# EDGAR Filing Document

**Accession Number:** 0001191070
**File Stem:** 0000905148-25-004208
**Filing Date:** 2025-12
**Character Count:** 16242
**Document Hash:** f6d04391b6e48af20323956aada370fb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000905148-25-004208.hdr.sgml**: 20251202

**ACCESSION NUMBER**: 0000905148-25-004208

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251202

**DATE AS OF CHANGE**: 20251202

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Neuphoria Therapeutics Inc.
- **CENTRAL INDEX KEY:** 0001191070
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 000000000
- **STATE OF INCORPORATION:** C3
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-93208
- **FILM NUMBER:** 251541645

**BUSINESS ADDRESS:**
- **STREET 1:** 100 SUMMIT DR
- **CITY:** BURLINGTON
- **STATE:** MA
- **ZIP:** 01803
- **BUSINESS PHONE:** 781-439-5551

**MAIL ADDRESS:**
- **STREET 1:** 100 SUMMIT DR
- **CITY:** BURLINGTON
- **STATE:** MA
- **ZIP:** 01803

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BIONOMICS LIMITED/FI
- **DATE OF NAME CHANGE:** 20020920
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lynx1 Capital Management LP
- **CENTRAL INDEX KEY:** 0001910456

**ORGANIZATION NAME:**
- **EIN:** 851134656
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231
- **LEGAL ENTITY IDENTIFIER:** 5493003YH8Q5SHT17216

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** D81 CALLE C
- **STREET 2:** SUITE 301 PMB 1202
- **CITY:** DORADO
- **PROVINCE COUNTRY:** PR
- **ZIP:** 00646
- **BUSINESS PHONE:** 703-963-7214

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** D81 CALLE C
- **STREET 2:** SUITE 301 PMB 1202
- **CITY:** DORADO
- **PROVINCE COUNTRY:** PR
- **ZIP:** 00646

## Exhibit 99.4

------

<u>Exhibit 99.4</u>

#### Lynx1 Capital Management LP <br>
D81 Calle C

Suite 301, PMB 1202

Dorado, Puerto Rico 00646-2051

(929) 888-7476

December 2, 2025

The Board of Directors of Neuphoria Therapeutics Inc.

100 Summit Drive

Burlington, Massachusetts 01803

Attention: Alan Fisher, Chairman

Dear Mr. Fisher:

We are pleased to submit this recalculated non-binding indication of interest related to the potential acquisition (the "Acquisition") of Neuphoria Therapeutics Inc. ("you" or the "Company") by one or more managed investment funds and vehicles affiliated with Lynx1 Capital Management LP (collectively, "Lynx1" or "we").

As you are aware, on November 10, 2025, we submitted an initial non-binding indication of interest (the "Initial Offer") related to the Acquisition. As you are also aware, on November 18, 2025, we withdrew our Initial Offer due to the Company's public disclosures on November 14, 2025, that (1) it had increased its outstanding share count by 128% over a four-week period, such that it had 5,377,329 outstanding shares of common stock as of November 13, 2025 (whereas our Initial Offer assumed 3,298,042 shares outstanding) and (2) it was further registering an additional $20 million of securities for offer and sale under its at-the-market offering program. This registration indicated to us that there would be even further dilution to the Company's existing shareholders. As we have previously stated, we have continued to stand behind the economics of our Initial Offer, but the Company's share issuances since our Initial Offer made it impossible for us to determine a specific offer price that would capture the economics of those issuances. We understand however from the Company's recent public disclosures that it has now ceased issuing new shares, and so we are pleased to submit a recalculated non-binding indication of interest. It incorporates the Company's recently disclosed share dilution as well as the net cash proceeds to the Company from that dilution (based on figures in the Company's public disclosures), and it supersedes the Initial Offer in all respects.

As such, based on the information publicly available to us at this time, Lynx1 (through its affiliated investment funds and vehicles) proposes to acquire all of the outstanding shares of capital stock of the Company for a price of **<u>$4.75 per share</u>** in an all-cash transaction (the "Recalculated Initial Offer"). This Recalculated Initial Offer preserves the all-in economics of the Initial Offer, as adjusted for share issuances since October 27, 2025, the Company's more recent cash balance figure (as projected by us, based on the Company's public filings subsequent to the Initial Offer), and the Company's continued spending in defense of its proxy contest with us. The Recalculated Initial Offer constitutes a price per share premium of 16% over the closing price of the Company's common stock on Nasdaq on November 7, 2025, which was the last full trading day prior to the submission and public disclosure of the Initial Offer. This is lower (on a per share basis) than the 27% premium of the Initial Offer due (directly) to the Board's actions since our Initial Offer.

The Recalculated Initial Offer is based on (among other things) the following assumptions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Company will not issue any additional shares of stock during the pendency of its strategic-review process, through the closing of the Acquisition. Specifically, the Company will have 5,377,329 shares outstanding at the closing of the Acquisition, all of which will be shares of common stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Company will have unrestricted cash and cash equivalents at the closing of the Acquisition, net of our estimate of projected wind-down costs, of approximately $28 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• There will be no participation in the Acquisition by holders of stock options, warrants or any other non-common-stock securities of the Company.

Because our proposal includes an assumption about the amount of the Company's net unrestricted cash at the Acquisition closing, any delays to our consummating the Acquisition that result in a reduction in the actual amount of net unrestricted cash could in turn result in a reduction in our Acquisition price. Also, as with our Initial Offer, because we have sufficient capital available to us to fund the Acquisition, our ability to secure financing will not delay our process and will not be a condition for us to close the Acquisition.

