13F-HR filed by Ikarian Capital, LLC
Ikarian Capital, LLC filed this 13F-HR for the quarter ended 2025-12-31, filed 2026-02-18, with 174 holding rows worth $1,280,884,395.
- Accession
- 0001420506-26-000592
- Filer
- CIK 1778253
- Filed
- 2026-02-18
- Accepted by EDGAR
- acceptance time not in the bulk data set
- Ingested
- Source
- SEC quarterly data set
13F report for Q4 2025
A holdings report, 174 entries on the cover page, a total value of $1,280,884,395 stated on the cover page (in dollars after the unit check, H1), rows summing to $1,280,884,395 with VALUE read as dollars as filed, 13F file number 028-19721. The quarter's positions are built on this report. The resolved quarter.
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 filed | CUSIP | Class | Amount | Value | Value read as | Type |
|---|---|---|---|---|---|---|
| SPDR SER TR | 78464A870 | S&P BIOTECH | 850,000 | $103,640,500 | dollars as filed | put |
| CIDARA THERAPEUTICS INC | 171757206 | COM NEW | 300,000 | $66,267,000 | dollars as filed | put |
| Amgen Inc. | 031162100 | COM | 200,000 | $65,462,000 | dollars as filed | put |
| TERNS PHARMACEUTICALS INC COM | 880881107 | Stock | 1,596,378 | $64,493,671 | dollars as filed | |
| CIDARA THERAPEUTICS INC | 171757206 | COM NEW | 273,243 | $60,356,645 | dollars as filed | |
| ABIVAX SA- | 00370M103 | SPONSORED ADS | 205,985 | $29,129,537 | dollars as filed | |
| JAZZ PHARMACEUTICALS PLC | G50871905 | SHS USD | 170,000 | $28,900,000 | dollars as filed | call |
| JAZZ PHARMACEUTICALS PLC SHS USD | G50871105 | Stock | 160,367 | $27,262,390 | dollars as filed | |
| MAZE THERAPEUTICS INC COM | 578784100 | Stock | 644,680 | $26,709,093 | dollars as filed | |
| PRAXIS PRECISION MEDICINES I | 74006W207 | COM NEW | 86,581 | $25,518,884 | dollars as filed | |
| HARROW INC | 415858109 | COM | 509,700 | $24,975,300 | dollars as filed | call |
| SOLENO THERAPEUTICS INC | 834203309 | COM | 528,900 | $24,488,070 | dollars as filed | call |
| RAPT THERAPEUTICS INC | 75382E208 | COM NEW | 665,271 | $22,532,728 | dollars as filed | |
| KODIAK SCIENCES INC | 50015M109 | COM | 719,787 | $20,125,245 | dollars as filed | |
| OLEMA PHARMACEUTICALS INC | 68062P106 | COM | 758,654 | $18,966,350 | dollars as filed | |
| CYTOKINETICS INC | 23282W605 | COM NEW | 290,900 | $18,483,786 | dollars as filed | call |
| VAXCYTE INC COM | 92243G108 | Stock | 378,682 | $17,472,389 | dollars as filed | |
| CRINETICS PHARMACEUTICALS INC COM | 22663K107 | Stock | 368,500 | $17,153,675 | dollars as filed | put |
| ABIVAX SA- | 00370M103 | SPONSORED ADS | 125,100 | $16,870,363 | dollars as filed | call |
| CAPRICOR THERAPEUTICS INC | 14070B309 | COMMON STOCK | 578,015 | $16,681,512 | dollars as filed | |
| OMEROS CORP | 682143102 | COM | 950,000 | $16,316,252 | dollars as filed | put |
