X0202 SCHEDULE 13G 0001224962 XXXXXXXX LIVE Class A Ordinary Shares, par value $0.0001 per share 05/20/2026 0002118032 Research Alliance Corporation III G75226103 600 FIFTH AVENUE, 23RD FLOOR New York NY 10020 Rule 13d-1(c) Perceptive Advisors LLC b DE 0 750000 0 750000 750000 N 8.2 IA Joseph Edelman b X1 0 750000 0 750000 750000 N 8.2 IN Perceptive Life Sciences Master Fund, Ltd. b E9 0 750000 0 750000 750000 N 8.2 CO Research Alliance Corporation III 600 FIFTH AVENUE, 23RD FLOOR, NEW YORK, NY, 10020 The names of the persons filing this report (collectively, the "Reporting Persons") with respect to the Class A Ordinary Shares, par value $0.0001 per share (the "Ordinary Shares") of Research Alliance Corporation III (the "Issuer") are: (i) Perceptive Advisors LLC ("Perceptive Advisors") (ii) Joseph Edelman ("Mr. Edelman") (iii) Perceptive Life Sciences Master Fund, Ltd. (the "Master Fund") The address of the principal business office of each of the Reporting Persons is: 51 Astor Place, 10th Floor, New York, NY 10003 Perceptive Advisors is a Delaware limited liability company. Mr. Edelman is a United States citizen. The Master Fund is a Cayman Islands corporation. Y The information required by this item with respect to each Reporting Person is set forth in Rows 5 through 9 and 11 of the cover pages to this Schedule 13G. The ownership percentages are based on 9,098,529 Ordinary Shares outstanding, as reported by the Issuer in its prospectus filed pursuant to Rule 424(b)(4) with the Securities and Exchange Commission on May 20, 2026. The Master Fund directly holds 750,000 Ordinary Shares. Perceptive Advisors serves as the investment manager to the Master Fund and may be deemed to beneficially own shares held by the Master Fund. Mr. Edelman is the managing member of Perceptive Advisors and may be deemed to beneficially own the shares held by the Master Fund. Perceptive Advisors: 8.2% Mr. Edelman: 8.2% Master Fund: 8.2% Perceptive Advisors: 0 Mr. Edelman: 0 Master Fund: 0 Perceptive Advisors: 750,000 Mr. Edelman: 750,000 Master Fund: 750,000 Perceptive Advisors: 0 Mr. Edelman: 0 Master Fund: 0 Perceptive Advisors: 750,000 Mr. Edelman: 750,000 Master Fund: 750,000 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. Exhibit 99.1 - Joint Filing Agreement Perceptive Advisors LLC /s/ Joseph Edelman 05/28/2026 Joseph Edelman /s/ Joseph Edelman 05/28/2026 Perceptive Life Sciences Master Fund, Ltd. /s/ Joseph Edelman 05/28/2026