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[SCHEDULE 13G/A] Unicycive Therapeutics, Inc. SEC Filing

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13G/A
Rhea-AI Filing Summary

Biotechnology Value Fund and affiliated entities reported beneficial ownership positions in Unicycive Therapeutics (UNCY) as of June 30, 2025. The filing discloses adjusted holdings after a one-for-ten reverse stock split and extensive warrant positions that convert into Series A preferred stock and then into common shares subject to a 9.99% beneficial ownership limitation. Individual reported holdings: BVF 777,308 shares (~5.7%), BVF II 591,650 shares (~4.4%), Trading Fund OS 35,480 shares (<1%), and affiliated entities collectively up to 1,417,117 shares (~9.99%). The statement explains which warrant tranches (A, B, C) are exercisable, exercise-price relationships and that the Beneficial Ownership Limitation restricts conversion of some tranches (notably Tranche C).

Biotechnology Value Fund e soggetti collegati hanno dichiarato posizioni di proprietà beneficiaria in Unicycive Therapeutics (UNCY) alla data del 30 giugno 2025. La comunicazione riporta le partecipazioni rettificate in seguito a un raggruppamento azionario inverso di una azione ogni dieci e segnala consistenti posizioni in warrant che si convertono in azioni di Serie A di tipo preferenziale e successivamente in azioni ordinarie soggette a una limitazione di proprietà beneficiaria del 9,99%. Partecipazioni riportate per singolo soggetto: BVF 777.308 azioni (~5,7%), BVF II 591.650 azioni (~4,4%), Trading Fund OS 35.480 azioni (<1%) e soggetti collegati che complessivamente arrivano fino a 1.417.117 azioni (~9,99%). La nota specifica quali tranche di warrant (A, B, C) sono esercitabili, il rapporto tra prezzi di esercizio e azioni e che la Limitazione di Proprietà Beneficiaria impedisce la conversione di alcune tranche (in particolare la Tranche C).

Biotechnology Value Fund y entidades afiliadas informaron posiciones de propiedad beneficiaria en Unicycive Therapeutics (UNCY) al 30 de junio de 2025. la presentación divulga las tenencias ajustadas tras un reverse split de una por diez y amplias posiciones en warrants que se convierten en acciones preferentes Serie A y posteriormente en acciones ordinarias sujetas a una limitación de propiedad beneficiaria del 9,99%. Tenencias reportadas por entidad: BVF 777.308 acciones (~5,7%), BVF II 591.650 acciones (~4,4%), Trading Fund OS 35.480 acciones (<1%) y entidades afiliadas que en conjunto alcanzan hasta 1.417.117 acciones (~9,99%). La declaración explica qué tramos de warrants (A, B, C) son ejercitables, la relación de precios de ejercicio y que la Limitación de Propiedad Beneficiaria restringe la conversión de algunos tramos (notablemente el Tramo C).

Biotechnology Value Fund ë°� 계열사는 2025ë…� 6ì›� 30ì� 기준 Unicycive Therapeutics(UNCY)ì� 실질ì � 소유 ì§€ë¶„ì„ ë³´ê³ í–ˆìŠµë‹ˆë‹¤. 제출문서ëŠ� ì£¼ì‹ 10주당 1주로ì� 역병í•�(리버ìŠ� 스플ë¦�) ì´í›„ ì¡°ì •ë� 보유량과, 시리ì¦� A 우선주로 전환ë� í›� 9.99%ì� 실질 소유 í•œë„ ì ìš©ì� 받는 보통주로 추가 전환ë˜ëŠ” 대규모 워런íŠ� 보유ë¥� 공개합니ë‹�. 개별 ë³´ê³  보유내역: BVF 777,308ì£�(ì•� 5.7%), BVF II 591,650ì£�(ì•� 4.4%), Trading Fund OS 35,480ì£�(<1%), ë°� 계열사들ì� í•©ì‚°í•� 최대 1,417,117ì£�(ì•� 9.99%). 성명서는 ì–´ë–¤ 워런íŠ� 트랜ì¹�(A, B, C)ê°€ 행사 가능하ë©� 행사가ê²� 관계가 ì–´ë–»ê²� ë˜ëŠ”ì§€, 그리ê³� 실질 소유 한ë„ê°€ ì¼ë¶€ 트랜ì¹�(특히 C 트랜ì¹�)ì� 전환ì� 제한한다ëŠ� ì ì„ 설명합니ë‹�.

