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TrivarX Limited
(OTC:TRI)
TrivarX Limited (TRI) vs. iShares MSCI Australia ETF (EWA)
TrivarX Limited Business Overview & Revenue Model
TrivarX Limited Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 0.00 | 0.00 | 0.00 |
| Gross Profit | -52.47K | -52.47K | 0.00 |
| EBITDA | -1.89M | -1.89M | -1.13M |
| Net Income | -943.23K | -943.23K | -1.24M |
Balance Sheet | |||
| Total Assets | 13.48M | 13.48M | 10.81M |
| Cash, Cash Equivalents and Short-Term Investments | 1.25M | 1.25M | 848.10K |
| Total Debt | 169.03K | 169.03K | 15.90K |
| Total Liabilities | 831.22K | 831.22K | 1.18M |
| Stockholders Equity | 12.65M | 12.65M | 9.88M |
Cash Flow | |||
| Free Cash Flow | -189.74K | -189.74K | -3.70M |
| Operating Cash Flow | -189.74K | -189.74K | 0.00 |
| Investing Cash Flow | -2.09M | -2.09M | -2.85M |
| Financing Cash Flow | 2.68M | 2.68M | 4.32M |
TrivarX Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
44 Neutral | AU$9.51M | -0.97 | ― | ― | -40.05% | -49.57% | |
44 Neutral | AU$13.68M | -4.58 | ― | ― | 241.34% | 44.19% | |
43 Neutral | AU$21.92M | -10.00 | -8.06% | ― | ― | ― | |
41 Neutral | AU$4.70M | -5.37 | ― | ― | -9.90% | 34.07% | |
35 Underperform | AU$7.80M | -1.57 | ― | ― | -67.78% | 37.78% |
TrivarX Limited Corporate Events
TrivarX Limited has announced a change to its board, with director John Mathias ceasing to serve as a director effective 31 December 2025. At the time of his departure, Mathias held 2.5 million options in TrivarX, expiring in December 2028 at an exercise price of $0.025, as well as a beneficial interest in 84,850 fully paid ordinary shares held through National Financial Services, and no interests in relevant contracts were disclosed, providing investors with clarity on his residual exposure to the company following his exit.
FIL Limited and its associated entities have notified TrivarX Limited that they have ceased to be a substantial holder in the company as of 19 December 2025, in accordance with substantial shareholding disclosure requirements. Following recent transactions, FIL’s holding in TrivarX stands at 42,502,362 common shares, representing 3.68% of the company’s voting power, indicating a reduction below the substantial shareholder threshold and signalling a shift in the company’s institutional investor base that may affect perceptions of its shareholder structure but does not alter control of the company.
TrivarX Limited has secured $3.5 million from the second tranche of a strategic placement, bolstering its balance sheet and giving it greater financial flexibility to advance its Stabl-Im imaging platform for brain tumour detection. The funds will support manufacturing scale-up, quality-control validation of stable isotope compounds, and regulatory pre-submission activities in the US and EU as the company moves Stabl-Im toward the clinic. Stabl-Im uses stable isotope labelling and standard MRI to safely and non-invasively visualise replicating tumour cells in the brain, potentially offering a breakthrough alternative to radiation-based or surgical methods. The work will be guided by experienced regulatory and medical consultants alongside Stabl-Im founder Dr Daniel Tillett, with a first-in-human Phase 1 trial planned for 2026 to assess safety, imaging precision and reproducibility in patients with confirmed brain tumours, laying the groundwork for broader multi-site trials and strengthening TrivarX’s position in advanced neuro-oncology diagnostics.
TrivarX Limited has disclosed a change in director David Trimboli’s indirect interest in the company’s securities via Seefeld Investments Pty Ltd, an entity through which he holds his stake. Following a tranche-two placement approved by shareholders at a general meeting on 12 December 2025, Seefeld Investments acquired 6,250,000 additional ordinary shares for $50,000, increasing Trimboli’s indirect holding to 25,881,639 ordinary shares alongside a substantial suite of options, signalling strengthened director alignment with shareholders and a modest capital injection to support the company’s ongoing funding needs.
TrivarX Limited has disclosed a significant increase in director Christopher Ntoumenopoulos’s equity exposure following shareholder-approved capital raisings and incentive issuances. The director, through direct holdings and indirectly via Sobol Capital Pty Ltd, has acquired 11.25 million new ordinary shares and 75 million long-dated options as part of a placement and as facilitation fees for services linked to TrivarX’s acquisition of Nucleics, materially lifting his stake and aligning his interests more closely with the company’s future performance.
TrivarX Limited has issued 437,725,337 new fully paid ordinary shares at $0.008 per share as part of a placement previously announced in October and approved by shareholders in December. The company has confirmed that these shares were issued without a prospectus under the Corporations Act disclosure exemptions, while affirming its ongoing compliance with financial reporting and continuous disclosure obligations and stating that there is no withheld price-sensitive information, providing investors with reassurance about transparency and regulatory adherence around the capital raising.
