SCHEDULE 13G/A: Perceptive Entities Disclose 6.7% Passive Stake in Outset Medical, Inc.

Perceptive Advisors LLC and its affiliates, including Joseph Edelman, have filed an amended Schedule 13G, reporting a 6.7% beneficial ownership stake in Outset Medical, Inc., comprising 1,208,334 shares.

Summary

• The filing is an Amendment No. 1 to Schedule 13G, reporting beneficial ownership of common stock in Outset Medical, Inc. (Issuer).
• The Reporting Persons are Perceptive Advisors LLC, Joseph Edelman, Perceptive Credit Advisors, LLC, and Perceptive Credit Holdings IV, LP.
• The aggregate amount beneficially owned by each Reporting Person is 1,208,334 shares of Outset Medical, Inc. Common Stock.
• This ownership represents 6.7% of the class, based on 17,722,310 shares of Common Stock outstanding as of May 2, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed on May 8, 2025.
• The ownership includes 833,334 shares directly held by Perceptive Credit Holdings IV, LP (the Credit Fund) and warrants to purchase an additional 375,000 shares of Common Stock.
• The warrants cannot be exercised if the Reporting Persons' beneficial ownership would exceed 9.99% of the Issuer's outstanding Common Stock after such exercise.
• All Reporting Persons share both voting and dispositive power over the 1,208,334 shares.
• The securities were acquired and are held for investment purposes and not for the purpose of changing or influencing the control of the Issuer.

Sentiment

Score: 5

Explanation: The document is a standard regulatory compliance filing (Schedule 13G) reporting beneficial ownership. It is neutral in tone and content, providing factual information about an investment stake without implying positive or negative operational or financial outcomes for the company.

Positives

• The disclosure of a significant institutional investor's stake provides transparency regarding the company's ownership structure.
• The filing explicitly states the investment is passive and not for the purpose of changing or influencing control, which can provide stability.

Future Outlook

The document is a regulatory filing detailing current beneficial ownership and does not provide any forward-looking statements or guidance regarding the Issuer's future performance or strategic outlook.

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 indicates a significant investment by Perceptive Advisors, a prominent investment firm specializing in the healthcare sector, into Outset Medical, Inc., a medical device company. This reflects ongoing institutional interest in the healthcare technology and medical device industry.

Stakeholder Impact

• Shareholders: Provides transparency regarding the ownership structure of Outset Medical, Inc., showing a significant stake held by a reputable institutional investor group.

Key Dates

Keywords

Outset Medical, OM, Perceptive Advisors, Joseph Edelman, Perceptive Credit, Schedule 13G, Beneficial Ownership, Common Stock, Medical Devices, Healthcare Investment