VECTUS BIOSYSTEMS LIMITED

ASX:VBSPharmaceuticals, Biotechnology & Life Sciences

62.2M shares on issueASX (delayed) · snapshot 11 Sept 202662.8M fully diluted+1.1% if every option and right converts$0.15price · delayed$9.3Mmarket cap · indicative

Today’s holders own 98.9% of what they think they own, once every option and right converts.

Moderate

Dilution risk

Runway 2–4 quarters; share count grew 17% in 24 months; 1 cash raise in 24 months

Absolute levels — not a ranking against other companies.

Cash runway2.6 quarters of funding

Share-count growth (24m)16.9%

Raise cadence (24m)1 cash raise

Options & rights overhang1.1% of shares

In-the-money supply0.0% of shares

Pending proposed issuesnone

VECTUS BIOSYSTEMS LIMITED's ordinary share count grew 16.9% between May 2024 and September 2026, reaching 62M shares. In the past 24 months, the company completed one capital raise, a A$791K placement in May 2026. Options and rights on issue could convert to 663,116 new shares, representing 1.1% of the current share count, with the nearest expiry in May 2028. As of June 2026, the company reported A$549K in available cash, which covers approximately 2.6 quarters of its recent expenditure. There are no pending proposed securities issues.

AI-generated summary of this page's cited filings · updated 11 Sept 2026

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1.1%

Options & rights overhang

0.0%

In-the-money supply

Raises · last 12 months

2.6 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. Latest count 62.2M per ASX (delayed) (snapshot 11 Sept 2026).

Cash runway

2.6 qtrs

Two to four quarters of funding at the recent spend rate.

Funds operations to about Feb 2027 at the reported spend rate.

$547k 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: $718k cash at quarter end (item 4.6), 4.3 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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14 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)

Date	Form	Security	On issue, per this filing	Source
2 Sept 2026	2A · quoted issue	VBS : ORDINARY FULLY PAID	62.2M	Appendix 2A
29 July 2026	2A · quoted issue	VBS : ORDINARY FULLY PAID	61.9M	Appendix 2A
26 June 2026	2A · quoted issue	VBS : ORDINARY FULLY PAID	61.7M	Appendix 2A
27 May 2026	2A · quoted issue	VBS : ORDINARY FULLY PAID	61.5M	Appendix 2A
12 May 2026	2A · quoted issue	VBS : ORDINARY FULLY PAID	53.6M	Appendix 2A

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18 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

$791k

Placement

22 May 2026 COMPLETE

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7 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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2 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 2% of the 15% placement capacity left — about 98% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). 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

1.1%

Options & rights overhang · of current shares

0.0%

In-the-money supply · at current price

663k

Potential new shares

May 2028

Nearest expiry

What a price move would switch on

No option supply on record carries an exercise price to pay, so no share price switches any of it on. All 663k of it states a NIL exercise price: nothing is paid to convert it, so it converts at any price rather than on a hurdle.

Code	Security	Type	Exercise price	Expiry	On issue	Source
VBSAL	Options	Price-triggered	Nil	7 May 2028	42k	Filing
VBSAO	Options	Price-triggered	Nil	7 May 2030	621k	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.

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.