Last updated
Revenue
R&D Expenses
Operating CF
Total Assets
Total Liabilities
Equity
Shares Out.
D/E Ratio
Dilution Watch
Financials
52W LOW $0.6252W HIGH $1.95
Volume
2.85 M
Value Traded
2.04 M
Short % Float
4.34%
Days to Cover
4.3
-23.17%Week
-37.38%1 Month
-30.76%3 Month
-53.15%6 Month
-33.33%5 Year
-29.52%All Time
Cash Data
- Monthly Burn
- Burn Trend
- Dilution Risk
- SEC Filing
Key Stats
Market Cap
85.26 M
EPS (TTM)
-0.16
P/E Ratio
-
Ent. Value
172.35 M
Total Shares
127.26 M
Float Shares
64.36 M
Insiders
49.84%
Institutions
2.02%
Upcoming Catalysts
FDA decisions, readouts and PDUFA dates · scored by probability of approval
TLSA Catalyst Timeline
Dated clinical, regulatory and corporate events for Tiziana Life Sciences Ltd
Catalyst Timeline
Dated clinical, regulatory & corporate events for Tiziana Life Sciences Ltd
541Total events
6Upcoming
78Tier-1 (high impact)
2018 to 2027Coverage
Upcoming catalysts 2
Event history 50
▲Secondary Endpoint DataForalumabClinical Data
Statistically significant within-arm MFIS improvements at 50 ug (p=0.035) and 100 ug (p=0.040); no EDSS change
non-active secondary progressive multiple sclerosissource ↗
▲Primary Endpoint MetForalumabClinical Data
INFORM-MS met dual primary endpoints of reduced microglial activation and safety/tolerability
non-active secondary progressive multiple sclerosissource ↗
▲Topline ReadoutForalumabClinical Data
Positive topline results from Phase 2a INFORM-MS trial of intranasal foralumab in na-SPMS
non-active secondary progressive multiple sclerosissource ↗
▲Trial CompletionForalumabTrial
All 48 INFORM-MS participants completed 12-week treatment
non-active secondary progressive multiple sclerosissource ↗
●R&D DayForalumabPresentation
Tiziana management to attend MSToronto2026 (ACTRIMS-ECTRIMS joint meeting)
non-active secondary progressive multiple sclerosissource ↗
▲Enrollment CompleteForalumabTrial
Enrollment completed and last patient began dosing in Phase 2 intranasal foralumab Alzheimer's trial
early/mild Alzheimer's diseasesource ↗
●R&D DayForalumabPresentation
Community webinar hosted by Healey & AMG Center with Tiziana to discuss foralumab science
amyotrophic lateral sclerosis (ALS)source ↗
●Orphan Drug DesignationForalumabDesignation
Tiziana submits FDA Orphan Drug Designation request for intranasal foralumab in MSA
Multiple System Atrophy (MSA)source ↗
▲First Patient DosedForalumabTrial
First three participants dosed in Phase 2a BANYAN trial of intranasal foralumab in ALS
amyotrophic lateral sclerosis (ALS)source ↗
●Last Patient Last VisitForalumabTrial
Last patient completes last visit in Phase 2a INFORM-MS trial of intranasal foralumab
non-active Secondary Progressive Multiple Sclerosis (na-SPMS)source ↗
▲Partnership / LicenseForalumabCorporate
Tiziana signs MOU with KAIMRC and Foundation for Neurologic Diseases for intranasal foralumab combination trial in RRMS
relapsing-remitting multiple sclerosis (RRMS)source ↗
◆Timing GuidanceForalumabPresentation
Database lock expected this week for Phase 2a INFORM-MS trial
non-active Secondary Progressive Multiple Sclerosis (na-SPMS)source ↗
●Poster PresentationForalumabPresentation
Poster presentation on Phase 2a BANYAN trial at ALS Nexus 2026
ALSsource ↗
▲Biomarker DataForalumabClinical Data
Third MSA patient shows reduction in brain inflammation on PET imaging
Multiple System Atrophysource ↗
◆Topline ReadoutForalumabClinical Data
Topline data expected from Phase 2a trial of intranasal foralumab in na-SPMS
non-active Secondary Progressive Multiple Sclerosis (na-SPMS)source ↗
◆Oral PresentationPresentation
Tiziana Life Sciences to present at Jefferies Global Healthcare Conference
◆Poster PresentationForalumabPresentation
Late-breaking poster accepted for presentation at 7th World Parkinson Congress