| IONIS PHARMACEUTICALS INC COM | 462222100 | Stock | 202,038 | $15,983,226 | dollars as filed | |
| FULCRUM THERAPEUTICS INC | 359616109 | COMMON STOCK | 1,375,472 | $15,556,588 | dollars as filed | |
| Eli Lilly and Company | 532457108 | COM | 13,815 | $14,846,704 | dollars as filed | |
| RELMADA THERAPEUTICS INC | 75955J402 | COMMON STOCK | 3,068,359 | $14,820,175 | dollars as filed | |
| Amgen Inc. | 031162100 | COM | 45,000 | $14,728,951 | dollars as filed | |
| CYTOMX THERAPEUTICS INC | 23284F105 | COMMON STOCK | 3,172,616 | $13,515,344 | dollars as filed | |
| PHARVARIS NV | N69605108 | COMMON STOCK | 486,856 | $13,510,255 | dollars as filed | |
| CONNECT BIOPHARMA HLDGS LTD | G23549101 | SHS | 4,788,486 | $13,503,531 | dollars as filed | |
| BRIGHT MINDS BIOSCIENCES INC | 10919W405 | COMMON STOCK | 159,421 | $12,441,215 | dollars as filed | |
| TENAX THERAPEUTICS INC | 88032L605 | COM NEW | 967,600 | $11,795,044 | dollars as filed | |
| REVOLUTION MEDICINES INC COM | 76155X100 | Stock | 138,142 | $11,003,011 | dollars as filed | |
| CYTOKINETICS INC | 23282W605 | COM NEW | 172,672 | $10,971,579 | dollars as filed | |
| SPRUCE BIOSCIENCES INC | 85209E208 | COM NEW | 121,356 | $10,571,320 | dollars as filed | |
| CELCUITY INC | 15102K100 | COM | 105,545 | $10,527,058 | dollars as filed | |
| RAPT THERAPEUTICS INC | 75382E208 | COM NEW | 290,000 | $9,822,300 | dollars as filed | call |
| OMEROS CORP | 682143102 | COM | 550,000 | $9,446,252 | dollars as filed | call |
| ALTO NEUROSCIENCE INC COM SHS | 02157Q109 | Stock | 515,000 | $9,167,001 | dollars as filed | |
| DEXCOM INC COM | 252131107 | Stock | 137,500 | $9,125,875 | dollars as filed | call |
| PTC THERAPEUTICS INC | 69366J200 | COM | 118,657 | $9,013,186 | dollars as filed | |
| HARROW INC | 415858109 | COM | 183,347 | $8,984,003 | dollars as filed | |
| Ventyx Biosciences Inc | 92332V107 | Common Stock | 958,704 | $8,657,097 | dollars as filed | |
| CG ONCOLOGY INC | 156944100 | COMMON STOCK | 199,473 | $8,282,119 | dollars as filed | |
| CORCEPT THERAPEUTICS INC | 218352102 | COM | 236,700 | $8,237,160 | dollars as filed | put |
| FORTE BIOSCIENCES INC | 34962G208 | COMMON STOCK | 300,000 | $8,181,001 | dollars as filed | |
| APELLIS PHARMACEUTICALS INC | 03753U106 | COM | 325,600 | $8,179,072 | dollars as filed | call |
| PELTHOS THERAPEUTICS INC | 171126204 | COM SHS | 255,758 | $7,928,498 | dollars as filed | |
| NEUROCRINE BIOSCIENCES INC | 64125C109 | COM | 54,062 | $7,667,613 | dollars as filed | |
| REVOLUTION MEDICINES INC COM | 76155X100 | Stock | 95,000 | $7,566,750 | dollars as filed | call |
| IONIS PHARMACEUTICALS INC COM | 462222100 | Stock | 94,600 | $7,483,806 | dollars as filed | call |
| MINERALYS THERAPEUTICS INC | 603170101 | COM | 200,000 | $7,257,999 | dollars as filed | |
