SCHEDULE 13G 0001863769 XXXXXXXX LIVE Common Stock 12/13/2024 0001583648 Palvella Therapeutics, Inc. 697947109 125 Strafford Ave, Suite 360 Wayne PA 19087 Rule 13d-1(c) Frazier Life Sciences Public Fund, L.P. DE 0.00 440575.00 0.00 440575.00 440575.00 3.9 PN The shares consist of 440,575 shares of Common Stock held directly by Frazier Life Sciences Public Fund, L.P. FHMLSP, L.P. is the general partner of Frazier Life Sciences Public Fund, L.P. and FHMLSP, L.L.C. is the general partner of FHMLSP, L.P. Patrick J. Heron, James N. Topper, Albert Cha and James Brush are the members of FHMLSP, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences Public Fund, L.P. The percentage is calculated based on 11,221,307 shares of Common Stock outstanding on December 13, 2024, as set forth in the Issuer's Current Report on Form 8-K filed with the SEC on December 16, 2024. FHMLSP, L.P. DE 0.00 440575.00 0.00 440575.00 440575.00 3.9 PN The shares consist of 440,575 shares of Common Stock held directly by Frazier Life Sciences Public Fund, L.P. FHMLSP, L.P. is the general partner of Frazier Life Sciences Public Fund, L.P. and FHMLSP, L.L.C. is the general partner of FHMLSP, L.P. Patrick J. Heron, James N. Topper, Albert Cha and James Brush are the members of FHMLSP, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences Public Fund, L.P. The percentage is calculated based on 11,221,307 shares of Common Stock outstanding on December 13, 2024, as set forth in the Issuer's Current Report on Form 8-K filed with the SEC on December 16, 2024. FHMLSP, L.L.C. DE 0.00 440575.00 0.00 440575.00 440575.00 3.9 OO The shares consist of 440,575 shares of Common Stock held directly by Frazier Life Sciences Public Fund, L.P. FHMLSP, L.P. is the general partner of Frazier Life Sciences Public Fund, L.P. and FHMLSP, L.L.C. is the general partner of FHMLSP, L.P. Patrick J. Heron, James N. Topper, Albert Cha and James Brush are the members of FHMLSP, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences Public Fund, L.P. The percentage is calculated based on 11,221,307 shares of Common Stock outstanding on December 13, 2024, as set forth in the Issuer's Current Report on Form 8-K filed with the SEC on December 16, 2024. Frazier Life Sciences Public Overage Fund, L.P. DE 0.00 129905.00 0.00 129905.00 129905.00 1.2 PN The shares consist of 129,905 shares of Common Stock held directly by Frazier Life Sciences Public Overage Fund, L.P. FHMLSP Overage, L.P. is the general partner of Frazier Life Sciences Public Overage Fund, L.P. and FHMLSP Overage, L.L.C. is the general partner of FHMLSP Overage, L.P. Patrick J. Heron, James N. Topper, Albert Cha and James Brush are the members of FHMLSP Overage, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences Public Overage Fund, L.P. The percentage is calculated based on 11,221,307 shares of Common Stock outstanding on December 13, 2024, as set forth in the Issuer's Current Report on Form 8-K filed with the SEC on December 16, 2024. FHMLSP Overage, L.P. DE 0.00 129905.00 0.00 129905.00 129905.00 1.2 PN The shares consist of 129,905 shares of Common Stock held directly by Frazier Life Sciences Public Overage Fund, L.P. FHMLSP Overage, L.P. is the general partner of Frazier Life Sciences Public Overage Fund, L.P. and FHMLSP Overage, L.L.C. is the general partner of FHMLSP Overage, L.P. Patrick J. Heron, James N. Topper, Albert Cha and James Brush are the members of FHMLSP Overage, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences Public Overage Fund, L.P. The percentage is calculated based on 11,221,307 shares of Common Stock outstanding on December 13, 2024, as set forth in the Issuer's Current Report on Form 8-K filed with the SEC on December 16, 2024. FHMLSP Overage, L.L.C. DE 0.00 129905.00 0.00 129905.00 129905.00 1.2 OO The shares consist of 129,905 shares of Common Stock held directly by Frazier Life Sciences Public Overage Fund, L.P. FHMLSP Overage, L.P. is the general partner of Frazier Life Sciences Public Overage Fund, L.P. and FHMLSP Overage, L.L.C. is the general partner of FHMLSP Overage, L.P. Patrick J. Heron, James N. Topper, Albert Cha and James Brush are the members of FHMLSP Overage, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences Public Overage Fund, L.P. The percentage is calculated based on 11,221,307 shares of Common Stock outstanding on December 13, 2024, as set