As we stated in the Initial Offer, we are also willing to explore with you a transaction in which we acquire a select asset of the Company rather than the entire Company, if you believe that such a transaction is preferable to the Company's stockholders. This would be subject to our due diligence into the agreement with the collaboration partner and licensee to ensure that the Company's interest in the asset would not be terminated in connection with the transaction.

This letter and the proposal herein are not intended to constitute an offer capable of acceptance and do not create a binding obligation (to negotiate in good faith or otherwise) on Lynx1, the Company or any of their respective representatives. Those obligations would arise only upon our entering into a definitive purchase and related agreements relating to the Acquisition.

As with our Initial Offer, we believe that this proposal represents a highly beneficial outcome for the Company and its stockholders and are excited by the potential benefits that the Acquisition would yield for all stakeholders. We appreciate your consideration of this proposal and look forward to hearing from you as soon as possible, but no later than 12:00 p.m. (noon), New York time, on December 5, 2025.

Please do not hesitate to contact me with any questions or requests for additional information. We and our advisors remain ready to engage with you.

---

| |
|:---|
| Yours very truly,<br>|
| /s/ *Weston Nichols* |
| <br>Weston Nichols, Ph.D. |
| Chief Investment Officer, Lynx1 Capital Management LP |
| <u>NEUP@lynx1bio.com</u> |

---

------

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 4)**

**Neuphoria Therapeutics Inc.**

*(Name of Issuer)*

**Common Stock, par value $0.00001 per share**

*(Title of Class of Securities)*

**64136E102**

*(CUSIP Number)*

**Lynx1 Capital Management LP**<br>D81 Calle C, STE 301, PMB 1202<br>Dorado PR 00646-2051<br>929-888-7476

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**12/02/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **64136E102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Lynx1 Capital Management LP** | Name of reporting person<br>**Lynx1 Capital Management LP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**875328.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**875328.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**875328.00** | Aggregate amount beneficially owned by each reporting person<br>**875328.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**16.3%** | Percent of class represented by amount in Row (11)<br>**16.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** The percentage of Common Stock reported as beneficially owned by the Reporting Person is based on 5,377,329 shares of Common Stock outstanding as of November 13, 2025, as reported in the Company's quarterly report on Form 10-Q for the quarterly period ended September 30, 2025, filed with the SEC on November 14, 2025.

| **CUSIP No.** | **64136E102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Weston Nichols** | Name of reporting person<br>**Weston Nichols** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**875328.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**875328.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**875328.00** | Aggregate amount beneficially owned by each reporting person<br>**875328.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**16.3%** | Percent of class represented by amount in Row (11)<br>**16.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** The percentage of Common Stock reported as beneficially owned by the Reporting Person is based on 5,377,329 shares of Common Stock outstanding as of November 13, 2025, as reported in the Company's quarterly report on Form 10-Q for the quarterly period ended September 30, 2025, filed with the SEC on November 14, 2025.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, par value $0.00001 per share

**(b) Name of Issuer:**
Neuphoria Therapeutics Inc.

**(c) Address of Issuer's Principal Executive Offices:**
100 SUMMIT DR, BURLINGTON, MA, 01803

Pursuant to Rule 13d-2(a) under the Securities Exchange Act of 1934, as amended, this Amendment No. 4 to the Schedule 13D ("Amendment No. 4") amends certain items of the Schedule 13D filed with the Securities and Exchange Commission (the "SEC") on October 23, 2025 (the "Original Schedule 13D"), as amended and supplemented by Amendment No. 1 filed with the SEC on November 10, 2025, Amendment No. 2 filed with the SEC on November 18, 2025, and Amendment No. 3 filed with the SEC on November 28, 2025 (collectively, the "Schedule 13D"), relating to the Common Stock, par value $0.00001 per share (the "Common Stock"), of Neuphoria Therapeutics Inc. (the "Issuer" or the "Company").  All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule 13D.  Except as specifically provided herein, this Amendment No. 4 does not modify any of the information previously reported in the Schedule 13D.

**Item 4. Purpose of Transaction**

Item 4 of the Schedule 13D is hereby amended and supplemented as follows:

On December 2, 2025, the Reporting Persons delivered a letter to the Board which contained a new non-binding proposal (the "Recalculated Initial Offer") to acquire, through one or more managed investment funds and vehicles affiliated with the Investment Manager, all of the outstanding shares of capital stock of the Company for a price of $4.75 per share in cash.

The foregoing description of the Recalculated Initial Offer does not purport to be complete and is qualified in its entirety by reference to the Recalculated Initial Offer, a copy of which is filed as an exhibit hereto and is incorporated herein by reference.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Item 6 of the Schedule 13D is hereby amended and supplemented as follows:

The response to Item 4 of this Amendment No. 4 is incorporated herein by reference.

### 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.

**Reporting Person:** Lynx1 Capital Management LP

**Signature:** /s/ Weston Nichols

**Name/Title:** By: Lynx1 Capital Management GP LLC, General Partner, By: Weston Nichols, Sole Member

**Date:** 12/02/2025

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.

**Reporting Person:** Weston Nichols

**Signature:** /s/ Weston Nichols

**Name/Title:** Weston Nichols, individually

**Date:** 12/02/2025