Nantahala holds 148,736 shares in Kiora Pharmaceuticals (KPRX) as 3.388% stake

Rhea-AI Filing Summary

Kiora Pharmaceuticals reported that Nantahala Capital Partners LP amended its Schedule 13G to state beneficial ownership of 148,736 shares as of March 31, 2026. The filing notes those 148,736 shares include shares acquirable upon exercise of warrants within sixty days. The position represents 3.388% of the class, based on 4,431,940 shares outstanding as of the 10-Q filed May 8, 2026.

Insights

Institutional Ownership Analyst

Nantahala reports a modest 3.388% stake (148,736 shares), including near-term warrant exercisable shares.

The filing confirms beneficial ownership and voting/dispositive powers are shared for 148,736 shares. The inclusion of shares exercisable within sixty days is material for short-term potential conversion of warrants into common stock.

Future filings may disclose whether warrants are exercised; cash-flow treatment and timing are not provided in this excerpt.

Corporate Governance Specialist

Disclosure aligns with ownership reporting norms; shared voting and dispositive power are declared.

The Schedule 13G/A lists voting power as shared for 148,736 shares and shows no sole voting or dispositive power. This clarifies control attributes associated with the stake.

Because the position is 3.388%, it remains below the 5% threshold noted in the filing.

Key Figures

Beneficial ownership: 148,736 shares Percent of class: 3.388% Shares outstanding: 4,431,940 shares +2 more

5 metrics

Beneficial ownership 148,736 shares As of March 31, 2026; includes shares exercisable on warrant exercise within 60 days

Percent of class 3.388% Calculated using 4,431,940 shares outstanding per the 10-Q filed May 8, 2026

Shares outstanding 4,431,940 shares per the 10-Q filed May 8, 2026 (used to compute percent)

Shared voting power 148,736 Reported shared power to vote or direct the vote

Sole voting/dispositive power 0 Sole power to vote and sole power to dispose reported as zero

Key Terms

Schedule 13G/A, beneficial owner, warrants exercisable within sixty days

3 terms

Schedule 13G/A regulatory

"Amendment No. 1; filing header for beneficial ownership reporting"

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.

beneficial owner regulatory

"As of March 31, 2026, Nantahala may be deemed to be the beneficial owner"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

warrants exercisable within sixty days financial

"includes 148,736 Shares which may be acquired ... within sixty days"

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

KIORA PHARMACEUTICALS, INC.

(Name of Issuer)

Common Stock, $0.01 par value

(Title of Class of Securities)

49721T507

(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): 49721T507

1

Names of Reporting Persons

NANTAHALA CAPITAL PARTNERS LIMITED PARTNERSHIP

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

MASSACHUSETTS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 148,736.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 148,736.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

148,736.00

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)

3.388 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: KIORA PHARMACEUTICALS, INC.
(b)	Address of issuer's principal executive offices: 169 Saxony Rd., Suite 212, Encinitas, CA, 92024
Item 2.
(a)	Name of person filing: NANTAHALA CAPITAL PARTNERS LIMITED PARTNERSHIP ("Nantahala")
(b)	Address or principal business office or, if none, residence: 130 Main St. 2nd Floor, New Canaan, CT 06840
(c)	Citizenship: Nantahala is a Massachusetts limited partnership.
(d)	Title of class of securities: Common Stock, $0.01 par value
(e)	CUSIP No.: 49721T507
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: As of March 31, 2026, Nantahala may be deemed to be the beneficial owner of 148,736 Shares. The 148,736 Shares includes 148,736 Shares which may be acquired by the Reporting Persons within sixty days through the exercise of warrants.
(b)	Percent of class: As of March 31, 2026, each of the Reporting Persons may be deemed to be the beneficial owner of 3.388% of the total number of Shares outstanding, based on 4,431,940 shares outstanding per the 10Q filed on May 8, 2026.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 148,736
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 148,736
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
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.

NANTAHALA CAPITAL PARTNERS LIMITED PARTNERSHIP

Signature:	/s/ Taki Vasilakis
Name/Title:	Taki Vasilakis / Chief Compliance Officer Nantahala Capital Management, LLC
Date:	05/15/2026

Signature:	/s/ Wilmot B. Harkey
Name/Title:	Wilmot B. Harkey / Manager Nantahala Capital Management, LLC
Date:	05/15/2026

Signature:	/s/ Daniel Mack
Name/Title:	Daniel Mack / Manager Nantahala Capital Management, LLC
Date:	05/15/2026

FAQ

What stake does Nantahala report in KPRX?

Nantahala reports beneficial ownership of 148,736 shares as of March 31, 2026. The filing states this equals 3.388% of the class based on 4,431,940 shares outstanding per the 10-Q filed May 8, 2026.

Do the reported shares include any exercisable securities?

Yes. The filing states the 148,736 shares include shares that may be acquired upon the exercise of warrants within sixty days, and those exercisable shares are counted in the reported beneficial ownership.

What voting and dispositive powers are disclosed for this stake?

The filing shows 0 sole voting power and 148,736 shared voting power; similarly, sole dispositive power is 0 and shared dispositive power is 148,736, as stated in the Schedule 13G/A.

On what outstanding share base is the percentage calculated?

The 3.388% figure is calculated using 4,431,940 shares outstanding, specified as the outstanding share count in the 10-Q filed May 8, 2026, per the amendment.