Companies / NX1

NEXALIS THERAPEUTICS LTD

ASX:NX1Pharmaceuticals, Biotechnology & Life Sciences
253.0M shares on issueASX (delayed) · snapshot 11 Sept 2026329.5M fully diluted+30.2% if every option and right converts$0.013price · delayed$3.3Mmarket cap · indicative

Today’s holders own 76.8% of what they think they own, once every option and right converts.

Moderate
Dilution riskprovisional — limited history

Runway 2–4 quarters; options/rights overhang 30% of shares; 1 cash raise in 24 months; since relisting as NX1; prior history under IRX not included

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway2.3 quarters of funding
Share-count growth (24m)0.3%since relisting as NX1; prior history under IRX not included
Raise cadence (24m)1 cash raisesince relisting as NX1; prior history under IRX not included
Options & rights overhang30.2% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

NEXALIS THERAPEUTICS LTD changed its name from IRX to NX1 in February 2026, and all figures below cover only the period since that rename. The company's ordinary share count grew 0.3% between February 2026 and February 2026, to 253M shares. One capital raise occurred since February 2026, a placement of A$150K in February 2026. Options and rights on issue could convert into 76M new shares, equal to 30.2% of the current share count. The nearest expiry for these options is December 2026, with none currently in the money. At the June 2026 quarter the company reported A$586K in available cash, covering approximately 2.3 quarters of funding. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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30.2%
Options & rights overhang
0.0%
In-the-money supply
1
Raises · last 12 months
2.3 qtrs
Cash cover · 2–4 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 NX1 (16 Feb 2026); prior history under IRX is not included. Latest count 253.0M per ASX (delayed) (snapshot 11 Sept 2026).
252.25M252.50M252.75M253.00MFeb 26May 26Sept 26Cash raise · 17 Feb 2026253.0M

Cash runway

2.3 qtrs
Two to four quarters of funding at the recent spend rate.
Funds operations to about Jan 2027 at the reported spend rate.
$584k 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: $790k cash at quarter end (item 4.6). Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.
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2 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
14 July 20263G · unquotedORDINARY FULLY PAID253.0MAppendix 3G
14 July 20263H · cancellationNX1 : ORDINARY FULLY PAID253.0MAppendix 3H
22 Feb 20262A · quoted issueNX1 : ORDINARY FULLY PAID253.0MAppendix 2A
17 Feb 20263G · unquotedORDINARY FULLY PAID246.3MAppendix 3G
17 Feb 20263G · unquotedORDINARY FULLY PAID246.3MAppendix 3G
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7 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 · 1 in the last 12 months · counted since relisting as NX1 (16 Feb 2026); prior history under IRX is not included

$150k
Placement
17 Feb 2026 ACTIVE
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4 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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6 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 — no share count old enough to measure 15% of.
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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

30.2%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
76.5M
Potential new shares
Dec 2026
Nearest expiry
What this supply is, and what converts it
  • Price-triggered69.1M · 27.3% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered7.4M · 2.9% 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: 69.1M priced, 7.4M 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
38.2M76.5M$0.013 now0.25× today ($0.003) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.006) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.010) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.013) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.016) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.019) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.026) — 38.4M of the priced supply in the money, 15.2% of shares on issue3× today ($0.039) — 38.4M of the priced supply in the money, 15.2% of shares on issue5× today ($0.065) — 61.6M of the priced supply in the money, 24.3% of shares on issue10× today ($0.130) — 63.1M of the priced supply in the money, 24.9% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.013 today, 0 securities are in the money (0.0% of shares on issue). At double today’s price it is 38.4M (15.2% 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.
  • 7.4M (9.6% 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.
  • 6.0M 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
NX1AAOptionsPrice-triggered$0.2014 Dec 20264.0MFiling
NX1AFOptionsPrice-triggered$0.153 June 20272.0MFiling
NX1AKOptionsPrice-triggered$0.04222 Dec 202723.2MFiling
NX1AHOptionsPrice-triggered$0.127 July 20281.0MFiling
NX1AIOptionsPrice-triggered$0.1231 Oct 2028500kFiling
NX1ADOptionsPrice-triggered$0.02531 Dec 202938.4MFiling
NX1AGPerformance rightsCondition-triggered——7.4MFiling

“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.

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7 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
14 July 2026Darryl DaviesSell56.3M2.0M——3Y notice
14 July 2026Sean WilliamsOther2.6M———3Y notice
17 Feb 2026Dr Ronald WiseOther placement3.2M———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

1 Sept 2026$PRemoval of draft wording in the directors report HY accounts
31 Aug 2026$PHalf Yearly Report and Accounts
31 July 2026$PJun26 Appendix 4C Cash Flow Report
31 July 2026$PJun26 Quarterly Activities Report
30 July 2026Change in substantial holding
14 July 2026Change of Director's Interest Notice - Sean Williams
14 July 2026Change of Director's Interest Notice - Darryl Davies
14 July 2026Notification of cessation of securities - NX1
14 July 2026Notification regarding unquoted securities - NX1
14 July 2026Issue of director share rights post shareholder approval
6 July 2026$PUpdate on Funding Facility and Clinical Program
25 June 2026Director Appointment/Resignation
29 May 20262026 AGM results
29 May 20262026 AGM slides
27 May 2026$PReinstatement to Official Quotation
27 May 2026$PBinding Letter of Intent to replace existing $53m facility
26 May 2026$PSuspension from Quotation
21 May 2026$PTrading Halt
14 May 2026Phase 1 IRX-616a Last Patient Last Dose
13 May 2026Director Appointment/Resignation

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