SCHEDULE: AIGH Capital Reports 4.9% Stake in Kiora Pharmaceuticals

AIGH Capital Management and Orin Hirschman disclose a 4.9% beneficial ownership stake in Kiora Pharmaceuticals, Inc. as of December 31, 2025.

Summary

• Orin Hirschman and AIGH Capital Management LLC, along with AIGH Investment Partners, L.L.C., are jointly filing an Amendment No. 2 to Schedule 13G regarding their beneficial ownership in Kiora Pharmaceuticals, Inc.
• The reporting persons collectively beneficially own 192,984 shares of Kiora Pharmaceuticals' Common Stock, representing 4.9% of the class.
• This ownership includes 192,984 common shares issuable upon the exercise of warrants.
• An additional 514,134 common shares issuable upon warrant exercise are excluded from the reported beneficial ownership due to beneficial ownership limitations on exercise.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. It is a routine disclosure of beneficial ownership and does not contain information that inherently suggests a positive or negative outlook for the company's operations or financial performance.

Positives

• AIGH Capital Management and Orin Hirschman's continued beneficial ownership indicates ongoing investor interest in Kiora Pharmaceuticals, Inc.

Negatives

• The reported beneficial ownership of 4.9% is below the 5% threshold, which could indicate a reduction in stake or a strategic decision to remain below the reporting threshold for certain regulatory requirements.

Risks

• NA

Future Outlook

NA

Industry Context

StockSavvy.ai notes that beneficial ownership disclosures like this Schedule 13G provide transparency into significant investor holdings, which can signal confidence or strategic positioning by institutional investors or prominent individuals in the biotechnology and pharmaceutical sectors. While this filing reports a stake below the 5% threshold, it updates previous disclosures, indicating ongoing monitoring and adjustment of positions by AIGH Capital Management in Kiora Pharmaceuticals.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant investor holdings, confirming continued interest from AIGH Capital Management and Orin Hirschman, albeit at a level below 5%.

Key Dates

Keywords

Kiora Pharmaceuticals, AIGH Capital Management, Orin Hirschman, Beneficial Ownership, Schedule 13G, Common Stock, Warrants, Investment, Pharmaceuticals