Companies / AVH

AVITA MEDICAL INC.

ASX:AVHPharmaceuticals, Biotechnology & Life Sciences
154.6M shares on issueASX (delayed) · snapshot 11 Sept 2026186.5M fully diluted+20.6% if every option and right converts$2.78price · delayed$429.9Mmarket cap · indicative

Today’s holders own 82.9% of what they think they own, once every option and right converts.

Low
Dilution risk

Options/rights overhang 21% of shares; 1 cash raise in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runwayno data — not a quarterly (4C/5B) cash filer
Share-count growth (24m)0.0%no issuance filings since 2024; measured to the latest Appendix 2A, not to the share count above
Raise cadence (24m)1 cash raise
Options & rights overhang20.6% of shares
In-the-money supplyno data — an exercise price is on record for a minority of the supply
Pending proposed issuesnone

AVITA MEDICAL INC. has 155M ordinary shares outstanding as of July 2026. The company lodged one capital raise in the past 24 months, a A$22.7M placement in August 2025. No new share-issuance (Appendix 2A) filings have been lodged since January 2024, and growth in the share count over the relevant window is not stated. Options and rights on issue could convert into 32M new shares, representing 20.6% of the current share count, with the nearest expiry in December 2031. No in-the-money options are currently recorded. The company has not lodged a current quarterly cash report, so no funding-runway figure is available on that basis. No proposed securities issues are pending.

AI-generated summary of this page's cited filings · updated 9 Sept 2026
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20.6%
Options & rights overhang
—
In-the-money supply · most strikes not on record
0
Raises · last 12 months
—
Cash cover · not a quarterly filer

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 154.6M per ASX (delayed) (snapshot 11 Sept 2026).
130M140M150MDec 24Oct 25Sept 26Cash raise · 12 Aug 2025154.6M

Cash runway

Not a quarterly cash filer. This company does not lodge Appendix 4C/5B quarterly cash reports, so cash runway does not apply.

Issuance timeline

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

DateFormSecurityOn issue, per this filingSource
9 Sept 20263G · unquotedAVH : CHESS DEPOSITARY INTERESTS81.3MAppendix 3G
9 Sept 20263G · unquotedCHESS DEPOSITARY INTERESTS81.3MAppendix 3G
9 Sept 20263G · unquotedAVH : CHESS DEPOSITARY INTERESTS81.3MAppendix 3G
7 Sept 20263H · cancellationAVH : CHESS DEPOSITARY INTERESTS 5:181.3MAppendix 3H
12 Aug 20263G · unquotedCHESS DEPOSITARY INTERESTS81.3MAppendix 3G

Each filing states the count for the security it names, as at its own reference date and in the units of that filing — so the newest row (81.3M) need not equal the current count above (154.6M).

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118 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

1 cash raise in the last 24 months · 0 in the last 12 months

$22.7M
Placement
12 Aug 2025
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1 raise 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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38 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 Appendix 3B in the last 12 months reports an issue under the 15% placement capacity (as at 2026-09-12).
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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

20.6%
Options & rights overhang · of current shares
—
In-the-money supply · most strikes not on record
31.9M
Potential new shares
Dec 2031
Nearest expiry
What this supply is, and what converts it
  • Price-triggered31.0M · 20.0% of shares
    Options and warrants — they convert when the share price clears their exercise price.
    At least 26.9M of it states no exercise price — that much cannot be called in or out of the money.
  • Condition-triggered916k · 0.6% of shares
    Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.

Exercise price on record: 4.1M priced, 27.8M where the filing never states one. A security with no exercise price is never counted in the money — nothing is paid to convert it, so there is no price for it to be above.

Each figure is the filing’s own count of securities, not a share count — a 2A never states what one security converts into.

What a price move would switch on
15.9M31.9M$2.78 now0.25× today ($0.69) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($1.39) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($2.08) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($2.78) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($3.47) — 29k of the priced supply in the money, 0.0% of shares on issue1.5× today ($4.17) — 126k of the priced supply in the money, 0.1% of shares on issue2× today ($5.56) — 1.1M of the priced supply in the money, 0.7% of shares on issue3× today ($8.34) — 1.4M of the priced supply in the money, 0.9% of shares on issue5× today ($13.90) — 3.4M of the priced supply in the money, 2.2% of shares on issue10× today ($27.80) — 4.1M of the priced supply in the money, 2.6% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

