Foresite Capital Fund IV, L.P. 4

What Happened

• Foresite Capital Management IV, LLC (reported as a 10% owner) reported multiple transactions on Feb 4, 2026. The filing shows an open‑market purchase of 55,555 shares at $18.00 each for $999,990. In addition, the filing lists numerous non‑cash "conversion of derivative security" entries: about 4,041,687 shares were reported as acquired via conversion and about 30,142,109 shares were reported as disposed via conversion (all at $0.00), for a net reported decrease of 26,044,867 shares.
• The $18 open‑market purchase is a straightforward cash buy (bullish signal for that specific line). The many zero‑price "C" entries are conversions of derivative securities (non‑cash) — see footnote F1 explaining prior preferred stock conversion mechanics — and do not reflect open‑market sales for cash.

Key Details

• Transaction date: Feb 4, 2026; Form 4 filed Feb 6, 2026 (timely).
• Prices and totals: Open market purchase 55,555 shares @ $18.00 = $999,990. Conversion entries reported at $0.00 (non‑cash).
• Net reported change (acquired minus disposed): -26,044,867 shares.
• Shares owned after transaction: Not specified in the provided filing summary (see original Form 4 for post‑transaction holdings).
• Notable footnotes: F1 describes automatic conversion of various preferred shares into common stock (conversion ratio ~0.1340878). F2–F5 note shares are held by Foresite investment funds; Foresite Capital Management entities are GPs and James B. Tananbaum may be deemed to have voting/dispositive power. The reporting person disclaims being part of a "group" and disclaims beneficial ownership of fund‑held shares except to the extent of pecuniary interest.
• Filing timeliness: Filed within two business days (timely).

Context

• These filings are from an institutional 10% owner (fund/GPS structure), not an individual executive; institutional conversions and internal transfers are common and can reflect fund mechanics rather than a trading view.
• "Conversion of derivative security" entries are non‑cash events (not open‑market sales or purchases). The one cash purchase (55,555 shares at $18) is the clearest direct buy signal in this filing.
• For full details (exact post‑transaction holdings and rationale), consult the complete Form 4 and related disclosures.