Ownership Submission

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF 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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3235-0104

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Longitude Capital Partners III, LLC

2. Date of Event Requiring Statement (Month/Day/Year)
08/01/2017

3. Issuer Name and Ticker or Trading Symbol
Molecular Templates, Inc. [MTEM]

(Last)

(First)

(Middle)

800 EL CAMINO, SUITE 220

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	__X__ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

5. If Amendment, Date Original Filed(Month/Day/Year)

(Street)

MENLO PARK, CA 94025

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 Beneficially Owned

1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	2,896,535	I ⁽¹⁾	By Longitude Venture Partners III, L.P. ⁽¹⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrants	08/01/2017	08/01/2024	Common Stock	1,448,267	$ 6.8423	I ⁽¹⁾	By Longitude Venture Partners III, L.P. ⁽¹⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Longitude Capital Partners III, LLC 800 EL CAMINO, SUITE 220 MENLO PARK, CA 94025		X
ENRIGHT PATRICK G 800 EL CAMINO REAL SUITE 220 MENLO PARK, CA 94025		X
Tammenoms Bakker Juliet 800 EL CAMINO REAL SUITE 220 MENLO PARK, CA 94025		X
Longitude Venture Partners III, L.P. 800 EL CAMINO REAL, SUITE 220 MENLO PARK, CA 94025		X

Signatures

/s/ Patrick G. Enright, Managing Member of Longitude Capital III		08/07/2017
^**Signature of Reporting Person		Date
/s/ Patrick G. Enright		08/07/2017
^**Signature of Reporting Person		Date
/s/ Juliet Tammenoms Bakker		08/07/2017
^**Signature of Reporting Person		Date
/s/ Patrick G. Enright, Managing Member of Longitude Capital III, General Partner of Longitude Venture III		08/07/2017
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(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)	This report is filed jointly by Longitude Capital Partners III, LLC ("Longitude Capital III"), Longitude Venture Partners III, L.P. ("Longitude Venture III"), Patrick G. Enright ("Mr. Enright"), and Juliet Tammenoms Bakker ("Ms. Bakker"), all of whom share beneficial ownership of more than 10% of the capital stock of the Issuer. Longitude Capital III is the general partner of Longitude Venture III and may be deemed to share voting and investment 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 and investment 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.

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