Sphera Funds Mgmt Amends ProMIS Neurosciences Stake
Ticker: PMN · Form: SC 13G/A · Filed: Feb 5, 2024
Sentiment: neutral
Topics: institutional-ownership, amendment, healthcare, investor-update
TL;DR
**Sphera Funds Management updated their stake in ProMIS Neurosciences, watch for potential stock movement.**
AI Summary
Sphera Funds Management Ltd., an Israeli investment firm, has filed an amended SC 13G/A, indicating a change in their beneficial ownership of ProMIS Neurosciences Inc. common shares as of December 31, 2023. This filing updates their previous disclosure, signaling that their stake in the pharmaceutical company has either increased or decreased, or their filing status has changed. For investors, this matters because significant changes in institutional ownership can influence stock price and signal confidence (or lack thereof) in the company's future prospects.
Why It Matters
Changes in institutional ownership can signal shifts in market sentiment towards ProMIS Neurosciences Inc., potentially impacting its stock price and investor confidence.
Risk Assessment
Risk Level: low — This filing is a routine update on institutional ownership and doesn't inherently indicate high risk, though changes in ownership can influence stock volatility.
Analyst Insight
A smart investor would monitor ProMIS Neurosciences Inc.'s stock performance and look for further disclosures from Sphera Funds Management Ltd. or other institutional investors to understand the full implications of this ownership change.
Key Players & Entities
- Sphera Funds Management Ltd. (company) — the reporting person filing the SC 13G/A
- ProMIS Neurosciences Inc. (company) — the subject company whose securities are being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- Israel (company) — place of organization for Sphera Funds Management Ltd.
- SPHERA GLOBAL HEALTHCARE GP LTD. (company) — a group member associated with the filing
Forward-Looking Statements
- ProMIS Neurosciences Inc. stock may experience increased trading volume in the short term due to investor reaction to the updated institutional ownership. (ProMIS Neurosciences Inc.) — medium confidence, target: 2024-03-05
FAQ
What type of securities are being reported in this SC 13G/A filing?
The filing reports on 'Common Shares, no par value per share' of ProMIS Neurosciences Inc.
Who is the reporting person making this amendment?
The reporting person is Sphera Funds Management Ltd., based in Israel.
What is the CUSIP number for ProMIS Neurosciences Inc. securities?
The CUSIP number for ProMIS Neurosciences Inc. common shares is 74346M406.
What was the date of the event that triggered this SC 13G/A filing?
The date of the event which required the filing of this statement was December 31, 2023.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(c), as indicated by the checked box in the filing.
Filing Stats: 1,587 words · 6 min read · ~5 pages · Grade level 13.2 · Accepted 2024-02-05 09:10:36
Filing Documents
- zk2430877.htm (SC 13G/A) — 90KB
- 0001178913-24-000359.txt ( ) — 92KB
(a)
Item 1. (a) Name of Issuer : ProMIS Neurosciences Inc. (b) Address of Issuer's Principal Executive Offices : Suite 200, 1920 Yonge Street, Toronto, Ontario M4S 3E2
(a)
Item 2. (a) Name of Person Filing : Sphera Funds Management Ltd. Sphera Global Healthcare GP Ltd. Sphera Global Healthcare Management LP (b) Address of Principal Business Office : Sphera Funds Management Ltd. – 4 Itzak Sade, Building A, 29 th Floor, Tel Aviv 6777504, Israel Sphera Global Healthcare GP Ltd. – 4 Itzak Sade, Building A, 29 th Floor, Tel Aviv 6777504, Israel Sphera Global Healthcare Management LP – 4 Itzak Sade, Building A, 29 th Floor, Tel Aviv 6777504, Israel (c) Citizenship : Sphera Funds Management Ltd. – Israel Sphera Global Healthcare GP Ltd. – Israel Sphera Global Healthcare Management LP – Israel (d) Title of Class of Securities : Common Shares, no par value per share (e) CUSIP Number : 74346M406 Item 3 . Not applicable. Item 4 . (a) Amount beneficially owned : See row 9 of cover page of each reporting person. 5 The securities reported herein by Sphera Funds Management Ltd., Sphera Global Healthcare GP Ltd. and Sphera Global Healthcare Management LP are beneficially owned as follows: 372,340 Common Shares representing a total of 1.97% of the total Common Shares outstanding are held directly by Sphera Global Healthcare Master Fund, which has delegated its investment management authority to Sphera Global Healthcare Management LP (the " Management Company "). 1,461,702 Common Shares and 58,432 pre-funded warrants, with each warrant currently exercisable into one Common Share, together representing a total of 8.02% of the total Common Shares outstanding, are held directly by Sphera Biotech Master Fund, L.P., which has delegated its investment management authority to the Management Company. The Management Company is managed, controlled, and operated by its general partner, Sphera Global Healthcare GP Ltd., the shares of which are owned 90% by Sphera Funds Management Ltd. This Statement shall not be construed as an admission by any of the Reporting Persons that it is the beneficial owner of