<SEC-DOCUMENT>0001104659-24-005261.txt : 20240119
<SEC-HEADER>0001104659-24-005261.hdr.sgml : 20240119
<ACCEPTANCE-DATETIME>20240119165826
ACCESSION NUMBER:		0001104659-24-005261
CONFORMED SUBMISSION TYPE:	S-1
PUBLIC DOCUMENT COUNT:		9
FILED AS OF DATE:		20240119
DATE AS OF CHANGE:		20240119

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Cyclacel Pharmaceuticals, Inc.
		CENTRAL INDEX KEY:			0001130166
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		IRS NUMBER:				911766850
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-1
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-276623
		FILM NUMBER:		24546297

	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>
<DOCUMENT>
<TYPE>S-1
<SEQUENCE>1
<FILENAME>tm243656d1_s1.htm
<DESCRIPTION>FORM S-1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<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">As filed with the Securities and Exchange Commission
on January&nbsp;19, 2024</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Registration Statement No.&nbsp; 333-</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</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, DC 20549</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"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>FORM&nbsp;S</B></FONT>-<B>1</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; text-align: center"><B>REGISTRATION STATEMENT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES ACT OF 1933</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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<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,&nbsp;INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(<I>Exact Name of Registrant as Specified in Its
Charter)</I></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"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 38%; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 27%; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3826</B></FONT></TD>
    <TD STYLE="width: 35%; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>91-1707622</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or other</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">jurisdiction of incorporation or organization)</P></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Primary Standard Industrial</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Classification Code Number)</P></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(IRS Employer</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Identification No.)</P></TD></TR>
  </TABLE>
<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; text-align: center"><B>200 Connell Drive, Suite&nbsp;1500</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Berkeley Heights, NJ 07922</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(908) 517-7330</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">(Address, including zip
code, and telephone number, including area</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">code, of registrant&rsquo;s principal executive
offices)</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; text-align: center"><B>Spiro Rombotis</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>200 Connell Drive, Suite&nbsp;1500</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Berkeley Heights, NJ 07922</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(908) 517-7330</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name, address, including zip code, and telephone
number, including area code, of agent for service)</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"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<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; text-align: center"><B>Copies to:</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; text-align: center"><B>Joel I. Papernik,&nbsp;Esq.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Mintz, Levin, Cohn, Ferris, Glovsky and Popeo,
P.C.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>919 Third Avenue</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, NY 10022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(212) 935-3000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Approximate date of commencement of proposed
sale to the public:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">From time to time after this registration statement
becomes effective.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
any of the securities being registered on this Form&nbsp;are to be offered on a delayed or continuous basis pursuant to Rule&nbsp;415
under the Securities Act of 1933 check the following box. </FONT><FONT STYLE="font-family: Wingdings">&#120;</FONT></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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
this Form&nbsp;is filed to register additional securities for an offering pursuant to Rule&nbsp;462(b)&nbsp;under the Securities Act,
check the following box and list the Securities Act registration statement number of the earlier effective registration statement for
the same offering. </FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
this Form&nbsp;is a post-effective amendment filed pursuant to Rule&nbsp;462(c)&nbsp;under the Securities Act, check the following box
and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. </FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
this Form&nbsp;is a post-effective amendment filed pursuant to Rule&nbsp;462(d)&nbsp;under the Securities Act, check the following box
and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. </FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></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; text-align: justify; text-indent: 0.25in">Indicate by check mark whether
the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging
growth company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting
company,&rdquo; and &ldquo;emerging growth company&rdquo; in Rule&nbsp;12b-2 of the Exchange Act.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large accelerated filer</FONT></TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated filer</FONT></TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated filer</FONT></TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller reporting company</FONT></TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging growth company</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for </FONT>complying
with any new or revised financial accounting standards provided pursuant to Section&nbsp;7(a)(2)(B)&nbsp;of the Securities Act. <FONT STYLE="font-family: Wingdings">&#168;</FONT></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; text-align: justify; text-indent: 0.25in"><B>The registrant hereby
amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file
a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with section
8(a)&nbsp;of the Securities Act of 1933 or until the registration statement shall become effective on such date as the Securities and
Exchange Commission, acting pursuant to said section 8(a), may determine.</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"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<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"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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"></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Red"><B>THE INFORMATION IN
THIS PROSPECTUS IS NOT COMPLETE AND MAY&nbsp;BE CHANGED. THE SECURITY HOLDERS IDENTIFIED IN THIS PROSPECTUS MAY&nbsp;NOT SELL THESE SECURITIES
UNTIL THE REGISTRATION STATEMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION IS EFFECTIVE. THIS PROSPECTUS IS NOT AN OFFER TO SELL
THESE SECURITIES AND IS NOT SOLICITING AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE THE OFFER OR SALE IS NOT PERMITTED.</B></FONT></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; text-align: center; color: #ff4040"><B>SUBJECT TO COMPLETION, DATED
JANUARY 19, 2024</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; color: red"><B>PRELIMINARY PROSPECTUS</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; text-align: center"><IMG SRC="tm243656d1_s1img01.jpg" ALT="" STYLE="width: 250px; height: 73px"></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; text-align: center"><B>CYCLACEL PHARMACEUTICALS,&nbsp;INC.</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; text-align: center"><B>411,969 SHARES OF COMMON STOCK</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; text-align: center"><B>ISSUABLE UPON EXERCISE OF OUTSTANDING WARRANTS</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; text-align: justify; text-indent: 0.25in">This prospectus relates
to the proposed resale from time to time, by the selling security holders identified in this prospectus of up to 411,969 shares of Cyclacel
Pharmaceuticals,&nbsp;Inc. (the &ldquo;Company&rdquo;), common stock, $0.001 par value per share, which are issuable upon the exercise
of certain outstanding warrants.</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; text-align: justify; text-indent: 0.25in">These shares will be resold
from time to time by the entities or individuals listed in the section titled &ldquo;Selling Security Holders&rdquo; beginning on page&nbsp;8, which we refer to as the selling security holders or Selling Stockholders. The shares of common stock offered under this prospectus
by the selling security holders are issuable upon exercise of warrants (the &ldquo;Private Warrants&rdquo;) issued pursuant to the Securities
Purchase Agreement by and among the Company and the selling security holders, dated as of December&nbsp;21, 2023 (the &ldquo;Securities
Purchase Agreement&rdquo;) and warrants (the &ldquo;Placement Agent Warrants&rdquo;) issued pursuant to the Placement Agency Agreement
by and among the Company and Ladenburg Thalmann&nbsp;&amp; Co. Inc, dated as of December&nbsp;21, 2023 (the &ldquo;Placement Agency Agreement&rdquo;).
We are not selling any securities under this prospectus and will not receive any of the proceeds from the sale of securities by the selling
security holders. However, the Company will receive the proceeds of any cash exercise of the Private Warrants and the Placement Agent
Warrants. See &ldquo;Use of Proceeds&rdquo; beginning on page&nbsp;8 of this prospectus for more information.</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; text-align: justify; text-indent: 0.25in">The selling security holders
may sell the shares of common stock described in this prospectus in a number of different ways and at varying prices. We provide more
information about how a selling security holder may sell its shares of common stock in the section titled &ldquo;Plan of Distribution&rdquo;
on page&nbsp;28. We will pay the expenses incurred in registering the securities covered by the prospectus, including legal and accounting
fees.</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; text-align: justify; text-indent: 0.25in">Our common stock is traded
on The Nasdaq Capital Market (&ldquo;Nasdaq&rdquo;) under the symbol &ldquo;CYCC&rdquo;. On January&nbsp;17, 2024, the last reported
sale price of our common stock was $2.09 per share.</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; text-align: center"><B>AN INVESTMENT IN OUR COMMON STOCK INVOLVES
RISKS. SEE THE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECTION&nbsp;ENTITLED &ldquo;RISK FACTORS&rdquo;
BEGINNING ON PAGE 6.</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; text-align: center"><B>Neither the Securities and Exchange Commission
nor any state securities commission has</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>approved or disapproved of these securities
or determined if this prospectus is truthful</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>or complete. Any representation to the contrary
is a criminal offense.</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"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<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; text-align: center">The date of this prospectus is , 2024</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"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: center"><B>TABLE OF CONTENTS</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 94%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PAGE</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PROSPECTUS SUMMARY</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_002"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THE OFFERING</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_002"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_003"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RISK FACTORS</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_003"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_004"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SPECIAL NOTE REGARDING FORWARD-LOOKING
    STATEMENTS</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_004">7</A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_005"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">USE OF PROCEEDS</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_005"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_006"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MARKET FOR OUR COMMON STOCK</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_006"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_007"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DIVIDEND POLICY</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_007"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_008"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SELLING SECURITY HOLDERS</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_008"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_009"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
    OWNERS AND MANAGEMENT</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_009">10</A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_010"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MANAGEMENT AND CORPORATE GOVERNANCE</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_010">12</A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_011"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXECUTIVE AND DIRECTOR COMPENSATION</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_011">19</A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_012"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EQUITY COMPENSATION PLAN INFORMATION</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_012">22</A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#b_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CERTAIN RELATIONSHIPS AND RELATED
    PERSON TRANSACTIONS</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#b_001">27</A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#b_002"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PLAN OF DISTRIBUTION</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#b_002"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">28</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#b_003"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DESCRIPTION OF OUR COMMON STOCK</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#b_003"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">29</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#b_004"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DISCLOSURE OF COMMISSION POSITION
    ON INDEMNIFICATION FOR SECURITIES ACT LIABILITIES</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#b_004"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">31</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#b_005"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">LEGAL MATTERS</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#b_005"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">31</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#b_006"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXPERTS</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#b_006"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">31</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#b_007"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHERE YOU CAN FIND MORE INFORMATION</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#b_007"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">31</FONT></A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#b_008"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">INCORPORATION OF CERTAIN DOCUMENTS
    BY REFERENCE</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#b_008"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">31</FONT></A></TD></TR>
  </TABLE>

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

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->i<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: justify; text-indent: 0.25in">You should read this prospectus
and any applicable prospectus supplement before making an investment in the securities of Cyclacel Pharmaceuticals,&nbsp;Inc. See &ldquo;Where
You Can Find More Information&rdquo; for more information. You should rely only on the information contained in this prospectus or a
prospectus supplement. The Company has not authorized anyone to provide you with different information. This document may be used only
in jurisdictions where offers and sales of these securities are permitted. You should assume that information contained in this prospectus,
or in any prospectus supplement, is accurate only as of any date on the front cover of the applicable document. Our business, financial
condition, results of operations and prospects may have changed since that date. Unless otherwise noted in this prospectus, &ldquo;Cyclacel
Pharmaceuticals,&rdquo; &ldquo;Cyclacel,&rdquo; &ldquo;the Company,&rdquo; &ldquo;we,&rdquo; &ldquo;us,&rdquo; &ldquo;our&rdquo; and
similar terms refer to Cyclacel Pharmaceuticals,&nbsp;Inc.</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; text-align: center"><B>Smaller Reporting Company - Scaled Disclosure</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; text-align: justify; text-indent: 0.25in">Pursuant to Item 10(f)&nbsp;of
Regulation S-K promulgated under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), as indicated herein, we have
elected to comply with the scaled disclosure requirements applicable to &ldquo;smaller reporting companies,&rdquo; including providing
two years of audited financial statements.</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"></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 0.1in; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_001"></A>PROSPECTUS
SUMMARY</B></FONT></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; text-align: justify; text-indent: 0.25in"><I>This summary highlights
some information from this prospectus. It may not contain all the information important to making an investment decision. You should
read the following summary together with the more detailed information regarding our Company and the securities being sold in this offering,
including &ldquo;Risk Factors&rdquo; and other information incorporated by reference herein.</I></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; text-align: justify"><B>Business Overview</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; text-align: justify; text-indent: 0.25in">We are a clinical-stage
biopharmaceutical company developing innovative cancer medicines based on cell cycle, transcriptional regulation, epigenetics and mitosis
control biology. We are a pioneer company in the field of cancer cell cycle biology with a vision to improve patient healthcare by translating
insights in cancer biology into medicines that can overcome resistance and ultimately increase a patient&rsquo;s overall survival. Our
primary focus has been on our transcriptional regulation program, which is evaluating fadraciclib (or fadra), a CDK2/9 inhibitor, in
solid tumors and lymphoma. Separately, our epigenetic/anti-mitotic program is evaluating plogosertib (or plogo), a PLK1 inhibitor, in
solid tumors and lymphoma.</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; text-align: justify; text-indent: 0.25in">We are evaluating oral fadra
and plogo in our Phase 1/2 streamlined studies, the aim of which is to assess safety and identify signals of clinical activity which
may lead to registration-enabling outcomes.</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; text-align: justify"><B><I>Fadraciclib Phase 1/2 Study in Advanced
Solid Tumors and Lymphoma (065-101; NCT#04983810)</I></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; text-align: justify; text-indent: 0.25in">In this ongoing study, a
total of 29 patients have been treated as monotherapy. The study is enrolling unselected, all comer patients with advanced solid tumors
and lymphoma. Six patients have been treated on dose level 6A (125mg twice daily for 5 days per week, 4 out of 4 weeks). The sixth patient
on dose level 6A with pancreatic cancer and CDKN2A deletion enrolled on the study experienced dose-limiting toxicity (or DLT) of hyperglycemia.
The patient, who has a diabetic profile history and was on metformin treatment, remains on study as blood glucose level was managed.
A previous patient on dose level 6A with a pre-diabetic profile had DLT of hyperglycemia which also resolved rapidly.</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; text-align: justify; text-indent: 0.25in">The previous dose level
5 (100mg twice daily for 5 days per week, 4 out of 4 weeks) on this schedule accrued six patients with no DLT and per protocol is safe
for continued development.</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; text-align: justify; text-indent: 0.25in">Dose level 6B (150mg once
daily for 7 days per week, 4 out of 4 weeks) continues accrual with two patients treated, which are ongoing at three and five cycles
of treatment.</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; text-align: justify; text-indent: 0.25in">To date in fadra studies, single agent
activity, including complete response, partial response and stable disease, has been observed in patients with advanced endometrial,
squamous non-small cell lung cancer and T-cell lymphoma. Encouraging signals of activity were observed in patients with advanced
cervical, hepatocellular, ovarian and pancreatic cancers.</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; text-align: justify; text-indent: 0.25in">We believe that fadra&rsquo;s
inhibition of CDK2 and CDK9 may be superior to inhibiting either CDK2 or CDK9 alone. Fadra tablets can be given orally with repeat dosing
which has led to transient suppression of anti-apoptosis proteins with generally good tolerability and no Grade 3 or higher hematological
toxicity in the first cycle.</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; text-align: justify; text-indent: 0.25in">The Phase 2 part of the
065-101 study is designed to further evaluate fadra safety and efficacy in up to eight cohorts defined by histology and/or next generation
sequencing. The study is powered to demonstrate response in the molecular subtype suggested by the Phase 1 data and others that may be
sensitive.</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; text-align: justify"><B><I>Plogosertib Phase 1/2 Study in Advanced
Solid Tumors and Lymphoma (140-101; NCT#05358379)</I></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; text-align: justify; text-indent: 0.25in">In this ongoing study, 15
patients have been treated at five dose escalation levels with no dose limiting toxicities observed. The proof-of-concept stage includes
seven mechanistically relevant cohorts including patients with bladder, breast, colorectal (including KRAS mutant), hepatocellular and
biliary tract, and lung cancers (both small cell and non-small cell), as well as lymphomas. An additional basket cohort will enroll patients
with biomarkers relevant to the drug&rsquo;s mechanism, including MYC amplified tumors. The protocol allows for expansion of individual
cohorts based on response which may allow acceleration of the clinical development and registration plan for plogosertib.</P>

</DIV>

<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; text-align: justify; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 5; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 0.1in; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We currently retain all
marketing rights worldwide to the compounds associated with our drug programs.</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; text-align: justify"><FONT STYLE="background-color: white"><B>Corporate
Information</B></FONT></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; text-align: justify; text-indent: 0.25in">We were incorporated in
Delaware in August&nbsp;1997. Our corporate headquarters are located at 200 Connell Drive, Suite&nbsp;1500, Berkeley Heights, New Jersey
07922, and our telephone number is 908-517-7330. Our employees are located in the United States and the United Kingdom.</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; text-align: justify; text-indent: 0.25in">We are a &ldquo;smaller
reporting company&rdquo; as defined in Rule&nbsp;12b-2&nbsp;of the&nbsp;Securities Exchange Act of 1934, as amended, or the&nbsp;Exchange
Act, and have elected to take advantage of certain of the scaled disclosure available for smaller reporting companies. As a result, the
information that we provide may be different than you might receive from other public reporting companies in which you hold equity interests.</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; text-align: justify; text-indent: 0.25in">Our corporate website address
is www.cyclacel.com. Our Annual Report on Form&nbsp;10-K, Quarterly Reports on Form&nbsp;10-Q, Current Reports on Form&nbsp;8-K, and
amendments to reports filed pursuant to Sections 13(a)&nbsp;and 15(d)&nbsp;of the Securities Exchange Act of 1934, as amended, are available
free of charge on our website as soon as reasonably practicable after we electronically file such material with, or furnish it to, the
Securities and Exchange Commission. The Securities and Exchange Commission maintains an internet site that contains our public filings
with the Securities and Exchange Commission and other information regarding our company, at www.sec.gov. These reports and other information
concerning our company may also be accessed at the Securities and Exchange Commission&rsquo;s Public Reference Room at 100 F Street,
NE, Washington, DC 20549. The public may obtain information on the operation of the Public Reference Room by calling the Securities and
Exchange Commission at 1-800-SEC-0330. The contents of these websites are not incorporated into this prospectus. Further, our references
to the URLs for these websites are intended to be inactive textual reference only.</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; text-align: justify; text-indent: 0.25in">Information contained in,
or that can be accessed through, our website is not incorporated by reference into this prospectus, and you should not consider information
on our website to be part of this prospectus. Our design logo, &ldquo;Cyclacel,&rdquo; and our other registered and common law trade
names, trademarks, and service marks are the property of Cyclacel Pharmaceuticals,&nbsp;Inc.</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; text-align: justify; text-indent: 0.25in">The trademarks, trade names,
and service marks appearing in this prospectus are the property of their respective owners. We do not intend our use or display of other
companies&rsquo; trademarks, trade names, or service marks to imply a relationship with, or endorsement or sponsorship of us by, any
other companies or products.</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; text-align: justify"><B>Reverse Stock Split</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; text-align: justify; text-indent: 0.25in">Effective at 5:00 p.m.&nbsp;Eastern
Time on Friday, December&nbsp;15, 2023, we effected a reverse stock split of our outstanding common stock (&ldquo;Reverse Split&rdquo;).
As a result of the Reverse Split, each of our stockholders received one new share of common stock for every 15 shares such stockholder
held immediately prior to the effective time of the Reverse Split. The Reverse Split affected all of our issued and outstanding shares
of common stock equally. The Reverse Split also affected our outstanding stock options, warrants and other exercisable or convertible
securities and resulted in the shares underlying such instruments being reduced and the exercise price being increased proportionately.
No fractional shares were issued as a result of the Reverse Split. Any fractional shares that would have otherwise resulted from the
Reverse Split was paid in cash, at an amount equal to the resulting fractional interest in one share of the common stock to which the
stockholder would otherwise be entitled, multiplied by the closing trading price of our common stock on December&nbsp;15, 2023. The documents
incorporated by reference herein do not reflect the Reverse Split.</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; text-align: justify"><B>Offering of <FONT STYLE="background-color: white">Common
</FONT>Stock and Warrants</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; text-align: justify; text-indent: 0.25in">On December&nbsp;21, 2023,
we entered into the Securities Purchase Agreement with certain institutional investors (the &ldquo;Purchasers&rdquo;, and such agreement,
the &ldquo;Securities Purchase Agreement&rdquo;), pursuant to which we agreed to issue and sell in a registered direct offering (the
 &ldquo;Registered Direct Offering&rdquo;) (i)&nbsp;an aggregate of 168,500 shares (the &ldquo;Shares&rdquo;) of common stock and (ii)&nbsp;pre-funded
warrants (the &ldquo;Pre-Funded Warrants&rdquo;) to purchase up to 219,700 shares of common stock. Each Share was sold at an offering
price of $3.315 and each Pre-Funded Warrant was sold at an offering price of $3.314 (equal to the purchase price per Share minus the
exercise price of the Pre-Funded Warrant).</P>

</DIV>

<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"></P>

<!-- Field: Page; Sequence: 6; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="border: Black 1pt solid; padding: 0.1in"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Pursuant to the Securities
Purchase Agreement, in a concurrent private placement (together with the Registered Direct Offering, the &ldquo;Offerings&rdquo;), we
also agreed to issue to the Purchasers unregistered warrants (&ldquo;Private Warrants&rdquo;) to purchase up to 388,200 shares of common
stock. Each Private Warrant has an exercise price of $3.19 per share, was exercisable immediately following their original issuance and
will expire seven years from the original issuance date.</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; text-align: justify; text-indent: 0.25in">The Shares and the Pre-Funded
Warrants were offered pursuant to an effective registration statement on Form&nbsp;S-3 (File No.&nbsp;333- 274328), and a related prospectus
supplement. The Private Warrants were sold in a concurrent private placement exempt from registration pursuant to Section&nbsp;4(a)(2)&nbsp;and/or
Rule&nbsp;506 of the Securities Act. The offering closed on December&nbsp;26, 2023. The gross proceeds were approximately $1.29 million
before deducting the placement agent fees and other offering expenses.</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; text-align: justify; text-indent: 0.25in">In connection with the Offerings,
we agreed to pay the placement agent a cash fee equal to 8.0% of the aggregate gross proceeds raised in the Offerings and to reimburse
the placement agent&rsquo;s expenses up to an aggregate of $85,000. In addition, the placement agent also received warrants (the &ldquo;Placement
Agent Warrants&rdquo;) that have substantially the same terms as the Private Warrants to purchase an aggregate of 23,769 shares of our
common stock, at an exercise price of $4.14375 per share. The Placement Agent Warrants were exercisable immediately following the date
of issuance and will expire five years after the date of issuance.</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; text-align: justify; text-indent: 0.25in">In a separate concurrent
insider private placement (the &ldquo;Insider Private Placement&rdquo;), we also sold to certain of our officers 7,956 shares of common
stock and Private Warrants to purchase up to an aggregate of 7,956 shares of common stock at a combined purchase price of $3.315 per
share of common stock and accompanying Private Warrant.</P>

