--- title: "Preferred stock removed from Nasdaq as Bio Green Med reports first-quarter" url: "https://aibio.space/news/preferred-stock-removed-nasdaq-bio-green-med-reports-first-quarter/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-05-14" section: "Listings" tickers: "NASDAQ:BGMS" source: "https://www.sec.gov/Archives/edgar/data/1130166/000149315226023117/ex99-1.htm" summary: "The 6% Convertible Exchangeable Preferred Stock, under the symbol BGMSP, stopped trading in March. The common stock, BGMS, remains listed, and first-quarte" --- By the aibio.space news desk. Sources - [Bio Green Med Solution, Inc. 8-K (2026-05-14)](https://www.sec.gov/Archives/edgar/data/1130166/000149315226023117/ex99-1.htm) - [Bio Green Med Solution, Inc. 10-K (2026-03-30): business](https://www.sec.gov/Archives/edgar/data/1130166/000149315226013669/form10-k.htm) - [Bio Green Med Solution, Inc. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1130166/000149315226013669/) [BGMS](https://aibio.space/companies/bio-green-med-solution/) 2026-05-14 # Preferred stock removed from Nasdaq as Bio Green Med reports first-quarter results Tickers [BGMS](https://aibio.space/companies/bio-green-med-solution/) The 6% Convertible Exchangeable Preferred Stock, under the symbol BGMSP, stopped trading in March. The common stock, BGMS, remains listed, and first-quarter product revenue was $0.8 million. ## Key facts - **Company**: Bio Green Med Solution, Inc. (NASDAQ: BGMS) - **News type**: Listings - **Primary source**: [Bio Green Med Solution, Inc. 8-K (2026-05-14)](https://www.sec.gov/Archives/edgar/data/1130166/000149315226023117/ex99-1.htm) *The White House and its lawn. CC0, via rawpixel. The picture shows the field, not the companies named.* Bio Green Med Solution, Inc. (Nasdaq: [BGMS](https://aibio.space/companies/bio-green-med-solution/)) said in a first-quarter results release filed on May 14, 2026 that trading in its 6% Convertible Exchangeable Preferred Stock had been suspended on the Nasdaq Capital Market in March. The company then filed a Form 25-NSE with the SEC, which removed the preferred stock from listing and registration on Nasdaq. The company said the delisting did not affect its common stock, which remains listed on the Nasdaq Capital Market under the symbol BGMS. The release also reports a quarterly cash dividend of $0.15 per share on the preferred stock. The board declared that dividend in April, and it was paid on May 1, 2026, to holders of record on April 23, 2026. ## First-quarter results Product revenue from sales and distribution of fire safety equipment was $0.8 million for the three months ended March 31, 2026. The company acquired Fitters Sdn. Bhd. on September 12, 2025. Cost of sales for that business was $0.6 million. General and administrative expenses fell by about $3.8 million, to $0.4 million from $4.2 million in the first quarter of 2025. The company said the decline reflected one-time costs tied to two changes of control during the prior period, as well as lower operating costs under current management. The net loss for the quarter was $0.2 million, compared with $0.1 million a year earlier. Total other income, net, rose to $79,000 from $8,000, due largely to foreign exchange gains. Chief Executive Officer Datuk Dr. Doris Wong Sing Ee described the quarter as showing "meaningful progress in our strategic transformation." The company said it was encouraged by early momentum in the fire safety business. It also said that the company has transitioned its operations to focus on fire safety protection and distribution. The first quarter of 2025 included net income from discontinued operations of $4.1 million. That figure combined operating losses of $0.8 million from the former biopharmaceutical activities with a gain of $4.9 million on the deconsolidation of a former subsidiary. There was no discontinued operations activity in the current period. ## Cash and runway As of March 31, 2026, cash and cash equivalents totaled $3.3 million, compared with $3.5 million as of December 31, 2025. Net cash used in operating activities was $0.3 million for the quarter. The company estimates that its current cash resources will fund planned expenditure into the fourth quarter of 2026. ## Background on the company Bio Green Med Solution is a Delaware corporation headquartered in Kuala Lumpur, Malaysia. It was formerly known as Cyclacel Pharmaceuticals, Inc. Its annual report for 2025, filed March 30, 2026, shows revenue of $0 for 2025 and $43,000 for 2024. Research and development expense was $848,000 for 2025 and $6.7 million for 2024. Net loss was $3.0 million for 2025 and $11.2 million for 2024. The annual report also says the company repurchased certain plogosertib assets from Cyclacel Limited on March 10, 2025, for approximately $0.3 million in cash. The company's clinical research programs ran through Cyclacel Limited until a creditors' voluntary liquidation of that subsidiary was announced on January 31, 2025. The company then reported the deconsolidation and moved to a fire safety focus. ## Weak earnings, short runway The quarterly loss rose to $0.2 million from $0.1 million even though general and administrative costs fell by about $3.8 million, because the earlier quarter had a $4.1 million net gain from discontinued operations that included a $4.9 million deconsolidation gain. Revenue of $0.8 million came with cost of sales of $0.6 million. The company estimates its cash lasts only into the fourth quarter of 2026, with $3.3 million on hand against $0.3 million used in operations in the quarter. The release gives no reason for the preferred stock's removal from Nasdaq and does not describe any further steps on that listing. The CEO's "meaningful progress" is the company's description. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story BGMS Bio Green Med Solution, Inc. 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Cite as: aibio.space, "Preferred stock removed from Nasdaq as Bio Green Med reports first-quarter", 2026-05-14, https://aibio.space/news/preferred-stock-removed-nasdaq-bio-green-med-reports-first-quarter/