Kua Khai Loon Sells 19,054 Shares of Cyclacel Pharmaceuticals for $7.01/Share

Cyclacel Pharmaceuticals, Inc. (CYCC) has reported that Kua Khai Loon, a 10% owner of the company, has disposed of 19,054 shares at a price of $7.01 per share on September 5, 2023.

Cyclacel Pharmaceuticals, Inc. (CYCC), a micro-cap biotech company listed on the Nasdaq Capital Market, has experienced significant shareholder activity in recent months. The company reported that Kua Khai Loon, a 10% owner, disposed of 19,054 shares at a price of $7.01 per share on September 5, 2023 [^NUMBER:1]. This sale comes amidst a period of shareholder approvals and significant corporate changes.

At a special meeting held on September 7, 2023, Cyclacel's shareholders approved several proposals. The first proposal authorized the issuance of common stock to Fitters Parent, receiving 1,095,988 votes in favor, representing 58.8% of shares voted [^NUMBER:1]. A second proposal, approving the potential issuance of over 20% of the company’s outstanding common stock to comply with Nasdaq Listing Rule 5635(a), also passed with 1,095,986 votes in favor [^NUMBER:1]. Additionally, shareholders approved an amendment to change the corporate name to Bio Green Med Solution, Inc., with 1,097,489 votes for the measure [^NUMBER:1].

These approvals come as Cyclacel continues to navigate its financial landscape. The company recently filed an 8-K report with the Securities and Exchange Commission, submitting audited consolidated financial statements for the quarter ending March 31, 2025 [^NUMBER:1]. Furthermore, Cyclacel appointed SFAI Malaysia PLT as its new auditor following the dismissal of Bush & Associates CPA LLP, with the change approved by the Audit Committee [^NUMBER:1]. The company also held its 2025 annual meeting of shareholders, where five directors were re-elected and shareholders approved changes to the company’s equity plan [^NUMBER:1].

Investors should closely monitor Cyclacel’s financial health and corporate developments, as the company continues to undergo significant changes. With a market capitalization of $15.41 million and a current ratio of 5.77, Cyclacel faces challenges but also presents opportunities for investors willing to navigate its complex landscape [^NUMBER:1].