Tiziana Life Sciences (ADR) (TLSA)
Develops intranasal anti-CD3 immunotherapy for neuroinflammatory and neurodegenerative diseases.
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Develops intranasal foralumab, an anti-CD3 candidate for neurological diseases, through a single research-and-development segment rather than a marketed product portfolio.
Intranasal foralumab is the lead candidate: a fully human anti-CD3 antibody being developed for non-active secondary progressive multiple sclerosis, Alzheimer’s disease and other central-nervous-system indications. The company frames intranasal delivery as the differentiating development approach; no approved-product portfolio is identified.
One biotechnology and pharmaceutical research-and-development segment supports a compact clinical-development organization rather than a broad commercial drug franchise. The current portfolio is centered on foralumab, whose development depends on clinical execution.
Bermuda incorporation and a Nasdaq Capital Market listing define the corporate structure; the company also lists a London contact address. Continued clinical progress depends on funding for trials, working capital and general corporate purposes.
Company facts
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Dec 31, 2025Cash & short-term investments $4.0M · Total debt $456.0K · Total assets $11.5M · Shareholders' equity $52.0K
- Revenue
- $0
- Operating income
- −$12.3M
- Net income
- −$12.8M
No dividends on record.
| Institutions34 holders · as of Mar 31, 2026 | 4.92% | 3.13M ADS | |
| Otherremainder | 95.08% | 60.50M ADS |
63.63M ADS as of Aug 21, 2026 · institutions as of Mar 31, 2026 · holders as of their latest filing
The share count is from the company's Dec 2024 annual report; nothing newer is on file here.
The share count has not been confirmed by a second filing; stakes use it as it stands.
Some positions are filed in underlying shares, not receipts; the ratio is unknown, so no percentage.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
Dauntless Investment Group, LLCInstitution | 3.40% | 2.17M ADS | 13Fas of Mar 31, 2026 |
Marshall Wace, LLPInstitution | 0.25% | 157,566 ADS | 13Fas of Mar 31, 2026 |
Zhang Financial LLCInstitution | 0.18% | 111,900 ADS | 13Fas of Mar 31, 2026 |
UBS Group AGInstitution | 0.15% | 95,700 ADS | 13Fas of Mar 31, 2026 |
Colony Group, LLCInstitution | 0.12% | 79,365 ADS | 13Fas of Mar 31, 2026 |
| See all 25 → | |||
13F — a manager's quarterly holdings
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 12, 2026 | Gabriele M. Cerrone | director, 10 percent owner: | +15,000 | $1.11 |
| Jul 21, 2026 | Gabriele M. Cerrone | director, 10 percent owner: | +42,357 | $0.9900 |
| Aug 4, 2026 | Ivor Elrifi | officer: Chief Executive Officer | +83,807 | $0.9700 |
| Aug 5, 2026 | Ivor Elrifi | officer: Chief Executive Officer | +237,616 | $1.00 |
| Aug 3, 2026 | Ivor Elrifi | officer: Chief Executive Officer | +667,000 | $1.00 |
- Sanofi (ADR)
Direct nrSPMS overlap through Cenrifki (tolebrutinib)
- Immunic
Direct na-SPMS development overlap via vidofludimus calcium
- Novartis (ADR)
SPMS therapy overlap through Mayzent (siponimod)
ComparePre-market
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Tiziana Life Sciences (ADR) | $0.9885 | +5.36% | $59.3M | — | — | — | — |
| Sanofi (ADR) | $44.54 | +0.17% | $106.78B | 78.2 | — | 1.9 | +11.2% |
| Immunic | $14.23 | −2.40% | $194.0M | — | — | — | — |
| Novartis (ADR) | $161.87 | −0.35% | $308.79B | 24.5 | 17.3 | 5.6 | +0.9% |
| Median | 51.3 | 17.3 | 3.8 | +6.1% |