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Filing Details

Accession Number:: 0001123292-12-000795
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2012-08-02 13:35:19
Reporting Period:: 2012-07-31

Filing Date:: 2012-08-02
Accepted Time:: 2012-08-02 12:35:19
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1386858	Hyperion Therapeutics Inc	HPTX	Pharmaceutical Preparations (2834)	611512713

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1436021	Panorama Capital, L.p.	2440 Sand Hill Road, Suite 302 Menlo Park CA 94025		No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2012-07-31	831,410	$0.00	831,410	No	4	C	Direct
Common Stock	Acquisiton	2012-07-31	68,986	$0.00	900,396	No	4	X	Direct
Common Stock	Disposition	2012-07-31	28,147	$0.00	872,249	No	4	J	Direct
Common Stock	Acquisiton	2012-07-31	1,125	$0.00	873,374	No	4	C	Direct
Common Stock	Acquisiton	2012-07-31	1,125	$0.00	874,499	No	4	C	Direct
Common Stock	Acquisiton	2012-07-31	239,015	$0.00	1,113,514	No	4	C	Direct
Common Stock	Acquisiton	2012-07-31	99,361	$0.00	1,212,875	No	4	C	Direct
Common Stock	Acquisiton	2012-07-31	97,722	$0.00	1,310,597	No	4	C	Direct
Common Stock	Acquisiton	2012-07-31	550,000	$10.00	1,860,597	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	C	Direct
No	4	X	Direct
No	4	J	Direct
No	4	C	Direct
No	4	C	Direct
No	4	C	Direct
No	4	C	Direct
No	4	C	Direct
No	4	P	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Series C-2 Preferred Stock	Disposition	2012-07-31	831,410	$0.00	831,410	$0.00
Common Stock	Warrant to Purchase Common Stock	Disposition	2012-07-31	68,986	$0.00	68,986	$4.08
Series C-2 Preferred Stock	Warrant to Purchase Preferred Stock	Disposition	2012-07-31	29,615	$0.00	29,615	$9.62
Common Stock	Series C-2 Preferred Stock	Acquisiton	2012-07-31	29,615	$0.00	29,615	$0.00
Common Stock	Series C-2 Preferred Stock	Disposition	2012-07-31	28,490	$10.00	28,490	$0.00
Common Stock	Series C-2 Preferred Stock	Disposition	2012-07-31	1,125	$0.00	1,125	$0.00
Series C-2 Preferred Stock	Warrant to Purchase Preferred Stock	Disposition	2012-07-31	29,615	$0.00	29,615	$9.62
Common Stock	Series C-2 Preferred Stock	Acquisiton	2012-07-31	29,615	$0.00	29,615	$0.00
Common Stock	Series C-2 Preferred Stock	Disposition	2012-07-31	28,490	$10.00	28,490	$0.00
Common Stock	Series C-2 Preferred Stock	Disposition	2012-07-31	1,125	$0.00	1,125	$0.00
Common Stock	Convertible Promissory Note	Disposition	2012-07-31	0	$0.00	239,015	$10.00
Common Stock	Convertible Promissory Note	Disposition	2012-07-31	0	$0.00	99,361	$10.00
Common Stock	Convertible Promissory Note	Disposition	2012-07-31	0	$0.00	97,722	$10.00

Remaning Holdings	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	No	4	C	Direct
0	No	4	X	Direct
0	No	4	X	Direct
29,615	No	4	X	Direct
1,125	No	4	J	Direct
0	No	4	C	Direct
0	No	4	X	Direct
29,615	No	4	X	Direct
1,125	No	4	J	Direct
0	No	4	C	Direct
0	No	4	C	Direct
0	No	4	C	Direct
0	No	4	C	Direct

Footnotes

Panorama Capital, L.P. ("Panorama") and Panorama Capital Management, LLC ("PCM") are deemed to be a "group" for the purpose of Section 13(d) of the Securities Exchange Act of 1934, as amended. PCM is the general partner of Panorama and the Managing Members of PCM, Christopher J. Albinson, Rodney A. Ferguson, Shahan D. Soghikian, and Damion Wicker, have sole voting and dispositive powers with respect to the securities held by Panorama.
Immediately prior to the closing of the Issuer's initial public offering of its common stock, each share of convertible preferred stock automatically converted into one share of common stock. The convertible preferred stock had no expiration date.
Immediately prior to the closing, the warrants automatically net exercised by their terms, which allowed the holder to pay the exercise price of the warrants by forfeiting a portion of the exercised warrant shares with a value equal to the aggregate exercise price.
Immediately prior to the closing, the warrants automatically net exercised by their terms into Series C-2 preferred stock, which allowed the holder to pay the exercise price of the warrants by forfeiting a portion of the exercised warrant shares with a value equal to the aggregate exercise price. The convertible preferred stock had no expiration date.
Notes and accrued interest in the aggregate of $2,390,157 converted automatically immediately prior to the closing of the Issuer's initial public offering into shares of common stock at a conversion price of $10.00 per share, which is the initial public offering price per share.
Notes and accrued interest in the aggregate of $993,619 converted automatically immediately prior to the closing of the Issuer's initial public offering into shares of common stock at a conversion price of $10.00 per share, which is the initial public offering price per share.
Notes and accrued interest in the aggregate of $977,223 converted automatically immediately prior to the closing of the Issuer's initial public offering into shares of common stock at a conversion price of $10.00 per share, which is the initial public offering price per share.
These shares reflect the net exercise of the common stock warrant pursuant to its terms into 40,839 shares of the Issuer's common stock.
These shares reflect the net exercise of the preferred stock warrant pursuant to its terms into 1,125 shares of the Issuer's Series C-2 preferred stock.
These shares reflect the net exercise of the preferred stock warrant pursuant to its terms into 1,125 shares of the Issuer's Series C-2 preferred stock.