<SEC-DOCUMENT>0001571049-15-006580.txt : 20150811
<SEC-HEADER>0001571049-15-006580.hdr.sgml : 20150811
<ACCEPTANCE-DATETIME>20150811160606
ACCESSION NUMBER:		0001571049-15-006580
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20150811
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150811
DATE AS OF CHANGE:		20150811

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Cyclacel Pharmaceuticals, Inc.
		CENTRAL INDEX KEY:			0001130166
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				911766850
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-50626
		FILM NUMBER:		151043948

	BUSINESS ADDRESS:	
		STREET 1:		200 CONNELL DRIVE
		STREET 2:		SUITE 1500
		CITY:			BERKELEY HEIGHTS
		STATE:			NJ
		ZIP:			07922
		BUSINESS PHONE:		908-517-7330

	MAIL ADDRESS:	
		STREET 1:		200 CONNELL DRIVE
		STREET 2:		SUITE 1500
		CITY:			BERKELEY HEIGHTS
		STATE:			NJ
		ZIP:			07922

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	XCYTE THERAPIES INC
		DATE OF NAME CHANGE:	20001218
</SEC-HEADER>
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<TYPE>8-K
<SEQUENCE>1
<FILENAME>t1501868_8k.htm
<DESCRIPTION>FORM 8-K
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<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report (Date of earliest event
reported): August 11, 2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CYCLACEL PHARMACEUTICALS, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of registrant as specified
in its charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD NOWRAP STYLE="vertical-align: top; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: center; width: 2%">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>000-50626</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: center; width: 2%">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>91-1707622</B></FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(State or other jurisdiction</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of incorporation)</B></P></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><B>(Commission File Number)</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(IRS Employer</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Identification No.)</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>200 Connell
Drive, Suite 1500</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Berkeley Heights, NJ 07922 </B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>(Address of principal executive offices and zip code)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Registrant&rsquo;s telephone number,
including area code: (908) 517-7330</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Former Name or Former Address, if Changed
Since Last Report)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<I>see </I>General
Instruction A.2. below): </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD><B>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</B></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD><B>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</B></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD><B>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-indent: -0.2in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD><B>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-indent: -0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-indent: -0.2in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 2.02 Results of Operations and Financial Condition.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The information set forth under this &ldquo;Item
2.02. Results of Operations and Financial Condition,&rdquo; including the exhibits attached hereto, shall not be deemed &ldquo;filed&rdquo;
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference
into any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such
filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Attached as Exhibit 99.1 is a copy of a
press release of Cyclacel Pharmaceuticals, Inc. (the &ldquo;<B>Company</B>&rdquo;), dated August 11, 2015, announcing certain financial
results for the second quarter ended June 30, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company will conduct a conference call
to review its financial results on August 11, 2015, at 4:30 p.m., Eastern Time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Form 8-K contains certain forward-looking
statements that involve risks and uncertainties that could cause actual results to be materially different from historical results
or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include statements
regarding, among other things, the efficacy, safety and intended utilization of Cyclacel&rsquo;s product candidates, the conduct
and results of future clinical trials, plans regarding regulatory filings, future research and clinical trials and plans regarding
partnering activities. Factors that may cause actual results to differ materially include the risk that product candidates that
appeared promising in early research and clinical trials do not demonstrate safety and/or efficacy in larger-scale or later clinical
trials, trials may have difficulty enrolling, Cyclacel may not obtain approval to market its product candidates, the risks associated
with reliance on outside financing to meet capital requirements, and the risks associated with reliance on collaborative partners