</DIV>

<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"></P>

<!-- Field: Page; Sequence: 7; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="border: Black 1pt solid; padding: 0.1in"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_002"></A>THE
OFFERING</B></FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Issuer</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 78%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cyclacel Pharmaceuticals,&nbsp;Inc.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Common stock offered by the selling security holders</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">411,969 shares issuable
    upon exercise of (i)&nbsp;warrants to purchase up to an aggregate of 388,200 shares of our common stock issued pursuant to the Securities
    Purchase Agreement (which warrants have an exercise price of $3.19 and will be exercisable immediately following their original issuance
    and will expire seven years from the original issuance date) and (ii)&nbsp;warrants to purchase up to an aggregate of 23,769 shares
    of our common stock issued pursuant to the Placement Agency Agreement (which warrants have an exercise price of $4.14375 per share
    and were exercisable immediately following their original issuance and will expire five years after their original issuance date).</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Terms of offering </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The selling security holders
    and any of their pledgees, assignees and successors-in-interest may, from time to time, sell any or all of their shares covered hereby
    on Nasdaq or any other stock exchange, market or trading facility on which the shares are traded or in private transactions.&nbsp;&nbsp;These
    sales may be at fixed or negotiated prices.&nbsp;&nbsp;See &ldquo;Plan of Distribution.&rdquo;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Common stock to be outstanding after this offering</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,318,257 shares</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Use of proceeds</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We will not receive any
    of the proceeds from the sale of our common stock by the selling security holders pursuant to this prospectus. However, we will receive
    the proceeds of any cash exercise of the Private Warrants. If all of the Private Warrants were exercised for cash, we would receive
    aggregate proceeds of approximately $1.24 million. If we receive proceeds, we currently intend to use the proceeds for general corporate
    purposes, including working capital.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Nasdaq Capital Market symbol</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CYCC</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Risk factors</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investing in our securities
    involves a high degree of risk.&nbsp;&nbsp;See &ldquo;Risk Factors&rdquo; on page&nbsp;6 of this prospectus to read
    about factors that you should consider carefully before buying our securities.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="background-color: white">The
number of shares of our common stock to be outstanding immediately after this offering as shown above is based on 1,058,892 shares of
common stock outstanding as of December&nbsp;31, 2023, and excludes:</FONT></P>

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

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="background-color: white">145,446
                                            shares of common stock issuable upon the exercise of options outstanding as of December&nbsp;31,
                                            2023 at a weighted average exercise price of&thinsp;$58.97 per share;</FONT></TD></TR></TABLE>

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

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="background-color: white">34,798
                                            shares of common stock issuable upon vesting of restricted stock units outstanding as of
                                            December&nbsp;31, 2023 at a weighted average exercise price of $16.24 per share;</FONT></TD></TR></TABLE>

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

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="background-color: white">22,466
                                            shares of common stock reserved for future issuance under our equity incentive plan as of
                                            December&nbsp;31, 2023;</FONT></TD></TR></TABLE>

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

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="background-color: white">5,333
                                            shares of common stock reserved for future issuance under our inducement equity incentive
                                            plan as of December&nbsp;31, 2023;</FONT></TD></TR></TABLE>

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

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="background-color: white">619,717
                                            shares of common stock issuable upon the exercise of warrants outstanding as of December&nbsp;31,
                                            2023 at a weighted-average exercise price of&thinsp;$46.92 per share;</FONT></TD></TR></TABLE>

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

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="background-color: white">440
                                            shares of common stock issuable upon the conversion of 264 shares of our Series&nbsp;A Convertible
                                            Preferred Stock, par value $0.001 per share, outstanding as of December&nbsp;31, 2023;</FONT></TD></TR></TABLE>

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

</DIV>

<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"></P>

<!-- Field: Page; Sequence: 8; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 0.1in; border: Black 1pt solid"><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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="background-color: white">5
                                            shares of common stock issuable upon the conversion of 335,273 shares of our 6% Convertible
                                            Exchangeable Preferred Stock, par value $0.001 per share, outstanding as of December&nbsp;31,
                                            2023;</FONT></TD></TR></TABLE>

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

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="background-color: white">39,666
                                            shares of common stock issuable upon the conversion of 119,000 shares of our Series&nbsp;B
                                            Convertible Preferred Stock, par value $0.001 per share, outstanding as of December&nbsp;31,
                                            2023; and</FONT></TD></TR></TABLE>

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

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="background-color: white">219,700
                                            shares of common stock issuable upon exercise of the Pre-Funded Warrants held by the selling
                                            securityholders.</FONT></TD></TR></TABLE>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="background-color: white">Except
as otherwise indicated, all information in this prospectus assumes no exercise of the outstanding options or warrants described above.</FONT></P>

</DIV>

<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"></P>

<!-- Field: Page; Sequence: 9; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_003"></A>RISK
FACTORS</B></FONT></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; text-align: justify; text-indent: 0.25in"><I>Investing in our securities
involves a high degree of risk. Before deciding whether to invest in our securities, you should consider carefully the risks and uncertainties
discussed under the heading &ldquo;Risk Factors&rdquo; contained in our <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1130166/000155837023019369/cycc-20221231x10ka.htm" STYLE="-sec-extract: exhibit">Annual Report on Form&nbsp;10-K/A for the year ended December&nbsp;31, 2022</A> as well as our subsequent filings with the SEC, and as incorporated by reference herein, and as the same may be amended, supplemented
or superseded by the risks and uncertainties described under similar headings in the other documents that are filed after the date hereof
and incorporated by reference herein. The risks described in these documents are not the only ones we face, but those that we consider
to be material. There may be other unknown or unpredictable economic, business, competitive, regulatory or other factors that could have
material adverse effects on our future results. Past financial performance may not be a reliable indicator of future performance, and
historical trends should not be used to anticipate results or trends in future periods. If any of these risks actually occurs, our business,
financial condition, results of operations or cash flow could be seriously harmed. This could cause the trading price of our common stock
to decline, resulting in a loss of all or part of your investment. Please also read carefully the section herein titled &ldquo;Special
Note Regarding Forward-Looking Statements&rdquo; on page&nbsp;7.</I></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"></P>

<!-- Field: Page; Sequence: 10; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_004"></A>SPECIAL
NOTE REGARDING FORWARD-LOOKING STATEMENTS</B></FONT></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; text-align: justify; text-indent: 0.25in">This prospectus and the
documents incorporated by reference herein may contain forward-looking statements that involve risks and uncertainties. These statements
are based on our management&rsquo;s current beliefs, expectations and assumptions about future events, conditions and results and on
information currently available to us. Discussions containing these forward-looking statements may be found, among other places, in the
sections titled &ldquo;Business,&rdquo; &ldquo;Risk Factors&rdquo; and &ldquo;Management&rsquo;s Discussion and Analysis of Financial
Condition and Results of Operations&rdquo; incorporated by reference from our most recent Annual Report on Form&nbsp;10-K and our most
recent Quarterly Report on Form&nbsp;10-Q filed with the SEC, as well as any amendments thereto reflected in subsequent filings with
the SEC.</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; text-align: justify; text-indent: 0.25in">Any statements in this prospectus
or incorporated by reference herein about our expectations, beliefs, plans, objectives, assumptions or future events or performance are
not historical facts and are forward-looking statements. Within the meaning of Section&nbsp;27A of the Securities Act of 1933, as amended,
or the&nbsp;Securities Act, and Section&nbsp;21E of the Securities Exchange Act of 1934, as amended, or the&nbsp;Exchange Act, these
forward-looking statements include statements regarding:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the size and growth potential
    of the markets for our products, and our ability to serve those markets;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the rate and degree of
    market acceptance of our products;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability to expand our
    sales organization to address effectively existing and new markets that we intend to target;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the impact from future
    regulatory, judicial, and legislative changes or developments in the U.S. and foreign countries;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability to compete
    effectively in a competitive industry;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the success of competing
    technologies that are or may become available;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the performance of any
    third-party contract sales organizations, suppliers and manufacturers;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability
    to attract and retain key scientific or management personnel;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the accuracy
    of our estimates regarding expenses, future revenues, reimbursement rates, capital requirements and needs for additional financing;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability
    to comply with the covenants and satisfy certain conditions of any debt facility;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability
    to obtain funding for our operations; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability
    to attract collaborators and strategic partnerships.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In some cases, you can identify
forward-looking statements by terminology such as &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;continue,&rdquo; &ldquo;could,&rdquo;
 &ldquo;estimate,&rdquo; &ldquo;expects,&rdquo; &ldquo;intend,&rdquo; &ldquo;may,&rdquo; &ldquo;might,&rdquo; &ldquo;plan,&rdquo; &ldquo;potential,&rdquo;
 &ldquo;predict,&rdquo; &ldquo;project,&rdquo; &ldquo;should,&rdquo; &ldquo;will,&rdquo; &ldquo;would&rdquo; or the negative or plural
of those terms, and similar expressions intended to identify statements about the future, although not all forward-looking statements
contain these words. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results,
levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking
statements. In addition, statements that &ldquo;we believe&rdquo; and similar statements reflect our beliefs and opinions on the relevant
subject. These statements are based upon information available to us as of the date of this prospectus, and while we believe such information
forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to
indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements
are inherently uncertain and investors are cautioned not to unduly rely upon these statements.</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"></P>

<!-- Field: Page; Sequence: 11; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: justify; text-indent: 0.25in">You should refer to the
risks and uncertainties described in the &ldquo;Risk Factors&rdquo; section contained in this prospectus and under similar headings in
the other documents that are incorporated by reference into this prospectus for a discussion of important factors that may cause our
actual results to differ materially from those expressed or implied by our forward-looking statements. Given these risks, uncertainties
and other factors, many of which are beyond our control, we cannot assure you that the forward-looking statements in this prospectus
will prove to be accurate, and you should not place undue reliance on these forward-looking statements. Furthermore, if our forward-looking
statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking
statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our
objectives and plans in any specified time frame, or at all.</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; text-align: justify; text-indent: 0.25in">Except as required by law,
we assume no obligation to update these forward-looking statements publicly, or to revise any forward-looking statements to reflect events
or developments occurring after the date of this prospectus, even if new information becomes available in the future.</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-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_005"></A>USE
OF PROCEEDS</B></FONT></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; text-align: justify; text-indent: 0.25in">We will not receive any
of the proceeds from the sale of securities by the selling security holders pursuant to this prospectus. However, the Company will receive
the proceeds of any cash exercise of the Private Warrants. If all of the Private Warrants were exercised for cash, we would receive aggregate
proceeds of approximately $1.24 million. If we receive proceeds, we currently intend to use the proceeds for general corporate purposes,
including working capital.</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-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_006"></A>MARKET
FOR OUR COMMON STOCK</B></FONT></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; text-align: justify"><B>Market Information</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; text-align: justify; text-indent: 0.25in">Our common stock currently
trades under the symbol &ldquo;CYCC&rdquo; on Nasdaq.</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; text-align: justify"><B>Stockholders</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; text-align: justify; text-indent: 0.25in">As of January&nbsp;17, 2024,
there were approximately <FONT STYLE="background-color: white">11</FONT> stockholders of record.</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-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_007"></A>DIVIDEND
POLICY</B></FONT></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; text-align: justify; text-indent: 0.25in">We have never declared or
paid any cash dividends on our common stock and do not expect to pay any cash dividends on our common stock for the foreseeable future.
We intend to use future earnings, if any, in the operation and expansion of our business. Any future determination relating to our dividend
policy will be made at the discretion of our board of directors, based on our financial condition, results of operations, contractual
restrictions, capital requirements, business properties, restrictions imposed by applicable law and other factors our board of directors
may deem relevant.</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-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_008"></A>SELLING
SECURITY HOLDERS</B></FONT></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; text-align: justify; text-indent: 0.25in">The shares of common stock
being offered by the selling security holders are those issued upon the exercise of the Private Warrants and the Placement Agent Warrants.
For additional information regarding the issuance of these securities, see &ldquo;Prospectus Summary - Offering of Common Stock and Warrants&rdquo;.
We are registering the shares of common stock in order to permit the selling security holders to offer the shares for resale from time
to time. The Private Warrants have an exercise price of $3.19 per share and were exercisable immediately following their original issuance
and will expire seven years from their original issuance date. The Placement Agent Warrants have an exercise price of $4.14375 per share
and were exercisable immediately following their original issuance and will expire five years from their original issuance date. Other
than as described below, the selling security holders have not had any material relationship with us within the past three years.</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; text-align: justify; text-indent: 0.25in">The selling security holders
might not sell any or all of the shares covered by this prospectus or may sell or dispose of some or all of the shares other than pursuant
to this prospectus. Because the selling security holders may not sell or otherwise dispose of some or all of the shares covered by this
prospectus and because there are currently no agreements, arrangements or understandings with respect to the sale or other disposition
of any of the shares, we cannot estimate the number of the shares that will be held by the selling security holders after completion
of the offering.</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"></P>

<!-- Field: Page; Sequence: 12; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: justify; text-indent: 0.25in">The table below lists the
selling security holders and other information regarding the beneficial ownership (as determined under Section&nbsp;13(d)&nbsp;of the
Exchange Act and the rules&nbsp;and regulations thereunder) of the shares of common stock held by each of the selling security holders.
The table is prepared based on information supplied to us by the selling security holders. The second column lists the number of shares
of common stock beneficially owned by the selling security holders, based on their respective ownership of shares as of January&nbsp;17,
2024. The third column lists the shares of common stock being offered by this prospectus by the selling security holders. The fourth
column assumes the sale of all of the shares offered by the selling security holders pursuant to this prospectus.</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 STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Prior to
    the Offering</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">After the
    Offering</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid"><B>Selling Security<BR>
    Holder <SUP>(1)</SUP></B></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><B>Number
    of<BR> Shares of<BR> Common Stock<BR>
    Beneficially<BR> Owned <SUP>(2)</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><B>Percent
    of<BR> Common Stock<BR> Outstanding <SUP>(3)</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Number
    of<BR> Shares of<BR> Common Stock<BR> Being<BR> Registered for<BR> Resale</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><B>Number
    of<BR> Shares of<BR> Common Stock<BR> Beneficially<BR> Owned <SUP>(4)</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><B>Percent
    of<BR> Common Stock<BR> Outstanding <SUP>(3)(4)</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Altium
    Growth Fund, LP <SUP>(5)</SUP></FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font: 10pt Times New Roman, Times, Serif; text-align: right">82,032</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font: 10pt Times New Roman, Times, Serif; text-align: right">6.22</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font: 10pt Times New Roman, Times, Serif; text-align: right">194,100</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font: 10pt Times New Roman, Times, Serif; text-align: right">82,032</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font: 10pt Times New Roman, Times, Serif; text-align: right">5.42</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lind
    Global Fund II LP <SUP>(6)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">136,959</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">9.99</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">194,100</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">158,428</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">9.99</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ladenburg
    Thalmann&nbsp;&amp; Co. Inc. <SUP>(7)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">9,508</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0.72</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">9,508</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nicholas
    Stergis <SUP>(8)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">14,261</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1.07</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">14,261</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">Total Shares of Common Stock</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">242,760</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">18.00</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">411,969</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">240,460</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">15.41</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  </TABLE>




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

<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: 0.25in">(1)</TD><TD STYLE="text-align: justify">This table and the information in the notes
                                            below are based upon information supplied by the selling security holders, including reports
                                            and amendments thereto filed with the SEC on Schedule 13D.</TD></TR></TABLE>

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

<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: 0.25in">(2)</TD><TD STYLE="text-align: justify">The number of shares of common stock beneficially
                                            owned includes shares of common stock underlying warrants that are exercisable within 60
                                            days of January&nbsp;17, 2024. The Private Warrants become exercisable on December&nbsp;21,
                                            2023 and, accordingly, the shares of common stock underlying the Private Warrants are included
                                            in the shares of common stock beneficially owned as of January&nbsp;17, 2024.</TD></TR></TABLE>

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

<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: 0.25in">(3)</TD><TD STYLE="text-align: justify">Percentage ownership is based on a denominator
                                            equal to the sum of (i)&nbsp;1,318,257 shares of common stock outstanding as of January&nbsp;17,
                                            2024 and (ii)&nbsp;the number of shares of common stock underlying warrants that are exercisable
                                            within 60 days of January&nbsp;17, 2024 that are beneficially owned by the applicable selling
                                            stockholder.</TD></TR></TABLE>

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

<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: 0.25in">(4)</TD><TD STYLE="text-align: justify">Assumes that all shares of common stock being
                                            registered under the registration statement of which this prospectus forms a part are sold
                                            in this offering, and that none of the selling stockholders acquire additional shares of
                                            our common stock after the date of this prospectus and prior to completion of this offering.</TD></TR></TABLE>

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

<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: 0.25in">(5)</TD><TD STYLE="text-align: justify">Consists of (i)&nbsp;82,032 shares of common
                                            stock, (ii)&nbsp;109,850 pre-funded warrants to purchase common stock, and (iii)&nbsp;224,100
                                            warrants to purchase common stock; however, each of the warrants includes a provision limiting
                                            Altium Growth Fund, LP&rsquo;s ability to exercise the warrants if such exercise would cause
                                            it to beneficially own greater than 4.99% of the Company.</TD></TR></TABLE>

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

<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: 0.25in">(6)</TD><TD STYLE="text-align: justify">Consists of (i)&nbsp;84,250 shares of common
                                            stock, (ii)&nbsp;109,850 pre-funded warrants to purchase common stock, and (iii)&nbsp;194,100
                                            warrants to purchase common stock; however, each of the warrants includes a provision limiting
                                            Lind Global Fund II LP&rsquo;s ability to exercise the warrants if such exercise would cause
                                            it to beneficially own greater than 9.99% of the Company.</TD></TR></TABLE>

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

<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: 0.25in">(7)</TD><TD STYLE="text-align: justify">Consists of 9,508 warrants to purchase common
                                            stock.</TD></TR></TABLE>

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

<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: 0.25in">(8)</TD><TD STYLE="text-align: justify">Consists of 14,261 warrants to purchase common
                                            stock.</TD></TR></TABLE>

<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"></P>

<!-- Field: Page; Sequence: 13; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: center"><B><A NAME="a_009"></A>SECURITY OWNERSHIP OF CERTAIN
BENEFICIAL OWNERS AND MANAGEMENT</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; text-align: justify; text-indent: 0.25in">The following table sets
forth certain information with respect to the beneficial ownership of our common stock as of January&nbsp;17, 2024 for (a)&nbsp;each
of our executive officers, (b)&nbsp;each of our directors, (c)&nbsp;all of our current directors and executive officers as a group and
(d)&nbsp;each stockholder known by us to own beneficially more than 5% of our common stock or Preferred Stock.</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; text-align: justify; text-indent: 0.25in">Beneficial ownership is
determined in accordance with the rules&nbsp;of the SEC and includes voting or investment power with respect to the securities. We deem
shares of common stock that may be acquired by an individual or group within 60 days of January&nbsp;17, 2024 pursuant to the exercise
of options to be outstanding for the purpose of computing the percentage ownership of such individual or group, but are not deemed to
be outstanding for the purpose of computing the percentage ownership of any other person shown in the table. Except as indicated in footnotes
to this table, we believe that the stockholders named in this table have sole voting and investment power with respect to all shares
of common stock shown to be beneficially owned by them based on information provided to us by these stockholders. Percentage of ownership
of common stock is based on 1,318,257 shares of common stock outstanding as of January&nbsp;17, 2024.</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 STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid">Name of Beneficial Owners</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Number
    of <BR> Shares of <BR> Common Stock <BR> Beneficially <BR> Owned</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Percentage
    of <BR> Common Stock <BR> Owned</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Number
    of <BR> Shares of <BR> Preferred Stock <BR> Beneficially <BR> Owned</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Percentage
    of <BR> Preferred Stock <BR> Owned</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%; font: 10pt Times New Roman, Times, Serif; text-align: left">Dr.&nbsp;Samuel L. Barker</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">4,155</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Dr.&nbsp;Kenneth M. Ferguson(1)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,373</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Dr.&nbsp;Christopher Henney</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4,089</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Dr.&nbsp;Mark Kirschbaum(2)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">13,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*
                                            </FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Paul McBarron(3)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">16,056</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1.22</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Spiro Rombotis(4)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">29,603</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2.25</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,600</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">*</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Dr.&nbsp;Robert Spiegel</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4,073</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Dr.&nbsp;Brian Schwartz(5)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4,181</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Karin Walker(6)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4,181</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Executive officers and directors as a group (9 persons)&#65279;(7)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">81,711</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">6.20</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: left">5% or more stockholders</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Entities affiliated with Lind Global Fund II LP(8)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">102,250</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">7.76</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Entities affiliated with Altium Growth Fund, LP(9)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">82,032</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">6.22</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<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">* Represents beneficial ownership of less than 1% of the outstanding
shares of our common stock.</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; text-align: justify">(1)&nbsp;Includes options to purchase 176 shares
of common stock that are exercisable within 60 days of January&nbsp;17, 2024.</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; text-align: justify">(2)&nbsp;Includes options to purchase 370 shares
of common stock that are exercisable within 60 days of January&nbsp;17, 2024.</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; text-align: justify">(3)&nbsp;Includes options to purchase 371 shares
of common stock that are exercisable within 60 days of January&nbsp;17, 2024.</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; text-align: justify">(4)&nbsp;Includes options to purchase 704 shares
of common stock that are exercisable within 60 days of January&nbsp;17, 2024. Does not include 46 shares of common stock beneficially
owned by Kalliopi Rombotis, Mr.&nbsp;Rombotis&rsquo; mother. Mr.&nbsp;Rombotis disclaims beneficial ownership of the foregoing shares.</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"></P>

<!-- Field: Page; Sequence: 14; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: justify">(5)&nbsp;Includes options to purchase 9 shares
of common stock that are exercisable within 60 days of January&nbsp;17, 2024.</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; text-align: justify">(6)&nbsp;Includes options to purchase 9 shares
of common stock that are exercisable within 60 days of January&nbsp;17, 2024.</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; text-align: justify">(7)&nbsp;See footnotes 1 through and including
9.</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; text-align: justify">(8)&nbsp;Based solely on Schedule 13G/A filed
with the SEC on January&nbsp;4, 2024 by Lind Global Fund II, LP. Lind Global Partners II LLC, the general partner of Lind Global Fund
II LP, may be deemed to have sole voting and dispositive power with respect to the shares held by Lind Global Fund II LP. Jeff Easton,
the managing member of Lind Global Partners II LLC, may be deemed to have sole voting and dispositive power with respect to the shares
held by Lind Global Fund II LP.</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; text-align: justify">(9)&nbsp;Based solely on Schedule 13G/A filed
with the SEC on January&nbsp;10, 2024 by Altium Growth Fund, LP. Altium Capital Management, LP is the investment adviser of, and may
be deemed to beneficially own securities, owned by the Altium Growth Fund, LP (the &ldquo;Fund&rdquo;). Altium Growth GP, LLC is the
general partner of, and may be deemed to beneficially own securities, owned by the Fund.</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"></P>

<!-- Field: Page; Sequence: 15; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: center"><B><A NAME="a_010"></A>MANAGEMENT AND CORPORATE
GOVERNANCE</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"><B>The Board of Directors</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; text-align: justify; text-indent: 0.25in">Our charter provides that
our business is to be managed by or under the direction of our Board of Directors. Our Board of Directors is divided into three classes
for purposes of election. One class is elected at each annual meeting of stockholders to serve for a three-year term. Our Board of Directors
currently consists of three classes, as set forth below. We also have two directors who are elected by holders of our 6% Convertible
Exchangeable Preferred Stock (the &ldquo;Preferred Stock&rdquo;).</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; text-align: justify; text-indent: 0.25in">Set forth below, as of January&nbsp;17,
2024, are the names of the directors, their ages, their offices in the Company, if any, their principal occupations or employment for
at least the past five years, the length of their tenure as directors and the names of other public companies in which such persons hold
or have held directorships during the past five years. Additionally, information about the specific experience, qualifications, attributes
or skills that led to our Board of Directors&rsquo; conclusion at the time of filing of this prospectus that each person listed below
should serve as a director is set forth below:</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 STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid">Name</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Age</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Position</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%; font: 10pt Times New Roman, Times, Serif; text-align: left">Spiro Rombotis</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: center">65</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 62%; font: 10pt Times New Roman, Times, Serif; text-align: left">President and Chief Executive Officer; Class&nbsp;2
    Director</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Paul McBarron</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">63</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Executive Vice President&thinsp;-&thinsp;Finance, Chief Financial
    Officer, Chief Operating Officer and Secretary; Class&nbsp;3 Director</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Dr.&nbsp;Christopher Henney</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">82</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Chairman; Class&nbsp;3 Director</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Dr.&nbsp;Robert Spiegel</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">74</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Vice Chairman; Class&nbsp;3 Director</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Dr.&nbsp;Samuel L. Barker</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">81</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Class&nbsp;2 Director on behalf of our holders of Preferred
    Stock</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Dr.&nbsp;Kenneth M. Ferguson</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">68</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Class&nbsp;1 Director on behalf of our holders of Preferred
    Stock</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Dr.&nbsp;Brian Schwartz</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">62</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Class&nbsp;2 Director</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Karin L. Walker</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">60</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Class&nbsp;1 Director</TD></TR>
  </TABLE>

