Beckley Psytech's Financial Losses Double

By Tamara Parker • Saturday, October 11 17:31 • Permanent Link

Beckley Psytech Limited released its interim condensed consolidated financial statements for the six months ending June 30, 2025, providing insight into its financial performance and position compared to the same period in 2024.

The company's operating expenses increased significantly, with general and administrative expenses rising to £5,219,000 from £4,182,000 and research and development expenses amounting to £11,406,000, compared to £11,988,000 in 2024.

The operating loss also widened to £30,746,000 from £19,275,000 in the same period last year. However, there was a decrease in interest income to £76,000 from £550,000 and a loss before income taxes of £23,989,000, compared to £11,240,000 in 2024.

The loss for the period was £20,093,000, a significant increase from the loss of £7,478,000 in 2024. Additionally, the total comprehensive loss for the period amounted to £20,260,000, compared to £7,494,000 in the same period last year.

Looking at the balance sheet, the company's total assets decreased to £62,232,000 from £76,223,000 at the end of 2024. Non-current assets remained relatively stable at £50,840,000 compared to £50,472,000, while current assets decreased to £11,392,000 from £25,751,000.

The total liabilities increased to £23,131,000 from £17,190,000, and the net assets decreased to £39,101,000 from £59,033,000 in 2024. The accumulated deficit widened to £87,991,000 from £68,226,000.

In terms of equity, the share capital and reserves remained stable, with the share premium and merger reserve unchanged from 2024. However, the accumulated deficit increased significantly.

The cash flow from operating activities also deteriorated, with a net cash outflow of £3,287,000 compared to £26,894,000 in 2024. The net cash and cash equivalents at the end of the period decreased to £1,622,000 from £9,869,000.

These financial results reflect a challenging period for Beckley Psytech Limited, with increased operating expenses, a widened loss for the period, and a decrease in total assets and cash and cash equivalents. The company's financial position appears to have weakened compared to the same period in 2024. Following these announcements, the company's shares moved -2.33%, and are now trading at a price of $5.45. If you want to know more, read the company's complete 8-K report here.

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