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13F-HR filed by TANG CAPITAL MANAGEMENT LLC

TANG CAPITAL MANAGEMENT LLC filed this 13F-HR for the quarter ended 2025-09-30, filed 2025-11-14, with 194 holding rows worth $2,597,852,511.

Accession
0001214659-25-016677
Filed
2025-11-14
Accepted by EDGAR
acceptance time not in the bulk data set
Ingested
Source
SEC quarterly data set

Original filing

13F report for Q3 2025

A holdings report, 194 entries on the cover page, a total value of $2,597,852,511 stated on the cover page (in dollars after the unit check, H1), rows summing to $2,597,852,511 with VALUE read as dollars as filed, 13F file number 028-14822. The quarter's positions are built on this report. The resolved quarter.

Other managers

The information table after summing rows of one CUSIP and put or call (H4), with the CUSIP and issuer name as filed. Values in dollars after the unit check (method).

Issuer as filedCUSIPClassAmountValueValue read asType
TARSUS PHARMACEUTICALS INC87650L103COMMON STOCK2,454,797$145,888,586dollars as filed
LAKEFRONT BIOTHERAPEUTICS NV36315X101SPON ADR4,151,194$143,797,360dollars as filed
AURINIA PHARMACEUTICALS INC COM05156V102Stock11,329,500$125,190,975dollars as filed
PTC THERAPEUTICS INC69366J200COM1,500,000$92,055,000dollars as filed
MIRUM PHARMACEUTICALS INC604749101COM1,236,027$90,613,139dollars as filed
KINIKSA PHARMACEUTICALS INTL P ORD SHS CL AG52694109Stock2,328,609$90,419,887dollars as filed
IMMUNOCORE HLDGS PLC ADS45258D105ADR2,305,608$83,762,739dollars as filed
KALVISTA PHARMACEUTICALS INC483497103COM5,041,798$61,409,100dollars as filed
VIRIDIAN THERAPEUTICS INC92790C104COM2,842,925$61,350,322dollars as filed
COMPASS THERAPEUTICS INC20454B104COM16,811,963$58,841,871dollars as filed
CELCUITY INC15102K100COM1,150,000$56,810,000dollars as filed
MERUS N VN5749R100COM600,000$56,490,000dollars as filed
SPYRE THERAPEUTICS INC00773J202COM NEW3,200,000$53,632,000dollars as filed
RELAY THERAPEUTICS INC COM75943R102Stock8,068,058$42,115,263dollars as filed
LENZ THERAPEUTICS INC52635N103COM897,616$41,810,953dollars as filed
ANAPTYSBIO INC032724106COM1,333,639$40,836,026dollars as filed
PRECIGEN INC74017N105COM12,400,000$40,796,000dollars as filed
VERA THERAPEUTICS INC92337R101COMMON STOCK1,350,000$39,231,000dollars as filed
NIKE,Inc. Class B654106103COM519,399$36,217,710dollars as filed
IONIS PHARMACEUTICALS INC COM462222100Stock550,000$35,981,000dollars as filed
CYTOMX THERAPEUTICS INC23284F105COMMON STOCK11,065,662$35,299,462dollars as filed
EVOLUS INC30052C107COM5,488,299$33,698,156dollars as filed
AVADEL PHARMACEUTICALS PLCG29687103COM SHS2,097,500$32,028,825dollars as filed
ACADIA PHARMACEUTICALS INC004225108COM1,500,000$32,010,000dollars as filed
Vertex Pharmaceuticals Incorporated92532F100COM80,000$31,331,200dollars as filed
ANI PHARMACEUTICALS INC00182C103COM317,500$29,083,000dollars as filed
