BEACON THERAPEUTICS LIMITED

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  Material uncertainty over going concern

  We draw attention to Note 1 in the financial statements, which indicates that the Company has sustained recurring net losses and is reliant on funding from Beacon Therapeutics Holdings Limited (the "Group"), which has a material uncertainty in relation to the going concern. Note 1 also details that the Group has sustained recurring net losses and is reliant on funding from investors. The Group has raised funding of $170m and received $110m as at April 2025. The remaining $60m is expected to be received in the fourth quarter of 2025 and is dependent on meeting future clinical milestones. The remaining funding is necessary for the Group to realise its assets and discharge its liabilities in the normal course of business during the going concern period and consequently provide financial support to the Company. As stated in Note 1, these events or conditions, along with the other matters as set forth in Note 1, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern.

1. BEACON THERAPEUTICS LIMITED 2023-06-01 → present
2. ALLIANCE HOLDCO LIMITED 2022-10-18 → 2023-06-01

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

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Grant Thornton UK LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to Note 1 in the financial statements, which indicates that the Company has sustained recurring net losses and is reliant on funding from Beacon Therapeutics Holdings Limited (the "Group"), which has a material uncertainty in relation to the going concern. Note 1 also details that the Group has sustained recurring net losses and is reliant on funding from investors. The Group has raised funding of $170m and received $110m as at April 2025. The remaining $60m is expected to be received in the fourth quarter of 2025 and is dependent on meeting future clinical milestones. The remaining funding is necessary for the Group to realise its assets and discharge its liabilities in the normal course of business during the going concern period and consequently provide financial support to the Company. As stated in Note 1, these events or conditions, along with the other matters as set forth in Note 1, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern.”

Group structure

1. BEACON THERAPEUTICS LIMITED · parent
   1. Beacon Therapeutics (USA), Inc. 100% · United States · Research and development

Significant events

• “On 3 July 2024, BTHL announced it had raised $170m in Series B Funding. $75m of this funding was received upon closing, $35m was recieved in April 2025 with the balance expected to be received in the fourth quarter of 2025.”

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

4

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.