for further clinical trials, development and commercialization of product candidates. You are urged to consider statements that
include the words &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;would,&rdquo; &ldquo;could,&rdquo; &ldquo;should,&rdquo; &ldquo;believes,&rdquo;
&ldquo;estimates,&rdquo; &ldquo;projects,&rdquo; &ldquo;potential,&rdquo; &ldquo;expects,&rdquo; &ldquo;plans,&rdquo; &ldquo;anticipates,&rdquo;
&ldquo;intends,&rdquo; &ldquo;continues,&rdquo; &ldquo;forecast,&rdquo; &ldquo;designed,&rdquo; &ldquo;goal,&rdquo; or the negative
of those words or other comparable words to be uncertain and forward-looking. For a further list and description of the risks and
uncertainties the Company faces, please refer to our most recent Annual Report on Form 10-K and other periodic and other filings
we file with the Securities and Exchange Commission and are available at www.sec.gov. Such forward-looking statements are current
only as of the date they are made, and we assume no obligation to update any forward-looking statements, whether as a result of
new information, future events or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01 Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d) Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 10%; border-bottom: black 1pt solid; font-size: 8pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Exhibit</B></FONT><BR>
<FONT STYLE="font-size: 8pt"><B>Number</B></FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 89%; border-bottom: black 1pt solid; font-size: 8pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Description</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Press release announcing financial results for the second quarter ended June 30, 2015, dated August 11, 2015.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>CYCLACEL PHARMACEUTICALS, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Paul McBarron</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Paul McBarron</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Executive Vice President&mdash;Finance,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Financial Officer and Chief Operating Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: August 11, 2015</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right; background-color: white"><B>Exhibit 99.1</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: middle"><font style="font: 10pt Arial, Helvetica, Sans-Serif"><img src="logo99-1a.jpg"></font></td>
    <TD STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: middle"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Cyclacel Pharmaceuticals, Inc.</font></td></tr>
</table>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; background-color: white"><img src="logo99-1b.jpg"></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; background-color: white"><B>Cyclacel Pharmaceuticals
Reports Second Quarter 2015 Financial Results</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><I>&nbsp;</I></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; background-color: white"><I>Conference
Call Scheduled August 11, 2015 at 4:30 p.m. EDT</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">BERKELEY HEIGHTS, N.J., Aug. 11, 2015
- Cyclacel Pharmaceuticals, Inc. (Nasdaq: CYCC) (Nasdaq: CYCCP) (&quot;Cyclacel&quot; or the &quot;Company&quot;), a biopharmaceutical
company developing oral therapies that target the various phases of cell cycle control for the treatment of cancer and other serious
disorders, today reported its financial results and business highlights for the second quarter ended June 30, 2015.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">The Company's net loss applicable
to common shareholders for the second quarter ended June 30, 2015 was $3.4 million, or $0.10 per basic and diluted share, compared
to a net loss income applicable to common shareholders of $4.9 million, or $0.22 per basic and diluted share for the second quarter
ended June 30, 2014. As of June 30, 2015, cash and cash equivalents totaled $26.9 million.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">&quot;SEAMLESS continues to progress
towards final data read-out,&rdquo; said Spiro Rombotis, President and Chief Executive Officer of Cyclacel. &ldquo;There are now
approximately 13% of events remaining to occur and we expect to report top-line data during the second half of 2015 through the
first half of 2016. Following unblinding and analysis of the SEAMLESS data, we will determine their suitability for submission
to regulators in the U.S. and Europe. Additionally, in the Phase 1 study of our all-oral combination of sapacitabine with our first-generation
CDK2/9 inhibitor, seliciclib, we reported updated data in heavily pretreated cancer patients with BRCA mutations. The data showed
a 55% overall response rate with patients achieving durable benefit after multiple cycles of therapy, including a breast cancer
patient who has received to date over 60 cycles. These promising data are encouraging us to explore this regimen further. Our next
generation CDK2/9 inhibitor, CYC065, received institutional review board approval for a first-in-human, Phase 1 study in advanced
solid tumors and we expect to start treating patients shortly. CYC065 has demonstrated increased potency compared to seliciclib.
