BriaCell Therapeutics Corp. (BCTX) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: June 03, 2026

Risk Assessment Details

Potential Dilution: 123.73% of current shares
Recent Dilution: 228.6% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
1.9M
Potential Supply
2.3M
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

Summary

BCTX currently has 1.88M outstanding shares. with significant dilution risk as 2.33M authorized shares could dilute existing holders by 123.7%. The company has significantly diluted shareholders by 228.6% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 1 stock split (positive for accessibility) and 1 reverse split (concerning signal).

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Jun 03, 2026

8-K filing: BriaCell Therapeutics Corp. completed an offering of 1,449,300 common shares for gross proceeds of $4.71 million and issued warrants to the placement agent. ($4.71M proceeds)

1.9M 2.3M
Dec 11, 2025

10-Q filing | 1.9M shares outstanding

1.9M 2.3M
Jul 16, 2025

8-K filing: BriaCell Therapeutics Corp. consummated a public offering of 10,775,000 common units and 1,225,000 pre-funded units at $1.25 and $1.249 per unit, respectively, resulting in gross proceeds of approximately $15 million. ($16.5M proceeds)

6.8M 2.3M
Jul 10, 2025

S-1/A filing: BriaCell Therapeutics Corp. is offering Common Units, Pre-Funded Units, and Warrants on a best efforts basis. Each Common Unit consists of one common share and one warrant. Each Pre-Funded Unit consists of one pre-funded warrant and one warrant. The assumed public offering price for each Common Unit is $2.93, and the exercise price of each warrant is $3.6625. The offering will terminate on September 13, 2025, unless completed sooner.

6.8M 9.2M
Jul 09, 2025

S-1/A filing: BriaCell Therapeutics Corp. is offering up to 6,825,938 common units, each consisting of one common share and one warrant, and pre-funded units, each consisting of one pre-funded warrant and one warrant, on a best efforts basis.

6.8M 9.5M
Jul 08, 2025

S-1 filing: BriaCell Therapeutics Corp. is offering up to 6,825,938 common units, each consisting of one common share and one warrant, and pre-funded units, each consisting of one pre-funded warrant and one warrant.

6.8M 9.5M
Jun 16, 2025

10-Q filing | 6.8M shares outstanding

6.8M 2.3M
Apr 28, 2025

8-K filing: BriaCell Therapeutics Corp. consummated a public offering of units and pre-funded units for gross proceeds of approximately $12.0 million, and the underwriter exercised its over-allotment option for additional gross proceeds of approximately $1.8 million. ($13.8M proceeds)

3.7M 2.3M
Apr 23, 2025

S-1/A filing: S-1/A filing for a firm commitment public offering of up to 2,331,002 common units, each consisting of one common share and one warrant, and pre-funded units, each consisting of a pre-funded warrant and one warrant, with the offering also including the common shares issuable from time to time upon exercise of the Pre-funded Warrants and Warrants.

3.7M 2.3M
Apr 22, 2025

S-1 filing: BriaCell Therapeutics Corp. is offering up to 2,331,002 common units, each consisting of one common share and one warrant, as well as pre-funded units, each consisting of a pre-funded warrant and one warrant.

3.7M 2.3M
Mar 12, 2025

10-Q filing | 3.7M shares outstanding

3.7M 0
Feb 05, 2025

8-K filing: BriaCell Therapeutics Corp. completed an offering of 762,500 common shares at $4.00 per share, resulting in gross proceeds of $3.05 million before fees and expenses. ($3.05M proceeds)

2.9M 0
Jan 24, 2025
Stock Split

8-K filing: Stock split 1-for-15 | Outstanding: 44,204,161 → 2,946,944

2.9M 0
Dec 16, 2024

10-Q filing | 44.2M shares outstanding

44M 0
Dec 13, 2024

8-K filing: BriaCell Therapeutics Corp. closed a public offering of 7,400,000 Units, each consisting of one common share and one warrant, at a combined price of $0.75 per Unit, with gross proceeds of approximately $5.55 million. ($5.55M proceeds)

36M 0
Oct 29, 2024

10-K filing | 36.2M shares outstanding

36M 0
Oct 02, 2024

8-K filing: BriaCell Therapeutics Corp. completed an offering of 5,128,500 common shares and common share purchase warrants at a combined price of $0.975, resulting in gross proceeds of approximately $5.0 million. ($5.0M proceeds)

18M 0
Sep 12, 2024

8-K filing: BriaCell Therapeutics Corp. completed a best efforts offering of 12,325,000 common shares at $0.69 per share, resulting in gross proceeds of $8,504,250 before deducting fees and expenses. ($8.5M proceeds)

18M 0
Jun 14, 2024

10-Q filing | 18.3M shares outstanding

18M 48M
May 17, 2024

8-K filing: BriaCell Therapeutics Corp. completed an offering on May 17, 2024, issuing 2,302,935 common shares, pre-funded warrants for 100,000 common shares, and warrants for 2,402,935 common shares, resulting in gross proceeds of $5,000,000.

16M 48M
Mar 18, 2024

10-Q filing | 16.0M shares outstanding

16M 48M
Jan 22, 2024

S-3 filing: BriaCell Therapeutics Corp. is offering up to $200,000,000 in aggregate of securities, including common shares.

16M 48M
Dec 14, 2023

10-Q filing | 16.0M shares outstanding

16M 0
Oct 25, 2023

10-K filing | 15.6M shares outstanding

16M 0
Aug 31, 2023
Stock Split

8-K filing: Stock split 1-for-1 | Outstanding: 15,518,072 → 15,518,072

16M 0
Jun 14, 2023

10-Q filing | 15.5M shares outstanding

16M 0
May 22, 2023

8-K filing: BriaCell Therapeutics Corp. issued 463,408 common shares to Prevail Partners, LLC at a price of $8.63 per share for gross proceeds of $4,000,000 on May 19, 2023. ($4.0M proceeds)

16M 0
May 15, 2023

8-K filing: BriaCell Therapeutics Corp. entered into a stock purchase agreement with Prevail Partners, LLC to issue 463,408 common shares for $4,000,000, with the funds used to pay amounts owed to InfoWorks under the MST Agreement. ($4.0M proceeds)

16M 0
Mar 20, 2023

POS AM filing: This prospectus relates to the issuance of up to 3,914,183 common shares upon the exercise of warrants.

16M 0
Mar 16, 2023

10-Q filing | 15.5M shares outstanding

16M 0
Dec 14, 2022

10-Q filing | 15.5M shares outstanding

16M 0
Oct 28, 2022

10-K filing | 15.5M shares outstanding

15M 0
Mar 10, 2022

POS AM filing: This prospectus relates to the resale of common shares issuable upon the exercise of certain outstanding warrants.

N/A 0
Nov 19, 2021

POS AM filing: This prospectus relates to the issuance of up to 4,260,766 common shares upon the exercise of warrants.

N/A 10M
Jun 15, 2021

F-1 filing: The filing is an F-1 prospectus relating to the offering and resale of up to 10,340,686 common shares by selling shareholders, including shares issuable upon exercise of warrants.

N/A 10M
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