Companies / MEM

MEMPHASYS LIMITED.

ASX:MEMPharmaceuticals, Biotechnology & Life Sciences
3.09B shares on issueASX (delayed) · snapshot 11 Sept 20263.87B fully diluted+25.3% if every option and right converts$0.006price · delayed$18.5Mmarket cap · indicative

Today’s holders own 79.8% of what they think they own, once every option and right converts.

Very high
Dilution risk

Runway under 2 quarters; share count grew 114% in 24 months; 8 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway0.1 quarters of funding
Share-count growth (24m)113.6%
Raise cadence (24m)8 cash raises
Options & rights overhang25.3% of shares
In-the-money supply1.0% of shares
Pending proposed issuesopen proposed issue (Appendix 3B)

MEMPHASYS LIMITED. ordinary share count grew 113.6% between August 2024 and June 2026, reaching 3.09B shares. The company raised capital eight times in the past 24 months for total disclosed proceeds of A$10.3M, most recently a A$1.2M placement in June 2026. Options and rights on issue could convert into 782M new shares, equal to 25.3% of the current share count, of which 1% are in the money at the current share price; the nearest expiry falls in November 2026. At the June 2026 quarter the company reported A$107K in available cash, about 0.1 quarters of funding at its recent spending rate. No proposed securities issues are pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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25.3%
Options & rights overhang
1.0%
In-the-money supply
3
Raises · last 12 months
0.1 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. Latest count 3.09B per ASX (delayed) (snapshot 11 Sept 2026).
2.0B2.5B3.0BDec 24Oct 25Sept 26Cash raise · 12 June 2026Cash raise · 3 Feb 2026Cash raise · 22 Sept 2025Cash raise · 9 Apr 2025Cash raise · 9 Apr 2025Cash raise · 20 Dec 20243.09B

Cash runway

0.1 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
The latest quarterly report funded operations to about June 2026 — that date has passed, and no later report is on record.
$92k 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: $1.2M cash at quarter end (item 4.6), 2.8 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
1 Sept 20263H · cancellationMEM : ORDINARY FULLY PAID3.09BAppendix 3H
26 June 20262A · quoted issueMEM : ORDINARY FULLY PAID3.09BAppendix 2A
20 Feb 20263H · cancellationMEM : ORDINARY FULLY PAID2.85BAppendix 3H
16 Feb 20262A · quoted issueMEM : ORDINARY FULLY PAID2.85BAppendix 2A
23 Jan 20263H · cancellationMEM : ORDINARY FULLY PAID2.69BAppendix 3H
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42 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 · 3 in the last 12 months

every 3.3 monthsaverage gap between raises
3 monthssince the most recent
21 Oct 2024 – 12 June 2026first to most recent in this window
$1.2M
Placement
12 June 2026 COMPLETE
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11 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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12 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 filings already exceed 15% of the share count we can measure, which means securities were added to the base during the year that we cannot see.
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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

25.3%
Options & rights overhang · of current shares
1.0%
In-the-money supply · at current price
782.0M
Potential new shares
Nov 2026
Nearest expiry
What this supply is, and what converts it
  • Price-triggered779.0M · 25.2% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Converts on terms3.0M · 0.1% 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: 779.0M priced (of which 30.0M in the money), 3.0M 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
391.0M782.0M$0.006 now0.25× today ($0.002) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.003) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.005) — 13.0M of the priced supply in the money, 0.4% of shares on issue1× today ($0.006) — 30.0M of the priced supply in the money, 1.0% of shares on issue1.25× today ($0.007) — 57.0M of the priced supply in the money, 1.8% of shares on issue1.5× today ($0.009) — 57.0M of the priced supply in the money, 1.8% of shares on issue2× today ($0.012) — 765.6M of the priced supply in the money, 24.8% of shares on issue3× today ($0.018) — 779.0M of the priced supply in the money, 25.2% of shares on issue5× today ($0.030) — 779.0M of the priced supply in the money, 25.2% of shares on issue10× today ($0.060) — 779.0M of the priced supply in the money, 25.2% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.006 today, 30.0M securities are in the money (1.0% of shares on issue). No more priced supply until 1.25× today’s price, which takes it to 57.0M (1.8% 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.
  • 3.0M (0.4% 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
MEMAXOptionsPrice-triggered$0.0115 Nov 2026479.8MFiling
MEMAYOptionsPrice-triggered$0.0118 Nov 20268.3MFiling
MEMAZOptionsPrice-triggered$0.01120 Dec 20267.9MFiling
MEMAGOptionsPrice-triggered$0.00615 Jan 20277.0MFiling
MEMAVOptionsPrice-triggered$0.01515 Feb 202713.4MFiling
MEMACOptionsPrice-triggered$0.01116 Apr 2027212.6MFiling
MEMADOptionsPrice-triggered$0.00419 Dec 20276.5MFiling
MEMAEOptionsPrice-triggered$0.00519 Dec 20278.5MFiling
MEMAFOptionsPrice-triggered$0.00719 Dec 202710.0MFiling
MEMAACOptionsPrice-triggered$0.00431 Dec 20276.5MFiling
MEMAADOptionsPrice-triggered$0.00531 Dec 20278.5MFiling
MEMAAEOptionsPrice-triggered$0.00731 Dec 202710.0MFiling
MEMAONotesConverts on terms——3.0MFiling

“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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13 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
19 Dec 2025Dr Lindley EdwardsOther5.8M———3Y notice
19 Dec 2025Marjan MikelOther placement6.7M27.0M—$20k3Y notice
19 June 2025Marjan MikelOther2.1M———3Y notice
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5 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

7 Sept 2026Memphasys Investor Webinar Presentation - September 2026
4 Sept 2026Investor Webinar Invite
2 Sept 2026$PFelix Registration Achieved in Turkey, Sales Commence
1 Sept 2026Notification of cessation of securities - MEM
31 Aug 2026$PEUR526,500 Nordic Agreement Expands Felix European Footprint
31 Aug 2026Appendix 4G and Corporate Governance Statement
31 Aug 2026$PAppendix 4E and 2026 Annual Report
27 Aug 2026$PFelix Early Thai FDA Approval, Commercial Launch Accelerates
21 Aug 2026Results of General Meeting
19 Aug 2026$PFelix Registration Achieved in Vietnam and Cartridge Order
9 Aug 2026Pivotal Felix Study Receives First Scientific Presentation
4 Aug 2026$PEuropean Commercial Roll-out continues with Poland Agreement
22 July 2026Proposed issue of securities - MEM
22 July 2026Notice of General Meeting/Proxy Form
15 July 2026$PQuarterly Activities/Appendix 4C Cash Flow Report
15 July 2026Becoming a substantial holder
6 July 2026Memphasys Enters into Consulting Agreement with Director
30 June 2026$PExclusive Thailand Commercialisation Agreement Secured
26 June 2026Section 708A Cleansing Statement
26 June 2026Application for quotation of securities - MEM

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