SCHEDULE: Samsara BioCapital Divests Leap Therapeutics Stake

Samsara BioCapital, L.P. and its affiliates have reported a complete divestment of their beneficial ownership in Leap Therapeutics, Inc. common stock.

Summary

• Samsara BioCapital, L.P., Samsara BioCapital GP, LLC, and Srinivas Akkaraju (collectively, the "Reporting Persons") have filed an Amendment No. 1 to their Schedule 13G.
• As of June 30, 2025, the Reporting Persons beneficially own 0.00 shares of Leap Therapeutics, Inc. common stock.
• This represents 0.0% of the class of securities.
• The Reporting Persons expressly disclaim status as a "group" for purposes of this Schedule 13G.
• The filing certifies that the securities were not acquired or held for the purpose of changing or influencing the control of Leap Therapeutics, Inc.

Sentiment

Score: 3

Explanation: The complete divestment by a significant institutional investor is a negative signal, suggesting a lack of confidence or a strategic shift away from the company. This could lead to negative market perception.

Negatives

• Samsara BioCapital, L.P., a significant institutional investor, has fully divested its beneficial ownership in Leap Therapeutics, Inc. common stock, reducing its stake to 0.0%.
• The complete divestment by a venture capital firm specializing in biotechnology could signal a loss of confidence or a strategic shift away from the company.

Risks

• The complete divestment by a major institutional investor like Samsara BioCapital could lead to negative market perception and potential downward pressure on Leap Therapeutics' stock price.
• Loss of institutional support may impact future capital raising efforts or investor sentiment.

Future Outlook

NA

Management Comments

• By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

Industry Context

This filing reflects a change in institutional investment within the biotechnology sector. Such divestments by venture capital firms can occur for various reasons, including portfolio rebalancing, realization of gains/losses, or a change in outlook regarding the investee company's prospects or strategic direction. It's a common occurrence in the dynamic biotech investment landscape.

Stakeholder Impact

• Shareholders: Existing shareholders may experience negative sentiment and potential downward pressure on the stock price due to the divestment by a significant institutional investor.
• Potential Investors: May view the complete divestment as a red flag, potentially deterring new investment.

Key Dates

Recommendation

The complete divestment by a significant institutional investor like Samsara BioCapital is a notable negative signal, suggesting a loss of confidence or a strategic portfolio shift. While this alone doesn't warrant a "sell" recommendation without broader financial context, it certainly removes a key institutional backer and introduces uncertainty, making a "hold" recommendation prudent for existing investors and caution for potential new investors.

Keywords

Leap Therapeutics, Samsara BioCapital, Schedule 13G, Beneficial Ownership, Institutional Investor, Biotechnology, Divestment, Common Stock