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Frazier Funds Disclose Holdings, Warrants in Aura Biosciences (AURA)

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13G/A

Rhea-AI Filing Summary

Aura Biosciences, Inc. is the issuer covered by this Schedule 13G/A filed by multiple Frazier Life Sciences entities and individuals. The filing shows that Frazier Life Sciences Public Fund, L.P. directly holds 3,113,550 shares of Aura common stock, reported as 5.0% of the class based on the issuer's reported outstanding share counts used in the filing.

The statement also discloses additional direct holdings across related Frazier vehicles: 918,510 shares by the Public Overage Fund, 128,520 by FLS X, 342,210 by FLS XI and 597,210 by FLS XII. Several prefunded warrants are listed (for example, 778,388 warrants held by FLSPF), each subject to a 9.99% beneficial ownership exercise limit. The filing corrects prior attributions to certain investment-committee members and clarifies which entities directly hold the securities.

Positive

  • Clear disclosure of a 5.0% direct stake by Frazier Life Sciences Public Fund, L.P. (3,113,550 shares), which notifies the market of a material holder
  • Detailed breakdown of related entity holdings (918,510; 128,520; 342,210; 597,210 shares) improves transparency about aggregate Frazier exposure
  • Disclosure of prefunded warrants with explicit 9.99% exercise limits provides clarity on potential dilution and prevents surprise conversions above the stated threshold
  • Correction of prior attributions clarifies that certain investment-committee members are not individually attributed beneficial ownership, improving accuracy of public records

Negative

  • None.

Insights

TL;DR: Routine institutional Schedule 13G/A disclosing a 5.0% stake by a Frazier vehicle with related entity holdings and prefunded warrants.

The filing is a standard beneficial-ownership disclosure showing that Frazier Life Sciences Public Fund, L.P. holds 3,113,550 shares, representing 5.0% of Aura's common stock using the disclosed outstanding-share base. Related Frazier funds hold additional, smaller positions and disclosed prefunded warrants with explicit exercise limits at 9.99%, which prevents immediate conversion into large additional stakes. The correction of prior attributions reduces ambiguity about which individuals are deemed to hold voting or dispositive power. For investors, this is material as a transparency and ownership update but is procedural rather than a strategic change of control.

TL;DR: Clarifies beneficial ownership and corrects prior attribution errors; improves governance transparency without indicating control intent.

The amendment explicitly rescinds previous attributions to certain investment-committee members for several funds, clarifying that voting and dispositive power rests with the named entities. That reduces potential misstatements about individual influence. The filing's certification reiterates that holdings were not acquired to influence control. From a governance perspective, the disclosure enhances accuracy around who exercises investment power, which is important for board and shareholder oversight but does not itself signal a governance dispute or coordination among holders.






