SCHEDULE: PMGC Capital Exits Alaunos Therapeutics Position

PMGC Capital LLC and PMGC Holdings Inc. have fully divested their holdings in Alaunos Therapeutics, Inc. common stock.

Summary

• PMGC Capital LLC and PMGC Holdings Inc. (collectively, the "Reporting Persons") have filed an Amendment No. 1 to their Schedule 13D, indicating a complete divestment of their beneficial ownership in Alaunos Therapeutics, Inc. (the "Issuer").
• Between June 16, 2025, and August 22, 2025, PMGC LLC sold all of its Common Stock in the Issuer on the open market.
• The sales were executed at prices ranging from $1.92 to $4.53 per share.
• As of August 25, 2025, the settlement date for the final sales, the Reporting Persons no longer hold any shares of Alaunos Therapeutics, Inc. common stock.
• This filing serves as the final amendment and an exit filing for the Reporting Persons.

Sentiment

Score: 5

Explanation: The filing is neutral from the perspective of Alaunos Therapeutics, as it reports a past event (a shareholder's exit) without providing new operational or financial information about the company. For PMGC Capital, it represents the completion of an investment cycle.

Positives

• PMGC LLC successfully liquidated its entire position in Alaunos Therapeutics, Inc. over a period of approximately two months, indicating market liquidity for the shares.
• The sales occurred within a price range of $1.92 to $4.53, suggesting PMGC was able to realize value from its investment, potentially at a profit depending on its original acquisition cost.

Negatives

• The complete divestment by PMGC Capital LLC removes a significant institutional holder from Alaunos Therapeutics' shareholder base, which could be perceived negatively by some investors.
• The sale of shares by an investment firm might signal a lack of long-term conviction in the Issuer's future prospects from PMGC's perspective.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding Alaunos Therapeutics, Inc.'s future performance or PMGC Capital LLC's future investment plans.

Industry Context

This filing primarily reflects an investment firm's portfolio management decision rather than a direct operational or strategic update from Alaunos Therapeutics. Such divestments are common in the investment landscape as funds rebalance portfolios or realize gains/losses. The specific reasons for PMGC's exit are not disclosed, but it could be due to a change in investment strategy, reaching a target price, or reallocating capital to other opportunities.

Comparison to Industry Standards

• The sale of an entire position by an institutional investor is a standard practice in portfolio management, often driven by internal investment mandates, risk assessments, or rebalancing strategies.
• Without knowing PMGC's initial entry price or investment thesis, it is difficult to assess the performance of this specific investment relative to industry benchmarks for similar multi-strategy investment firms.

Legal Proceedings

• Neither PMGC LLC nor PMGC Holdings has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) during the last five years.
• Neither PMGC LLC nor PMGC Holdings has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction which resulted in a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws during the last five years.

Stakeholder Impact

• Shareholders of Alaunos Therapeutics, Inc. may note the departure of a significant institutional investor, which could lead to questions about the company's attractiveness to large funds.
• For PMGC Capital LLC's investors, this filing confirms the completion of an investment, allowing for capital reallocation.

Next Steps

• Alaunos Therapeutics, Inc. will continue its operations and report its financial and strategic updates in its regular SEC filings (e.g., 10-K, 10-Q).
• PMGC Capital LLC will continue its multi-strategy investment activities, with its focus shifting from Alaunos Therapeutics.

Key Dates

Keywords

Alaunos Therapeutics, PMGC Capital, PMGC Holdings, Schedule 13D/A, Stock Sale, Divestment, Beneficial Ownership, Biotechnology, Investment Firm