Perceptive Advisors LLC and related entities filed Amendment No. 9 to a Schedule 13D with the SEC on October 26, 2026, disclosing updated beneficial ownership positions in LeonaBio, Inc. following a distribution of pre-funded warrants to Perceptive Xontogeny Venture Fund II, LP.

Key Highlights

  • Warrant distribution: On October 26, 2026, Perceptive Xontogeny Venture Fund II, LP received Sermonix Pre-Funded Warrants exercisable for 2,352,932 shares of LeonaBio common stock.
  • Ownership cap: According to the filing, the Sermonix Pre-Funded Warrants are not exercisable to the extent that exercise would result in beneficial ownership exceeding 19.99% of LeonaBio's outstanding common stock.
  • Perceptive Advisors and Joseph Edelman aggregate stake: Each reports shared voting and dispositive power over 1,889,403 shares, representing 19.99% of the class.
  • Master Fund position: Perceptive Life Sciences Master Fund, Ltd. reports shared voting and dispositive power over 1,559,647 shares, or 16.5% of the class.
  • Venture Fund II position: Perceptive Xontogeny Venture Fund II, LP reports shared voting and dispositive power over 359,837 shares, or 3.8% of the class.
  • Source of the event: The filing states the warrants were received "pursuant to the previously disclosed distribution of securities to owners of Sermonix's common stock."

Perceptive Entities Report Stake and Warrant Receipt in LeonaBio

The Schedule 13D amendment covers four reporting persons: Perceptive Advisors LLC, a Delaware-organized investment adviser; Joseph Edelman, a United States citizen and Managing Member of Perceptive Advisors; Perceptive Life Sciences Master Fund, Ltd., organized in the Cayman Islands; and Perceptive Xontogeny Venture Fund II, LP, organized in Delaware. The filing was triggered by a transaction occurring on October 26, 2026, according to the document's cover page.

The central disclosure in Item 5 is that Perceptive Xontogeny Venture Fund II, LP received Sermonix Pre-Funded Warrants exercisable for 2,352,932 shares of LeonaBio common stock. The filing notes these warrants were received through a distribution to owners of Sermonix's common stock, characterizing the event as previously disclosed. The warrants carry a 19.99% beneficial ownership cap that limits exercisability. LeonaBio common stock has a par value of $0.0001 per share, and the issuer's principal executive offices are located at 18706 North Creek Parkway, Suite 104, Bothell, Washington 98011, per the filing.

On the cover page schedules, Perceptive Advisors LLC and Joseph Edelman each report zero sole voting power and zero sole dispositive power, with shared voting and shared dispositive power of 1,889,403 shares apiece, representing 19.99% of the class. Perceptive Life Sciences Master Fund, Ltd. reports shared voting and dispositive power over 1,559,647 shares, equal to 16.5% of the class. Perceptive Xontogeny Venture Fund II, LP reports shared voting and dispositive power over 359,837 shares, equal to 3.8% of the class. The source of funds is listed as "AF" for Perceptive Advisors and Joseph Edelman, and "WC" for both fund entities.

What Was Disclosed

This amendment discloses that Perceptive Xontogeny Venture Fund II, LP received pre-funded warrants for 2,352,932 LeonaBio shares via a Sermonix securities distribution on October 26, 2026, and updates aggregate beneficial ownership figures for all four reporting persons.