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Trellus Health PLC
(LSE:TRLS)
Trellus Health PLC (TRLS) vs. iShares MSCI United Kingdom ETF (EWC)
Trellus Health PLC Business Overview & Revenue Model
Trellus Health PLC Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 359.00K | 114.00K | 19.00K | 18.00K | 25.00K | 0.00 |
| Gross Profit | 359.00K | 114.00K | 19.00K | 18.00K | 25.00K | 0.00 |
| EBITDA | -6.93M | -7.16M | -6.50M | -8.27M | -5.87M | -1.52M |
| Net Income | -6.89M | -7.78M | -6.34M | -8.81M | -5.90M | -1.52M |
Balance Sheet | ||||||
| Total Assets | 9.22M | 12.14M | 20.29M | 25.91M | 36.80M | 4.37M |
| Cash, Cash Equivalents and Short-Term Investments | 1.57M | 4.34M | 12.17M | 19.09M | 31.98M | 3.68M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 513.00K | 371.00K | 786.00K | 822.00K | 1.52M | 122.00K |
| Stockholders Equity | 8.71M | 11.77M | 19.50M | 25.09M | 35.27M | 4.25M |
Cash Flow | ||||||
| Free Cash Flow | -6.16M | -7.86M | -7.63M | -11.53M | -8.49M | -1.32M |
| Operating Cash Flow | -6.16M | -7.32M | -5.27M | -8.62M | -4.77M | -1.30M |
| Investing Cash Flow | -291.00K | -540.00K | -2.35M | -2.91M | -3.72M | -1.35M |
| Financing Cash Flow | 0.00 | 0.00 | 0.00 | 0.00 | 38.52M | 10.02M |
Trellus Health PLC Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | £38.99M | -13.46 | 10.86% | ― | ― | ― | |
52 Neutral | £18.39M | -3.33 | -58.72% | ― | -30.77% | -6.97% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | £664.43K | -0.12 | -56.95% | ― | ― | ― | |
51 Neutral | £7.23M | -7.18 | -15.57% | ― | 13.32% | 55.07% | |
45 Neutral | £19.46M | -7.52 | -58.27% | ― | 37.39% | -126.19% | |
44 Neutral | £11.36M | -0.47 | 425.97% | ― | -4.48% | 61.09% |
Trellus Health PLC Corporate Events
Trellus Health plc has issued 16,438,845 new ordinary shares following the conversion of £50,000 in principal under the second tranche of its secured convertible loan notes. The issuance was slightly scaled back to offset previously over-allotted shares linked to a commitment fee for Alumni Capital LLC, leaving the new shares representing about 0.2% of the company’s capital and deemed not material.
Application has been made for the new shares to be admitted to trading on AIM, with admission expected around 13 March 2026. Following admission, Trellus Health will have 241,612,340 ordinary shares in issue, a figure that establishes the updated base for calculating shareholder voting rights and regulatory disclosure thresholds under FCA transparency rules.
The most recent analyst rating on (GB:TRLS) stock is a Hold with a £0.74 price target. To see the full list of analyst forecasts on Trellus Health PLC stock, see the GB:TRLS Stock Forecast page.
Trellus Health plc has issued 16,438,845 new ordinary shares following the conversion of £50,000 of principal from the second tranche of its secured convertible loan notes, with the issuance slightly reduced to offset an earlier over-allotment to Alumni Capital LLC. The new shares, which represent around 0.2% of the company’s issued share capital, are not considered material, but will lift total voting rights to 241,612,340 once admission to trading on AIM is expected to become effective around 13 March 2026, providing an updated reference point for shareholder disclosure thresholds under FCA rules.
The most recent analyst rating on (GB:TRLS) stock is a Hold with a £0.74 price target. To see the full list of analyst forecasts on Trellus Health PLC stock, see the GB:TRLS Stock Forecast page.
