Fairmount discloses 9.9% Inhibikase (IKT) stake via shares and warrants

Rhea-AI Filing Summary

Inhibikase Therapeutics, Inc. received an amended Schedule 13G/A showing that Fairmount Funds Management LLC, Fairmount Healthcare Fund II L.P., and principals Peter Harwin and Tomas Kiselak collectively report beneficial ownership of 12,461,101 shares of Common Stock, representing 9.9% of the class.

The position consists of 8,625,000 shares held by Fund II and the current right to acquire 3,836,101 additional shares through pre-funded warrants, limited by a 9.99% “Beneficial Ownership Limitation.” The 9.9% stake is calculated against 124,461,101 shares of Common Stock outstanding as of the filing date.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Inhibikase Therapeutics, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

45719W205

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

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

CUSIP No. 45719W205

1

Names of Reporting Persons

Fairmount Funds 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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,461,101.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,461,101.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,461,101.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.9 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: The shares reported herein for the Reporting Person represent 8,625,000 shares of the Issuer's Common Stock held by Fairmount Healthcare Fund II LP ("Fund II") and 3,836,101 shares of the Issuer's Common Stock Fund II has the right to acquire through the exercise of 3,836,101 pre-funded warrants ("Pre-Funded Warrants"). The Pre-Funded Warrants contain a provision (the "Beneficial Ownership Limitation") which precludes exercise of the warrants to the extent that, following exercise, the Reporting Person, together with its attribution parties, would own more than 9.99% of the Common Stock outstanding. Row 11 is based on 124,461,101 shares of Common Stock outstanding as of the date of this filing, consisting of 120,899,650 shares of the Issuer's Common Stock outstanding as of November 21, 2025, as disclosed in the prospectus supplement filed pursuant to Rule 424(b)(5) filed by the Issuer with the Securities and Exchange Commission on November 21, 2025 and 3,836,101 shares of Common Stock of which the Reporting Person may acquire beneficial ownership upon the exercise of Pre-Funded Warrants, subject to the beneficial ownership limitation.

SCHEDULE 13G

CUSIP No. 45719W205

1

Names of Reporting Persons

Fairmount Healthcare Fund II L.P.

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,461,101.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,461,101.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,461,101.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.9 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: The shares reported herein for the Reporting Person represent 8,625,000 shares of the Issuer's Common Stock held by Fund II and 3,836,101 shares of the Issuer's Common Stock Fund II has the right to acquire through the exercise of 3,836,101 Pre-Funded Warrants. The Pre-Funded Warrants contain the Beneficial Ownership Limitation which precludes exercise of the warrants to the extent that, following exercise, the Reporting Person, together with its attribution parties, would own more than 9.99% of the Common Stock outstanding. Row 11 is based on 124,461,101 shares of Common Stock outstanding as of the date of this filing, consisting of 120,899,650 shares of the Issuer's Common Stock outstanding as of November 21, 2025, as disclosed in the prospectus supplement filed pursuant to Rule 424(b)(5) filed by the Issuer with the Securities and Exchange Commission on November 21, 2025 and 3,836,101 shares of Common Stock of which the Reporting Person may acquire beneficial ownership upon the exercise of Pre-Funded Warrants, subject to the beneficial ownership limitation.

SCHEDULE 13G

CUSIP No. 45719W205

1

Names of Reporting Persons

Peter Harwin

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,461,101.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,461,101.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,461,101.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.9 %

12

Type of Reporting Person (See Instructions)

HC, IN

Comment for Type of Reporting Person: The shares reported herein for the Reporting Person represent 8,625,000 shares of the Issuer's Common Stock held by Fund II and 3,836,101 shares of the Issuer's Common Stock Fund II has the right to acquire through the exercise of 3,836,101 Pre-Funded Warrants. The Pre-Funded Warrants contain the Beneficial Ownership Limitation which precludes exercise of the warrants to the extent that, following exercise, the Reporting Person, together with its attribution parties, would own more than 9.99% of the Common Stock outstanding. Row 11 is based on 124,461,101 shares of Common Stock outstanding as of the date of this filing, consisting of 120,899,650 shares of the Issuer's Common Stock outstanding as of November 21, 2025, as disclosed in the prospectus supplement filed pursuant to Rule 424(b)(5) filed by the Issuer with the Securities and Exchange Commission on November 21, 2025 and 3,836,101 shares of Common Stock of which the Reporting Person may acquire beneficial ownership upon the exercise of Pre-Funded Warrants, subject to the beneficial ownership limitation.

