SCHEDULE: Frazier Life Sciences Updates Palvella Stake

Frazier Life Sciences funds updated their beneficial ownership in Palvella Therapeutics, Inc., collectively holding approximately 6.5% of common stock.

Summary

• Collectively, the Frazier Life Sciences reporting entities beneficially own 722,400 shares of Palvella Therapeutics, Inc. common stock.
• This collective ownership represents approximately 6.5% of the total 11,055,665 shares of common stock outstanding as of May 9, 2025.
• Frazier Life Sciences Public Fund, L.P. (FLSPF) and its related entities beneficially own 545,504 shares, representing 4.9% of the common stock.
• Frazier Life Sciences Public Overage Fund, L.P. (FLSPOF) and its related entities beneficially own 160,856 shares, representing 1.5% of the common stock.
• Frazier Life Sciences X, L.P. (FLS X) and its related entities beneficially own 4,730 shares, representing 0.0% of the common stock.
• Frazier Life Sciences XI, L.P. (FLS XI) and its related entities beneficially own 7,517 shares, representing 0.1% of the common stock.
• Frazier Life Sciences XII, L.P. and its related entities beneficially own 3,793 shares, representing 0.0% of the common stock.
• The reported beneficial ownership amounts do not include certain prefunded warrants, which are subject to beneficial ownership limitations.
• The filing corrects previous attribution to, and overstatement of beneficial ownership by, certain individual members of the reporting entities.

Sentiment

Score: 5

Explanation: A Schedule 13G filing is a routine disclosure of beneficial ownership and typically does not carry strong positive or negative sentiment unless it indicates an activist stake or significant divestment, neither of which is present here. The correction of previous attribution errors is a minor positive for data accuracy.

Positives

• The filing clarifies and corrects previous beneficial ownership attributions, enhancing reporting accuracy.
• The reporting persons explicitly state that the securities are not held for the purpose of changing or influencing control of the issuer.

Risks

• The beneficial ownership of certain prefunded warrants is subject to limitations, meaning they cannot be exercised if it would cause the holder's aggregate beneficial ownership to exceed 4.99% of outstanding common stock.

Future Outlook

NA

Industry Context

This filing is a routine disclosure of beneficial ownership by institutional investors in a publicly traded company, common within the financial industry for transparency regarding significant stakes.

Stakeholder Impact

• Shareholders: Provides transparency on significant institutional ownership and clarifies previous reporting regarding beneficial ownership attribution.

Key Dates

Keywords

Palvella Therapeutics, Frazier Life Sciences, Beneficial Ownership, SEC Filing, Schedule 13G, Common Stock, Institutional Ownership, Investment Fund