Companies / ATH

ALTERITY THERAPEUTICS LIMITED

ASX:ATHPharmaceuticals, Biotechnology & Life Sciences
229.1M shares on issueASX (delayed) · snapshot 11 Sept 2026276.7M fully diluted+20.8% if every option and right converts$0.48price · delayed$110.0Mmarket cap · indicative

Today’s holders own 82.8% of what they think they own, once every option and right converts.

High
Dilution risk

Share count grew 115% in 24 months; 4 cash raises in 24 months; runway 4–8 quarters

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway4.9 quarters of funding
Share-count growth (24m)115.3%
Raise cadence (24m)4 cash raises
Options & rights overhang20.8% of shares
In-the-money supply6.8% of shares
Pending proposed issuesnone

ALTERITY THERAPEUTICS LIMITED underwent an approximately 1-for-50 share consolidation in June 2026. Following this consolidation, the company's ordinary share count grew 115.3% between July 2024 and September 2026, reaching 229M shares. Over the past 24 months, four capital raises totalling A$102.1M have occurred, with the most recent being a A$20.0M placement in September 2025. Options and rights on issue could convert into 48M new shares, representing 20.8% of current shares outstanding, with 7% in the money; the nearest expiry date for these is November 2026. As of the June 2026 quarter, the company held A$35.5M in available cash, sufficient for approximately 4.9 quarters of operations. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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20.8%
Options & rights overhang
6.8%
In-the-money supply · most strikes not on record
0
Raises · last 12 months
4.9 qtrs
Cash cover · over 4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Adjusted for the 1-for-50 consolidation (1 June 2026). Latest count 229.1M per ASX (delayed) (snapshot 11 Sept 2026).
100M150M200MDec 24Oct 25Sept 261-for-50 consolidationCash raise · 3 Sept 2025Cash raise · 10 Feb 2025Cash raise · 5 Feb 2025Cash raise · 31 Jan 2025229.1M

Cash runway

4.9 qtrs
More than four quarters of funding at the recent spend rate.
Funds operations to about Sept 2027 at the reported spend rate.
$35.4M cash after burn from the quarter ended 30 June 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds. Filed with the quarterly report: $37.3M cash at quarter end (item 4.6), 5.2 qtrs of funding on the company’s own estimate. Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.
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14 quarters on record — Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 30 June 2026.
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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityOn issue, per this filingSource
8 Sept 20262A · quoted issueATH : ORDINARY FULLY PAID229.1MAppendix 2A
1 Sept 20262A · quoted issueATH : ORDINARY FULLY PAID220.7MAppendix 2A
28 Aug 20262A · quoted issueATH : ORDINARY FULLY PAID220.2MAppendix 2A
21 Aug 20262A · quoted issueATH : ORDINARY FULLY PAID218.5MAppendix 2A
14 Aug 20262A · quoted issueATH : ORDINARY FULLY PAID218.3MAppendix 2A
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49 filings on record — Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
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Capital raises

4 cash raises in the last 24 months · 0 in the last 12 months

every 2.4 monthsaverage gap between raises
12.3 monthssince the most recent
31 Jan 2025 – 3 Sept 2025first to most recent in this window
$20.0M
Placement
3 Sept 2025 COMPLETE
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12 raises on record — Full raise history
Issue price, shares issued, brokers and stated purpose for every raise on record.
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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.

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16 dated events on record — Forward supply calendar
Option expiries and proposed issues on one forward timeline, with the securities each could add.
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Placement capacity

How much stock a company can place without asking holders. Listing Rule 7.1 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.

No estimate — a share consolidation inside the last 12 months puts the filings and the share count in different units.
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Placement capacity — LR 7.1 / 7.1A
The filings behind the figure: every Appendix 3B in the window with what it says was issued under 7.1 and 7.1A, each row linked to its filing, and how many shares are left.
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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