forth in the Issuer's Current Report on Form 8-K filed with the SEC on December 16, 2024. Frazier Life Sciences X, L.P. DE 0.00 2648.00 0.00 2648.00 2648.00 0.0 PN The shares consist of 2,648 shares of Common Stock held directly by Frazier Life Sciences X, L.P. FHMLS X, L.P. is the general partner of Frazier Life Sciences X, L.P. and FHMLS X, L.L.C. is the general partner of FHMLS X, L.P. Patrick J. Heron and James N. Topper are the members of FHMLS X, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences X, L.P. The percentage is calculated based on 11,221,307 shares of Common Stock outstanding on December 13, 2024, as set forth in the Issuer's Current Report on Form 8-K filed with the SEC on December 16, 2024. FHMLS X, L.P. DE 0.00 2648.00 0.00 2648.00 2648.00 0.0 PN The shares consist of 2,648 shares of Common Stock held directly by Frazier Life Sciences X, L.P. FHMLS X, L.P. is the general partner of Frazier Life Sciences X, L.P. and FHMLS X, L.L.C. is the general partner of FHMLS X, L.P. Patrick J. Heron and James N. Topper are the members of FHMLS X, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences X, L.P. The percentage is calculated based on 11,221,307 shares of Common Stock outstanding on December 13, 2024, as set forth in the Issuer's Current Report on Form 8-K filed with the SEC on December 16, 2024. FHMLS X, L.L.C. DE 0.00 2648.00 0.00 2648.00 2648.00 0.0 OO The shares consist of 2,648 shares of Common Stock held directly by Frazier Life Sciences X, L.P. FHMLS X, L.P. is the general partner of Frazier Life Sciences X, L.P. and FHMLS X, L.L.C. is the general partner of FHMLS X, L.P. Patrick J. Heron and James N. Topper are the members of FHMLS X, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences X, L.P. The percentage is calculated based on 11,221,307 shares of Common Stock outstanding on December 13, 2024, as set forth in the Issuer's Current Report on Form 8-K filed with the SEC on December 16, 2024. Frazier Life Sciences XI, L.P. DE 0.00 2764.00 0.00 2764.00 2764.00 0.0 PN The shares consist of 2,764 shares of Common Stock held directly by Frazier Life Sciences XI, L.P. FHMLS XI, L.P. is the general partner of Frazier Life Sciences XI, L.P. and FHMLS XI, L.L.C. is the general partner of FHMLS XI, L.P. Patrick J. Heron, James N. Topper and Daniel Estes are the members of FHMLS XI, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences XI, L.P. The percentage is calculated based on 11,221,307 shares of Common Stock outstanding on December 13, 2024, as set forth in the Issuer's Current Report on Form 8-K filed with the SEC on December 16, 2024. FHMLS XI, L.P. DE 0.00 2764.00 0.00 2764.00 2764.00 0.0 PN The shares consist of 2,764 shares of Common Stock held directly by Frazier Life Sciences XI, L.P. FHMLS XI, L.P. is the general partner of Frazier Life Sciences XI, L.P. and FHMLS XI, L.L.C. is the general partner of FHMLS XI, L.P. Patrick J. Heron, James N. Topper and Daniel Estes are the members of FHMLS XI, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences XI, L.P. The percentage is calculated based on 11,221,307 shares of Common Stock outstanding on December 13, 2024, as set forth in the Issuer's Current Report on Form 8-K filed with the SEC on December 16, 2024. FHMLS XI, L.L.C. DE 0.00 2764.00 0.00 2764.00 2764.00 0.0 OO The shares consist of 2,764 shares of Common Stock held directly by Frazier Life Sciences XI, L.P. FHMLS XI, L.P. is the general partner of Frazier Life Sciences XI, L.P. and FHMLS XI, L.L.C. is the general partner of FHMLS XI, L.P. Patrick J. Heron, James N. Topper and Daniel Estes are the members of FHMLS XI, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences XI, L.P. The percentage is calculated based on 11,221,307 shares of Common Stock outstanding on December 13, 2024, as set forth in the Issuer's Current Report on Form 8-K filed with the SEC on December 16, 2024. James N. Topper b X1 0.00 575892.00 0.00 575892.00 575892.00 5.1 IN The shares consist of (i) 440,575 shares of Common Stock held directly by Frazier Life Sciences Public Fund, L.P., (ii) 129,905 shares of Common Stock held directly by Frazier Life Sciences Public Overage Fund, L.P., (iii) 2,648 shares of Common Stock held directly by Frazier Life Sciences X, L.P., and (iv) 2,764 shares of Common Stock held directly by Frazier Life Sciences XI, L.P. FHMLSP, L.P. is the general partner