INSMED INC COM PAR $.01457669307Stock200,000$28,802,000dollars as filed
LEGEND BIOTECH CORP52490G102SPONSORED ADS830,000$27,066,300dollars as filed
BIONTECH SE SPONSORED ADS09075V102ADR270,000$26,627,400dollars as filed
LIQUIDIA CORPORATION COM NEW53635D202Stock1,143,759$26,009,080dollars as filed
JAZZ PHARMACEUTICALS PLC SHS USDG50871105Stock190,000$25,042,000dollars as filed
NVIDIA Corp67066G104COM130,509$24,350,436dollars as filed
VIKING THERAPEUTICS INC92686J106COM870,000$22,863,600dollars as filed
KEROS THERAPEUTICS INC COM492327101Stock1,418,984$22,448,327dollars as filed
NEUROCRINE BIOSCIENCES INC64125C109COM150,000$21,057,000dollars as filed
UROGEN PHARMA LTDM96088105COMMON STOCK1,000,000$19,950,000dollars as filed
DYNAVAX TECHNOLOGIES CORP268158201COM NEW1,949,500$19,358,535dollars as filed
META PLATFORMS INC CL A30303M102COM26,008$19,099,955dollars as filed
ZYMEWORKS INC98985Y108COM1,100,000$18,788,000dollars as filed
GSK PLC SPONSORED ADR37733W204ADR400,000$17,264,000dollars as filed
JANUX THERAPEUTICS INC47103J105COM700,000$17,108,000dollars as filed
TRAVERE THERAPEUTICS INC89422G107COM700,000$16,730,000dollars as filed
NUVATION BIO INC COM CL A67080N101Stock4,200,000$15,540,000dollars as filed
ADMA BIOLOGICS INC000899104COM1,050,000$15,393,000dollars as filed
NKARTA INC65487U108COMMON STOCK7,055,576$14,605,042dollars as filed
REPLIMUNE GROUP INC76029N106COMMON STOCK3,400,000$14,246,000dollars as filed
ATEA PHARMACEUTICALS INC04683R106COMMON STOCK4,826,200$13,995,980dollars as filed
DESIGN THERAPEUTICS INC25056L103COM1,780,975$13,410,742dollars as filed
JOURNEY MED CORP48115J109COM1,854,596$13,204,724dollars as filed
ABCELLERA BIOLOGICS INC COM00288U106Stock2,600,000$13,078,000dollars as filed
COMPASS PATHWAYS PLC20451W101SPONSORED ADS2,200,000$12,606,000dollars as filed
ALIBABA GROUP HLDG LTD01609W102SPONSORED ADS70,000$12,511,100dollars as filed
ARVINAS INC04335A105COM1,393,800$11,875,176dollars as filed
STOKE THERAPEUTICS INC86150R107COM500,000$11,750,000dollars as filed
VANDA PHARMACEUTICALS INC921659108COM2,353,307$11,743,002dollars as filed
SAREPTA THERAPEUTICS INC803607100COM600,000$11,562,000dollars as filed
ASTRAZENECA PLC SPONSORED ADR046353108ADR150,000$11,508,000dollars as filed
SUMMIT THERAPEUTICS INC86627T108COM550,000$11,363,000dollars as filed
IDEAYA BIOSCIENCES INC COM45166A102Stock400,000$10,884,000dollars as filed
TELADOC HEALTH INC87918A105COM1,400,000$10,822,000dollars as filed
VAXCYTE INC COM92243G108Stock300,000$10,806,000dollars as filed
CYBIN INC23256X407COM NEW1,830,097$10,779,271dollars as filed
GENEDX HOLDINGS CORP81663L200COM CL A100,000$10,774,000dollars as filed
DIANTHUS THERAPEUTICS INC252828108COM264,692$10,415,631dollars as filed
IDEXX LABS INC COM45168D104Stock16,000$10,222,240dollars as filed
Ventyx Biosciences Inc92332V107Common Stock3,100,000$9,641,000dollars as filed
BIOAGE LABS INC COM09077V100Stock1,600,000$9,408,000dollars as filed