Trellus Health has issued 16,454,134 new ordinary shares following the conversion of £50,000 of principal under the second tranche of its secured convertible loan notes. The new shares are expected to be admitted to trading on AIM around 5 March 2026, increasing the company’s issued share capital and total voting rights to 225,173,495 ordinary shares, a figure shareholders can use to assess disclosure thresholds under FCA rules.
The conversion modestly reduces the company’s outstanding loan note debt while marginally diluting existing shareholders through the expanded equity base. The updated share count clarifies Trellus Health’s capital structure and provides a new reference point for investors monitoring changes in significant shareholdings and corporate control metrics.
The most recent analyst rating on (GB:TRLS) stock is a Hold with a £0.74 price target. To see the full list of analyst forecasts on Trellus Health PLC stock, see the GB:TRLS Stock Forecast page.
Trellus Health has converted approximately £65,000 of principal and accrued interest from its secured convertible loan notes into 16,804,593 new ordinary shares, completing the conversion of its first tranche notes. The new shares are expected to begin trading on AIM around 25 February 2026, increasing the company’s issued share capital to 208,719,361 ordinary shares and setting a new base for shareholders’ voting-rights calculations under UK disclosure rules.
The enlarged share capital following admission clarifies the company’s capital structure and may modestly reduce its debt burden by eliminating the converted notes. The updated total voting rights figure will be used by investors to assess whether they must disclose holdings or changes in their interests, improving transparency around significant shareholdings in Trellus Health.
The most recent analyst rating on (GB:TRLS) stock is a Hold with a £0.74 price target. To see the full list of analyst forecasts on Trellus Health PLC stock, see the GB:TRLS Stock Forecast page.
Trellus Health has secured a six-month extension to its contract with Johnson & Johnson Health Care Systems to mid-2026, maintaining existing economic terms to provide its Trellus Elevate platform to IBD patients prescribed J&J therapies. The extension follows strong engagement and satisfaction metrics and broader patient access routes, underscoring growing pharmaceutical confidence in Trellus’s digital support model.
Alongside this, Trellus is rolling out its TrialSet offering with CROs ICON and PSI across multiple mid- and late-stage immunology and inflammation trials sponsored by Takeda and Sanofi, expanding its role across the clinical-to-commercial lifecycle. Despite modest 2025 revenues and ongoing funding needs, including a recently approved £5m convertible facility, the board believes contract wins and CRO deployments are improving recurring revenue visibility and strengthening its pharma-focused go-to-market strategy through 2026.
The most recent analyst rating on (GB:TRLS) stock is a Hold with a £0.74 price target. To see the full list of analyst forecasts on Trellus Health PLC stock, see the GB:TRLS Stock Forecast page.
Trellus Health plc has issued 5,637,205 new ordinary shares following the conversion of £21,000 of principal under its secured convertible loan notes, in line with shareholder approvals granted in January. The new shares are expected to be admitted to trading on AIM around 19 February 2026, modestly diluting existing holders but strengthening the company’s equity base.
Following admission, Trellus Health will have 191,914,768 ordinary shares in issue and no shares held in treasury, establishing this figure as the new denominator for calculating voting rights disclosures. The updated capital structure provides investors and regulators with a clear reference point for monitoring ownership changes under the FCA’s disclosure and transparency rules.
The most recent analyst rating on (GB:TRLS) stock is a Hold with a £0.74 price target. To see the full list of analyst forecasts on Trellus Health PLC stock, see the GB:TRLS Stock Forecast page.
Trellus Health has issued 5,538,461 new ordinary shares following the conversion of £27,000 of principal under its secured convertible loan notes, a move that modestly expands its equity base. The new shares are expected to be admitted to trading on AIM around 12 February 2026, taking the company’s total voting rights to 186,277,563 and providing an updated denominator for shareholders’ disclosure obligations under UK transparency rules.
The transaction reflects the ongoing utilisation of Trellus Health’s previously announced financing structure, with a small portion of debt transitioning into equity. While the amount raised is limited, the conversion reduces outstanding loan note principal and may incrementally strengthen the balance sheet, with implications for existing shareholders’ ownership percentages and for the company’s capital structure flexibility.
