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Tiziana Life Sciences Ltd logo
TLSA$0.6703+0.04%

Tiziana Life Sciences Ltd

Sector: Pharmaceutical PreparationsIndustry: BiotechnologyCountry: GBExchange: Nasdaq

Mkt Cap$87.38M
Float & O/S
Inst Own

DilutionScan read 43 of Tiziana Life Sciences Ltd's SEC filings and found 3 warrant series, 1 ATM program, 2 shelf registrations and 1 completed offering on file for TLSA. The latest dilution event on file is a warrant issuance on Jan 19, 2026. Analysis updated Oct 6, 2026.

Signal8 Summary

TLSA

Clinical biotech with a 2-month cash runway

Business
WeakNo revenue, $18.4M net loss, runway 2.3 months
Stock risk
High$143M micro-cap, shares +10.9% YoY, 73% dilution overhang

Snapshot

Tiziana is a clinical-stage biotech with no product revenue, running several early-stage trials of its antibody foralumab.

What's Happening Right Now

  • : On Oct 16, 2026, Tiziana finished dosing the last patient in its Phase 2 trial of intranasal foralumab for mild Alzheimer's disease, with topline data expected in Q1 2027.
  • : On Sep 30, 2026, Tiziana asked the FDA for orphan drug designation for intranasal foralumab in multiple system atrophy, an early regulatory step rather than a clinical decision.
  • : On Sep 28, 2026, Tiziana dosed the first three patients in a Phase 2a ALS trial of intranasal foralumab, an early execution milestone with no efficacy data yet.
  • : On Sep 21, 2026, the last patient completed final visits in the Phase 2a INFORM-MS trial of intranasal foralumab in secondary progressive MS, setting up a topline data readout.
  • : On Jul 31, 2026, Tiziana reported PET imaging showing reduced brain inflammation in a third multiple system atrophy patient treated with intranasal foralumab.
  • : Issued warrants over 8.80M shares.
  • : Sold 1.21M shares through its at-the-market program, as stated for Jul 1, 2025 to Jan 16, 2026.
  • : Sold $10.06M net through its at-the-market program, as stated for Jan 1, 2025 to Dec 31, 2025.

Raise routes on file: active ATM + effective shelf · latest dilution event 288 days ago

Overall Risk
Offering Ability
Overhead Supply
Historical
Cash Need

AI dilution summary

The dominant contractual driver and its mechanism, then each further driver ranked.

Latest dilution event

Jan 19, 2026 · Warrant Issuance

How we read filings

Every warrant, convertible, ATM and shelf, cited to the filing

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Share count and cash history

Shares outstanding, potential dilution and cash over time

Warrants · 3

What is this?

Exercise price, shares and dates with Pro

Warrant

Issued 2026

Expired

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

warrants ( shares, outstanding at June 30, 2025)

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

Warrant

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

ATM · 1

What is this?

Capacity, sold to date and agent with Pro

ATM program

Issued 2024

Active

Total capacity

Sold to date

Remaining capacity
Sales agent
Agreement date
Commission
Filing link and full terms

Shelf · 2

What is this?

Capacity, dates and baby-shelf status with Pro

F-3 shelf registration

Issued 2025

Active

Total capacity

Remaining

Filed
Effective
Expires
Baby shelf
Filing link and full terms

F-3 shelf registration

Expired

Total capacity

Remaining

Filed
Effective
Expires
Baby shelf
Filing link and full terms

Offerings · 1

What is this?

Proceeds, price, shares and agent with Pro

Registered direct offering

Gross proceeds

Price per share

Shares issued
Warrant coverage
Placement agent
Filing link and full terms

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Exercise prices, conversion terms, shelf headroom and the filing sentence behind every number.

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