Based on published preclinical efficacy data, we plan to develop CYC065 as a targeted anticancer agent in both hematological and
solid cancers. In addition to our focus on SEAMLESS, we have continued to make progress with our other programs, while ensuring
we have sufficient resources to deliver on our key milestones and execute on our business strategy.&quot;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white"><B>Business Highlights</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white"><B><I>Sapacitabine in SEAMLESS, pivotal,
Phase 3 study for first-line treatment in elderly patients with acute myeloid leukemia (AML): </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Continued to follow-up patients as 13%
of events remain to occur before analyzing the data and reporting top-line results. The SEAMLESS study is powered at 90% to detect
a 27.5% improvement of survival between the experimental and control arms.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white"><B><I>Sapacitabine and seliciclib,
all-oral combination in Phase 1 study in patients with advanced solid tumors</I></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-weight: normal">&#183;</FONT></TD><TD><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-weight: normal">Observed an overall response rate of 55% in
breast, ovarian and pancreatic patients with BRCA mutations in updated data from this study of heavily pre-treated patients.</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Wingdings">&#254;</FONT></TD><TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">200 Connell Drive, Suite 1500, Berkeley Heights, NJ&nbsp;&nbsp;07922 USA&nbsp;&nbsp;T:
+1 (908) 517 7330 F: +1 (866) 271 3466</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Wingdings">&#168;</FONT></TD><TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Dundee Technopole, James Lindsay Place, Dundee, DD1 5JJ, UK Tel +44 1382
206 062 Fax +44 1382 206 067</FONT></TD></TR></TABLE>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><U>www.cyclacel.com</U>&nbsp;&nbsp;&ndash;&nbsp;&nbsp;<U>info@cyclacel.com</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white"><B><I>Cyclin Dependent Kinase (CDK)
Inhibitor Programs</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Received institutional review board approval to start a first-in-human
Phase 1 trial of CYC065, the Company&rsquo;s second generation CDK2/9 inhibitor, in solid tumor patients to evaluate the safety,
tolerability and pharmacokinetic profile of CYC065.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Presented preclinical data demonstrating therapeutic potential of
CYC065 as a targeted anticancer agent at the American Association for Cancer Research Annual Meeting 2015. The data show that CYC065
may reverse drug resistance associated with addiction of cancer cells to cyclin E, the partner protein of CDK2. CYC065 may also
inhibit CDK9-dependent oncogenic and leukemogenic pathways, including malignancies driven by certain oncogene and MLL rearrangements.
MLL gene status and levels of Bcl-2 family proteins correlated with sensitivity of AML cell lines to CYC065. CYC065&rsquo;s anticancer
activity presents an opportunity for patient stratification and combinations with anti-leukemic agents. CYC065 was also effective
against uterine cancer cells including those resistant to chemotherapy and was especially potent in uterine cancer cells in which
cyclin E was amplified or overexpressed.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Entered into a license and supply agreement with ManRos Therapeutics
regarding the development of seliciclib, the Company&rsquo;s first generation CDK inhibitor, in cystic fibrosis.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Dosed first patient in Phase 2 investigator sponsored trial (IST)
evaluating seliciclib as a potential treatment for Cushing&rsquo;s disease.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white"><B><I>Other Events</I></B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD><FONT STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">Entered into a Controlled Equity Offering</FONT><FONT STYLE="font-size: 10pt"><SUP>
<FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">SM</FONT></SUP></FONT><FONT STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">
Sales Agreement with Cantor Fitzgerald &amp; Co., as sales agent (&ldquo;Cantor&rdquo;), under which the Company may, from time
to time, sell shares of its common stock having an aggregate offering price of up to $8.35 million through Cantor.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD><FONT STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">Transferred the listing of the Company&rsquo;s common stock from the
NASDAQ Global Market to the NASDAQ Capital Market effective at the opening of business on August 6, 2015. The Company&rsquo;s common
stock will continue to trade under the symbol &ldquo;CYCC.&rdquo; The Company currently meets the NASDAQ Capital Market initial
listing criteria, except for the bid price requirement. With the transfer to the NASDAQ Capital Market, the Company is being afforded
an additional 180-day grace period to regain compliance with NASDAQ&rsquo;s minimum bid price requirement of a stock price of at
least $1.00 for at least ten consecutive business days during this grace period ending on February 2, 2016 or be delisted.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white"><B>Second Quarter 2015 Financial Results</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white"><B><I>Grant Revenue</I></B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">Revenue for the three months ended
June 30, 2015, was $0.3 million compared to $0.4 million for the same period of the previous year. The revenue is related to grants
from the European Union and the Biomedical Catalyst of the United Kingdom government.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white"><B><I>Research and Development Expenses</I></B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">Research and development expenses
were $2.6 million for the three months ended June 30, 2015, compared to $4.5 million for the same period in the previous year.
