Biotech and Clinical-Stage Pharma Dilution Risk
Clinical-stage biotech and pharma companies often rely on equity financing while trials, FDA milestones, and commercialization timelines consume cash.
Why Biotech / Pharma Dilution Risk Matters
This group is structurally exposed to shelf registrations, registered directs, PIPEs, and ATM programs because many issuers have little or no product revenue.
How To Use This Biotech / Pharma Page
Use this as a research starting point. Check individual ticker pages for the live score, SEC filing context, float data, shelf capacity, cash runway, warrants, and other dilution signals before making any decision.
Biotech / Pharma Dilution Risk Signals To Watch
Biotech / Pharma pages are organized around search angles investors actually use: highest-risk names, SEC filing signals, shelf and ATM activity, cash runway pressure, warrant overhang, public float, and debt load. Each paragraph is written to stand alone so search engines and AI retrieval systems can cite the page cleanly.
SEC Filing Angle
Look for shelf registrations, prospectus supplements, registered direct offerings, PIPE deals, ATM programs, convertible notes, warrant exercises, and reverse split filings. These are often the filings that appear before dilution becomes visible in share-count history.
Balance Sheet Angle
Cash, debt, and market cap help explain whether a company can fund operations without issuing stock. Low cash relative to operating needs can raise dilution risk even before a new offering is announced.
Float and Warrant Angle
Small public floats can move sharply when new shares or warrant exercises enter the market. A high warrant-risk score or large float change can signal future supply pressure.
Ranking Angle
The ranked table puts the highest current DilutionWatch scores first. The table is not a recommendation; it is a research queue for users who want to investigate dilution risk faster.
Ranked Biotech / Pharma Watchlist
Ranked by DilutionWatch score, SEC signal count, and available market data. This is not a buy, sell, short, or hold list.
| Ticker | Company | Risk | Score | Market Cap | Cash | Debt | Public Float |
|---|---|---|---|---|---|---|---|
| ERNA | Ernexa Therapeutics Inc. | CRITICAL | 100/100 | $3.22M | $4.32M | $0 | 818.1K |
| FBLG | FibroBiologics, Inc. | CRITICAL | 100/100 | $6.20M | $3.52M | $60.0K | 4.57M |
| VBIO | Valion Bio, Inc. | CRITICAL | 97/100 | $17.35M | $2.11M | $6.45M | 2.76M |
| HLSQ | BiomX Inc. | CRITICAL | 95/100 | $4.62M | $572.0K | $247.0K | N/A |
| PHGE | BiomX Inc. | CRITICAL | 95/100 | $49.44M | $572.0K | $247.0K | 7.80M |
| SXTP | 60 Degrees Pharmaceuticals, Inc. | CRITICAL | 93/100 | $2.60M | $2.26M | $144.0K | 2.44M |
| HCWB | HCW Biologics Inc. | CRITICAL | 92/100 | $2.09M | $741.3K | $119.4K | N/A |
| PAVM | PAVmed Inc. | CRITICAL | 92/100 | $17.11M | $3.78M | $13.35M | 1.67M |
| MBRX | Moleculin Biotech, Inc. | CRITICAL | 92/100 | $168.48M | $7.26M | $326.0K | 5.29M |
| BCAB | BioAtla, Inc. | CRITICAL | 91/100 | $3.34M | $1.54M | $6.09M | N/A |
