SCHEDULE 13G/A: Vestal Point Capital Discloses 6.2% Passive Stake in Nyxoah SA

Vestal Point Capital, LP and its Chief Investment Officer, Ryan Wilder, have disclosed a passive 6.2% beneficial ownership stake in Nyxoah SA, holding 2,318,954 ordinary shares.

Summary

• Vestal Point Capital, LP and Ryan Wilder have filed an Amendment No. 1 to Schedule 13G, reporting their beneficial ownership in Nyxoah SA.
• The reporting persons collectively own 2,318,954 ordinary shares of Nyxoah SA.
• This ownership represents 6.2% of Nyxoah SA's outstanding ordinary shares, calculated based on 37,427,265 shares outstanding as of March 19, 2025.
• Both Vestal Point Capital, LP (as investment manager) and Ryan Wilder (as Chief Investment Officer and Managing Partner) share voting and dispositive power over these shares.
• The filing certifies that the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 6

Explanation: Slightly positive. The disclosure of a significant passive stake by an investment firm can be interpreted as a vote of confidence in the company, although the filing itself is purely informational and regulatory.

Positives

• A significant stake (6.2%) held by an investment firm like Vestal Point Capital could signal confidence in Nyxoah SA's long-term prospects.
• The passive nature of the investment, as certified in the filing, suggests a non-activist, long-term holding strategy.

Future Outlook

The document does not provide any forward-looking statements or guidance from Nyxoah SA or the reporting persons regarding the company's future performance or strategic direction.

Management Comments

• The document does not contain any direct quotes or paraphrased statements from Nyxoah SA's management. The reporting persons certified that their acquisition and holding of shares are in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Industry Context

This Schedule 13G filing indicates a significant passive investment by Vestal Point Capital in Nyxoah SA, a company operating in the medical device sector, specifically focusing on sleep apnea solutions. Such filings are common for institutional investors accumulating stakes in publicly traded companies, reflecting their investment thesis within the broader healthcare and medical technology industry.

Comparison to Industry Standards

• This document is a standard beneficial ownership disclosure (Schedule 13G) and does not contain information that allows for a direct comparison of Nyxoah SA's operational or financial results against industry benchmarks or specific comparable companies/projects. It solely reports an investor's stake.

Stakeholder Impact

• Shareholders: The disclosure of a significant passive stake by an investment firm may be viewed positively, potentially signaling institutional confidence in the company's value.
• Employees, Customers, Suppliers, Creditors: The filing itself has no direct or immediate impact on these stakeholders, as it pertains solely to an investor's ownership stake and not the company's operations or financial health.

Key Dates

Keywords

Nyxoah SA, Vestal Point Capital, Ryan Wilder, Schedule 13G, beneficial ownership, passive investment, ordinary shares, medical device, sleep apnea