The decrease was primarily a result of reduced expenditure in the SEAMLESS Phase 3 study this quarter compared to the same period
last year.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white"><B><I>General and Administrative Expenses</I></B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">General and administrative expenses
for the three months ended June 30, 2015 remained relatively flat at $1.3 million compared to $1.4 million for the same period
in 2014.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">&nbsp;</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white"><B>Conference call and Webcast Information:</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">Cyclacel will conduct a conference
call on August 11, 2015 at 4:30 p.m. Eastern Time to review the second quarter 2015 results. Conference call and webcast details
are as follows:</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">Conference call information:</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">US/Canada call: (877) 493-9121/ international call: (973)
582-2750</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">US/Canada archive: (800) 585-8367 / international archive:
(404) 537-3406</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">Code for live and archived conference call is 95466148</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">For the live and archived webcast,
please visit the Corporate Presentations and Events page on the Cyclacel website at <U>www.cyclacel.com</U>. The webcast will be
archived for 90 days and the audio replay for 7 days.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white"><B>About Cyclacel Pharmaceuticals,
Inc.</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">Cyclacel is a biopharmaceutical company
developing oral therapies that target the various phases of cell cycle control for the treatment of cancer and other serious diseases.
Sapacitabine, Cyclacel's most advanced product candidate, is the subject of SEAMLESS, a Phase 3 trial being conducted under an
SPA with the FDA as front-line treatment for acute myeloid leukemia (AML) in the elderly, and other studies for myelodysplastic
syndromes (MDS), chronic lymphocytic leukemia (CLL) and solid tumors including breast, lung, ovarian and pancreatic cancer and
in particular those patients carrying BRCA mutations. Cyclacel's strategy is to build a diversified biopharmaceutical business
focused in hematology and oncology based on a development pipeline of novel drug candidates. Please visit <U>www.cyclacel.com
</U>for additional information.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white"><B>Forward-looking Statements</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">This news release contains certain
forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from
historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements
include statements regarding, among other things, the efficacy, safety and intended utilization of Cyclacel's product candidates,
the conduct and results of future clinical trials, plans regarding regulatory filings, future research and clinical trials and
plans regarding partnering activities. Factors that may cause actual results to differ materially include the risk that product
candidates that appeared promising in early research and clinical trials do not demonstrate safety and/or efficacy in larger-scale
or later clinical trials, trials may have difficulty enrolling, Cyclacel may not obtain approval to market its product candidates,
the risks associated with reliance on outside financing to meet capital requirements, and the risks associated with reliance on
collaborative partners for further clinical trials, development and commercialization of product candidates. You are urged to consider
statements that include the words &quot;may,&quot; &quot;will,&quot; &quot;would,&quot; &quot;could,&quot; &quot;should,&quot;
&quot;believes,&quot; &quot;estimates,&quot; &quot;projects,&quot; &quot;potential,&quot; &quot;expects,&quot; &quot;plans,&quot;
&quot;anticipates,&quot; &quot;intends,&quot; &quot;continues,&quot; &quot;forecast,&quot; &quot;designed,&quot; &quot;goal,&quot;
or the negative of those words or other comparable words to be uncertain and forward-looking. For a further list and description
of the risks and uncertainties the Company faces, please refer to our most recent Annual Report on Form 10-K and other periodic
and other filings we file with the Securities and Exchange Commission and are available at <U>www.sec.gov</U>. Such forward-looking
statements are current only as of the date they are made, and we assume no obligation to update any forward-looking statements,
whether as a result of new information, future events or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>CYCLACEL PHARMACEUTICALS,&nbsp;INC.</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>CONSOLIDATED STATEMENTS OF OPERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>(In $000s, except share and per share
amounts)</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>(Unaudited)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><b>Three&nbsp;Months&nbsp;Ended</b></P> <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><b>June 30,</b></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font: 8pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD><TD NOWRAP STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><b>Six&nbsp;Months&nbsp;Ended</b></P> <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><b>June 30,</b></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font: 8pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid"><font style="font: 8pt Calibri, Helvetica, Sans-Serif"><b>2014</b></font></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font: 8pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD><TD NOWRAP STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid"><font style="font: 8pt Calibri, Helvetica, Sans-Serif"><b>2015</b></font></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font: 8pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD><TD NOWRAP STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid"><font style="font: 8pt Calibri, Helvetica, Sans-Serif"><b>2014</b></font></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font: 8pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD><TD NOWRAP STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid"><font style="font: 8pt Calibri, Helvetica, Sans-Serif"><b>2015</b></font></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font: 8pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-indent: -0.1in; padding-left: 0.1in"><font style="font: 10pt Calibri, Helvetica, Sans-Serif"><b>Revenues:</b></font></TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 48%; font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Grant revenue</TD><TD STYLE="width: 1%; font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">356</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">296</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">752</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">808</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in"><font style="font: 10pt Calibri, Helvetica, Sans-Serif"><b>Total revenues</b></font></TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">356</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">296</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">752</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">808</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in"><font style="font: 10pt Calibri, Helvetica, Sans-Serif"><b>Operating expenses:</b></font></TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Research and