ADAR1 Discloses 9.9% Stake in Inhibikase (IKT) via Schedule 13G/A

Q: Does the Schedule 13G/A include warrants in the ownership total?

Yes. The filing includes shares underlying milestone warrants in the reported totals, while excluding certain warrants that are subject to a 9.99% beneficial ownership limitation .

Q: Who filed the Schedule 13G/A for IKT and who signed it?

The filing was made on behalf of ADAR1 Capital Management, LLC; ADAR1 Capital Management GP, LLC; and Daniel Schneeberger . It is signed by Daniel Schneeberger as manager and in his individual capacity on 08/14/2025.

Q: What is the total number of IKT shares outstanding used for the percentage calculation?

The percentage is based on 74,341,540 shares of common stock outstanding as of June 30, 2025, per the issuer's referenced quarterly report.

[SCHEDULE 13G/A] Inhibikase Therapeutics, Inc. SEC Filing

Filing Impact

(Low)

Filing Sentiment

(Neutral)

Form Type

SCHEDULE 13G/A

Rhea-AI Filing Summary

ADAR1 entities and manager Daniel Schneeberger report collectively holding 7,682,503 to 7,737,694 shares of Inhibikase Therapeutics, Inc. (IKT), representing 9.9% of the outstanding common stock as of June 30, 2025. The filing breaks down holdings across ADAR1 Partners, LP; Spearhead Insurance Solutions IDF, LLC; and ADAR1 SPV I, LP, and includes both issued shares and shares underlying milestone warrants. The filing also discloses that additional milestone warrants (several million shares) are excluded from beneficial ownership calculations because their exercise or exchange is subject to a 9.99% ownership limitation. The report is filed under Schedule 13G/A and is signed by Daniel Schneeberger as manager and in his individual capacity.

Positive

Clear, detailed disclosure of beneficial ownership totaling 7,682,503鈥�7,737,694 shares representing 9.9% of IKT outstanding.
Breakout of holdings includes issued shares and shares underlying milestone warrants, improving investor transparency.
Warrant exercise caps disclosed (9.99% limitations) which limit sudden increases in beneficial ownership and potential control shifts.

Negative

Significant portion of exposure is via milestone warrants, which introduces uncertainty about eventual dilution and timing of share issuance.
Excluded additional warrants totaling millions of shares from the reported beneficial ownership due to exercise limits, which could mask potential future changes if contractual limits change.

Insights

TL;DR: ADAR1 disclosures show near-10% stake in IKT with significant warrant exposure but capped by 9.99% ownership limits.

The Schedule 13G/A documents that ADAR1-affiliated entities and Mr. Schneeberger beneficially own roughly 7.68鈥�7.74 million shares, equal to 9.9% of IKT鈥檚 74.34 million shares outstanding as of June 30, 2025. Notable is the split between issued shares and shares underlying milestone warrants; several additional warrants were explicitly excluded because of contractual 9.99% ownership caps. For investors, this means ADAR1 is a large, disclosed stakeholder but their ability to increase ownership via these warrants is contractually constrained, limiting potential near-term concentration changes.

TL;DR: The filing clarifies beneficial ownership and managerial relationships without indicating control or intent to influence issuer control.

The disclosure identifies ADAR1 Capital Management as investment manager and ADAR1 Capital Management GP, LLC as general partner, with Mr. Schneeberger potentially deemed to beneficially own securities indirectly. The certification states holdings were acquired in the ordinary course of business and not to influence control, consistent with a passive claimant under Schedule 13G. The presence of ownership limits on warrants reduces governance risk from a sudden ownership accumulation by these parties.

08/14/2025 - 08:27 PM

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Inhibikase Therapeutics, Inc.

(Name of Issuer)

Common Stock, $0.001 par value

(Title of Class of Securities)

45719W205

(CUSIP Number)

06/30/2025

(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)

SCHEDULE 13G

CUSIP No.