| AUTL | Autolus Therapeutics plc | CRITICAL | 90/100 | $412.55M | $171.41M | $0 | 33.90M |
| SLXN | Silexion Therapeutics Corp | CRITICAL | 90/100 | $921.3K | $2.23M | $1.99M | 414.8K |
| CUE | Cue Biopharma, Inc. | CRITICAL | 90/100 | $133.08M | $17.39M | $4.00M | 3.61M |
| RKDA | Arcadia Biosciences, Inc. | CRITICAL | 89/100 | $385.0K | $4.18M | $0 | 2.05M |
| ARTL | Artelo Biosciences, Inc. | CRITICAL | 88/100 | $10.11M | $4.20M | $719.0K | 2.12M |
| MTNB | Matinas BioPharma Holdings, Inc. | CRITICAL | 88/100 | $26.89M | $1.26M | $0 | 5.23M |
| INO | Inovio Pharmaceuticals, Inc. | CRITICAL | 87/100 | $92.02M | $36.67M | $62.76M | 81.93M |
| SHPH | Shuttle Pharmaceuticals Holdings, Inc. | CRITICAL | 87/100 | $24.97M | $1.73M | $91.0K | N/A |
| DRMA | Dermata Therapeutics, Inc. | CRITICAL | 87/100 | $3.04M | $4.41M | $0 | 3.17M |
| INBS | Intelligent Bio Solutions Inc. | CRITICAL | 87/100 | $5.21M | $3.99M | $0 | 2.17M |
| CTOR | Citius Oncology, Inc. | CRITICAL | 87/100 | $78.10M | $16.56M | $0 | 14.88M |
| OTLK | Outlook Therapeutics, Inc. | CRITICAL | 86/100 | $128.98M | $11.24M | $0 | 105.53M |
| TVRD | Tvardi Therapeutics, Inc. | CRITICAL | 86/100 | $11.54M | $20.89M | $174.0K | 6.46M |
| ENVB | Enveric Biosciences, Inc. | CRITICAL | 85/100 | $6.36M | $2.92M | $3.49M | 3.64M |
| MYNZ | Mainz Biomed NV | CRITICAL | 85/100 | $10.56M | $13.40M | $956.9K | 3.46M |
| VVOS | Vivos Therapeutics, Inc. | CRITICAL | 83/100 | $2.58M | $1.77M | $8.14M | 12.05M |
| KALA | KALA BIO, Inc. | CRITICAL | 82/100 | $3.40M | $7.23M | $47.20M | 18.59M |
| CANF | Can-Fite BioPharma Ltd. | CRITICAL | 82/100 | $4.32M | $5.53M | $71.0K | N/A |
| BIVI | BioVie Inc. | CRITICAL | 82/100 | $10.86M | $8.98M | $62.5K | 7.50M |
| KPTI | Karyopharm Therapeutics Inc. | CRITICAL | 81/100 | $10.89M | $148.40M | $169.29M | 14.70M |
| BIAF | bioAffinity Technologies, Inc. | CRITICAL | 81/100 | $23.98M | $2.43M | $260.0K | 4.39M |
| NBY | NovaBay Pharmaceuticals Inc | CRITICAL | 81/100 | $51.92M | $6.97M | $106.0K | 2.62M |
| ELTX | Elicio Therapeutics, Inc. | CRITICAL | 81/100 | $48.10M | $23.48M | $9.54M | 13.19M |
| SNTI | Senti Biosciences Holdings, Inc. | CRITICAL | 81/100 | $5.81M | $6.46M | $0 | 14.43M |
| RNAZ | TransCode Therapeutics, Inc. | CRITICAL | 80/100 | $28.27M | $8.38M | $0 | 835.4K |
| DCOY | Decoy Therapeutics Inc. | CRITICAL | 80/100 | $674.8K | $8.29M | $0 | 528.4K |
| PPCB | Propanc Biopharma, Inc. | CRITICAL | 79/100 | $13.36M | $93.2K | $55.0K | 1.63M |
| PSTV | Plus Therapeutics, Inc. | CRITICAL | 79/100 | $40.06M | $8.59M | $0 | 6.46M |
| SMNR | Semnur Pharmaceuticals, Inc. | CRITICAL | 79/100 | $124.31M | $39.0K | $19.68M | 29.71M |
| ESLA | Estrella Immunopharma, Inc. | CRITICAL | 79/100 | $40.55M | $100.0K | $0 | 14.11M |
| BKYI | BIO-key International, Inc. | CRITICAL | 79/100 | $3.93M | $1.38M | $135.8K | N/A |
| INDP | Indaptus Therapeutics, Inc. | CRITICAL | 78/100 | $455.69M | $11.55M | $0 | 3.24M |
| LYRA | Lyra Therapeutics, Inc. | CRITICAL | 78/100 | $337.2K | $15.89M | $30.26M | 336.1K |
| PDSB | PDS Biotechnology Corporation | CRITICAL | 77/100 | $72.76M | $5.60M | $0 | 54.40M |
