Cyclacel Pharmaceuticals, Inc. (CYCC): History, Ownership, Mission, How It Works & Makes Money

Cyclacel Pharmaceuticals, Inc. (CYCC) has been a volatile biotech player, but with a major strategic pivot in 2025, are you clear on what the company actually is now?

While the Q2 2025 financial results showed a reduced net loss of $1.3 million and a cash position of $4.3 million as of June 30, 2025, the real story is the recent acquisition of FITTERS Sdn. Bhd., which completely changes their revenue model.

This is no longer just a clinical-stage oncology firm focused on plogosertib; it's a newly diversified entity now also in the fire safety business, and understanding this dual-industry structure is defintely critical to valuing the stock, which was trading around $6.37 on November 14, 2025.

Cyclacel Pharmaceuticals, Inc. (CYCC) History

You're looking for the origin story of Cyclacel Pharmaceuticals, Inc., and honestly, it's a classic biotech tale of big science, high hopes, and a recent, dramatic pivot. The direct takeaway is this: the company began as a UK-US academic spin-out in the mid-90s, but its modern form is defined by a 2025 change of control and a laser-focus on a single drug candidate, plogosertib, after a major corporate restructuring.

Given Company's Founding Timeline

The company was born from world-class cancer research, which is defintely the best foundation you can ask for in this sector. It started with a focus on cell cycle control-the mechanism that dictates when cells divide-as a way to selectively kill cancer cells.

Year established

1996

Original location

The company began with a dual footprint, a strategy that reflected its academic roots: Dundee, Scotland, and Short Hills, New Jersey, U.S.. Today, the headquarters is in Berkeley Heights, New Jersey, U.S..

Founding team members

The core founding entity was Sir David Lane, a recognized leader who discovered the p53 tumor suppressor protein. The initial collaboration was a powerhouse of academic and commercial entities:

• Sir David Lane (Founder)
• Merlin Ventures
• Cancer Research Campaign Technology
• University of Dundee
• University of Glasgow

David Glover, another leader in cell division biology, joined the team in 1999.

Initial capital/funding

The company was a private equity darling early on, raising over $100 million in private capital before attempting a stock market listing in 2004. After a reverse merger in 2005, it raised an additional $45 million in April 2006 through a private placement of stock and warrants to fund its clinical programs.

Given Company's Evolution Milestones

The company's history is a roadmap of clinical advancement, followed by a necessary, hard-nosed financial retrenchment in 2025. Here's the quick math on that: the net loss for Q2 2025 was $1.3 million, a significant improvement from the $3.3 million loss in Q2 2024, showing the impact of recent cost-cutting.

Given Company's Transformative Moments

The company's trajectory was fundamentally altered by two major events: the 2017 Phase 3 failure and the 2025 corporate overhaul. To be fair, the first event set the stage for the second.

The 2025 restructuring was a clean break, driven by the need to preserve cash. As of June 30, 2025, cash and cash equivalents totaled just $4.3 million, and the company estimated this would only fund planned expenditure into the fourth quarter of 2025. This forced a clear action plan:

• Liquidation of UK Subsidiary: The January 2025 liquidation of Cyclacel Limited ceased the transcriptional regulation program and cut research and development expenses to $0.1 million in Q2 2025, down from $2.0 million in Q2 2024.
• Strategic Asset Repurchase: The company repurchased certain assets related to plogosertib for approximately $0.3 million in March 2025, cementing its new, sole focus on this PLK1 inhibitor.
• Financial Deconsolidation: The deconsolidation of the UK subsidiary resulted in a notable gain, increasing stockholder equity by approximately $5.0 million in Q1 2025.

This is a company that has cut the fat and is now betting everything on one horse: plogosertib. For a deeper dive into the numbers that underpin this high-stakes strategy, you should check out Breaking Down Cyclacel Pharmaceuticals, Inc. (CYCC) Financial Health: Key Insights for Investors. Your next concrete step is to model the plogosertib clinical trial timeline against the current cash burn rate to assess runway risk.

