TENPOINT THERAPEUTICS LIMITED

• ⚠

  Annual accounts overdue

  Due 2025-12-31.

• ⚠

  Material uncertainty over going concern

  At the date of the issuance of these financial statements, the Group and Company estimates that it has approximately 4 months of cash on hand and therefore it does not have sufficient funds for its operations for a period of 12 months from approval of the financial statements (the going concern period). The Company and Group are reliant on further funding from its parent entity Tenpoint Holding which in turn will need to raise further funding during the Going concern period in order to meet the cash requirements currently forecast required to meet the base case R&D activity and approval costs. The Company has received a letter of support from Tenpoint Holding which states that it will provide financial support to the Group and Company, to enable them to meet liabilities as and when they fall due for the going concern period. Tenpoint Holding is actively pursuing a Series B equity financing that it expects, together with the cash on hand, will fund the operations of the Combined Group for approximately 12 months... As of the date of issuance of these financial statements, the Series B financing has not been closed, FDA approval has not been received, and the post-approval funding has been initiated... which could impact its ability to provide financial support, and therefore they represent material uncertainties which cast significant doubt on the Group's and Company's ability to continue as a going concern.

1. TENPOINT THERAPEUTICS LIMITED 2020-11-25 → present
2. TENZING THERAPEUTICS LIMITED 2020-09-07 → 2020-11-25

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Ernst and Young

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“At the date of the issuance of these financial statements, the Group and Company estimates that it has approximately 4 months of cash on hand and therefore it does not have sufficient funds for its operations for a period of 12 months from approval of the financial statements (the going concern period). The Company and Group are reliant on further funding from its parent entity Tenpoint Holding which in turn will need to raise further funding during the Going concern period in order to meet the cash requirements currently forecast required to meet the base case R&D activity and approval costs. The Company has received a letter of support from Tenpoint Holding which states that it will provide financial support to the Group and Company, to enable them to meet liabilities as and when they fall due for the going concern period. Tenpoint Holding is actively pursuing a Series B equity financing that it expects, together with the cash on hand, will fund the operations of the Combined Group for approximately 12 months... As of the date of issuance of these financial statements, the Series B financing has not been closed, FDA approval has not been received, and the post-approval funding has been initiated... which could impact its ability to provide financial support, and therefore they represent material uncertainties which cast significant doubt on the Group's and Company's ability to continue as a going concern.”

Group structure

1. TENPOINT THERAPEUTICS LIMITED · parent
   1. Tenpoint Therapeutics GmBH 100% · Switzerland · Research and management services
   2. Gamut Cell Therapeutics SAS 100% · France · Research services
   3. Tenpoint Therapeutics Inc 100% · USA · Administrative support services

Significant events

• “Subsequent to year end, on 16 July 2024 the company completed an acquisition and merger of Visus Therapeutics, Inc.('Visus'), in an all-stock exchange transaction.”
• “As part of the acquisition, the group was restructured and Tenpoint Therapeutics Limited and Visus Therapeutics are wholly owned subsidiaries of a newly incorporated entity Tenpoint Therapeutics Holding Limited.”
• “On June 25, 2024, the group established a new parent company and controlling party, Tenpoint Therapeutics Holding Limited.”
• “On July 16, 2024, a merger with Visus Therapeutics, Inc. ("Visus") was completed at which time Tenpoint Therapeutics Ltd and Visus Therapeutics, Inc. became wholly owned subsidiaries of Tenpoint Therapeutics Holding Limited.”
• “In August 2024, Tenpoint Therapeutics Ltd underwent a restructuring exercise across its subsidiaries in United Kingdom, France and Switzerland. Laboratory operations in Basel, Switzerland were closed and as of October 2024, total group headcount for Tenpoint Therapeutics Ltd has been reduced to 11 employees.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  —

  Not reported

• Cash

  -22.1%

  £37,807,252 → £29,433,559

• Net assets

  -22.5%

  £43,442,178 → £33,685,223

• Employees

  +142.9%

  7 → 17

• Operating profit

  +2.4%

  -£10,827,875 → -£10,566,050

• Profit before tax

  +6%

  -£10,725,160 → -£10,083,705

• Wages

  +128.7%

  £1,326,482 → £3,033,129

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers