Tharimmune, Inc. (THAR) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 13, 2026

Risk Assessment Details

Potential Dilution: 267.34% of current shares
Recent Dilution: 960.63% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
70M
Potential Supply
190M
Additional shares possible
Splits
None
Past 2 years

Summary

THAR currently has 69.8M outstanding shares. with significant dilution risk as 187M authorized shares could dilute existing holders by 267.3%. The company has significantly diluted shareholders by 960.63% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 13, 2026

10-Q filing | 69.8M shares outstanding

70M 190M
Mar 31, 2026

10-K filing | 56.7M shares outstanding

57M 190M
Jan 22, 2026

8-K filing: Tharimmune, Inc. entered into an underwriting agreement with Clear Street LLC for an offering of 1,800,000 shares of common stock at $2.92 per share and pre-funded warrants to purchase up to 17,000,000 shares of common stock, with gross proceeds expected to be approximately $55 million. ($55.0M proceeds)

35M 190M
Jan 09, 2026

S-3 filing: Tharimmune, Inc. may offer and sell, from time to time in one or more offerings, up to $2,000,000,000 in the aggregate of any combination of common stock, preferred stock, debt securities, warrants to purchase common stock, preferred stock or debt securities, or any combination of the foregoing, either individually or as units comprised of one or more of the other securities.

35M 190M
Dec 05, 2025

S-3 filing: The filing relates to the potential resale of up to 176,934,358 shares of common stock by selling stockholders, as well as an ATM offering of common stock with an aggregate offering price of up to $64,910,161.

35M 190M
Nov 12, 2025

10-Q filing | 35.0M shares outstanding

35M 9.7M
Oct 17, 2025

S-3 filing: The selling stockholder named in this prospectus may use this prospectus to offer and resell from time to time up to 326,750 shares of our common stock.

4.6M 9.7M
Sep 03, 2025

S-3/A filing: This S-3/A filing from Tharimmune, Inc. relates to the registration for resale of up to 2,463,601 shares of common stock by certain selling shareholders.

4.6M 9.4M
Aug 26, 2025

S-3 filing: This S-3 filing describes the potential resale of common stock by selling stockholders, including shares issuable upon exercise of warrants, that were previously issued in a registered direct offering and concurrent private placement, and a private placement.

4.6M 9.4M
Aug 14, 2025

10-Q filing | 4.6M shares outstanding

4.6M 6.9M
Jul 31, 2025

8-K filing: Tharimmune, Inc. entered into a securities purchase agreement for a private placement involving the issuance and sale of common stock, pre-funded warrants, and common warrants, closing on July 31, 2025, with gross proceeds expected to be $1,225,003.

2.6M 6.9M
Jul 28, 2025

8-K filing: Tharimmune, Inc. completed a registered direct public offering of $1.74 million of securities, consisting of common stock and warrants, with the offering closing on July 25, 2025. ($1.74M proceeds)

2.6M 6.9M
Jul 03, 2025

S-3 filing: The filing relates to the registration of 4,222,948 shares of common stock for resale by selling stockholders.

2.6M 6.9M
Jun 20, 2025

8-K filing: Tharimmune, Inc. entered into a securities purchase agreement for a private placement involving the issuance and sale of common stock, pre-funded warrants, and Series A and B warrants, with the closing expected on June 20, 2025. ($2.5M proceeds)

2.6M 2.7M
May 12, 2025

10-Q filing | 2.6M shares outstanding

2.6M 2.7M
Mar 26, 2025

10-K filing | 2.1M shares outstanding

2.1M 2.7M
Dec 19, 2024

S-3 filing: Registration of 1,442,167 shares of common stock for resale by selling stockholders, consisting of shares issued in a private placement and shares issuable upon exercise of warrants.

1.5M 2.7M
Dec 06, 2024

8-K filing: Tharimmune, Inc. entered into a securities purchase agreement for the issuance and sale of common stock, pre-funded warrants, and common warrants in a private placement, with gross proceeds expected to be approximately $2.02 million. ($2.02M proceeds)

1.5M 1.2M
Nov 07, 2024

10-Q filing | 1.5M shares outstanding

1.5M 1.2M
Aug 09, 2024

10-Q filing | 1.1M shares outstanding

1.1M 1.2M
Jul 15, 2024

S-3 filing: This S-3 filing relates to the registration of 1,009,102 shares of common stock for resale by selling stockholders, comprised of shares issued in a private placement and shares issuable upon exercise of warrants.