development</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">4,545</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">2,580</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">8,889</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">6,922</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">General and administrative</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">1,386</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">1,333</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">2,848</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">2,801</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in"><font style="font: 10pt Calibri, Helvetica, Sans-Serif"><b>Total operating expenses</b></font></TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">5,931</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">3,913</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">11,737</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">9,723</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in"><font style="font: 10pt Calibri, Helvetica, Sans-Serif"><b>Operating loss</b></font></TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(5,575</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(3,617</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(10,985</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(8,915</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Other income (expense):</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Change in valuation of financial instruments associated with stock purchase agreement</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(64</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(4</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(111</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(24</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Change in valuation of liabilities measured at fair value</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">20</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">&mdash;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">20</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">&mdash;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Foreign exchange losses</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(43</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(195</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(33</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(573</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Interest income</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">1</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">2</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">2</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">3</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Other income, net</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">26</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">62</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">26</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">82</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Total other expense</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(60</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(135</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(96</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(512</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in"><font style="font: 10pt Calibri, Helvetica, Sans-Serif"><b>Loss from continuing operations before taxes</b></font></TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(5,635</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(3,752</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(11,081</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(9,427</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Income tax benefit</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">816</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">405</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">1,385</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">1,168</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in"><font style="font: 10pt Calibri, Helvetica, Sans-Serif"><b>Net loss from continuing operations</b></font></TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(4,819</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(3,347</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(9,696</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(8,259</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in"><font style="font: 10pt Calibri, Helvetica, Sans-Serif"><b>Discontinued operations:</b></font></TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Income from discontinued operations</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">10</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">&mdash;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">23</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">&mdash;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Income tax on discontinued operations</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(3</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(8</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in"><font style="font: 10pt Calibri, Helvetica, Sans-Serif"><b>Net income from discontinued operations</b></font></TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">7</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">15</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in"><font style="font: 10pt Calibri, Helvetica, Sans-Serif"><b>Net loss</b></font></TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(4,812</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(3,347</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(9,681</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(8,259</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Dividend on convertible exchangeable preferred shares</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(50</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(50</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(100</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(100</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 0.1in"><font style="font: 10pt Calibri, Helvetica, Sans-Serif"><b>Net loss applicable to common shareholders</b></font></TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(4,862</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(3,397</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(9,781</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(8,359</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in"><font style="font: 10pt Calibri, Helvetica, Sans-Serif"><b>Basic and diluted earnings per common share:</b></font></TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 0.1in">Net loss per share, continuing operations&thinsp;&ndash;&thinsp;basic and diluted</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(0.22</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(0.10</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(0.47</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(0.28</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 0.1in">Net income per share, discontinued operations&thinsp;&ndash;&thinsp;basic and diluted</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">0.00</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">0.00</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">0.00</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">0.00</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 0.1in">Net loss per share&thinsp;&ndash;&thinsp;basic and diluted</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(0.22</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(0.10</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(0.46</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(0.28</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 0.1in">Weighted average common shares outstanding</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">22,582,283</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">34,388,486</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">21,064,739</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">30,250,769</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CYCLACEL PHARMACEUTICALS, INC.</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CONSOLIDATED BALANCE SHEETS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(In $000s, except share, per share,
