Tiziana Life Sciences Ltd (TLSA) AI Dilution Summary

Cash was $4,010,000 at 2025-12-31, against estimated monthly burn of $1,070,583. After that date, on 2026-01-19, the company raised $8,600,000 net in a registered direct offering, and it has an active at-the-market program with Jefferies LLC. Dilution here is driven primarily by the Jefferies ATM program, authorised to $100,000,000.