PLIANT THERAPEUTICS INC729139105COM6,003,446$8,885,100dollars as filed
BAUSCH HEALTH COS INC COM071734107Stock1,300,000$8,385,000dollars as filed
COHERUS ONCOLOGY INC19249H103COM5,097,362$8,359,674dollars as filed
CRESCENT BIOPHARMA INCG2545C104COMMON STOCK679,824$8,083,107dollars as filed
ALTIMMUNE INC02155H200COM NEW2,131,307$8,035,027dollars as filed
APOGEE THERAPEUTICS INC COM03770N101Stock200,000$7,946,000dollars as filed
MODERNA INC60770K107COM305,300$7,885,899dollars as filed
BLACK DIAMOND THERAPEUTICS I09203E105COM2,070,209$7,846,092dollars as filed
HARMONY BIOSCIENCES HLDGS IN413197104COM281,200$7,749,872dollars as filed
Eli Lilly and Company532457108COM10,000$7,630,000dollars as filed
MINERALYS THERAPEUTICS INC603170101COM200,000$7,584,000dollars as filed
MIND MEDICINE MINDMED INC60255C885COM NEW600,200$7,076,358dollars as filed
EDGEWISE THERAPEUTICS INC28036F105COM431,300$6,995,686dollars as filed
VERASTEM INC92337C203COMMON STOCK789,810$6,974,022dollars as filed
PMV PHARMACEUTICALS INC69353Y103COM4,785,201$6,699,281dollars as filed
BAUSCH PLUS LOMB CORP071705107COMMON SHARES444,467$6,698,118dollars as filed
ADICET BIO INC007002108COM8,223,612$6,662,770dollars as filed
CULLINAN THERAPEUTICS INC230031106COM1,121,138$6,648,348dollars as filed
CRISPR THERAPEUTICS AG NAMEN AKTH17182108Stock100,000$6,481,000dollars as filed
BEAM THERAPEUTICS INC07373V105COM255,000$6,188,850dollars as filed
GENMAB A/S372303206Ordinary Shares, nominal value DKK 1 per share200,000$6,134,000dollars as filed
BIOCRYST PHARMACEUTICALS INC COM09058V103Stock800,000$6,072,000dollars as filed
IMMUNITYBIO INC45256X103COM2,333,333$5,739,999dollars as filed
REGENERON PHARMACEUTICALS COM75886F107Stock10,000$5,622,700dollars as filed
PYXIS ONCOLOGY INC COMMON STOCK747324101Stock2,500,000$5,550,000dollars as filed
CYTOKINETICS INC23282W605COM NEW100,000$5,496,000dollars as filed
BIOGEN INC COM09062X103Stock35,000$4,902,800dollars as filed
CENTESSA PHARMACEUTICALS PLC152309100SPONSORED ADS200,000$4,850,000dollars as filed
SANOFI SA SPONSORED ADR80105N105ADR100,000$4,720,000dollars as filed
REVOLUTION MEDICINES INC COM76155X100Stock100,000$4,670,000dollars as filed
ALUMIS INC022307102COM1,167,009$4,656,366dollars as filed
HERON THERAPEUTICS INC427746102COM3,450,000$4,347,000dollars as filed
NUVALENT INC COM670703107Stock50,000$4,324,000dollars as filed
THERAVANCE BIOPHARMA INCG8807B106COM264,308$3,858,897dollars as filed
TG THERAPEUTICS INC COM88322Q108Stock100,000$3,612,500dollars as filed
PRECISION BIOSCIENCES INC74019P207COM NEW653,649$3,608,142dollars as filed
CG ONCOLOGY INC156944100COMMON STOCK87,500$3,524,500dollars as filed
SOLENO THERAPEUTICS INC834203309COM50,000$3,380,000dollars as filed
ALEXANDRIA REAL ESTATE EQ INC COM015271109REIT40,000$3,333,600dollars as filed
ERASCA INC COM29479A108Stock1,502,915$3,276,355dollars as filed