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




Comment for Type of Reporting Person: The amounts reported in rows 6, 8 and 9 represent shares held by the Reporting Person and do not include any warrants held by the Reporting Person. See item 4(a) to this Statement. The percentage listed in row 11 is calculated based the sum of (i) 50,268,758 shares of the Issuer's Common Stock outstanding as of May 9, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on May 15, 2025, and (ii) 11,735,565 shares of Common Stock that were sold by the Issuer in connection with its public offering as set forth as described in the Issuer's Prospectus Supplement filed with the SEC pursuant to Rule 424(b)(5) on May 16, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The amounts reported in rows 6, 8 and 9 represent shares held by the Reporting Person and do not include any warrants held by the Reporting Person. See item 4(a) to this Statement. The percentage listed in row 11 is calculated based the sum of (i) 50,268,758 shares of the Issuer's Common Stock outstanding as of May 9, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on May 15, 2025, and (ii) 11,735,565 shares of Common Stock that were sold by the Issuer in connection with its public offering as set forth as described in the Issuer's Prospectus Supplement filed with the SEC pursuant to Rule 424(b)(5) on May 16, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The amounts reported in rows 6, 8 and 9 represent shares held by the Reporting Person and do not include any warrants held by the Reporting Person. See item 4(a) to this Statement. The percentage listed in row 11 is calculated based the sum of (i) 50,268,758 shares of the Issuer's Common Stock outstanding as of May 9, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on May 15, 2025, and (ii) 11,735,565 shares of Common Stock that were sold by the Issuer in connection with its public offering as set forth as described in the Issuer's Prospectus Supplement filed with the SEC pursuant to Rule 424(b)(5) on May 16, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The amounts reported in rows 6, 8 and 9 represent shares held by the Reporting Person and do not include any warrants held by the Reporting Person. See item 4(a) to this Statement. The percentage listed in row 11 is calculated based the sum of (i) 50,268,758 shares of the Issuer's Common Stock outstanding as of May 9, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on May 15, 2025, and (ii) 11,735,565 shares of Common Stock that were sold by the Issuer in connection with its public offering as set forth as described in the Issuer's Prospectus Supplement filed with the SEC pursuant to Rule 424(b)(5) on May 16, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The amounts reported in rows 6, 8 and 9 represent shares held by the Reporting Person and do not include any warrants held by the Reporting Person. See item 4(a) to this Statement. The percentage listed in row 11 is calculated based the sum of (i) 50,268,758 shares of the Issuer's Common Stock outstanding as of May 9, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on May 15, 2025, and (ii) 11,735,565 shares of Common Stock that were sold by the Issuer in connection with its public offering as set forth as described in the Issuer's Prospectus Supplement filed with the SEC pursuant to Rule 424(b)(5) on May 16, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The amounts reported in rows 6, 8 and 9 represent shares held by the Reporting Person and do not include any warrants held by the Reporting Person. See item 4(a) to this Statement. The percentage listed in row 11 is calculated based the sum of (i) 50,268,758 shares of the Issuer's Common Stock outstanding as of May 9, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on May 15, 2025, and (ii) 11,735,565 shares of Common Stock that were sold by the Issuer in connection with its public offering as set forth as described in the Issuer's Prospectus Supplement filed with the SEC pursuant to Rule 424(b)(5) on May 16, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The amounts reported in rows 6, 8 and 9 represent shares held by the Reporting Person and do not include any warrants held by the Reporting Person. See item 4(a) to this Statement. The percentage listed in row 11 is calculated based the sum of (i) 50,268,758 shares of the Issuer's Common Stock outstanding as of May 9, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on May 15, 2025, and (ii) 11,735,565 shares of Common Stock that were sold by the Issuer in connection with its public offering as set forth as described in the Issuer's Prospectus Supplement filed with the SEC pursuant to Rule 424(b)(5) on May 16, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The amounts reported in rows 6, 8 and 9 represent shares held by the Reporting Person and do not include any warrants held by the Reporting Person. See item 4(a) to this Statement. The percentage listed in row 11 is calculated based the sum of (i) 50,268,758 shares of the Issuer's Common Stock outstanding as of May 9, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on May 15, 2025, and (ii) 11,735,565 shares of Common Stock that were sold by the Issuer in connection with its public offering as set forth as described in the Issuer's Prospectus Supplement filed with the SEC pursuant to Rule 424(b)(5) on May 16, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The amounts reported in rows 6, 8 and 9 represent shares held by the Reporting Person and do not include any warrants held by the Reporting Person. See item 4(a) to this Statement. The percentage listed in row 11 is calculated based the sum of (i) 50,268,758 shares of the Issuer's Common Stock outstanding