UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. __)*
PIERIS PHARMACEUTICALS, INC.
(Name of Issuer)
Common
Stock, $0.001 par value
(Title of Class of Securities)
720795202
(CUSIP Number)
July 24, 2024
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which
this Schedule is filed:
x
Rule 13d-1(b)
¨
Rule 13d-1(c)
¨ Rule 13d-1(d)
*The remainder of this cover page shall be
filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent
amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this
cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934
(“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
SCHEDULE 13G
1 |
Names of reporting persons |
ADAR1 Capital Management, LLC |
2 |
Check the appropriate box if a member of a group (see instructions) |
(a) ¨
(b) ¨ |
3 |
SEC use only |
|
4 |
Citizenship or place of organization |
Texas |
Number of
shares
beneficially
owned by each
reporting
person with: |
5 |
Sole voting power |
0 |
6 |
Shared voting power |
138,641 |
7 |
Sole dispositive power |
0 |
8 |
Shared dispositive power |
138,641 |
9 |
Aggregate amount beneficially owned by each reporting person |
138,641
|
10 |
Check if the aggregate amount in Row (9) excludes certain shares (see instructions) |
¨ |
11 |
Percent of class represented by amount in Row (9) |
10.50% |
12 |
Type of reporting person (see instructions) |
IA |
SCHEDULE 13G
1 |
Names of reporting persons |
ADAR1 Capital Management GP, LLC |
2 |
Check the appropriate box if a member of a group (see instructions) |
(a) ¨
(b) ¨ |
3 |
SEC use only |
|
4 |
Citizenship or place of organization |
Texas |
Number of
shares
beneficially
owned by each reporting
person with: |
5 |
Sole voting power |
0 |
6 |
Shared voting power |
138,641 |
7 |
Sole dispositive power |
0 |
8 |
Shared dispositive power |
138,641 |
9 |
Aggregate amount beneficially owned by each reporting person |
138,641 |
10 |
Check if the aggregate amount in Row (9) excludes certain shares (see instructions) |
¨ |
11 |
Percent of class represented by amount in Row (9) |
10.50% |
12 |
Type of reporting person (see instructions) |
OO |
SCHEDULE 13G
1 |
Names of reporting persons |
Daniel Schneeberger |
2 |
Check the appropriate box if a member of a group (see instructions) |
(a) ¨
(b) ¨ |
3 |
SEC use only |
|
4 |
Citizenship or place of organization |
Switzerland |
Number of
shares
beneficially
owned by each reporting
person with: |
5 |
Sole voting power |
0 |
6 |
Shared voting power |
138,641 |
7 |
Sole dispositive power |
0 |
8 |
Shared dispositive power |
138,641 |
9 |
Aggregate amount beneficially owned by each reporting person |
138,641 |
10 |
Check if the aggregate amount in Row (9) excludes certain shares (see instructions) |
¨ |
11 |
Percent of class represented by amount in Row (9) |
10.50% |
12 |
Type of reporting person (see instructions) |
IN |
Item 1(a) |
Name of issuer: |
Pieris Pharmaceuticals, Inc. (the “Issuer”)
Item 1(b) |
Address of issuer’s principal executive offices: |
225 Franklin Street, 26th Floor, Boston,
Massachusetts 02110
Item 2(a) |
Name of person filing: |
This Statement is being filed
on behalf of each of the following persons (each, a “Reporting Person” and collectively, the “Reporting
Persons”)
|
i) |
ADAR1 Capital Management, LLC (“ADAR1 Capital Management”); |
|
ii) |
ADAR1 Capital Management GP, LLC (“ADAR1 General Partner”); and |
|
iii) |
Daniel Schneeberger (“Mr. Schneeberger”); |
This Statement relates to
Shares (as defined herein) held for the accounts of ADAR1 Partners, LP (“ADAR1 Partners”) and Spearhead Insurance
Solutions IDF, LLC – Series ADAR1 (“Spearhead”). ADAR1 Capital Management acts as investment manager to, and manages investment and trading accounts of ADAR1 Partners. ADAR1 Capital Management,
pursuant to an investment sub-advisory agreement, acts as the subadvisor for Spearhead and manages and controls the trading accounts for
Spearhead. ADAR1 General Partner serves as the general partner of
ADAR1 Partners, and Mr. Schneeberger is the sole member of ADAR1 Capital Management and ADAR1 General Partner. As such, each of ADAR1
Capital Management, ADAR1 General Partner and Mr. Schneeberger may be deemed the indirect beneficial owner of securities held by
ADAR1 Partners and Spearhead.
