Form 4: BiomX Inc. Insider Filing: Deerfield Funds Convert Preferred Stock to Common Shares

Deerfield Private Design Fund V, L.P. and Deerfield Healthcare Innovations Fund II, L.P. converted Series X Preferred Stock into 5,883,000 shares of Common Stock each on July 15, 2024.

Summary

• On July 15, 2024, Deerfield Private Design Fund V, L.P. and Deerfield Healthcare Innovations Fund II, L.P. each converted 5,883 shares of Series X Non-Voting Convertible Preferred Stock into 5,883,000 shares of BiomX Inc. Common Stock.
• The conversion was executed in accordance with the Certificate of Designation governing the Series X Preferred Stock.
• James E. Flynn, a director by deputization, is associated with Deerfield Management Company, L.P., Deerfield Mgmt V, L.P., Deerfield Mgmt HIF II, L.P., Deerfield Private Design Fund V, L.P., and Deerfield Healthcare Innovations Fund II, L.P., all of which are reporting persons in this filing.
• Following the transaction, the funds indirectly hold 8,938,049 shares of Common Stock each.
• The reporting persons disclaim beneficial ownership of the securities except to the extent of their indirect pecuniary interest.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing related to stock conversion. It doesn't inherently convey strong positive or negative sentiment, but the conversion to common stock could be seen as a mildly positive signal.

Industry Context

This filing reflects a conversion of preferred stock to common stock, a common financial maneuver. The conversion by Deerfield, a significant investor, could be interpreted as a sign of confidence in BiomX's future prospects, as it increases their holdings of common stock.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting changes in beneficial ownership by insiders in publicly traded companies.
• The conversion of preferred stock to common stock is a common financial transaction, often seen in companies with venture capital or private equity backing.
• Deerfield Management is a well-known healthcare investment firm, and their investment activities are closely watched by the market.

Key Dates