<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>Board Diversity Matrix<BR>
(as of January&nbsp;17, 2024)</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; text-indent: 0.25in">This table provides information on the diversity
of our current Board of Directors:</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 STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">8</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; width: 74%">Total Number
    of Directors</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Male
                                            </B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Female
    </B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Part&nbsp;I: Gender Identity</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Directors</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">7</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">1</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Part&nbsp;II: Demographic Background</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">White</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">6</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">1</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Did not Disclose Demographic Background</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">1</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Class&nbsp;1 Director (Term to Expire in 2025)</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Karin
L. Walker</I></B></FONT>. Ms.&nbsp;Walker has served as a director of the Company since November&nbsp;2020 and has over 30 years of extensive
finance experience in biopharmaceuticals, including in public biotechnology companies and technology companies. Ms.&nbsp;Walker currently
serves as the Chief Accounting Officer of Prothena Corporation plc, a late-stage clinical biotechnology company with expertise in protein
dysregulation and a pipeline of investigational therapeutics focused on neurodegenerative and rare peripheral amyloid diseases, and has
held this position since 2013. Prior to joining Prothena, she was Vice President, Finance and Chief Accounting Officer of Affymax,&nbsp;Inc.,
a position she held from 2012 to 2013. From 2009 to 2012, Ms.&nbsp;Walker was Vice President, Finance and Corporate Controller at Amyris
Inc. From 2006 to 2009, she was Vice President, Finance and Corporate Controller for CV Therapeutics,&nbsp;Inc. Ms.&nbsp;Walker also
held senior financial leadership positions at Knight Ridder Digital, Accellion, Niku Corporation, Financial Engines,&nbsp;Inc. and NeoMagic
Corporation. Ms.&nbsp;Walker also served as a director and Audit Committee Chair for LifeSci Acquisition Corp. (a publicly-traded special
purpose acquisition company) in 2020. Ms.&nbsp;Walker earned her B.S. in business from the California State Polytechnic University, San
Luis Obispo, and is a certified public accountant (CPA). We believe that Ms.&nbsp;Walker&rsquo;s qualifications to serve on the Board
of Directors include experience in the biotechnology and pharmaceutical industry and her many years&rsquo; experience in finance.</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"></P>

<!-- Field: Page; Sequence: 16; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: justify"><B>Preferred Stock Class&nbsp;1 Director (Term
to Expire in 2025)</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Dr.&nbsp;Kenneth
M. Ferguson</I></B></FONT><I>.</I> Dr.&nbsp;Ferguson has worked in the biopharmaceutical industry for 30 years, and has led Research
and Development operations in a number of publicly funded biotechnology companies. Dr.&nbsp;Ferguson is currently an operating partner
at Accelerator Life Science Partners. He served at ICOS Corporation, at various times in its history, as President, Vice President of
Therapeutic Development and Senior Director of Research. He was co-team leader of ICOS&rsquo; joint venture with Eli Lilly and Company
that resulted in the launch of Cialis<FONT STYLE="font-size: 10pt">&reg;</FONT>/Adcirca<FONT STYLE="font-size: 10pt">&reg;</FONT> for
the treatment of erectile dysfunction, benign prostatic hyperplasia and pulmonary arterial hypertension. Subsequently, Dr.&nbsp;Ferguson
was Vice President of Development and Chief Development Officer at Omeros Corporation and was involved in the approval and the launch
of its first product for use in cataract surgery. Dr.&nbsp;Ferguson has also served as President and CEO of privately held Imvaxyn Corporation,
a company dedicated to the exploration of new vaccine technology and was Chief Scientific Officer of EMulate Therapeutics. Dr.&nbsp;Ferguson
graduated in biological sciences from Cornell University, obtained his PhD in pharmacology from the University of Texas Health Sciences
Center Dallas, and completed his postdoctoral studies at Cold Spring Harbor Laboratory in New York. We believe Dr.&nbsp;Ferguson&rsquo;s
qualifications to serve on the Board of Directors include his extensive knowledge and business experience in the biotechnology industry,
including as an executive in public companies, where he developed specific expertise in research and development of pharmaceutical products.</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"><B>Class&nbsp;2 Directors (Terms to expire in 2026)</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Spiro
Rombotis</I></B></FONT>. Mr.&nbsp;Rombotis joined Cyclacel as its first CEO in 1997 and has over 38 years at three public biotechs and
two pharmas. He participated in in-licensing, clinical development, regulatory approval, partnering and commercial launch of several
drugs, mainly in inflammation and hematology/oncology, including Abelcet<FONT STYLE="font-size: 10pt">&reg;</FONT>, Evacet/Myocet<FONT STYLE="font-size: 10pt">&reg;</FONT>,
ProHance<FONT STYLE="font-size: 10pt">&reg;</FONT>, Remicade<FONT STYLE="font-size: 10pt">&reg;</FONT> and Reopro<FONT STYLE="font-size: 10pt">&reg;</FONT>.
Major functional roles included international operations and business development as Vice President at Liposome (subsequently acquired
by Elan) and previously Vice President in the pharmaceuticals division of Bristol-Myers Squibb. He began his career in the early &rsquo;80s,
after training at Novartis, as one of the first employees of Centocor (subsequently acquired by Johnson&nbsp;&amp; Johnson). He holds
an MBA and MPH (Hospital&nbsp;&amp; Health Services Management) with honors, Kellogg School of Management, Northwestern University and
a BA, Williams College (1981 James A. Garfield Scholar). He serves on the Board of Trustees of BioNJ, the NJ biotech association. We
believe Mr.&nbsp;Rombotis&rsquo; qualifications to serve on the Board of Directors include his role as President and Chief Executive
Officer of our Company, his extensive knowledge and experience in the biotechnology and life sciences industry and his leadership, strategic
guidance and operational vision.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Brian
Schwartz, M.D</I></B></FONT>. Dr.&nbsp;Schwartz has served as a director of the company since December&nbsp;2020. Dr.&nbsp;Schwartz has
wide-ranging experience as a drug development expert in pharmaceutical and biotechnology industries primarily in oncology, hematology,
and rare diseases. From June&nbsp;2008 to 2020, he served as Senior Vice President, Head of Research&nbsp;&amp; Development and Chief
Medical Officer of ArQule Inc., which was acquired for $2.7 billion by Merck&nbsp;&amp; Co. in 2020. Prior to ArQule, Dr.&nbsp;Schwartz
was Chief Medical Officer at Ziopharm, having previously held several senior leadership roles at Bayer and LEO Pharma. He is a current
Board Member of Mereo Biopharma,&nbsp;Infinity and Enlivex Pharmaceuticals and also served as a director of LifeSci Acquisition Corp.
(a publicly-traded special purpose acquisition company) in 2020. In addition, he serves as an advisor, SAB member and independent consultant
for numerous biotech and investment companies. He received his medical degree from the University of Pretoria, South Africa, completed
a fellowship at the University of Toronto, Canada and practiced medicine prior to his career in the biopharmaceutical industry. We believe
Dr.&nbsp;Schwartz&rsquo;s qualifications to serve on the Board of Directors include his extensive knowledge and experience in the biotechnology
and life science industry.</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"></P>

<!-- Field: Page; Sequence: 17; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: justify"><B>Preferred Stock Class&nbsp;2 Director (Term
to Expire in 2026)</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Samuel
L. Barker</I></B></FONT>. Dr.&nbsp;Barker has served as a director of the Company since September&nbsp;2014. In 2001, Dr.&nbsp;Barker
co-founded Clearview Projects,&nbsp;Inc., a provider of partnering and transaction services to biopharmaceutical companies, where he
was active until September&nbsp;2010, having served as its President and Chief Executive Officer from 2003 to 2004. Dr.&nbsp;Barker served
in a series of leadership positions at Bristol-Myers Squibb Company until his retirement in 1999. His positions at Bristol-Myers Squibb
included service as Executive Vice President, Worldwide Franchise Management and Strategy during 1998; President, United States Pharmaceuticals
from 1992 to 1998; and President, Bristol-Myers Squibb Intercontinental Commercial Operations from 1989 to 1991. Prior to 1989, Dr.&nbsp;Barker
held executive positions in research and development, manufacturing, business development and operations planning at Squibb Pharmaceuticals.
Dr.&nbsp;Barker has served as a director of Lexicon Pharmaceuticals,&nbsp;Inc. since 2001 and as Chairman from 2005 to 2012. Dr.&nbsp;Barker
also served as a director of Cadence Pharmaceuticals,&nbsp;Inc. from 2006 to 2014 and AtheroGenics,&nbsp;Inc. from 2005 to 2009. Dr.&nbsp;Barker
received his B.S. from Henderson State College, his M.S. from the University of Arkansas and his Ph.D. from Purdue University. We believe
that Dr.&nbsp;Barker&rsquo;s qualifications to serve on the Board of Directors include his extensive experience in senior leadership
positions in the global pharmaceutical industry, where he developed specific expertise in the identification, development, commercialization
and partnering of pharmaceutical products.</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; text-align: justify"><B>Class&nbsp;3 Directors (Term to Expire in
2024)</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Paul
McBarron</I></B></FONT>. Mr.&nbsp;McBarron has served as a director of the Company since March&nbsp;2006. Mr.&nbsp;McBarron joined Cyclacel
in January&nbsp;2002 and has over 30 years of experience with pharmaceutical and biotechnology companies. He has served as a financial
executive at Sterling Drug, Sanofi-Winthrop and SmithKline Beecham and, from 1996 to 2001, as a senior member of the finance team at
Shire Pharmaceuticals plc, where he held the positions of Director of Corporate Finance and Group Financial Controller. He joined Shire
when it was an emerging public company. He qualified as a chartered accountant with Ernst&nbsp;&amp; Young and served on the Scottish
Lifesciences Association Board. We believe Mr.&nbsp;McBarron&rsquo;s qualifications to serve on the Board of Directors include his role
as Executive Vice President, Finance and Chief Operating Officer of our Company, his experience in the biotechnology and pharmaceutical
industry and his expertise in financial areas and operations.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Christopher
S. Henney, Ph.D. D.Sc</I></B></FONT>. Dr.&nbsp;Henney has served as a director of the Company since March&nbsp;2006. Dr.&nbsp;Henney
became Chairman of the Board of Directors of the Company in October&nbsp;2020. Dr.&nbsp;Henney had served as a director of Xcyte Therapies
Inc., acquired by the Company in 2006, since March&nbsp;2005, and continued on as Vice Chairman of the Company. Previously, Dr.&nbsp;Henney
co-founded three major publicly held U.S. biotechnology companies,&nbsp;Immunex,&nbsp;ICOS and Dendreon, and held a seat on the board
of directors and executive positions at each company. From 1995 to January&nbsp;2003, Dr.&nbsp;Henney was Chairman and Chief Executive
Officer of Dendreon Corporation. During part of 2016, he was also interim President and Chief Executive Officer of Cascadian Therapeutics
Inc. and a board member of Anthera Pharmaceuticals,&nbsp;Inc., both biotechnology companies. Dr.&nbsp;Henney was a director of Prothena
Corporation plc from 2013 until May&nbsp;2022. Dr.&nbsp;Henney received a Ph.D. in experimental pathology from the University of Birmingham
and a D.Sc. from the same university for contributions to the field of immunology. In 2012, Dr.&nbsp;Henney was inducted into the Biotechnology
Hall of Fame. We believe Dr.&nbsp;Henney&rsquo;s qualifications to serve on the Board of Directors include his extensive knowledge and
business experience in the biotechnology industry, including a diversified background as an executive in public companies and as a board
member of many public companies, giving him a breadth of knowledge and valuable understanding of our business.</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"></P>

<!-- Field: Page; Sequence: 18; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Robert
J. Spiegel, M.D</I></B></FONT>. Dr.&nbsp;Spiegel has served as a director of the Company since September&nbsp;2018. Dr.&nbsp;Spiegel
has over 30 years of extensive R&amp;D and operational experience in biopharmaceuticals, including large pharmaceutical and biotechnology
companies, and academic startups as well as an advisor to venture capital and private equity funds. Dr.&nbsp;Spiegel has also served
as a director of Athenex,&nbsp;Inc., a global biopharmaceutical company, since August&nbsp;2020, of Geron Corp., a late-stage clinical
biopharmaceutical company, since May&nbsp;2010, and of Ayala Pharmaceuticals,&nbsp;Inc., a clinical-stage oncology company, since December&nbsp;2017.
Dr.&nbsp;Spiegel was an Assistant Professor and Director of the Developmental Therapeutics Program at New York University Medical Center
and then spent 25 years at Schering-Plough (subsequently acquired by Merck&nbsp;&amp; Co.), where he joined as the first Director for
Oncology Clinical Research. He subsequently held a series of senior executive positions, including Senior Vice President for Worldwide
Clinical Research and Chief Medical Officer. During his time at Schering-Plough he led teams that took numerous drug candidates through
clinical development and was involved with over 30 New Drug Application approvals by the U.S. FDA. For the last seven years, he has been
a consultant to the biotech industry and has served on the Scientific Advisory Board and Board of Directors of multiple biotech companies.
Dr.&nbsp;Spiegel received his B.A. from Yale University and his M.D. from the University of Pennsylvania. He completed his specialty
training at the National Cancer Institute, National Institute of Health (NIH). We believe Dr.&nbsp;Spiegel&rsquo;s qualifications to
serve on the Board of Directors include his extensive knowledge and business experience in the biotechnology industry, including a diversified
background as an executive in public companies and as a board member of several public companies, giving him a breadth of knowledge and
valuable understanding of our business.</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; text-align: justify"><B>Director Independence</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; text-align: justify; text-indent: 0.25in">Our Board of Directors has
reviewed the materiality of any relationship that each of our directors has with the Company, either directly or indirectly. Based upon
this review, our Board of Directors has determined that each of the following directors is an &ldquo;independent director&rdquo; as such
term is defined by rules&nbsp;of The Nasdaq Stock Market,&nbsp;Inc., or Nasdaq:</P>

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

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Christopher
                                            S. Henney, Ph.D., D.Sc.</TD></TR></TABLE>

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

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Robert
                                            J. Spiegel, M.D.</TD></TR></TABLE>

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

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Samuel
                                            L. Barker, Ph.D.</TD></TR></TABLE>

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

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Kenneth
                                            M. Ferguson, Ph.D.</TD></TR></TABLE>

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

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Brian
                                            Schwartz, M.D.</TD></TR></TABLE>

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

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Karin
                                            L. Walker</TD></TR></TABLE>

<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; text-align: justify; text-indent: 0.25in">The Board of Directors has
established three standing committees: (1)&nbsp;the Compensation and Organization Development Committee, (2)&nbsp;the Audit Committee,
and (3)&nbsp;the Nominating and Corporate Governance Committee. The Board of Directors has also determined that each member of these
committees meets the independence requirements applicable to each such committee as prescribed by Nasdaq and the SEC. In September&nbsp;2018,
the Board of Directors also reconstituted the Science and Technology Committee.</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; text-align: justify"><B>Committees of the Board of Directors and Meetings</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I></I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Meeting
Attendance</I>. During fiscal 2023, there were 11 meetings of our Board of Directors, and the Compensation and Organization
Development Committee, the Audit Committee, the Nominating and Corporate Governance Committee and the Science and Technology
Committee met collectively a total of 14 times. No director attended fewer than 55% of the total number of meetings of the Board of
Directors or of the committees of the Board of Directors on which they served during fiscal 2023. We have adopted a policy
encouraging our directors to attend annual meetings of stockholders. Five of our then directors attended our annual
stockholders&rsquo; meeting held on June&nbsp;13, 2023. Each of the committees of the Board of Directors is described below.</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"></P>

<!-- Field: Page; Sequence: 19; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Audit
Committee</I></FONT>. Our Audit Committee met six times during fiscal 2023. The Audit Committee during such period had four members:
Karin L. Walker (Chair), Dr.&nbsp;Christopher Henney, Dr.&nbsp;Samuel L. Barker and Dr.&nbsp;Robert J. Spiegel. Karin L. Walker was appointed
as Chairman of the Audit Committee on February&nbsp;18, 2021. All members of the Audit Committee satisfy the current independence standards
promulgated by Nasdaq and the SEC, as such standards apply specifically to members of audit committees. The Board of Directors has determined
that Karin L. Walker is an &ldquo;audit committee financial expert,&rdquo; as the SEC has defined that term in Item 407 of Regulation
S-K.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Audit Committee&rsquo;s role and responsibilities are set forth in the Audit Committee&rsquo;s written charter and include the authority
to retain and terminate the services of our independent registered public accounting firm. In addition, the Audit Committee reviews annual
financial statements, considers matters relating to accounting policy and internal controls and reviews the scope of annual audits. For
additional information, please see the report of the Audit Committee set forth elsewhere in this proxy statement. A copy of the Audit
Committee&rsquo;s written charter is publicly available on our website at </FONT><I><U>www.cyclacel.com</U></I>.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Compensation
and Organization Development Committee</I></FONT>. Our Compensation and Organization Development Committee met three times during fiscal
2023. The Compensation and Organization Development Committee is composed entirely of directors who are not our current or former employees,
all of whom qualify as independent under the definition promulgated by Nasdaq and the SEC. The Compensation and Organization Development
Committee currently has three members: Dr.&nbsp;Samuel L. Barker (Chairman), Dr.&nbsp;Christopher S. Henney and Dr.&nbsp;Kenneth M. Ferguson.
Our Compensation and Organization Development Committee&rsquo;s role and responsibilities are set forth in its written charter and include
reviewing, approving and making recommendations regarding our compensation policies, practices and procedures to ensure that legal and
fiduciary responsibilities of the Board of Directors are carried out and that such policies, practices and procedures contribute to our
success. The Compensation and Organization Development Committee also administers our 2020 Inducement Equity Incentive Plan, our 2018
Equity Incentive Plan, our 2015 Equity Incentive Plan and our Amended and Restated 2006 Equity Incentive Plan, as amended. Our Compensation
and Organization Development Committee is responsible for the determination of the compensation of our chief executive officer, and shall
conduct its decision making process with respect to that issue without the chief executive officer present.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
copy of the Compensation and Organization Development Committee&rsquo;s written charter is publicly available on our website at </FONT><U>www.cyclacel.com</U>.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I></I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Nominating and Corporate
Governance Committee</I>. Our Nominating and Corporate Governance Committee met once during fiscal 2023. The Nominating and Corporate
Governance Committee consists of Dr.&nbsp;Christopher S. Henney (Chairman), Dr.&nbsp;Brian Schwartz, Karin L. Walker and Dr.&nbsp;Robert
J. Spiegel, all of whom qualify as independent under the definition promulgated by Nasdaq and the SEC. The functions of the Nominating
and Corporate Governance Committee are set forth in the Nominating and Corporate Governance Committee&rsquo;s charter and include evaluating
and making recommendations to the full Board of Directors as to the size and composition of the Board of Directors and its committees,
evaluating and making recommendations as to potential candidates, and evaluating the performance of the Board of Directors. Generally,
our Nominating and Corporate Governance Committee considers candidates recommended by stockholders as well as from other sources such
as other directors or officers, third party search firms or other appropriate sources. Once identified, the Nominating and Corporate Governance
Committee will evaluate a candidate&rsquo;s qualifications in accordance with its guiding principles as set forth in the Nominating and
Corporate Governance Committee&rsquo;s written charter. Additionally, the Nominating Committee will consider issues of diversity among
its members in identifying and considering nominees for director, and strive where appropriate to achieve a diverse balance of backgrounds,
perspectives, experience, age, gender, ethnicity and country of citizenship on our board of directors and its committees.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
copy of the Nominating and Corporate Governance Committee&rsquo;s written charter is publicly available on our website at </FONT><I><U>www.cyclacel.com</U></I>.</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"></P>

<!-- Field: Page; Sequence: 20; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Science and Technology
Committee</I>. The Science and Technology Committee, which met four times during fiscal 2023, consists of Dr.&nbsp;Robert J. Spiegel (Chairman),
Dr.&nbsp;Samuel L. Barker, Dr.&nbsp;Kenneth M. Ferguson and Dr.&nbsp;Brian Schwartz, all of whom qualify as independent under the definition
promulgated by Nasdaq and the SEC.</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; text-align: justify; text-indent: 0.25in">The responsibilities of
the Science and Technology Committee are set forth in the Science and Technology Committee&rsquo;s charter and include providing oversight
on behalf of the Board of Directors of our overall strategic direction and investment in research and development (&ldquo;R&amp;D&rdquo;)
and technological and scientific initiatives. The Science and Technology Committee also assists the Board of Directors and our management
in evaluating risks and potential commercial value of technical profiles regarding our R&amp;D programs and technology, as they might
impact our business performance, growth and competitive position.</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; text-align: justify"><B>Board Leadership Structure</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; text-align: justify; text-indent: 0.25in">Dr.&nbsp;Christopher Henney
serves as the Chairman of our Board of Directors and Mr.&nbsp;Rombotis serves as our President and Chief Executive Officer. Dr.&nbsp;Christopher
Henney is an independent director under the definition promulgated by Nasdaq and the SEC, and we believe that it is preferable for one
of our independent directors to serve as Chairman of the Board of Directors. We also believe that this structure is the most effective
structure for us and our stockholders at this time because a separate chairman (i)&nbsp;can provide the Chief Executive Officer with
guidance and feedback on his performance, (ii)&nbsp;provides a more effective channel for the Board of Directors to express views on
management, and (iii)&nbsp;allows the Chairman to focus on stockholder interests and corporate governance while providing Mr.&nbsp;Rombotis
with the ability to focus his attention on managing our day-to-day operations. As Dr.&nbsp;Henney has significant senior level pharmaceutical
industry experience, he is particularly well-suited to serve as Chairman.</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; text-align: justify; text-indent: 0.25in">We recognize that different
board leadership structures may be appropriate for companies in different situations. We will continue to re-examine our corporate governance
policies and leadership structures on an ongoing basis to ensure that they continue to meet the Company&rsquo;s needs.</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; text-align: justify"><B>Role in Risk Oversight</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; text-align: justify; text-indent: 0.25in">Management is responsible
for managing the risks that we face. The Board of Directors is responsible for overseeing management&rsquo;s approach to risk management
that is designed to support the achievement of organizational objectives, including strategic objectives and risks associated with our
clinical trials, to improve long-term organizational performance and enhance stockholder value. The involvement of the full Board of
Directors in reviewing our strategic objectives and plans, including with respect to our clinical trials, is a key part of the Board
of Directors&rsquo; assessment of management&rsquo;s approach and tolerance to risk. A fundamental part of risk management is not only
understanding the risks a company faces and what steps management is taking to manage those risks, but also understanding what level
of risk is appropriate for us. In setting our business strategy, our Board of Directors assesses the various risks being mitigated by
management and determines what constitutes an appropriate level of risk for us.</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; text-align: justify; text-indent: 0.25in">While the Board of Directors
has ultimate oversight responsibility for overseeing management&rsquo;s risk management process, various committees of the Board of Directors
assist it in fulfilling that responsibility. Notably, the Audit Committee assists the Board of Directors in its oversight of risk management
in the areas of financial reporting, internal controls and compliance with legal and regulatory requirements, the Nominating and Corporate
Governance Committee reviews legal and regulatory compliance risks and the Compensation and Organization Development Committee assists
the Board of Directors in its oversight of the evaluation and management of risks related to our compensation policies and practices.</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; text-align: justify"><B>Policy Prohibiting Hedging</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; text-align: justify; text-indent: 0.25in">Our Insider Trading Policy
provides that no employee, officer or director may acquire, sell or trade in any interest or position relating to the future price of
Company securities, such as a put option, a call option or a short sale (including a short sale &ldquo;against the box&rdquo;), or engage
in hedging transactions (including &ldquo;cashless collars&rdquo;).</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"></P>

