Soleus Capital Group, LLC 4
4 · Parabilis Medicines, Inc. · Filed Jun 29, 2026
Research Summary
AI-generated summary of this filing
Parabilis (PBLS) 10% Owner Guy Levy Buys $10M+ of Shares
What Happened
Guy Levy (reported as a 10% owner) made meaningful purchases and conversions in Parabilis Medicines (PBLS) on June 11, 2026. He purchased 375,000 shares and 125,000 shares in open-market or private transactions at $20.00 each (total = 500,000 shares for $10,000,000). Separately, 527,070 shares were acquired through conversion of a derivative at an implied value of $9.48 per share (reported value ≈ $4,996,624). The filing also notes a conversion of Series F preferred stock into common stock that occurred without payment of consideration.
Key Details
- Transaction date(s): 2026-06-11; Form 4 filed 2026-06-29 (appears later than the typical 2-business-day Form 4 deadline).
- Purchases: 375,000 shares @ $20.00 = $7,500,000; 125,000 shares @ $20.00 = $2,500,000 (total purchases = $10,000,000).
- Conversions: 527,070 shares acquired via conversion @ $9.48 (value ≈ $4,996,624); an additional 527,070-share conversion of Series F preferred stock into common stock was reported as having no cash consideration.
- Shares owned after transaction: not specified in the provided extract.
- Notable footnotes: holdings are primarily owned by Soleus-affiliated funds (Soleus Private Equity Fund III and Soleus Capital Master Fund); Guy Levy is the sole managing member of the related GP entities (F2–F4) and disclaims direct beneficial ownership except for Section 16 reporting purposes. F1 explains the Series F preferred converted automatically into common stock without payment.
- Filing timeliness: Form filed 6/29 for 6/11 transactions — investors should note the delayed filing and check the full SEC record for any explanations.
Context
These are purchases and conversions by a 10% institutional owner (Soleus-related entities) rather than routine insider sales by an executive; purchases are often interpreted as a stronger signal of confidence than sales, but this summary is factual and does not speculate on motive. The derivative entries reflect conversions (including an automatic preferred-to-common conversion with no cash paid), not an option exercise followed by an immediate sale.
Insider Transaction Report
- Purchase
Common Stock, par value $0.0001 per share
[F4]2026-06-11$20.00/sh+375,000$7,500,000→ 1,027,000 total(indirect: See footnote) - Purchase
Common Stock, par value $0.0001 per share
[F2][F3]2026-06-11$20.00/sh+125,000$2,500,000→ 652,000 total(indirect: See footnote) - Conversion
Common Stock, par value $0.0001 per share
[F2][F3]2026-06-11$9.48/sh+527,070$4,996,624→ 527,070 total(indirect: See footnote) - Conversion
Series F Preferred Stock
[F1][F2][F3]2026-06-11−527,070→ 0 total(indirect: See footnote)Exercise: $9.48→ Common Stock (527,070 underlying)
Footnotes (4)
- [F1]The Series F Preferred Stock automatically converted into shares of the common stock of the issuer immediately prior to the closing of the issuer's initial public offering without payment of consideration and had no expiration date.
- [F2]The reportable securities are owned directly by Soleus Private Equity Fund III, L.P. ("Soleus PE"). Soleus Private Equity GP III, LLC ("Soleus PE GP") is the sole general partner of Soleus PE, Soleus PE GP III, LLC is the sole manager of Soleus PE GP, Soleus Capital Management, L.P. ("SCM") is the investment manager for Soleus PE, and Soleus GP, LLC ("Soleus GP") is the sole general partner of SCM. Guy Levy is the sole managing member of each of Soleus PE GP III, LLC and Soleus GP.
- [F3]Each of Mr. Levy, Soleus PE GP III, LLC, Soleus PE GP, SCM and Soleus GP disclaims beneficial ownership of the securities held by Soleus PE other than for the purpose of determining their obligations under Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the filing of this report shall not be deemed an admission that any of the foregoing persons is the beneficial owner of such securities for any other purpose, except to the extent of their respective pecuniary interests therein.
- [F4]The reportable securities are owned directly by Soleus Capital Master Fund, L.P. ("MF"). Soleus Capital LLC is the sole general partner of MF, Soleus Capital Group, LLC ("SCG") is the sole managing member of Soleus Capital, LLC, SCM is the investment manager of MF, and Soleus GP is the sole general partner of SCM. Guy Levy is the sole managing member of each of SCG and Soleus GP. Each of Mr. Levy, SCG, Soleus Capital LLC, SCM and Soleus GP disclaims beneficial ownership of the securities held by MF other than for the purpose of determining their obligations under Section 16 of the Exchange Act, and the filing of this report shall not be deemed an admission that any of the foregoing persons is the beneficial owner of such securities for any other purpose, except to the extent of their respective pecuniary interests therein.