AROVELLA THERAPEUTICS LIMITED
ASX:ALAPharmaceuticals, Biotechnology & Life SciencesToday’s holders own 85.8% of what they think they own, once every option and right converts.
Runway 4–8 quarters; 2 cash raises in 24 months; options/rights overhang 16% of shares
AROVELLA THERAPEUTICS LIMITED's ordinary share count grew 14.4% between October 2024 and June 2026, its latest share-count filing, to 1.21B shares. The company raised capital twice in the 24-month window for total disclosed proceeds of A$15.0M, most recently a A$15.0M placement in February 2025. Options and rights on issue could convert into 200M new shares, equal to 16.5% of the current share count, none of which are in the money; the nearest expiry falls in May 2027. The company has more than 4 quarters of funding at the recent spend rate. No proposed securities issues are currently pending.
Quick answers · 5
When did ALA last raise capital?
The last capital raise in Arovella Therapeutics's filings is Placement of $15.0M announced 26 Feb 2025, one of 2 cash raises in 24 months.
How much placement capacity does ALA have left?
About 99% of the 15% placement capacity left, about 1% used in 12 months (estimate). Under ASX Listing Rule 7.1 a company may place up to 15% of its shares in 12 months without shareholder approval.
How much cash does ALA have?
In its quarterly cash report for the quarter ended 30 Sept 2026, Arovella Therapeutics reported $11.6M of cash and estimated 4.2 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do ALA's options expire?
Unexercised options and rights equal 16.5% of Arovella Therapeutics's shares on issue; the nearest expiry is May 2027.
How much has ALA's share count grown?
Arovella Therapeutics has 1.21B shares on issue as at 28 Oct 2026, up 14.4% over 24 months according to its Appendix 2A filings.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 5 filings (Appendix 2AThe form a company lodges to have new securities quoted on the ASX. It restates how many of each class are on issue. quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 17 Aug 2026 | 3G · unquoted | ORDINARY FULLY PAID | 1.21B | Appendix 3G |
| 30 June 2026 | 2A · quoted issue | ALA : ORDINARY FULLY PAID | 1.21B | Appendix 2A |
| 30 June 2026 | 3H · cancellation | ALA : ORDINARY FULLY PAID | 1.21B | Appendix 3H |
| 26 May 2026 | 3H · cancellation | ALA : ORDINARY FULLY PAID | 1.21B | Appendix 3H |
| 8 May 2026 | 3H · cancellation | ALA : ORDINARY FULLY PAID | 1.21B | Appendix 3H |
Securities on issue over time
Ordinary shares and every option and rights class, month by month over two years. The top edge is the fully diluted count.
Capital raises
2 cash raises in the last 24 months · 0 in the last 12 months
Forward supply
Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.
Placement capacity
How much stock a company can place without asking holders. Listing Rule 7.1 / 7.1ARule 7.1 lets a company issue up to 15% of its shares in 12 months without a shareholder vote. Rule 7.1A adds 10% for smaller companies whose holders approve it. allows 15% of ordinary securities in any 12 months, and every Appendix 3BNotice that a company proposes to issue new securities, such as a placement. The securities are not on issue until a later filing confirms it. states how much of it an issue uses.
Pending proposed issues
Options & convertible securities
An exercise price is on record for only 22.0% of this supply, so what is in the money today is not a measurement — the tile above reads “—” for that reason. Of the priced supply, 0 is in the money at $0.051 today. At double today’s price it is 44.0M (3.6% of shares).
- Priced supply in the money at the price on the axis — the curve, and the only thing on it. Ten prices, sampled: between two of them the true figure lies between the two.
- 155.8M (78.0% of the supply above) states no exercise price at all. It cannot be called in or out of the money at any price, which is why it is hatched rather than plotted.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| ALAO | Options | Price-triggered, no exercise price stated | — | 24 May 2027 | 155.8M | Filing |
| ALAAA | Options | Price-triggered | $0.10 | — | 44.0M | Filing |
“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column. For what expires soon across other listed companies, see the options expiry calendar.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 9 June 2026 | David John Williams | Buy on-market | 200k | — | — | $13k | 3Y notice |
| 24 Nov 2025 | Elizabeth Stoner | Other | 1.2M | — | — | — | 3Y notice |
| 12 Nov 2025 | Debora Barton | Buy | 1.0M | 1.4M | — | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.