Multiple System Atrophysource ↗
▲Enrollment CompleteForalumabTrial
Patient enrollment completed in Phase 2a trial of intranasal foralumab in na-SPMS
non-active Secondary Progressive Multiple Sclerosis (na-SPMS)source ↗
▲Full ResultsForalumabClinical Data
Updated clinical data from Expanded Access Program showing safety, EDSS stabilization, and fatigue improvement
non-active Secondary Progressive Multiple Sclerosissource ↗
▲Topline ReadoutForalumabClinical Data
Initial quantitative PET imaging results from first two MSA patients treated with intranasal foralumab show reduced brain inflammation
Multiple System Atrophysource ↗
▲Enrollment UpdateForalumabTrial
14 patients with na-SPMS dosed in open-label intermediate sized Expanded Access Program
Non-Active Secondary Progressive Multiple Sclerosissource ↗
●Trial InitiationForalumabTrial
Phase 2a trial in na-SPMS currently being studied
Non-Active Secondary Progressive Multiple Sclerosissource ↗
▲Preclinical PoCForalumabPreclinical
Positive preclinical data published in bioRxiv showing intranasal anti-CD3 antibody attenuates Long COVID neuroinflammation and improves cognitive function in mice
Long COVID neuroinflammationsource ↗
▲Preclinical PoCForalumabPreclinical
Nasal anti-CD3 improves cognition in aging model
age-related cognitive declinesource ↗
▲Poster PresentationForalumabPresentation
Late-breaking poster presented at Brigham and Women's Hospital showing biomarker data
non-active secondary progressive multiple sclerosis (na-SPMS) with progression independent of relapse activity (PIRA)source ↗
▲PublicationForalumabPresentation
Peer-reviewed publication of open-label study results in Neurology Neuroimmunology & Neuroinflammation
non-active secondary progressive multiple sclerosissource ↗
▼Equity OfferingCorporate
Pricing of registered direct offering of 6,400,000 ordinary shares at $1.25 per share
◆Oral PresentationForalumabPresentation
Corporate presentation at 9th Annual Neuroscience Innovation Forum
non-active secondary progressive multiple sclerosissource ↗
◆Topline ReadoutForalumabClinical Data
Top-line data expected from Phase 2 randomized double-blind placebo-controlled trial
non-active secondary progressive multiple sclerosissource ↗
◆Topline ReadoutForalumabClinical Data
Top-line data expected from Phase 2a trial in na-SPMS
non-active secondary progressive multiple sclerosis (na-SPMS)source ↗
▲IND Safety ReportForalumabIND
Seventh annual DSUR submitted to FDA for intranasal foralumab
neuroinflammatory diseasessource ↗
▲First Patient DosedForalumabTrial
First patient expected to be dosed next week in Phase 2 Alzheimer's trial
early Alzheimer's diseasesource ↗
▲First Patient DosedForalumabTrial
First patient dosed in Phase 2 Alzheimer's trial
early Alzheimer's diseasesource ↗
▲Enrollment UpdateForalumabTrial
14 patients dosed in Expanded Access Program for na-SPMS
Non-Active Secondary Progressive Multiple Sclerosissource ↗
●Trial InitiationForalumabTrial
Phase 2a trial ongoing in na-SPMS
Non-Active Secondary Progressive Multiple Sclerosissource ↗
▼Equity OfferingCorporate
Withdrawal of proposed public offering of common shares due to market conditions
▲Enrollment CompleteForalumabTrial
Baseline assessments and screening completed for first participants in Phase 2 Alzheimer's trial
early Alzheimer's diseasesource ↗
◆Trial CompletionForalumabTrial
Blinded phase of Phase 2 trial expected to be completed
non-active secondary progressive multiple sclerosissource ↗
◆Trial CompletionForalumabTrial
Blinded portion of Phase 2 trial expected to complete by end of 2025
non-active Secondary Progressive Multiple Sclerosissource ↗
◆Topline ReadoutForalumabClinical Data
Topline data readout expected from Phase 2 trial of nasal foralumab in na-SPMS
