OnKure Therapeutics, Inc. received an updated ownership report from a group of affiliated investment entities led by Biotechnology Value Fund and Mark N. Lampert. As of June 30, 2026, the group beneficially owned 3,235,778 shares of Class A common stock, representing approximately 8.0% of the 40,395,480 shares outstanding as of May 4, 2026.
The BVF funds and a managed account also hold pre-funded warrants exercisable for 2,147,534 additional shares at an exercise price of $0.0001 per share, subject to a 4.9% beneficial ownership cap that currently prevents any exercise. Various BVF-related entities share voting and dispositive power over these positions, while formally disclaiming beneficial ownership where noted.
Positive
None.
Negative
None.
Key Figures
Shares outstanding:40,395,480 SharesAggregate BVF group holdings:3,235,778 SharesBVF group ownership percentage:8.0 %+5 more
8 metrics
Shares outstanding40,395,480 SharesClass A common stock outstanding as of May 4, 2026
Aggregate BVF group holdings3,235,778 SharesShares beneficially owned in aggregate by BVF, BVF2, Trading Fund OS and Partners managed account
BVF group ownership percentage8.0 %Approximate percentage of outstanding Shares beneficially owned by Partners, BVF Inc. and Mark N. Lampert
Pre-funded warrants shares2,147,534 SharesShares underlying pre-funded warrants held by BVF entities and a managed account
Warrant exercise price$0.0001 per ShareExercise price of the pre-funded warrants, exercisable immediately
BVF fund BVF ownership1,671,617 Shares; 4.1 %Shares and percentage beneficially owned by BVF, excluding its warrants
BVF fund BVF2 ownership1,289,385 Shares; 3.2 %Shares and percentage beneficially owned by BVF2, excluding its warrants
Trading Fund OS ownership226,497 Shares; 0.6 %Shares and percentage beneficially owned by Biotechnology Value Trading Fund OS
"held pre-funded warrants (the "Pre-Funded Warrants") exercisable for an aggregate of 2,147,534 shares"
Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.
beneficially ownedfinancial
"As of the close of business on June 30, 2026, (i) BVF beneficially owned 1,671,617 Shares"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
Section 13(d) groupregulatory
"any persons who are members of a Section 13(d) group with the holders and their affiliates"
dispositive powerfinancial
"Sole Dispositive Power 0.00 8 | Shared Dispositive Power 1,671,617.00"
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
beneficial ownership of more than 5 percentregulatory
"Item 6. | Ownership of more than 5 Percent on Behalf of Another Person."
FAQ
How much of OnKure Therapeutics (OKUR) does Biotechnology Value Fund report owning?
Biotechnology Value Fund and related entities report beneficial ownership of 3,235,778 shares of OnKure Therapeutics’ Class A common stock, representing approximately 8.0% of the 40,395,480 shares outstanding as of May 4, 2026.
What pre-funded warrants related to OnKure Therapeutics (OKUR) does the BVF group hold?
The BVF group and a managed account hold pre-funded warrants exercisable for an aggregate of 2,147,534 shares of OnKure Class A common stock, with an exercise price of $0.0001 per share and no expiration until fully exercised.
Why can’t BVF currently exercise its OnKure Therapeutics (OKUR) pre-funded warrants?
The pre-funded warrants are subject to a 4.9% beneficial ownership cap (the Pre-Funded Warrants Blocker). As of June 30, 2026, this Blocker prohibits exercise of any of the warrants held by the BVF entities and the managed account.
How many OnKure Therapeutics (OKUR) shares does each main BVF fund hold?
As of June 30, 2026, BVF held 1,671,617 shares, BVF2 held 1,289,385 shares, and Trading Fund OS held 226,497 shares, each excluding shares underlying their respective pre-funded warrants.
What percentage of OnKure Therapeutics (OKUR) is outstanding and used for BVF’s ownership calculations?
Ownership percentages are based on 40,395,480 shares of OnKure Class A common stock outstanding as of May 4, 2026, as reported in the company’s Quarterly Report on Form 10-Q filed May 5, 2026.
Who ultimately shares voting power over BVF’s OnKure Therapeutics (OKUR) holdings?
Partners, BVF Inc. and Mark N. Lampert share voting and dispositive power over shares beneficially owned by BVF, BVF2, Trading Fund OS and those held in the Partners managed account, while also including standard beneficial ownership disclaimers.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
OnKure Therapeutics, Inc.