Cyclacel Pharmaceuticals, Inc. (CYCC) Ownership Structure

Cyclacel Pharmaceuticals, Inc. (CYCC) is a publicly traded entity on the NASDAQ Stock Exchange, but it operates under a highly concentrated ownership structure following a major change in control in February 2025.

The company is no longer governed by a widely dispersed shareholder base; instead, its direction is steered by a single controlling strategic investor and a key corporate partner, which together hold nearly 90% of the outstanding common stock.

Cyclacel Pharmaceuticals, Inc.'s Current Status

As of November 2025, Cyclacel Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company that has strategically diversified its business. It trades on the NASDAQ Capital Market under the ticker CYCC, but also operates under the name Bio Green Med Solution, Inc. following a significant strategic move earlier in the year.

This shift included a reverse stock split (1-for-15) in July 2025, which reduced the total outstanding shares to approximately 1,583,965. The company's focus has narrowed to the development of its lead oncology asset, plogosertib, while simultaneously integrating a new business line in fire protection and safety equipment through an acquisition. This is a huge pivot for a biotech firm, but it was necessary to inject capital and stabilize operations.

The financials reflect this transition: cash and cash equivalents totaled $4.3 million as of June 30, 2025, and the net loss for the second quarter of 2025 was reduced to $1.3 million, down from $3.3 million in the same period a year prior. The market capitalization as of November 2025 is a modest $3.23 million.

Cyclacel Pharmaceuticals, Inc.'s Ownership Breakdown

The ownership structure is dominated by a single individual and a corporate strategic partner, leaving a very small public float (the number of shares available for trading). This concentration of power means the company's strategic decisions are largely dictated by the top two stakeholders, so you need to pay close attention to their long-term vision. The removal of ownership limitations on preferred stock in February 2025 paved the way for this dramatic shift in control.

Honestly, with only 76 shares held by institutional investors as of September 2025, the stock is defintely illiquid and highly susceptible to volatility. You're essentially trading a stock where the vast majority of shares are locked up with strategic partners.

Cyclacel Pharmaceuticals, Inc.'s Leadership

The company underwent a significant leadership overhaul in February 2025, coinciding with the change in control. The new team, which was re-elected in June 2025, reflects the company's new strategic direction, blending biopharmaceutical expertise with diversified business management.

• Datuk Dr. Doris Wong Sing Ee: Chief Executive Officer (CEO) and Executive Director. She is the new controlling shareholder and drives the diversified strategy.
• Kiu Cu Seng: Chief Financial Officer (CFO) and Executive Director. He brings significant accounting and audit experience, crucial for managing the newly diversified public company.
• Kwang Fock Chong: Director (Independent).
• Dr. Satis Waran Nair Krishnan: Director.
• Inigo Angel Laurduraj: Director.

This leadership structure is highly centralized, which can mean fast decision-making, but it also elevates key-person risk. For a deeper dive into the company's long-term goals, you should review their articulated strategy: Mission Statement, Vision, & Core Values of Cyclacel Pharmaceuticals, Inc. (CYCC).

Cyclacel Pharmaceuticals, Inc. (CYCC) Mission and Values

The company, now Bio Green Med Solution, Inc. (formerly Cyclacel Pharmaceuticals, Inc.), has shifted its core purpose from a pure-play biopharma focus to a diversified business model, aiming to create sustainable growth across multiple sectors. This evolution means the mission is now centered on value creation for stakeholders through a resilient portfolio, not solely on cancer drug development.

Honestly, the company's recent strategic pivot-which included the acquisition of a fire protection business in September 2025-is the biggest factor defining its current values and vision. The old identity was about cell cycle biology; the new one is about disciplined diversification and financial stability, especially after regaining Nasdaq compliance in June 2025.

Given Company's Core Purpose

The core purpose of Cyclacel Pharmaceuticals, Inc. has evolved from a singular focus on oncology to a dual-industry approach. The company is now a clinical-stage biopharmaceutical entity working to develop innovative cancer medicines, plus a diversified company engaged in the fire protection industry. This dual focus is designed to drive long-term value creation for shareholders.

