Oxford Cannabinoid Technologies (OCTH) investor relations material

Executive summary

• Completed first Phase I clinical trial for lead candidate OCT461201, targeting neuropathic pain, with positive safety and pharmacokinetic results; next steps include multiple ascending dose and Phase II studies.

• Strategic decision to delist from the London Stock Exchange to pursue private sector funding due to challenging UK public markets and undervaluation concerns.

• Expanded patent portfolio with new grants and applications across multiple jurisdictions; robust pipeline with four core drug programmes, including new oncology focus.

• Maintained a remote-first work model, reducing costs and environmental impact, and continued strong emphasis on corporate governance and risk management.

Financial highlights

• Research costs decreased to £1,306k (from £4,304k), mainly for OCT461201 Phase I trial; operational costs slightly increased to £2,748k.

• Loss for the period was £3,826k, improved from £5,945k year-over-year; basic and diluted loss per share was 0.380p (2023: 0.619p).

• Cash reserves at 30 June 2024 were £798k (down from £2,297k); cash runway forecast to be fully utilised by April 2025.

• R&D tax credit of £379k received; cash absorbed by operations was £4,101k (2023: £7,042k).

• 128 million new shares issued in January 2024, raising £640k gross.

Outlook and guidance

• Focus remains on advancing OCT461201 through remaining Phase I and into Phase II, and preparing OCT130401 for clinical entry, subject to fundraising.

• Pipeline includes nearly 500 proprietary cannabinoid derivatives, with ongoing preclinical and candidate selection work for pain and oncology indications.

• Financial sustainability depends on successful fundraising within the next four months; Board confident but acknowledges material uncertainty.