(Name of Issuer)
Class A Common Stock, par value $0.0001 per share
(Title of Class of Securities)
68277Q105
(CUSIP Number)
06/30/2026
(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):
68277Q105
1
Names of Reporting Persons
BIOTECHNOLOGY VALUE FUND 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
1,671,617.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,671,617.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,671,617.00
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)
4.1 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
68277Q105
1
Names of Reporting Persons
BVF I 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
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,671,617.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,671,617.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,671,617.00
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)
4.1 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
68277Q105
1
Names of Reporting Persons
BIOTECHNOLOGY VALUE FUND II LP
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
1,289,385.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,289,385.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,289,385.00
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)
3.2 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
68277Q105
1
Names of Reporting Persons
BVF II 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
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,289,385.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,289,385.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,289,385.00
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)
3.2 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
68277Q105
1
Names of Reporting Persons
Biotechnology Value Trading Fund OS LP
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
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
226,497.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
226,497.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
226,497.00
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)
0.6 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
68277Q105
1
Names of Reporting Persons
BVF Partners OS Ltd.
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
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
226,497.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
226,497.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
226,497.00
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)
0.6 %
12
Type of Reporting Person (See Instructions)
CO
SCHEDULE 13G
CUSIP Number(s):
68277Q105
1
Names of Reporting Persons
BVF GP HOLDINGS 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
2,961,002.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,961,002.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,961,002.00
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)
7.3 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
68277Q105
1
Names of Reporting Persons
BVF PARTNERS L P/IL
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
3,235,778.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,235,778.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,235,778.00
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)
8.0 %
12
Type of Reporting Person (See Instructions)
IA, PN
SCHEDULE 13G
CUSIP Number(s):
68277Q105
1
Names of Reporting Persons
BVF INC/IL
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
3,235,778.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,235,778.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,235,778.00
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)
8.0 %
12
Type of Reporting Person (See Instructions)
CO
SCHEDULE 13G
CUSIP Number(s):
68277Q105
1
Names of Reporting Persons
LAMPERT MARK N
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
3,235,778.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,235,778.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,235,778.00
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)
8.0 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
OnKure Therapeutics, Inc.
(b)
Address of issuer's principal executive offices:
6707 WINCHESTER CIRCLE, SUITE 400, BOULDER, CO 80301
Item 2.
(a)
Name of person filing:
Biotechnology Value Fund, L.P. ("BVF")
BVF I GP LLC ("BVF GP")
Biotechnology Value Fund II, L.P. ("BVF2")
BVF II GP LLC ("BVF2 GP")
Biotechnology Value Trading Fund OS LP ("Trading Fund OS")
BVF Partners OS Ltd. ("Partners OS")
BVF GP Holdings LLC ("BVF GPH")
BVF Partners L.P. ("Partners")
BVF Inc.
Mark N. Lampert ("Mr. Lampert")
Each of the foregoing is referred to as a "Reporting Person" and collectively as the "Reporting Persons."
(b)
Address or principal business office or, if none, residence:
Biotechnology Value Fund, L.P.
44 Montgomery St., 40th Floor
San Francisco, California 94104
BVF I GP LLC
44 Montgomery St., 40th Floor
San Francisco, California 94104
Biotechnology Value Fund II, L.P.
44 Montgomery St., 40th Floor
San Francisco, California 94104
BVF II GP LLC
44 Montgomery St., 40th Floor
San Francisco, California 94104
Biotechnology Value Trading Fund OS LP
PO Box 309 Ugland House
Grand Cayman, KY1-1104
Cayman Islands
BVF Partners OS Ltd.
PO Box 309 Ugland House
Grand Cayman, KY1-1104
Cayman Islands
BVF GP Holdings LLC
44 Montgomery St., 40th Floor
San Francisco, California 94104
BVF Partners L.P.
44 Montgomery St., 40th Floor
San Francisco, California 94104
BVF Inc.
44 Montgomery St., 40th Floor
San Francisco, California 94104
Mark N. Lampert
44 Montgomery St., 40th Floor
San Francisco, California 94104
(c)
Citizenship:
Biotechnology Value Fund, L.P.
Delaware
BVF I GP LLC
Delaware
Biotechnology Value Fund II, L.P.
Delaware
BVF II GP LLC
Delaware
Biotechnology Value Trading Fund OS LP
Cayman Islands
BVF Partners OS Ltd.
Cayman Islands
BVF GP Holdings LLC
Delaware
BVF Partners L.P.
Delaware
BVF Inc.
Delaware
Mark N. Lampert
United States
(d)
Title of class of securities:
Class A Common Stock, par value $0.0001 per share
(e)
CUSIP No.:
68277Q105
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 the close of business on June 30, 2026, the Reporting Persons and a certain Partners managed account (the "Partners Managed Account") held pre-funded warrants (the "Pre-Funded Warrants") exercisable for an aggregate of 2,147,534 shares of the Issuer's Class A Common Stock, par value $0.0001 per share (the "Shares"). The Pre-Funded Warrants are exercisable immediately at an exercise price of $0.0001 per Share and will not expire until exercised in full. The Pre-Funded Warrants held by the Reporting Persons and the Partners Managed Account are only exercisable to the extent that after giving effect or immediately prior to such exercise the holders thereof, their affiliates and any persons who are members of a Section 13(d) group with the holders and their affiliates would beneficially own in the aggregate, for purposes of Rule 13d-3 under the Exchange Act, no more than 4.9% of the number of Shares outstanding immediately after giving effect to such exercise (the "Pre-Funded Warrants Blocker"). As of the close of business on June 30, 2026, the Pre-Funded Warrants Blocker prohibits the exercise of any of the Pre-Funded Warrants held by the Reporting Persons and the Partners Managed Account.
