Beckley Psytech Limited has released its interim unaudited condensed consolidated financial statements for the six months ended June 30, 2025, and the comparisons with the same period in 2024 reveal several key changes.
In terms of the company's operating expenses, the general and administrative expenses increased from £4,182,000 in 2024 to £5,219,000 in 2025. Similarly, the research and development expenses decreased from £11,988,000 in 2024 to £11,406,000 in 2025. However, the loss on contingent consideration saw a significant increase from £3,105,000 in 2024 to £14,121,000 in 2025, leading to an overall increase in the operating loss from £19,275,000 in 2024 to £30,746,000 in 2025.
Moving on to the financial position, the total non-current assets increased slightly from £50,472,000 in 2024 to £50,840,000 in 2025. However, the current assets decreased from £25,751,000 in 2024 to £11,392,000 in 2025, contributing to a decrease in total assets from £76,223,000 in 2024 to £62,232,000 in 2025.
The total liabilities saw an increase from £17,190,000 in 2024 to £23,131,000 in 2025. This resulted in a decrease in net assets from £59,033,000 in 2024 to £39,101,000 in 2025. Specifically, the accumulated deficit increased from £68,226,000 in 2024 to £87,991,000 in 2025.
Furthermore, the cash and cash equivalents at the end of the period decreased from £9,869,000 in 2024 to £1,622,000 in 2025. This decrease in cash and cash equivalents is also reflected in the net cash used in operating activities, which decreased from £26,894,000 in 2024 to £3,287,000 in 2025.
The market has reacted to these announcements by moving the company's shares -6.42% to a price of $5.10. For more information, read the company's full 8-K submission here.
