<SEC-DOCUMENT>0001193125-26-212047.txt : 20260507
<SEC-HEADER>0001193125-26-212047.hdr.sgml : 20260507
<ACCEPTANCE-DATETIME>20260507161959
ACCESSION NUMBER:		0001193125-26-212047
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20260507
DATE AS OF CHANGE:		20260507

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LeonaBio, Inc.
		CENTRAL INDEX KEY:			0001620463
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				453368487
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-91705
		FILM NUMBER:		26953743

	BUSINESS ADDRESS:	
		STREET 1:		18706 NORTH CREEK PARKWAY, SUITE 104
		CITY:			BOTHELL
		STATE:			WA
		ZIP:			98011
		BUSINESS PHONE:		(425) 620-8501

	MAIL ADDRESS:	
		STREET 1:		18706 NORTH CREEK PARKWAY, SUITE 104
		CITY:			BOTHELL
		STATE:			WA
		ZIP:			98011

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Athira Pharma, Inc.
		DATE OF NAME CHANGE:	20190916

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	M3 Biotechnology, Inc.
		DATE OF NAME CHANGE:	20140924

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PERCEPTIVE ADVISORS LLC
		CENTRAL INDEX KEY:			0001224962
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		51 ASTOR PLACE, 10TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003
		BUSINESS PHONE:		646-205-5300

	MAIL ADDRESS:	
		STREET 1:		51 ASTOR PLACE, 10TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003
</SEC-HEADER>
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<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
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      <liveTestFlag>LIVE</liveTestFlag>



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    <coverPageHeader>
      <amendmentNo>7</amendmentNo>
      <securitiesClassTitle>Common Stock, $0.0001 par value</securitiesClassTitle>
      <dateOfEvent>05/05/2026</dateOfEvent>
      <previouslyFiledFlag>false</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0001620463</issuerCIK>
        <issuerCusips>
          <issuerCusipNumber>04746L203</issuerCusipNumber>
        </issuerCusips>
        <issuerName>LeonaBio, Inc.</issuerName>
        <address>
          <street1 xmlns="http://www.sec.gov/edgar/common">18706 North Creek Parkway</street1>
          <street2 xmlns="http://www.sec.gov/edgar/common">Suite 104</street2>
          <city xmlns="http://www.sec.gov/edgar/common">Bothell</city>
          <stateOrCountry xmlns="http://www.sec.gov/edgar/common">WA</stateOrCountry>
          <zipCode xmlns="http://www.sec.gov/edgar/common">98011</zipCode>
        </address>
      </issuerInfo>
      <authorizedPersons>
        <notificationInfo>
          <personName>Alexander Rakitin</personName>
          <personPhoneNum>(646) 205-5345</personPhoneNum>
          <personAddress>
            <street1 xmlns="http://www.sec.gov/edgar/common">Perceptive Advisors LLC, 51 Astor Place</street1>
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            <city xmlns="http://www.sec.gov/edgar/common">New York</city>
            <stateOrCountry xmlns="http://www.sec.gov/edgar/common">NY</stateOrCountry>
            <zipCode xmlns="http://www.sec.gov/edgar/common">10003</zipCode>
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        <reportingPersonCIK>0001224962</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Perceptive Advisors LLC</reportingPersonName>
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        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>19.99</percentOfClass>
        <typeOfReportingPerson>IA</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001164426</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Joseph Edelman</reportingPersonName>
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        <percentOfClass>19.99</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
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      <reportingPersonInfo>
        <reportingPersonCIK>0001249675</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Perceptive Life Sciences Master Fund, Ltd.</reportingPersonName>
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        <fundType>WC</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>E9</citizenshipOrOrganization>
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        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>1552614</sharedDispositivePower>
        <aggregateAmountOwned>1552614</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>16.5</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001851820</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Perceptive Xontogeny Venture Fund II, LP</reportingPersonName>
        <memberOfGroup>b</memberOfGroup>
        <fundType>WC</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>352804</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>352804</sharedDispositivePower>
        <aggregateAmountOwned>352804</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>3.7</percentOfClass>
        <typeOfReportingPerson>PN</typeOfReportingPerson>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Common Stock, $0.0001 par value</securityTitle>
        <issuerName>LeonaBio, Inc.</issuerName>
        <issuerPrincipalAddress>
          <street1 xmlns="http://www.sec.gov/edgar/common">18706 North Creek Parkway</street1>
          <street2 xmlns="http://www.sec.gov/edgar/common">Suite 104</street2>
          <city xmlns="http://www.sec.gov/edgar/common">Bothell</city>
          <stateOrCountry xmlns="http://www.sec.gov/edgar/common">WA</stateOrCountry>
          <zipCode xmlns="http://www.sec.gov/edgar/common">98011</zipCode>
        </issuerPrincipalAddress>
      </item1>
      <item4>
        <transactionPurpose>Item 4 of the Schedule 13D is amended and supplemented as follows:

On May 5, 2026, Fred Callori was appointed to serve on the Issuer's board of directors. Mr. Callori is a Partner and Managing Director at Perceptive Advisors. </transactionPurpose>
      </item4>
      <item5>
        <percentageOfClassSecurities>Item 5 of the Schedule 13D is amended and supplemented as follows:

The information set forth in rows 11 and 13 of the cover pages to this Schedule 13D is incorporated by reference. The percentages set forth in row 13 are based on an aggregate of 9,393,514 shares of Common Stock outstanding, as disclosed by the Issuer in its Annual Report on Form 10-K filed with the SEC on March 31, 2026, and give effect to the exercise of warrants held by the Reporting Persons for an aggregate of 23,048 shares of Common Stock.</percentageOfClassSecurities>
        <numberOfShares>The information set forth in rows 7 through 10 of the cover pages to this Schedule 13D is incorporated by reference.

Mr. Edelman holds vested stock options to purchase shares of Common Stock in connection with his service as a director of the Issuer; however, such options are not included in the number of shares beneficially owned by Mr. Edelman or the other Reporting Persons because Mr. Edelman agreed on January 13, 2026 that such options cannot be exercised by Mr. Edelman without providing notice to the Issuer of at least 61 days to the extent that such exercise would result in Mr. Edelman or the other Reporting Persons beneficially owning more than 19.99% of the outstanding shares of Common Stock of the Issuer.

In addition, pursuant to the terms of the warrants and pre-funded warrants held by the Master Fund and PXV II, the Reporting Persons may not exercise such warrants or pre-funded warrants to the extent that such exercise would result in beneficial ownership in excess of 19.99% of the outstanding shares of Common Stock of the Issuer. As of the date hereof, the Beneficial Ownership Limitation permits the Master Fund or PXV II to exercise warrants and pre-funded warrants for an aggregate of 23,048 shares of Common Stock.</numberOfShares>
        <transactionDesc>None of the Reporting Persons has effected any transaction in shares of Common Stock in the past sixty days.</transactionDesc>
      </item5>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>Perceptive Advisors LLC</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Joseph Edelman</signature>
          <title>Joseph Edelman, Managing Member</title>
          <date>05/07/2026</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Joseph Edelman</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Joseph Edelman</signature>
          <title>Joseph Edelman</title>
          <date>05/07/2026</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Perceptive Life Sciences Master Fund, Ltd.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Joseph Edelman</signature>
          <title>Joseph Edelman, Managing Member</title>
          <date>05/07/2026</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Perceptive Xontogeny Venture Fund II, LP</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Joseph Edelman</signature>
          <title>Joseph Edelman, Managing Partner</title>
          <date>05/07/2026</date>
        </signatureDetails>
      </signaturePerson>
    </signatureInfo>
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