TrivarX Ltd has notified the market of a new issue of unquoted equity securities, comprising 20 million options exercisable at $0.015 and expiring on 19 December 2028. The options, which form part of a previously announced transaction and are not intended to be quoted on the ASX, signal an expansion of the company’s equity-based instruments that could affect future capital structure and potential dilution for existing shareholders if exercised.
TrivarX Ltd has applied to the ASX for quotation of 437,725,337 new fully paid ordinary shares under its ticker code TRI, expanding its listed securities on the exchange. The issuance, tied to previously flagged transactions, significantly increases the company’s quoted share base, which may affect its capital structure, liquidity, and ownership dynamics once the new shares commence trading on 19 December 2025.
TrivarX Limited reported positive results from a clinical trial evaluating its single-lead ECG algorithm designed to detect major depressive episodes (cMDE) in U.S. veterans. The trial, conducted in collaboration with the Greater Los Angeles Research and Education Foundation and the VA Greater Los Angeles Healthcare System, showcased the algorithm’s impressive sensitivity of 97%, underlining its potential to improve early detection of mental health conditions in veterans. The technology’s ability to integrate into existing clinical workflows supports efficient adoption and aligns with the VA’s priorities, strengthening TrivarX’s market position and paving the way for broader clinical and commercial opportunities.
TrivarX Limited announced the resignation of John Mathias as a non-executive director, effective December 31, 2025, as he plans to reduce his workload in preparation for retirement. His departure marks a significant change for the company, as he played a crucial role in promoting TrivarX’s technology to a broader market since joining the board in October 2024. The company continues to focus on its strategy to unlock value for shareholders.
TrivarX Limited has announced a change in the director’s interest in securities, specifically involving Tony Keating. The company has increased its holdings through Littles Brook Consulting Pty Ltd, acquiring 2,739,726 ordinary fully paid shares and 7,000,000 options expiring in December 2028. This change was approved by members at the AGM on November 21, 2025, and reflects a strategic move to align director compensation with company performance, potentially impacting shareholder value and market perception.
TrivarX Limited has announced a change in the director’s interest, specifically for Director John Mathias, who has acquired 2,500,000 options expiring on December 2, 2028, at an exercise price of $0.025. This acquisition, approved as incentive options at the AGM on November 21, 2025, reflects a strategic move to align the director’s interests with the company’s long-term goals, potentially impacting stakeholder confidence and market perception positively.
TrivarX Limited has announced a change in the interests of its director, David Trimboli, involving the acquisition of additional shares and options. The director’s indirect interest through Seefeld Investments Pty Ltd now includes 19,631,639 ordinary fully paid shares and various options with different expiration dates. This change was primarily due to the issuance of shares in lieu of director fees and incentive options approved at the company’s AGM, reflecting a strategic move to align director incentives with company performance.
TrivarX Limited has announced a change in the director’s interest, specifically involving Christopher Ntoumenopoulos. The change includes the acquisition of 2,739,726 ordinary fully paid shares and 7,000,000 options expiring in December 2028, which were issued as incentive options. This adjustment in holdings reflects a strategic move approved by members at the recent AGM, potentially impacting the company’s governance and aligning director interests with company performance.
TrivarX Limited has issued 8,767,123 ordinary fully paid shares at $0.0219 per share to settle outstanding director fees, as announced under section 708A of the Corporations Act. This move, authorized by the Board of Directors, indicates compliance with relevant legal provisions and suggests a strategic financial management approach, potentially impacting the company’s financial standing and stakeholder interests.
TrivarX Limited has announced the quotation of 8,767,123 fully paid ordinary securities on the Australian Securities Exchange (ASX), effective December 2, 2025. This move is part of previously announced transactions and is expected to bolster the company’s market position by increasing its liquidity and investor base.
TrivarX Limited held its Annual General Meeting where all resolutions were passed except for the Remuneration Report, which received a significant percentage of votes against it, marking the company’s first strike. The approval of the 7.1A Mandate as a special resolution indicates strategic operational decisions, which may impact the company’s future financial and market strategies.
TrivarX Limited has announced an update regarding its proposed issue of securities, correcting a typographical error in a previous document and confirming the date for a General Meeting. This announcement is significant as it clarifies the number of shares to be issued, ensuring transparency and accuracy for stakeholders involved in the securities placement.
TrivarX Limited has announced an update regarding the proposed issue of securities, specifically confirming the meeting date and updating the terms and conditions of unlisted options. This update is part of their ongoing communication with the ASX, following a previous announcement made in October 2025. The announcement is significant as it outlines the company’s commitment to transparency and regulatory compliance, potentially impacting its market operations and stakeholder confidence.
