Island Pharmaceuticals (ASX:ILA) has strengthened its financial position, announcing that directors and substantial shareholders have exercised more than 14.4 million options, delivering just over $1 million in new capital to support the company’s antiviral development programs.
The company, which is advancing antiviral candidates for high-priority viral threats, confirmed the funds were contributed by key backers including Chairman Jason Carroll, Non-Executive Director Chris Ntoumenopoulos, and major shareholders Dr Daniel Tillett and MWP Partners.
The additional capital builds on Island’s $6.9 million cash balance reported at 30 September 2025, strengthening the company’s runway as it accelerates development of its lead antiviral, galidesivir, under the US FDA’s Animal Rule pathway. The company is positioning galidesivir for potential inclusion in the US Strategic National Stockpile.
CEO and Managing Director Dr David Foster said the option exercise reflects growing confidence in Island’s direction and the global relevance of its antiviral platform.
“This support from our Board and substantial shareholders is another positive endorsement of Island’s strategy, progress and the significant value potential of Galidesivir,” Dr Foster said. “With a clear regulatory path, Priority Review Voucher eligibility, and increasing engagement across the US biodefence ecosystem, Island is now exceptionally well positioned to progress toward potential approval and inclusion in the US Government’s Strategic National Stockpile.”
Island Pharmaceuticals continues to advance two key programs. ISLA-101, being repurposed for mosquito-borne diseases such as dengue fever, and galidesivir, a broad-spectrum antiviral active against more than 20 RNA viruses, including Ebola, Marburg, MERS, Zika and Yellow Fever.