Here's the quick math on the shift: research and development (R&D) expenses dropped to only $0.1 million for the three months ended June 30, 2025, from $2.0 million in the same period of 2024, as the company focused its biopharma efforts exclusively on the plogosertib program after liquidating its UK subsidiary in January 2025. This focus on cost reduction and diversification is a clear action mapping to the new core purpose.

Official Mission Statement

While the formal mission statement for the new diversified entity is often embedded in its strategic goals, the foundational purpose is clear: to advance opportunities across distinct, high-potential sectors while maintaining a commitment to long-term shareholder value.

• Focus on developing innovative cancer medicines based on cell cycle, epigenetics, and mitosis biology.
• Build a diversified biopharmaceutical business based on a pipeline of novel drug candidates addressing oncology and hematology.
• Drive long-term value creation for shareholders through strategic diversification.

Vision Statement

The vision statement for Bio Green Med Solution, Inc. (formerly Cyclacel Pharmaceuticals, Inc.) emphasizes broad, positive impact and financial resilience, reflecting the integration of new business lines.

• Be a force for positive change in the markets served.
• Dedicated to creating a diverse and resilient business portfolio.
• Deliver sustainable growth and exceptional value for all stakeholders.

What this estimate hides is the inherent risk of managing two completely different industries-biopharma and fire safety-but the goal is clear: stability. The company's cash and cash equivalents totaled $4.3 million as of June 30, 2025, and this new vision is the roadmap for extending that runway beyond the estimated fourth quarter of 2025. You can find more details on this strategic shift here: Mission Statement, Vision, & Core Values of Cyclacel Pharmaceuticals, Inc. (CYCC).

Given Company slogan/tagline

The Company does not publicly use a short, market-facing slogan or tagline. Instead, its identity is communicated through its commitment to its core values and strategic focus.

• Built on a foundation of scientific integrity.
• Foster a culture of opportune growth and adaptive thinking.
• Empower exploration of new possibilities to drive positive, lasting value.

The core values defintely highlight the need for flexibility and scientific rigor as they navigate the volatile biotech space while integrating a new, stable revenue stream. The reverse stock split in July 2025, which reduced outstanding shares from 23,759,475 to 1,583,965, was a hard but necessary financial action to support this new, value-focused direction.

Cyclacel Pharmaceuticals, Inc. (CYCC) How It Works

Cyclacel Pharmaceuticals, Inc., now operating as Bio Green Med Solution, Inc., functions as a diversified holding company, balancing the high-risk, high-reward clinical development of a single oncology drug candidate with a newly acquired, revenue-generating fire safety and trading business.

This strategic pivot, finalized in 2025, shifts the company from a pure-play clinical-stage biopharma to a two-pronged entity, aiming to use the cash flow from the fire safety division to support the capital-intensive drug development of its biopharmaceuticals division.

Cyclacel Pharmaceuticals, Inc.'s Product/Service Portfolio

Cyclacel Pharmaceuticals, Inc.'s Operational Framework

The company's operations in late 2025 are split between two distinct, non-synergistic business models, which is defintely a unique setup for a NASDAQ-listed entity.

The Biopharmaceuticals division, which is the legacy Cyclacel Pharmaceuticals, Inc. business, has drastically cut its research and development (R&D) footprint. Following the liquidation of its UK subsidiary in January 2025, the focus is now solely on advancing plogosertib. Here's the quick math: R&D expenses dropped from $2.8 million in Q1 2024 to just $0.8 million in Q1 2025, and further to $0.1 million in Q2 2025, reflecting this razor-thin focus. This is a virtual research halt, concentrating resources only on the clinical trial and formulation work for plogosertib.

The Fire Safety division, through the acquisition of Fitters Sdn. Bhd., operates on a trading and supply-chain model. This division generates revenue by supplying and trading fire safety equipment, a much lower-margin but more predictable business. This new segment is intended to provide a financial lifeline, as the company's cash and cash equivalents of $4.3 million as of June 30, 2025, were projected to fund planned expenditure only into the fourth quarter of 2025.

