Soleus Capital Group, LLC 4

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.