| NEUROCRINE BIOSCIENCES INC | 64125C109 | COM | 51,000 | $7,233,330 | dollars as filed | call |
| ALPHA COGNITION INC | 02074J501 | COM NEW | 1,056,259 | $6,865,685 | dollars as filed | |
| DAMORA THERAPEUTICS INC | 36322Q206 | COMMON STOCK | 285,710 | $6,574,187 | dollars as filed | |
| INVIVYD INC | 00534A102 | COMMON STOCK | 2,656,570 | $6,561,727 | dollars as filed | |
| ANI PHARMACEUTICALS INC | 00182C103 | COM | 82,800 | $6,536,232 | dollars as filed | call |
| CORCEPT THERAPEUTICS INC | 218352102 | COM | 185,593 | $6,458,636 | dollars as filed | |
| NUVALENT INC COM | 670703107 | Stock | 59,594 | $5,994,561 | dollars as filed | |
| ULTRAGENYX PHARMACEUTICAL IN | 90400D108 | COM | 255,100 | $5,867,300 | dollars as filed | put |
| ULTRAGENYX PHARMACEUTICAL IN | 90400D108 | COM | 250,000 | $5,750,000 | dollars as filed | call |
| CORCEPT THERAPEUTICS INC | 218352102 | COM | 163,800 | $5,700,240 | dollars as filed | call |
| LEXEO THERAPEUTICS INC | 52886X107 | COMMON STOCK | 513,011 | $5,094,199 | dollars as filed | |
| OLEMA PHARMACEUTICALS INC | 68062P106 | COM | 200,000 | $5,000,000 | dollars as filed | call |
| LEGEND BIOTECH CORP | 52490G102 | SPONSORED ADS | 226,888 | $4,932,546 | dollars as filed | |
| JADE BIOSCIENCES INC | 008064206 | COM NEW | 300,000 | $4,629,001 | dollars as filed | |
| EUPRAXIA PHARMACEUTICALS INC | 29842P105 | COM 298736 AL 3 EURONET WORLDWIDE INC NOTE 0.750% 3/1 | 610,000 | $4,605,500 | dollars as filed | |
| DELCATH SYSTEMS INC | 24661P807 | COMMON STOCK | 431,251 | $4,355,635 | dollars as filed | |
| COMPASS THERAPEUTICS INC | 20454B104 | COM | 800,000 | $4,296,000 | dollars as filed | |
| ADMA BIOLOGICS INC | 000899104 | COM | 234,854 | $4,283,737 | dollars as filed | |
| ARVINAS INC | 04335A105 | COM | 358,257 | $4,248,929 | dollars as filed | |
| ZURA BIO LTD | G9TY5A101 | COMMON STOCK | 802,322 | $4,204,167 | dollars as filed | |
| KARYOPHARM THERAPEUTICS INC | 48576U205 | COMMON STOCK | 544,554 | $4,007,918 | dollars as filed | |
| AGIOS PHARMACEUTICALS INC | 00847X104 | COM | 137,200 | $3,734,584 | dollars as filed | call |
| KRYSTAL BIOTECH INC COM | 501147102 | Stock | 14,814 | $3,652,243 | dollars as filed | |
| TG THERAPEUTICS INC COM | 88322Q108 | Stock | 117,903 | $3,514,689 | dollars as filed | |
| VIR BIOTECHNOLOGY INC | 92764N102 | COM | 575,712 | $3,471,543 | dollars as filed | |
| NEXTCURE INC | 65343E207 | COM NEW | 238,303 | $3,381,520 | dollars as filed | |
| ALECTOR INC | 014442107 | COMMON STOCK | 2,082,606 | $3,248,866 | dollars as filed | |
| CONTINEUM THERAPEUTICS INC CL A | 21217B100 | Stock | 282,874 | $3,233,250 | dollars as filed | |
| AQUESTIVE THERAPEUTICS INC COM | 03843E104 | Stock | 500,000 | $3,230,000 | dollars as filed | put |
| SOLENO THERAPEUTICS INC | 834203309 | COM | 68,823 | $3,186,505 | dollars as filed | |
