X0202 SCHEDULE 13G/A 0001104659-24-119078 0001940272 XXXXXXXX LIVE 2 Common Stock, par value $0.01 per share 06/30/2026 0001372514 Kiora Pharmaceuticals, Inc. 49721T507 169 Saxony Rd. Suite 212 Encinitas CA 92024 Rule 13d-1(b) ADAR1 Capital Management, LLC b TX 0.00 472721.00 0.00 472721.00 472721.00 N 9.9 IA OO Includes (i) 143,999 shares of common stock, par value $0.01 per share ("Common Stock") held by ADAR1 Partners, LP, (ii) 23,942 shares of Common Stock held by Spearhead Insurance Solutions IDF, LLC and (iii) 304,780 shares of Common Stock underlying pre-funded warrants and milestone warrants held by ADAR1 Partners, LP and Spearhead Insurance Solutions IDF, LLC as of June 30, 2026. Excludes 3,435,508 shares of Common Stock underlying pre-funded warrants and milestone warrants held by ADAR1 Partners, LP and Spearhead Insurance Solutions IDF, LLC, the exchange and exercise of which are subject to 9.99% beneficial ownership limitations. As the investment manager of ADAR1 Partners, 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. Based on 4,427,167 shares of Common Stock of Kiora Pharmaceuticals, Inc. (the "Issuer") outstanding as of June 30, 2026, reported in the Issuer's 10-Q, filed with the Securities and Exchange Commission on August 7, 2026. ADAR1 Capital Management GP, LLC b TX 0.00 475378.00 0.00 475378.00 475378.00 N 9.9 OO (1) Includes (i) 143,999 shares of common stock, par value $0.01 per share ("Common Stock") held by ADAR1 Partners, LP and (ii) 331,379 shares of Common Stock underlying pre-funded warrants and milestone warrants held by ADAR1 Partners, LP as of June 30, 2026. Excludes 3,102,184 shares of Common Stock underlying pre-funded warrants and milestone warrants held by ADAR1 Partners, LP, the exchange and exercise of which are subject to 9.99% beneficial ownership limitations. As the general partner of ADAR1 Partners, LP, ADAR1 Capital Management GP, LLC may be deemed to indirectly beneficially own securities held by ADAR1 Partners, LP. Based on 4,427,167 shares of Common Stock of Kiora Pharmaceuticals, Inc. (the "Issuer") outstanding as of June 30, 2026, reported in the Issuer's 10-Q, filed with the Securities and Exchange Commission on August 7, 2026. Daniel Schneeberger b V8 0.00 472721.00 0.00 472721.00 472721.00 N 9.9 HC IN (1) Includes (i) 143,999 shares of common stock, par value $0.01 per share ("Common Stock") held by ADAR1 Partners, LP, (ii) 23,942 shares of Common Stock held by Spearhead Insurance Solutions IDF, LLC and (iii) 304,780 shares of Common Stock underlying pre-funded warrants and milestone warrants held by ADAR1 Partners, LP and Spearhead Insurance Solutions IDF, LLC as of June 30, 2026. Excludes 3,435,508 shares of Common Stock underlying pre-funded warrants and milestone warrants held by ADAR1 Partners, LP and Spearhead Insurance Solutions IDF, LLC, 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 and Spearhead Insurance Solutions IDF, LLC. Based on 4,427,167 shares of Common Stock of Kiora Pharmaceuticals, Inc. (the "Issuer") outstanding as of June 30, 2026, reported in the Issuer's 10-Q, filed with the Securities and Exchange Commission on August 7, 2026. Kiora Pharmaceuticals, Inc. 169 Saxony Rd. Suite 212, Encinitas, CA 92024 This Schedule is being filed on behalf of each of the following persons (each, a "Reporting Person" and collectively, the "Reporting Persons"): (i) ADAR1 Capital Management, LLC ("ADAR1 Capital Management"); (ii) ADAR1 Capital Management GP, LLC ("ADAR1 General Partner"); and (iii) Daniel Schneeberger ("Mr. Schneeberger"). The address of the principal business office of each of the Reporting Persons is 3503 Wild Cherry Drive, Building 9, Austin, Texas 78738. (i) ADAR1 Capital Management is a Texas limited liability company; (ii) ADAR1 General Partner is a Texas limited liability company; and (iii) Mr. Schneeberger is a citizen of Switzerland. N IA HC The information contained on the cover pages of this Schedule 13G is incorporated herein by reference. The information contained on the cover pages of this Schedule 13G is incorporated herein by reference. The information contained on the cover pages of this Schedule 13G is incorporated herein by reference. The information contained on the cover pages of this Schedule 13G is incorporated herein by reference. The information contained on the cover pages of this Schedule 13G is incorporated herein by reference. The information contained on the cover pages of this Schedule 13G is incorporated herein by reference. Y Y N Mr. Schneeberger is filing this Schedule 13G as a control person in respect of shares beneficially owned by ADAR1 Capital Management, an investment adviser as described in SS 240.13d-1(b)(1)(ii)(E). Y Y N 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. ADAR1 Capital Management, LLC /s/ Daniel Schneeberger 08/14/2026 ADAR1 Capital Management GP, LLC /s/ Daniel Schneeberger 08/14/2026 Daniel Schneeberger /s/ Daniel Schneeberger 08/14/2026