ADAR1 Capital Management files an amendment reporting beneficial ownership stakes in Inhibikase Therapeutics. ADAR1 Capital Management is shown with 13,860,028 shares representing 9.9% of the issuer's common stock. The filing ties these figures to March 31, 2026 and to an outstanding share base of 132,032,636 shares reported in the issuer's Form 10-Q for the quarter ended March 31, 2026.
The cover pages list related parties: ADAR1 Capital Management GP, LLC with 11,832,998 shares (8.5%) and Daniel Schneeberger with 13,860,028 shares (9.9%). The reported holdings include common stock held by funds and shares underlying milestone warrants as described in the footnotes; the filing states ADAR1 acts in management/sub-advisory roles and may be deemed to indirectly beneficially own the referenced positions.
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Insights
ADAR1's position approaches a double-digit stake and is disclosed as indirect via managed entities.
ADAR1 Capital Management is reported with 13,860,028 shares (9.9%) of common stock as of March 31, 2026, tied to multiple managed accounts and milestone warrants. The filing identifies the firm as investment manager/sub-advisor, which explains the indirect beneficial ownership structure.
Key dependencies include the exercisability/vesting of the cited milestone warrants and the actual voting/dispositive arrangements across the pooled entities. Subsequent filings or amendments could show changes if warrants vest or are exercised.
Reported holdings are large enough to be a notable institutional stake but fall below a 10% control threshold in some jurisdictions.
The filing lists ADAR1 Capital Management at 9.9% of 132,032,636 shares outstanding, with ADAR1 GP at 8.5% and Mr. Schneeberger also attributed 9.9%. The percentages are computed using the issuer's stated outstanding share count as of March 31, 2026.
Because the positions are styled as indirect via funds and include warrants, the actual voting power and potential dilution depend on future warrant events. Cash‑flow treatment and any planned transactions are not stated in the provided excerpt.
Key Figures
Outstanding shares:132,032,636 sharesADAR1 beneficial ownership:13,860,028 sharesReported ownership percentage:9.9%+2 more
5 metrics
Outstanding shares132,032,636 sharesOutstanding as of March 31, 2026 (Form 10-Q)
ADAR1 beneficial ownership13,860,028 sharesADAR1 Capital Management reported amount as of March 31, 2026
Reported ownership percentage9.9%Percentage of outstanding shares as of March 31, 2026
ADAR1 GP beneficial ownership11,832,998 sharesADAR1 Capital Management GP, LLC reported amount as of March 31, 2026
Milestone warrants included7,253,456 sharesShares underlying milestone warrants included in totals as of March 31, 2026
"Includes ... 7,253,456 shares of Common Stock underlying milestone warrants"
Milestone warrants are rights that let holders buy a company’s stock only if specific goals—such as regulatory approvals, sales targets, or project completions—are met. Think of them as a coupon that only becomes usable when the company hits agreed checkpoints; they matter to investors because they create contingent value and potential share dilution, and they signal which outcomes the company and its backers consider most important.
beneficially ownregulatory
"may be deemed to indirectly beneficially own securities held by ADAR1 Partners, LP"
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
shared dispositive powerregulatory
"Shared Dispositive Power 13,860,028.00"
Schedule 13G/Aregulatory
"This Schedule is being filed on behalf of each of the following persons"
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
What stake does ADAR1 Capital Management report in Inhibikase (IKT)?
ADAR1 Capital Management reports 13,860,028 shares, equal to 9.9% of common stock. This percentage is based on 132,032,636 shares outstanding as of March 31, 2026 per the issuer's Form 10-Q.
Does the filing show who directly holds the reported shares?
The filing states holdings are held by ADAR1-managed entities, including ADAR1 Partners, LP and Spearhead Insurance Solutions IDF, LLC. ADAR1 is identified as investment manager or sub-advisor for those accounts.
Are milestone warrants included in ADAR1's reported ownership?
Yes. The filing states the totals include 7,253,456 shares underlying milestone warrants across ADAR1-managed entities as of March 31, 2026, which are counted in the disclosed beneficial position.
What outstanding share count is used to compute the percentages?
Percentages are computed using 132,032,636 shares outstanding as of March 31, 2026, reported in the issuer's Form 10-Q for the quarterly period ended March 31, 2026.
Does the filing state ADAR1 has sole voting power over these shares?
No. The cover shows 0 shares of sole voting power and lists shared voting power and shared dispositive power for the reported amounts, indicating indirect control via managed accounts.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)
Inhibikase Therapeutics, Inc.
