Monitor for prospectus supplements indicating actual takedowns — the first drawdown is likely within weeks given the widening loss and going-concern language. Any ATM or follow-on offering below $7-8/share would be highly dilutive relative to the $7.91 reference price.
Price Chart
Executive Summary
Niki BioSolutions filed a $75M universal shelf registration statement on Form S-3, replacing its prior F-3 shelf after redomesticating from Cayman Islands to Delaware. The filing is a routine capital-raising mechanism with no immediate dilution—no securities are being sold today. However, the company's net loss widened to $1.33M in H1 2026 from $0.44M in H1 2025, and the auditor's going-concern opinion on both Niki and its DiamiR subsidiary signals financial stress, making future drawdowns likely.
Key Financial Metrics
Key Facts
- Shelf registration for up to $75M in common stock, preferred stock, warrants, subscription rights, debt securities, and units.
- Net loss available to common shareholders was $1,326,004 for H1 2026 vs $441,780 for H1 2025 — a 200% increase.
- Weighted average shares outstanding (post-reverse split) fell to 814,375 in H1 2026 from 712,679 in H1 2025.
- Auditor's report on both Niki and DiamiR financial statements contains a going-concern explanatory paragraph.
- Public float was $20.4M as of August 25, 2026, limiting primary offerings to ~$6.8M per 12-month period under I.B.6 of Form S-3.
- No securities have been sold under the prior F-3 shelf, and none are being sold in this filing.
Financial Impact
Potential dilution of up to ~$75M over time, but near-term primary offerings capped at ~$6.8M (1/3 of $20.4M public float). Net loss doubled to $1.33M in H1 2026.
Risk Factors
- Dilution from future shelf takedowns
- Going-concern risk flagged by auditors
- Widening net losses with no revenue disclosed
- Low public float ($20.4M) limits offering size but increases per-offering dilution impact
Market Snapshot
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| S-3 Filing (Primary) | 0001213900-26-094595 |
| Document: 0001213900-26-094595-index.html | 0001213900-26-094595 |
| Document: 0001213900-26-094595.txt | 0001213900-26-094595 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 13, 2026 13d ago | EFFECT | $2.63 $2.03 | ▲ +22.67% | ▲ +21.52% | $1.91 (+27.24%) |
Oct 2, 2026 23d ago | S-3/A | $4.73 $3.02 | ▲ +36.13% | ▲ +36.55% | $1.91 (+59.61%) |
Sep 25, 2026 4w ago | Press Release | $4.76 $4.60 | ▼ −3.36% | ▼ −3.14% | $1.91 (−59.87%) |
Sep 18, 2026 5w ago | S-3/A | $4.97 $4.70 | ▲ +5.43% | ▲ +4.41% | $1.91 (+61.57%) |
Aug 27, 2026 8w ago | S-3 | $6.90 $6.20 | ▲ +10.14% | ▲ +10.25% | $1.91 (+72.32%) |
Aug 7, 2026 11w ago | 8-K | $8.62 $8.26 | ▼ −4.18% | ▼ −4.13% | $1.91 (−77.84%) |
US Market Status
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