FENNEC PHARMACEUTICALS INC31447P100COMMON STOCK334,593$3,131,790dollars as filed
SYNDAX PHARMACEUTICALS INC87164F105COM200,000$3,077,000dollars as filed
TAYSHA GENE THERAPIES INC877619106COMMON STOCK900,000$2,943,000dollars as filed
SEER INC81578P106COM CL A1,344,423$2,917,398dollars as filed
TECTONIC THERAPEUTIC INC878972108COMMON STOCK179,166$2,811,114dollars as filed
KEZAR LIFE SCIENCES INC49372L209COM NEW720,000$2,808,000dollars as filed
ROCKET PHARMACEUTICALS INC77313F106COM850,000$2,771,000dollars as filed
LANTHEUS HLDGS INC516544103COM50,000$2,564,500dollars as filed
NEUMORA THERAPEUTICS INC.640979100COM1,400,000$2,548,000dollars as filed
SUTRO BIOPHARMA INC869367102COM2,828,717$2,456,458dollars as filed
VOR BIOPHARMA INC929033207COMMON STOCK50,000$2,436,000dollars as filed
KALARIS THERAPEUTICS INC482929106COM418,241$2,417,433dollars as filed
METTLER TOLEDO INTERNATIONAL COM592688105Stock1,969$2,417,164dollars as filed
FATE THERAPEUTICS INC31189P102COM1,867,773$2,353,394dollars as filed
ZENTALIS PHARMACEUTICALS INC98943L107COMMON STOCK1,550,000$2,340,500dollars as filed
Intel Corp458140100COM66,216$2,221,531dollars as filed
GOSSAMER BIO INC COM38341P102Stock800,000$2,104,000dollars as filed
BIOHAVEN LTDG1110E107COM140,000$2,101,400dollars as filed
OPTIMIZERX CORP68401U204COM NEW100,000$2,050,000dollars as filed
CLIMB BIO INC28658R106COMMON STOCK1,000,000$2,010,000dollars as filed
C4 THERAPEUTICS INC12529R107COM STK900,000$1,998,000dollars as filed
JPMorgan Chase & Co46625H100COM6,312$1,990,965dollars as filed
Microsoft Corp594918104COM3,546$1,836,597dollars as filed
Walmart Inc.931142103COM17,242$1,776,971dollars as filed
Johnson & Johnson478160104COM9,472$1,756,213dollars as filed
Visa Inc92826C839COM4,869$1,662,282dollars as filed
Walt Disney Co254687106COM14,493$1,659,439dollars as filed
KODIAK SCIENCES INC50015M109COM100,000$1,637,000dollars as filed
Berkshire Hathaway Inc084670702COM3,250$1,633,995dollars as filed
COGNITION THERAPEUTICS INC19243B102COM1,200,000$1,620,000dollars as filed
CORBUS PHARMACEUTICALS21833P301COM NEW127,520$1,613,128dollars as filed
Verizon Communications Inc92343V104COM36,266$1,593,887dollars as filed
ENANTA PHARMACEUTICALS INC29251M106COM126,655$1,516,060dollars as filed
Coca-Cola Company191216100COM22,712$1,506,280dollars as filed
Home Depot, Inc437076102COM3,646$1,477,275dollars as filed
CAREDX INC14167L103COM100,000$1,454,000dollars as filed
EXXON MOBIL CORP30231G102COM12,651$1,426,374dollars as filed
Procter & Gamble Co742718109COM8,952$1,375,490dollars as filed
Texas Instruments Incorporated882508104COM7,415$1,362,378dollars as filed
AMYLYX PHARMACEUTICALS INC03237H101COM100,000$1,359,000dollars as filed
Pfizer Inc.717081103COM53,039$1,351,446dollars as filed
VIATRIS INC COM92556V106Stock128,359$1,270,749dollars as filed
IOVANCE BIOTHERAPEUTICS INC462260100COM543,760$1,179,959dollars as filed
PAYPALHLDGSINC70450Y103STOK17,323$1,161,701dollars as filed