SCHEDULE 13G

CUSIP No. 45719W205

1

Names of Reporting Persons

Tomas Kiselak

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

SLOVAKIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,461,101.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,461,101.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,461,101.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.9 %

12

Type of Reporting Person (See Instructions)

HC, IN

Comment for Type of Reporting Person: The shares reported herein for the Reporting Person represent 8,625,000 shares of the Issuer's Common Stock held by Fund II and 3,836,101 shares of the Issuer's Common Stock Fund II has the right to acquire through the exercise of 3,836,101 Pre-Funded Warrants. The Pre-Funded Warrants contain the Beneficial Ownership Limitation which precludes exercise of the warrants to the extent that, following exercise, the Reporting Person, together with its attribution parties, would own more than 9.99% of the Common Stock outstanding. Row 11 is based on 124,461,101 shares of Common Stock outstanding as of the date of this filing, consisting of 120,899,650 shares of the Issuer's Common Stock outstanding as of November 21, 2025, as disclosed in the prospectus supplement filed pursuant to Rule 424(b)(5) filed by the Issuer with the Securities and Exchange Commission on November 21, 2025 and 3,836,101 shares of Common Stock of which the Reporting Person may acquire beneficial ownership upon the exercise of Pre-Funded Warrants, subject to the beneficial ownership limitation.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Inhibikase Therapeutics, Inc.
(b)	Address of issuer's principal executive offices: 1000 N. West Street, Suite 1200, Wilmington, DE 19801
Item 2.
(a)	Name of person filing: This Amendment No. 2 to Schedule 13G amends and restates the statement on Schedule 13G originally filed on October 17, 2024 and Amendment No. 1 thereto filed on February 14, 2025. This joint statement on Schedule 13G (this "Statement") is being filed by Fairmount Funds Management LLC ("Fairmount"), Fund II, Peter Harwin, and Tomas Kiselak. Fairmount, Fund II, Mr. Harwin, and Mr. Kiselak are collectively referred to herein as the "Reporting Persons." The Common Stock reported herein includes Common Stock beneficially owned directly by Fund II. Fairmount Healthcare Fund II GP LLC is the general partner of Fund II. The controlling persons of Fairmount are Mr. Harwin and Mr. Kiselak. Fairmount serves as investment adviser for Fund II and may be deemed a beneficial owner, for purposes of Section 13(d) of the Securities Exchange Act of 1934 (the "Act"), of any securities of the Issuer held by Fund II. Fund II has delegated to Fairmount the sole power to vote and the sole power to dispose of all securities held in Fund II's portfolio, including the shares of the Issuer's Common Stock reported herein. Because Fund II has divested voting and investment power over the reported securities and cannot revoke such delegation on less than 61 days' notice, Fund II disclaims beneficial ownership of the securities for purposes of Section 13(d) of the Act and therefore disclaims any obligation to report ownership of the reported securities under Section 13(d) of the Act. As managing members of Fairmount, Mr. Harwin and Mr. Kiselak may be deemed beneficial owners, for purposes of Section 13(d) of the Act, of any securities of the Issuer beneficially owned by Fairmount. Fairmount, Mr. Harwin, and Mr. Kiselak disclaim beneficial ownership of the securities reported in this Statement other than for the purpose of determining their obligations under Section 13(d) of the Act, and the filing of the Statement shall not be deemed an admission that any of Fairmount, Mr. Harwin, or Mr. Kiselak is the beneficial owner of such securities for any other purpose.
(b)	Address or principal business office or, if none, residence: c/o Fairmount Funds Management LLC, 200 Barr Harbor Drive, Suite 400, West Conshohocken, PA 19428.
(c)	Citizenship: Fairmount is a Delaware limited liability company. Fund II is a Delaware limited partnership. Mr. Harwin is a United States citizen. Mr. Kiselak is a Slovak Republic citizen.
(d)	Title of class of securities: Common Stock, par value $0.001 per share
(e)	CUSIP No.: 45719W205
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 as 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)	An 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 associations 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 of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Fund II holds (i) 8,625,000 shares of Common Stock, (ii) Pre-Funded Warrants with the right to acquire 4,460,000 shares of Common Stock, (iii) 5,290,872 Series A-1 Warrants to purchase Common Stock, or in lieu thereof, Pre-Funded Warrants at an exercise price of $1.37 per share (the "A-1 Warrants"), and (iv) 9,729,523 Series B-1 Warrants to purchase Common Stock, or in lieu thereof, Pre-Funded Warrants, at an exercise price of $1.49 per share (the "B-1 Warrants"). Pursuant to the terms of the Pre-funded Warrants, the A-1 Warrants, and the B-1 Warrants, the Reporting Persons' are subject to a beneficial ownership limitation (the "Beneficial Ownership Limitation") that prevents the Reporting Persons from exercising any of the Pre-funded Warrants, the A-1 Warrants or the B-1 Warrants to the extent that, after giving effect to such exercise, the Reporting Persons, together with their affiliates, would beneficially own more than 9.99% of the Issuer's outstanding shares of Common Stock. Giving effect to the Beneficial Ownership Limitation, the Reporting Persons can currently acquire 3,836,101 shares of Common Stock upon the exercise of Pre-Funded Warrants.
(b)	Percent of class: See the response(s) to Item 11 on the attached cover page(s).
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
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