<!-- Field: Page; Sequence: 21; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: justify"><B>Stockholder Communications to the Board of
Directors</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; text-align: justify; text-indent: 0.25in">Generally, stockholders
who have questions or concerns should contact our Investor Relations department at (908) 517-7330 or e-mail at <I>ir@cyclacel.com</I>.
However, stockholders wishing to submit written communications directly to the Board of Directors should send their communications to
our Secretary, Paul McBarron, Cyclacel Pharmaceuticals,&nbsp;Inc., 200 Connell Drive, Suite&nbsp;1500, Berkeley Heights, New Jersey 07922.</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; text-align: justify; text-indent: 0.25in">All stockholder communications
will be considered by the independent members of our Board of Directors. Items that are unrelated to the duties and responsibilities
of the Board may be excluded, such as:</P>

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

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">junk
                                            mail and mass mailings;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">resumes
                                            and other forms of job inquiries;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">surveys;
                                            and</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">solicitations
                                            or advertisements.</TD></TR></TABLE>

<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; text-align: justify; text-indent: 0.25in">In addition, any material
that is unduly hostile, threatening, or illegal in nature may be excluded, provided that any communication that is filtered out will
be made available to any independent director upon request.</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; text-align: justify"><B>Executive Officers</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; text-align: justify">The following table sets forth certain information
regarding Dr.&nbsp;Mark Kirschbaum, our current executive officer who is not a member of our Board of Directors.</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 STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: justify; border-bottom: Black 1pt solid">Name</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Age</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: justify; border-bottom: Black 1pt solid">Position</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%; font: 10pt Times New Roman, Times, Serif; text-align: justify">Dr.&nbsp;Mark Kirschbaum</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: left">63</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 62%; font: 10pt Times New Roman, Times, Serif; text-align: justify">Senior Vice President and Chief Medical Officer</TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Mark
Kirschbaum, M.D</I></B></FONT>. Dr.&nbsp;Kirschbaum joined Cyclacel as Senior Vice President and Chief Medical Officer in October&nbsp;2020.
Dr.&nbsp;Kirschbaum is a highly experienced hematologist/oncologist with over 30 years of experience in molecular medicine, new drug
development, clinical trial design and patient care. He has management experience in both academic research and clinical and pharmaceutical
settings. He served as Vice President, Hematology/ Oncology at ArQule Inc., where he managed the development of their BTK inhibitor ARQ531
for hematological indications, including CLL. Previously, he was Senior Medical Director with global clinical development responsibilities
at Daiichi-Sankyo, Taiho Pharmaceuticals and BeiGene, USA, where he led the clinical development of novel compounds in various solid
tumors and hematological malignancies. Dr.&nbsp;Kirschbaum has also served as Professor of Medicine, Director of Experimental Therapeutics,
Hematology at the Monter Cancer Center/NSLIJHS; Professor of Medicine, Director Hematologic Malignancies at Penn State, Hershey Cancer
Center; Director of Experimental Therapeutics, Nevada Cancer Institute; Director, New Drug Development at the City of Hope National Cancer
Center, and Attending Senior Physician, Department of Hematology and Department of Bone Marrow Transplantation, Tel Aviv Sourasky Medical
Center. He earned a B.A. from Yeshiva University in New York and received his M.D. from SUNY&thinsp;-&thinsp;Health Sciences Center in
Brooklyn. He did his Residency in Internal Medicine at Kings County Hospital Center in New York and his full clinical Medical Oncology
fellowship at University of Washington. He has also held a Research Fellowship in Oncology at Fred Hutchinson Cancer Research Center
in Seattle.</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"></P>

<!-- Field: Page; Sequence: 22; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: center"><B><A NAME="a_011"></A>EXECUTIVE AND DIRECTOR
COMPENSATION</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"><B>Summary Compensation Table</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; text-align: justify; text-indent: 0.25in">The following table shows
the compensation paid or accrued during the last two fiscal years ended December&nbsp;31, 2022 and 2023 to (1)&nbsp;our President and
Chief Executive Officer, (2)&nbsp;our Executive Vice President, Finance, Chief Financial Officer and Chief Operating Officer, and (3)&nbsp;our
Senior Vice President and Chief Medical Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom"><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif">Name and Principal Position</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Year</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Salary<BR>
    ($)</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Bonus<BR>
    ($)</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Option<BR>
    Awards<BR> ($)(1)</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>All
    Other<BR> Compensation<BR> ($)(2)</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Total<BR>
    ($)</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 34%; font: 10pt Times New Roman, Times, Serif; text-align: left">Spiro Rombotis &nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">2023</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">560,131</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">48,581</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">52,337</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">661,049</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">President and Chief Executive Officer</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2022</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">546,470</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">169,406</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">47,675</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">763,551</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Paul McBarron(3) &nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2023</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">304,214</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">31,003</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">17,398</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">352,615</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">Executive Vice President, Finance, Chief Financial Officer, Chief Operating Officer, Secretary</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2022</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">279,568</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">93,655</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">21,452</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">394,675</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Mark Kirschbaum, MD &nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2023</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">396,760</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">31,003</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">52,855</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">480,618</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">Senior Vice President and Chief Medical Officer</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2022</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">381,500</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">97,644</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">44,699</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">523,843</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<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; text-align: justify">(1)&nbsp;These amounts represent the aggregate
grant date fair value for option awards computed in accordance with FASB ASC Topic 718. A discussion of the assumptions used in determining
grant date fair value may be found in Note 11 to our Financial Statements included in our Annual Report on Form&nbsp;10-K/A for the year
ended December&nbsp;31, 2022. No Options were granted during the year ended December&nbsp;31, 2022 to Spiro Rombotis, Paul McBarron,
or Mark Kirschbaum. Options were granted during the year ended December&nbsp;31, 2023 to Spiro Rombotis, Paul McBarron, and Mark Kirschbaum
in the amounts of 7,333 shares, 4,680 shares, and 4,680 shares, respectively.</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; text-align: justify">(2)&nbsp;Consists of the following for all executive
officers: Payments for private medical and health insurance, life insurance and permanent health insurance; and matching contributions
made under the Company&rsquo;s U.S. 401(k)&nbsp;Plan and U.K. Group Personal Pension Plan.</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; text-align: justify">(3)&nbsp;Mr.&nbsp;McBarron&rsquo;s compensation
was translated from British pound sterling to the U.S. dollar using the exchange rates of 1.35104 as of December&nbsp;31, 2022 and 1.24361
as of December&nbsp;31, 2023.</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; text-align: justify"><B>Narrative Disclosure to Summary Compensation
Table</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; text-align: justify; text-indent: 0.25in">The Compensation and Organization
Development Committee of our Board of Directors makes decisions regarding the compensation of our President and Chief Executive Officer.
The Compensation and Organization Development Committee is composed entirely of independent directors and meets in executive sessions
to discuss and formulate its recommendation for the Chief Executive Officer&rsquo;s base salary and bonus. The Compensation and Organization
Development Committee does not rely solely on any predetermined formula or a limited set of criteria in evaluating the Chief Executive
Officer&rsquo;s performance for the year but does consider the achievement of preset goals as part of its deliberations.</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; text-align: justify; text-indent: 0.25in">The evaluation is based
on the Chief Executive Officer&rsquo;s success in achieving his performance goals, which include financial, strategic and leadership
objectives. The Chief Executive Officer also provides the Compensation and Organization Development Committee with a self-review of his
performance as part of the Company&rsquo;s review process. The Compensation and Organization Development Committee also approves the
annual compensation (including base salary, bonus, and stock-based compensation) for our other named executive officers based on:</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"></P>

<!-- Field: Page; Sequence: 23; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the
                                            executive&rsquo;s scope of responsibilities;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">an
                                            informed market assessment of competitive practices for similar roles within peer group companies;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">evaluations
                                            of performance for the year, as assessed by the Chief Executive Officer, supported by the
                                            Company&rsquo;s performance review process and the executive&rsquo;s self-assessment; and</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">recommendations
                                            by our Chief Executive Officer for each named executive officer with respect to base salary,
                                            cash bonus, and stock-based compensation.</TD></TR></TABLE>

<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; text-align: justify; text-indent: 0.25in">The Compensation and Organization
Development Committee is authorized to engage and retain independent consultants and other experts to assist in fulfilling its responsibilities,
and the Committee engages periodically an external consultant to provide independent verification of market position and ensure the appropriateness
of executive compensation. During the year ended December&nbsp;31, 2023, our Compensation and Organization Development Committee retained
Radford, part of the Aon Rewards Solutions practice, or Radford, an independent, executive compensation consulting firm, to review and
provide recommendations concerning our non-employee director and executive director compensation programs. Radford performed services
solely on behalf of the Compensation and Organization Development Committee and has no relationship with the Company or management beyond
the performance of such services (except that Aon plc provides directors&nbsp;&amp; officers insurance services to the Company). The
Compensation and Organization Development Committee has assessed the independence of Radford pursuant to SEC rules&nbsp;and the corporate
governance rules&nbsp;of The Nasdaq Stock Market and has concluded that no conflict of interest exists that would prevent Radford from
independently representing the Compensation and Organization Development Committee.</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; text-align: justify"><B><I>Committee Consideration of the Company&rsquo;s
2022 Shareholder Advisory Vote on Executive Compensation</I></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; text-align: justify; text-indent: 0.25in">At our 2022 Annual Meeting
of Shareholders, approximately 85.6% of the shares voted at the meeting approved, on an advisory basis, the compensation of the Named
Executive Officers. Given that a majority of the shares voted approved the &lsquo;say on pay&rsquo; advisory proposal, the Committee
did not implement specific changes and continued with its performance-based compensation philosophy and its balanced approach to various
components of its compensation program. However, the Compensation Committee does monitor the results of the annual advisory &lsquo;say-on-pay&rsquo;
proposal and refers to such results as one of many factors considered in connection with the discharge of its responsibilities.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the most recent year ended December&nbsp;31, 2023, the Board of Directors and the Compensation and Organization Development Committee
reviewed the annual compensation for our executive officers. The Compensation and Organization Development Committee determined to provide
increases in base salary for 2023 to Spiro Rombotis, Paul McBarron and Mark Kirschbaum, raising annual salaries to $560,131, &pound;24</FONT>4,622
(or $304,214) and $396,760, respectively.</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; text-align: justify; text-indent: 0.25in">We granted 3,840, 2,080,
and 2,080 restricted stock units to Spiro Rombotis, Paul McBarron and Mark Kirschbaum, respectively, during the year ended December&nbsp;31,
2023.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Spiro
Rombotis, President and Chief Executive Officer</I></FONT>. On April&nbsp;28, 2023, we entered into a two-year employment agreement with
Mr.&nbsp;Spiro Rombotis, effective January&nbsp;1, 2023.</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; text-align: justify; text-indent: 0.25in">Mr.&nbsp;Rombotis&rsquo;
current annual base salary is $560,131, which may be increased in the future in accordance with the terms of his employment agreement.
Mr.&nbsp;Rombotis was paid an annual base salary of $560,131 for the year ending December&nbsp;31, 2023 and $546,470 for the year ending
December&nbsp;31, 2022. Mr.&nbsp;Rombotis is also eligible for a yearly incentive cash bonus, based on a percentage of his then current
base salary, if he meets certain corporate and individual performance criteria set by the Compensation and Organization Development Committee
at the beginning of each year of employment. The agreement also provides for reimbursement of reasonable and necessary expenses incurred
by Mr.&nbsp;Rombotis in connection with his performance of his services. Mr.&nbsp;Rombotis is also entitled to certain employment benefits
in accordance with the Company&rsquo;s benefit policies in effect from time to time.</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"></P>

<!-- Field: Page; Sequence: 24; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: justify; text-indent: 0.25in">In addition, Mr.&nbsp;Rombotis
also agreed to certain confidentiality and assignment of inventions obligations and will be subject to certain non-competition obligations
for a period of one year following termination of his employment.</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; text-align: justify; text-indent: 0.25in">For further information
on terms regarding termination and change-in-control of the Company, see &ldquo;<I>Potential Payments upon Termination or Change-in-Control</I>&rdquo;
below.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Paul
McBarron, Executive Vice President&thinsp;-&thinsp;Finance, Chief Financial Officer, Chief Operating Officer and Secretary</I></FONT>.
On April&nbsp;28, 2023, we entered into a two-year employment agreement with Mr.&nbsp;Paul McBarron, effective January&nbsp;1, 2023.
Mr.&nbsp;McBarron&rsquo;s current annual base salary is $293,546 or &pound;244,622, which may be increased in the future in accordance
with the terms of his employment agreement.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.&nbsp;McBarron
was paid an annual base salary of &pound;24</FONT>4,622, or $304,214 for the year ending December&nbsp;31, 2023 and &pound;226,133, or
$279,568, for the year ending December&nbsp;31, 2022, respectively. Mr.&nbsp;McBarron is also eligible for a yearly incentive cash bonus
based on a percentage of his then current base salary, if he meets certain corporate and individual performance criteria set by the Compensation
and Organization Development Committee at the beginning of each year of employment. The agreement also provides for reimbursement of
reasonable and necessary expenses incurred by Mr.&nbsp;McBarron in connection with the performance of his services. Mr.&nbsp;McBarron
is also entitled to certain employment benefits in accordance with the Company&rsquo;s benefit policies in effect from time to time.</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; text-align: justify; text-indent: 0.25in">In addition, Mr.&nbsp;McBarron
also agreed to certain confidentiality and assignment of inventions obligations and will be subject to certain non-competition obligations
for a period of one year following termination of his employment.</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; text-align: justify; text-indent: 0.25in">For further information
on terms regarding termination and change-in-control of the Company, see &ldquo;<I>Potential Payments upon Termination or Change-in-Control</I>&rdquo;
below.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Mark
Kirschbaum, Senior Vice President and Chief Medical Officer</I></FONT>. On October&nbsp;17, 2020, we entered into an employment agreement
with Dr.&nbsp;Mark Kirschbaum, effective October&nbsp;23, 2020.</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; text-align: justify; text-indent: 0.25in">Dr.&nbsp;Kirschbaum&rsquo;
current annual base salary is $396,760, which may be increased in the future in accordance with the terms of his employment agreement.
Dr.&nbsp;Kirschbaum was paid an annual base salary of $396,760 for the year ending December&nbsp;31, 2023 and $381,500 for the year ending
December&nbsp;31, 2022. Dr.&nbsp;Kirschbaum is also eligible for a yearly incentive cash bonus, based on a percentage of his then current
base salary, if he meets certain corporate and individual performance criteria set by the Compensation and Organization Development Committee
at the beginning of each year of employment. The agreement also provides for reimbursement of reasonable and necessary expenses incurred
by Dr.&nbsp;Kirschbaum in connection with his performance of his services. Dr.&nbsp;Kirschbaum is also entitled to certain employment
benefits in accordance with the Company&rsquo;s benefit policies in effect from time to time.</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; text-align: justify; text-indent: 0.25in">In addition, Dr.&nbsp;Kirschbaum
also agreed to certain confidentiality and assignment of inventions obligations and will be subject to certain non-competition obligations
for a period of one year following termination of his employment.</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"></P>

<!-- Field: Page; Sequence: 25; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: center"><B><A NAME="a_012"></A>EQUITY COMPENSATION PLAN
INFORMATION</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"><B>Outstanding Equity Awards at 2023 Fiscal Year-End</B></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The following table shows
grants of stock options outstanding on the last day of the fiscal year ended December&nbsp;31, 2023, to each of the executive officers
named in the Summary Compensation Table. As applicable, the figures described in this section have been adjusted to give effect to the
reverse stock split completed on December&nbsp;15, 2023.</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 STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid">Name</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Number
    of <BR> Securities <BR> Underlying <BR> Options <BR> Exercisable</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Number
    of <BR> Securities <BR> Underlying <BR> Options <BR> Unexercisable</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Option
    <BR> Exercise <BR> Price(1)&nbsp;<BR> ($)</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Option <BR> Expiration
    <BR> Date</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 20%; font: 10pt Times New Roman, Times, Serif; text-align: left">Spiro Rombotis</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font: 10pt Times New Roman, Times, Serif; text-align: right">22</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">(2)</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; font: 10pt Times New Roman, Times, Serif; text-align: right">3,096.00</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 19%; font: 10pt Times New Roman, Times, Serif; text-align: right">02/18/2025</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">121</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(3)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,120.40</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12/07/2025</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">104</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(4)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">522.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12/29/2027</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">95</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(4)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">468.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">02/22/2028</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,693</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(5)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">213.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">01/04/2029</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">11,666</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(6)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">64.80</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12/11/2030</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">9,500</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(8)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">3,166</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">51.75</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12/13/2031</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(9)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">7,333</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">8.70</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">06/27/2033</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Paul McBarron</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">14</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(2)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">3,096</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">02/18/2025</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">72</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(3)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,120.40</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12/07/2025</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">86</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(4)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">522.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12/29/2027</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">79</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(4)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">468.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">02/22/2028</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">900</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(5)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">213.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">01/04/2029</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">8,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(6)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">64.80</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12/11/2030</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">5,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(8)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,666</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">51.75</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12/13/2031</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(9)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4,680</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">8.70</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">06/27/2033</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Mark Kirschbaum</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">8,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(7)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">56.55</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">10/23/2030</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">5,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(8)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,666</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">51.75</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12/13/2031</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(9)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4,680</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">8.70</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">06/27/2033</TD></TR>
  </TABLE>


<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; text-align: justify">(1)&nbsp;The option exercise price is the closing
price of our common stock on The Nasdaq Capital Market on the date the option was granted.</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; text-align: justify">(2)&nbsp;These options were granted on February&nbsp;18,
2015, and vest ratably on a monthly basis over 36 months.</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; text-align: justify">(3)&nbsp;These options were granted on December&nbsp;7,
2015, and vest ratably on a monthly basis over 36 months.</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; text-align: justify">(4)&nbsp;Certain performance criteria were deemed
to have been met in 2018 and 2019, and as such, performance-based options granted in 2017 and 2018 vested.</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; text-align: justify">(5)&nbsp;These options were granted on January&nbsp;4,
2019 and included part of the 2018 bonus award, and vest ratably on a monthly basis over 36 months.</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; text-align: justify">(6)&nbsp;These options were granted on December&nbsp;11,
2020, and vest ratably on a monthly basis over 36 months.</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; text-align: justify">(7)&nbsp;These options were granted on October&nbsp;23,
2020 and vest over 36 months as to one third (1/3) of the shares on the first anniversary of the Grant Date and as to one thirty-sixth
(1/36) of the total number shares monthly thereafter.</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"></P>

<!-- Field: Page; Sequence: 26; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: justify">(8)&nbsp;These options were granted on December&nbsp;13,
2021, and vest ratably on a monthly basis over 36 months.</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; text-align: justify">(9)&nbsp;These options were granted on June&nbsp;27,
2023, and vest on achievement of certain performance criteria.</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; text-align: justify"><B>Potential Payments Upon Termination or Change-in-Control</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; text-align: justify; text-indent: 0.25in">We have entered into agreements
that require us to make payments and/or provide benefits to certain of our executive officers in the event of a termination of employment
or change-in-control. Our 2006 Equity Incentive Plan, or 2006 Plan, our 2015 Equity Incentive Plan, or 2015 Plan, our 2018 Equity Incentive
Plan, or 2018 Plan, and our 2020 Inducement Equity Incentive Plan, or 2020 Plan (and collectively with the 2006 Plan, 2015 Plan, and
2018 Plan the &ldquo;Plans&rdquo;) provide for payments to named executive officers in connection with a termination or a change-in-control
of the Company.</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; text-align: justify; text-indent: 0.25in">The following summarizes
the potential payments to certain of our executive officers with whom we have entered into an employment agreement that includes a payment
upon termination and/or a change-in-control, as further described below.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Spiro
Rombotis, President and Chief Executive Officer</I></FONT>. Mr.&nbsp;Rombotis&rsquo;s employment agreement provides for certain severance
arrangements. In the event that Mr.&nbsp;Rombotis&rsquo;s employment is terminated &ldquo;without cause,&rdquo; other than termination
in connection with a &ldquo;change of control&rdquo; (each as defined in the employment agreement), we will be required to pay Mr.&nbsp;Rombotis
(i)&nbsp;all accrued but unpaid compensation up to the time of such termination; (ii)&nbsp;for a period of twelve months following such
termination, severance payments in the form of his base salary as in effect immediately prior to such termination, or Severance Payments,
including form of continuation coverage of his medical care and life insurance on the same terms as applicable to other executive employees,
unless Mr.&nbsp;Rombotis obtains substitute coverage; and (iii)&nbsp;a period of six months in which to exercise all vested options held
by Mr.&nbsp;Rombotis. In the event that Mr.&nbsp;Rombotis&rsquo;s employment is terminated within six months following a &ldquo;change-in-control&rdquo;
event, Mr.&nbsp;Rombotis will be entitled to (i)&nbsp;all accrued but unpaid compensation up to the time of such termination; (ii)&nbsp;Severance
Payments for a period of 24 months; (iii)&nbsp;out-of-pocket expenses reasonably incurred by Mr.&nbsp;Rombotis in connection with his
and his family&rsquo;s relocation to London; and (iv)&nbsp;eighteen months&rsquo; accelerated vesting of any options held by him. In
the event of termination due to his death or disability, we will pay Mr.&nbsp;Rombotis (or his estate, as the case may be) (i)&nbsp;all
accrued but unpaid compensation up to the time of such termination and (ii)&nbsp;Severance Payments for a period of twelve months. He
(or his estate, as the case may be) would also be entitled to a period of twelve months in which all of his vested options can be exercised.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Paul
McBarron, Executive Vice President&thinsp;-&thinsp;Finance, Chief Financial Officer, Chief Operating Officer and Secretary</I></FONT>.
Mr.&nbsp;McBarron&rsquo;s employment agreement provides for certain severance arrangements. In the event that Mr.&nbsp;McBarron&rsquo;s
employment is terminated &ldquo;without cause,&rdquo; other than termination in connection with a &ldquo;change of control&rdquo; (each
as defined in his employment agreement), we will be required to pay Mr.&nbsp;McBarron (i)&nbsp;all accrued but unpaid compensation up
to the time of such termination; (ii)&nbsp;Severance Payments for a period of twelve months following such termination; and (iii)&nbsp;a
period of six months in which to exercise all vested options held by Mr.&nbsp;McBarron. In the event that Mr.&nbsp;McBarron&rsquo;s employment
is terminated within six months following a &ldquo;change-in-control&rdquo; event, Mr.&nbsp;McBarron will be entitled (i)&nbsp;all accrued
but unpaid compensation up to the time of such termination; (ii)&nbsp;Severance Payments for a period of twelve months; and (iii)&nbsp;eighteen
months&rsquo; accelerated vesting of any options held by him. In the event of termination due to his death or disability, we will pay
Mr.&nbsp;McBarron (or his estate, as the case may be) all accrued but unpaid compensation up to the time of such termination and Severance
Payments for a period of twelve months. He (or his estate, as the case may be) would also be entitled to a period of twelve months in
which all of his vested options can be exercised.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Potential
payments to each named executive officer under our Plans in connection with a termination or a change-in-control of the Company. </I></FONT>The
following summarizes the potential payments to each named executive officer under the Plans in connection with a termination or a change-in-control
of the Company.</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"></P>