• Streamline Biopharma: Focus R&D budget entirely on Plogosertib Phase 1 development.
• Acquire New Cash Flow: Integrate the Malaysian fire safety business to diversify revenue streams.
• Conserve Capital: Reduce overall operating costs to extend the cash runway.
• Maintain Compliance: Execute a 1-for-15 reverse stock split in July 2025 to meet NASDAQ's minimum bid price requirement.

You're essentially investing in two separate companies under one ticker, so you need to evaluate the fire safety business's stability against the biopharma's burn rate. Exploring Cyclacel Pharmaceuticals, Inc. (CYCC) Investor Profile: Who's Buying and Why?

Cyclacel Pharmaceuticals, Inc.'s Strategic Advantages

The company's strategic advantages are now a blend of its scientific foundation and its new corporate structure, providing a unique risk-mitigation profile for a micro-cap biotech.

• Targeted Oncology Expertise: The company retains deep, legacy expertise in cell cycle and anti-mitotic biology, which underpins the mechanism of action for plogosertib, a drug that targets Polo-like kinase 1 (PLK1), a key regulator of cell division.
• Financial Diversification: The acquisition of the fire safety business provides a non-dilutive source of potential operating cash flow, offering a buffer against the typical capital-raising cycles and clinical trial risks inherent in the biopharma sector.
• Lean R&D Model: By jettisoning the fadraciclib program and liquidating the UK subsidiary, the company has achieved a dramatically lower operating expense base, which is crucial for a company that reported a net loss of $1.3 million in Q2 2025.
• Potential for a Quick Exit/Pivot: The exploration of strategic alternatives, including a potential merger or acquisition, remains an explicit part of the strategy, suggesting a willingness to quickly monetize the remaining drug asset or the entire corporate shell if financing is not secured.

The biggest risk is that the fire safety revenue won't be enough to cover the burn rate, still forcing a difficult financing decision before plogosertib can deliver meaningful Phase 1 data.

Cyclacel Pharmaceuticals, Inc. (CYCC) How It Makes Money

Cyclacel Pharmaceuticals, Inc. is in a deep transition, shifting its business model from a clinical-stage biopharmaceutical company to an acquisition-led growth vehicle, with its only current operational revenue coming from a newly acquired fire safety distribution business in Malaysia. The core financial reality is that the legacy biotech operation, focused on developing cancer medicines, generates essentially $0 in product or collaboration revenue and is now primarily a cash-consuming entity while it seeks a strategic transaction or further financing.

Cyclacel Pharmaceuticals, Inc.'s Revenue Breakdown

The company's revenue profile has been completely inverted in 2025 due to the liquidation of its UK subsidiary and the September 2025 acquisition of Fitters Sdn. Bhd., a non-biotech entity. For the nine months ended September 30, 2025, the company's total pro forma revenue was approximately $1.4 million, almost entirely from the new operation.

The legacy revenue stream from clinical trial supply and collaboration, which was minimal in 2024, has effectively ceased in 2025. The new revenue, while small, is the only operational income, with the Fitters Sdn. Bhd. acquisition contributing $81 thousand in Q3 2025 alone. That's the entire business now, defintely a pivot.

Business Economics

The economic fundamentals have changed from a high-risk, high-reward biotech model to a low-revenue, high-overhead corporate shell model. The company's primary economic activity is now managing its cash burn and pursuing a strategic transaction, such as a merger or acquisition, to utilize its public listing status.

• R&D Cost Reduction: Research and Development (R&D) expenses were slashed by 85% year-over-year to just $0.9 million for the nine months ended September 30, 2025, which is a key move to eliminate the historical cash-burning engine.
• Soaring Overhead: General and Administrative (G&A) expenses, however, jumped 46% to $6.5 million for the same nine-month period, driven by one-time transaction costs, stock compensation, and higher insurance premiums related to the corporate restructuring.
• Pricing Strategy: The fire safety distribution business operates on a standard distribution margin model, which is a stark contrast to the massive, multi-billion-dollar potential of a successfully approved oncology drug.

The core problem is that the new, small revenue base cannot cover the high corporate overhead; the gap is too wide. The company is actively investigating ways to raise additional capital through private equity financing or a strategic transaction to survive.

