Latigo Biotherapeutics (LTGO) 10% Owner Foresite Capital Acquires Shares

What Happened

• Foresite Capital Management V, LLC (reported as a 10% owner via affiliated funds) acquired 140,000 shares of Latigo Biotherapeutics (LTGO) in an open-market purchase on 2026-08-10 at $18.00 per share for $2,520,000.
• The filing also reports multiple conversions of derivative securities (preferred stock and a convertible note) into common stock on 2026-08-10 at no additional cash consideration. Reported conversion share amounts include, for example, 3,117,664; 445,320; 1,125,823; 742,201; 296,880; and 195,776 shares (conversion price shown as $0 or N/A per footnotes).

Key Details

• Transaction date: 2026-08-10. Open-market purchase: 140,000 shares @ $18.00 = $2,520,000.
• Derivative conversions: multiple automatic conversions of preferred stock and conversion of a convertible note into common shares upon the company’s IPO (no cash paid on conversion).
• Footnotes: F1 notes preferred stock converted automatically 1:1 at IPO with no further consideration; F5 describes a convertible note that converted into common stock at the IPO price (maturity June 17, 2027). F2–F4 explain the shares are held of record by various Foresite funds and that Foresite entities and James B. Tananbaum may be deemed to have voting/dispositive power.
• Shares owned after the transactions are not specified in the provided extract.
• Filing timeliness: the report was filed with the same report and transaction date (no late filing indicated in the provided data).

Context

• These entries reflect institutional activity by Foresite-affiliated funds (a reported 10% owner), not an individual executive trade. The large zero-cost entries are conversions of pre-IPO preferred shares and a convertible note into common stock as described in the footnotes — essentially a corporate-structure conversion, not a cash exercise. The open-market purchase (140k shares for $2.52M) is a direct cash purchase and is the clearest bullish signal in this filing.