as of May 9, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on May 15, 2025, and (ii) 11,735,565 shares of Common Stock that were sold by the Issuer in connection with its public offering as set forth as described in the Issuer's Prospectus Supplement filed with the SEC pursuant to Rule 424(b)(5) on May 16, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The amounts reported in rows 6, 8 and 9 represent shares held by the Reporting Person and do not include any warrants held by the Reporting Person. See item 4(a) to this Statement. The percentage listed in row 11 is calculated based the sum of (i) 50,268,758 shares of the Issuer's Common Stock outstanding as of May 9, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on May 15, 2025, and (ii) 11,735,565 shares of Common Stock that were sold by the Issuer in connection with its public offering as set forth as described in the Issuer's Prospectus Supplement filed with the SEC pursuant to Rule 424(b)(5) on May 16, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The amounts reported in rows 6, 8 and 9 represent shares held by the Reporting Person and do not include any warrants held by the Reporting Person. See item 4(a) to this Statement. The percentage listed in row 11 is calculated based the sum of (i) 50,268,758 shares of the Issuer's Common Stock outstanding as of May 9, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on May 15, 2025, and (ii) 11,735,565 shares of Common Stock that were sold by the Issuer in connection with its public offering as set forth as described in the Issuer's Prospectus Supplement filed with the SEC pursuant to Rule 424(b)(5) on May 16, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The amounts reported in rows 6, 8 and 9 represent shares held by the Reporting Person and do not include any warrants held by the Reporting Person. See item 4(a) to this Statement. The percentage listed in row 11 is calculated based the sum of (i) 50,268,758 shares of the Issuer's Common Stock outstanding as of May 9, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on May 15, 2025, and (ii) 11,735,565 shares of Common Stock that were sold by the Issuer in connection with its public offering as set forth as described in the Issuer's Prospectus Supplement filed with the SEC pursuant to Rule 424(b)(5) on May 16, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The amounts reported in rows 6, 8 and 9 represent shares held by the Reporting Person and do not include any warrants held by the Reporting Person. See item 4(a) to this Statement. The percentage listed in row 11 is calculated based the sum of (i) 50,268,758 shares of the Issuer's Common Stock outstanding as of May 9, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on May 15, 2025, and (ii) 11,735,565 shares of Common Stock that were sold by the Issuer in connection with its public offering as set forth as described in the Issuer's Prospectus Supplement filed with the SEC pursuant to Rule 424(b)(5) on May 16, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The amounts reported in rows 6, 8 and 9 represent shares held by the Reporting Person and do not include any warrants held by the Reporting Person. See item 4(a) to this Statement. The percentage listed in row 11 is calculated based the sum of (i) 50,268,758 shares of the Issuer's Common Stock outstanding as of May 9, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on May 15, 2025, and (ii) 11,735,565 shares of Common Stock that were sold by the Issuer in connection with its public offering as set forth as described in the Issuer's Prospectus Supplement filed with the SEC pursuant to Rule 424(b)(5) on May 16, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The amounts reported in rows 6, 8 and 9 represent shares held by the Reporting Person and do not include any warrants held by the Reporting Person. See item 4(a) to this Statement. The percentage listed in row 11 is calculated based the sum of (i) 50,268,758 shares of the Issuer's Common Stock outstanding as of May 9, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on May 15, 2025, and (ii) 11,735,565 shares of Common Stock that were sold by the Issuer in connection with its public offering as set forth as described in the Issuer's Prospectus Supplement filed with the SEC pursuant to Rule 424(b)(5) on May 16, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The amounts reported in rows 6, 8 and 9 represent shares held directly by Frazier Life Sciences X, L.P. and do not include any warrants held directly by Frazier Life Sciences X, L.P. See item 4(a) to this Statement. The percentage listed in row 11 is calculated based the sum of (i) 50,268,758 shares of the Issuer's Common Stock outstanding as of May 9, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on May 15, 2025, and (ii) 11,735,565 shares of Common Stock that were sold by the Issuer in connection with its public offering as set forth as described in the Issuer's Prospectus Supplement filed with the SEC pursuant to Rule 424(b)(5) on May 16, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person: The amounts reported in rows 6, 8 and 9 represent shares held directly by Frazier Life Sciences X, L.P. and do not include any warrants held directly by Frazier Life Sciences X, L.P. See item 4(a) to this Statement. The percentage listed in row 11 is calculated based the sum of (i) 50,268,758 shares of the Issuer's Common Stock outstanding as of May 9, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on May 15, 2025, and (ii) 11,735,565 shares of Common Stock that were sold by the Issuer in connection with its public offering as set forth as described in the Issuer's Prospectus Supplement filed with the SEC pursuant to Rule 424(b)(5) on May 16, 2025.


SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G





SCHEDULE 13G



Frazier Life Sciences Public Fund, L.P.
Signature:/s/ Steve R. Bailey
Name/Title:By Steve R. Bailey, CFO of FHMLSP, L.L.C., GP of FHMLSP, L.P., GP of Frazier Life Sciences Public Fund, L.P.
Date:08/14/2025
FHMLSP, L.P.
Signature:/s/ Steve R. Bailey
Name/Title:By Steve R. Bailey, CFO of FHMLSP, L.L.C., GP of FHMLSP, L.P.
Date:08/14/2025
FHMLSP, L.L.C.
Signature:/s/ Steve R. Bailey
Name/Title:By Steve R. Bailey, CFO of FHMLSP, L.L.C.
Date:08/14/2025
Frazier Life Sciences Public Overage Fund, L.P.
Signature:/s/ Steve R. Bailey
Name/Title:By Steve R. Bailey, CFO of FHMLSP Overage, L.L.C., GP of FHMLSP Overage, L.P., GP of Frazier Life Sciences Public Overage Fund, L.P.
Date:08/14/2025
FHMLSP Overage, L.P.
Signature:/s/ Steve R. Bailey
Name/Title:By Steve R. Bailey, CFO of FHMLSP Overage, L.L.C., GP of FHMLSP Overage, L.P.
Date:08/14/2025
FHMLSP Overage, L.L.C.
Signature:/s/ Steve R. Bailey
Name/Title:By Steve R. Bailey, CFO of FHMLSP Overage, L.L.C.
Date:08/14/2025
Frazier Life Sciences X, L.P.
Signature:/s/ Steve R. Bailey
Name/Title:By Steve R. Bailey, CFO of FHMLS X, L.L.C., GP of FHMLS X, L.P., GP of Frazier Life Sciences X, L.P.
Date:08/14/2025
FHMLS X, L.P.
Signature:/s/ Steve R. Bailey
Name/Title:By Steve R. Bailey, CFO of FHMLS X, L.L.C., GP of FHMLS X, L.P.
Date:08/14/2025
FHMLS X, L.L.C.
Signature:/s/ Steve R. Bailey
Name/Title:By Steve R. Bailey, CFO of FHMLS X, L.L.C.
Date:08/14/2025
Frazier Life Sciences XI, L.P.
Signature:/s/ Steve R. Bailey
Name/Title:By Steve R. Bailey, CFO of FHMLS XI, L.L.C., GP of FHMLS XI, L.P., GP of Frazier Life Sciences XI, L.P.
Date:08/14/2025
FHMLS XI, L.P.
Signature:/s/ Steve R. Bailey
Name/Title:By Steve R. Bailey, CFO of FHMLS XI, L.L.C., GP of FHMLS XI, L.P.
Date:08/14/2025
FHMLS XI, L.L.C.
Signature:/s/ Steve R. Bailey
Name/Title:By Steve R. Bailey, CFO of FHMLS XI, L.L.C.
Date:08/14/2025
Frazier Life Sciences XII, L.P.
Signature:/s/ Gordon Empey
Name/Title:By Gordon Empey, General Counsel of FHMLS XII, L.L.C., GP of FHMLS XII, L.P., GP of Frazier Life Sciences XII, L.P.
Date:08/14/2025
FHMLS XII, L.P.
Signature:/s/ Gordon Empey
Name/Title:By Gordon Empey, General Counsel of FHMLS XII, L.L.C., GP of FHMLS XII, L.P.
Date:08/14/2025
FHMLS XII, L.L.C.
Signature:/s/ Gordon Empey
Name/Title:By Gordon Empey, General Counsel of FHMLS XII, L.L.C.
Date:08/14/2025
James N. Topper
Signature:/s/ Steve R. Bailey
Name/Title:By Steve R. Bailey, Attorney-in-Fact for James N. Topper, pursuant to a Power of Attorney, a copy of which was filed with the SEC on July 31, 2017
Date:08/14/2025
Patrick J. Heron
Signature:/s/ Steve R. Bailey
Name/Title:By Steve R. Bailey, Attorney-in-Fact for Patrick J. Heron, pursuant to a Power of Attorney, a copy of which was filed with the SEC on July 31, 2017
Date:08/14/2025
Albert Cha
Signature:/s/ Steve R. Bailey
Name/Title:By Steve R. Bailey, Attorney-in-Fact for Albert Cha, pursuant to a Power of Attorney, a copy of which was filed with the SEC on August 16, 2021
Date:08/14/2025
James Brush
Signature:/s/ Steve R. Bailey
Name/Title:By Steve R. Bailey, Attorney-in-Fact for James Brush, pursuant to a Power of Attorney, a copy of which was filed with the SEC on August 16, 2021
Date:08/14/2025
Daniel Estes
Signature:/s/ Steve R. Bailey
Name/Title:By Steve R. Bailey, Attorney-in-Fact for Daniel Estes, pursuant to a Power of Attorney, a copy of which was filed with the SEC on April 18, 2022
Date:08/14/2025
Exhibit Information

Exhibit 99.1 Joint Filing Agreement, dated as of May 23, 2025, incorporated by reference into this Statement.

FAQ

What stake did Frazier Life Sciences Public Fund, L.P. report in Aura Biosciences (AURA)?

The filing shows 3,113,550 shares held directly by Frazier Life Sciences Public Fund, L.P., reported as 5.0% of the class.

Do Frazier entities hold additional Aura shares across related funds?

Yes. The filing lists additional direct holdings: 918,510 (Public Overage Fund), 128,520 (FLS X), 342,210 (FLS XI), and 597,210 (FLS XII).

Are there warrants disclosed and can they be exercised into common stock?

Yes. Prefunded warrants are disclosed (for example, 778,388 held by FLSPF). Each warrant has an exercise limitation so conversion cannot increase beneficial ownership above 9.99%.

Did the filing change previous ownership attributions?

The amendment corrects prior attributions and states that certain investment-committee members are not attributed beneficial ownership of securities directly held by specified funds.

What share counts were used to calculate the percentages in the filing?

Percentages are calculated using 50,268,758 shares outstanding as of May 9, 2025 and 11,735,565 shares sold in the issuer's public offering, as referenced in the filing.
Aura Biosciences, Inc.

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Biotechnology
Biological Products, (no Disgnostic Substances)
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United States
BOSTON