An exercise price is on record for only 12.8% 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 $2.78 today. No more priced supply until 1.25× today’s price, which takes it to 29k (0.0% 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.
  • 27.8M (87.2% 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
AVHAAKOptionsPrice-triggered$12.1823 Dec 203113kFiling
AVHAALOptionsPrice-triggered$12.153 Jan 20327kFiling
AVHAAMOptionsPrice-triggered$8.601 Apr 20325kFiling
AVHAANOptionsPrice-triggered$4.971 July 2032135kFiling
AVHAAOOptionsPrice-triggered$5.6420 July 20324kFiling
AVHAAPOptionsPrice-triggered$5.165 Oct 20322kFiling
AVHAAROptionsPrice-triggered$6.9513 Dec 203216kFiling
AVHAASOptionsPrice-triggered$6.475 Jan 20335kFiling
AVHAATOptionsPrice-triggered$9.0624 Feb 20333kFiling
AVHAAUOptionsPrice-triggered$15.2510 May 203375kFiling
AVHAAVOptionsPrice-triggered$14.177 June 2033206kFiling
AVHAAWOptionsPrice-triggered$17.0016 June 2033150kFiling
AVHAAXOptionsPrice-triggered$17.011 July 203330kFiling
AVHABAOptionsPrice-triggered$13.4315 Nov 203353kFiling
AVHABIOptionsPrice-triggered$12.644 Jan 2034127kFiling
AVHABBOptionsPrice-triggered$12.644 Jan 2034503kFiling
AVHABCOptionsPrice-triggered$13.499 Jan 203490kFiling
AVHABDOptionsPrice-triggered$15.0624 Jan 203433kFiling
AVHABGOptionsPrice-triggered$8.8130 May 20347kFiling
AVHABHOptionsPrice-triggered$9.516 June 203420kFiling
AVHABJOptionsPrice-triggered$7.722 July 2034153kFiling
AVHABKOptionsPrice-triggered$9.801 Aug 203430kFiling
AVHABLOptionsPrice-triggered$8.077 Aug 2034115kFiling
AVHABNOptionsPrice-triggered$8.847 Sept 203430kFiling
AVHABOOptionsPrice-triggered$10.2618 Sept 203414kFiling
AVHABPOptionsPrice-triggered$8.7322 Jan 20351.1MFiling
AVHABQOptionsPrice-triggered$9.101 Feb 203510kFiling
AVHABROptionsPrice-triggered$8.688 Feb 203533kFiling
AVHABSOptionsPrice-triggered$8.9515 Apr 203548kFiling
AVHABTOptionsPrice-triggered$5.5414 June 203518kFiling
AVHABUOptionsPrice-triggered$5.178 July 203540kFiling
AVHABOptionsPrice-triggered$5.366 Aug 203519kFiling
AVHABWOptionsPrice-triggered$4.8111 Aug 20355kFiling
AVHABVOptionsPrice-triggered$5.5519 Aug 20354kFiling
AVHACOptionsPrice-triggered$3.475 Jan 203629kFiling
AVHAAOptionsPrice-triggered$3.7721 Jan 203697kFiling
AVHAGOptionsPrice-triggered$4.3118 Feb 2036727kFiling
—OptionsPrice-triggered$8.2011 Aug 203625kFiling
AVHAAA—Condition-triggered——916kFiling Meeting
AVHAAZWarrantsPrice-triggered——1.1MFiling
AVHAEOptionsPrice-triggered——25.8MFiling
AVHAAJOptionsPrice-triggered$17.63—13kFiling
AVHAAIOptionsPrice-triggered$18.21—27kFiling
AVHAAHOptionsPrice-triggered$19.13—4kFiling
AVHAAGOptionsPrice-triggered$20.21—22kFiling
AVHAAEOptionsPrice-triggered$20.76—10kFiling
AVHAABOptionsPrice-triggered$21.88—4kFiling
AVHAACOptionsPrice-triggered$21.93—68kFiling

“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.

A condition-triggered class has no exercise price and usually no expiry: what it vests on is set by a shareholder resolution, not by the register. Where the company lodged a notice of meeting before the class first appears here, it is linked as “Meeting” — that is where terms of this kind are put to shareholders. It is not confirmation that the document sets this class’s conditions, and no link appears where there is no such filing.

3 classes ceased in the last 12 months and are not counted above
The company’s own Appendix 2A restates each of these at zero. They are excluded from the overhang, the in-the-money supply and every figure on this page. Each count is the filing’s own count of securities in the class, not a share count — a 2A never states what one security converts into.
  • AVHAAQPrice-triggered170k securities → 05 Aug 2026 Appendix 2A
  • AVHAFPrice-triggered30k securities → 05 Aug 2026 Appendix 2A
  • AVHABEPrice-triggered20k securities → 03 July 2026 Appendix 2A
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48 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
3 June 2026Cary G. VanceOther3k———3Y notice
3 June 2026Dr. Michael TarnoffOther—19k48k—3Y notice
3 June 2026Jan Stern ReedOther—16k22k—3Y notice
3 June 2026Jeremy Curnock CookOther22k16k——3Y notice
3 June 2026Professor Suzanne CroweOther22k16k——3Y notice
3 June 2026Robert McNamaraOther3k16k22k—3Y notice
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26 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

11 Sept 2026Statement of CDIs on issue - AVH
9 Sept 2026Notification regarding unquoted securities - AVH
9 Sept 2026Notification regarding unquoted securities - AVH
9 Sept 2026Notification regarding unquoted securities - AVH
7 Sept 2026Notification of cessation of securities - AVH
2 Sept 2026AVITA to participate in US bank investor conferences
18 Aug 2026AVITA Investor Webinar Slides on PermeaDerm
18 Aug 2026$PAVITA announces positive PermeaDerm study results
12 Aug 2026Notification regarding unquoted securities - AVH
9 Aug 2026AVITA Medical Investor Presentation August 2026
9 Aug 2026AVITA Medical to Host Investor Webinar Briefing
9 Aug 2026AVITA to participate at Canaccord Genuity Growth Conference
7 Aug 2026Statement of CDIs on issue - AVH
6 Aug 2026$PAVITA 10-Q Quarterly Report for Q2 2026
6 Aug 2026$PHalf Yearly Report
6 Aug 2026$PAVITA Q2 financial results earnings presentation
6 Aug 2026$PAVITA Medical announces Q2 2026 financial results
5 Aug 2026Notification of cessation of securities - AVH
14 July 2026AVITA to Announce Second Quarter 2026 Financial Results
14 July 2026Statement of CDIs on issue - AVH

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