<!-- Field: Page; Sequence: 27; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Termination
For Cause</I></B></FONT>. If an award recipient&rsquo;s service relationship with the Company terminates for &ldquo;cause&rdquo; (as
defined in the Plans), then any unexercised award shall terminate immediately upon his or her termination of service.</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; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Termination
Without Cause</I></B></FONT>. If an award recipient&rsquo;s service relationship with the Company terminates for any reason other than
for &ldquo;cause&rdquo; (excluding death or disability), then the recipient generally may exercise the award, to the extent vested, within
30 days (in our 2006 Plan) or three months (in our 2015 Plan, 2018 Plan, and 2020 Plan), of such termination to the extent that the award
is vested on the date of termination (but in no event later than the expiration of the term of the award as set forth in the award agreement).
If the recipient dies within three months following such a termination, the award generally may be exercised, to the extent vested, within
180 days&rsquo; or one year (as per the 2006 Plan, 2015 Plan, 2018 Plan, and 2020 Plan, respectively) of the recipient&rsquo;s death.
If an award recipient&rsquo;s service relationship with the Company terminates due to his or her death, the award recipient&rsquo;s personal
representative, estate, or the person who acquires the right to exercise the award by bequest or inheritance, as the case may be, generally
may exercise the award, to the extent the award was vested on the date of termination, within one year from the date of the recipient&rsquo;s
death. Pursuant to the 2006 Plan, if an award recipient&rsquo;s service relationship with the Company terminates due to his or her disability,
the recipient, the recipient&rsquo;s personal representative, estate, or the person who acquires the right to exercise the award by bequest
or inheritance, as the case may be, generally may exercise the award, to the extent exercisable on the date of termination, within one
year from the date of the recipient&rsquo;s termination, or if the recipient dies during such one-year period, within the later of one
year from the date of the recipient&rsquo;s termination and 180 days from the recipient&rsquo;s death. In no event may an award be exercised
later than the expiration of the term of the award as set forth in the award agreement. Pursuant to the 2015 Plan, 2018 Plan, and 2020
Plan, with regard to options outstanding on the date of an individual&rsquo;s termination due to disability, he or she may exercise any
option to the extent that the option is exercisable but has not been exercised on the date of termination. Such an individual is also
entitled to any additional vesting rights that would have accrued on the next vesting date had he or she not become disabled. Exercise
may only occur during the one-year period after the date of termination. With regard to stock grants and stock-based awards outstanding
on the date of an individual&rsquo;s termination due to disability, to the extent the forfeiture provisions or the Company&rsquo;s rights
of repurchase have not lapsed, they shall be exercisable; provided, however, that in the event such forfeiture provisions or rights of
repurchase lapse periodically, they shall lapse to the extent of a pro rata portion of the shares subject to such stock grant or stock-based
award through the date of disability as would have lapsed had the individual not become disabled.</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; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Change-in-Control</I></B></FONT>.
Pursuant to the terms of the Plans, in the event of a change-in-control (as defined in the Plans), all outstanding awards granted under
the Plans will be either:</P>

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

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">assumed
                                            by the successor corporation or a parent or subsidiary of the successor corporation; or</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">substituted
                                            with an equivalent award by the successor corporation or a parent or subsidiary of the successor
                                            corporation.</TD></TR></TABLE>

<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; text-align: justify">However, in the event that the successor corporation
refuses to assume or substitute an award:</P>

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

<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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">awards
                                            consisting of options, stock appreciation rights and rights to purchase restricted stock
                                            will become fully vested and immediately exercisable, including awards that would not otherwise
                                            have become vested or exercisable; and</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">all
                                            other awards will become fully earned and eligible to receive a payout.</TD></TR></TABLE>

<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; text-align: justify">For the purposes of the Plans, a participant&rsquo;s
award will be considered assumed if, following the change-in-control, the assumed award confers, for each share of the Company&rsquo;s
common stock subject to the award immediately prior to the change-in-control, the right to receive the consideration (whether stock,
cash, or other securities or property) received in the change-in-control for each share of common stock held on the effective date of
the transaction; provided, however, that if the consideration received in the change-in-control is not solely common stock of the successor
corporation or its parent, the committee administering the plan may, with the consent of the successor corporation, provide for the consideration
per share to be received upon the exercise of the award, to be solely common stock of the successor corporation or its parent equal in
fair market value to the per share consideration received by holders of the Company&rsquo;s common stock in the change-in-control.</P>

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

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

<!-- Field: Page; Sequence: 28; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<!-- Field: Split-Segment; Name: 1 -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the Plans, a change-in-control is the occurrence
of one of the following events:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a
                                            person, partnership, joint venture, corporation or other entity, or two or more of any of
                                            the foregoing acting as a group (or any &ldquo;person&rdquo; within the meaning of Sections
                                            13(d)(3)&nbsp;and 14(d)&nbsp;of the Exchange Act), other than the Company, a Subsidiary,
                                            or an employee benefit plan (or related trust) of the Company or a Subsidiary, become(s)&nbsp;the
                                            &ldquo;beneficial owner&rdquo;&nbsp;(as defined in Rule&nbsp;13d-3 under the Exchange Act)
                                            of 30% or more of the then-outstanding voting stock of the Company;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">during
                                            any period of two consecutive years, individuals who at the beginning of such period constitute
                                            the Board of Directors (together with any new director whose election by the Board of Directors
                                            or whose nomination for election by the Company&rsquo;s stockholders, was approved by a vote
                                            of at least two-thirds of the directors then still in office who either were directors at
                                            the beginning of such period or whose election or nomination for election was previously
                                            so approved) cease for any reason to constitute a majority of the directors then in office;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">all
                                            or substantially all of the business of the Company is disposed of pursuant to a merger,
                                            consolidation or other transaction in which the Company is not the surviving corporation
                                            or the Company combines with another Company and is the surviving corporation (unless the
                                            stockholders of the Company immediately following such merger, consolidation, combination,
                                            or other transaction beneficially own, directly or indirectly, more than 50% of the aggregate
                                            voting stock or other ownership interests of (x)&nbsp;the entity or entities, if any, that
                                            succeed to the business of the Company or (y)&nbsp;the combined company);</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the
                                            Company is a party to a merger, consolidation, sale of assets or other reorganization, or
                                            a proxy contest, as a consequence of which the Board of Directors in office immediately prior
                                            to such transaction or event constitutes less than a majority of the Board of Directors thereafter;
                                            or the stockholders of the Company approve a sale of all or substantially all of the assets
                                            of the Company or a liquidation or dissolution of the Company.</TD></TR></TABLE>

<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; text-align: justify"><B>Director Compensation</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; text-align: justify; text-indent: 0.25in">The following table shows
the total compensation paid or accrued during the fiscal year ended December&nbsp;31, 2023 to each of our non-employee directors. Directors
who are employed by us are not compensated for their service on our Board of Directors. As applicable, the figures described in this
section have been adjusted to give effect to the reverse stock split completed on December&nbsp;15, 2023.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Name</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Fees Earned
    or <BR> Paid in Cash <BR> ($)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Option
    <BR> Awards <BR> ($)(1)(2)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Stock <BR>
    Awards <BR> ($)(1)(3)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Total <BR>
    ($)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 48%; text-align: justify">Christopher S. Henney, Ph.D. D.Sc</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">105,500</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">18,991</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">12,500</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">136,991</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Robert J. Spiegel, M.D.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">84,500</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">18,991</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12,500</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">115,991</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Samuel L. Barker, Ph.D.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">66,500</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">18,991</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12,500</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">97,991</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Kenneth M. Ferguson, Ph.D.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">54,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">18,991</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12,500</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">85,491</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Brian Schwartz, M.D.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">53,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">18,991</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12,500</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">84,491</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Karin L. Walker</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">64,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">18,991</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12,500</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">95,491</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>



<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; text-align: justify">(1)&nbsp;These amounts represent the aggregate
grant date fair value of options and restricted stock units granted to each director during the year ended December&nbsp;31, 2023 computed
in accordance with FASB ASC Topic 718. A discussion of the assumptions used in determining grant date fair value may be found in Note
11 to our financial statements included on our Form&nbsp;10-K/A for the fiscal year ended December&nbsp;31, 2023.</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; text-align: justify">(2)&nbsp;The fair value of the options granted
on June&nbsp;30, 2023 was $6.71 per share. Each non-employee director held an aggregate of 2,829 stock options as of December&nbsp;31,
2023.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(3)&nbsp;The fair value of RSUs granted on June&nbsp;30,
2023 was $8.84 per share. Each non-employee director held an aggregate of 1,415 RSUs as of December&nbsp;31, 2023.</P>

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

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

<!-- Field: Page; Sequence: 29; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: center"></P>

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Under the terms of our Director
Compensation Program, the non-employee members of our Board of Directors are paid a fixed annual fee, payable on a quarterly basis, in
arrears, on the first day of each quarter, as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 87%; text-align: left">Chairman of the Board</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">85,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Vice Chairman of the Board</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">65,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Other Non-Management Board Members</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">45,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>


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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The Chair of each of the
various committees of the Board of Directors will also receive the following fixed annual fee, payable on a quarterly basis, in arrears,
on the first day of each quarter, as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 87%">Audit</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">15,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Compensation and Organization Development</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">10,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Nominating and Corporate Governance</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">8,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Science and Technology</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">8,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<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; text-align: justify; text-indent: 0.25in">The non-Chair members of
each of the various committees of the Board of Directors will also receive the following fixed annual member fee, payable on a quarterly
basis, in arrears, on the first day of each quarter, as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 87%; text-align: justify">Audit</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">7,500</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Compensation and Organization Development</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">5,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Nominating and Corporate Governance</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Science and Technology</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In addition, the non-employee
members of our Board of Directors are entitled to receive stock options and / or restricted stock options (RSUs) on their initial appointment
to the Board and on an annual basis on the date of the Company&rsquo;s annual meeting, such options and RSUs to vest fully on the first
anniversary of the date of the grant. The non-employee directors are also reimbursed for customary business expenses in connection with
attending Board of Directors and committee meetings.</P>

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

<!-- Field: Page; Sequence: 30; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: justify"><B>Equity Compensation Plan Information</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; text-align: justify; text-indent: 0.25in">The following table provides
certain aggregate information with respect to all of our equity compensation plans in effect as of December&nbsp;31, 2023. As applicable,
the figures described in this section have been adjusted to give effect to the reverse stock split completed on December&nbsp;15, 2023.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">(a)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">(b)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">(c)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif">Plan Category</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Number
    of <BR> Securities to be <BR> issued upon <BR> exercise of <BR> outstanding <BR> options, <BR> warrants and <BR> rights</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Weighted
    <BR> average <BR> exercise price <BR> of outstanding <BR> options, <BR> warrants, <BR> and rights</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Number
    of <BR> Securities <BR> remaining <BR> available for <BR> future issuance <BR> under equity <BR> compensation <BR> plans (excluding
    <BR> securities <BR> reflected in <BR> column (a))</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 61%; text-align: left">Total equity compensation plans approved by security
    holders(1)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">137,446</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">59.11</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">22,466</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Equity compensation plans not approved by security holders(2)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">8,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">56.55</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">5,333</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<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">(1)&nbsp;Consists of our 2018 Plan, our 2015 Plan, and our 2006 Plan.
The Plans provide for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock,
restricted stock units and performance units. There were no shares available for issuance, as of the date hereof, under the 2006 Plan
or the 2015 Plan.</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">(2)&nbsp;Consists of our 2020 Plan. The 2020 Plan provides for the
grant of nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units and performance units.</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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="b_001"></A>CERTAIN RELATIONSHIPS AND
RELATED PERSON TRANSACTIONS</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; text-indent: 0.25in">Our Audit Committee reviews and approves in advance
all related-party transactions. Except as described below, there have been no transactions during our last two fiscal years with our
directors and officers and beneficial owners of more than 5% of our voting securities and their affiliates.</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; text-align: justify; text-indent: 0.25in">On December&nbsp;21, 2023,
in the Insider Private Placement, we entered into the Insider Securities Purchase Agreement pursuant to which we agreed to sell in a
private placement (i)&nbsp;6,070 shares of common stock and warrants to purchase 6,070 shares of common stock on the same terms as the
Private Warrants issued to the Purchasers in the Offerings to Spiro Rombotis, our Chief Executive Officer, and (ii)&nbsp;1,886 shares
of common stock and warrants to purchase 1,886 shares of common stock on the same terms as the Private Warrants issued to the Purchasers
in the Offerings to Paul McBarron, our Executive Vice President-Finance, Chief Financial Officer and Chief Operating Officer. Each such
share of common stock and accompanying warrant was sold at a purchase price of $3.315, which was the same purchase price for the Shares
sold in the Registered Direct Offering.</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"></P>

<!-- Field: Page; Sequence: 31; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="b_002"></A>PLAN
OF DISTRIBUTION</B></FONT></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; text-align: justify; text-indent: 0.25in">Each selling stockholder
of the shares of the securities and any of their pledgees, assignees and successors-in-interest may, from time to time, sell any or all
of their securities covered hereby on Nasdaq or any other stock exchange, market or trading facility on which the securities are traded
or in private transactions. These sales may be at fixed or negotiated prices. A selling stockholder may use any one or more of the following
methods when selling securities:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">ordinary
                                            brokerage transactions and transactions in which the broker-dealer solicits purchasers;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">block
                                            trades in which the broker-dealer will attempt to sell the securities as agent but may position
                                            and resell a portion of the block as principal to facilitate the transaction;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">purchases
                                            by a broker-dealer as principal and resale by the broker-dealer for its account;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">an
                                            exchange distribution in accordance with the rules&nbsp;of the applicable exchange;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">privately
                                            negotiated transactions;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">settlement
                                            of short sales;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">in
                                            transactions through broker-dealers that agree with the Selling Stockholders to sell a specified
                                            number of such securities at a stipulated price per security;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">through
                                            the writing or settlement of options or other hedging transactions, whether through an options
                                            exchange or otherwise;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a
                                            combination of any such methods of sale; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any
                                            other method permitted pursuant to applicable law.</TD></TR></TABLE>

<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; text-align: justify; text-indent: 0.25in">The Selling Stockholders
may also sell securities under Rule&nbsp;144 or any other exemption from registration under the Securities Act, if available, rather
than under this prospectus.</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; text-align: justify; text-indent: 0.25in">Broker-dealers engaged by
the Selling Stockholders may arrange for other brokers-dealers to participate in sales. Broker-dealers may receive commissions or discounts
from the Selling Stockholders (or, if any broker-dealer acts as agent for the purchaser of securities, from the purchaser) in amounts
to be negotiated, but, except as set forth in a supplement to this Prospectus, in the case of an agency transaction not in excess of
a customary brokerage commission in compliance with FINRA Rule&nbsp;2440; and in the case of a principal transaction a markup or markdown
in compliance with FINRA IM-2440.</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; text-align: justify; text-indent: 0.25in">In connection with the sale
of the securities or interests therein, the Selling Stockholders may enter into hedging transactions with broker-dealers or other financial
institutions, which may in turn engage in short sales of the securities in the course of hedging the positions they assume. The Selling
Stockholders may also sell securities short and deliver these securities to close out their short positions, or loan or pledge the securities
to broker-dealers that in turn may sell these securities. The Selling Stockholders may also enter into option or other transactions with
broker-dealers or other financial institutions or create one or more derivative securities which require the delivery to such broker-dealer
or other financial institution of securities offered by this prospectus, which securities such broker-dealer or other financial institution
may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction).</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; text-align: justify; text-indent: 0.25in">The Selling Stockholders
and any broker-dealers or agents that are involved in selling the securities may be deemed to be &ldquo;underwriters&rdquo; within the
meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers or agents
and any profit on the resale of the securities purchased by them may be deemed to be underwriting commissions or discounts under the
Securities Act. Each Selling Stockholder has informed the Company that it does not have any written or oral agreement or understanding,
directly or indirectly, with any person to distribute the securities.</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; text-align: justify; text-indent: 0.25in">The Company is required
to pay certain fees and expenses incurred by the Company incident to the registration of the securities. The Company has agreed to indemnify
the Selling Stockholders against certain losses, claims, damages and liabilities, including liabilities under the Securities Act.</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"></P>

<!-- Field: Page; Sequence: 32; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: justify; text-indent: 0.25in">We agreed to keep this prospectus
effective until the earlier of (i)&nbsp;the date on which the securities may be resold by the Selling Stockholders without registration
and without regard to any volume or manner-of-sale limitations by reason of Rule&nbsp;144, without the requirement for the Company to
be in compliance with the current public information under Rule&nbsp;144 under the Securities Act or any other rule&nbsp;of similar effect
or (ii)&nbsp;all of the securities have been sold pursuant to this prospectus or Rule&nbsp;144 under the Securities Act or any other
rule&nbsp;of similar effect. The resale securities will be sold only through registered or licensed brokers or dealers if required under
applicable state securities laws. In addition, in certain states, the resale securities covered hereby may not be sold unless they have
been registered or qualified for sale in the applicable state or an exemption from the registration or qualification requirement is available
and is complied with.</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; text-align: justify; text-indent: 0.25in">Under applicable rules&nbsp;and
regulations under the Exchange Act, any person engaged in the distribution of the resale securities may not simultaneously engage in
market making activities with respect to the common stock for the applicable restricted period, as defined in Regulation M, prior to
the commencement of the distribution. In addition, the Selling Stockholders will be subject to applicable provisions of the Exchange
Act and the rules&nbsp;and regulations thereunder, including Regulation M, which may limit the timing of purchases and sales of the common
stock by the Selling Stockholders or any other person. We will make copies of this prospectus available to the Selling Stockholders and
have informed them of the need to deliver a copy of this prospectus to each purchaser at or prior to the time of the sale (including
by compliance with Rule&nbsp;172 under the Securities Act).</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-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="b_003"></A>DESCRIPTION
OF OUR COMMON STOCK</B></FONT></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; text-align: justify; text-indent: 0.25in">We are authorized to issue
100,000,000 shares of common stock, $0.001 par value per share. As of January&nbsp;17, 2024, 1,318,257 shares of common stock were issued
and outstanding. The following descriptions of our common stock and provisions of our amended and restated certificate of incorporation
and amended and restated by-laws are only summaries, and we encourage you to review complete copies of these documents, which have been
filed as exhibits to our periodic reports with the SEC.</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"><B>Transfer Agent</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; text-align: justify; text-indent: 0.25in">Our transfer agent and registrar
for our common stock is Equiniti Trust Company, LLC.</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"><B>Listing</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; text-align: justify; text-indent: 0.25in">Our common stock is listed
for quotation on The Nasdaq Capital Market under the symbol &ldquo;CYCC.&rdquo;</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"><B>Dividends, Voting Rights and Liquidation</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; text-align: justify; text-indent: 0.25in">Holders of common stock
are entitled to one vote for each share held of record on all matters submitted to a vote of the stockholders, and do not have cumulative
voting rights. Subject to preferences that may be applicable to any outstanding shares of preferred stock, holders of common stock are
entitled to receive ratably such dividends, if any, as may be declared from time to time by our board of directors out of funds legally
available for dividend payments. All outstanding shares of common stock are fully paid and non-assessable, and the shares of common stock
to be issued upon completion of this offering will be fully paid and non-assessable. The holders of common stock have no preferences
or rights of conversion, exchange, pre-emption or other subscription rights. There are no redemption or sinking fund provisions applicable
to the common stock. In the event of any liquidation, dissolution or winding-up of our affairs, holders of common stock will be entitled
to share ratably in our assets that are remaining after payment or provision for payment of all of our debts and obligations and after
liquidation payments to holders of outstanding shares of preferred stock, if any.</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"><B>Delaware Law and Certain Charter and By-law Provisions</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; text-align: justify; text-indent: 0.25in">The provisions of (1)&nbsp;Delaware
law, (2)&nbsp;our amended and restated certificate of incorporation, and (3)&nbsp;our amended and restated bylaws discussed below could
discourage or make it more difficult to accomplish a proxy contest or other change in our management or the acquisition of control by
a holder of a substantial amount of our voting stock. It is possible that these provisions could make it more difficult to accomplish,
or could deter, transactions that stockholders may otherwise consider to be in their best interests or in our best interests. These provisions
are intended to enhance the likelihood of continuity and stability in the composition of our board of directors and in the policies formulated
by the board of directors and to discourage certain types of transactions that may involve an actual or threatened change of control
of us. These provisions are designed to reduce our vulnerability to an unsolicited acquisition proposal. The provisions also are intended
to discourage certain tactics that may be used in proxy fights. Such provisions also may have the effect of preventing changes in our
management.</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"></P>