45719W205

Names of Reporting Persons

ADAR1 Capital Management, LLC

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

Sec Use Only

Citizenship or Place of Organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 7,682,503.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,682,503.00

Aggregate Amount Beneficially Owned by Each Reporting Person

7,682,503.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Percent of class represented by amount in row (9)

9.9 %

Type of Reporting Person (See Instructions)

IA, OO

Comment for Type of Reporting Person: Includes (i) 4,113,888 shares of common stock, par value $0.001 per share ("Common Stock") held by ADAR1 Partners, LP, (ii) 497,268 shares of Common Stock held by Spearhead Insurance Solutions IDF, LLC, (iii) 510,949 shares of Common Stock held by ADAR1 SPV I, LP, and 2,560,398 shares of Common Stock underlying milestone warrants held by ADAR1 Partners, LP, Spearhead Insurance Solutions IDF, LLC, and ADAR1 SPV I, LP as of June 30, 2025. Excludes 4,693,058 shares of Common Stock underlying milestone warrants held by ADAR1 Partners, LP, Spearhead Insurance Solutions IDF, LLC, and ADAR1 SPV I, LP, the exchange and exercise of which are subject to 9.99% beneficial ownership limitations. As the investment manager of ADAR1 Partners, LP and ADAR1 SPV I, LP and as the sub-advisor of Spearhead Insurance Solutions IDF, LLC, ADAR1 Capital Management, LLC may be deemed to indirectly beneficially own securities held by ADAR1 Partners, LP and Spearhead Insurance Solutions IDF, LLC, and ADAR1 SPV I, LP. Based on 74,341,540 shares of Common Stock of Inhibikase Therapeutics, Inc. (the "Issuer") outstanding as of June 30, 2025 reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025, filed with the SEC on May 14, 2025.

SCHEDULE 13G

CUSIP No.

45719W205

Names of Reporting Persons

ADAR1 Capital Management GP, LLC

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

Sec Use Only

Citizenship or Place of Organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 7,737,694.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,737,694.00

Aggregate Amount Beneficially Owned by Each Reporting Person

7,737,694.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Percent of class represented by amount in row (9)

9.9 %

Type of Reporting Person (See Instructions)

Comment for Type of Reporting Person: Includes (i) 4,113,888 shares of common stock, par value $0.001 per share ("Common Stock") held by ADAR1 Partners, LP, (ii) 510,949 shares of Common Stock held by ADAR1 SPV I, LP, and (iii) 3,112,857 shares of Common Stock underlying milestone warrants held by ADAR Partners, LP and ADAR1 SPV I, LP as of June 30, 2025. Excludes 3,422,498 shares of Common Stock underlying milestone warrants held by ADAR Partners, LP and ADAR1 SPV I, LP, the exchange and exercise of which are subject to 9.99% beneficial ownership limitations. As the general partner of ADAR1 Partners, LP and ADAR1 SPV I, LP, ADAR1 Capital Management GP, LLC may be deemed to indirectly beneficially own securities held by ADAR1 Partners, LP and ADAR1 SPV I, LP. Based on 74,341,540 shares of Common Stock of Inhibikase Therapeutics, Inc. (the "Issuer") outstanding as of June 30, 2025 reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025, filed with the SEC on May 14, 2025.

SCHEDULE 13G

CUSIP No.

