Companies / IBX

IMAGION BIOSYSTEMS LIMITED

ASX:IBXHealth Care Equipment & Services
801.0M shares on issueASX (delayed) · snapshot 11 Sept 20261.36B fully diluted+70.3% if every option and right converts$0.008price · delayed$6.4Mmarket cap · indicative

Today’s holders own 58.7% of what they think they own, once every option and right converts.

High
Dilution risk

Share count grew 2147% in 24 months; 6 cash raises in 24 months; options/rights overhang 70% of shares

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway7.4 quarters of funding
Share-count growth (24m)2147.1%
Raise cadence (24m)6 cash raises
Options & rights overhang70.3% of shares
In-the-money supplyno data — an exercise price is on record for a minority of the supply
Pending proposed issuesopen proposed issue (Appendix 3B)

IMAGION BIOSYSTEMS LIMITED's ordinary share count increased by 2147.1% between August 2024 and September 2026, reaching 801M shares. In the past 24 months, the company undertook 6 capital raises totalling A$14.4M, with the most recent being a A$3.8M placement in June 2026. There are options and rights representing potential new shares of 563M, equating to 70.3% of the current share count, with the nearest expiry in May 2027. No options are currently in the money. As of the June 2026 quarter, the company reported A$3.7M in available cash, sufficient to cover 7.4 quarters of operations. One proposed securities issue (Appendix 3B) is pending, with an expected issue date of November 2026.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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70.3%
Options & rights overhang
—
In-the-money supply · most strikes not on record
3
Raises · last 12 months
7.4 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. Latest count 801.0M per ASX (delayed) (snapshot 11 Sept 2026).
0M250M500M750MDec 24Oct 25Sept 26Cash raise · 22 June 2026Cash raise · 16 Apr 2026Cash raise · 29 Sept 2025Cash raise · 30 July 2025801.0M

Cash runway

7.4 qtrs
More than four quarters of funding at the recent spend rate.
Funds operations to about Apr 2028 at the reported spend rate.
$3.7M 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: $32k cash at quarter end (item 4.6), 21.3 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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11 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
1 Sept 20262A · quoted issueIBX : ORDINARY FULLY PAID801.0MAppendix 2A
31 Aug 20262A · quoted issueIBX : ORDINARY FULLY PAID801.0MAppendix 2A
27 Aug 20263H · cancellationIBX : ORDINARY FULLY PAID801.0MAppendix 3H
18 Aug 20262A · quoted issueIBX : ORDINARY FULLY PAID692.5MAppendix 2A
17 Aug 20262A · quoted issueIBX : ORDINARY FULLY PAID648.5MAppendix 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

6 cash raises in the last 24 months · 3 in the last 12 months

every 4.1 monthsaverage gap between raises
2.7 monthssince the most recent
7 Oct 2024 – 22 June 2026first to most recent in this window
$3.8M
Placement
22 June 2026 COMPLETE
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9 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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11 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 — the only Appendix 3B in the window claiming the 15% capacity states more than the whole allowance, so it cannot be counted.
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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

1 proposed issue pending — Appendix 3B lodged, securities not yet issued. New shares from these issues are not in the counts above until quoted.
Paid plan
1 pending issue on record — Pending issue detail
Size, price, fees, broker and placement-capacity usage for each pending issue.
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Options & convertible securities

70.3%
Options & rights overhang · of current shares
—
In-the-money supply · most strikes not on record
563.0M
Potential new shares
May 2027
Nearest expiry
What this supply is, and what converts it
  • Price-triggered552.1M · 68.9% of shares
    Options and warrants — they convert when the share price clears their exercise price.
    At least 494.0M of it states no exercise price — that much cannot be called in or out of the money.
  • Condition-triggered8.1M · 1.0% of shares
    Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.
  • Converts on terms2.8M · 0.3% of shares
    Convertibles with no exercise price — they convert on their own terms, so they are shares in all but name.

