Tiziana Life Sciences Ltd
TLSA evidence brief
What we can confirm
- Market Cap:
- $122.2M
What it means
What to watch
Prepared research question
What matters most for TLSA—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · TLSA
Tiziana Life Sciences Ltd is a biotechnology company developing intranasal foralumab, a fully human anti-CD3 monoclonal antibody, for immunomodulation in neurodegenerative and inflammatory diseases, with its lead program in non-active Secondary Progressive Multiple Sclerosis (na-SPMS).
Key risk: No approved products or revenue
Market Cap
$122.2M
Cash Runway
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Lead Asset
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Next Catalyst
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Tracking 5 clinical trials for Tiziana Life Sciences Ltd.
Tiziana Life Sciences Ltd is a biotechnology company developing intranasal foralumab, a fully human anti-CD3 monoclonal antibody, for immunomodulation in neurodegenerative and inflammatory diseases, with its lead program in non-active Secondary Progressive Multiple Sclerosis (na-SPMS).
- Lead candidate is intranasal foralumab, a fully human anti-CD3 monoclonal antibody [news · published 2026-09-21].
- Phase 2a INFORM-MS trial in non-active Secondary Progressive Multiple Sclerosis completed last patient last visit in September 2026; topline data expected in October 2026 [news · published 2026-09-21].
- Expanded Access Program data in 14 na-SPMS patients showed favorable trends in disability stability and clinically meaningful improvements in fatigue [news · published 2026-05-19].
- Preclinical data published in April 2026 showed intranasal anti-CD3 antibody attenuates long COVID neuroinflammation and improves cognitive function [news · published 2026-04-16].
- Phase 2a trials also underway in Multiple System Atrophy (MSA) and Amyotrophic Lateral Sclerosis (ALS) [catalyst].
What works
- Intranasal foralumab has shown favorable trends in disability stability and clinically meaningful fatigue improvements in an Expanded Access Program for na-SPMS [news · published 2026-05-19].
- The company has advanced its lead program to a completed Phase 2a trial with topline data expected soon, indicating steady clinical execution [news · published 2026-09-21].
- Preclinical evidence suggests potential utility beyond MS, including in long COVID neuroinflammation [news · published 2026-04-16].
- Multiple Phase 2a trials are ongoing across different indications (MSA, ALS), diversifying the pipeline [catalyst].
What to weigh
- The company is a development-stage biotechnology firm with no approved products or reported revenue from product sales [inferred from context].
- Phase 2a data for the lead program are not yet available; efficacy and safety remain unproven in a controlled setting [news · published 2026-09-21].
- The Expanded Access Program data are from a small, open-label study (14 patients) and may not predict Phase 2a results [news · published 2026-05-19].
- Competition in the SPMS treatment landscape includes approved therapies, which may limit commercial uptake if foralumab is approved.
From the filings
Quoted directly from source documents.
Expanded Access Program showed favorable trends in disability stability and fatigue improvement
“Favourable trends seen in stability of disability and clinically meaningful improvements in fatigue.”
News · May 19, 2026
Topline data from Phase 2a MS trial expected in late Q3/early Q4 2026
“Top line data readout expected in late Q3/early Q4”
News · June 25, 2026
Catalyst timeline
- 2023-11-15 · Phase 2a start in na-SPMS (randomized, double-blind, placebo-controlled) — Initiation of the core Phase 2a trial for intranasal foralumab in non-active Secondary Progressive Multiple Sclerosis.
- 2025-03-04 · Phase 2a start in na-SPMS (open-label, multicenter) — Additional open-label study in na-SPMS to gather further safety and efficacy data.
- 2025-05-19 · Phase 2a start in Multiple System Atrophy (MSA) — Expansion of the foralumab program into a new neurodegenerative indication.
- 2026-07-25 · Phase 2a start in Amyotrophic Lateral Sclerosis (ALS) — Initiation of a Phase 2a trial in ALS, further broadening the pipeline.
Risks & what to watch (4)›
Key risks
- No approved products or revenue — Tiziana has no marketed products or reported revenue from product sales, relying on financing for operations [inferred from context].
- Phase 2a data not yet available — Efficacy and safety of intranasal foralumab in a controlled Phase 2a trial are pending topline data expected in October 2026 [news · published 2026-09-21].
- Small open-label data may not predict — Expanded Access Program data are from only 14 patients in an open-label setting, limiting generalizability [news · published 2026-05-19].
- Competitive SPMS landscape — Several approved therapies exist for SPMS, which could limit market adoption if foralumab is approved [inferred from context].
What to watch
- Topline data from Phase 2a INFORM-MS trial in na-SPMS, expected in October 2026 [news · published 2026-09-21].
- Initial data from Phase 2a trials in Multiple System Atrophy (MSA) and Amyotrophic Lateral Sclerosis (ALS) [catalyst].
- Any updates on preclinical or clinical data for intranasal foralumab in long COVID [news · published 2026-04-16].
- Financial updates, including cash position and any financing activities, as the company has no approved products.
Sources: Catalysts · News · Generated October 2, 2026 · How we verify sources →
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Evidence & data
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
32
Total value held
$3.7M
| Holder | Shares | Value |
|---|---|---|
| dauntless investment group, llc | 2,165,231 | $2.5M |
| marshall wace, llp | 157,566 | $184K |
| zhang financial llc | 111,900 | $131K |
| ubs group ag | 95,700 | $112K |
| focus partners wealth | 79,365 | $93K |
| geode capital management, llc | 78,204 | $91K |
| goldman sachs group inc | 75,660 | $89K |
| hsbc holdings plc | 62,437 | $76K |
| morgan stanley | 52,156 | $61K |
| ewa, llc | 45,948 | $54K |
Showing top 10 of 32 institutional holders of Tiziana Life Sciences Ltd. Open the full 13F history after sign-in.
Short Interest
as of Apr 20, 2026- % of float
- 1.7%
- Days to cover
- 10.0
- Shares short
- 1,456,539
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
TLSA short interestFrequently asked questions
What is the AI investment thesis for Tiziana Life Sciences Ltd?
Tiziana Life Sciences Ltd is a biotechnology company developing intranasal foralumab, a fully human anti-CD3 monoclonal antibody, for immunomodulation in neurodegenerative and inflammatory diseases, with its lead program in non-active Secondary Progressive Multiple Sclerosis (na-SPMS).
Who is the CEO of Tiziana Life Sciences Ltd?
Dr. Ivor R. Elrifi Ph.D. is the chief executive officer of Tiziana Life Sciences Ltd (TLSA).
Where is Tiziana Life Sciences Ltd headquartered?
Tiziana Life Sciences Ltd (TLSA) is headquartered in London, United Kingdom.
What therapeutic areas does Tiziana Life Sciences Ltd focus on?
Tiziana Life Sciences Ltd develops therapies across Neurology, Immunology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.