SCHEDULE 13G/A: Nantahala Capital Discloses 9.99% Stake in Kiora Pharma

Nantahala Capital Management, along with Wilmot B. Harkey and Daniel Mack, reported a 9.99% beneficial ownership stake in Kiora Pharmaceuticals, Inc. as of September 30, 2025.

Summary

• Nantahala Capital Management, LLC, Wilmot B. Harkey, and Daniel Mack (the "Reporting Persons") collectively reported beneficial ownership of 363,712 shares of Kiora Pharmaceuticals, Inc. common stock.
• This represents 9.99% of the total outstanding shares of Kiora Pharmaceuticals, Inc.
• The reported shares include 207,285 shares that may be acquired within sixty days through the exercise of warrants.
• The beneficial ownership is shared, with Nantahala Capital Management, Wilmot B. Harkey, and Daniel Mack each having shared voting and dispositive power over all 363,712 shares.
• Nantahala Capital Management is classified as an investment adviser, while Wilmot B. Harkey and Daniel Mack are classified as control persons.
• BLACKWELL PARTNERS LLC SERIES A, NANTAHALA CAPITAL PARTNERS LIMITED PARTNERSHIP, and NCP RFM LP, all funds advised by Nantahala, each have the right to receive or direct the receipt of dividends or proceeds from the sale of more than five percent of the outstanding common stock beneficially owned by Nantahala.

Sentiment

Score: 5

Explanation: This is a neutral, factual disclosure of beneficial ownership, not containing information that would inherently sway sentiment positively or negatively.

Future Outlook

NA

Industry Context

This filing indicates a significant institutional investment in Kiora Pharmaceuticals, a common occurrence in the biotechnology and pharmaceutical sectors where specialized funds often take substantial equity positions based on pipeline potential or strategic value.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake (9.99%) by Nantahala Capital Management and its principals may be viewed positively, signaling confidence in Kiora Pharmaceuticals. It could also imply potential for increased shareholder activism or influence on corporate decisions.

Key Dates

Keywords

Kiora Pharmaceuticals, Nantahala Capital Management, Beneficial Ownership, Schedule 13G, Common Stock, Investment Adviser, Warrants, Equity Stake