Cyclacel Pharmaceuticals, Inc.'s Financial Performance

The financial performance as of the end of Q3 2025 confirms a precarious liquidity situation, despite accounting gains. The auditors have issued a 'going concern' opinion, meaning there is substantial doubt about the company's ability to continue operating for the next 12 months.

• Net Loss: The true operational net loss for the nine months ended September 30, 2025, was approximately $4.9 million, after backing out a non-cash $4.9 million gain from the deconsolidation of the UK subsidiary.
• Cash Runway: As of September 30, 2025, cash and cash equivalents totaled $3.8 million, which management estimates will only sustain operations into the first quarter of 2026.
• Total Operating Expenses: Total operating expenses for the nine months ended September 30, 2025, were $7.4 million, showing the high cost of maintaining the public company structure even after cutting R&D.
• Market Capitalization: The company's small size is reflected in its Nano Cap status, with a market capitalization of approximately $14.26 million USD.

The company's improved balance sheet liquidity, with total current assets rising to $6.4 million and current liabilities dropping to $1.0 million, is a positive, but it was largely achieved through financing and restructuring, not operational cash flow.

You need to understand this is a strategic pivot in progress, not a stable business. For a deeper dive into the risks and opportunities of this new model, you can read Breaking Down Cyclacel Pharmaceuticals, Inc. (CYCC) Financial Health: Key Insights for Investors.

Cyclacel Pharmaceuticals, Inc. (CYCC) Market Position & Future Outlook

Cyclacel Pharmaceuticals, Inc., now operating as Bio Green Med Solution, Inc. and diversified into fire safety equipment, is at a critical juncture, pivoting its biopharmaceutical focus entirely to its lead clinical-stage oncology asset, plogosertib. The company's future outlook is a high-risk, high-reward bet on the success of this single, targeted cancer therapy, which is currently generating negligible revenue-only $0.043 million in total revenue for the 2024 fiscal year-against a backdrop of significant financial maneuvers to maintain Nasdaq compliance and liquidity.

Competitive Landscape

In the oncology space, Cyclacel Pharmaceuticals, Inc.'s market position is defined by its pipeline progress, not current sales. The biopharma segment's revenue is minimal, placing its market share in the overall oncology drug market at effectively <0.01% compared to established players. The real competition lies in the race to bring the first- or best-in-class Polo-like Kinase 1 (PLK1) inhibitor to market and secure orphan drug indications for rare cancers like Fibrolamellar Carcinoma (FLC).

Opportunities & Challenges

You need to map the near-term path for a clinical-stage company with a new, diversified business model. The strategic acquisition of a fire safety business in 2025 fundamentally changes the risk profile, providing a potential non-biopharma revenue stream, but diluting the focus of the original oncology mission. Honestly, that's a massive distraction for a drug developer.

Industry Position

The biopharma segment of Bio Green Med Solution, Inc. is a micro-cap player in the global oncology market, which is valued at an estimated $356.20 billion in 2025. The company's core asset, plogosertib, is positioned in the niche, but high-growth, targeted therapy segment of the Biliary Tract Cancer market, which is projected to be worth $372.5 million in 2025. This positioning gives it a shot at a breakthrough, but the financial reality is stark.

• Niche Focus: Plogosertib is a precision medicine targeting specific molecular pathways (PLK1 inhibition) in rare cancers, avoiding the crowded markets of blockbuster drugs.
• Financial Instability: The company's need for a 15-for-1 reverse stock split in July 2025 to regain Nasdaq compliance highlights persistent financial and valuation challenges.
• Strategic Pivot: The shift to a diversified holding company model, following the liquidation of its UK subsidiary, is a survival strategy, not a growth one for the biopharma segment. You should defintely read more about this financial tightrope in Breaking Down Cyclacel Pharmaceuticals, Inc. (CYCC) Financial Health: Key Insights for Investors.

The stock's volatility, with a Q1 2025 net loss of only $0.1 million but a major reduction in R&D expenses to $0.8 million, reflects the market's reaction to cost-cutting and the single-asset focus. The company is a high-risk, binary-outcome investment: either plogosertib succeeds in trials, or the biopharma segment becomes a non-factor within the newly diversified entity.