(Name of Issuer)
Common Stock, $0.001 par value
(Title of Class of Securities)
45719W205
(CUSIP Number)
03/31/2026
(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)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
45719W205
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
0.00
6
Shared Voting Power
13,860,028.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
13,860,028.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
13,860,028.00
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, OO
Comment for Type of Reporting Person: Includes (i) 4,786,694 shares of common stock, par value $0.001 per share ("Common Stock") held by ADAR1 Partners, LP, (ii) 694,329 shares of Common Stock held by Spearhead Insurance Solutions IDF, LLC, (iii) 510,949 shares of Common Stock held by ADAR1 SPV I, LP, (iv) 614,600 shares of Common Stock held by other separately managed accounts and (v) 7,253,456 shares of Common Stock underlying milestone warrants held by ADAR1 Partners, LP, Spearhead Insurance Solutions IDF, LLC, and ADAR1 SPV I, LP as of March 31, 2026. As the investment manager of ADAR1 Partners, LP and ADAR1 SPV I, LP and as the sub-advisor of Spearhead Insurance Solutions IDF, LLC and the separately managed accounts referenced above, ADAR1 Capital Management, LLC may be deemed to indirectly beneficially own securities held by ADAR1 Partners, LP; Spearhead Insurance Solutions IDF, LLC; ADAR1 SPV I, LP and the separately managed accounts.
Based on 132,032,636 shares of Common Stock of Inhibikase Therapeutics, Inc. (the "Issuer") outstanding as of March 31, 2026, reported in the Issuer's Form 10-Q for the quarterly period ended March 31, 2026, filed with the Securities and Exchange Commission on May 12, 2026.
SCHEDULE 13G
CUSIP Number(s):
45719W205
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
0.00
6
Shared Voting Power
11,832,998.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
11,832,998.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
11,832,998.00
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)
8.5 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: Includes (i) 4,786,694 shares of common stock, par value $0.001 per share ("Common Stock") held by ADAR1 Partners, LP, (ii) 510,949 shares of Common Stock held by ADAR1 SPV I, LP and (iii) 6,535,355 shares of Common Stock underlying milestone warrants held by ADAR1 Partners, LP and ADAR1 SPV I, LP as of March 31, 2026. As the general partner of ADAR1 Partners, LP and ADAR1 SPV I, LP, ADAR1 Capital Management GP, LLC may be deemed to indirectly beneficially own securities held by ADAR1 Partners, LP and ADAR1 SPV I, LP.
Based on 132,032,636 shares of Common Stock of Inhibikase Therapeutics, Inc. (the "Issuer") outstanding as of March 31, 2026, reported in the Issuer's Form 10-Q for the quarterly period ended March 31, 2026, filed with the Securities and Exchange Commission on May 12, 2026.
SCHEDULE 13G
CUSIP Number(s):
45719W205
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
0.00
6
Shared Voting Power
13,860,028.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
13,860,028.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
13,860,028.00
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: Includes (i) 4,786,694 shares of common stock, par value $0.001 per share ("Common Stock") held by ADAR1 Partners, LP, (ii) 694,329 shares of Common Stock held by Spearhead Insurance Solutions IDF, LLC, (iii) 510,949 shares of Common Stock held by ADAR1 SPV I, LP, (iv) 614,600 shares of Common Stock held by other separately managed accounts and (v) 7,253,456 shares of Common Stock underlying milestone warrants held by ADAR1 Partners, LP, Spearhead Insurance Solutions IDF, LLC, and ADAR1 SPV I, LP as of March 31, 2026. As the manager of ADAR1 Capital Management, LLC and ADAR1 Capital Management GP, LLC, Mr. Schneeberger may be deemed to indirectly beneficially own securities held by ADAR1 Partners, LP; Spearhead Insurance Solutions IDF, LLC; ADAR1 SPV I, LP and the separately managed accounts referenced above.
Based on 132,032,636 shares of Common Stock of Inhibikase Therapeutics, Inc. (the "Issuer") outstanding as of March 31, 2026, reported in the Issuer's Form 10-Q for the quarterly period ended March 31, 2026, filed with the Securities and Exchange Commission on May 12, 2026.
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 Schedule 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").
(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.
(c)
Citizenship:
(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.
(d)
Title of class of securities:
Common Stock, $0.001 par value
(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:
The information contained on the cover pages of this Schedule 13G is incorporated herein by reference.
(b)
Percent of class:
The information contained on the cover pages of this Schedule 13G is incorporated herein by reference.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information contained on the cover pages of this Schedule 13G is incorporated herein by reference.
(ii) Shared power to vote or to direct the vote:
The information contained on the cover pages of this Schedule 13G is incorporated herein by reference.
(iii) Sole power to dispose or to direct the disposition of:
The information contained on the cover pages of this Schedule 13G is incorporated herein by reference.
(iv) Shared power to dispose or to direct the disposition of:
The information contained on the cover pages of this Schedule 13G is incorporated herein by reference.
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.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
Mr. Schneeberger is filing this Schedule 13G as a control person in respect of shares beneficially owned by ADAR1 Capital Management, an investment adviser as described in SS 240.13d-1(b)(1)(ii)(E).
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 acquired and are held in the ordinary course of business and 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.