Biotechnology Value Fund et des entités affiliées ont déclaré des positions de propriété bénéficiaire dans Unicycive Therapeutics (UNCY) au 30 juin 2025. Le dépôt divulgue les avoirs ajustés après un regroupement d’actions inverse d’une pour dix et d’importantes positions en warrants qui se convertissent en actions privilégiées de série A puis en actions ordinaires soumises à une limite de propriété bénéficiaire de 9,99 %. Possessions déclarées par entité : BVF 777 308 actions (~5,7 %), BVF II 591 650 actions (~4,4 %), Trading Fund OS 35 480 actions (<1 %) et entités affiliées totalisant jusqu’� 1 417 117 actions (~9,99 %). La note précise quelles tranches de warrants (A, B, C) sont exerçables, les relations entre les prix d’exercice et les actions, et que la Limitation de Propriété Bénéficiaire restreint la conversion de certaines tranches (notamment la Tranche C).

Biotechnology Value Fund und verbundene Unternehmen meldeten am 30. Juni 2025 wirtschaftliche Eigentumspositionen an Unicycive Therapeutics (UNCY). Die Einreichung legt die nach einem 1-zu-10 Reverse-Split angepassten Bestände offen sowie umfangreiche Warrant-Positionen, die in Series-A-Vorzugsaktien und anschließend in Stammaktien umgewandelt werden, welche einer 9,99%-Beschränkung des wirtschaftlichen Eigentums unterliegen. Einzelangaben zu den gehaltenen Positionen: BVF 777.308 Aktien (~5,7%), BVF II 591.650 Aktien (~4,4%), Trading Fund OS 35.480 Aktien (<1%) und verbundene Gesellschaften gemeinsam bis zu 1.417.117 Aktien (~9,99%). Die Erklärung erläutert, welche Warrant-Tranchen (A, B, C) ausübbar sind, die Zusammenhänge der Ausübungspreise und dass die Beschränkung des wirtschaftlichen Eigentums die Umwandlung einiger Tranchen (insbesondere Tranche C) einschränkt.

Positive
  • Clear, detailed disclosure of beneficial ownership across funds, GPs and related entities providing transparency to investors
  • Warrants and conversion mechanics are explained, including exercise-price relationships and triggers, which helps assess potential future dilution
  • Aggregate ownership reported below or at the 9.99% cap for key parties, indicating the Beneficial Ownership Limitation is actively constraining conversions
Negative
  • Potential constrained conversions: The 9.99% Beneficial Ownership Limitation prevents conversion of some Tranche C and limits Tranche B conversions, creating uncertainty about future share issuance
  • Concentrated ownership: Affiliated holdings aggregate to ~9.99%, which is economically material and could affect voting outcomes or perceived influence
  • Complex instrument structure: Multiple warrant tranches with different triggers complicate near-term dilution modeling for investors

Insights

TL;DR: Large activist-style holding disclosed; warrants create potential future dilution but conversion capped by 9.99% limit.

The filing reveals that BVF and related entities hold meaningful positions in UNCY via warrants and preferred convertible instruments adjusted for a reverse split. Reported direct economic exposure equals 777,308 shares for BVF and aggregate affiliated exposure reaches 1,417,117 shares (~9.99%). Material for investors: warrant tranches have sequential exercise prices and varying exercisability triggers (FDA approval, payment adjustment, commercial sales milestones). The 9.99% Beneficial Ownership Limitation will constrain conversion of Tranche B and fully block Tranche C conversions absent changes to the limit, limiting immediate dilution from those tranches.

TL;DR: Disclosure is comprehensive; ownership structure shows layered control among GP and partners, with standard disclaimers of beneficial ownership.

The Schedule 13G/A documents the governance and control linkages between funds, GP entities and an individual (Mark Lampert). Multiple entities may be deemed to beneficially own shares through GP and management relationships, and several disclaimers clarify boundaries. This level of detail aids transparency about who can exercise voting or dispositive power and highlights that aggregate affiliated holdings approach the common 10% reporting threshold, which can influence governance dynamics.