non-active secondary progressive multiple sclerosissource ↗
▲Trial InitiationForalumabTrial
Phase 2 trial of intranasal foralumab in ALS accepted into Healey ALS MyMatch Program
amyotrophic lateral sclerosis (ALS)source ↗
◆Oral PresentationForalumabPresentation
Tiziana to present at Jefferies London Healthcare Conference
non-active secondary progressive multiple sclerosis, Alzheimer's disease, multiple system atrophy, amyotrophic lateral sclerosissource ↗
◆Oral PresentationForalumabPresentation
Tiziana to present at BIO-Europe 2025
non-active secondary progressive multiple sclerosis, Multiple System Atrophy, early Alzheimer's disease, amyotrophic lateral sclerosissource ↗
▲First Patient DosedForalumabTrial
14 patients dosed in Expanded Access Program for na-SPMS
non-active secondary progressive multiple sclerosissource ↗
◆Trial InitiationForalumabTrial
Phase 2a trial in na-SPMS ongoing
non-active secondary progressive multiple sclerosissource ↗
●Quarterly UpdateCorporate
Interim financial results for six months ended June 30, 2025 filed
▼Equity OfferingCorporate
Raised additional $2m from sale of investment shares and ATM issuances post period end
Past FDA Catalysts and PDUFA Decisions
How TLSA actually traded into and out of each decision
| Date | Drug | Catalyst | Stage | Reaction | Event Move % | Best Trade % |
|---|---|---|---|---|---|---|
| 2026-10-31 | intranasal foralumab | Phase 2a data readout | Phase 2a |
Reaction: 30 trading days around the event · Event Move: close to close on decision day · Best Trade: peak run-up from entry 10 days before the decision
Drug Pipeline Intelligence
Pipeline Score
Pipeline Value
Valuation Signal
1
Drugs Scored
rNPV / MCap
Top Drug
Top 34%
Micro Cap(rank 230 of 674)
Percentile Rank
| Drug | Indication | Phase | PTRS | rNPV | Status | Enroll | Velocity | Design | Est. Completion | ML Signal | Last Change |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Foralumab Monoclonal antibodyNCT06292923 | Secondary Progressive Multiple Sclerosis | Phase 2 | ACTIVE NOT_RECRUITING | 54 | Oct 1, 2026 | ||||||
| Foralumab Monoclonal antibodyNCT07688239 | ALS (Amyotrophic Lateral Sclerosis) | Phase 2 | ENROLLING BY_INVITATION | 44 | Nov 1, 2027 | ||||||
| Foralumab Monoclonal antibodyNCT06890923 | Non-Active Secondary Progressive Multiple Sclerosis | Phase 2 | RECRUITING | 55 | Aug 30, 2026 | ||||||
| Foralumab Monoclonal antibodyNCT06868628 | Multiple System Atrophy | Phase 2 | RECRUITING | 5 | Apr 1, 2027 | ||||||
| Foralumab Monoclonal antibodyCompletedNCT06879067 | Safety | Phase 1 | COMPLETED | 27 | Nov 9, 2020 |
Clinical Trial Results
Readouts, endpoints and source filings for every TLSA program
| Drug Name | Indication | Phase | Date | Trial Results Summary | Title | Source |
|---|---|---|---|---|---|---|
| foralumab Fast Track | non-active secondary progressive multiple sclerosis | Phase 2a | 2026-11-02 | microglial activation reduction p value: 0.0168; fatigue improvement 50ug: decrease -6.17, p value 0.035; fatigue improvement 100ug: decrease -7.18, p value 0.040; placebo fatigue change: -3.12Read More | Tiziana Announces Positive Topline Results from Phase 2a INFORM-MS Trial of Intranasal Foralumab in Non-Active Secondary Progressive Multiple SclerosisRead More |
Inside Trades
| Insider | Side | Shares | Price | Value | Date |
|---|---|---|---|---|---|
| Elrifi IvorOfficer (Chief Executive Officer) | Option | 1,050,000 5,843,684 held | $0.00 | 08/15/2026 |
Hedge Fund 13F Activity
Hedge Funds invested in TLSA
| Fund | % of Portfolio | Current MV | Shares Owned | Activity |
|---|---|---|---|---|
| No hedge fund reported a 13F position in TLSA for Q2 2026. | ||||
Ownership Trends
TLSA Short Interest
Shares sold short, counted twice a month.