<!-- Field: Page; Sequence: 33; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Delaware
Statutory Business Combinations Provision.</I></FONT>&nbsp;We are subject to the anti-takeover provisions of Section&nbsp;203 of the
Delaware General Corporation Law. In general, Section&nbsp;203 prohibits a publicly-held Delaware corporation from engaging in a &ldquo;business
combination&rdquo; with an &ldquo;interested stockholder&rdquo; for a period of three years after the date of the transaction in which
the person became an interested stockholder, unless the business combination is, or the transaction in which the person became an interested
stockholder was, approved in a prescribed manner or another prescribed exception applies.</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; text-align: justify; text-indent: 0.25in">For purposes of Section&nbsp;203,
a &ldquo;business combination&rdquo; is defined broadly to include a merger, asset sale or other transaction resulting in a financial
benefit to the interested stockholder, and, subject to certain exceptions, an &ldquo;interested stockholder&rdquo; is a person who, together
with his or her affiliates and associates, owns (or within three years prior, did own) 15% or more of the corporation&rsquo;s voting
stock.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Classified
Board of Directors; Removal of Directors for Cause.</I></FONT>&nbsp;Our amended and restated certificate of incorporation and amended
and restated bylaws provide that our board of directors is divided into three classes, each serving staggered three-year terms ending
at the annual meeting of our stockholders. All directors elected to our classified board of directors will serve until the election and
qualification of their respective successors or their earlier resignation or removal. The board of directors is authorized to create
new directorships and to fill such positions so created and is permitted to specify the class to which any such new position is assigned.
The person filling such position would serve for the term applicable to that class. The board of directors (or its remaining members,
even if less than a quorum) is also empowered to fill vacancies on the board of directors occurring for any reason for the remainder
of the term of the class of directors in which the vacancy occurred. Members of the board of directors may only be removed for cause
and only by the affirmative vote of 80% of our outstanding voting stock. These provisions are likely to increase the time required for
stockholders to change the composition of the board of directors. For example, in general, at least two annual meetings will be necessary
for stockholders to effect a change in a majority of the members of the board of directors.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Advance
Notice Provisions for Stockholder Proposals and Stockholder Nominations of Directors.</I></FONT>&nbsp;Our amended and restated bylaws
provide that, for nominations to the board of directors or for other business to be properly brought by a stockholder before a meeting
of stockholders, the stockholder must first have given timely notice of the proposal in writing to our Secretary. For an annual meeting,
a stockholder&rsquo;s notice generally must be delivered not less than 45 days nor more than 75 days prior to the anniversary of the
mailing date of the proxy statement for the previous year&rsquo;s annual meeting. For a special meeting, the notice must generally be
delivered by the later of 90 days prior to the special meeting or ten days following the day on which public announcement of the meeting
is first made. Detailed requirements as to the form of the notice and information required in the notice are specified in the amended
and restated bylaws. If it is determined that business was not properly brought before a meeting in accordance with our bylaw provisions,
such business will not be conducted at the meeting.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Special
Meetings of Stockholders.</I></FONT>&nbsp;Special meetings of the stockholders may be called only by our board of directors pursuant
to a resolution adopted by a majority of the total number of directors.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>No
Stockholder Action by Written Consent.</I></FONT>&nbsp;Our amended and restated certificate of incorporation and amended and restated
bylaws do not permit our stockholders to act by written consent. As a result, any action to be effected by our stockholders must be effected
at a duly called annual or special meeting of the stockholders.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Super-Majority
Stockholder Vote Required for Certain Actions.</I></FONT>&nbsp;The Delaware General Corporation Law provides generally that the affirmative
vote of a majority of the shares entitled to vote on any matter is required to amend a corporation&rsquo;s certificate of incorporation
or bylaws, unless the corporation&rsquo;s certificate of incorporation or bylaws, as the case may be, requires a greater percentage.
Our amended and restated certificate of incorporation requires the affirmative vote of the holders of at least 80% of our outstanding
voting stock to amend or repeal any of the provisions discussed in this section of this prospectus entitled &ldquo;Anti-Takeover Provisions&rdquo;
or to reduce the number of authorized shares of common stock or preferred stock. This 80% stockholder vote would be in addition to any
separate class vote that might in the future be required pursuant to the terms of any preferred stock that might then be outstanding.
In addition, an 80% vote is also required for any amendment to, or repeal of, our amended and restated bylaws by the stockholders. Our
amended and restated bylaws may be amended or repealed by a simple majority vote of the board of directors.</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"></P>

<!-- Field: Page; Sequence: 34; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: center; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B><A NAME="b_004"></A>DISCLOSURE
OF COMMISSION POSITION ON INDEMNIFICATION FOR SECURITIES ACT LIABILITIES</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; text-indent: 0.25in">Section&nbsp;145 of the
Delaware General Corporation Law (the &ldquo;DGCL&rdquo;) authorizes a court to award, or a corporation&rsquo;s board of directors to
grant, indemnity to directors and officers in terms sufficiently broad to permit such indemnification under certain circumstances for
liabilities (including reimbursement for expenses incurred) arising under the&nbsp;Securities Act of 1933. Our amended and restated certificate
of incorporation limits the liability of our officers and directors to the fullest extent permitted by the DGCL, and our amended and
restated certificate of incorporation provides that we will indemnify our officers and directors to the fullest extent permitted by such
law.</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; text-align: justify; text-indent: 0.25in">Insofar as indemnification
for liabilities arising under the&nbsp;Securities Act of 1933&nbsp;may be permitted to directors, officers or persons controlling the
registrant pursuant to the foregoing provisions, the registrant has been informed that in the opinion of the SEC such indemnification
is against public policy as expressed in the&nbsp;Securities Act&nbsp;and is therefore unenforceable.</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-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="b_005"></A>LEGAL
MATTERS</B></FONT></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; text-align: justify; text-indent: 0.25in">Mintz, Levin, Cohn, Ferris,
Glovsky and Popeo, P.C., New York, New York, will pass upon the validity of the issuance of the securities offered by this prospectus.</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-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="b_006"></A>EXPERTS</B></FONT></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; text-align: justify; text-indent: 0.25in">The consolidated financial
statements of Cyclacel Pharmaceuticals,&nbsp;Inc. as of December&nbsp;31, 2022 and 2021 and for each of the years in the two-year period
ended December&nbsp;31, 2022 incorporated in this Prospectus by reference from the Cyclacel Pharmaceuticals,&nbsp;Inc. <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1130166/000155837023003163/cycc-20221231x10k.htm" STYLE="-sec-extract: exhibit">Annual
Report on Form&nbsp;10-K for the year ended December&nbsp;31, 2022</A> have been audited by RSM US LLP, an independent registered public
accounting firm, as stated in their report thereon (which report expresses an unqualified opinion and includes an explanatory paragraph
related to substantial doubt about the Company&rsquo;s ability to continue as a going concern), incorporated herein by reference, and
have been incorporated in this Prospectus and Registration Statement in reliance upon such report and upon the authority of such firm
as experts in accounting and auditing.</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-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase; background-color: white"><B><A NAME="b_007"></A>WHERE
YOU CAN FIND MORE INFORMATION</B></FONT></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; text-align: justify; text-indent: 0.25in">We file annual, quarterly
and other periodic reports, proxy statements and other information with the SEC. You can read our SEC filings over the Internet at <FONT STYLE="background-color: white">the
</FONT>SEC&rsquo;s website at www.sec.gov.</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; text-align: justify; text-indent: 0.25in">Our Internet address is
www.cyclacel.com. There we make available free of charge, on or through the investor relations section of our website, annual reports
on <FONT STYLE="background-color: white">Form</FONT>&nbsp;10-K, quarterly reports on Form&nbsp;10-Q, current reports on Form&nbsp;8-K
and amendments to those reports filed pursuant to Section&nbsp;13(a)&nbsp;or 15(d)&nbsp;of the Exchange Act as soon as reasonably practicable
after we electronically file such material with the SEC. The information found on our website is not part of this prospectus.</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; text-align: justify; text-indent: 0.25in">The SEC maintains a <FONT STYLE="background-color: white">website
</FONT>at http://www.sec.gov that contains reports, proxy and information statements and other information regarding issuers that file
electronically with the SEC.</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-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase; background-color: white"><B><A NAME="b_008"></A>INCORPORATION
OF CERTAIN DOCUMENTS BY REFERENCE</B></FONT></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; text-align: justify; text-indent: 0.25in">The SEC&rsquo;s rules&nbsp;allow
us to &ldquo;incorporate by reference&rdquo; information into this prospectus, which means that we can disclose important information
to you by referring you to another document filed separately with the SEC. The information incorporated by reference is deemed to be
part of this prospectus, and subsequent information that we file with the SEC will automatically update and supersede that information.
Any statement contained in this prospectus or a previously filed document incorporated by reference will be deemed to be modified or
superseded for purposes of this prospectus to the extent that a statement contained in this prospectus or a subsequently filed document
incorporated by reference modifies or replaces that statement.</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"></P>

<!-- Field: Page; Sequence: 35; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: justify; text-indent: 0.25in">This prospectus incorporates
by reference the documents set forth below that have previously been filed with the SEC:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 24px">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Annual Report on Form&nbsp;10-K
    for the fiscal year ended December&nbsp;31, 2022 as filed with the SEC on&nbsp;<A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1130166/000155837023003163/cycc-20221231x10k.htm" STYLE="-sec-extract: exhibit">March&nbsp;8,
    2023</A>, as amended on&nbsp;<A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1130166/000155837023019369/cycc-20221231x10ka.htm" STYLE="-sec-extract: exhibit">November&nbsp;29,
    2023</A>;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465923053169/tm231966-1_def14a.htm" STYLE="-sec-extract: exhibit">Definitive
    Proxy Statement on&nbsp;Schedule 14A, filed with the SEC on April&nbsp;28, 2023</A>&nbsp;to the extent incorporated by reference
    into <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1130166/000155837023003163/cycc-20221231x10k.htm" STYLE="-sec-extract: exhibit">our
    Annual Report on Form&nbsp;10-K for the year ended December&nbsp;31, 2022</A> (other than the portions thereof that are furnished
    and not filed);</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quarterly Reports on Form&nbsp;10-Q
    for the quarterly period ended March&nbsp;31, 2023 as filed with the SEC on&nbsp;<A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1130166/000155837023009443/cycc-20230331x10q.htm" STYLE="-sec-extract: exhibit">May&nbsp;11,
    2023</A>, for the quarterly period ended June&nbsp;30, 2023 as filed with the SEC on&nbsp;<A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1130166/000155837023014533/cycc-20230630x10q.htm" STYLE="-sec-extract: exhibit">August&nbsp;10,
    2023</A>, and for the quarterly period ended September&nbsp;30, 2023 as filed with the SEC on&nbsp;<A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1130166/000155837023019370/cycc-20230930x10q.htm" STYLE="-sec-extract: exhibit">November&nbsp;29,
    2023</A>;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current Reports on Form&nbsp;8-K
    (other than the portions thereof that are furnished and not filed) as filed with the SEC on&nbsp;<A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1130166/000110465923001861/tm231753d1_8k.htm" STYLE="-sec-extract: exhibit">January&nbsp;6,
    2023</A>,&nbsp;<A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1130166/000110465923030580/tm239036d1_8k.htm" STYLE="-sec-extract: exhibit">March&nbsp;9,
    2023</A>,&nbsp;<A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1130166/000110465923056001/tm2314647d1_8k.htm" STYLE="-sec-extract: exhibit">May&nbsp;4,
    2023</A>,&nbsp;<A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1130166/000110465923071180/tm2318711d1_8k.htm" STYLE="-sec-extract: exhibit">June&nbsp;14,
    2023</A>,&nbsp;<A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1130166/000110465923079107/tm2320788d1_8k.htm" STYLE="-sec-extract: exhibit">July&nbsp;7,
    2023</A>,&nbsp;<A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1130166/000110465923099297/tm2325791d1_8k.htm" STYLE="-sec-extract: exhibit">September&nbsp;8,
    2023</A>,&nbsp;<A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1130166/000110465923115233/tm2330094d1_8k.htm" STYLE="-sec-extract: exhibit">November&nbsp;7,
    2023</A>,&nbsp;<A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1130166/000110465923118751/tm2330847d1_8k.htm" STYLE="-sec-extract: exhibit">November&nbsp;15,
    2023</A>,&nbsp;<A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1130166/000110465923121675/tm2331442d1_8k.htm" STYLE="-sec-extract: exhibit">November&nbsp;28,
    2023</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1130166/000110465923125365/tm2332681d1_8k.htm" STYLE="-sec-extract: exhibit">December&nbsp;12,
    2023</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1130166/000110465923129018/tm2333683d1_8k.htm" STYLE="-sec-extract: exhibit">December&nbsp;26,
    2023</A>, and <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1130166/000110465924001351/tm242057d1_8k.htm" STYLE="-sec-extract: exhibit">January&nbsp;4,
    2024</A>;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the description of our
    common stock contained in&nbsp;<A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000155837023003163/cycc-20221231xex4d10.htm" STYLE="-sec-extract: exhibit">Exhibit&nbsp;4.10
    to our Annual Report on Form&nbsp;10-K for the fiscal year ended December&nbsp;31, 2022</A>; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">all reports and other documents
    subsequently filed by us pursuant to Sections 13(a), 13(c), 14 and 15(d)&nbsp;of the&nbsp;Exchange Act&nbsp;after the date of this
    prospectus and prior to the termination or completion of the offering of securities under this prospectus shall be deemed to be incorporated
    by reference in this prospectus and to be a part hereof from the date of filing such reports and other documents.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All reports and other documents we subsequently
file pursuant to Section&nbsp;13(a), 13(c), 14 or 15(d)&nbsp;of the&nbsp;Exchange Act&nbsp;in this prospectus, prior to the termination
of this offering, but excluding any information furnished to, rather than filed with, the SEC, will also be incorporated by reference
into this prospectus and deemed to be part of this prospectus from the date of the filing of such reports and documents. The documents
incorporated by reference herein do not reflect the reverse stock split effected at 5:00 p.m.&nbsp;Eastern Time on Friday, December&nbsp;15,
2023.</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; text-align: justify">You may request a copy of these filings, at no
cost, by contacting: 200 Connell Drive, Suite&nbsp;1500, Berkeley Heights, NJ 07922, telephone (908) 517-7330.</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"></P>

<!-- Field: Page; Sequence: 36; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: center"><IMG SRC="tm243656d1_s1img02.jpg" ALT=""></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; text-align: center"><B>CYCLACEL PHARMACEUTICALS,&nbsp;INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>411,969 SHARES OF COMMON
STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>ISSUABLE UPON EXERCISE
OF OUTSTANDING WARRANTS</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; text-align: center"><B>PROSPECTUS</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; text-align: center"><B>__________, 2024</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; text-align: center"></P>

<!-- Field: Page; Sequence: 37; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></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; text-align: center"><B>PART&nbsp;II INFORMATION NOT REQUIRED IN PROSPECTUS</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"><B>Item 13 Other Expenses of Issuance and Distribution.</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; text-align: justify">The following table sets forth the costs and
expenses, payable by the Company in connection with the registration and sale of the common stock being registered. All amounts are estimates
except the SEC registration fee.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Amount
    to be paid ($)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 87%; text-align: justify">SEC registration fee</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">132</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Legal fees and expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">25,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Other</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">6,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Accounting fees and expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">18,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Total</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">49,132</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 14. Indemnification of Directors and Officers.</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; text-align: justify; text-indent: 0.25in">Our amended and restated
certificate of incorporation, as amended, and amended and restated bylaws, as amended, provide that each person who was or is made a
party or is threatened to be made a party to or is otherwise involved (including, without limitation, as a witness) in any action, suit
or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that he or she is or was a director or
an officer of Cyclacel Pharmaceuticals,&nbsp;Inc. or is or was serving at our request as a director, officer, or trustee of another corporation,
or of a partnership, joint venture, trust or other enterprise, including service with respect to an employee benefit plan, whether the
basis of such proceeding is alleged action in an official capacity as a director, officer or trustee or in any other capacity while serving
as a director, officer or trustee, shall be indemnified and held harmless by us to the fullest extent authorized by the Delaware General
Corporation Law against all expense, liability and loss (including attorneys&rsquo; fees, judgments, fines, ERISA excise taxes or penalties
and amounts paid in settlement) reasonably incurred or suffered by such.</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; text-align: justify; text-indent: 0.25in">Section&nbsp;145 of the
Delaware General Corporation Law permits a corporation to indemnify any director or officer of the corporation against expenses (including
attorney&rsquo;s fees), judgments, fines and amounts paid in settlement actually and reasonably incurred in connection with any action,
suit or proceeding brought by reason of the fact that such person is or was a director or officer of the corporation, if such person
acted in good faith and in a manner that he reasonably believed to be in, or not opposed to, the best interests of the corporation, and,
with respect to any criminal action or proceeding, if he or she had no reason to believe his or her conduct was unlawful. In a derivative
action, (<I>i.e</I>., one brought by or on behalf of the corporation),&nbsp;indemnification&nbsp;may be provided only for expenses actually
and reasonably incurred by any director or officer in connection with the defense or settlement of such an action or suit if such person
acted in good faith and in a manner that he or she reasonably believed to be in, or not opposed to, the best interests of the corporation,
except that no&nbsp;indemnification&nbsp;shall be provided if such person shall have been adjudged to be liable to the corporation, unless
and only to the extent that the court in which the action or suit was brought shall determine that the defendant is fairly and reasonably
entitled to indemnity for such expenses despite such adjudication of liability.</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; text-align: justify; text-indent: 0.25in">Pursuant to Section&nbsp;102(b)(7)&nbsp;of
the Delaware General Corporation Law, our amended and restated certificate of incorporation eliminates the liability of a director to
us or our stockholders for monetary damages for such a breach of fiduciary duty as a director, except for liabilities arising:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">from
                                            any breach of the director&rsquo;s duty of loyalty to us or our stockholders;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">from
                                            acts or omissions not in good faith or which involve intentional misconduct or a knowing
                                            violation of law;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">under
                                            Section&nbsp;174 of the Delaware General Corporation Law; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">from
                                            any transaction from which the director derived an improper personal benefit.</TD></TR></TABLE>

<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"></P>

<!-- Field: Page; Sequence: 38; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: justify; text-indent: 0.25in">We carry insurance policies
insuring our directors and officers against certain liabilities that they may incur in their capacity as directors and officers.</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; text-align: justify; text-indent: 0.25in">We have entered into&nbsp;indemnification&nbsp;agreements
with each of our directors and executive officers. Pursuant to the&nbsp;indemnification&nbsp;agreements, agree to hold harmless and indemnify
our directors and executive officers to the fullest extent authorized or permitted by the provisions of our amended and restated certificate
of incorporation, amended and restated by-laws and the DGCL, including for any amounts that such director or officer becomes obligated
to pay because of any claim to which such director or officer is made or&nbsp;threatened to be made a party, witness or participant,
by reason of such director&rsquo;s or officer&rsquo;s service as a director, officer, employee or other agent.</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; text-align: justify; text-indent: 0.25in">There are certain exceptions
from our obligation to indemnify our directors and executive officers pursuant to the&nbsp;indemnification&nbsp;agreements, including
for &ldquo;short-swing&rdquo; profit claims under Section&nbsp;16(b)&nbsp;of the Exchange Act losses that are as a result of conduct
that is established by a final judgment as knowingly fraudulent or deliberately dishonest or that constituted willful misconduct, or
that constituted a breach of the duty of loyalty to us or resulted in any improper personal profit or advantage, where payment is actually
made to a director or officer under an insurance policy, indemnity clause, bylaw or agreement, except in respect of any excess beyond
payment under such insurance, clause, bylaw or agreement, for&nbsp;indemnification&nbsp;which is not lawful, or in connection with any
proceeding initiated by such director or officer, or any proceeding against us or our directors, officers, employees or other agents,
unless (i)&nbsp;such&nbsp;indemnification&nbsp;is expressly required to be made by law, (ii)&nbsp;the proceeding was authorized by our
board of directors, (iii)&nbsp;such&nbsp;indemnification&nbsp;is provided by us, in our sole discretion, pursuant to the powers vested
in us under the DGCL, or (iv)&nbsp;the proceeding is initiated to enforce a claim for&nbsp;indemnification&nbsp;pursuant to the&nbsp;indemnification&nbsp;agreement.</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; text-align: justify; text-indent: 0.25in">All of our agreements and
obligations contained in the&nbsp;indemnification&nbsp;agreements shall continue during the period when the director or officer who is
a party to an&nbsp;indemnification&nbsp;agreement is our director, officer, employee or other agent (or is or is serving at our request
as a director, officer, employee or other agent of another corporation, partnership, joint venture, trust, employee benefit plan or other
enterprise) and shall continue thereafter so long as such director or officer shall be subject to any possible claim or threatened, pending
or completed action, suit or proceeding, whether civil, criminal, arbitrational, administrative or investigative. In addition, the&nbsp;indemnification&nbsp;agreements
provide for partial&nbsp;indemnification&nbsp;and advance of expenses.</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; text-align: justify; text-indent: 0.25in">Insofar as&nbsp;indemnification&nbsp;for
liabilities arising under the&nbsp;Securities Act&nbsp;may be permitted to our directors, officers or controlling persons pursuant to
the foregoing provisions, or otherwise, we have been advised that in the opinion of the Commission this&nbsp;indemnification&nbsp;is
against public policy as expressed in the&nbsp;Securities Act&nbsp;and is, therefore, unenforceable.</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"><B>Item 15. Recent Sales of Unregistered Securities</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; text-align: justify; text-indent: 0.25in">On December&nbsp;21, 2023,
we entered into a Securities Purchase Agreement with certain institutional investors to issue unregistered warrants (&ldquo;Private Warrants&rdquo;)
to purchase up to 388,200 shares of our common stock. Each Private Warrant has an exercise price of $3.19 per share, was exercisable
immediately following its original issuance and will expire seven years from the original issuance date. The Private Warrants were sold
in a private placement exempt from registration pursuant to Section&nbsp;4(a)(2)&nbsp;and/or Rule&nbsp;506 of the Securities Act. The
offering closed on December&nbsp;26, 2023. The gross proceeds were approximately $1.29 million before deducting the placement agent fees
and other offering expenses. The placement agent also received warrants that have substantially the same terms as the Private Warrants
to purchase that number of shares of our common stock equal to an aggregate of 23,769 shares of our common stock at an exercise price
of $4.14375 per share (the &ldquo;Placement Agent Warrants&rdquo;). The shares of common stock issuable upon the exercise of these Private
Warrants and Placement Agent Warrants are being registered for resale by the selling security holders pursuant to this prospectus.</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; text-align: justify; text-indent: 0.25in">Additionally, in a separate
concurrent insider private placement, we also sold to certain of our officers 7,956 shares of our common stock and Private Warrants to
purchase up to an aggregate of 7,956 shares of our common stock, at a combined purchase price of $3.315 per share of common stock and
accompanying Private Warrant.</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"></P>