Exercise price on record: 58.2M priced, 504.8M 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
281.5M563.0M$0.008 now0.25× today ($0.002) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.004) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.006) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.008) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.010) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.012) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.016) — 4.7M of the priced supply in the money, 0.6% of shares on issue3× today ($0.024) — 6.7M of the priced supply in the money, 0.8% of shares on issue5× today ($0.040) — 17.3M of the priced supply in the money, 2.2% of shares on issue10× today ($0.080) — 55.8M of the priced supply in the money, 7.0% 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 10.3% 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 $0.008 today. At double today’s price it is 4.7M (0.6% 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.
  • 504.8M (89.7% 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.
  • 2.4M more carries an exercise price above ten times today’s — off the right of this axis, and in every total on this page.
CodeSecurityTypeExercise priceExpiryOn issueSource
IBXAABOptionsPrice-triggered$1.121 May 202769kFiling
IBXAAXOptionsPrice-triggered$0.1129 May 20272.0MFiling
IBXABBOptionsPrice-triggered$0.04310 Sept 202712.3MFiling
IBXOOptionsPrice-triggered—13 Dec 2027490.8MFiling
IBXAACOptionsPrice-triggered$1.121 May 202850kFiling
IBXABDOptionsPrice-triggered$0.01929 May 20282.0MFiling
IBXAAOptionsPrice-triggered$0.04021 Sept 202826.3MFiling
IBXAAVOptionsPrice-triggered$0.6428 Feb 202975kFiling
IBXABFOptionsPrice-triggered$0.03023 Apr 202910.6MFiling
IBXABEOptionsPrice-triggered$0.01229 May 20304.7MFiling
IBXAAZPerformance rightsCondition-triggered——375kFiling Meeting
IBXABAPerformance rightsCondition-triggered——500kFiling Meeting
IBXAAYPerformance rightsCondition-triggered——975kFiling Meeting
IBXAGPerformance rightsCondition-triggered——2.2MFiling Meeting
IBXAAQNotesConverts on terms——2.8MFiling
IBXAFOptionsPrice-triggered——3.1MFiling
IBXAHPerformance rightsCondition-triggered——4.0MFiling Meeting
IBXAAMOptionsPrice-triggered$1.68—22kFiling
IBXAAHOptionsPrice-triggered$3.49—100kFiling

“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.

1 class ceased in the last 12 months and is 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.
  • IBXAAJCondition-triggered25k securities → 010 Dec 2025 Appendix 2A
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19 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
18 Aug 2026Brett MitchellOther placement2.1M1.0M—$25k3Y notice
18 Aug 2026Dr Nina WebsterOther2.1M1.0M—$25k3Y notice
18 Aug 2026Robert Romeo ProulxOther2.1M1.0M—$25k3Y notice
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13 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

3 Sept 2026IBX Investor Presentation
1 Sept 2026Cleansing Notice
1 Sept 2026Application for quotation of securities - IBX
31 Aug 2026Application for quotation of securities - IBX
27 Aug 2026Notification of cessation of securities - IBX
25 Aug 2026$PIBX Phase 2 Clinical Trial Update
25 Aug 2026Change of Director's Interest Notices - RP, BM, NW
24 Aug 2026$PAppendix 4D and Half-yearly Financial Report
18 Aug 2026Cleansing Notice
18 Aug 2026Application for quotation of securities - IBX
17 Aug 2026Cleansing Notice
17 Aug 2026Application for quotation of securities - IBX
10 Aug 2026Results of General Meeting
30 July 2026$PAppendix 4C and Quarterly Activities Report - June 2026
28 July 2026Proposed issue of securities - IBX
28 July 2026Non-Dilutive Short-Term Funding Secured
7 July 2026Notice of General Meeting/Proxy Form
6 July 2026Imagion Extends Collaboration with Siemens Healthineers
1 July 2026Cleansing Notice
1 July 2026Application for quotation of securities - IBX

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