and liquidation preference amounts) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font: 8pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; text-align: center"><font style="font: 8pt Calibri, Helvetica, Sans-Serif"><b>December 31,</b></font></TD><TD STYLE="font: 8pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="font: 8pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; text-align: center"><font style="font: 8pt Calibri, Helvetica, Sans-Serif"><b>June 30,</b></font></TD><TD STYLE="font: 8pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid"><font style="font: 8pt Calibri, Helvetica, Sans-Serif"><b>2014</b></font></TD><TD STYLE="padding-bottom: 1pt; font: 8pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD><TD STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid"><font style="font: 8pt Calibri, Helvetica, Sans-Serif"><b>2015</b></font></TD><TD STYLE="padding-bottom: 1pt; font: 8pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 12pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 12pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 12pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font: 8pt Calibri, Helvetica, Sans-Serif"><B>(Unaudited)</B></FONT></TD><TD STYLE="font: 8pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-indent: -0.1in; padding-left: 0.1in"><font style="font: 10pt Calibri, Helvetica, Sans-Serif"><b>ASSETS</b></font></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Current assets:</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Cash and cash equivalents</TD><TD STYLE="width: 1%; font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 10%; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">24,189</TD><TD STYLE="width: 1%; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="width: 10%; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">26,902</TD><TD STYLE="width: 1%; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Prepaid expenses and other current assets</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">4,640</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">3,453</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 16.2pt">Current assets of discontinued operations</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">171</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">124</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.35in">Total current assets</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">29,000</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">30,479</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Property, plant and equipment (net)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">387</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">309</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 0.35in">Total assets</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">29,387</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">30,788</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in"><font style="font: 10pt Calibri, Helvetica, Sans-Serif"><b>LIABILITIES AND STOCKHOLDERS&rsquo; EQUITY</b></font></TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Current liabilities:</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Accounts payable</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">2,792</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">2,609</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Accrued and other current liabilities</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">4,626</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">3,806</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 16.2pt">Current liabilities of discontinued operations</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">75</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">75</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.35in">Total current liabilities</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">7,493</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">6,490</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Other liabilities</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">206</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">198</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.35in">Total liabilities</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">7,699</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">6,688</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Commitments and contingencies</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Stockholders&rsquo; equity:</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Preferred stock, $0.001 par value; 5,000,000 shares authorized at December&nbsp;31, 2014 and June 30, 2015; 335,273 shares issued and outstanding at December&nbsp;31, 2014 and June 30, 2015. Aggregate preference in liquidation of $3,989,749 at December&nbsp;31, 2014 and June 30, 2015.</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">&mdash;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">&mdash;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Common stock, $0.001 par value; 100,000,000 shares authorized at December&nbsp;31, 2014 and June 30, 2015; 23,199,469 and 34,388,486 shares issued and outstanding at December&nbsp;31, 2014 and June 30, 2015, respectively.</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">23</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">34</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Additional paid-in capital</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">330,962</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">341,530</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Accumulated other comprehensive loss</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(480</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(388</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Accumulated deficit</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(308,817</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">(317,076</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.35in">Total stockholders&rsquo; equity</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">21,688</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">24,100</TD><TD STYLE="padding-bottom: 1pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; text-align: left; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 0.35in">Total liabilities and stockholders&rsquo; equity</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">29,387</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Calibri, Helvetica, Sans-Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Calibri, Helvetica, Sans-Serif; text-align: right">30,788</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Calibri, Helvetica, Sans-Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0"><B>Source: Cyclacel Pharmaceuticals, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">Contacts for Cyclacel Pharmaceuticals,
Inc.</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">Company: Paul McBarron, (908) 517-7330,
pmcbarron@cyclacel.com</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white">Investor Relations: Russo Partners
LLC, Robert Flamm, (212) 845-4226, robert.flamm@russopartnersllc.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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