TANGRAM THERAPEUTICS PLC
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Cash
£2.8m
-86.4% lowest in 3 filed years
Net assets
£20m
-44.7% lowest in 3 filed years
Employees
46
+15% highest in 3 filed years
Profit before tax
-£19m
-8.7% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
However, because the additional funding has not yet been legally committed and is not currently available for drawdown, there is a material uncertainty related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern.
-
Going-concern uncertainty disclosed
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2026-01-31
| Metric | Trend | 2024-01-31 | 2025-01-31 | 2026-01-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £318,000 | — | — | — | |
| Operating profit | -£13,794,000 | -£18,646,000 | -£19,932,000 | -6.9% | |
| Profit before tax | -£13,081,000 | -£17,609,000 | -£19,138,000 | -8.7% | |
| Net profit | -£11,166,000 | -£14,869,000 | -£16,464,000 | -10.7% | |
| Cash | £20,665,000 | £20,519,000 | £2,797,000 | -86.4% | |
| Total assets less current liabilities | £22,310,000 | £36,073,000 | £20,300,000 | -43.7% | |
| Net assets | £21,993,000 | £36,073,000 | £19,940,000 | -44.7% | |
| Equity | £21,993,000 | £36,073,000 | £19,940,000 | -44.7% | |
| Average employees | 35 | 40 | 46 | +15% | |
| Wages | £4,107,000 | £4,051,000 | £4,742,000 | +17.1% | |
| Directors' remuneration | £519,000 | £429,000 | £464,000 | +8.2% | |
| Directors' pension contributions | £22,000 | £23,000 | £23,000 | 0% | |
| Highest paid director | £373,000 | £275,000 | £284,000 | +3.3% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-01-31 | 2025-01-31 | 2026-01-31 |
|---|---|---|---|---|
| Return on capital employed | -61.8% | -51.7% | -98.2% | |
| Gearing (liabilities / total assets) | 11.9% | 5.5% | 12.9% | |
| Current ratio | 8.87x | 17.26x | 7.77x |
Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.
Name history
Renamed 4 times since incorporation — the current trading name was adopted 2025-09-18
- TANGRAM THERAPEUTICS PLC 2025-09-18 → present
- E-THERAPEUTICS PLC 2007-09-21 → 2025-09-18
- INROTIS TECHNOLOGIES LIMITED 2003-03-18 → 2007-09-21
- E-THERAPEUTIC SYSTEMS LIMITED 2001-11-13 → 2003-03-18
- CROSSCO (643) LIMITED 2001-10-15 → 2001-11-13
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- Crowe U.K. LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“However, because the additional funding has not yet been legally committed and is not currently available for drawdown, there is a material uncertainty related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern.”
Significant events
- “In October 2025 the Company also rebranded to become Tangram Therapeutics plc.”
- “TGM-312 entered clinical development with the initiation of the Phase 1/2 RESTORE-MASH trial.”
- “TGM-148 ... remains on track for a clinical trial application and clinical entry during 2026”
- “Tangram cancelled its admission to trading on AIM on 9 May 2024 and is now a public, unlisted company.”
- “Since the year end, TGM-312 entered clinical development with first participant first dose in March 2026.”
- “In April 2026, the Company completed a restructuring programme, reducing headcount by 15 employees.”
- “The Company is progressing a proposed financing from M&G and Richard Griffiths, both existing long-term shareholders of the Company.”
