Dilution profile // every instrument, one screen, from SEC filings

VACCINEX, INC. (VCNX)

CIK 1205922 · all EDGAR filings →

Overall dilution risk
HIGHworst of 3 computed sub-ratings (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
not every sub-rating was computable; treat as a floor
Offering ability
HIGHS-3 on file 2024-10-16
= is there a registration (S-1/S-3 family) on file without a later withdrawal
no structured fee data on the live registrations, so this is a yes/no, not a size
Overhead supply
NOT COMPUTEDno warrant count tagged in XBRL
= warrant shares outstanding divided by current shares outstanding
absence of a tag is not proof of absence of warrants
Historical dilution
LOW-94% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
a reverse-split-sized cliff is in this window; read the chart
Cash need
HIGH~0.8 months of runway
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2019-05-102025-04-11

Latest: 2.7M shares as of Apr 11, 2025 (10-K).

⊙
EVIDENCE — filed/published fact
SourceSEC XBRL, cover-page share count
Fielddei:EntityCommonStockSharesOutstanding
As of2025-04-11
HowThe newest cover-page count as filed. It is used as the current count only while it is no more than about 15 months older than the company’s newest periodic filing; the float checker applies a 200-day rule and sets it beside the balance-sheet count.
Open the source document →
Share count fell from 12.5M to 1.2M between Nov 8, 2023 and Mar 22, 2024, a pattern consistent with a reverse split (roughly 1-for-10); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

~1 month of cash left

critical · burning $4.0M / quarter

Full breakdown: cash runway tool · source filing →

Warrants

TrancheWarrantsExercise priceTermNotes
New Warrants1.6M$5.636——
Existing Warrants1.1M$5.636——
Pre Funded Warrants584,646not tagged——
Public Warrants542,857not tagged5y—
Common Warrants193,000$14——
Pre Funded Warrants and Public Warrants142,857not tagged——
Common Warrants Two142,857not tagged——
Common and Pre Funded Warrants90,363not tagged——
Private Placement Warrants37,694not tagged5y—

Tranches exactly as the company dimensioned them in its 10-K filed Apr 15, 2025 →. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.

No warrant figures tagged in this filer’s XBRL facts. That means the company has not reported them in structured form; it does not prove no warrants exist. The exhibits are the ground truth.

Convertible notes

No convertible-note facts tagged in the 10-K filed Apr 15, 2025. If convertible notes exist, their terms live in exhibit prose for this filer and are not parsed; absence of a tag is not proof of absence. The exhibits are the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding2.7MApr 11, 2025
+ New Warrants (if exercised)1.6MSep 17, 2024
+ Existing Warrants (if exercised)1.1MSep 17, 2024
+ Pre Funded Warrants (if exercised)584,646Nov 13, 2024
+ Public Warrants (if exercised)542,857Oct 3, 2023
+ Common Warrants (if exercised)193,000Mar 27, 2024
+ Pre Funded Warrants and Public Warrants (if exercised)142,857Oct 3, 2023
+ Common Warrants Two (if exercised)142,857Oct 3, 2023
+ Common and Pre Funded Warrants (if exercised)90,363Feb 6, 2024
+ Private Placement Warrants (if exercised)37,694Nov 30, 2023
Fully diluted estimate7.1M+164.5% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

S-3Oct 16, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →
S-3Jun 27, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →
S-3Apr 26, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 0 executed · 0 registered.

EFFECTIVEMar 25, 2025SEC declared a registration effective — selling can beginEFFECT →
EFFECTIVEMar 25, 2025SEC declared a registration effective — selling can beginEFFECT →
EFFECTIVEMar 25, 2025SEC declared a registration effective — selling can beginEFFECT →
EFFECTIVEMar 25, 2025SEC declared a registration effective — selling can beginEFFECT →
EFFECTIVEMar 25, 2025SEC declared a registration effective — selling can beginEFFECT →
EFFECTIVEMar 25, 2025SEC declared a registration effective — selling can beginEFFECT →
EFFECTIVEMar 25, 2025SEC declared a registration effective — selling can beginEFFECT →
EFFECTIVEMar 25, 2025SEC declared a registration effective — selling can beginEFFECT →
EFFECTIVEMar 25, 2025SEC declared a registration effective — selling can beginEFFECT →
EFFECTIVEMar 25, 2025SEC declared a registration effective — selling can beginEFFECT →
EFFECTIVEMar 25, 2025SEC declared a registration effective — selling can beginEFFECT →
EFFECTIVEMar 25, 2025SEC declared a registration effective — selling can beginEFFECT →

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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