20.8%
Options & rights overhang · of current shares
6.8%
In-the-money supply · most strikes not on record
47.6M
Potential new shares
Nov 2026
Nearest expiry
What a price move would switch on
23.8M47.6M$0.48 now0.25× today ($0.12) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.24) — 2.5M of the priced supply in the money, 1.1% of shares on issue0.75× today ($0.36) — 8.8M of the priced supply in the money, 3.8% of shares on issue1× today ($0.48) — 15.6M of the priced supply in the money, 6.8% of shares on issue1.25× today ($0.60) — 19.4M of the priced supply in the money, 8.5% of shares on issue1.5× today ($0.72) — 19.7M of the priced supply in the money, 8.6% of shares on issue2× today ($0.96) — 19.7M of the priced supply in the money, 8.6% of shares on issue3× today ($1.44) — 22.9M of the priced supply in the money, 10.0% of shares on issue5× today ($2.40) — 23.1M of the priced supply in the money, 10.1% of shares on issue10× today ($4.80) — 23.1M of the priced supply in the money, 10.1% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.48 today, 15.6M securities are in the money (6.8% of shares on issue) — a floor, because an exercise price is on record for only 48.6% of this supply. No more priced supply until 1.25× today’s price, which takes it to 19.4M (8.5% 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.
  • 24.4M (51.4% 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.
CodeSecurityTypeExercise priceExpiryOn issueSource
ATHAAGOptionsPrice-triggered$1.1929 Nov 2026230kFiling
ATHAAEOptionsPrice-triggered$1.8829 Nov 2026200kFiling
ATHAAHOptionsPrice-triggered$0.5319 Dec 2026160kFiling
ATHOAOptionsPrice-triggered—26 Feb 202724.4MFiling
ATHAAKOptionsPrice-triggered$0.5030 Dec 20273.4MFiling
ATHABOptionsPrice-triggered$0.1513 Mar 20291.3MFiling
ATHAAOptionsPrice-triggered$0.2013 Mar 2029403kFiling
ATHACOptionsPrice-triggered$0.1521 Mar 2029800kFiling
ATHADOptionsPrice-triggered$0.501 July 2030300kFiling
ATHAFOptionsPrice-triggered$0.438 Aug 20306.2MFiling
ATHAEOptionsPrice-triggered$0.658 Aug 2030230kFiling
ATHAAMOptionsPrice-triggered$0.2813 Jan 2031870kFiling
ATHAGOptionsPrice-triggered$0.2826 Mar 20311.2MFiling
ATHAJOptionsPrice-triggered$0.3015 Apr 20314.2MFiling
ATHAKOptionsPrice-triggered$0.4515 Apr 2031540kFiling
ATHALOptionsPrice-triggered$1.0015 June 20313.0MFiling

“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.

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16 option lines on record — In-the-money value & price ladder
What each line is worth in the money today, the price ladder to the next tranche that converts, and the filing description behind every code.
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Director dealings

DateDirectorTypeSharesOptionsOtherValueSource
31 Aug 2026David StamlerSell234k48k——3Y notice
31 Aug 2026Peter MarksOther191k600k—$24k3Y notice
15 June 2026Julian BarbaczyOther incentive—2.0M——3Y notice
15 June 2026Lawrence GozlanOther incentive121k1.0M——3Y notice
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19 notices on record — Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

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Top-20 holders & substantial holder notices
Top-20 register snapshot and substantial-holder movements, each linked to its source notice.
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Latest announcements

8 Sept 2026Cleansing Notice Under Section 708A
8 Sept 2026Application for quotation of securities - ATH
2 Sept 2026Alterity to Present at Cantor Global Healthcare Conference
2 Sept 2026Change of Director's Interest Notice - Stamler
2 Sept 2026Change of Director's Interest Notice - Marks
1 Sept 2026Application for quotation of securities - ATH
31 Aug 2026Alterity Therapeutics Filed Form 20-F and XBRL Data with SEC
30 Aug 2026$P$4.2M Options Underwriting Agreement Executed
28 Aug 2026Application for quotation of securities - ATH
28 Aug 2026Corporate Governance Statement
28 Aug 2026Appendix 4G
28 Aug 2026$PAppendix 4E and 2026 Annual Report
21 Aug 2026Application for quotation of securities - ATH
17 Aug 2026Disclosure Under Takeovers Panel GN 20
14 Aug 2026Application for quotation of securities - ATH
11 Aug 2026$PGranted New U.S. Composition of Matter Patent for ATH434
10 Aug 2026Application for quotation of securities - ATH
6 Aug 2026Alterity to Present at Canaccord Genuity Growth Conference
3 Aug 2026Application for quotation of securities - ATH
30 July 2026$PQuarterly Activities/Appendix 4C Cash Flow Report

Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.