Board Change • May 20
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Anton Uvarov is the most experienced director on the board, commencing their role in 2025. Independent Non-Executive Chairman Peter Christie was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • May 01
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Anton Uvarov is the most experienced director on the board, commencing their role in 2025. Independent Non-Executive Chairman Peter Christie was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Annuncio • Apr 21
Patrys Limited has completed a Follow-on Equity Offering in the amount of AUD 3.36 million. Patrys Limited has completed a Follow-on Equity Offering in the amount of AUD 3.36 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 6,666,667
Price\Range: AUD 0.024
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 133,333,333
Price\Range: AUD 0.024
Transaction Features: Subsequent Direct Listing Annuncio • Jan 29
Patrys Limited (ASX:PAB) completed the acquisition of Reliis Ltd. Patrys Limited (ASX:PAB) entered into a binding agreement to acquire Reliis Ltd on November 26, 2025. The consideration consists of 110 million common equity of Patrys Limited to be issued for common equity and 25 million common equity of Patrys Limited to be issued for convertible debt of Reliis Ltd. Patrys Limited will pay an earnout payment 40 million Class A Performance Rights and 30 million Class B Performance Rights contingent upon the first subject being dosed in a Phase 1 Clinical Study and successful IND approval by a regulatory body, respectively.
The transaction is subject to approval by regulatory board / committee and approval of offer by shareholders of Patrys Limited. As of January 19, 2026 acquirer shareholders have approved this transaction.
Patrys Limited (ASX:PAB) completed the acquisition of Reliis Ltd on January 28, 2026.
As of January 27, 2026 legal, technical and financial due diligence, all remaining conditions precedent under the Share Sale Agreement have been satisfied (or waived) and all transaction documents have now been duly executed. Annuncio • Nov 27
Patrys Limited (ASX:PAB) entered into a binding agreement to acquire Reliis Ltd. Patrys Limited (ASX:PAB) entered into a binding agreement to acquire Reliis Ltd on November 26, 2025. The consideration consists of 110 million common equity of Patrys Limited to be issued for common equity and 25 million common equity of Patrys Limited to be issued for convertible debt of Reliis Ltd. Patrys Limited will pay an earnout payment 40 million Class A Performance Rights and 30 million Class B Performance Rights contingent upon the first subject being dosed in a Phase 1 Clinical Study and successful IND approval by a regulatory body, respectively.
The transaction is subject to approval by regulatory board / committee and approval of offer by shareholders of Patrys Limited. Annuncio • Nov 11
Patrys Limited Announces Management Changes, Effective 10 November 2025 Patrys Limited announced that Dr. James Campbell has tendered his resignation as a Non-Executive Director of the Company, effective 10 November 2025. Dr. Campbell's tenure with the company commenced in November 2014, where he was originally a Non-Executive Director from 12 November 2014, then appointed as Managing Director and Chief Executive Officer (CEO) of the Company for the period 13 April 2015 to 30 June 2025. Dr. Campbell's CEO role was made redundant on 1 July 2025. Since 1 July 2025 Dr Campbell has been a Non-Executive Director. The company also announced the appointment of Mr. Brian Leedman as a Non-Executive Director, effective 10 November 2025. Mr. Brian Leedman is a seasoned biotechnology executive and company director with more than 20 years of experience in corporate strategy, investor relations, and capital markets within the life sciences sector. He is the founder and former director of ResApp Health Ltd, which was acquired by Pfizer Inc. in 2022, and has held board roles across a range of ASX-listed biotechnology companies, including Neuroscientific Biopharmaceuticals, Neurotech International, Alcidion Corporation, Oncosil and others. Mr. Leedman is currently a Non-Executive Chairman of Blinklab Ltd. and has extensive experience guiding emerging biomedical companies from early research through to clinical development and commercialisation. He is well recognised in the Australian biotech community for his leadership in capital raising, corporate governance, and building investor awareness for innovative medical technologies. Mr. Leedman holds a Bachelor of Economics and an MBA from the University of Western Australia. His deep understanding of the biotech industry and proven record of creating shareholder value will provide valuable strategic insight to Patrys as it advances its deoxymab platform through preclinical and clinical development. The Company also advises that Mr. Johnathon Busing and Mr. Kieran Witt have been appointed as Joint Company Secretaries of the Company, with effect from 10 November 2025. Mr. Busing is a Chartered Accountant and the founder of Eleven Corporate, a Perth-based corporate services firm. He has extensive experience in accounting, corporate advisory, governance and ASX compliance, and currently acts as Company Secretary and Chief Financial Officer for a number of ASX- listed companies. Mr. Witt is a Chartered Accountant with extensive experience as a consultant advising ASX listed companies on capital raisings, mergers and acquisitions, statutory accounting requirements and corporate compliance. Currently, he also serves as the Company Secretary for several other ASX-listed companies, where he oversees compliance with corporate governance requirements and regulatory obligations. He is a member of Chartered Accountants Australia and New Zealand and holds a Bachelor of Commerce (Accounting). Mr. Busing and Mr. Witt will be the persons responsible for communication with the ASX in relation to Listing Rule matters under Listing Rule 12.6. As part of this change, Mr. Stefan Ross will step down from his role as Company Secretary, effective 10 November 2025. Annuncio • Sep 08
Patrys Limited, Annual General Meeting, Oct 09, 2025 Patrys Limited, Annual General Meeting, Oct 09, 2025. Reported Earnings • Aug 31
Full year 2025 earnings released: AU$0.001 loss per share (vs AU$0.001 loss in FY 2024) Full year 2025 results: AU$0.001 loss per share (in line with FY 2024). Revenue: AU$828.5k (down 41% from FY 2024). Net loss: AU$3.01m (loss narrowed 15% from FY 2024). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 58% per year, which means it is significantly lagging earnings. Board Change • Aug 18
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Chairman Peter Christie was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Jul 23