Biotechnology Value Fund e soggetti collegati hanno dichiarato posizioni di proprietà beneficiaria in Unicycive Therapeutics (UNCY) alla data del 30 giugno 2025. La comunicazione riporta le partecipazioni rettificate in seguito a un raggruppamento azionario inverso di una azione ogni dieci e segnala consistenti posizioni in warrant che si convertono in azioni di Serie A di tipo preferenziale e successivamente in azioni ordinarie soggette a una limitazione di proprietà beneficiaria del 9,99%. Partecipazioni riportate per singolo soggetto: BVF 777.308 azioni (~5,7%), BVF II 591.650 azioni (~4,4%), Trading Fund OS 35.480 azioni (<1%) e soggetti collegati che complessivamente arrivano fino a 1.417.117 azioni (~9,99%). La nota specifica quali tranche di warrant (A, B, C) sono esercitabili, il rapporto tra prezzi di esercizio e azioni e che la Limitazione di Proprietà Beneficiaria impedisce la conversione di alcune tranche (in particolare la Tranche C).

Biotechnology Value Fund y entidades afiliadas informaron posiciones de propiedad beneficiaria en Unicycive Therapeutics (UNCY) al 30 de junio de 2025. la presentación divulga las tenencias ajustadas tras un reverse split de una por diez y amplias posiciones en warrants que se convierten en acciones preferentes Serie A y posteriormente en acciones ordinarias sujetas a una limitación de propiedad beneficiaria del 9,99%. Tenencias reportadas por entidad: BVF 777.308 acciones (~5,7%), BVF II 591.650 acciones (~4,4%), Trading Fund OS 35.480 acciones (<1%) y entidades afiliadas que en conjunto alcanzan hasta 1.417.117 acciones (~9,99%). La declaración explica qué tramos de warrants (A, B, C) son ejercitables, la relación de precios de ejercicio y que la Limitación de Propiedad Beneficiaria restringe la conversión de algunos tramos (notablemente el Tramo C).

Biotechnology Value Fund ë°� 계열사는 2025ë…� 6ì›� 30ì� 기준 Unicycive Therapeutics(UNCY)ì� 실질ì � 소유 ì§€ë¶„ì„ ë³´ê³ í–ˆìŠµë‹ˆë‹¤. 제출문서ëŠ� ì£¼ì‹ 10주당 1주로ì� 역병í•�(리버ìŠ� 스플ë¦�) ì´í›„ ì¡°ì •ë� 보유량과, 시리ì¦� A 우선주로 전환ë� í›� 9.99%ì� 실질 소유 í•œë„ ì ìš©ì� 받는 보통주로 추가 전환ë˜ëŠ” 대규모 워런íŠ� 보유ë¥� 공개합니ë‹�. 개별 ë³´ê³  보유내역: BVF 777,308ì£�(ì•� 5.7%), BVF II 591,650ì£�(ì•� 4.4%), Trading Fund OS 35,480ì£�(<1%), ë°� 계열사들ì� í•©ì‚°í•� 최대 1,417,117ì£�(ì•� 9.99%). 성명서는 ì–´ë–¤ 워런íŠ� 트랜ì¹�(A, B, C)ê°€ 행사 가능하ë©� 행사가ê²� 관계가 ì–´ë–»ê²� ë˜ëŠ”ì§€, 그리ê³� 실질 소유 한ë„ê°€ ì¼ë¶€ 트랜ì¹�(특히 C 트랜ì¹�)ì� 전환ì� 제한한다ëŠ� ì ì„ 설명합니ë‹�.

Biotechnology Value Fund et des entités affiliées ont déclaré des positions de propriété bénéficiaire dans Unicycive Therapeutics (UNCY) au 30 juin 2025. Le dépôt divulgue les avoirs ajustés après un regroupement d’actions inverse d’une pour dix et d’importantes positions en warrants qui se convertissent en actions privilégiées de série A puis en actions ordinaires soumises à une limite de propriété bénéficiaire de 9,99 %. Possessions déclarées par entité : BVF 777 308 actions (~5,7 %), BVF II 591 650 actions (~4,4 %), Trading Fund OS 35 480 actions (<1 %) et entités affiliées totalisant jusqu’� 1 417 117 actions (~9,99 %). La note précise quelles tranches de warrants (A, B, C) sont exerçables, les relations entre les prix d’exercice et les actions, et que la Limitation de Propriété Bénéficiaire restreint la conversion de certaines tranches (notamment la Tranche C).

