Companies / BLS

BLS PHARMACEUTICALS LIMITED

ASX:BLSHousehold & Personal Products
236.1M shares on issueASX (delayed) · snapshot 28 Oct 2026244.5M fully diluted+3.6% if every option and right converts$1.01price · delayed$236.1MMarket capAt the previous close. On a day the price moves, shares × today’s price will differ. Prices delayed.

Today’s holders own 96.6% of what they think they own, once every option and right converts.

Minimal
Dilution riskprovisional — limited history

1 cash raise in 24 months; 2% of shares in the money; since relisting as BLS; prior history under BXN not included

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway12+ quarters of funding
Share-count growth (24m)2.5%since relisting as BLS; prior history under BXN not included
Raise cadence (24m)1 cash raisesince relisting as BLS; prior history under BXN not included
Options & rights overhang3.6% of shares
In-the-money supply2.1% of shares
Pending proposed issuesnone

Between August 2026 and October 2026, its latest share-count filing, BLS PHARMACEUTICALS LIMITED's ordinary share count rose 2.5% to 236M shares; these figures cover only the period since the company's rename from BXN. The company completed one capital raising in the past 24 months, a A$110K placement with director participation in December 2025. Options and rights on issue could convert into 8M new shares, equal to 3.6% of the current share count, of which 2% are in the money; the nearest expiry is March 2027. The company reported more than 4 quarters of funding at the recent spend rate from the September 2026 quarter. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 26 Oct 2026
Quick answers · 2

When did BLS last raise capital?

The last capital raise in BLS Pharmaceuticals's filings is Placement (director participation) of $110k announced 15 Dec 2025, one of 1 cash raises in 24 months.

When do BLS's options expire?

Unexercised options and rights equal 3.6% of BLS Pharmaceuticals's shares on issue; the nearest expiry is Mar 2027.

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3.6%
Options & rights overhang
2.1%
In the moneyAn option whose exercise price is below the last closing share price, so converting it pays. These are the options most likely to become new shares soon. supply
1
Raises · last 12 months
12+ 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. Shown since relisting as BLS (6 July 2026); prior history under BXN is not included. Latest count 236.1M per ASX (delayed) (snapshot 28 Oct 2026).
230.0M232.5M235.0MJuly 26Aug 26Oct 26236.1M

Cash runway

12+ qtrs OURS
More than four quarters of funding at the recent spend rate.
More than three years of funding at the reported spend rate — far enough out that a dated estimate would be false precision.
$12.5M cash after burn.
FILED $12.7M cash · quarter ended 30 Sept 2026
OURS our estimate, carried to todayOURSOur estimate for today. We take the cash in the company’s latest cash report, deduct spending since at its reported rate, and, for quarterly filers, add raises announced after it. It moves daily; announced money may not all be received yet.$12.7M cash at 30 Sep 2026 − $0.2M spent ($761k a quarter × 28 days) = $12.5M left → 12+ qtrsFILED as the company reportedFILEDAs the company stated it in its latest cash report. Dated to the end of that period, it does not change until the next report.
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2 cash reports on record — Cash runway history
Cash, net spend and cover trend from every Appendix 4C/5B and 4D/4E on record up to 30 Sept 2026.
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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)

DateFormSecurityOn issue, per this filingSource
26 Oct 20262A · quoted issueBLS : ORDINARY FULLY PAID236.1MAppendix 2A
5 Oct 20262A · quoted issueBLS : ORDINARY FULLY PAID231.0MAppendix 2A
28 Sept 20262A · quoted issueBLS : ORDINARY FULLY PAID230.7MAppendix 2A
10 Sept 20262A · quoted issueBLS : ORDINARY FULLY PAID230.5MAppendix 2A
4 Sept 20262A · quoted issueBLS : ORDINARY FULLY PAID230.4MAppendix 2A
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6 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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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.

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Securities on issue, by class
How the share count and each option and rights class moved, month by month, with every number in a table.
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Capital raises

1 cash raise in the last 24 months · 1 in the last 12 months · counted since relisting as BLS (6 July 2026); prior history under BXN is not included

$110k
Placement (director participation)
15 Dec 2025 COMPLETE
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7 issues (incl. 4 exercises or conversions) 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.

5.0M of option supply could convert within 12 months — 2.1% of shares on issue
5.0M in the money, expiring in the window
Out-of-the-money options are excluded — at today’s price they expire rather than convert. So is condition-triggered supply, which has no expiry and no price, and convertibles that convert on their own terms rather than on a date.
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3 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 / 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.

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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

3.6%
Options & rights overhang · of current shares
2.1%
In-the-money supply · at current price
8.4M
Potential new shares
Mar 2027
Nearest expiry
What this supply is, and what converts it
  • Price-triggered5.0M · 2.1% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered3.4M · 1.5% 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: 5.0M priced (of which 5.0M in the money), 3.4M 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
4.2M8.4M$1.01 now0.25× today ($0.25) — 100k of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.51) — 5.0M of the priced supply in the money, 2.1% of shares on issue0.75× today ($0.76) — 5.0M of the priced supply in the money, 2.1% of shares on issue1× today ($1.01) — 5.0M of the priced supply in the money, 2.1% of shares on issue1.25× today ($1.26) — 5.0M of the priced supply in the money, 2.1% of shares on issue1.5× today ($1.52) — 5.0M of the priced supply in the money, 2.1% of shares on issue2× today ($2.02) — 5.0M of the priced supply in the money, 2.1% of shares on issue3× today ($3.03) — 5.0M of the priced supply in the money, 2.1% of shares on issue5× today ($5.05) — 5.0M of the priced supply in the money, 2.1% of shares on issue10× today ($10.10) — 5.0M of the priced supply in the money, 2.1% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $1.01 today, 5.0M securities are in the money (2.1% of shares on issue). No price up to ten times today’s switches on any more priced supply.

  • 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.
  • 3.4M (40.8% 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
BLSAGOptionsPrice-triggered$0.1026 Mar 2027100kFiling
BLSAFOptionsPrice-triggered$0.4426 Mar 20271.5MFiling
BLSAEOptionsPrice-triggered$0.5026 Mar 20273.4MFiling
BLSACPerformance rightsCondition-triggered——3.4MFiling

“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.

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4 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
23 Oct 2026Mr Jason HineOther incentive700k201.0M—3Y notice
23 Oct 2026Mr Samuel WatsonOther incentive2.7M—3.9M—3Y notice
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2 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

Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.