Nexalis Therapeutics has completed a key capital raising milestone, issuing new shares, options, and performance rights following shareholder approval. This move supports the company’s clinical-stage drug development programs targeting pain and mental health.
- Completion of $150,000 tranche 2 placement
- Issuance of 6 million new shares at $0.025 each
- 12 million free attaching unlisted options issued
- 4 million performance rights issued in lieu of director fees
- Backing from $52.3 million funding facility to accelerate drug development
Capital Raise Completion
Nexalis Therapeutics Ltd (ASX, NX1) has successfully completed the allotment of securities following shareholder approval at its General Meeting held on 29 January 2026. The company received the balance of $150,000 from tranche 2 investors under a placement announced in December 2025, marking a significant step in its ongoing funding strategy.
The allotment included 6 million new shares issued at $0.025 each, alongside 3 million placement options for tranche 2 participants. Additionally, tranche 1 participants received 12 million free attaching unlisted options exercisable at $0.042, valid for two years. The company also issued 6 million lead manager options and nearly 11 million options to Linlithgow Family Office Pty Ltd under a facility agreement.
Performance Rights and Director Fees
In a move that aligns executive incentives with company performance, Nexalis issued over 4 million performance rights in lieu of director fees for the six-month period ending 31 December 2025. These rights were issued at a deemed price of $0.023 each, reflecting a strategic approach to conserving cash while rewarding leadership.
Strategic Development Focus
Nexalis is an Australian clinical-stage drug development company focused on rapid onset inhaled therapies addressing unmet needs in pain management and mental health. Its pipeline includes IRX-211 for breakthrough cancer pain, IRX-616a for panic disorder, and SRX-25 targeting treatment-resistant depression. The company aims to leverage a $52.3 million funding facility to accelerate these programs and pursue U.S. FDA approval through streamlined regulatory pathways.
This capital raise and security issuance underpin Nexalis’s commitment to advancing its clinical trials and regulatory submissions. The company’s approach targets significant gaps in current treatment options, particularly where dependency risks are a concern, positioning it well within a growing and critical healthcare segment.
Investor Confidence and Market Position
The board expressed gratitude to investors for their ongoing support, signalling confidence in the company’s strategy and prospects. While the announcement does not detail specific timelines for clinical milestones or the precise allocation of funds, the successful completion of this placement provides Nexalis with the financial runway to progress its development programs.
Bottom Line?
Nexalis’s latest capital raise strengthens its runway, setting the stage for upcoming clinical and regulatory milestones.
Questions in the middle?
- What are the expected timelines for clinical trial readouts for IRX-211, IRX-616a, and SRX-25?
- How will the new options and performance rights impact shareholder dilution in the near term?
- What specific milestones must Nexalis achieve to unlock further tranches of its $52.3 million funding facility?