Biotechnology Value Fund und verbundene Unternehmen meldeten am 30. Juni 2025 wirtschaftliche Eigentumspositionen an Unicycive Therapeutics (UNCY). Die Einreichung legt die nach einem 1-zu-10 Reverse-Split angepassten Bestände offen sowie umfangreiche Warrant-Positionen, die in Series-A-Vorzugsaktien und anschließend in Stammaktien umgewandelt werden, welche einer 9,99%-Beschränkung des wirtschaftlichen Eigentums unterliegen. Einzelangaben zu den gehaltenen Positionen: BVF 777.308 Aktien (~5,7%), BVF II 591.650 Aktien (~4,4%), Trading Fund OS 35.480 Aktien (<1%) und verbundene Gesellschaften gemeinsam bis zu 1.417.117 Aktien (~9,99%). Die Erklärung erläutert, welche Warrant-Tranchen (A, B, C) ausübbar sind, die Zusammenhänge der Ausübungspreise und dass die Beschränkung des wirtschaftlichen Eigentums die Umwandlung einiger Tranchen (insbesondere Tranche C) einschränkt.






Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)






SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G



BIOTECHNOLOGY VALUE FUND L P
Signature:/s/ Mark N. Lampert
Name/Title:Mark N. Lampert, Authorized Signatory
Date:08/14/2025
BVF I GP LLC
Signature:/s/ Mark N. Lampert
Name/Title:Mark N. Lampert, Authorized Signatory
Date:08/14/2025
BIOTECHNOLOGY VALUE FUND II LP
Signature:/s/ Mark N. Lampert
Name/Title:Mark N. Lampert, Authorized Signatory
Date:08/14/2025
BVF II GP LLC
Signature:/s/ Mark N. Lampert
Name/Title:Mark N. Lampert, Authorized Signatory
Date:08/14/2025
Biotechnology Value Trading Fund OS LP
Signature:/s/ Mark N. Lampert
Name/Title:Mark N. Lampert, Authorized Signatory
Date:08/14/2025
BVF Partners OS Ltd.
Signature:/s/ Mark N. Lampert
Name/Title:Mark N. Lampert, Authorized Signatory
Date:08/14/2025
BVF GP HOLDINGS LLC
Signature:/s/ Mark N. Lampert
Name/Title:Mark N. Lampert, Authorized Signatory
Date:08/14/2025
BVF PARTNERS L P/IL
Signature:/s/ Mark N. Lampert
Name/Title:Mark N. Lampert, Authorized Signatory
Date:08/14/2025
BVF INC/IL
Signature:/s/ Mark N. Lampert
Name/Title:Mark N. Lampert, Authorized Signatory
Date:08/14/2025
LAMPERT MARK N
Signature:/s/ Mark N. Lampert
Name/Title:Mark N. Lampert
Date:08/14/2025

FAQ

What percentage of UNCY does Biotechnology Value Fund (BVF) beneficially own?

BVF beneficially owned 777,308 shares, approximately 5.7% of outstanding UNCY shares as of June 30, 2025.

What is the aggregate percentage owned by BVF affiliates and related parties in UNCY?

Affiliated entities together beneficially owned 1,417,117 shares, approximately 9.99% of UNCY as of June 30, 2025.

What types of securities do the Reporting Persons hold in UNCY?

They hold Tranche A, B, and C warrants exercisable into Series A-3, A-4 and A-5 convertible preferred stock, which are convertible into common shares subject to a 9.99% limit.

How does the Beneficial Ownership Limitation affect conversions?

The 9.99% Beneficial Ownership Limitation prevents conversion of preferred shares that would push a holder above 9.99% of outstanding shares; it fully prohibits conversion of Tranche C for the Reporting Persons as of June 30, 2025.

Was the reported share count adjusted for any corporate action?

Yes. The numbers were adjusted for a one-for-ten reverse stock split effective June 18, 2025 as noted in the filing.
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Biotechnology
Pharmaceutical Preparations
United States
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