- “The current year R&D credit has not yet been approved by HMRC and, therefore, there is a risk that this claim may not be successful.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 23 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BRETHERTON, Tim | Secretary | 2022-11-25 | — | — |
| BRETHERTON, Michael Anthony | Director | 2020-02-10 | Dec 1955 | British |
| JONES, Trevor | Director | 2015-10-28 | Aug 1942 | British |
| MORTAZAVI, Ahmad Ali | Director | 2020-02-10 | Jan 1971 | British,Iranian |
| PRIOR, David Gifford Leathes, Lord | Director | 2024-05-23 | Dec 1954 | British |
| PUNNETT, Jeremy | Director | 2024-07-16 | Sep 1973 | British,New Zealander |
Show 23 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ANDRAS, Peter Emil, Dr | Secretary | 2004-10-05 | 2005-08-05 |
| CLARE, Sarah Collette | Secretary | 2020-02-28 | 2021-07-31 |
| DAWES, Christopher Charles Roland | Secretary | 2007-01-01 | 2007-10-05 |
| HOWSE, Nicholas Alan | Secretary | 2001-11-08 | 2004-10-05 |
| NICOLSON, Sean Torquil | Secretary | 2007-10-05 | 2017-02-28 |
| STEVEN, Susan Margaret | Secretary | 2017-03-15 | 2020-02-28 |
| DICKINSON DEES | Corporate Nominee Secretary | 2001-10-15 | 2001-11-08 |
| THE CITY PARTNERSHIP (UK) LTD | Corporate Secretary | 2005-08-05 | 2006-12-31 |
| VISTRA COMPANY SECRETARIES LIMITED | Corporate Secretary | 2021-08-01 | 2022-11-25 |
| BARLOW, Raymond John | Director | 2017-04-06 | 2020-02-10 |
| CARE, Timothy James | Nominee Director | 2001-10-15 | 2001-11-08 |
| CHOPRA, Rajesh, Dr | Director | 2012-02-03 | 2015-10-28 |
| CORDINER, Johnny Mark | Director | 2005-01-01 | 2011-06-10 |
| DRUCKER, Royston Frederick, Dr | Director | 2005-05-11 | 2010-09-08 |
| ELGER, Daniel William, Dr | Director | 2011-06-10 | 2014-04-07 |
| HOY, Bradley Richard | Director | 2008-09-04 | 2017-11-01 |
| JAMES, Oliver Francis Wintour, Professor | Director | 2007-10-05 | 2014-12-31 |
| MEDLICOTT, Steven | Director | 2014-04-07 | 2020-02-10 |
| NICOLSON, Sean | Director | 2015-04-01 | 2017-02-28 |
| ROSS, Iain Gladstone | Director | 2016-01-06 | 2020-02-10 |
| SELF, Stephen Raymond | Director | 2010-12-03 | 2016-09-30 |
| SODEN, Christine | Director | 2017-11-01 | 2020-02-10 |
| YOUNG, Malcolm Philip | Director | 2001-11-08 | 2016-07-12 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Invesco Ltd | Corporate entity | Shares 25–50%, Voting 25–50% | 2016-04-06 | Ceased 2019-10-28 |
Filing timeline
Last 20 of 256 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-09-18 CERTNM Certificate change of name company
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-14 | AA | accounts | Accounts with accounts type full | |
| 2026-06-20 | SH01 | capital | Capital allotment shares | |
| 2026-06-01 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-24 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-09-18 | CERTNM | change-of-name | Certificate change of name company | |
| 2025-08-07 | SH01 | capital | Capital allotment shares | |
| 2025-06-06 | AA | accounts | Accounts with accounts type full | |
| 2025-01-23 | RP04SH01 | capital | Second filing capital allotment shares | |
| 2025-01-15 | SH01 | capital | Capital allotment shares | |
| 2024-10-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-08-08 | SH01 | capital | Capital allotment shares | |
| 2024-07-19 | AP01 | officers | Appoint person director company with name date | |
| 2024-07-10 | SH01 | capital | Capital allotment shares | |
| 2024-06-28 | AA | accounts | Accounts with accounts type full | |
| 2024-06-03 | AP01 | officers | Appoint person director company with name date | |
| 2024-02-06 | SH01 | capital | Capital allotment shares | |
| 2024-01-24 | SH01 | capital | Capital allotment shares | |
| 2023-10-16 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-09-21 | SH01 | capital | Capital allotment shares | |
| 2023-07-21 | SH01 | capital | Capital allotment shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 4
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.