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Frazier Life Sciences Management, L.P.

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13F filer, CIK 1892134, PALO ALTO, CA

Frazier Life Sciences Management, L.P. reported $2,187,908,599 across 47 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-15. Its ten largest share positions make up 70.17% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001892134-25-000005

Period
2025-03-31
Reported value
$2.19B
Holdings
47
Top 10 weight
70.17%
New
4
Sold out
7

Largest buys vs the previous quarter

SecurityShares changeApprox. value
MAZEnew+4,129,001$45.5M
RNAMnew+525,000$15.5M
DYNnew+1,443,341$15.1M
ZLABnew+350,000$12.6M
MIRMadded+224,729$10.1M

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
RYTMreduced-1,191,048-$63.1M
EWTXexited-1,271,245-$33.9M
ANABexited-1,573,719-$20.8M
KRYSreduced-100,000-$18M
PLRXexited-1,120,803-$14.8M

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 2025

Share positions as resolved from 13F-HR 0001892134-25-000005, largest first. % of portfolio is the value over $2,187,908,599, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
NAMSNEWAMSTERDAM PHARMA COMPANYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,855,194 shares; 2024Q4: 15,916,418 shares; 2025Q1: 16,116,418 shares 16,116,418$330M15.08%+200,000Timeline
MIRMMIRUM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,570,392 shares; 2024Q4: 6,570,392 shares; 2025Q1: 6,795,121 shares 6,795,121$306M13.99%+224,729Timeline
VERONA PHARMA PLCVERONA PHARMA PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,383,950 shares; 2024Q4: 3,383,950 shares; 2025Q1: 3,457,850 shares 3,457,850$220M10.03%+73,900
ARQTARCUTIS BIOTHERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,785,284 shares; 2024Q4: 8,785,284 shares; 2025Q1: 8,785,284 shares 8,785,284$137M6.28%0Timeline
BBIOBRIDGEBIO PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,760,457 shares; 2024Q4: 3,800,457 shares; 2025Q1: 3,800,457 shares 3,800,457$131M6%0Timeline
KRYSKRYSTAL BIOTECH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 988,460 shares; 2024Q4: 788,460 shares; 2025Q1: 688,460 shares 688,460$124M5.67%-100,000Timeline
IRONDISC MEDICINE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,754,834 shares; 2024Q4: 1,754,834 shares; 2025Q1: 1,754,834 shares 1,754,834$87.1M3.98%0Timeline
TARSTARSUS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,587,527 shares; 2024Q4: 1,587,527 shares; 2025Q1: 1,397,527 shares 1,397,527$71.8M3.28%-190,000Timeline
TRVITREVI THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,381,090 shares; 2024Q4: 10,664,774 shares; 2025Q1: 10,259,409 shares 10,259,409$64.5M2.95%-405,365Timeline
PHATPHATHOM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,109,279 shares; 2024Q4: 10,109,279 shares; 2025Q1: 10,109,279 shares 10,109,279$63.4M2.9%0Timeline
KALVKALVISTA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,687,867 shares; 2024Q4: 4,887,867 shares; 2025Q1: 4,887,867 shares 4,887,867$56.4M2.58%0Timeline
MAZEMAZE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 4,129,001 shares 4,129,001$45.5M2.08%newTimeline
MBXMBX BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,985,347 shares; 2024Q4: 5,985,347 shares; 2025Q1: 5,985,347 shares 5,985,347$44.2M2.02%0Timeline
RYTMRHYTHM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,416,952 shares; 2024Q4: 1,869,808 shares; 2025Q1: 678,760 shares 678,760$36M1.64%-1,191,048Timeline
SLNOSOLENO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 875,667 shares; 2024Q4: 699,159 shares; 2025Q1: 499,159 shares 499,159$35.7M1.63%-200,000Timeline
RVMDREVOLUTION MEDICINES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 997,455 shares; 2024Q4: 997,455 shares; 2025Q1: 997,455 shares 997,455$35.3M1.61%0Timeline
SVRASAVARA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,157,385 shares; 2024Q4: 8,660,379 shares; 2025Q1: 11,462,301 shares 11,462,301$31.8M1.45%+2,801,922Timeline
AGIOAGIOS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,044,154 shares; 2024Q4: 1,069,754 shares; 2025Q1: 1,069,854 shares 1,069,854$31.3M1.43%+100Timeline
ERASERASCA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 19,391,687 shares; 2024Q4: 19,391,687 shares; 2025Q1: 22,575,851 shares 22,575,851$30.9M1.41%+3,184,164Timeline
RAREULTRAGENYX PHARMACEUTICAL INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 633,715 shares; 2024Q4: 658,715 shares; 2025Q1: 658,715 shares 658,715$23.9M1.09%0Timeline
ASNDASCENDIS PHARMA A/SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 133,333 shares; 2024Q4: 133,333 shares; 2025Q1: 133,333 shares 133,333$20.8M0.95%0Timeline
PCVXVAXCYTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 879,405 shares; 2024Q4: 539,405 shares; 2025Q1: 539,405 shares 539,405$20.4M0.93%0Timeline
ALKSALKERMES PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 576,129 shares; 2024Q4: 601,129 shares; 2025Q1: 601,129 shares 601,129$19.8M0.91%0Timeline
PVLAPALVELLA THERAPEUTICS INC NEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 653,892 shares; 2025Q1: 690,012 shares 690,012$19.3M0.88%+36,120Timeline
CGONCG ONCOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 770,000 shares; 2024Q4: 770,000 shares; 2025Q1: 770,000 shares 770,000$18.9M0.86%0Timeline
MREOMEREO BIOPHARMA GROUP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,097,779 shares; 2024Q4: 5,097,779 shares; 2025Q1: 7,819,863 shares 7,819,863$17.6M0.8%+2,722,084Timeline
MERUS N VMERUS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 373,100 shares; 2024Q4: 373,100 shares; 2025Q1: 373,100 shares 373,100$15.7M0.72%0
RNAMAVIDITY BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 525,000 shares 525,000$15.5M0.71%newTimeline
HILLEVAX INCHILLEVAX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,617,062 shares; 2024Q4: 10,617,062 shares; 2025Q1: 10,617,062 shares 10,617,062$15.4M0.7%0
DYNDYNE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,443,341 shares 1,443,341$15.1M0.69%newTimeline
ZLABZAI LAB LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 350,000 shares 350,000$12.6M0.58%newTimeline
IMCRIMMUNOCORE HLDGS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 108,762 shares; 2024Q4: 108,762 shares; 2025Q1: 301,170 shares 301,170$8.94M0.41%+192,408Timeline
ORICORIC PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,142,855 shares; 2024Q4: 3,888,238 shares; 2025Q1: 1,410,193 shares 1,410,193$7.87M0.36%-2,478,045Timeline
ACADACADIA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 470,338 shares; 2024Q4: 470,338 shares; 2025Q1: 470,338 shares 470,338$7.81M0.36%0Timeline
DSGNDESIGN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,892,547 shares; 2024Q4: 1,953,547 shares; 2025Q1: 1,953,547 shares 1,953,547$7.54M0.34%0Timeline
RCKTROCKET PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,485,630 shares; 2024Q4: 1,479,025 shares; 2025Q1: 1,079,025 shares 1,079,025$7.2M0.33%-400,000Timeline
AUTLAUTOLUS THERAPEUTICS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,623,324 shares; 2024Q4: 4,623,324 shares; 2025Q1: 4,623,324 shares 4,623,324$7.17M0.33%0Timeline
ORKAORUKA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 477,327 shares; 2024Q4: 583,327 shares; 2025Q1: 583,327 shares 583,327$5.98M0.27%0Timeline
ALLOALLOGENE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,867,750 shares; 2024Q4: 2,867,750 shares; 2025Q1: 3,868,750 shares 3,868,750$5.65M0.26%+1,001,000Timeline
IMTXIMMATICS N.VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,354,711 shares; 2024Q4: 2,147,911 shares; 2025Q1: 1,247,911 shares 1,247,911$5.63M0.26%-900,000Timeline
COGTCOGENT BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 936,576 shares; 2024Q4: 936,576 shares; 2025Q1: 936,576 shares 936,576$5.61M0.26%0Timeline
ADVERUM BIOTECHNOLOGIES INCADVERUM BIOTECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,069,244 shares; 2024Q4: 1,069,244 shares; 2025Q1: 1,069,244 shares 1,069,244$4.67M0.21%0
NAMSWNEWAMSTERDAM PHARMA COMPANYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 500,333 shares; 2024Q4: 500,333 shares; 2025Q1: 500,333 shares 500,333$4.5M0.21%0Timeline
MGNXMACROGENICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,010,727 shares; 2024Q4: 3,175,665 shares; 2025Q1: 3,175,665 shares 3,175,665$4.03M0.18%0Timeline
LXEOLEXEO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,250,786 shares; 2024Q4: 955,515 shares; 2025Q1: 955,515 shares 955,515$3.32M0.15%0Timeline
SLNSILENCE THERAPEUTICS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,148,591 shares; 2024Q4: 1,148,591 shares; 2025Q1: 1,148,591 shares 1,148,591$3.24M0.15%0Timeline
ELEVATION ONCOLOGY INC COMELEVATION ONCOLOGY INC COMQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,993,579 shares; 2024Q4: 5,993,579 shares; 2025Q1: 5,993,579 shares 5,993,579$1.55M0.07%0

Sold out in Q1 2025

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

SecurityShares beforeValue beforeType
EWTXEDGEWISE THERAPEUTICS INC1,271,245$33.9Mshares
ANABANAPTYSBIO INC1,573,719$20.8Mshares
PLRXPLIANT THERAPEUTICS INC1,120,803$14.8Mshares
DAWNDAY ONE BIOPHARMACEUTICALS I689,655$8.74Mshares
89BIO INC89BIO INC1,000,000$7.82Mshares
ARVNARVINAS INC285,331$5.47Mshares
ELDNELEDON PHARMACEUTICALS INC1,176,735$4.85Mshares

How Q1 2025 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 0001892134-25-000005 base2025-05-15acceptance time not in the bulk data set