Commodore Capital Lp - Nov 14, 2022 Form 4 Insider Report for Satsuma Pharmaceuticals, Inc. (STSA)

Role: 10%+ Owner
Signature: /s/ Michael Kramarz, Managing Partner
Stock symbol: STSA
Transactions as of: Nov 14, 2022
Transactions value $: -$2,294,500
Form type: 4
Date filed: 11/16/2022, 03:05 PM
Previous filing: Nov 29, 2021
Next filing: Feb 21, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	STSA	Common Stock, par value $0.0001 per share	Sale	-$2.29M	-3.25M	-87.57%	$0.71	461K	Nov 14, 2022	By Commodore Capital Master LP	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Commodore Capital Lp is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	The shares are held directly by Commodore Capital Master LP ("Commodore Master"). Commodore Capital LP ("Commodore Capital") is the investment manager to Commodore Master. Michael Kramarz and Robert Egen Atkinson are the managing partners of Commodore Capital and exercise investment and dispositive power over the securities held by Commodore Master. Each of Commodore Capital, Mr. Kramarz and Mr. Atkinson disclaim beneficial ownership of such securities, except to the extent of their pecuniary interest therein. This report shall not be deemed an admission that Commodore Capital, Commodore Master, Mr. Kramarz and Mr. Atkinson or any other person is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
F2	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $0.596 to $0.7997 per share, inclusive. The Reporting Person undertakes to provide to Issuer, any security holder of Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.

Content

The shares are held directly by Commodore Capital Master LP ("Commodore Master"). Commodore Capital LP ("Commodore Capital") is the investment manager to Commodore Master. Michael Kramarz and Robert Egen Atkinson are the managing partners of Commodore Capital and exercise investment and dispositive power over the securities held by Commodore Master. Each of Commodore Capital, Mr. Kramarz and Mr. Atkinson disclaim beneficial ownership of such securities, except to the extent of their pecuniary interest therein. This report shall not be deemed an admission that Commodore Capital, Commodore Master, Mr. Kramarz and Mr. Atkinson or any other person is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $0.596 to $0.7997 per share, inclusive. The Reporting Person undertakes to provide to Issuer, any security holder of Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.