<!-- Field: Page; Sequence: 39; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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"><B>Item 16. Exhibits and Financial Statement Schedules.</B></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
exhibits listed below are filed as part of or incorporated by reference into this Registration Statement on Form&nbsp;S-1. Where certain
exhibits are incorporated by reference from a previous filing, the exhibit numbers and previous filings are identified in parentheses.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left; font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Exhibit<BR>
    Number</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Description</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/0001130166/000110465921036398/tm219662d1_ex1-1.htm" STYLE="-sec-extract: exhibit">1.1</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 2%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; width: 88%; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/0001130166/000110465921036398/tm219662d1_ex1-1.htm" STYLE="-sec-extract: exhibit">Underwriting
    Agreement, dated March&nbsp;12, 2021, by and between Cyclacel Pharmaceuticals,&nbsp;Inc. and Oppenheimer&nbsp;&amp; Co. Inc. (previously
    filed as Exhibit&nbsp;1.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally filed with the SEC on March&nbsp;15,
    2021, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/0001130166/000155837021011508/cycc-20210630xex1d1.htm" STYLE="-sec-extract: exhibit">1.2</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/0001130166/000155837021011508/cycc-20210630xex1d1.htm" STYLE="-sec-extract: exhibit">Controlled
    Equity Offering Sales Agreement, dated as of August&nbsp;12, 2021, by and among Cyclacel Pharmaceuticals,&nbsp;Inc. and Cantor Fitzgerald&nbsp;&amp;
    Co. (previously filed as Exhibit&nbsp;1.1 to the Registrant&rsquo;s Quarterly Report on Form&nbsp;10-Q, originally filed with the
    SEC on August&nbsp;12, 2021 and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000110465913026207/a13-1449_1ex3d1.htm" STYLE="-sec-extract: exhibit">3.1</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000110465913026207/a13-1449_1ex3d1.htm" STYLE="-sec-extract: exhibit">Amended
    and Restated Certificate of Incorporation of Cyclacel Pharmaceuticals,&nbsp;Inc. (previously filed as Exhibit&nbsp;3.1 to the Registrant&rsquo;s
    Annual Report on Form&nbsp;10-K, originally filed with the SEC on April&nbsp;1, 2013, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000157104916015620/t1601433_ex3-1.htm" STYLE="-sec-extract: exhibit">3.2</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000157104916015620/t1601433_ex3-1.htm" STYLE="-sec-extract: exhibit">Certificate
    of Amendment to the Amended and Restated Certificate of Incorporation of Cyclacel Pharmaceuticals,&nbsp;Inc. (previously filed as
    Exhibit&nbsp;3.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally filed with the SEC on May&nbsp;27, 2016, and
    incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465920046360/tm2015825d1_ex3-1.htm" STYLE="-sec-extract: exhibit">3.3</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465920046360/tm2015825d1_ex3-1.htm" STYLE="-sec-extract: exhibit">Certificate
    of Amendment to the Amended and Restated Certificate of Incorporation of Cyclacel Pharmaceuticals,&nbsp;Inc. (previously filed as
    Exhibit&nbsp;3.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally filed with the SEC on April&nbsp;14, 2020,
    and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left"><A HREF="tm243656d1_ex3-4.htm" STYLE="-sec-extract: exhibit">3.4*</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="tm243656d1_ex3-4.htm" STYLE="-sec-extract: exhibit">Certificate of Amendment to the
    Amended and Restated Certificate of Incorporation of Cyclacel Pharmaceuticals,&nbsp;Inc.</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left"><A HREF="tm243656d1_ex3-5.htm" STYLE="-sec-extract: exhibit">3.5*</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="tm243656d1_ex3-5.htm" STYLE="-sec-extract: exhibit">Certificate of Correction to Certificate
    of Amendment to the Amended and Restated Certificate of Incorporation of Cyclacel Pharmaceuticals,&nbsp;Inc.</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000095012311031629/c14674exv3w2.htm" STYLE="-sec-extract: exhibit">3.6</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000095012311031629/c14674exv3w2.htm" STYLE="-sec-extract: exhibit">Amended
    and Restated Bylaws of Cyclacel Pharmaceuticals,&nbsp;Inc. (previously filed as Exhibit&nbsp;3.2 to the Registrant&rsquo;s Annual
    Report on Form&nbsp;10-K, File No.&nbsp;000-50626, originally filed with the SEC on March&nbsp;31, 2011 and incorporated herein by
    reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465920058082/tm2018924d1_ex3-01.htm" STYLE="-sec-extract: exhibit">3.6</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465920058082/tm2018924d1_ex3-01.htm" STYLE="-sec-extract: exhibit">Second
    Amended and Restate Bylaws of Cyclacel Pharmaceuticals,&nbsp;Inc. (previously filed as Exhibit&nbsp;3.1 to the Registrant&rsquo;s
    Current Report on Form&nbsp;8-K, originally filed with the SEC on May&nbsp;7, 2020, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/0001130166/000110465923115233/tm2330094d1_ex3-1.htm" STYLE="-sec-extract: exhibit">3.7</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/0001130166/000110465923115233/tm2330094d1_ex3-1.htm" STYLE="-sec-extract: exhibit">Amendment
    No.&nbsp;1 to the Second Amended and Restated Bylaws of Cyclacel Pharmaceuticals,&nbsp;Inc. (previously filed as Exhibit&nbsp;3.1
    to the Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally filed with the SEC on November&nbsp;7, 2023, and incorporated
    herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000119312504186583/dex32.htm" STYLE="-sec-extract: exhibit">3.8</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000119312504186583/dex32.htm" STYLE="-sec-extract: exhibit">Certificate
    of Designation of 6% Convertible Exchangeable Preferred Stock (previously filed as Exhibit&nbsp;3.2 to the Registrant&rsquo;s Current
    Report on Form&nbsp;8-K, originally filed with the SEC on November&nbsp;5, 2004, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000157104917006728/t1702095_ex3-5.htm" STYLE="-sec-extract: exhibit">3.9</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000157104917006728/t1702095_ex3-5.htm" STYLE="-sec-extract: exhibit">Certificate
    of Designation of Series&nbsp;A Preferred Stock (previously filed as Exhibit&nbsp;3.5 to the Registrant&rsquo;s Registration Statement
    on Form&nbsp;S-1 (No.&nbsp;333-218305), originally filed with the SEC on July&nbsp;17, 2017, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465920138563/tm2039082d1_ex3-1.htm" STYLE="-sec-extract: exhibit">3.10</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465920138563/tm2039082d1_ex3-1.htm" STYLE="-sec-extract: exhibit">Certificate
    of Designation of Preferences, Rights and Limitations of the Series&nbsp;B Convertible Preferred Stock (previously filed as Exhibit&nbsp;3.1
    to the Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally filed with the SEC on December&nbsp;22, 2020, and incorporated
    herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000119312504023989/dex41.htm" STYLE="-sec-extract: exhibit">4.1</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000119312504023989/dex41.htm" STYLE="-sec-extract: exhibit">Specimen
    of Common Stock Certificate (previously filed as Exhibit&nbsp;4.1 to Registrant&rsquo;s Registration Statement on Form&nbsp;S-1,
    File No.&nbsp;333-109653, originally filed with the SEC on February&nbsp;17, 2004, as subsequently amended, and incorporated herein
    by reference).</A></TD></TR>
  </TABLE>


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

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 40; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; width: 10%; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000119312504174775/dex32.htm" STYLE="-sec-extract: exhibit">4.2</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; width: 2%; color: #0000ee; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; width: 88%; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000119312504174775/dex32.htm" STYLE="-sec-extract: exhibit">Specimen
    of Preferred Stock Certificate of Designation (previously filed as Exhibit&nbsp;3.2 to Registrant&rsquo;s Registration Statement
    on Form&nbsp;S-1, File No.&nbsp;333-119585, originally filed with the SEC on October&nbsp;21, 2004, as subsequently amended, and
    incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; color: #0000ee; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000095012311063684/c19538exv4w1.htm" STYLE="-sec-extract: exhibit">4.3</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000095012311063684/c19538exv4w1.htm" STYLE="-sec-extract: exhibit">Form&nbsp;of
    Warrant to purchase shares of Cyclacel Pharmaceuticals,&nbsp;Inc. Common Stock (previously filed as Exhibit&nbsp;4.1 to the Registrant&rsquo;s
    Current Report on Form&nbsp;8-K, originally filed with the SEC on July&nbsp;1, 2011, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000110465912084453/a12-29566_1ex4d1.htm" STYLE="-sec-extract: exhibit">4.4</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000110465912084453/a12-29566_1ex4d1.htm" STYLE="-sec-extract: exhibit">Registration
    Rights Agreement, dated as of December&nbsp;14, 2012, by and between the Company and Aspire Capital Fund, LLC (previously filed as
    Exhibit&nbsp;4.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally filed with the SEC on December&nbsp;17, 2012,
    and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000110465913084900/a13-19747_1ex4d1.htm" STYLE="-sec-extract: exhibit">4.5</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000110465913084900/a13-19747_1ex4d1.htm" STYLE="-sec-extract: exhibit">Registration
    Rights Agreement, dated November&nbsp;14, 2013, by and between the Company and Aspire Capital Fund, LLC (previously filed as Exhibit&nbsp;4.1
    to the Registrant&rsquo;s Quarterly Report on Form&nbsp;10-Q, originally filed with the SEC on November&nbsp;14, 2013, and incorporated
    herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000157104917006728/t1702095_ex4-3.htm" STYLE="-sec-extract: exhibit">4.6</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000157104917006728/t1702095_ex4-3.htm" STYLE="-sec-extract: exhibit">Form&nbsp;of
    Warrant to purchase shares of Cyclacel Pharmaceuticals,&nbsp;Inc.&rsquo;s Common Stock (previously filed as Exhibit&nbsp;4.3 to the
    Registrant&rsquo;s Registration Statement on Form&nbsp;S-1 (No.&nbsp;333-218305), originally filed with the SEC on July&nbsp;17,
    2017, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465920051033/tm2016791d1_ex4-1.htm" STYLE="-sec-extract: exhibit">4.7</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465920051033/tm2016791d1_ex4-1.htm" STYLE="-sec-extract: exhibit">Form&nbsp;of
    Pre-Funded Warrant (previously filed as Exhibit&nbsp;4.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally filed
    with the SEC on April&nbsp;24, 2020, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465920051033/tm2016791d1_ex4-1.htm" STYLE="-sec-extract: exhibit">4.8</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465920051033/tm2016791d1_ex4-1.htm" STYLE="-sec-extract: exhibit">Form&nbsp;of
    Common Warrant (previously filed as Exhibit&nbsp;4.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally filed
    with the SEC on April&nbsp;24, 2020, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465920138563/tm2039082d1_ex4-1.htm" STYLE="-sec-extract: exhibit">4.9</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465920138563/tm2039082d1_ex4-1.htm" STYLE="-sec-extract: exhibit">Form&nbsp;of
    Warrant (previously filed as Exhibit&nbsp;4.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally filed with the
    SEC on December&nbsp;22, 2020, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/0001130166/000110465923129018/tm2333683d1_ex4-1.htm" STYLE="-sec-extract: exhibit">4.10</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/0001130166/000110465923129018/tm2333683d1_ex4-1.htm" STYLE="-sec-extract: exhibit">Form&nbsp;of
    Pre-Funded Common Stock Purchase Warrant (previously filed as Exhibit&nbsp;4.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K,
    originally filed with the SEC on December&nbsp;26, 2023, and incorporated herein by reference). <BR></A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/0001130166/000110465923129018/tm2333683d1_ex4-2.htm" STYLE="-sec-extract: exhibit">4.11</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/0001130166/000110465923129018/tm2333683d1_ex4-2.htm" STYLE="-sec-extract: exhibit">Form&nbsp;of
    Common Stock Purchase Warrant (previously filed as Exhibit&nbsp;4.2 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally
    filed with the SEC on December&nbsp;26, 2023, and incorporated herein by reference).<BR></A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="tm243656d1_ex5-1.htm" STYLE="-sec-extract: exhibit">5.1*</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="tm243656d1_ex5-1.htm" STYLE="-sec-extract: exhibit">Opinion of Mintz, Levin, Cohn,
    Ferris, Glovsky and Popeo, P.C. </A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000110465912039873/a12-13056_1ex10d1.htm" STYLE="-sec-extract: exhibit">10.1&dagger;</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000110465912039873/a12-13056_1ex10d1.htm" STYLE="-sec-extract: exhibit">Amended
    and Restated 2006 Equity Incentive Plan (previously filed as Exhibit&nbsp;10.1 to Registrant&rsquo;s Current Report on Form&nbsp;8-K,
    originally filed with the SEC on May&nbsp;24, 2012, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000157104915004588/t1501247_ex10-1.htm" STYLE="-sec-extract: exhibit">10.2&dagger;</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000157104915004588/t1501247_ex10-1.htm" STYLE="-sec-extract: exhibit">2015
    Equity Incentive Plan (previously filed as Exhibit&nbsp;10.1 to Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally filed
    with the SEC on May&nbsp;22, 2015, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465922071877/tm2218496d1_ex10-1.htm" STYLE="-sec-extract: exhibit">10.3&dagger;</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465922071877/tm2218496d1_ex10-1.htm" STYLE="-sec-extract: exhibit">Amended
    and Restated 2018 Equity Incentive Plan (previously filed as Exhibit&nbsp;10.1 to Registrant&rsquo;s Current Report on Form&nbsp;8-K,
    originally filed with the SEC on June&nbsp;16, 2022, and incorporated herein by reference.</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465923071180/tm2318711d1_ex10-1.htm" STYLE="-sec-extract: exhibit">10.4&dagger;</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465923071180/tm2318711d1_ex10-1.htm" STYLE="-sec-extract: exhibit">Amended
    and Restated 2018 Equity Incentive Plan (previously filed as Exhibit&nbsp;10.1 to Registrant&rsquo;s Current Report on Form&nbsp;8-K,
    originally filed with the SEC on June&nbsp;14, 2023, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000095012310113504/c09737exv10w1.htm" STYLE="-sec-extract: exhibit">10.5&dagger;</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000095012310113504/c09737exv10w1.htm" STYLE="-sec-extract: exhibit">Form&nbsp;of
    Change in Control Agreement by and between Cyclacel Pharmaceuticals,&nbsp;Inc. and Dr.&nbsp;Judy Chiao, dated as of December&nbsp;10,
    2010 (previously filed as Exhibit&nbsp;10.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally filed with the
    SEC on December&nbsp;14, 2010, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000095012311076776/c17919exv10w1.htm" STYLE="-sec-extract: exhibit">10.6#</A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000095012311076776/c17919exv10w1.htm" STYLE="-sec-extract: exhibit">License
    Agreement by and between Sankyo Co.,&nbsp;Ltd. and Cyclacel Limited, dated September&nbsp;10, 2003, and letter amendments dated April&nbsp;1,
    2004 and April&nbsp;28, 2004 (previously filed as Exhibit&nbsp;10.1 to the Registrant&rsquo;s Quarterly Report on Form&nbsp;10-Q,
    for the quarterly period ended June&nbsp;30, 2011, originally filed with the SEC on August&nbsp;12, 2011, and incorporated herein
    by reference).</A></TD></TR>
  </TABLE>

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

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 41; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000095012311076776/c17919exv10w2.htm" STYLE="-sec-extract: exhibit">10.7#</A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000095012311076776/c17919exv10w2.htm" STYLE="-sec-extract: exhibit">Amendment No.&nbsp;4 to License Agreement between Daiichi Sankyo Company, Limited and Cyclacel Limited, dated July&nbsp;11, 2011 (previously filed as Exhibit&nbsp;10.2 to the Registrant&rsquo;s Quarterly Report on Form&nbsp;10-Q, for the quarterly period ended June&nbsp;30, 2011, originally filed with the SEC on August&nbsp;12, 2011, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000114420418059346/tv506501_ex10-1.htm" STYLE="-sec-extract: exhibit">10.8#</A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000114420418059346/tv506501_ex10-1.htm" STYLE="-sec-extract: exhibit">Clinical Collaboration Agreement by and between Cyclacel Pharmaceuticals,&nbsp;Inc. and the University of Texas M.D. Anderson Cancer Center dated as of August&nbsp;21, 2018 (previously filed as Exhibit&nbsp;10.1 to the Registrant&rsquo;s Quarterly Report on Form&nbsp;10-Q for the quarterly period ended September&nbsp;30, 2018 and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; width: 10%; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000155837020013741/cycc-20200930ex1017c6286.htm" STYLE="-sec-extract: exhibit">10.9</A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; width: 88%; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000155837020013741/cycc-20200930ex1017c6286.htm" STYLE="-sec-extract: exhibit">Cyclacel Pharmaceuticals,&nbsp;Inc. 2020 Inducement Equity Incentive Plan (previously filed as Exhibit&nbsp;10.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally filed with the SEC on November&nbsp;12, 2020, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000155837020013741/cycc-20200930ex1028db6db.htm" STYLE="-sec-extract: exhibit">10.10</A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000155837020013741/cycc-20200930ex1028db6db.htm" STYLE="-sec-extract: exhibit">Form&nbsp;of Stock Option Grant Notice and Stock Option Agreement under the Cyclacel Pharmaceuticals,&nbsp;Inc. 2020 Inducement Equity Incentive Plan (previously filed as Exhibit&nbsp;10.2 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally filed with the SEC on November&nbsp;12, 2020, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465920138563/tm2039082d1_ex10-1.htm" STYLE="-sec-extract: exhibit">10.11</A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465920138563/tm2039082d1_ex10-1.htm" STYLE="-sec-extract: exhibit">Form&nbsp;of Securities Purchase Agreement (previously filed as Exhibit&nbsp;10.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally filed with the SEC on December&nbsp;22, 2020, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/0001130166/000110465921026934/tm217716d1_ex10-1.htm" STYLE="-sec-extract: exhibit">10.12</A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/0001130166/000110465921026934/tm217716d1_ex10-1.htm" STYLE="-sec-extract: exhibit">Form&nbsp;of Retirement Agreement, by and between Cyclacel Pharmaceuticals,&nbsp;Inc. and Judy H. Chiao, MD (previously filed as Exhibit&nbsp;10.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally filed with the SEC on February&nbsp;24, 2021 and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465923056001/tm2314647d1_ex10-1.htm" STYLE="-sec-extract: exhibit">10.13&dagger;</A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465923056001/tm2314647d1_ex10-1.htm" STYLE="-sec-extract: exhibit">Employment Agreement between Cyclacel Pharmaceuticals,&nbsp;Inc. and Spiro Rombotis&nbsp;(previously filed as Exhibit&nbsp;10.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally filed with the SEC on May&nbsp;4, 2023, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465923056001/tm2314647d1_ex10-2.htm" STYLE="-sec-extract: exhibit">10.14&dagger;</A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000110465923056001/tm2314647d1_ex10-2.htm" STYLE="-sec-extract: exhibit">Employment Agreement between Cyclacel Pharmaceuticals,&nbsp;Inc. and Paul McBarron (previously filed as Exhibit&nbsp;10.2 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally filed with the SEC on May&nbsp;4, 2023, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000155837023019369/cycc-20221231xex10d16.htm" STYLE="-sec-extract: exhibit">10.15</A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1130166/000155837023019369/cycc-20221231xex10d16.htm" STYLE="-sec-extract: exhibit">Form&nbsp;of Indemnification Agreement for directors (previously filed as Exhibit&nbsp;10.16 to the Registrant&rsquo;s Annual Report on Form&nbsp;10-K/A, originally filed with the SEC on November&nbsp;29, 2023, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/0001130166/000110465923129018/tm2333683d1_ex10-1.htm" STYLE="-sec-extract: exhibit">10.16</A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/0001130166/000110465923129018/tm2333683d1_ex10-1.htm" STYLE="-sec-extract: exhibit">Placement Agency Agreement by and between the Company and Ladenburg Thalmann&nbsp;&amp; Co. Inc., dated December&nbsp;21, 2023 (previously filed as Exhibit&nbsp;10.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally filed with the SEC on December&nbsp;26, 2023, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/0001130166/000110465923129018/tm2333683d1_ex10-2.htm" STYLE="-sec-extract: exhibit">10.17</A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/0001130166/000110465923129018/tm2333683d1_ex10-2.htm" STYLE="-sec-extract: exhibit">Securities Purchase Agreement,&nbsp;dated December&nbsp;21, 2023, by and among the Company and the Purchasers (previously filed as Exhibit&nbsp;10.2 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally filed with the SEC on December&nbsp;26, 2023, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/0001130166/000110465923129018/tm2333683d1_ex10-3.htm" STYLE="-sec-extract: exhibit">10.18</A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/0001130166/000110465923129018/tm2333683d1_ex10-3.htm" STYLE="-sec-extract: exhibit">Securities Purchase Agreement,&nbsp;dated December&nbsp;21, 2023, by and among the Company and Spiro Rombotis and Paul McBarron (previously filed as Exhibit&nbsp;10.3 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K, originally filed with the SEC on December&nbsp;26, 2023, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000157104914000943/t1400075_ex21.htm" STYLE="-sec-extract: exhibit">21</A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1130166/000157104914000943/t1400075_ex21.htm" STYLE="-sec-extract: exhibit">Subsidiaries of Cyclacel Pharmaceuticals,&nbsp;Inc. (previously filed as Exhibit&nbsp;21 to the Registrant&rsquo;s Annual Report on Form&nbsp;10-K, originally filed with the SEC on March&nbsp;26, 2014, and incorporated herein by reference).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="tm243656d1_ex23-1.htm" STYLE="-sec-extract: exhibit">23.1*</A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="tm243656d1_ex23-1.htm" STYLE="-sec-extract: exhibit">Consent of Independent Registered Public Accounting Firm.</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="tm243656d1_ex5-1.htm" STYLE="-sec-extract: exhibit">23.2*</A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="tm243656d1_ex5-1.htm" STYLE="-sec-extract: exhibit">Consent of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. (included in Exhibit&nbsp;5.1).</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="tm243656d1_ex107.htm" STYLE="-sec-extract: exhibit">107*</A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: middle; text-align: justify"><A HREF="tm243656d1_ex107.htm" STYLE="-sec-extract: exhibit">Filing Fee Table.</A></TD></TR>
  </TABLE>

<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">Exhibits:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&dagger;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicates management compensatory plan, contract or
    arrangement.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">#</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Confidential treatment has been granted with respect
    to certain portions of this exhibit, which portions have been omitted and filed separately with the Securities and Exchange Commission
    as part of an application for confidential treatment pursuant to the Securities and Exchange Act of 1934, as amended.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed herewith.</FONT></TD></TR>
  </TABLE>
<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"></P>

<!-- Field: Page; Sequence: 42; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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"><B>Item 17. Undertakings.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The undersigned registrant
hereby undertakes:</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; text-align: justify; text-indent: 0.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</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; text-align: justify; text-indent: 0.75in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
include any prospectus required by Section&nbsp;10(a)(3)&nbsp;of the Securities Act;</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; text-align: justify; text-indent: 0.75in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities
offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range
may be reflected in the form of prospectus filed with the Commission pursuant to Rule&nbsp;424(b)&nbsp;if, in the aggregate, the changes
in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the &ldquo;Calculation
of Registration Fee&rdquo; table in the effective registration statement.</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; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
include any material information with respect to the plan of distribution not previously disclosed in the registration </FONT>statement
or any material change to such information in the registration statement;</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; text-align: justify; text-indent: 0.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to
be the initial bona fide offering thereof.</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; text-align: justify; text-indent: 0.5in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination
of the offering.</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; text-align: justify; text-indent: 0.5in">(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That,
for the purpose of determining liability under the Securities Act to any purchaser: each prospectus filed pursuant to Rule&nbsp;424(b)&nbsp;as
part of a registration statement relating to an offering, other than registration statements relying on Rule&nbsp;430B or other than
prospectuses filed in reliance on Rule&nbsp;430A, shall be deemed to be part of and included in the registration statement as of the
date it is first used after effectiveness; provided, however, that no statement made in a registration statement or prospectus that is
part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement
or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first
use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement
or made in any such document immediately prior to such date of first use.</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; text-align: justify; text-indent: 0.5in">(5)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers, and controlling persons
of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the SEC
such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that
a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director,
officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director,
officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.</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"></P>

<!-- Field: Page; Sequence: 43; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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: justify; text-indent: 0.25in">Pursuant to the requirements
of the Securities Act of 1933, the registrant has duly caused this Registration Statement on Form&nbsp;S-1 to be signed on its behalf
by the undersigned, thereunto duly authorized, in Berkeley Heights, New Jersey, on January&nbsp;19, 2024.</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%">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">CYCLACEL PHARMACEUTICALS,&nbsp;INC.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 48%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%">/s/ Paul McBarron</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Paul McBarron</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif">Chief Operating Officer, Chief Financial Officer&nbsp;&amp; Executive Vice President,
    Finance</TD></TR>
  </TABLE>