45719W205

Names of Reporting Persons

Daniel Schneeberger

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

Sec Use Only

Citizenship or Place of Organization

SWITZERLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 7,682,503.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,682,503.00

Aggregate Amount Beneficially Owned by Each Reporting Person

7,682,503.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Percent of class represented by amount in row (9)

9.9 %

Type of Reporting Person (See Instructions)

HC, IN

Comment for Type of Reporting Person: (1) Includes (i) 4,113,888 shares of common stock, par value $0.001 per share ("Common Stock") held by ADAR1 Partners, LP, (ii) 497,268 shares of Common Stock held by Spearhead Insurance Solutions IDF, LLC, (iii) 510,949 shares of Common Stock held by ADAR1 SPV I, LP, and 2,560,398 shares of Common Stock underlying milestone warrants held by ADAR Partners, LP, Spearhead Insurance Solutions IDF, LLC, and ADAR1 SPV I, LP as of June 30, 2025. Excludes 4,693,058 shares of Common Stock underlying milestone warrants held by ADAR Partners, LP, Spearhead Insurance Solutions IDF, LLC, and ADAR1 SPV I, LP, the exchange and exercise of which are subject to 9.99% beneficial ownership limitations. As the manager of ADAR1 Capital Management, LLC and ADAR1 Capital Management GP, LLC, Mr. Schneeberger may be deemed to indirectly beneficially own securities held by ADAR1 Partners, LP, Spearhead Insurance Solutions IDF, LLC, and ADAR1 SPV I, LP. Based on 74,341,540 shares of Common Stock of Inhibikase Therapeutics, Inc. (the "Issuer") outstanding as of June 30, 2025 reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025, filed with the SEC on May 14, 2025.

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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.

ADAR1 Capital Management, LLC

Signature:	/s/ Daniel Schneeberger
Name/Title:	Daniel Schneeberger, Manager
Date:	08/14/2025

ADAR1 Capital Management GP, LLC

Signature:	/s/ Daniel Schneeberger
Name/Title:	Daniel Schneeberger, Manager
Date:	08/14/2025

Daniel Schneeberger

Signature:	/s/ Daniel Schneeberger
Name/Title:	Daniel Schneeberger, in his individual capacity
Date:	08/14/2025

Source:

FAQ

How many Inhibikase (IKT) shares do ADAR1-related persons beneficially own?

ADAR1-related persons report beneficial ownership of between 7,682,503 and 7,737,694 shares, representing 9.9% of IKT outstanding as of June 30, 2025.

Does the Schedule 13G/A include warrants in the ownership total?

Yes. The filing includes shares underlying milestone warrants in the reported totals, while excluding certain warrants that are subject to a 9.99% beneficial ownership limitation.

Who filed the Schedule 13G/A for IKT and who signed it?

The filing was made on behalf of ADAR1 Capital Management, LLC; ADAR1 Capital Management GP, LLC; and Daniel Schneeberger. It is signed by Daniel Schneeberger as manager and in his individual capacity on 08/14/2025.

What is the total number of IKT shares outstanding used for the percentage calculation?

The percentage is based on 74,341,540 shares of common stock outstanding as of June 30, 2025, per the issuer's referenced quarterly report.

Does the filing indicate intent to influence control of Inhibikase?

No. The certification states the securities were acquired and are held in the ordinary course of business and not to change or influence control of the issuer.

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[SCHEDULE 13G/A] Inhibikase Therapeutics, Inc. SEC Filing

Insights

FAQ

How many Inhibikase (IKT) shares do ADAR1-related persons beneficially own?

Does the Schedule 13G/A include warrants in the ownership total?

Who filed the Schedule 13G/A for IKT and who signed it?

What is the total number of IKT shares outstanding used for the percentage calculation?

Does the filing indicate intent to influence control of Inhibikase?

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[SCHEDULE 13G/A] Inhibikase Therapeutics, Inc. SEC Filing

Insights

Securities Analyst neutral

Corporate Governance Expert neutral

FAQ

How many Inhibikase (IKT) shares do ADAR1-related persons beneficially own?

Does the Schedule 13G/A include warrants in the ownership total?

Who filed the Schedule 13G/A for IKT and who signed it?

What is the total number of IKT shares outstanding used for the percentage calculation?

Does the filing indicate intent to influence control of Inhibikase?

NASDAQ:IKT

IKT Rankings

IKT Latest News

IKT Latest SEC Filings

IKT Stock Data