| AGIOS PHARMACEUTICALS INC | 00847X104 | COM | 115,489 | $3,143,611 | dollars as filed | |
| PERCEPTIVE CAPITAL SOLUTIONS | G70077105 | CL A ORD SHS | 240,951 | $3,139,592 | dollars as filed | |
| QUOIN PHARMACEUTICALS LTD | 74907L409 | SPONSORED ADS | 211,538 | $3,052,493 | dollars as filed | |
| KALARIS THERAPEUTICS INC | 482929106 | COM | 360,000 | $3,038,401 | dollars as filed | |
| PROQR THERAPEUTICS NV | N71542109 | SHS EURO | 1,492,229 | $3,014,301 | dollars as filed | |
| PEPGEN INC COM | 713317105 | Stock | 447,165 | $2,911,043 | dollars as filed | |
| COMPASS PATHWAYS PLC | 20451W101 | SPONSORED ADS | 400,000 | $2,760,000 | dollars as filed | |
| BRIDGEBIO ONCOLOGY THERAPEUT | 107924102 | COM NEW | 220,231 | $2,757,291 | dollars as filed | |
| ERASCA INC COM | 29479A108 | Stock | 735,396 | $2,735,673 | dollars as filed | |
| TARSUS PHARMACEUTICALS INC | 87650L103 | COMMON STOCK | 31,166 | $2,551,872 | dollars as filed | |
| UNIQURE NV | N90064901 | CALL | 105,400 | $2,522,222 | dollars as filed | call |
| FRACTYL HEALTH INC | 35168W103 | COM | 1,100,000 | $2,420,001 | dollars as filed | |
| BIOHAVEN LTD | G1110E107 | COM | 212,481 | $2,398,910 | dollars as filed | |
| SOLID BIOSCIENCES INC | 83422E204 | COMMON STOCK | 424,000 | $2,391,360 | dollars as filed | call |
| INVENTIVA SA | 46124U107 | ADS | 502,601 | $2,328,852 | dollars as filed | |
| NEUMORA THERAPEUTICS INC. | 640979100 | COM | 1,278,408 | $2,288,351 | dollars as filed | |
| CUMBERLAND PHARMACEUTICALS I | 230770109 | COM | 555,932 | $2,212,609 | dollars as filed | |
| UNIQURE NV | N90064101 | SHS | 91,060 | $2,179,066 | dollars as filed | |
| DBV TECHNOLOGIES S A | 23306J309 | SPONSORED ADS | 525,000 | $2,084,239 | dollars as filed | |
| ALUMIS INC | 022307102 | COM | 211,100 | $2,060,336 | dollars as filed | put |
| CABALETTA BIO INC | 12674W109 | COMMON STOCK | 900,000 | $1,971,000 | dollars as filed | |
| PEPGEN INC COM | 713317105 | Stock | 300,000 | $1,953,000 | dollars as filed | call |
| JOURNEY MED CORP | 48115J109 | COM | 251,436 | $1,938,572 | dollars as filed | |
| IBIO INC | 451033708 | CMN | 957,062 | $1,847,130 | dollars as filed | |
| APELLIS PHARMACEUTICALS INC | 03753U106 | COM | 71,747 | $1,802,285 | dollars as filed | |
| SILENCE THERAPEUTICS PLC | 82686Q101 | ADS | 865,784 | $1,731,568 | dollars as filed | |
| ZENAS BIOPHARMA INC COM | 98937L105 | Stock | 46,800 | $1,699,308 | dollars as filed | put |
| ZENAS BIOPHARMA INC COM | 98937L105 | Stock | 46,800 | $1,699,308 | dollars as filed | call |
| VERASTEM INC | 92337C203 | COMMON STOCK | 213,865 | $1,651,039 | dollars as filed | |
| INSMED INC COM PAR $.01 | 457669307 | Stock | 9,337 | $1,625,012 | dollars as filed | |
| NEWAMSTERDAM PHARMA CO NV | N62509109 | COMMON STOCK | 45,830 | $1,607,716 | dollars as filed | |