<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"></P>

<!-- Field: Page; Sequence: 44; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: center"><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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; text-align: justify; text-indent: 0.25in">We, the undersigned officers
and directors of Cyclacel Pharmaceuticals,&nbsp;Inc., hereby severally constitute and appoint Spiro Rombotis and Paul McBarron, and each
of them singly, our true and lawful attorneys, with full power to them, and to each of them singly, to sign for us and in our names in
the capacities indicated below, the registration statement on Form&nbsp;S-1 filed herewith, and any and all pre-effective and post-effective
amendments to said registration statement, and any registration statement filed pursuant to Rule&nbsp;462(b)&nbsp;under the Securities
Act of 1933, as amended, in connection with the registration under the Securities Act of 1933, as amended, of equity securities of the
Company, and to file or cause to be filed the same, with all exhibits thereto and other documents in connection therewith, with the Securities
and Exchange Commission, granting unto said attorneys, and each of them, full power and authority to do and perform each and every act
and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as each of us might or could
do in person, and hereby ratifying and confirming all that said attorneys, and each of them, or their substitute or substitutes, shall
do or cause to be done by virtue of this Power of Attorney.</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; text-align: justify; text-indent: 0.25in">Pursuant to the requirements
of the Securities Act of 1933, this Registration Statement on Form&nbsp;S-1 has been signed below by the following persons in the capacities
and on the dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&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: bottom; width: 36%; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Spiro Rombotis</FONT></TD>
<TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
<TD ROWSPAN="2" STYLE="text-align: justify; vertical-align: top; width: 42%">President&nbsp;&amp; Chief Executive Officer and Director (Principal Executive Officer)</TD>
<TD ROWSPAN="2" STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
<TD ROWSPAN="2" STYLE="vertical-align: top; width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January&nbsp;19, 2024</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Spiro Rombotis</FONT></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Paul McBarron&nbsp;</FONT></TD>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD ROWSPAN="2" STYLE="text-align: justify; vertical-align: top">Chief Operating Officer, Chief Financial Officer&nbsp;&amp; Executive Vice President, Finance and Director (Principal Financial and Accounting Officer)</TD>
<TD ROWSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
<TD ROWSPAN="2" STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January&nbsp;19, 2024</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Paul McBarron</FONT></P>
    <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Dr.&nbsp;Christopher Henney&nbsp;</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January&nbsp;19, 2024</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dr.&nbsp;Christopher Henney</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Dr.&nbsp;Robert Spiegel&nbsp;</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vice Chairman</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January&nbsp;19, 2024</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dr.&nbsp;Robert Spiegel</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Dr.&nbsp;Samuel L. Barker&nbsp;</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January&nbsp;19, 2024</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dr.&nbsp;Samuel L. Barker</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/Kenneth Ferguson&nbsp;</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January&nbsp;19, 2024</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kenneth Ferguson</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Dr, Brian Schwartz&nbsp;</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January&nbsp;19, 2024</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dr.&nbsp;Brian Schwartz</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Karin L. Walker&nbsp;</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
<TD>&nbsp;</TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January&nbsp;19, 2024</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Karin L. Walker</FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
</TABLE>


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

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

<!-- Field: Page; Sequence: 45; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-3.4
<SEQUENCE>2
<FILENAME>tm243656d1_ex3-4.htm
<DESCRIPTION>EXHIBIT 3.4
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 3.4</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>CERTIFICATE OF AMENDMENT<BR>
TO THE<BR>
AMENDED AND RESTATED CERTIFICATE OF INCORPORATION<BR>
OF<BR>
CYCLACEL PHARMACEUTICALS, INC.</B>&nbsp;</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">Pursuant to Section 242 of<BR>
the General Corporation Law of the<BR>
State of Delaware</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">Cyclacel Pharmaceuticals, Inc., a corporation organized
and existing under and by virtue of the General Corporation Law of the State of Delaware (the &ldquo;Corporation&rdquo;), does hereby
certify:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><B>FIRST:</B> The Board of Directors of the Corporation
duly adopted resolutions approving the following amendment to the Corporation&rsquo;s Amended and Restated Certificate of Incorporation
(the &ldquo;Certificate of Incorporation&rdquo;), declaring said amendment to be advisable and providing for the consideration of such
amendment at a special meeting of stockholders of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><B>SECOND:</B> On December 8, 2023, the special
meeting of stockholders of the Corporation was duly called and held, upon notice in accordance with Section 222 of the General Corporation
Law of the State of Delaware, at which meeting the necessary number of shares required by statute were voted in favor of the amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><B>THIRD:</B> Said amendment was duly adopted in
accordance with the provisions of Section 242 of the General Corporation Law of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><B>FOURTH:</B> Section (C) of Article FOURTH of
the Certificate of Incorporation is hereby amended in its entirety to state the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&ldquo;Effective as of 5:00 p.m., New York City
time, on December 15, 2023 (the &ldquo;Effective Time&rdquo;), each twelve million six hundred forty-two thousand eight hundred twenty-two
(12,642,822) shares of Common Stock issued and outstanding or held as treasury shares immediately prior to the Effective Time (the &ldquo;Old
Common Stock&rdquo;) shall automatically and without any action on the part of the holder thereof be reclassified, combined and converted
into one (1) share of Common Stock (the &ldquo;New Common Stock&rdquo;) (such reclassification, combination and conversion, the &ldquo;Reverse
Stock Split&rdquo;). Notwithstanding the immediately preceding sentence, no fractional shares of New Common Stock shall be issued to holders
of record of Old Common Stock as of the Effective Time. In lieu thereof, each holder of record of Old Common Stock as of the Effective
Time that would otherwise be entitled to receive a fractional share of New Common Stock as a result of the Reverse Stock Split shall be
entitled to receive, upon surrender of certificates representing such Old Common Stock, a cash payment in an amount equal to the fraction
to which the stockholder would otherwise be entitled multiplied by the then-prevailing price as reported by The Nasdaq Stock Market (or
if such price is not available, then such other price as determined by the Board of Directors). The ownership of a fractional share of
New Common Stock shall not give the holder any voting, dividend or other rights, except the right to receive the cash payment described
in the immediately preceding sentence. Whether or not the Reverse Stock Split would result in fractional shares for a holder of record
of Old Common Stock as of the Effective Time shall be determined on the basis of the total number of shares of Old Common Stock held by
such holder of record as of the Effective Time. Each stock certificate that, immediately prior to the Effective Time, represented shares
of Old Common Stock shall, from and after the Effective Time, automatically and without the necessity of presenting the same for exchange,
represent the number of whole shares of New Common Stock into which the shares of Old Common Stock represented by such certificate shall
have been reclassified, combined and converted in the Reverse Stock Split (as well as the right to receive cash in lieu of fractional
shares as described above). The New Common Stock issued in the Reverse Stock Split shall have the rights, preferences and privileges as
the Common Stock.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><B></B></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><B>FIFTH:</B> The foregoing amendment to the Certificate
of Incorporation shall be effective as of 5:00 pm Eastern Daylight Time on December 15, 2023.</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-indent: 20pt">IN WITNESS WHEREOF, Cyclacel Pharmaceuticals, Inc.
has caused this Certificate of Amendment to the Certificate of Incorporation to be signed by the undersigned, thereunto duly appointed,
this 15<SUP>th</SUP> day of December, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">By:&ensp;<U>/s/ Spiro Rombotis</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Spiro Rombotis </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">President and Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<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">&nbsp;</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">&nbsp;</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">&nbsp;</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"></P>

<!-- Field: Page; Sequence: 2; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-3.5
<SEQUENCE>3
<FILENAME>tm243656d1_ex3-5.htm
<DESCRIPTION>EXHIBIT 3.5
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 3.5</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">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The corporation organized and existing under the
General Corporation Law of the State of Delaware, hereby certifies as follows:</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: 0in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
name of the corporation is Cyclacel Pharmaceuticals, Inc.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>A Certificate of Amendment to the Amended and Restated Certificate of Incorporation was filed by the Secretary of State of Delaware
on December 15, 2023. Said Certificate requires correction as permitted by Section 103 of the General Corporation Law of the State of
Delaware.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
inaccuracy or defect of said Certificate is as follows: Scrivener&rsquo;s error including the number 12,642,822 instead of the number
15.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">4.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Article
FOURTH of said Certificate is corrected to read as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;Effective as of 5:00 p.m., New York City time, on December 15,
2023 (the &ldquo;Effective Time&rdquo;), each fifteen (15) shares of Common Stock issued and outstanding or held as treasury shares immediately
prior to the Effective Time (the &ldquo;Old Common Stock&rdquo;) shall automatically and without any action on the part of the holder
thereof be reclassified, combined and converted into one (1) share of Common Stock (the &ldquo;New Common Stock&rdquo;) (such reclassification,
combination and conversion, the &ldquo;Reverse Stock Split&rdquo;). Notwithstanding the immediately preceding sentence, no fractional
shares of New Common Stock shall be issued to holders of record of Old Common Stock as of the Effective Time. In lieu thereof, each holder
of record of Old Common Stock as of the Effective Time that would otherwise be entitled to receive a fractional share of New Common Stock
as a result of the Reverse Stock Split shall be entitled to receive, upon surrender of certificates representing such Old Common Stock,
a cash payment in an amount equal to the fraction to which the stockholder would otherwise be entitled multiplied by the then-prevailing
price as reported by The Nasdaq Stock Market (or if such price is not available, then such other price as determined by the Board of Directors).
The ownership of a fractional share of New Common Stock shall not give the holder any voting, dividend or other rights, except the right
to receive the cash payment described in the immediately preceding sentence. Whether or not the Reverse Stock Split would result in fractional
shares for a holder of record of Old Common Stock as of the Effective Time shall be determined on the basis of the total number of shares
of Old Common Stock held by such holder of record as of the Effective Time. Each stock certificate that, immediately prior to the Effective
Time, represented shares of Old Common Stock shall, from and after the Effective Time, automatically and without the necessity of presenting
the same for exchange, represent the number of whole shares of New Common Stock into which the shares of Old Common Stock represented
by such certificate shall have been reclassified, combined and converted in the Reverse Stock Split (as well as the right to receive cash
in lieu of fractional shares as described above). The New Common Stock issued in the Reverse Stock Split shall have the rights, preferences
and privileges as the Common Stock.&rdquo;</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">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Certificate of Correction
was filed by the Secretary of State of Delaware on December 15, 2023.</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">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Spiro Rombotis</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 45%"><FONT STYLE="font-size: 10pt">Spiro Rombotis</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Its:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">President and Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<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">&nbsp;</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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>4
<FILENAME>tm243656d1_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Exhibit&nbsp;5.1</B></P>



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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt; width: 41%">
    <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">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding: 1.5pt 1.25pt; text-align: center; vertical-align: top; font-size: 10pt; width: 18%"><IMG SRC="tm243656d1_ex5-1img001.jpg" ALT=""><FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="padding: 1.5pt 1.25pt; vertical-align: top; width: 41%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">919 Third Avenue</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">New York, NY 10022</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">212-935-3000</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">mintz.com</P></TD></TR>
  </TABLE>
<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">January&nbsp;19, 2024</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">Cyclacel Pharmaceuticals,&nbsp;Inc.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">200 Connell Drive, Suite&nbsp;1500&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Berkeley Heights, New Jersey 07922</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Re: <U>Securities Being Registered under Registration
Statement on Form&nbsp;S-1</U></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">Ladies and Gentlemen:</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; text-align: justify; text-indent: 0.25in">We have acted as counsel
to Cyclacel Pharmaceuticals,&nbsp;Inc., a Delaware corporation (the &ldquo;Company&rdquo;) in connection with the filing by the Company
of a Registration Statement on Form&nbsp;S-1 (the &ldquo;Registration Statement&rdquo;) with the Securities and Exchange Commission (the
 &ldquo;Commission&rdquo;) relating to the registration under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;),
of the offering from time to time by the selling stockholders (the &ldquo;Selling Security Holders&rdquo;), as described in the Registration
Statement, of up to 411,969 shares (the &ldquo;Shares&rdquo;) of the Company&rsquo;s common stock, par value $0.001 per share (&ldquo;Common
Stock&rdquo;), issuable upon the exercise of the issued and outstanding warrants held by the Selling Security Holders (the &ldquo;Warrants&rdquo;)
to purchase shares of Common Stock (the &ldquo;Warrant Shares&rdquo;).</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; text-align: justify; text-indent: 0.25in">In connection with this opinion,
we have examined the Company&rsquo;s Amended and Restated Certificate of Incorporation and Second Amended and Restated Bylaws, each as
amended and currently in effect; such other records of the corporate proceedings of the Company and certificates of the Company&rsquo;s
officers as we have deemed relevant; and the Registration Statement and the exhibits thereto.</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; text-align: justify; text-indent: 0.25in">In our examination, we have
assumed the genuineness of all signatures, the legal capacity of natural persons, the authenticity of all documents submitted to us as
originals, the conformity to original documents of all documents submitted to us as certified or photostatic copies and the authenticity
of the originals of such copies and the truth and correctness of any representations and warranties contained therein. As to questions
of fact material to this opinion, we have relied upon certificates or comparable documents of public officials and of officers and representatives
of the Company.</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; text-align: justify; text-indent: 0.25in">Our opinion is limited to
the general corporate laws of the State of Delaware and we express no opinion with respect to the laws of any other jurisdiction. No opinion
is expressed herein with respect to the qualification of the Warrant Shares under the securities or blue sky laws of any state or any
foreign jurisdiction.</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; text-align: justify; text-indent: 0.25in">Based upon and subject to
the foregoing, it is our opinion that the Warrant Shares have duly authorized, and when issued and sold in accordance with the terms and
conditions of the Warrants and the Registration Statement, as applicable, will be validly issued, fully paid and non-assessable.</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; text-align: justify; text-indent: 0.25in">Please note that we are opining
only as to the matters expressly set forth herein, and no opinion should be inferred as to any other matters. This opinion is based upon
currently existing statutes, rules, regulations and judicial decisions, and we disclaim any obligation to advise you of any change in
any of these sources of law or subsequent legal or factual developments which might affect any matters or opinions set forth herein.</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"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-align: justify; text-indent: 0.25in">We understand that you wish
to file this opinion with the Commission as an exhibit to the Registration Statement in accordance with the requirements of Item 601(b)(5)&nbsp;of
Regulation S-K promulgated under the Securities Act and to reference the firm&rsquo;s name under the caption &ldquo;Legal Matters&rdquo;
in the prospectus which forms part of the Registration Statement, and we hereby consent thereto. In giving this consent, we do not admit
that we are within the category of persons whose consent is required under Section&nbsp;7 of the Securities Act or the rules&nbsp;and
regulations of the Commission promulgated thereunder.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 50%; padding: 0.75pt 1pt">&nbsp;</TD>
    <TD STYLE="width: 50%; padding: 0.75pt 1pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt 1.25pt; vertical-align: bottom; font-size: 10pt">Very truly yours.</TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt 1.25pt; vertical-align: bottom; font-size: 10pt">/s/ Mintz, Levin, Cohn, Ferris, Glovsky and</TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt 1.25pt; vertical-align: bottom; font-size: 10pt">Popeo, P.C.</TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt 1.25pt; vertical-align: bottom; font-size: 10pt">MINTZ, LEVIN, COHN, FERRIS, GLOVSKY AND</TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.25pt; padding-left: 1.25pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt 1.25pt; vertical-align: bottom; font-size: 10pt">POPEO, P.C.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 7pt; margin: 0pt 0; text-align: center">BOSTON LOS ANGELES NEW YORK SAN DIEGO SAN FRANCISCO
TORONTO WASHINGTON<BR>
MINTZ, LEVIN, COHN, FERRIS, GLOVSKY AND POPEO, P.C.</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"></P>

<!-- Field: Page; Sequence: 2; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>5
<FILENAME>tm243656d1_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #231F20"><B>Exhibit 23.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>CONSENT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We consent to the incorporation by reference in
this Registration Statement on Form S-1 and related Prospectus of Cyclacel Pharmaceuticals, Inc. of our report dated March 8, 2023, except
for Notes 1, 15 and 17 as to which our report is dated November 28, 2023, relating to the consolidated financial statements of Cyclacel
Pharmaceuticals, Inc. and subsidiaries, appearing in the Annual Report on Form 10-K/A of Cyclacel Pharmaceuticals, Inc. for the year ended
December 31, 2022.</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">/s/ RSM US LLP</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">New York, New York</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">January 19, 2024</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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>6
<FILENAME>tm243656d1_ex107.htm
<DESCRIPTION>EXHIBIT 107
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<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; text-align: right"><B>Exhibit 107</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; text-align: center"><B>Calculation of Filing Fee Table</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; text-align: center"><U>Form S-1</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Form Type)</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; text-align: center"><U>Cyclacel Pharmaceuticals, Inc.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of Registrant as Specified in its Charter)</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; text-align: center">Table 1 &mdash; Newly Registered Securities</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 8.5pt"><B>Security Type</B></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center"><B>Security Class <BR>
Title</B></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center"><B>Fee Calculation<BR>
Rule <FONT STYLE="font-size: 10pt"><SUP>(3)</SUP></FONT></B></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center"><B>Amount <BR>
Registered <FONT STYLE="font-size: 10pt"><SUP>(1)</SUP></FONT></B></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center"><B>Proposed<BR>
Maximum<BR>
Offering Price<BR>
Per Unit <FONT STYLE="font-size: 10pt"><SUP>(2)</SUP></FONT></B></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center"><B>Maximum<BR>
Aggregate<BR>
Offering Price</B></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center"><B>Fee Rate</B></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center"><B>Amount of<BR>
Registration<BR>
Fee</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 8.5pt">Equity</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 2.25pt">Common stock, par value $0.001 per share</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">457(c)</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">411,969</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">$2.156</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">$888,205.17</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-right: 3pt; padding-bottom: 2pt; text-align: center">$0.00014760</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">$131.10</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 8.5pt"><B>Total Offering Amount</B></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">$888,205.17</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">$131.10</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 8.5pt"><B>Total Fees Previously Paid</B></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">&mdash;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 8.5pt"><B>Total Fee Offsets</B></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">&mdash;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 8.5pt"><B>Net Fee Due</B></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">$131.10</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: left">Pursuant to Rule 416(a) promulgated under the Securities Act
of 1933, as amended, this Registration Statement shall also cover any additional shares of common stock of Cyclacel Pharmaceuticals,
Inc. (the &ldquo;Registrant&rdquo;) that become issuable with respect of the securities identified in the above table by reason of any
stock dividend, stock split, recapitalization or other transaction effected without the Registrant&rsquo;s receipt of consideration that
results in an increase in the number of outstanding shares of Registrant&rsquo;s common stock.</TD>
</TR></TABLE>
<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: left">Estimated in accordance with Rules 457(c) solely for purposes
of calculating the registration fee on the basis of $2.156, the weighted average of the high and low prices of the Registrant&rsquo;s
common stock as reported on the Nasdaq Capital Market on January 17, 2024.</TD>
</TR></TABLE>
<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left; width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(3)</TD><TD STYLE="text-align: left">Consists of 411,969 shares of common stock registered for resale
by the selling security holders named in this Registration Statement, issuable upon the exercise of outstanding warrants.</TD>
</TR></TABLE>
<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">&nbsp;</P>

<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>tm243656d1_s1img01.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm243656d1_s1img01.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0@)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !_ 2P# 2(  A$! Q$!_\0
M'P   04! 0$! 0$           $" P0%!@<("0H+_\0 M1   @$# P($ P4%
M! 0   %] 0(#  01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T? D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0 'P$  P$! 0$!
M 0$! 0        $" P0%!@<("0H+_\0 M1$  @$"! 0#! <%! 0  0)W  $"
M Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O 58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,!  (1 Q$ /P#W^BBB@ IC
M?>IV:C8_-1IU =FFDBJ]S>0VL1>:144=237%ZO\ $*WA8PV,1F8<%NU:PISG
ML<U7$PI[NQW1=5') ^IJ%M0M$.&N(U/H6%>.WWBG6+R3/VHQ+V"8Q^M9TFHW
MDC$O=LQ[UUQP+>\CSIYG%?#$]R&IV;?=N(R?]X5.DRN,J0PKP5-0NU.5N''N
M2*NP>)=6MB"MXQ]C5O+W]EW%'-/YU9'MX(S3R1Q7F&G?$2:-U2^A#K_?3J*[
MW3=7M=5MQ+;2*W^SW%<53#5*7QGH4<72J_ :)YI,@<4F['/6EQGFL;M;G5*]
MM!PZTZFCKBG4V,****0!1110 4444 %%%% !1110 4444 %%%% !1110 444
M4 %%%% !1110 4A(Q2TQ\ <TKAU&EAUS6%X@\0VNB6Y>5LRL/W:CN:L:WJL.
MD:?)<2L %^Z.Y;L*\CEEO?$.IDC<TKMPO91750H.:YGL>?B\2X>Y3W':MKE]
MK5QF9R%)XB4\5<T[PAJ-^JNX\B$]V&#72V6B:=X7L_M>H,KSXR<^OM7.:MXJ
MO]7D\FTW16Y. J#YF^M=JJ)JU-'D2A=_O-6:1TKPSH_R7ER9YA_"IYJ!M;\.
MQ<1Z6''JRBJ5EX3O[I?.N9$ME]9&YQ4Y\.Z/!Q-K"Y[[.:$Z?61#4_Y1YUGP
MY/\ ++I3*/54I/[/\-Z@P6UO&MI/[C__ *Z8?#NES\6VLIG_ &N*I7?AG4+=
M-\/ESQKR6A8$UM%P^RW<CWFGS(-0\-WMBIF51- >CISQ5'3M3NM+G$EM*\9S
MG;V/UJ>PUN^TR4A'.P<-'+WK;?1(_$L U#2BL4^,20GUJI5+*U7448\W\+1G
M9>%O$:ZY"59=LT8^85TJD# SR?6O*C>6WPTTV34-8DWS3G:D:=36QX+^)NF>
M,[J2T@C:WN$&X(_5A7C5N6^A]+A>?V?O'?C[U.J.,Y[8Q4E9'2%%%% !1110
M 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 A.*BE;;DD\
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M="Q:9_PD%P8H)&@TJ#Y L?'F'N?TK>MO"FD0((Q9JW'5^2:T-'L(].TV&W0
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M%&*6B@H**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
+"BBB@ HHHH __]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>tm243656d1_s1img02.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm243656d1_s1img02.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0@)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !? .0# 2(  A$! Q$!_\0
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MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,!  (1 Q$ /P#W^BBFL>:
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M30>*<.E<QW)6"BBB@84444 %%%% !1110 4444 %%%% !1110 4444 %%%%
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MT9_J/PIXO];A&)M)24CO#-P?P-+0:94673 ZO;Z=>74HZ,T3?UJU]GU'4?\
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EHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@#_V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>9
<FILENAME>tm243656d1_ex5-1img001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm243656d1_ex5-1img001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0@)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !W &@# 2(  A$! Q$!_\0
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MB1XJ3PU\/M0U2"<">6+R;1U;K(_"E?7 RW_ :^,3R: "GB&0PF8(?+#!2V.
M2"0/T/Y4RO3O%GAQ?#_P8\+.R8N=1NGO)3CGYD&P?@H7\2: /,:]$^!__)6-
M'_[;_P#HB2O.Z]$^!_\ R5C1_P#MO_Z(DH ^NZ*** "O@>]_X^W_  _E7WQ7
MP/>_\?;_ (?RH @KZJ;PU'XI_9ZT^P*[ITTN.XML#)$J)E<?7E?HQKY5K[7^
M'/\ R33PY_V#X?\ T$4 ?%)ZTJ(TCJB*6=B % R2?2NN^)_AUO#/Q U2S$/E
M6\LIN+< Y'EN<C'L#D?A4WPKTF*^\91ZC>(3INCQ/J-V_0*L8ROU^;;QW -
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M8$F+_<;''X^A)]A\+_\ (IZ-_P!>,'_HM: /)_\ A7OA3_A=W]B?V+!_9O\
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APWHVHQ7]AIWDW46=C^?(V,@@\%B.A-%% '14444 ?__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