Patrys Limited has filed a Follow-on Equity Offering in the amount of AUD 1.774357 million. Patrys Limited has filed a Follow-on Equity Offering in the amount of AUD 1.774357 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,774,357,402
Price\Range: AUD 0.001
Discount Per Security: AUD 0.00006
Transaction Features: Rights Offering Annuncio • Jun 10
Patrys Limited has completed a Follow-on Equity Offering in the amount of AUD 0.358363 million. Patrys Limited has completed a Follow-on Equity Offering in the amount of AUD 0.358363 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 308,362,535
Price\Range: AUD 0.001
Discount Per Security: AUD 0.00006
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 50,000,000
Price\Range: AUD 0.001
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Board Change • Feb 04
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Chairman of the Board Charmaine Gittleson was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 31
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Chairman of the Board Charmaine Gittleson was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Oct 21
Patrys Limited, Annual General Meeting, Nov 22, 2024 Patrys Limited, Annual General Meeting, Nov 22, 2024. New Risk • Aug 24
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$1.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.8m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 19% per year over the past 5 years. Revenue is less than US$1m (AU$1.4m revenue, or US$948k). Market cap is less than US$10m (AU$12.3m market cap, or US$8.38m). New Risk • Jul 01
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 32% per year over the past 5 years. Minor Risks Revenue is less than US$5m (AU$1.7m revenue, or US$1.1m). Market cap is less than US$100m (AU$16.4m market cap, or US$11.0m). New Risk • May 16
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.4m (US$9.61m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 32% per year over the past 5 years. Market cap is less than US$10m (AU$14.4m market cap, or US$9.61m). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Revenue is less than US$5m (AU$1.7m revenue, or US$1.1m). New Risk • Feb 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.4m (US$9.38m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$5.8m free cash flow). Earnings have declined by 36% per year over the past 5 years. Market cap is less than US$10m (AU$14.4m market cap, or US$9.38m). Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Revenue is less than US$5m (AU$2.9m revenue, or US$1.9m). New Risk • Nov 27
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.4m (US$9.51m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$5.8m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 36% per year over the past 5 years. Market cap is less than US$10m (AU$14.4m market cap, or US$9.51m). Minor Risk Revenue is less than US$5m (AU$2.9m revenue, or US$1.9m). Annuncio • Sep 15
Patrys Limited Announces Retirement of Suzy Jones as Director Patrys Limited announced that Ms. Suzy Jones will be retiring as a Director of the company effective from close of business on 15 September 2023. Ms. Jones joined the Patrys Board in 2011 and has played a pivotal role in the Company's evolution over the last decade. Her corporate strategy, drug development and business development guidance helped Patrys gain access to novel technologies and expand its portfolio. Ms Jones also leveraged her global network to attract industry experts to support Patrys' mission. Ms. Jones is Founder and Managing Partner of DNA Ink LLC, a life sciences advisory firm in San Francisco and prior to starting her own firm, spent 20 years at Genentech where she served in roles in immunology research, product development and business development. Ms. Jones' departure aligns with the Company's previously noted vision to refresh its Board of Directors in keeping with good governance practices. Ms. Jones has on-going obligations as co-founder of an antibody drug conjugate company and consultant CBO to her DNA Ink clients. Patrys has now commenced searching for a new Non-Executive Director to help contribute to its next phase of growth as it becomes a clinical-stage therapeutic development company. Reported Earnings • Aug 30
Full year 2023 earnings released: AU$0.003 loss per share (vs AU$0.003 loss in FY 2022) Full year 2023 results: AU$0.003 loss per share (in line with FY 2022). Revenue: AU$2.85m (down 14% from FY 2022). Net loss: AU$7.06m (loss widened 4.1% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 9% per year. Annuncio • Aug 28
Patrys Limited, Annual General Meeting, Nov 15, 2023 Patrys Limited, Annual General Meeting, Nov 15, 2023. New Risk • Aug 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$6.9m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 36% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Revenue is less than US$5m (AU$3.5m revenue, or US$2.2m). Market cap is less than US$100m (AU$18.5m market cap, or US$11.9m). New Risk • Jul 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$6.9m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 36% per year over the past 5 years. Minor Risks Revenue is less than US$5m (AU$3.5m revenue, or US$2.4m). Market cap is less than US$100m (AU$22.6m market cap, or US$15.5m). Reported Earnings • Feb 25
First half 2023 earnings released: AU$0.002 loss per share (vs AU$0.002 loss in 1H 2022) First half 2023 results: AU$0.002 loss per share (in line with 1H 2022). Revenue: AU$1.83m (up 10% from 1H 2022). Net loss: AU$3.89m (loss narrowed 14% from 1H 2022). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Board Change • Nov 17
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Chairman Charmaine Gittleson was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 31
Full year 2022 earnings released: AU$0.003 loss per share (vs AU$0.003 loss in FY 2021) Full year 2022 results: AU$0.003 loss per share (vs AU$0.003 loss in FY 2021). Revenue: AU$3.33m (up 149% from FY 2021). Net loss: AU$6.78m (loss widened 67% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Member of Scientific Advisory Board Peter Ordentlich was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 27
Full year 2021 earnings released: AU$0.003 loss per share (vs AU$0.003 loss in FY 2020) The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2021 results: Revenue: AU$1.34m (up 73% from FY 2020). Net loss: AU$4.06m (loss widened 48% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Feb 21
First half 2021 earnings released: AU$0.001 loss per share (vs AU$0.002 loss in 1H 2020) First half 2021 results: Net loss: AU$2.00m (loss widened 17% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.