| LIPOCINE INC NEW | 53630X203 | COM NEW | 199,542 | $1,602,322 | dollars as filed | |
| GOSSAMER BIO INC COM | 38341P102 | Stock | 500,000 | $1,550,000 | dollars as filed | put |
| GOSSAMER BIO INC COM | 38341P102 | Stock | 500,000 | $1,550,000 | dollars as filed | call |
| NEKTAR THERAPEUTICS | 640268306 | COMMON STOCK | 36,300 | $1,534,764 | dollars as filed | put |
| NEKTAR THERAPEUTICS | 640268306 | COMMON STOCK | 36,300 | $1,534,764 | dollars as filed | call |
| INSMED INC COM PAR $.01 | 457669307 | Stock | 8,600 | $1,496,744 | dollars as filed | call |
| SURROZEN INC | 86889P208 | COMMON STOCK | 65,788 | $1,486,809 | dollars as filed | |
| WAVE LIFE SCIENCES LTD SHS | Y95308105 | Stock | 85,285 | $1,449,845 | dollars as filed | |
| TRAVERE THERAPEUTICS INC | 89422G107 | COM | 36,600 | $1,398,486 | dollars as filed | call |
| CATALYST PHARMACEUTICALS INC | 14888U101 | COM | 57,388 | $1,339,436 | dollars as filed | |
| LYELL IMMUNOPHARMA INC COM NEW | 55083R203 | Stock | 41,081 | $1,264,473 | dollars as filed | |
| ANNEXON INC | 03589W102 | COM | 230,244 | $1,155,826 | dollars as filed | |
| CYBIN INC | 23256X407 | COM NEW | 132,153 | $1,081,012 | dollars as filed | |
| AVALO THERAPEUTICS INC | 05338F306 | COMMON STOCK | 58,100 | $1,055,096 | dollars as filed | call |
| NEURONETICS INC | 64131A105 | COM | 701,182 | $967,631 | dollars as filed | |
| SOLID BIOSCIENCES INC | 83422E204 | COMMON STOCK | 160,409 | $904,707 | dollars as filed | |
| DIREXION SHARES ETF TRUST | 25461H853 | CMN | 40,822 | $859,712 | dollars as filed | |
| IO BIOTECH INC | 449778109 | COM | 1,386,565 | $844,279 | dollars as filed | |
| MIND MEDICINE MINDMED INC | 60255C885 | COM NEW | 58,803 | $787,373 | dollars as filed | |
| TRAWS PHARMA INC | 68232V884 | COM NEW | 678,142 | $766,299 | dollars as filed | |
| PALISADE BIO INC | 696389402 | COMMON STOCK | 274,978 | $646,199 | dollars as filed | |
| KEZAR LIFE SCIENCES INC | 49372L209 | COM NEW | 102,211 | $642,907 | dollars as filed | |
| KALVISTA PHARMACEUTICALS INC | 483497103 | COM | 35,119 | $567,173 | dollars as filed | |
| AVALO THERAPEUTICS INC | 05338F306 | COMMON STOCK | 31,106 | $564,885 | dollars as filed | |
| ACUMEN PHARMACEUTICALS INC | 00509G209 | CMN | 254,312 | $536,599 | dollars as filed | |
| SANGAMO THERAPEUTICS INC | 800677106 | COM | 1,218,671 | $511,842 | dollars as filed | |
| IMMATICS N.V | N44445109 | SHS | 48,569 | $509,976 | dollars as filed | |
| EQUILLIUM INC | 29446K106 | COM | 303,555 | $470,510 | dollars as filed | |
| CONNECT BIOPHARMA HLDGS LTD | G23549101 | SHS | 144,600 | $407,772 | dollars as filed | call |
| OVID THERAPEUTICS INC | 690469101 | COMMON STOCK | 247,558 | $403,520 | dollars as filed | |
| IMMUNIC INC | 4525EP101 | COM | 674,662 | $360,067 | dollars as filed | |
| EVAXION AS | 29970R303 | SPONSORED ADS | 74,698 | $356,310 | dollars as filed | |