Item 10.

Certifications:

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.

Fairmount Funds Management LLC

Signature:	/s/ Peter Harwin
Name/Title:	Peter Harwin, Managing Member
Date:	02/17/2026

Signature:	/s/ Tomas Kiselak
Name/Title:	Tomas Kiselak, Managing Member
Date:	02/17/2026

Fairmount Healthcare Fund II L.P.

Signature:	/s/ Peter Harwin
Name/Title:	Peter Harwin, Member
Date:	02/17/2026

Signature:	/s/ Tomas Kiselak
Name/Title:	Tomas Kiselak, Member
Date:	02/17/2026

Peter Harwin

Signature:	/s/ Peter Harwin
Name/Title:	Peter Harwin
Date:	02/17/2026

Tomas Kiselak

Signature:	/s/ Tomas Kiselak
Name/Title:	Tomas Kiselak
Date:	02/17/2026

Exhibit Information

99.1 Joint Filing Agreement (incorporated by reference to Exhibit A to the Schedule 13G filed with the SEC on February 14, 2025)

FAQ

What ownership stake in Inhibikase Therapeutics (IKT) does Fairmount report?

Fairmount and related parties report beneficial ownership of 12,461,101 Inhibikase shares, equal to 9.9% of the common stock. This includes both currently held shares and shares that can be acquired through pre-funded warrants, subject to a contractual ownership cap.

How many Inhibikase (IKT) shares does Fairmount Healthcare Fund II L.P. hold directly?

Fairmount Healthcare Fund II L.P. holds 8,625,000 Inhibikase common shares directly. In addition, it holds pre-funded warrants that currently allow acquisition of 3,836,101 more shares, all aggregated to reach the reported 12,461,101-share, 9.9% beneficial ownership position.

What is the Beneficial Ownership Limitation mentioned in the Inhibikase (IKT) filing?

The Beneficial Ownership Limitation caps Fairmount’s beneficial ownership at 9.99% of outstanding common stock. The pre-funded and other warrants cannot be exercised if doing so would push Fairmount and its affiliates above this 9.99% threshold, limiting how many shares can be acquired at any time.

How is the 9.9% ownership in Inhibikase (IKT) calculated for Fairmount?

The 9.9% figure is based on 124,461,101 Inhibikase common shares deemed outstanding. That total includes 120,899,650 shares outstanding as of November 21, 2025 plus 3,836,101 shares Fairmount may acquire via pre-funded warrants, subject to the ownership cap.

Who are the reporting persons in the Inhibikase (IKT) Schedule 13G/A Amendment No. 2?

The reporting persons are Fairmount Funds Management LLC, Fairmount Healthcare Fund II L.P., Peter Harwin, and Tomas Kiselak. Fairmount advises Fund II, and Harwin and Kiselak control Fairmount, so they may be deemed beneficial owners for Section 13(d) reporting purposes.

What types of securities linked to Inhibikase (IKT) does Fund II hold besides common shares?

Fund II holds pre-funded warrants and Series A-1 and B-1 warrants to purchase Inhibikase common stock. These instruments allow additional share acquisitions at set exercise prices but remain subject to the 9.99% Beneficial Ownership Limitation described in the filing.