Tscan Therapeutics Inc89854M101COM600,000$1,092,000dollars as filed
PUMA BIOTECHNOLOGY INC74587V107COMMON STOCK200,000$1,062,000dollars as filed
AMERICAN ASSETS TR INC COM024013104REIT50,000$1,016,000dollars as filed
BIOATLA INC09077B104COM1,374,076$945,227dollars as filed
UnitedHealth Group Inc91324P102COM2,721$939,510dollars as filed
General Electric Company369604301COM2,994$900,800dollars as filed
KURA ONCOLOGY INC COM50127T109Stock100,000$885,000dollars as filed
GE Vernova Inc.36828A101COM1,378$847,405dollars as filed
FORTREA HLDGS INC COMMON STOCK34965K107Stock100,000$842,000dollars as filed
Netflix, Inc64110L106COM683$819,329dollars as filed
ULTA BEAUTY INC COM90384S303Stock1,384$756,499dollars as filed
ASTRIA THERAPEUTICS INC COM04635X102Stock100,000$728,000dollars as filed
Boeing Company097023105COM3,225$696,076dollars as filed
American Express Company025816109COM1,931$641,268dollars as filed
UNITED AIRLS HLDGS INC COM910047109Stock6,296$607,596dollars as filed
PASSAGE BIO INC702712209COM NEW75,000$602,250dollars as filed
ALLSTATE CORP COM020002101Stock2,700$579,611dollars as filed
HEWLETT PACKARD ENTERPRISE CO COM42824C109Stock23,563$578,700dollars as filed
Amazon.com, Inc023135106COM2,583$567,132dollars as filed
T-Mobile US,Inc.872590104COM2,285$546,893dollars as filed
STANDARD BIOTOOLS INC34385P108COM407,755$530,082dollars as filed
McDonalds Corporation580135101COM1,710$519,521dollars as filed
FORD MTR CO COM345370860Stock43,381$518,833dollars as filed
SEALED AIR CORP NEW81211K100COM14,274$504,584dollars as filed
SHERWIN WILLIAMS CO824348106COM1,398$484,207dollars as filed
ATYR PHARMA INC002120202COM NEW671,134$484,156dollars as filed
OMNIAB INC68218J103COM300,000$480,000dollars as filed
Chevron Corporation166764100COM3,023$469,431dollars as filed
PAYCHEX INC704326107COM3,542$448,972dollars as filed
CENTURY THERAPEUTICS INC15673T100COM900,000$448,200dollars as filed
INVIVYD INC00534A102COMMON STOCK400,000$440,000dollars as filed
HORMEL FOODS CORP COM440452100Stock16,181$400,323dollars as filed
FEDEX CORP COM31428X106Stock1,693$399,339dollars as filed
CLOROX CO DEL189054109COM3,052$376,254dollars as filed
MACROGENICS INC556099109COM218,856$367,678dollars as filed
BOLT BIOTHERAPEUTICS INC097702203COM NEW66,879$355,796dollars as filed
GH RESEARCH PLC ORDINARY SHARESG3855L106Stock24,030$343,629dollars as filed
WHIRLPOOL CORP COM963320106Stock4,335$340,722dollars as filed
ONKURE THERAPEUTICS INC68277Q105COM CL A116,395$320,086dollars as filed
LeonaBio Inc04746L203COM59,998$248,392dollars as filed
METAGENOMI THERAPEUTICS INC59102M104COM28,008$66,379dollars as filed
PACIFIC BIOSCIENCES CALIF INC COM69404D108Stock25,000$32,000dollars as filed
FILANA THERAPEUTICS INC14817C107CMN7,073$20,582dollars as filed

Amendment chain

FilingRoleFiledAcceptedIngested
13F-HR 0001214659-25-016677this filing2025-11-14acceptance time not in the bulk data set