Redmile Group Adjusts Shattuck Labs Stake

TL;DR

Redmile Group filed an amendment on their Shattuck Labs stake. Watch for potential moves.

AI Summary

On December 4, 2024, Redmile Group, LLC, through its affiliate Redmile Biophar Ma Investments II, L.P., filed an amendment to its Schedule 13D, reporting a change in beneficial ownership of Shattuck Labs, Inc. The filing indicates a shift in their stake, though specific new ownership percentages or dollar amounts are not detailed in this excerpt.

Why It Matters

This filing signals a potential change in investment strategy or conviction by a significant shareholder in Shattuck Labs, which could influence the stock's trading activity.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership by large investors can indicate shifts in market sentiment or company outlook, posing a medium risk to investors.

Key Players & Entities

• Redmile Group, LLC (company) — Filing entity
• Shattuck Labs, Inc. (company) — Subject company
• Redmile Biophar Ma Investments II, L.P. (company) — Affiliate of filing entity
• Jeremy C. Green (person) — Group member
• Jennifer Ciresi (person) — Authorized contact

FAQ

Key Financial Figures

• $0.0001 — me of Issuer) Common Stock, par value $0.0001 per share (Title of Class of Securiti
• $1.25 — rice per share of the Common Shares was $1.25 per share. The source of funds for the

Filing Documents

• tm2430374d1_sc13da.htm (SC 13D/A) — 70KB
• 0001104659-24-126423.txt ( ) — 72KB

Source and Amount of Funds or Other Consideration

ITEM 3. Source and Amount of Funds or Other Consideration.

of the Prior Schedule 13D is hereby amended

Item 3 of the Prior Schedule 13D is hereby amended and supplemented by adding the following paragraph immediately after the last paragraph of Item 3: On December 4, 2024, certain private investment vehicles managed by Redmile, including Redmile Biopharma Investments II, L.P. (“RBI II” and collectively with the other private investment vehicles managed by Redmile, the “Redmile Clients”), engaged in cross trades with respect to 1, 026,888 shares of Common Stock. RBI II also purchased 133,371 shares of Common Stock and certain other Redmile Clients sold 133,371 shares of the Issuer’s Common Stock, in each case, concurrently with the cross trades at the same price. The reported transactions occurred simultaneously, at which time the price per share of the Common Shares was $1.25 per share. The source of funds for the concurrent purchases of Common Stock by RBI II was the working capital of RBI II. For the avoidance of doubt, the reported transactions resulted in no realized profit to Redmile or Jeremy Green and the cross trades and other transactions resulted in no change to the aggregate beneficial ownership of Redmile or Mr. Green.

Interest in Securities of the Issuer

ITEM 5. Interest in Securities of the Issuer.

of the Prior Schedule 13D is hereby amended

Item 5 of the Prior Schedule 13D is hereby amended and restated in its entirety as follows: (a) The aggregate amount of shares of Common Stock that may be deemed beneficially owned by the Reporting Persons is comprised of the following: (i) 456,784 shares of Common Stock held by Redmile Capital Fund, L.P., (ii) 494,932 shares of Common Stock held by Redmile Capital Offshore Master Fund, Ltd., (iii) 374,149 shares of Common Stock held by Redmile Capital Offshore II Master Fund, Ltd., (iv) 301,022 shares of Common Stock and a Warrant (as defined below) to purchase 1,233,414 shares of Common Stock held by Redmile Strategic Long Only Trading Sub, Ltd., (v) 467,910 shares of Common Stock and a Warrant to purchase 316,997 shares of Common Stock held by Redmile Strategic Trading Sub, Ltd., (vi) 3,338,997 shares of Common Stock and a Warrant to purchase 1,550,412 shares of Common Stock held by Redmile Biopharma Investments II, L.P., and (vii) 105,930 shares of Common Stock held by RedCo I, L.P. Redmile is the investment manager/adviser to each of the Redmile Clients listed in items (i) through (vii) and, in such capacity, exercises voting and investment power over all of the securities held by the Redmile Clients and may be deemed to be the beneficial owner of these securities. Jeremy C. Green serves as the managing member of Redmile and also may be deemed to be the beneficial owner of these shares. Redmile and Mr. Green each disclaim beneficial ownership of these securities, except to the extent of its or his pecuniary interest in such shares, if any. Green may be deemed to beneficially own the 3,100,823 shares of Common Stock issuable upon exercise of certain pre-funded warrants to purchase Common Stock (the “Warrants”) described in the preceding paragraph. Pursuant to the terms of the Warrants, the Common Stock that may be acquired upon exercise of the Warrants shall be limited

View Full Filing

View this SC 13D/A filing on SEC EDGAR