Third Harmonic Bio, Inc. (THRD) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: July 31, 2025

Risk Assessment Details

Potential Dilution: 22.93% of current shares
Recent Dilution: 14.02% (2 years)
Historical Dilution Factor: moderate recent dilution
Outstanding Shares
45M
Potential Supply
10M
Additional shares possible
Splits
None
Past 2 years

Summary

THRD currently has 45.1M outstanding shares. with moderate dilution risk from 10.4M authorized shares representing 22.9% potential dilution. The company has diluted shareholders by 14.02% over the past 2 years through share issuances.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Jul 31, 2025

POS AM filing: This is a post-effective amendment to deregister securities from a previous S-3 filing due to the company's plan of dissolution.

45M 10M
May 08, 2025

10-Q filing | 45.1M shares outstanding

45M 34M
Mar 27, 2025

10-K filing | 45.1M shares outstanding

45M 34M
Nov 07, 2024

10-Q filing | 45.1M shares outstanding

45M 34M
Aug 08, 2024

10-Q filing | 39.6M shares outstanding

40M 34M
May 15, 2024

10-Q filing | 39.4M shares outstanding

39M 34M
Mar 26, 2024

10-K filing | 40.7M shares outstanding

41M 34M
Nov 09, 2023

10-Q filing | 40.4M shares outstanding

40M 34M
Oct 02, 2023

S-3 filing: Third Harmonic Bio, Inc. may offer up to $400.0 million aggregate dollar amount of shares of their common stock or preferred stock, debt securities, warrants to purchase their common stock, preferred stock or debt securities, subscription rights to purchase their common stock, preferred stock or debt securities and/or units consisting of some or all of these securities, in any combination.

40M 34M
Aug 10, 2023

10-Q filing | 40.4M shares outstanding

40M 10M
May 11, 2023

10-Q filing | 40.4M shares outstanding

40M 10M
Mar 29, 2023

10-K filing | 40.3M shares outstanding

40M 10M
Nov 09, 2022

10-Q filing | 40.5M shares outstanding

41M 10M
Sep 08, 2022

S-1/A filing: This is an S-1/A filing for a company offering 9,000,000 shares of common stock at an assumed initial public offering price of $17.00 per share, with an underwriter's over-allotment option of 1,350,000 shares. The company intends to list its common stock on Nasdaq under the symbol "THRD."

28M 10M
Aug 23, 2022

S-1 filing: This S-1 filing is for an initial public offering of common stock. The company intends to use the net proceeds from this offering to advance the clinical development of THB001 for the treatment of urticaria and asthma, fund further development or acquisition of future programs, and for working capital and other general corporate purposes.

63M 0
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