Coastlands Capital LP has filed an amendment to its previous Schedule 13G, indicating a significant change in its ownership status of Azora Therapeutics, Inc. The filing, dated November 2, 2026, shows that Coastlands now holds 4.99% of Azora's common stock, marking a decrease from a previous ownership level above 5%. This adjustment is noteworthy as it reflects a strategic shift for Coastlands and may influence investor sentiment within the biotechnology sector.

Coastlands Capital LP is a Delaware limited partnership based in San Francisco, California. It focuses on investment management and advisory services. The firm has been actively involved in reporting its ownership stakes in various companies, with recent filings indicating a focus on Azora Therapeutics, a biotechnology firm based in Glen Allen, Virginia. Azora specializes in innovative therapies, particularly in the field of rare diseases.

The recent filing reveals that Coastlands Capital Partners LP, along with other related entities, beneficially owns a total of 655,975 shares of Azora's common stock. This number represents a 4.99% ownership stake based on 12,878,129 shares outstanding as of the filing date. The amendment also indicates that this filing serves as an exit filing since Coastlands no longer holds more than 5% of any class of securities of Azora.

This reduction in ownership could have implications for both Coastlands and Azora. For Coastlands, this move may indicate a strategic reevaluation of its investment in Azora, possibly in response to market conditions or company performance. For Azora, the change in ownership could affect investor perceptions and market dynamics, especially as the biotechnology industry continues to evolve.

Looking ahead, it remains unclear what specific actions Coastlands may take following this filing. The filing does not specify any upcoming votes or further disclosures. However, the exit from a significant ownership position may prompt other investors to reassess their stakes in Azora and similar biotechnology firms.