Bellevue Group AG, on behalf of its wholly owned subsidiary Bellevue Asset Management AG, reported beneficial ownership of 1,000,000 shares of Yarrow Bioscience, Inc. (YARW), with shared voting and dispositive power over that position. The reported 10.6% of the class is based on 9,437,693 Yarrow shares outstanding as of September 14, 2026, after giving effect to the closing of Yarrow’s equity offering on that date.
Yarrow Bioscience, Inc. (YARW) is reported to have a significant shareholder group led by Invus Public Equities, L.P. and related entities, which together with Raymond Debbane may be deemed to beneficially own 675,000 shares of common stock, representing 7.2% of the company as of mid-September 2026.
Invus Public Equities directly holds 591,472 shares, and Avicenna Life Sci Master Fund LP directly holds 83,528 shares, with various general partners and managing members, including Invus Public Equities Advisors, LLC, Invus Global Management, LLC, Siren, L.L.C., Avicenna Life Sci Master GP LLC and Ulys, L.L.C., deemed to share beneficial ownership through control relationships. The reporting group certifies that the securities were not acquired or held for the purpose of changing or influencing control of Yarrow Bioscience, other than activities solely in connection with a nomination under the specified rule.
Yarrow Bioscience, Inc. (YARW) entered into an underwriting agreement on September 10, 2026 to conduct a primary public offering of its common stock. The company agreed to issue and sell 5,769,231 shares at a public offering price of $26.00 per share, with Jefferies LLC, TD Securities (USA) LLC and Guggenheim Securities, LLC acting as representatives of the underwriters.
The underwriters received a 30‑day option to purchase up to an additional 865,384 shares, which they exercised in full on September 11, 2026. Yarrow Bioscience expects net proceeds of about $161.8 million from the offering, including the option shares, after underwriting discounts, commissions and estimated expenses. The transaction is being conducted under an effective shelf registration statement on Form S‑3, with a final prospectus supplement dated September 10, 2026, and is expected to close on September 14, 2026.
The underwriting agreement includes customary representations, conditions and indemnification provisions. The company’s directors and executive officers have entered into 60‑day lock‑up agreements, limiting sales or other dispositions of common stock without prior written consent of Jefferies LLC and TD Securities (USA) LLC.
Yarrow Bioscience, Inc. (YARW) is conducting a primary offering of 5,769,231 shares of common stock at $26.00 per share, for a gross offering size of $150,000,006, under its shelf registration statement. Underwriters hold a 30‑day option to purchase up to 865,384 additional shares. After underwriting discounts, Yarrow expects gross proceeds before expenses of $141.0 million, and estimates net proceeds of about $140.7 million, or $161.8 million if the option is fully exercised.
Shares outstanding are expected to be 8,572,309 after the base offering, or 9,437,693 if the option is fully exercised. Yarrow estimates $108.8 million in cash and cash equivalents as of August 31, 2026, up from $18.7 million as of June 30, 2026, and expects the net proceeds plus existing cash, cash equivalents and investments to fund operations into 2030, including completion of its Phase 2b Graves’ disease trial and preparatory work for its next planned thyroid eye disease study.
Yarrow Bioscience, Inc. (YARW) has filed a preliminary prospectus supplement for a primary underwritten offering of common stock and, for certain investors, pre-funded warrants to purchase common stock, together with registration of the shares issuable upon warrant exercise. Each pre-funded warrant has a de minimis exercise price of $0.0001 per share and is exercisable after issuance, subject to ownership limits.
Yarrow is a clinical-stage biotechnology company developing YB-101, a monoclonal antibody targeting the thyroid-stimulating hormone receptor for Graves’ disease and thyroid eye disease. The company preliminarily estimates cash and cash equivalents of $108.8 million as of August 31, 2026, up from $18.7 million as of June 30, 2026. Pro forma net tangible book value as of June 30, 2026 was $111.9 million, or $39.92 per share based on 2,803,078 pro forma shares outstanding.
Yarrow expects to use the net proceeds from this offering, together with existing cash, cash equivalents and investments, to fund research and development across its pipeline and for general corporate purposes. It states that these resources are expected to fund operations into 2030, including completion of its Phase 2b Graves’ disease trial and preparatory work for its next planned thyroid eye disease study, though additional capital will still be needed to reach regulatory approval and commercialization.
Yarrow Bioscience, Inc. (YARW) filed a Form 8-K to furnish an updated corporate overview and Business description following its merger with Yarrow Bioscience Operating Company Corp. and to provide an investor presentation focused on lead antibody YB-101 for Graves’ disease (GD) and thyroid eye disease (TED).
The company highlights YB-101 as a potential first-in-class anti-TSHR biologic with Fast Track Designation in GD, now in a combined Phase 2a/2b GD trial initiated in June 2026, supported by Phase 1 TED data from partner GenSci in China. Yarrow details a global license from GenSci, including a $70 million upfront payment, up to $1.295 billion in milestones, and tiered royalties in the low to low‑mid teens on ex‑China sales. The company reports $200 million raised to date and states its cash runway is expected to fund operations into 2028.
Yarrow Bioscience, Inc. has a significant shareholder group reported by ADAR1 Capital Management, LLC and Daniel Schneeberger. Private investment funds managed by ADAR1 Capital Management beneficially own 59,000 shares of Yarrow’s common stock, representing 8.8% of the class based on 668,327 shares outstanding as of June 30, 2026.
Both ADAR1 Capital Management and Daniel Schneeberger report shared voting and dispositive power over these 59,000 shares, with no sole voting or dispositive power. Schneeberger files as a control person of ADAR1 Capital Management, a Texas investment adviser, and the filing is made on a joint basis under a joint filing agreement.
venBio Global Strategic Fund V, L.P. and its general partner, venBio Global Strategic GP V, LLC, report their beneficial ownership in Yarrow Bioscience, Inc. common stock. As of July 27, 2026, they may have been deemed to beneficially own 294,139 shares, consisting of 152,881 shares held directly and 141,258 shares issuable within 60 days upon exercise of pre-funded warrants, subject to a blocker. As of the more recent reporting date, they may be deemed to beneficially own 279,340 shares, composed of the same 152,881 shares plus 126,459 shares issuable upon warrant exercise, also subject to the blocker.
These positions represent approximately 9.99% of Yarrow’s outstanding common stock at both reference dates, based on issuer-reported outstanding share counts adjusted for the exercisable warrants. The reporting persons share voting and dispositive power over 279,340 shares and have no sole voting or dispositive power.
Yarrow Bioscience, Inc. (formerly VYNE Therapeutics Inc.) filed an amended report to provide full historical and pro forma financial information for the July 27, 2026 merger with privately held Yarrow Bioscience, Inc. (now Yarrow Bioscience Operating Company Corp.). The company is a clinical-stage biotech developing YB-101, a monoclonal antibody targeting the thyroid stimulating hormone receptor for Graves’ disease and thyroid eye disease.
Pre-Merger Yarrow raised $100.0 million in Series A funding in December 2025 and paid a $70.0 million upfront fee to GenSci for an exclusive ex-China license to YB-101, with up to $1.295 billion in potential milestones and tiered royalties in the low to low‑mid teens. It recorded a net loss of $71.0 million from inception to December 31, 2025 and a further $9.3 million loss for the six months ended June 30, 2026.
Cash was $100.0 million at December 31, 2025 and $18.7 million at June 30, 2026, before considering $100.0 million of pre‑closing financing. Management states this liquidity is expected to fund operations for at least 12 months. The merger is accounted for as a reverse recapitalization with Yarrow as the accounting acquirer, based on an exchange ratio of 0.7171 VYNE shares per Yarrow share.