of Frazier Life Sciences Public Fund, L.P. and FHMLSP, L.L.C. is the general partner of FHMLSP, L.P. Patrick J. Heron, James N. Topper, Albert Cha and James Brush are the members of FHMLSP, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences Public Fund, L.P. FHMLSP Overage, L.P. is the general partner of Frazier Life Sciences Public Overage Fund, L.P. and FHMLSP Overage, L.L.C. is the general partner of FHMLSP Overage, L.P. Patrick J. Heron, James N. Topper, Albert Cha and James Brush are the members of FHMLSP Overage, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences Public Overage Fund, L.P. FHMLS X, L.P. is the general partner of Frazier Life Sciences X, L.P. and FHMLS X, L.L.C. is the general partner of FHMLS X, L.P. Patrick J. Heron and James N. Topper are the members of FHMLS X, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences X, L.P. FHMLS XI, L.P. is the general partner of Frazier Life Sciences XI, L.P. and FHMLS XI, L.L.C. is the general partner of FHMLS XI, L.P. Patrick J. Heron, James N. Topper and Daniel Estes are the members of FHMLS XI, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences XI, L.P. The percentage is calculated based on 11,221,307 shares of Common Stock outstanding on December 13, 2024, as set forth in the Issuer's Current Report on Form 8-K filed with the SEC on December 16, 2024. Patrick J. Heron X1 0.00 575892.00 0.00 575892.00 575892.00 5.1 IN The shares consist of (i) 440,575 shares of Common Stock held directly by Frazier Life Sciences Public Fund, L.P., (ii) 129,905 shares of Common Stock held directly by Frazier Life Sciences Public Overage Fund, L.P., (iii) 2,648 shares of Common Stock held directly by Frazier Life Sciences X, L.P., and (iv) 2,764 shares of Common Stock held directly by Frazier Life Sciences XI, L.P. FHMLSP, L.P. is the general partner of Frazier Life Sciences Public Fund, L.P. and FHMLSP, L.L.C. is the general partner of FHMLSP, L.P. Patrick J. Heron, James N. Topper, Albert Cha and James Brush are the members of FHMLSP, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences Public Fund, L.P. FHMLSP Overage, L.P. is the general partner of Frazier Life Sciences Public Overage Fund, L.P. and FHMLSP Overage, L.L.C. is the general partner of FHMLSP Overage, L.P. Patrick J. Heron, James N. Topper, Albert Cha and James Brush are the members of FHMLSP Overage, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences Public Overage Fund, L.P. FHMLS X, L.P. is the general partner of Frazier Life Sciences X, L.P. and FHMLS X, L.L.C. is the general partner of FHMLS X, L.P. Patrick J. Heron and James N. Topper are the members of FHMLS X, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences X, L.P. FHMLS XI, L.P. is the general partner of Frazier Life Sciences XI, L.P. and FHMLS XI, L.L.C. is the general partner of FHMLS XI, L.P. Patrick J. Heron, James N. Topper and Daniel Estes are the members of FHMLS XI, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences XI, L.P. The percentage is calculated based on 11,221,307 shares of Common Stock outstanding on December 13, 2024, as set forth in the Issuer's Current Report on Form 8-K filed with the SEC on December 16, 2024. Albert Cha X1 0.00 570480.00 0.00 570480.00 570480.00 5.1 IN The shares consist of (i) 440,575 shares of Common Stock held directly by Frazier Life Sciences Public Fund, L.P., and (ii) 129,905 shares of Common Stock held directly by Frazier Life Sciences Public Overage Fund, L.P. FHMLSP, L.P. is the general partner of Frazier Life Sciences Public Fund, L.P. and FHMLSP, L.L.C. is the general partner of FHMLSP, L.P. Patrick J. Heron, James N. Topper, Albert Cha and James Brush are the members of FHMLSP, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences Public Fund, L.P. FHMLSP Overage, L.P. is the general partner of Frazier Life Sciences Public Overage Fund, L.P. and FHMLSP Overage, L.L.C. is the general partner of FHMLSP Overage, L.P. Patrick J. Heron, James N. Topper, Albert Cha and James Brush are the members of FHMLSP Overage, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences Public Overage Fund, L.P. The percentage is calculated based on 11,221,307 shares of Common Stock outstanding on December 13, 2024, as set forth in the Issuer's Current Report on Form 8-K filed with the SEC on December 16, 2024. James Brush X1 0.00 570480.00 0.00 570480.00 