4.34%
Short % of Float
of tradable shares sold short
2.8M
Shares Sold Short
+5.7% vs prior count
4.3 Moderate
Days to Cover
trading days of normal volume to buy every short share back
653.0K
Avg Daily Volume
the average used for days to cover
Options Data
Option Volume
Open Interest
Call OI
Put OI
Put-Call Ratio
OI 30-day avg
Today vs avg
Option Volume
Call Vol
Put Vol
Put-Call Ratio
Vol 30-day avg
Today vs avg
Option Chain Statistics
| Expiry | Call Vol | Put Vol | Vol P/C | Call OI | Put OI | OI P/C | IV Call | IV Call OI-Wtd | IV Call Vol-Wtd | IV Put | IV Put OI-Wtd | IV Put Vol-Wtd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-11-20 | ||||||||||||
Real-Time Option Chain
| Calls | Strike | Puts | ||||
|---|---|---|---|---|---|---|
| Last | Vol | OI | Last | Vol | OI | |
| No data available | ||||||
Calls vs Puts by Expiry
CallsPutsLog scale
Competitive positioning
How TLSA ranks across every disease it competes in
Competitive Position is a premium feature
See how TLSA ranks against every competitor across each disease it develops in: phase, best drug, trials and likelihood of approval.
Start free trialTLSA News
TLSA▼ -16.2%on this news
Tiziana Announces Positive Topline Results from Phase 2a INFORM-MS Trial of Intranasal Foralumab in Non-Active Secondary Progressive Multiple Sclerosis
Tiziana Life Sciences announced positive topline results from its Phase 2a INFORM-MS trial of intranasal foralumab in patients with non-active secondary progressive multiple sclerosis. The trial met its dual primary endpoints, showing significant reductions in microglial activation and improvements in fatigue. Both doses were found to be safe and well-tolerated, addressing a significant unmet need in this patient population.
Read more →TLSATiziana Management Team to Attend the 10th Joint ACTRIMS-ECTRIMS Meeting in Toronto
Tiziana Life Sciences will attend the 10th Joint ACTRIMS-ECTRIMS Meeting in Toronto from October 21-23, 2026. The company aims to discuss its clinical programs, including the INFORM-MS trial for intranasal foralumab in non-active secondary progressive multiple sclerosis. The meeting will facilitate collaboration with industry leaders in MS research.
Read more →TLSATiziana Doses Last Patient in Phase 2 Trial of Intranasal Foralumab for Mild Alzheimer’s Disease
Tiziana Life Sciences has announced the completion of patient dosing in its Phase 2 trial for intranasal foralumab, targeting early/mild Alzheimer's disease. This trial evaluates the safety and efficacy of the treatment, both alone and in combination with existing therapies. Topline results are expected in the first quarter of 2027, marking a crucial step in Alzheimer's research.
Read more →TLSA▲ +16.4%on this news
Tiziana Life Sciences Files for Orphan Drug Designation with the FDA for Intranasal Foralumab for the Treatment of Multiple System Atrophy (MSA)
Tiziana Life Sciences has filed for Orphan Drug Designation with the FDA for intranasal foralumab, aimed at treating Multiple System Atrophy (MSA), a rare neurodegenerative disorder. The company is currently conducting a Phase 2a clinical trial to evaluate the drug's effects on microglial activation and clinical outcomes. If granted, the designation could offer several regulatory benefits, including market exclusivity and tax credits.
