — | — | — | — | — | — | — | — | — |
| Total assets | $8.2M | $4.1M | $8.8M | $28.1M | $45.3M | $36.8M | $15.3M | $19.8M | $26.0M | $19.7M |
| Accounts payable | $617.0K | $4.6M | $3.5M | $2.6M | $2.1M | $514.0K | $890.0K | $2.7M | $1.6M | $2.5M |
| Total current liabilities | $1.3M | $6.3M | $8.2M | $7.5M | $3.7M | $2.5M | $2.4M | $4.5M | $4.1M | $5.3M |
| Total liabilities | $1.3M | $6.3M | $8.2M | $7.6M | $3.7M | $3.5M | $3.6M | $4.6M | $4.2M | $5.4M |
| Retained earnings | -$454.4M | -$439.5M | -$428.3M | -$405.7M | -$379.4M | -$366.1M | -$357.6M | -$349.8M | -$342.5M | -$335.0M |
| Total equity | $6.8M | -$2.2M | $607.0K | $15.9M | $37.7M | $33.3M | $11.7M | $15.3M | $21.8M | $14.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$4.8M | -$8.0M | -$16.1M | -$20.8M | -$18.5M | -$7.9M | -$9.4M | -$6.7M | -$7.5M | -$10.1M |
| Depreciation and amortisation | $5.0K | $6.0K | $31.0K | $32.0K | $43.0K | $20.0K | $20.0K | $29.0K | $32.0M | $100.0K |
| Stock-based compensation | $2.3M | $592.0K | $1.5M | $1.5M | $1.2M | $430.0K | $466.0K | $331.0K | $266.0K | $782.0K |
| Capital expenditure | — | — | $6.0K | $7.0K | $27.0K | $96.0K | $10.0K | $39.0K | $13.0K | $3.0K |
| Investing cash flow | — | — | -$6.0K | -$7.0K | -$27.0K | -$96.0K | $28.0K | -$39.0K | -$13.0K | $9.0K |
| Financing cash flow | $5.3M | $7.8M | $848.0K | $3.0M | $21.7M | $29.5M | $3.8M | $429.0K | $14.7M | $6.6M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-039675.
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