The most recent analyst rating on (GB:TRLS) stock is a Hold with a £0.74 price target. To see the full list of analyst forecasts on Trellus Health PLC stock, see the GB:TRLS Stock Forecast page.
Trellus Health reported ongoing operational progress across its key verticals, particularly in clinical trials, where it signed 12‑month contracts with global CROs ICON and PSI to deploy its Trellus TrialSet™ solution in Takeda- and Sanofi-sponsored immunology and inflammation studies, and maintained its support of an AstraZeneca Phase 2 IBD trial. The company also advanced pharmaceutical and patient support programmes, including continued collaboration with Johnson & Johnson Health Care Systems and a renewed content licensing deal with Pfizer, while broadening enrolment channels and exploring further expansion. Trellus is enhancing its platforms, making TrialSet™ condition-agnostic and upgrading Trellus Elevate®, alongside data protection and compliance work, which strengthens its positioning as a scalable digital health partner for pharma and CROs. Financially, Trellus expects 2025 revenue of about $545,000, has reduced monthly cash burn to roughly $400,000, and has drawn on a £5 million convertible facility with Alumni Capital, extending its cash runway into late Q1 2026 as the board pursues additional funding and seeks to convert growing clinical and commercial validation into broader market adoption.
The most recent analyst rating on (GB:TRLS) stock is a Hold with a £0.96 price target. To see the full list of analyst forecasts on Trellus Health PLC stock, see the GB:TRLS Stock Forecast page.
Trellus Health plc has issued 19,230,769 new ordinary shares in lieu of cash payment for settlement fees related to its secured convertible loan notes, following shareholder approval at a recent general meeting. The new shares are expected to be admitted to trading on AIM around 2 February 2026, taking the company’s total shares in issue to 180,739,102, which will also represent the total voting rights, and modestly diluting existing shareholders while strengthening the company’s capital position by conserving cash.
The most recent analyst rating on (GB:TRLS) stock is a Hold with a £1.00 price target. To see the full list of analyst forecasts on Trellus Health PLC stock, see the GB:TRLS Stock Forecast page.
Trellus Health plc announced that all resolutions put to shareholders at its General Meeting on 20 January 2026 were duly passed on a poll, with each motion receiving more than 99.8% of votes cast in favour. The strong shareholder support provides the company with the necessary corporate approvals to continue executing its strategy around its Trellus Elevate® digital platform and broader value-based chronic care offering, reinforcing its operational flexibility and governance backing as it pursues growth in the chronic disease management market.
The most recent analyst rating on (GB:TRLS) stock is a Sell with a £0.38 price target. To see the full list of analyst forecasts on Trellus Health PLC stock, see the GB:TRLS Stock Forecast page.
Trellus Health has granted options over 807,541 ordinary shares to its chairman, Kevin Murphy, under the company’s existing share option plan at an exercise price of 0.525p, matching the pricing of a recent loan note arrangement with Mount Sinai. The options vest in 12 equal quarterly instalments over approximately 39 months and are subject to standard lock-in and leaver provisions; the independent directors say the award is fair and reasonable and is intended to align the chairman’s incentives closely with those of shareholders, signalling continued emphasis on governance and long-term value creation as the company pursues its chronic-condition management strategy.
The most recent analyst rating on (GB:TRLS) stock is a Sell with a £0.38 price target. To see the full list of analyst forecasts on Trellus Health PLC stock, see the GB:TRLS Stock Forecast page.
Trellus Health plans to raise up to £5 million via a 12‑month secured convertible loan note facility from an institutional investor, with warrants attached and funds available in staged tranches, subject to shareholder approval at a general meeting on 20 January 2026. The financing is designed to extend the company’s cash runway, with the first two tranches expected to fund operations until late Q1 2026, support ongoing commercial initiatives and partnership discussions, and provide flexibility over the timing and scale of capital drawdowns, but the board warns that failure to secure shareholder backing or alternative funding would likely result in the company ceasing to be a going concern and entering administration.