| INM | InMed Pharmaceuticals Inc. | CRITICAL | 77/100 | $8.74M | $5.20M | $29.3K | 1.97M |
| SNOA | Sonoma Pharmaceuticals, Inc. | CRITICAL | 76/100 | $5.51M | $5.34M | $611.0K | 1.72M |
| AGEN | Agenus Inc. | CRITICAL | 76/100 | $313.34M | $33.38M | $30.07M | 38.63M |
| PYXS | Pyxis Oncology, Inc. | CRITICAL | 76/100 | $153.47M | $33.00M | $0 | 40.40M |
| BNGO | Bionano Genomics, Inc. | CRITICAL | 76/100 | $14.37M | $3.73M | $0 | 10.30M |
| ONTX | Traws Pharma, Inc. | CRITICAL | 76/100 | $139.08M | $20.56M | N/A | N/A |
| TELA | TELA Bio, Inc. | CRITICAL | 76/100 | $43.10M | $30.42M | $59.41M | 19.48M |
| YDES | YD Bio Ltd | CRITICAL | 76/100 | $427.57M | $6.01M | $22.3K | 319.9K |
| AIM | AIM ImmunoTech Inc. | HIGH | 75/100 | $5.06M | $16.41M | $210.0K | 7.99M |
| CVKD | Cadrenal Therapeutics, Inc. | HIGH | 75/100 | $3.36M | $2.39M | $0 | 2.38M |
| OVID | Ovid Therapeutics Inc. | HIGH | 75/100 | $441.37M | $11.33M | $13.07M | 161.29M |
| ATRA | Atara Biotherapeutics, Inc. | HIGH | 75/100 | $83.31M | $9.87M | $0 | 4.74M |
| LEXX | Lexaria Bioscience Corp. | HIGH | 75/100 | $79.82M | $3.64M | $0 | 23.44M |
| TVGN | Tevogen Bio Holdings Inc. | HIGH | 74/100 | $40.89M | $0 | $9.47M | 1.07M |
| GNPX | Genprex, Inc. | HIGH | 74/100 | $1.60M | $15.15M | $0 | N/A |
| BTAIQ | BioXcel Therapeutics, Inc. | HIGH | 74/100 | $438.3K | $12.84M | $104.45M | N/A |
Data Freshness and Staleness Controls
This static page was regenerated from the DilutionWatch database on 2026-10-28. The nightly SEO build updates the visible date, structured-data dateModified field, and sector sitemap lastmod so Google sees the page as current when the underlying data refreshes.
Frequently Asked Questions
What is Biotech / Pharma dilution risk?
Biotech / Pharma dilution risk is the chance that companies in this group issue new shares, warrants, convertible securities, or ATM stock to fund operations. DilutionWatch tracks this risk with SEC filing signals, cash runway, market data, float data, and a dilution-risk score.
Which Biotech / Pharma stocks have the highest dilution risk right now?
The current highest-ranked Biotech / Pharma names on this page include ERNA, FBLG, VBIO, HLSQ, PHGE. The ranking changes when scores, cash, debt, float, and SEC-derived signals update.
How often is this Biotech / Pharma page updated?
This static page is regenerated from the DilutionWatch database by the SEO build job. The visible updated date and sitemap lastmod are refreshed when the generator runs.
Is this Biotech / Pharma list financial advice?
No. This sector page is for informational research only. It is not financial advice, not a recommendation, and not a substitute for your own due diligence.
Research Notes
Sector matching currently uses curated ticker seeds plus company-name keywords because the production ticker table does not yet store normalized sector and industry fields. That makes these pages useful immediately without spending API or model tokens, and they can become more precise when Yahoo sector/industry data is stored in the database.