Tiziana Life Sciences (US:TLSA) Globenewswire·2026-01-16 12:00Core Viewpoint - Tiziana Life Sciences, Ltd. has announced a registered direct offering of 6,400,000 ordinary shares at $1.25 per share, aiming to raise approximately $8.0 million to fund clinical trials for its lead candidate, intranasal foralumab [1][3]. Group 1: Offering Details - The offering is conducted without an underwriter or placement agent and is targeted at senior management and existing shareholders [1]. - Participants in the offering will receive warrants to purchase additional shares at $1.50, potentially raising an additional $9.6 million [1]. - The offering is expected to close on January 16, 2026, pending customary closing conditions [1]. Group 2: Management Participation - CEO Ivor Elrifi purchased 2,400,000 ordinary shares, increasing his total holdings to 2,757,848 shares [2]. - Executive Chairman Gabriele Cerrone acquired 1,600,000 shares through Panetta Partners Ltd, raising his total holdings to 44,974,830 shares [2]. Group 3: Use of Proceeds - Proceeds from the offering will be utilized to complete Phase 2 clinical trials for non-active secondary progressive multiple sclerosis (na-SPMS) and multiple system atrophy (MSA), with top-line data expected from both trials [3]. Group 4: Product Information - Foralumab is a fully human anti-CD3 monoclonal antibody that stimulates T regulatory cells when administered intranasally [7]. - The drug is currently being tested in a Phase 2a trial for na-SPMS, with positive outcomes reported in an open-label program involving 14 patients [7]. - Foralumab represents a novel approach to treating neuroinflammatory and neurodegenerative diseases [8]. Group 5: Company Overview - Tiziana Life Sciences is a clinical-stage biopharmaceutical company focused on developing innovative therapies using alternative drug delivery technologies [8]. - The company aims to improve efficacy, safety, and tolerability of treatments compared to traditional intravenous delivery methods [8].