ARGENT BIOPHARMA LIMITED
ASX:RGTPharmaceuticals, Biotechnology & Life SciencesToday’s holders own 57.3% of what they think they own, once every option and right converts.
Runway under 2 quarters; share count grew 117% in 24 months; 3 cash raises in 24 months
ARGENT BIOPHARMA LIMITED's ordinary share count increased 117.2% between October 2024 and October 2026, its latest share-count filing, to 118M shares. The company raised capital three times in the 24-month window, total proceeds A$7.6M, most recently a convertible note facility/placement in November 2025 raising A$600K. Options and rights on issue could convert into 88M new shares, representing a 74.4% overhang relative to current shares, with none in the money and the nearest expiry in January 2027. The company's reported cash from the September 2026 quarter would have been used up at the then spend rate and no later cash report is on record, so no funding-runway figure applies. Two proposed securities issues (Appendix 3B) are pending, with a nearest expected date of November 2026.
Quick answers · 5
Is RGT raising capital?
Argent Biopharma has 2 proposed issues of securities pending under Appendix 3B as at 28 Oct 2026; the most recent raise announced is Convertible note facility / placement of $600k on 17 Nov 2025.
How much placement capacity does RGT have left?
None of the 15% placement capacity counted as used in the last 12 months (estimate). Under ASX Listing Rule 7.1 a company may place up to 15% of its shares in 12 months without shareholder approval.
How much cash does RGT have?
In its quarterly cash report for the quarter ended 30 Sept 2026, Argent Biopharma reported $11k of cash and estimated 10.1 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do RGT's options expire?
Unexercised options and rights equal 74.4% of Argent Biopharma's shares on issue; the nearest expiry is Jan 2027.
How much has RGT's share count grown?
Argent Biopharma has 117.9M shares on issue as at 28 Oct 2026, up 117.2% over 24 months according to its Appendix 2A filings.
Shares on issue — last 2 years
Cash runway
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)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 2 Oct 2026 | 2A · quoted issue | RGT : ORDINARY FULLY PAID | 117.9M | Appendix 2A |
| 1 Sept 2026 | 3H · cancellation | RGT : ORDINARY FULLY PAID | 116.6M | Appendix 3H |
| 3 Aug 2026 | 3H · cancellation | RGT : ORDINARY FULLY PAID | 116.6M | Appendix 3H |
| 17 July 2026 | 3H · cancellation | RGT : ORDINARY FULLY PAID | 116.6M | Appendix 3H |
| 14 July 2026 | 3G · unquoted | RGT : ORDINARY FULLY PAID | 116.6M | Appendix 3G |
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.
Capital raises
3 cash raises in the last 24 months · 1 in the last 12 months
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.
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.
Pending proposed issues
Options & convertible securities
- Price-triggered67.6M · 57.4% of sharesOptions and warrants — they convert when the share price clears their exercise price.
- Condition-triggered20.1M · 17.1% of sharesPerformance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.
Exercise price on record: 67.6M priced, 20.1M 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.
At $0.027 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 5× today’s price, which takes it to 22.0M (18.6% 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.
- 20.1M (22.9% 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.
- 27.1M more carries an exercise price above ten times today’s — off the right of this axis, and in every total on this page.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| RGTAAL | Options | Price-triggered | $1.00 | 10 Jan 2027 | 740k | Filing |
| RGTAAM | Options | Price-triggered | $0.42 | 28 Mar 2027 | 240k | Filing |
| RGTAAN | Warrants | Price-triggered | $1.20 | 3 July 2027 | 313k | Filing |
| RGTAO | Warrants | Price-triggered | $1.20 | 17 July 2027 | 1.3M | Filing |
| RGTAAO | Warrants | Price-triggered | $0.55 | 16 Jan 2028 | 2.5M | Filing |
| RGTAAP | Warrants | Price-triggered | $0.40 | 23 Apr 2028 | 5.5M | Filing |
| RGTAAJ | Options | Price-triggered | $0.32 | 7 Nov 2028 | 15.5M | Filing |
| RGTAAK | Options | Price-triggered | $0.86 | 1 Dec 2028 | 288k | Filing |
| RGTAA | Options | Price-triggered | $0.10 | 3 Dec 2028 | 22.0M | Filing |
| RGTAAC | Options | Price-triggered | $0.20 | 20 Mar 2029 | 2.1M | Filing |
| RGTAAB | Options | Price-triggered | $0.70 | 1 Apr 2029 | 724k | Filing |
| RGTAAQ | Options | Price-triggered | $0.20 | 23 Apr 2032 | 16.5M | Filing |
| RGTAG | Performance rights | Condition-triggered | — | — | 20.1M | Filing |
“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.
- RGTAAAconvertible notes3.4M2 Oct 2026 Appendix 2A
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 10 Apr 2026 | Daniel Robinson | Other incentive | 500k | 120k | — | — | 3Y notice |
| 10 Apr 2026 | Gary Hermon | Other incentive | 500k | — | — | — | 3Y notice |
| 10 Apr 2026 | Roby Reuven Zomer | Other incentive | 6.0M | — | 17.0M | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.