780K 1.2M
Jun 20, 2024

8-K filing: Tharimmune, Inc. entered into a securities purchase agreement for a private placement involving the issuance and sale of common stock, pre-funded warrants, and common warrants, with gross proceeds expected to be approximately $2.08 million. ($0.35M proceeds)

780K 220K
May 24, 2024
Stock Split

8-K filing: Stock split 1-for-15 | Outstanding: 11,757,808 → 783,853

780K 220K
May 09, 2024

10-Q filing | 11.8M shares outstanding

12M 3.3M
Feb 23, 2024

10-K filing | 11.7M shares outstanding

12M 3.3M
Dec 08, 2023

8-K filing: Tharimmune, Inc. announced the closing of its public offering of 11,000,000 shares of common stock, with gross proceeds of approximately $11 million. ($11.0M proceeds)

28K 3.3M
Nov 20, 2023
Stock Split

8-K filing: Stock split 1-for-25 | Outstanding: 700,474 → 28,018

28K 3.3M
Nov 17, 2023

S-1/A filing: S-1/A filing dated 2023-11-17 for offering up to 2,105,263 shares of common stock and up to 2,105,263 pre-funded warrants to purchase up to 2,105,263 shares of common stock at an assumed public offering price of $4.75 per share.

700K 82M
Nov 07, 2023

10-Q filing | 17.3M shares outstanding

17M 79M
Nov 06, 2023

S-1 filing: This S-1 filing relates to the offering of common stock and pre-funded warrants to purchase common stock by Tharimmune, Inc.

18M 79M
Aug 11, 2023

10-Q filing | 17.5M shares outstanding

18M 79M
May 22, 2023

10-Q filing | 16.8M shares outstanding

17M 79M
May 01, 2023

8-K filing: Hillstream BioPharma, Inc. completed a public offering of 5,300,000 shares of common stock at $0.50 per share, with an option for the underwriters to purchase an additional 795,000 shares, and issued warrants to ThinkEquity to purchase shares equal to 3% of the Securities sold in the Offering at an initial exercise price of $0.625 per share. ($2.65M proceeds)

12M 79M
Mar 17, 2023

S-3 filing: Hillstream BioPharma, Inc. may offer and sell, from time to time in one or more offerings, any combination of common stock, preferred stock, debt securities, warrants to purchase common stock, preferred stock or debt securities, or any combination of the foregoing, either individually or as units comprised of one or more of the other securities, having an aggregate initial offering price not exceeding $75 million.

12M 79M
Mar 16, 2023

10-K filing | 11.3M shares outstanding

11M 3.2M
Nov 14, 2022

10-Q filing | 11.5M shares outstanding

12M 3.2M
Aug 11, 2022

10-Q filing | 11.6M shares outstanding

12M 3.2M
May 16, 2022

10-Q filing | 10.6M shares outstanding

11M 3.2M
Apr 01, 2022

10-K filing | 11.4M shares outstanding

11M 3.2M
Jan 05, 2022

S-1/A filing: This S-1/A filing details a proposed offering of common stock, with underwriters having an option to purchase additional shares. The company intends to use the net proceeds to advance their product candidates and for general corporate purposes.

6.4M 3.2M
Jan 03, 2022

S-1/A filing: This is an S-1/A filing for an initial public offering of common stock.

6.4M 3.2M
Dec 10, 2021

S-1/A filing: This S-1/A filing details a proposed offering of common stock by Hillstream BioPharma, Inc., underwritten by ThinkEquity LLC, with the intention to use the proceeds for advancing product candidates and for general corporate purposes.

6.4M 3.6M
Oct 15, 2021

S-1/A filing: S-1/A filing for common stock offering with an option for underwriters to purchase additional shares.

6.4M 3.5M
Sep 27, 2021

S-1 filing: This is an S-1 filing for an initial public offering of common stock.

6.4M 3.1M
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