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Caligan Partners LP

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13F filer, CIK 1727492, NEW YORK, NY

Caligan Partners LP reported $1,502,765,917 across 28 holdings for the quarter ended 2026-03-31, in a 13F-HR filed 2026-05-15. Its ten largest share positions make up 78.93% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001420506-26-001039

Period
2026-03-31
Reported value
$1.5B
Holdings
28
Top 10 weight
78.93%
New
11
Sold out
7

Largest buys vs the previous quarter

SecurityShares changeApprox. value
XENEadded+843,362$49M
SYREnew+878,127$44.3M
RVMDadded+368,908$35.9M
LBRXnew+1,438,070$34.6M
SABSnew+7,967,207$30.5M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
TNGXreduced-1,321,097-$27.6M
INBXexited-323,565-$25.6M
RAPTexited-644,400-$21.8M
SPRBexited-20,514-$1.79M
ELDNexited-555,978-$840K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2026

Share positions as resolved from 13F-HR 0001420506-26-001039, largest first. % of portfolio is the value over $1,413,845,692, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
LQDALIQUIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 8,118,592 shares; 2024Q4: 8,118,592 shares; 2025Q1: 8,118,592 shares; 2025Q2: 8,118,892 shares; 2025Q3: 8,118,892 shares; 2025Q4: 8,118,892 shares; 2026Q1: 8,118,892 shares 8,118,892$306M21.67%0Timeline
ABVXABIVAX SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 752,167 shares; 2025Q1: 1,269,119 shares; 2025Q2: 1,674,400 shares; 2025Q3: 1,451,924 shares; 2025Q4: 1,451,924 shares; 2026Q1: 1,461,924 shares 1,461,924$163M11.51%+10,000Timeline
RVMDREVOLUTION MEDICINES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 465,000 shares; 2025Q2: 636,835 shares; 2025Q3: 1,064,249 shares; 2025Q4: 1,283,900 shares; 2026Q1: 1,652,808 shares 1,652,808$161M11.37%+368,908Timeline
PCVXVAXCYTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,704,815 shares; 2026Q1: 2,060,719 shares 2,060,719$120M8.47%+355,904Timeline
XENEXENON PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 444,565 shares; 2025Q4: 549,665 shares; 2026Q1: 1,393,027 shares 1,393,027$81M5.73%+843,362Timeline
MLYSMINERALYS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 981,155 shares; 2024Q4: 1,011,155 shares; 2025Q1: 2,149,667 shares; 2025Q2: 2,017,352 shares; 2025Q3: 2,772,654 shares; 2025Q4: 2,772,654 shares; 2026Q1: 2,772,654 shares 2,772,654$75.1M5.31%0Timeline
EXELEXELIXIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,525,730 shares; 2024Q4: 1,525,730 shares; 2025Q1: 1,525,730 shares; 2025Q2: 1,525,730 shares; 2025Q3: 1,525,730 shares; 2025Q4: 1,553,262 shares; 2026Q1: 1,553,262 shares 1,553,262$66.6M4.71%0Timeline
TNGXTANGO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 3,729,895 shares; 2026Q1: 2,408,798 shares 2,408,798$50.4M3.56%-1,321,097Timeline
TYRATYRA BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 25,000 shares; 2025Q2: 189,950 shares; 2025Q3: 696,825 shares; 2025Q4: 944,257 shares; 2026Q1: 1,276,968 shares 1,276,968$48.9M3.46%+332,711Timeline
SYRESPYRE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 878,127 shares 878,127$44.3M3.13%newTimeline
ADMAADMA BIOLOGICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 2,636,609 shares; 2025Q4: 3,012,508 shares; 2026Q1: 4,756,511 shares 4,756,511$42.9M3.03%+1,744,003Timeline
LBRXLB PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 1,438,070 shares 1,438,070$34.6M2.45%newTimeline
VORVOR BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 925,067 shares; 2026Q1: 1,925,066 shares 1,925,066$34.3M2.43%+999,999Timeline
SABSSAB BIOTHERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 7,967,207 shares 7,967,207$30.5M2.16%newTimeline
IRDOPUS GENETICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 6,075,028 shares 6,075,028$27.6M1.96%newTimeline
IVAINVENTIVA SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 2,000,000 shares; 2026Q1: 4,974,906 shares 4,974,906$27.6M1.95%+2,974,906Timeline
MBXMBX BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 848,590 shares 848,590$25.3M1.79%newTimeline
AVTXAVALO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 833,333 shares; 2025Q4: 881,533 shares; 2026Q1: 1,635,023 shares 1,635,023$24.4M1.73%+753,490Timeline
ANIKANIKA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,435,130 shares; 2024Q4: 1,435,130 shares; 2025Q1: 1,435,130 shares; 2025Q2: 1,435,130 shares; 2025Q3: 1,435,130 shares; 2025Q4: 1,435,130 shares; 2026Q1: 1,435,130 shares 1,435,130$20.8M1.47%0Timeline
MAZEMAZE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 550,191 shares; 2026Q1: 614,962 shares 614,962$18.4M1.3%+64,771Timeline
VRCAVERRICA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 923,910 shares; 2025Q4: 923,910 shares; 2026Q1: 923,910 shares 923,910$4.89M0.35%0Timeline
FTHFAETH THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 126,002 shares 126,002$3.97M0.28%newTimeline
AURAAURA BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 200,000 shares; 2025Q3: 227,174 shares; 2025Q4: not reported; 2026Q1: 229,864 shares 229,864$1.54M0.11%newTimeline
XLOXILIO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 112,128 shares 112,128$943K0.07%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
CGONCG ONCOLOGY INC COMMON STOCKcall900,000$60.9Mnew
RVMDREVOLUTION MEDICINES INC Stockcall228,900$22.3Mnew
AGIOAGIOS PHARMACEUTICALS INC COMcall90,000$3.04M0
ADMAADMA BIOLOGICS INC COMcall300,000$2.7Mnew

Sold out in Q1 2026

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
MLYSMINERALYS THERAPEUTICS INC2,298,400$83.4Mput
INBXINHIBRX BIOSCIENCES INC323,565$25.6Mshares
XENEXENON PHARMACEUTICALS INC549,700$24.6Mput
RAPTRAPT THERAPEUTICS INC644,400$21.8Mshares
INBXINHIBRX BIOSCIENCES INC150,000$11.8Mcall
SPRBSPRUCE BIOSCIENCES INC20,514$1.79Mshares
ELDNELEDON PHARMACEUTICALS INC555,978$840Kshares

How Q1 2026 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001420506-26-001039 base2026-05-15acceptance time not in the bulk data set