FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Longitude Capital Partners III, LLC
   2. Issuer Name and Ticker or Trading Symbol
Molecular Templates, Inc. [MTEM] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
2740 SAND HILL ROAD, SECOND FLOOR		 3. Date of Earliest Transaction (Month/Day/Year)
08/28/2020
(Street)

MENLO PARK, CA 94025		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 08/28/2020   S   2,447 D $ 10.7461 (1) 0 I See Footnote (2)
Common Stock 08/28/2020   S   1,049 D $ 10.7461 (1) 0 I See Footnote (3)
Common Stock               3,199,035 I By Longitude Venture Partners III, L.P. (4)
Common Stock               3,495 I See Footnote (5)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Longitude Capital Partners III, LLC
2740 SAND HILL ROAD
SECOND FLOOR
MENLO PARK, CA 94025		     X    
Longitude Venture Partners III, L.P.
2740 SAND HILL ROAD
SECOND FLOOR
MENLO PARK, CA 94025		     X    
ENRIGHT PATRICK G
2740 SAND HILL ROAD
SECOND FLOOR
MENLO PARK, CA 94025		     X    
Tammenoms Bakker Juliet
2740 SAND HILL RD 2ND FLOOR
MENLO PARK, CA 94025		     X    

Signatures

 /s/ Patrick G. Enright, individually, and as Managing Member of Longitude Capital III, and as Managing Member of Longitude Capital III, General Partner of Longitude Venture III   09/01/2020
**Signature of Reporting Person Date
 /s/ JulietTammenoms Bakker   09/01/2020
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.63 to $10.88, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (1) to this Form 4.
(2) These shares were held directly by Juliet Tammenoms Bakker ("Ms. Bakker").
(3) These shares were held by a trust. Ms. Bakker is the Investment Trustee of such trust and may be deemed to share voting and dispositive power with regard to the reported shares. Ms. Bakker disclaims beneficial ownership of such shares except to the extent of her pecuniary interest therein. Each of the Reporting Persons disclaims the existence of a "group" and, other than Ms. Bakker, disclaims beneficial ownership of these securities, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.
(4) These shares are held by Longitude Venture Partners III, L.P. ("Longitude Venture III"). This report is filed jointly by Longitude Capital Partners III, LLC ("Longitude Capital III"), Longitude Venture III, Patrick G. Enright ("Mr. Enright"), and Ms. Bakker. Longitude Capital III is the general partner of Longitude Venture III and may be deemed to have voting, investment and dispositive power over the shares held by Longitude Venture III. Mr. Enright and Ms. Bakker are the managing members of Longitude Capital III and may be deemed to share voting, investment and dispositive power over the shares held by Longitude Venture III. Each of Longitude Capital III, Mr. Enright and Ms. Bakker disclaims beneficial ownership of such shares except to the extent of its, his or her pecuniary interest therein.
(5) These shares are held by a limited partnership (the "Partnership") of which the general partner is a trust (the "Trust"). Mr. Enright is the Trustee of the Trust and may be deemed to share voting, investment and dispositive power over the shares held by the Partnership. Each of the Trust and Mr. Enright disclaims beneficial ownership of such shares except to the extent of its or his pecuniary interest therein. Each of the Reporting Persons disclaims the existence of a "group" and, other than Mr. Enright, disclaims beneficial ownership of these securities, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.

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