SCHEDULE: Ikarian Capital Discloses 4.99% Forte Biosciences Stake
Beneficial Ownership Report (Schedule 13G)
Ikarian Capital and Neil Shahrestani have reported a 4.99% beneficial ownership stake in Forte Biosciences, Inc., including shares from warrants.
Summary
- Ikarian Capital, LLC and Neil Shahrestani jointly reported a 4.99% beneficial ownership stake in Forte Biosciences, Inc. Common Stock.
- The aggregate amount beneficially owned by the Reporting Persons is 617,667 shares.
- This total includes 141,224 shares of Common Stock that may be acquired within 60 days through the exercise of warrants.
- The beneficial ownership percentage is calculated based on 12,353,341 total outstanding shares of Common Stock.
- This outstanding share count includes the 141,224 warrant shares and 12,212,117 shares outstanding following a registered offering that closed on June 26, 2025.
Sentiment
Score: 5
Explanation: This is a factual disclosure of beneficial ownership and does not inherently convey positive or negative sentiment regarding the company's performance or outlook.
Positives
- NA
Negatives
- NA
Risks
- The exercise of warrants is subject to restrictions, preventing the Reporting Persons' beneficial ownership from exceeding 4.99% of the outstanding Common Stock upon conversion.
Future Outlook
NA
Management Comments
- NA
Industry Context
NA
Comparison to Industry Standards
- NA
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| NA | NA | NA | NA | This filing does not report management changes. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| NA | This filing does not report changes in corporate governance. | NA | NA |
Legal Proceedings
- NA
Related Party Transactions
- NA
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant beneficial ownership stake held by an investment firm and its principal, which can influence market perception and trading activity.
Next Steps
- NA
Key Dates
| Date | Description |
|---|---|
| 2025-06-25 | Prospectus Supplement filed with the SEC disclosing the registered offering of Common Stock. |
| 2025-06-26 | Closing of the registered offering of 5,630,450 shares of Common Stock. |
| 2025-06-30 | Date of event which required the filing of this statement (reporting period end date). |
| 2025-08-14 | Filing date of the Schedule 13G Amendment No. 1. |
Keywords
Forte Biosciences, Ikarian Capital, Neil Shahrestani, Schedule 13G, beneficial ownership, common stock, warrants, investment adviser, biotechnology
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