Cyclacel Pharma (CYCC) Posts Wider Q2 Loss

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Go back to Cyclacel Pharma (CYCC) Posts Wider Q2 Loss

Cyclacel Pharmaceuticals Reports Second Quarter 2020 Financial Results

August 12, 2020 4:05 PM EDT

BERKELEY HEIGHTS, N.J., Aug. 12, 2020 (GLOBE NEWSWIRE) -- Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC, NASDAQ: CYCCP; "Cyclacel" or the "Company"), a biopharmaceutical company developing innovative medicines based on cancer cell biology, today reported its financial results for the second quarter 2020 and business highlights, including an update on its progress with fadraciclib, Cyclacel's novel CDK2/9 inhibitor.

The Company's net loss applicable to common shareholders for the three months ended June 30, 2020 was $2.2 million. As of June 30, 2020, cash and cash equivalents totaled $25.3 million. Based on current spending, the Company estimates it has sufficient resources to fund planned operations, including research and... More