Companies / IMU

IMUGENE LIMITED

ASX:IMUPharmaceuticals, Biotechnology & Life Sciences
548.9M shares on issueASX (delayed) · snapshot 11 Sept 2026779.9M fully diluted+42.1% if every option and right converts$0.058price · delayed$31.8Mmarket cap · indicative

Today’s holders own 70.4% of what they think they own, once every option and right converts.

Very high
Dilution risk

Runway under 2 quarters; share count grew 151% in 24 months; 8 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway0.2 quarters of funding
Share-count growth (24m)150.9%
Raise cadence (24m)8 cash raises
Options & rights overhang42.1% of shares
In-the-money supplyno data — an exercise price is on record for a minority of the supply
Pending proposed issuesnone

IMUGENE LIMITED underwent an approximately 1-for-34 share consolidation in June 2025. Following this adjustment, its ordinary share count grew 150.9% between September 2024 and September 2026, reaching 549M shares. In the past 24 months, the company raised capital eight times, generating total disclosed proceeds of A$112.5M, with the most recent being an A$11.1M placement in July 2026. Options and rights on issue could convert into 231M new shares, representing 42.1% of the current share count, with no options currently in the money; the nearest expiry date is September 2026. As of the June 2026 quarter, IMUGENE LIMITED reported A$2.4M in available cash, providing cover for approximately 0.2 quarters. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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42.1%
Options & rights overhang
—
In-the-money supply · most strikes not on record
4
Raises · last 12 months
0.2 qtrs
Cash cover · under 2 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-34 consolidation (30 June 2025). Latest count 548.9M per ASX (delayed) (snapshot 11 Sept 2026).
200M300M400M500MDec 24Oct 25Sept 261-for-34 consolidationCash raise · 2 July 2026Cash raise · 11 Mar 2026Cash raise · 9 Mar 2026Cash raise · 19 Dec 2025Cash raise · 12 Aug 2025Cash raise · 11 July 2025Cash raise · 28 Jan 2025Cash raise · 20 Dec 2024548.9M

Cash runway

0.2 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
The latest quarterly report funded operations to about July 2026 — that date has passed, and no later report is on record.
$2.3M 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: $2.5M cash at quarter end (item 4.6), 0.3 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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15 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 issueIMU : ORDINARY FULLY PAID548.9MAppendix 2A
1 Sept 20262A · quoted issueIMU : ORDINARY FULLY PAID533.1MAppendix 2A
26 Aug 20262A · quoted issueIMU : ORDINARY FULLY PAID517.3MAppendix 2A
26 Aug 20263H · cancellationIMU : ORDINARY FULLY PAID489.7MAppendix 3H
26 Aug 20263G · unquotedIMU : ORDINARY FULLY PAID489.7MAppendix 3G
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77 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

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

every 2.6 monthsaverage gap between raises
2.4 monthssince the most recent
20 Dec 2024 – 2 July 2026first to most recent in this window
$11.1M
Placement
2 July 2026 COMPLETE
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13 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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10 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.

About 35% of the 15% placement capacity left — about 65% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). The company has also placed under the additional 10% (Listing Rule 7.1A), which is not counted in this figure. One filing in the window states more under 7.1 than the whole allowance and is not counted, so usage may be higher than this. Holder-approved issues and any later ratification are not deducted, so the true headroom can be higher.
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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

42.1%
Options & rights overhang · of current shares
—
In-the-money supply · most strikes not on record
231.0M
Potential new shares
Sept 2026
Nearest expiry
What this supply is, and what converts it
  • Price-triggered219.9M · 40.1% of shares
    Options and warrants — they convert when the share price clears their exercise price.
    At least 137.4M of it states no exercise price — that much cannot be called in or out of the money.
  • Condition-triggered11.1M · 2.0% of shares
    Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.
  • Converts on terms20k · 0.0% 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: 82.5M priced, 148.5M 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
115.5M231.0M$0.058 now0.25× today ($0.015) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.029) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.044) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.058) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.073) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.087) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.116) — 0 of the priced supply in the money, 0.0% of shares on issue3× today ($0.174) — 0 of the priced supply in the money, 0.0% of shares on issue5× today ($0.290) — 66.6M of the priced supply in the money, 12.1% of shares on issue10× today ($0.580) — 82.1M of the priced supply in the money, 14.9% 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 35.7% 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 $0.058 today. No more priced supply until 5× today’s price, which takes it to 66.6M (12.1% 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.
  • 148.5M (64.3% 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.
  • 440k 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
IMUAAHOptionsPrice-triggered$6.2629 Sept 202650kFiling
IMUAAIOptionsPrice-triggered$13.6014 Dec 202688kFiling
IMUAAMOptionsPrice-triggered$5.249 Jan 202718kFiling
IMUOFOptionsPrice-triggered—30 Apr 2027104.3MFiling
IMUAJOptionsPrice-triggered$0.8630 June 202849kFiling
IMUAAPOptionsPrice-triggered$2.2813 Sept 2028235kFiling
IMUADNotesConverts on terms—24 Jan 20302kFiling
IMUAASWarrantsPrice-triggered$0.3324 Jan 203015.5MFiling
IMUABWarrantsPrice-triggered$0.2830 Apr 203166.6MFiling
IMUACWarrantsPrice-triggered—21 Aug 203125.3MFiling
IMUAATNotesConverts on terms——6Filing
IMUAARNotesConverts on terms——18kFiling
IMUAAOPerformance rightsCondition-triggered——2.7MFiling Meeting
IMUAAWarrantsPrice-triggered——7.8MFiling
IMUAAN—Condition-triggered——8.4MFiling Meeting

“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.
  • IMUAAKPrice-triggered235k securities → 07 July 2026 Appendix 2A
  • IMUAAQPrice-triggered353k securities → 010 Apr 2026 Appendix 2A
  • IMUAALPrice-triggered15k securities → 012 Jan 2026 Appendix 2A
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15 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 2026Jakob DupontSell—3k50k—3Y notice
31 Aug 2026Kim DrapkinSell—4k81k—3Y notice
31 Aug 2026Lesley RussellSell—7k81k—3Y notice
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27 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 2026Application for quotation of securities - IMU
1 Sept 2026Cleansing Notice
1 Sept 2026Application for quotation of securities - IMU
1 Sept 2026Change of Director's Interest Notice x4
28 Aug 2026Corporate Governance Statement and Appendix 4G
28 Aug 2026$PAppendix 4E and Annual Report
27 Aug 2026Notice under section 708A(12C)(e) of the Corporations Act
27 Aug 2026Notice of Initial Substantial Holding from SOL
26 Aug 2026Becoming a substantial holder from PCG
26 Aug 2026Notification regarding unquoted securities - IMU
26 Aug 2026Notification of cessation of securities - IMU
26 Aug 2026Application for quotation of securities - IMU
20 Aug 2026Amendment of Convertible Notes
19 Aug 2026Results of Extraordinary General Meeting
9 Aug 2026Letter To Shareholders
5 Aug 2026Expiry Of Listed Options
31 July 2026Final Director's Interest Notice - LC
31 July 2026Notification of cessation of securities - IMU
30 July 2026$PQuarterly Activities/Appendix 4C Cash Flow Report
26 July 2026$PThird response in concurrent BTKi Cohort of azer-cel Trial

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