Each Reporting Person declares
that neither the filing of this Statement nor anything herein shall be construed as an admission that such person is, for the purposes
of Section 13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act) with any
other person as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities
of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any syndicate or group
with respect to the Issuer or any securities of the Issuer.
Item 2(b) |
Address or principal business office or, if none, residence: |
The address of the principal business office of
each of the Reporting Persons is 3503 Wild Cherry Drive, Building 9, Austin, Texas 78738.
|
i) |
ADAR1 Capital Management is a Texas limited liability company; |
| ii) | ADAR1
General Partner is a Texas limited liability company; and |
| iii) | Mr.Schneeberger is a citizen of Switzerland. |
Item 2(d) |
Title of Class of Securities: |
Common Stock, $0.001 par value per
share (the “Shares”)
720795202
Item 3. |
If this statement is filed pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a: |
|
(a) |
¨ Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o); |
|
|
|
|
(b) |
¨ Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); |
|
|
|
|
(c) |
¨ Insurance company defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); |
|
|
|
|
(d) |
¨ Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); |
|
|
|
|
(e) |
xAn investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E); |
|
|
|
|
(f) |
¨ An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F); |
|
|
|
|
(g) |
¨ A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G); |
|
|
|
|
(h) |
¨ A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); |
|
|
|
|
(i) |
¨ A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (15 U.S.C. 80a-3); |
|
|
|
|
(j) |
¨ A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J); |
|
|
|
|
(k) |
¨ Group, in accordance with § 240.13d-1(b)(1)(ii)(K). |
If filing as a non-U.S. institution in accordance
with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution: ______________.
(a) |
Amount Beneficially Owned: |
As of the date hereof, each
of the Reporting Persons may be deemed the beneficial owner of 138,641 Shares. This includes 124,331 Shares held for the account of ADAR1
Partners and 14,310 Shares held for the account of Spearhead.
As
of the date hereof, each of the Reporting Persons may be deemed the beneficial owner of approximately 10.50% of the Shares outstanding,
based on 1,320,240 Shares outstanding as of May 9, 2024, according to the Issuer’s Form 10-K Annual Report, filed
on May 15, 2024.
(c) |
Number of shares as to which such person has: |
As of the date hereof, for each of
the Reporting Persons:
|
(i) |
Sole power to vote or to direct the vote: 0 |
|
(ii) |
Shared power to vote or to direct the vote: 138,641 |
|
(iii) |
Sole power to dispose or to direct the disposition of: 0 |
|
(iv) |
Shared power to dispose or to direct the disposition of: 138,641 |
Item 5. |
Ownership of Five Percent or Less of a Class. |
Not applicable.
Item 6. |
Ownership of More than Five Percent on Behalf of Another Person. |
See disclosures in Items
2 and 4 hereof. ADAR1 Partners and Spearhead is known to have the right to receive or the power to direct the receipt of dividends
from, or the proceeds from the sale of, more than 5 percent of the Shares covered by this Statement that may be deemed to be
beneficially owned by the Reporting Persons.
Item 7. |
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. |
Not applicable.
Item 8. |
Identification and Classification of Members of the Group. |
Not applicable.
Item 9. |
Notice of Dissolution of Group. |
Not applicable.
By
signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired
and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely
in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set forth in this Statement is true, complete and correct.
Dated: August 1, 2024
ADAR1 CAPITAL MANAGEMENT, LLC |
|
/s/ Daniel Schneeberger |
|
Manager of ADAR1 Capital Management, LLC |
|
ADAR1 CAPITAL MANAGEMENT GP, LLC |
|
/s/ Daniel Schneeberger |
|
Manager of ADAR1 Capital Management GP, LLC |
|
DANIEL SCHNEEBERGER |
|
/s/ Daniel Schneeberger |
|
EXHIBIT INDEX
EXHBIIT A
JOINT FILING AGREEMENT
The undersigned hereby agree
that the statement on Schedule 13G with respect to the shares of common stock, no par value, of Pieris Pharmaceuticals, Inc. dated
as of August 1, 2024 is, and any amendments thereto signed by each of the undersigned shall be, filed on behalf of each of us pursuant
to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.
ADAR1 CAPITAL MANAGEMENT, LLC |
|
|
|
/s/ Daniel Schneeberger |
|
Manager of ADAR1 Capital Management, LLC |
|
ADAR1 CAPITAL MANAGEMENT GP, LLC |
|
|
|
/s/ Daniel Schneeberger |
|
Manager of ADAR1 Capital Management GP, LLC |
|
DANIEL SCHNEEBERGER |
|
|
|
/s/ Daniel Schneeberger |
|
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