Read more →TLSATiziana Life Sciences Announces First Participants Dosed in ALS BANYAN Clinical Trial of Intranasal Foralumab
Tiziana Life Sciences has announced the dosing of the first three participants in the Phase 2a BANYAN clinical trial for intranasal foralumab, aimed at treating ALS. The trial, which is co-funded by the ALS Association, will evaluate the safety and tolerability of foralumab over a 12-week period. This milestone is seen as a significant step forward in ALS treatment research.
Read more →TLSATiziana Announces Last Patient Completes Last Visit in Phase 2a INFORM-MS Trial of Intranasal Foralumab
Tiziana Life Sciences has announced the completion of the last patient visit in its Phase 2a INFORM-MS trial for intranasal foralumab, aimed at treating non-active Secondary Progressive Multiple Sclerosis. The trial involved 48 patients and evaluated the drug's safety and efficacy over a 12-week period. Topline data is expected to be released in October, with promising results from an Expanded Access Program indicating stabilization or improvement in patient outcomes.
Read more →TLSA▲ +26%on this newsshared move
Tiziana Life Sciences Announces Signing of MOU with King Abdullah International Medical Research Center
Tiziana Life Sciences has signed a Memorandum of Understanding with the King Abdullah International Medical Research Center to collaborate on a clinical trial for relapsing-remitting multiple sclerosis. The trial will evaluate the combination of Tiziana's intranasal foralumab and existing anti-CD20 therapy. This partnership aims to address unmet medical needs in neuroimmunology.
Read more →TLSATiziana Life Sciences Announces Poster Presentation on Phase 2a BANYAN Clinical Trial of Intranasal Foralumab at ALS Nexus 2026
Tiziana Life Sciences announced a poster presentation on the Phase 2a BANYAN clinical trial of intranasal foralumab at ALS Nexus 2026. The trial aims to evaluate the safety and efficacy of foralumab in ALS patients. The presentation will cover preclinical data, study design, and the role of regulatory T cells in ALS progression. The trial is currently in the operational startup phase.
Read more →TLSATiziana Life Sciences Announces Purchase of Shares by Chief Executive Officer
Tiziana Life Sciences announced that CEO Ivor Elrifi purchased 667,000 shares at $1.00 each, increasing his total holdings to over 4.4 million shares. The company is developing intranasal foralumab, a monoclonal antibody that stimulates T regulatory cells, currently in clinical trials for non-active secondary progressive multiple sclerosis. The therapy shows potential for improved efficacy and safety compared to traditional intravenous methods.
Read more →TLSA▲ +6.2%on this news
Tiziana Reports Reduction in Brain Inflammation in Third Multiple System Atrophy Patient Treated with Intranasal Foralumab
Tiziana Life Sciences announced positive results from its Phase 2 clinical trial of intranasal foralumab in patients with Multiple System Atrophy (MSA). The third patient treated showed reductions in brain inflammation, similar to previous patients. The findings support the drug's potential to modulate neuroinflammation, with plans for further evaluation in additional patients.
Read more →TLSA▼ -5.5%on this news
Tiziana Life Sciences Announces Purchase of Shares by Executive Chairman
Tiziana Life Sciences announced that Executive Chairman Gabriele Cerrone has purchased 42,357 shares, increasing his total holdings to 44,814,587 shares, representing 34.93% of the company's capital. The company is advancing its lead candidate, intranasal foralumab, which is currently in clinical trials for non-active secondary progressive multiple sclerosis and has shown positive outcomes.
Read more →TLSATiziana Announces Last Patient Successfully Dosed in its Phase 2 INFORM-MS Trial
Tiziana Life Sciences has announced that the last patient has been dosed in its Phase 2a INFORM-MS trial, which evaluates intranasal foralumab for non-active Secondary Progressive Multiple Sclerosis. The trial aims to assess safety and efficacy, with topline data expected in late Q3 or early Q4 of 2026. The results will be presented at an upcoming conference in Toronto.