| VISTAGEN THERAPEUTICS INC | 92840H400 | COM | 519,077 | $343,576 | dollars as filed | |
| VIKING THERAPEUTICS INC | 92686J106 | COM | 9,717 | $341,844 | dollars as filed | |
| STRUCTURE THERAPEUTICS INC COMP | 86366E106 | EQUITY | 4,824 | $335,510 | dollars as filed | |
| ULTRAGENYX PHARMACEUTICAL IN | 90400D108 | COM | 12,671 | $291,433 | dollars as filed | |
| VERU INC | 92536C202 | COM NEW | 133,517 | $285,726 | dollars as filed | |
| CNS PHARMACEUTICALS INC | 18978H508 | COM | 45,830 | $240,608 | dollars as filed | |
| FAETH THERAPEUTICS INC | 81728A207 | COM NEW | 21,351 | $227,815 | dollars as filed | |
| NYXOAH S A | B6S7WD106 | SHS | 47,358 | $217,846 | dollars as filed | |
| VOYAGER THERAPEUTICS INC | 92915B106 | COMMON STOCK | 53,063 | $208,538 | dollars as filed | |
| LEXICON PHARMACEUTICALS INC | 528872302 | COMMON STOCK | 164,674 | $189,376 | dollars as filed | |
| NEUPHORIA THERAPEUTICS INC | 64136E102 | COM | 47,443 | $184,079 | dollars as filed | |
| GLUCOTRACK INC | 45824Q804 | COM NEW | 45,830 | $177,362 | dollars as filed | |
| VYNE THERAPEUTICS INC | 92941V308 | COM | 264,912 | $153,675 | dollars as filed | |
| CARTESIAN THERAPEUTICS INC | 816212302 | COMMON STOCK | 20,807 | $150,018 | dollars as filed | |
| SHUTTLE PHARMACTCLS HLDGS IN | 825693401 | COM | 68,993 | $124,187 | dollars as filed | |
| MACROGENICS INC | 556099109 | COM | 74,893 | $120,578 | dollars as filed | |
| PMV PHARMACEUTICALS INC | 69353Y103 | COM | 89,136 | $111,421 | dollars as filed | |
| HYPERLIQUID STRATEGIES | 44916Y106 | COMMON STOCK | 30,001 | $106,804 | dollars as filed | |
| MANGOCEUTICALS INC | 56270V205 | CMN | 138,146 | $102,229 | dollars as filed | |
| CHEMOMAB THERAPEUTICS LTD | 16385C203 | SPONSORED ADS | 51,793 | $85,458 | dollars as filed | |
| LYRA THERAPEUTICS INC | 55234L204 | COM NEW | 21,161 | $65,176 | dollars as filed | |
| JASPER THERAPEUTICS INC | 471871202 | COM NEW | 24,093 | $44,090 | dollars as filed | |
| AETHLON MED INC | 00808Y604 | COM NEW | 14,364 | $39,788 | dollars as filed | |
| REZOLUTE INC | 76200L309 | COMMON STOCK | 16,479 | $38,891 | dollars as filed | |
| BIOMX INC | 09090D509 | COM NEW | 19,473 | $36,414 | dollars as filed | |
| AIRSCULPT TECHNOLOGIES INC | 009496100 | COMMON STOCK | 16,398 | $32,468 | dollars as filed | |
| THERIVA BIOLOGICS INC | 87164U508 | COM NEW | 112,076 | $23,580 | dollars as filed | |
| SYNLOGIC INC | 87166L209 | COM | 19,966 | $22,362 | dollars as filed | |
| ANEBULO PHARMACEUTICALS INC | 034569103 | COM | 17,736 | $17,913 | dollars as filed | |
| AUTONOMIX MED INC | 05330T205 | COM NEW | 18,688 | $10,278 | dollars as filed |
Amendment chain
| Filing | Role | Filed | Accepted | Ingested |
|---|---|---|---|---|
| 13F-HR 0001420506-26-000592 | this filing | 2026-02-18 | acceptance time not in the bulk data set |