Cyclacel pharmaceuticals announces receipt of $4.7 million r&d tax credit

Berkeley heights, n.j., may 03, 2023 (globe newswire) -- cyclacel pharmaceuticals, inc. (nasdaq: cycc, nasdaq: cyccp; "cyclacel" or the "company"), a biopharmaceutical company developing innovative medicines based on cancer cell biology, announced that it received a payment of £3.9 million ($4.7 million) as a research & development (r&d) tax credit from hmrc, the tax agency of the united kingdom government. the tax credit is for r&d costs incurred in the year ended december 31, 2022 and represents the amount disclosed in the company's audited financial statements at december 31, 2022.
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