EcoR1 reports 7.9M First Tracks (TRAXV) shares after distribution
Rhea-AI Filing Summary
EcoR1 Capital, LLC filed an initial Form 3 for First Tracks Biotherapeutics, Inc., reporting indirect beneficial ownership of 7,880,094 shares of Common Stock held by its investment funds. A key fund, EcoR1 Capital Fund Qualified L.P., beneficially owns 7,401,972 shares. These shares were received by the funds through a pro rata distribution of First Tracks Common Stock by AnaptysBio, Inc. on April 20, 2026, which the filing states qualified for the exemption provided by Rule 16a-9 under the Exchange Act.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
EcoR1 Capital, LLC
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 7,880,094 shares (Indirect, See Note)
Footnotes (3)
- F1. The reporting persons are EcoR1 Capital, LLC ("EcoR1"), EcoR1 Capital Fund Qualified L.P. ("Qualified Fund") and Oleg Nodelman. EcoR1 is the general partner and investment adviser of private funds, including Qualified Fund (the "Funds"). Mr. Nodelman is the manager and controlling owner of EcoR1. EcoR1 is filing this Form 3 for itself, Mr. Nodelman and Qualified Fund. The reporting persons are filing this Form 3 jointly, but not as a group, and each expressly disclaims membership in a group within the meaning of Rule 13d-5(b) under the Securities Exchange Act of 1934. The Funds hold these securities directly for the benefit of their investors. EcoR1 may be deemed to indirectly beneficially own them as the investment adviser to the Funds. Mr. Nodelman may be deemed to indirectly beneficially own them as the control person of EcoR1. The reporting persons disclaim beneficial ownership of such securities except to the extent of their respective pecuniary interests therein.
- F2. The Funds received these shares as part of the pro rata distribution of the Issuer's Common Stock by AnaptysBio, Inc. on April 20, 2026, that qualified for the exemption provided by Rule 16a-9 under the Securities Exchange Act of 1934.
- F3. Qualified Fund beneficially owns 7,401,972 shares of Common Stock.
Key Figures
Indirectly beneficially owned shares: 7,880,094 shares
Qualified Fund holdings: 7,401,972 shares
Distribution date: April 20, 2026
3 metrics
Indirectly beneficially owned shares
7,880,094 shares
Total Common Stock reported on Form 3
Qualified Fund holdings
7,401,972 shares
Common Stock beneficially owned by EcoR1 Capital Fund Qualified L.P.
Distribution date
April 20, 2026
Pro rata distribution of First Tracks Common Stock by AnaptysBio, Inc.
Key Terms
pro rata distribution, Rule 16a-9, beneficially owns, beneficial ownership, +1 more
5 terms
pro rata distribution financial
"The Funds received these shares as part of the pro rata distribution of the Issuer's Common Stock by AnaptysBio, Inc."
A pro rata distribution is when a company or organization shares out money, assets, or benefits evenly among all eligible people based on their size or share. For example, if a company makes a profit and distributes it to shareholders, each person gets a portion proportional to how many shares they own. It ensures everyone gets their fair part based on their ownership or stake.
Rule 16a-9 regulatory
"that qualified for the exemption provided by Rule 16a-9 under the Securities Exchange Act of 1934."
beneficially owns financial
"Qualified Fund beneficially owns 7,401,972 shares of Common Stock."
Beneficially owns means a person or entity enjoys the economic benefits and control of a security even if the legal title or registration is held in another name. Think of it like having the keys and profits from a car that is registered to a friend: you use it, benefit from it, and make decisions about it even though the official paperwork lists someone else. For investors, this matters because it reveals who truly controls shares, affects voting power, potential conflicts of interest, and regulatory disclosure obligations.
beneficial ownership financial
"The reporting persons disclaim beneficial ownership of such securities except to the extent of their respective pecuniary interests therein."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interests financial
"disclaim beneficial ownership of such securities except to the extent of their respective pecuniary interests therein."
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What does EcoR1 Capital report on its Form 3 for First Tracks Biotherapeutics (TRAXV)?
EcoR1 Capital reports indirect beneficial ownership of 7,880,094 shares of First Tracks Biotherapeutics Common Stock. These shares are held by EcoR1-managed funds, with EcoR1 and Oleg Nodelman potentially deemed indirect beneficial owners through their advisory and control roles.