As of the close of business on June 30, 2026, (i) BVF beneficially owned 1,671,617 Shares, excluding 1,148,281 Shares underlying the Pre-Funded Warrants held by it, (ii) BVF2 beneficially owned 1,289,385 Shares, excluding 838,393 Shares underlying the Pre-Funded Warrants held by it, and (iii) Trading Fund OS beneficially owned 226,497 Shares, excluding 129,243 Shares underlying the Pre-Funded Warrants held by it.
BVF GP, as the general partner of BVF, may be deemed to beneficially own the 1,671,617 Shares beneficially owned by BVF.
BVF2 GP, as the general partner of BVF2, may be deemed to beneficially own the 1,289,385 Shares beneficially owned by BVF2.
Partners OS, as the general partner of Trading Fund OS, may be deemed to beneficially own the 226,497 Shares beneficially owned by Trading Fund OS.
BVF GPH, as the sole member of each of BVF GP and BVF2 GP, may be deemed to beneficially own the 2,961,002 Shares beneficially owned in the aggregate by BVF and BVF2.
Partners, as the investment manager of BVF, BVF2 and Trading Fund OS, and the sole member of Partners OS, may be deemed to beneficially own the 3,235,778 Shares beneficially owned in the aggregate by BVF, BVF2 and Trading Fund OS and held in the Partners Managed Account, including 48,279 Shares held in the Partners Managed Account, which excludes 31,617 Shares underlying the Pre-Funded Warrants held in the Partners Managed Account.
BVF Inc., as the general partner of Partners, may be deemed to beneficially own the 3,235,778 Shares beneficially owned by Partners.
Mr. Lampert, as a director and officer of BVF Inc., may be deemed to beneficially own the 3,235,778 Shares beneficially owned by BVF Inc.
The foregoing should not be construed in and of itself as an admission by any Reporting Person as to beneficial ownership of any Shares owned by another Reporting Person. BVF GP disclaims beneficial ownership of the Shares beneficially owned by BVF. BVF2 GP disclaims beneficial ownership of the Shares beneficially owned by BVF2. Partners OS disclaims beneficial ownership of the Shares beneficially owned by Trading Fund OS. BVF GPH disclaims beneficial ownership of the Shares beneficially owned by BVF and BVF2. Each of Partners, BVF Inc. and Mr. Lampert disclaims beneficial ownership of the Shares beneficially owned by BVF, BVF2 and Trading Fund OS and held in the Partners Managed Account, and the filing of this statement shall not be construed as an admission that any such person or entity is the beneficial owner of any such securities.
(b)
Percent of class:
The following percentages are based on 40,395,480 Shares outstanding as of May 4, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 5, 2026.
As of the close of business on June 30, 2026, (i) BVF beneficially owned approximately 4.1% of the outstanding Shares, (ii) BVF2 beneficially owned approximately 3.2% of the outstanding Shares, (iii) Trading Fund OS beneficially owned less than 1% of the outstanding Shares, (iv) BVF GP may be deemed to beneficially own approximately 4.1% of the outstanding Shares, (v) BVF2 GP may be deemed to beneficially own approximately 3.2% of the outstanding Shares, (vi) Partners OS may be deemed to beneficially own less than 1% of the outstanding Shares, (vii) BVF GPH may be deemed to beneficially own approximately 7.3% of the outstanding Shares, and (viii) each of Partners, BVF Inc. and Mr. Lampert may be deemed to beneficially own approximately 8.0% of the outstanding Shares (less than 1% of the outstanding Shares are held in the Partners Managed Account).
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See Cover Pages Items 5-9.
(ii) Shared power to vote or to direct the vote:
See Cover Pages Items 5-9.
(iii) Sole power to dispose or to direct the disposition of:
See Cover Pages Items 5-9.
(iv) Shared power to dispose or to direct the disposition of:
See Cover Pages Items 5-9.
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.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
Partners, BVF Inc. and Mr. Lampert share voting and dispositive power over the Shares beneficially owned by BVF, BVF2 and Trading Fund OS and held in the Partners Managed Account.
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.
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
See Exhibit 99.1 to the Schedule 13G filed with the Securities and Exchange Commission on May 27, 2026.
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.