Eli Lilly discloses 5,480,872-share stake in TRex Bio after IPO allocation
A Schedule 13D filed by Eli Lilly and Company on 16 October 2026 shows the drugmaker holds 5,480,872 shares of TRex Bio, Inc., built from preferred-stock conversions and an IPO purchase, with a Lilly employee sitting on TRex Bio's board.
Written and published automatically by the Loro Intelligence Engine from public records. No editor reviewed this before publication.
A Schedule 13D filed by Eli Lilly and Company on 16 October 2026 shows the company beneficially owns 5,480,872 shares of TRex Bio, Inc., comprising shares from Series A and Series B preferred stock conversions and 875,000 shares bought in TRex Bio's IPO at $14.00 per share for about $12.3 million, with Lilly employee Julie Gilmore serving on TRex Bio's board.
- Total shares disclosed
- 5,480,872
- Shares from Series A conversion
- 2,510,411
- Shares from Series B conversion
- 2,095,461
- IPO shares purchased / price
- 875,000 shares at $14.00 per share (~$12.3 million)
- Board representative named
- Julie Gilmore, Eli Lilly employee
Eli Lilly and Company disclosed in the Schedule 13D filed on 16 October 2026 that it beneficially owns 5,480,872 shares of common stock in TRex Bio, Inc. The filing does not state what percentage of TRex Bio's outstanding shares this stake represents.
According to the filing, the holding consists of 2,510,411 shares issued on conversion of Series A redeemable convertible preferred stock, 2,095,461 shares issued on conversion of Series B redeemable convertible preferred stock, and 875,000 shares purchased by Lilly in TRex Bio's initial public offering at $14.00 per share, for an aggregate purchase price of approximately $12.3 million funded from cash on hand. The filing states the IPO was conducted pursuant to Rule 424(b)(4) of the Securities Act on 9 October 2026.
Item 4 of the filing states that Lilly acquired the securities for investment purposes and intends to continue reviewing its investment on an ongoing basis. The filing says Lilly currently has no specific plan or proposal under Items 4(a) through 4(j) of Schedule 13D but may, from time to time, acquire additional shares or dispose of its holding, engage in hedging transactions, or hold discussions with TRex Bio's directors, officers, management, stockholders or other interested parties on operational, financial or strategic matters.
The filing identifies Julie Gilmore, a current employee of Eli Lilly, as a member of TRex Bio's board of directors. It states that Lilly does not have any current agreement giving it the contractual right to maintain Ms Gilmore's board position or to designate a replacement for her.
SEC EDGAR records show Eli Lilly filed multiple Form 4 insider transaction reports on 22 September, 11 September, 4 September and 18 August 2026, and that TRex Bio was the subject of an earlier Schedule 13D filed on 30 July 2026. The 16 October filing does not reference these earlier filings or explain any connection between them.
Primary sources
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