Read more →TLSATiziana Life Sciences to Present at the Jefferies Global Healthcare Conference in New York
Tiziana Life Sciences will present at the Jefferies Global Healthcare Conference in New York on June 4, 2026. CEO Ivor Elrifi and CFO Keeren Shah will discuss recent clinical updates, including the progress of their lead candidate, intranasal foralumab, which is currently being studied in patients with non-active secondary progressive multiple sclerosis. The presentation will include a Q&A session with investors.
Read more →TLSA▼ -9.3%on this news
Tiziana Fully Enrolls its Phase 2 Placebo Controlled Multiple Sclerosis Trial
Tiziana Life Sciences has announced the completion of patient enrollment for its Phase 2 placebo-controlled clinical trial of intranasal foralumab in patients with non-active Secondary Progressive Multiple Sclerosis (na-SPMS). The INFORM-MS trial is significant as it marks the first placebo-controlled study of this monoclonal antibody, which targets neuroinflammation. The trial aims to measure the efficacy and safety of the treatment, with topline data expected in late Q3 2026. This milestone reflects both Tiziana’s efforts to address the limited treatment options available for na-SPMS and the company's commitment to advancing innovative therapies in neurodegenerative diseases.
Read more →TLSATiziana Announces New Positive Clinical Data for Intranasal Foralumab in Non-Active Secondary Progressive Multiple Sclerosis
Tiziana Life Sciences has announced positive clinical data for intranasal foralumab in patients with non-active Secondary Progressive Multiple Sclerosis. The updated data indicate that the treatment is well tolerated and shows promising trends in stabilizing disability and improving fatigue. The findings support the potential of foralumab as a novel therapy for this patient population.
Read more →TLSATiziana Reports Reduced Brain Inflammation in Multiple System Atrophy Patients Treated with Intranasal Foralumab
Tiziana Life Sciences has reported promising initial results from its Phase 2 clinical trial of intranasal foralumab in patients with Multiple System Atrophy (MSA). Two patients showed significant reductions in brain inflammation, with up to a 35% decrease in inflammatory activity in critical brain regions. This marks the third indication of effectiveness for intranasal foralumab, which has previously demonstrated beneficial effects in other neurological conditions. The company plans to continue evaluating the therapy to better understand its impact on neuroinflammation associated with MSA.
Read more →TLSATiziana Life Sciences Announces Publication of Positive Data Demonstrating Intranasal Anti-CD3 Antibody Attenuates Long COVID Neuroinflammation and Improves Cognitive Function
Tiziana Life Sciences announced positive preclinical data for its intranasal anti-CD3 antibody, foralumab, showing its ability to reduce neuroinflammation and enhance cognitive function in a Long COVID mouse model. The study, conducted by leading researchers, indicates that foralumab can effectively boost regulatory T cells in the brain and improve memory. These findings support its potential as a treatment for cognitive impairments associated with Long COVID.
Read more →TLSA▲ +12.2%on this newsshared move
Tiziana Life Sciences Announces Late Breaking Poster Accepted for Presentation at the 7th World Parkinson Congress
Tiziana Life Sciences has announced that a late-breaking poster on its Phase 2a study of intranasal foralumab in Multiple System Atrophy (MSA) has been accepted for presentation at the upcoming 7th World Parkinson Congress in May 2026. This poster will detail the trial's design and rationale, emphasizing foralumab's potential in targeting microglial activation associated with MSA. The trial aims to enroll up to 10 subjects, with primary endpoints assessing microglial activation and secondary endpoints evaluating brain atrophy, autonomic function, and quality of life. The CEO expressed excitement over the acceptance and the potential benefits for MSA patients.
Read more →TLSA▲ +6.8%on this news
Tiziana Announces Data Showing Nasal Anti-CD3 Improves Cognition Associated with Aging
Tiziana Life Sciences announced promising preclinical data for its nasal anti-CD3 monoclonal antibody, foralumab, indicating its potential to improve cognitive function associated with aging. The study revealed that nasal anti-CD3 reduces neuroinflammation and enhances neurogenesis in the hippocampus. Tiziana is advancing clinical trials for foralumab in various neurodegenerative conditions.
Read more →About Tiziana Life Sciences Ltd
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