T
Tiziana Life Sciences Ltd
TLSACIK 0001723069NasdaqNon-AcceleratedPharmaceutical PreparationsD0BMFY ends Dec 31
Period
FY 2024
Revenue
—
Net Income
$-11.86M
Total Assets
$11.28M
Equity
—
Shares Out
120.51M
Op. Cash Flow
—
Business
Tiziana Life Sciences Ltd is a clinical-stage biotechnology company that develops immunotherapies targeting neurodegenerative and neuroinflammatory diseases. Its main product candidates include Foralumab (intranasal and oral formulations), TZLS-501 (a fully human anti-IL-6R monoclonal antibody) and prior oncology asset Milciclib, alongside platform drug-delivery technologies for nasal and oral antibody administration. The company operates through clinical development programs, expanded access initiatives, in-licensed patent families and collaborative research arrangements with academic centers and CROs. It conducts clinical trials and partnerships across the United States, Europe and Latin America and leverages licensing, investigator sites and collaborator networks for distribution and development.
Summary from filing dated 2025-05-06
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | Dec 31, 2025 2025-12-31 | Dec 31, 2024 2024-12-31 | Dec 31, 2023 2023-12-31 |
|---|---|---|---|---|
| Profit or loss [abstract] | — | — | — | |
| Operating Expenses | — | — | — | |
| Research and Development | 10 | 5 | 8 | |
| Operating expenses | 11 | 11 | 10 | |
| Total operating expenses | 21 | 16 | 18 | |
| Loss from operations | −21 | −16 | −18 | |
| Finance and Other income/(expense): | — | — | — | |
| Finance income | 1,000 | 814,000 | 1 | |
| FV Gain/(Loss) on Investment | 2 | −2 | −402,000 | |
| Gain/on sale of Investment | 367,000 | — | — | |
| Total other income/(expense) | 3 | −952,000 | 742,000 | |
| Loss from operations before income taxes | −18 | −17 | −17 | |
| Income tax credit/(expense) | — | −5 | 449,000 | |
| Loss for the year | −18 | −12 | −18 | |
| Other Comprehensive loss: | — | — | — | |
| Gain/(Loss) on currency translation | −88,000 | −72,000 | 1 | |
| Comprehensive loss | −19 | −12 | −16 | |
| Basic loss per share attributable to common shareholders (in Dollars per share) | −0.16 | −0.11 | −0.17 | |
| Diluted loss per share attributable to common shareholders (in Dollars per share) | −0.16 | −0.11 | −0.17 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | Dec 31, 2025 2025-12-31 | Dec 31, 2024 2024-12-31 |
|---|---|---|---|
| Current assets: | — | — | |
| Cash and cash equivalents | 4 | 4 | |
| Prepayments and other receivables | 459,000 | 145,000 | |
| Taxation receivable | 99,000 | 32,000 | |
| Related party receivables | 4 | 4 | |
| Total current assets | 9 | 8 | |
| Non – Current Assets: | — | — | |
| Property and equipment, net | 26,000 | 16,000 | |
| Right of use asset | 473,000 | 171,000 | |
| Investment in related party | 2 | 4 | |
| Total non-current assets | 3 | 4 | |
| Total assets | 11 | 11 | |
| Current liabilities: | — | — | |
| Accounts payable and accrued expenses | 10 | 7 | |
| Deferred Income | 530,000 | — | |
| Lease Liability | 222,000 | 106,000 | |
| Other liabilities | −3,000 | 12,000 | |
| Total current liabilities | 11 | 7 | |
| Lease Liability (Non-Current) | 234,000 | — | |
| Total liabilities | 11 | 7 | |
| Shareholders’ Equity: | — | — | |
| Called up share capital (120,507,401 shares are issued and outstanding; 2024:111,462,617) | 121,000 | 111,000 | |
| Share premium | 35 | 23 | |
| Share based payment reserve – Options | 9 | 8 | |
| Share based payment reserve – warrants | 69,000 | 25,000 | |
| Merger relief reserve | 119 | 119 | |
| RSU reserve | 3 | 910,000 | |
| Translation reserve | −2 | −2 | |
| Retained earnings | −163 | −145 | |
| Total shareholders’ equity | 52,000 | 4 | |
| Total liabilities and shareholders’ equity | 11 | 11 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | Dec 31, 2025 2025-12-31 | Dec 31, 2024 2024-12-31 | Dec 31, 2023 2023-12-31 |
|---|---|---|---|---|
| Statement of cash flows [abstract] | — | — | — | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | — | — | — | |
| Loss from operations before income taxes | −18 | −17 | −17 | |
| Shares issued in lieu of directors fees, bonus and expenses | 1 | 2 | 525,000 | |
| Shares issued in lieu of consultancy fees | — | 2 | — | |
| Share based payment – restricted stock | 2 | 910,000 | — | |
| Share based payment – options | 1 | 2 | 2 | |
| Options forfeited during the year | 109,000 | 227,000 | 39,000 | |
| Fair value (Gain)/loss on investment, net | −2 | 2 | 402,000 | |
| Write back of bad debt | −166,000 | — | — | |
| (Gain)/loss on disposal of assets | — | −1,000 | — | |
| Depreciation | 12,000 | 12,000 | 7,000 | |
| (Gain)/ loss on foreign exchange | 152,000 | −158,000 | −2 | |
| Depreciation of right-of-use asset | 222,000 | 112,000 | 89,000 | |
| Cash (outflow)/inflow from taxation | −75,000 | 9 | — | |
| Interest on related party loan conversion | — | 795,000 | 1 | |
| Net (increase) in related party receivables | 378,000 | 1 | 2 | |
| Net (decrease)/increase in related party payables | — | — | — | |
| Net (increase)/decrease in operating assets/other receivables | −314,000 | 78,000 | 80,000 | |
| Net increase/(decrease) in operating liabilities /other liabilities | 3 | 839,000 | −138,000 | |
| Net increase/(decrease) in deferred revenue | 530,000 | — | — | |
| Net cash used in operating activities | −13 | −2 | −16 | |
| CASH FLOWS FROM INVESTING ACTIVITIES | — | — | — | |
| Purchase of Fixed Assets | 21,000 | 19,000 | — | |
| Investment in Related Party | — | — | 1 | |
| Sale of Okyo Shares | 3 | — | — | |
| Purchase of Treasury Shares | — | 52,000 | 253,000 | |
| Net cash used in Investing activities | 3 | −71,000 | −1 | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | — | — | — | |
| Proceeds from issuance of ordinary shares – ATM, net | 10 | 124,000 | 24,000 | |
| Proceeds from issuance of ordinary shares – Fundraise, net | — | 4 | — | |
| Proceeds from the issuance of warrants | 48,000 | — | 135,000 | |
| Repayment of leasing liabilities | −196,000 | −141,000 | −119,000 | |
| Proceeds of Exercise of options | 95,000 | 75,000 | — | |
| Net cash (used in)/provided by financing activities | 10 | 5 | 40,000 | |
| Net increase/(decrease) in cash and cash equivalents | 202,000 | 3 | −17 | |
| Cash and cash equivalent, end of year | — | — | — | |
| Exchange difference on cash and cash equivalents | 84,000 | −367,000 | −28,000 | |
| Cash and cash equivalent, end of year | — | — | — |
Filings
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