Item 8.01 Other Events.

Declaration of Quarterly Cash Dividend on 6% Convertible Exchangeable Preferred Stock

On September 7, 2022, the Board of Directors (the "Board") of Cyclacel Pharmaceuticals, Inc. (the "Company") declared a quarterly cash dividend in the amount of $0.15 per share on the Company's 6% Convertible Exchangeable Preferred Stock ("Preferred Stock"). The cash dividend will be payable on November 1, 2022 to the holders of record of the Preferred Stock as of the close of business on October 14, 2022.

The Board considered numerous factors in determining whether to declare the quarterly dividend, including the requisite financial analysis and determination of a surplus. While the Board will analyze the advisability of the declaration of dividends in future quarters, there is no assurance that future quarterly dividends will be declared.

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