TrivarX Limited has announced a General Meeting to be held on December 12, 2025, where shareholders will vote on several key resolutions. These include the approval to issue Class A and B Performance Shares to Nucleics, ratification of prior issuance of Tranche 1 Placement Shares, and approval for further issuance of Tranche 2 Placement Shares. Additionally, the meeting will consider issuing Placement Shares to specific individuals, Chris Ntoumenopoulos and David Trimboli, as well as Lead Manager Options to JP Equity. These resolutions are significant as they aim to enhance the company’s capital structure and engage with professional investors, potentially impacting the company’s market position and stakeholder interests.
TrivarX Limited has exercised its option to acquire the Stabl-Im technology from Nucleics Pty Ltd, a novel brain imaging technology aimed at the early and safe detection of brain tumors. This acquisition, pending shareholder approval, represents a significant advancement in TrivarX’s diagnostic portfolio, potentially transforming brain cancer diagnostics by enabling earlier detection of tumor activity using stable isotope labeling detectable by MRI. The company plans to initiate a Phase 1 clinical trial in 2026, positioning itself at the forefront of precision imaging and expanding its influence in the oncology sector.
TrivarX Limited has made significant advancements in its clinical trial aimed at screening for major depressive episodes among veterans, in collaboration with the US Department of Veterans Affairs and GLAVREF. The trial, which uses TrivarX’s proprietary ECG-based technology, has shown promising interim results, reinforcing the company’s commitment to providing scalable mental health screening solutions. Additionally, TrivarX is expanding its diagnostic portfolio by acquiring the Stabl-Im IP, a transformative imaging technology for early brain tumor detection, marking a strategic move into the high-growth neuro-oncology market. This expansion is supported by a successful $4.2 million placement, indicating strong investor confidence in TrivarX’s strategic direction and technological capabilities.
TrivarX Limited has announced the issuance of 5,000,000 unlisted options expiring on October 29, 2027, at an exercise price of $0.025. These securities are part of an employee incentive scheme and are not intended to be quoted on the ASX, potentially impacting employee retention and motivation strategies.
TrivarX Limited has announced the issuance of 100,000 ordinary fully paid securities, which will be quoted on the Australian Securities Exchange (ASX) under the code TRI. This move is part of the company’s strategy to enhance its market presence and potentially increase liquidity for its shareholders.
TrivarX Limited has announced the issuance of 87,274,663 ordinary fully paid securities, which will be quoted on the Australian Securities Exchange (ASX) under the code TRI. This issuance is part of a transaction previously announced and is expected to enhance the company’s market presence and liquidity, potentially impacting its stakeholders positively.
TrivarX Limited has announced a proposed issue of securities, including 23.5 million unlisted options expiring in three years and over 21 million ordinary fully paid shares, with the issue date set for November 24, 2025. This move is part of a placement or other type of issue, potentially impacting the company’s financial structure and market positioning as it seeks to raise capital and enhance its operational capabilities.
TrivarX Limited has announced that its 2025 Annual General Meeting will be held in person at its registered office in Mount Lawley, Western Australia, on November 21, 2025. Shareholders are advised that the Notice of Meeting and Explanatory Statement are available online, and they will not receive hard copies unless previously requested. The company has provided details for proxy voting and contact information for shareholder queries. Any changes to the meeting arrangements will be communicated via the ASX and the company’s website.
TrivarX Limited has completed patient recruitment for its clinical trial in collaboration with the Greater Los Angeles Research and Education Foundation and US Veterans Affairs Greater Los Angeles Healthcare System. The trial evaluates a novel single-lead ECG algorithm to screen for major depressive episodes in veterans with suspected sleep apnea. The completion of recruitment, following promising interim results, marks a significant milestone in validating the algorithm as a scalable, non-invasive mental health assessment tool. The company anticipates that full trial results will be available later this quarter, which will inform discussions with regulatory agencies and commercial partners.
TrivarX Limited has announced a proposed issue of securities, consisting of 250 million Class A Performance Shares, 150 million unlisted options, and 500 million Class B Performance Shares, with the issue date set for December 18, 2025. This move is part of a placement or other type of issue, potentially impacting the company’s market operations and positioning within the industry by increasing its capital base and potentially enhancing its market reach.
TrivarX Limited has announced a proposed issuance of 87,274,663 ordinary fully paid securities, with the issuance date set for October 27, 2025. This move is part of a placement or other type of issue, as the company seeks to expand its capital base, potentially impacting its market positioning and stakeholder interests.
TrivarX Limited has announced its acquisition of the Stabl-Im technology from Nucleics Pty Ltd, aiming to transform neuro-oncology diagnostics with a novel approach for the early and safe detection of brain tumors. This acquisition aligns with TrivarX’s strategy to enhance its market position in the global neuro-oncology imaging market, which is expected to grow significantly. The technology offers a breakthrough in non-invasive imaging, addressing a large unmet clinical need and providing a unique opportunity for TrivarX to lead in the rapidly expanding sector.