570480.00 5.1 IN The shares consist of (i) 440,575 shares of Common Stock held directly by Frazier Life Sciences Public Fund, L.P., and (ii) 129,905 shares of Common Stock held directly by Frazier Life Sciences Public Overage Fund, L.P. FHMLSP, L.P. is the general partner of Frazier Life Sciences Public Fund, L.P. and FHMLSP, L.L.C. is the general partner of FHMLSP, L.P. Patrick J. Heron, James N. Topper, Albert Cha and James Brush are the members of FHMLSP, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences Public Fund, L.P. FHMLSP Overage, L.P. is the general partner of Frazier Life Sciences Public Overage Fund, L.P. and FHMLSP Overage, L.L.C. is the general partner of FHMLSP Overage, L.P. Patrick J. Heron, James N. Topper, Albert Cha and James Brush are the members of FHMLSP Overage, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences Public Overage Fund, L.P. The percentage is calculated based on 11,221,307 shares of Common Stock outstanding on December 13, 2024, as set forth in the Issuer's Current Report on Form 8-K filed with the SEC on December 16, 2024. Daniel Estes X1 0.00 2764.00 0.00 2764.00 2764.00 0.0 IN The shares consist of 2,764 shares of Common Stock held directly by Frazier Life Sciences XI, L.P. FHMLS XI, L.P. is the general partner of Frazier Life Sciences XI, L.P. and FHMLS XI, L.L.C. is the general partner of FHMLS XI, L.P. Patrick J. Heron, James N. Topper and Daniel Estes are the members of FHMLS XI, L.L.C. and therefore share voting and investment power over the shares held by Frazier Life Sciences XI, L.P. The percentage is calculated based on 11,221,307 shares of Common Stock outstanding on December 13, 2024, as set forth in the Issuer's Current Report on Form 8-K filed with the SEC on December 16, 2024. Palvella Therapeutics, Inc. 125 Strafford Ave, Suite 360, , Wayne, PA, 19087. The entities and persons filing this statement (collectively, the "Reporting Persons") are: Frazier Life Sciences Public Fund, L.P. ("FLSPF") FHMLSP, L.P. FHMLSP, L.L.C. Frazier Life Sciences Public Overage Fund, L.P. ("FLSPOF") FHMLSP Overage, L.P. FHMLSP Overage, L.L.C. Frazier Life Sciences XI, L.P. ("FLS XI") FHMLS XI, L.P. FHMLS XI, L.L.C. Frazier Life Sciences X, L.P. ("FLS X") FHMLS X, L.P. FHMLS X, L.L.C. James N. Topper ("Topper") Patrick J. Heron ("Heron") Albert Cha ("Cha") James Brush ("Brush") Daniel Estes ("Estes" and together with Topper, Heron, Cha and Brush, the "Members") The address and principal business office of the Reporting Persons is: c/o Frazier Life Sciences Management, L.P. 1001 Page Mill Rd, Building 4, Suite B Palo Alto, CA 94304 Entities: FLSPF - Delaware, U.S.A. FHMLSP, L.P. - Delaware, U.S.A. FHMLSP, L.L.C. - Delaware, U.S.A. FLSPOF - Delaware, U.S.A. FHMLSP Overage, L.P. - Delaware, U.S.A. FHMLSP, L.L.C. - Delaware, U.S.A. FLS XI - Delaware, U.S.A. FHMLS XI, L.P. - Delaware, U.S.A. FHMLS XI, L.L.C. - Delaware, U.S.A. FLS X - Delaware, U.S.A. FHMLS X, L.P. - Delaware, U.S.A. FHMLS X, L.L.C. - Delaware, U.S.A. Individuals: Topper - United States Citizen Heron - United States Citizen Cha - United States Citizen Brush - United States Citizen Estes - United States Citizen Y See Row 9 of cover page for each Reporting Person. See Row 11 of cover page for each Reporting Person. See Row 5 of cover page for each Reporting Person. See Row 6 of cover page for each Reporting Person. See Row 7 of cover page for each Reporting Person. See Row 8 of cover page for each Reporting Person. Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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. Frazier Life Sciences Public Fund, L.P. Steve R. Bailey 01/08/2025 FHMLSP, L.P. Steve R. Bailey 01/08/2025 FHMLSP, L.L.C. Steve R. Bailey 01/08/2025 Frazier Life Sciences Public Overage Fund, L.P. Steve R. Bailey 01/08/2025 FHMLSP Overage, L.P. Steve R. Bailey 01/08/2025 FHMLSP Overage, L.L.C. Steve R. Bailey 01/08/2025 Frazier Life Sciences X, L.P. Steve R. Bailey 01/08/2025 FHMLS X, L.P. Steve R. Bailey 01/08/2025 FHMLS X, L.L.C. Steve R. Bailey 01/01/2025 Frazier Life Sciences XI, L.P. Steve R. Bailey 01/08/2025 FHMLS XI, L.P. Steve R. Bailey 01/08/2025 FHMLS XI, L.L.C. Steve R. Bailey 01/08/2025 James N. Topper Steve R. Bailey 01/08/2025 Patrick J. Heron Steve R. Bailey 01/08/2025 Albert Cha Steve R. Bailey 01/08/2025 James Brush Steve R. Bailey 01/08/2025 Daniel Estes Steve R. Bailey 01/08/2025