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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 $2,500,738,743 across 49 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 67.82% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001892134-25-000006

Period
2025-06-30
Reported value
$2.5B
Holdings
49
Top 10 weight
67.82%
New
8
Sold out
6

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ZLABadded+958,138$33.5M
AURAnew+5,100,000$31.9M
PHATadded+2,357,210$22.6M
EOLSnew+2,435,550$22.4M
AKROnew+366,784$19.6M

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
RYTMexited-678,760-$36M
SLNOexited-499,159-$35.7M
MERUS N Vexited-373,100-$15.7M
ACADexited-470,338-$7.81M
RCKTexited-1,079,025-$7.2M

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, Q2 2025

Share positions as resolved from 13F-HR 0001892134-25-000006, largest first. % of portfolio is the value over $2,500,738,743, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
MIRMMIRUM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,570,392 shares; 2024Q4: 6,570,392 shares; 2025Q1: 6,795,121 shares; 2025Q2: 6,795,121 shares 6,795,121$346M13.83%0Timeline
VERONA PHARMA PLCVERONA PHARMA PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,383,950 shares; 2024Q4: 3,383,950 shares; 2025Q1: 3,457,850 shares; 2025Q2: 3,383,950 shares 3,383,950$320M12.8%-73,900
NAMSNEWAMSTERDAM PHARMA COMPANYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,855,194 shares; 2024Q4: 15,916,418 shares; 2025Q1: 16,116,418 shares; 2025Q2: 16,607,074 shares 16,607,074$301M12.03%+490,656Timeline
BBIOBRIDGEBIO PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,760,457 shares; 2024Q4: 3,800,457 shares; 2025Q1: 3,800,457 shares; 2025Q2: 3,800,457 shares 3,800,457$164M6.56%0Timeline
ARQTARCUTIS BIOTHERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,785,284 shares; 2024Q4: 8,785,284 shares; 2025Q1: 8,785,284 shares; 2025Q2: 9,874,511 shares 9,874,511$138M5.54%+1,089,227Timeline
PHATPHATHOM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,109,279 shares; 2024Q4: 10,109,279 shares; 2025Q1: 10,109,279 shares; 2025Q2: 12,466,489 shares 12,466,489$120M4.78%+2,357,210Timeline
KRYSKRYSTAL BIOTECH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 988,460 shares; 2024Q4: 788,460 shares; 2025Q1: 688,460 shares; 2025Q2: 688,460 shares 688,460$94.6M3.78%0Timeline
IRONDISC MEDICINE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,754,834 shares; 2024Q4: 1,754,834 shares; 2025Q1: 1,754,834 shares; 2025Q2: 1,654,834 shares 1,654,834$87.6M3.5%-100,000Timeline
MBXMBX BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,985,347 shares; 2024Q4: 5,985,347 shares; 2025Q1: 5,985,347 shares; 2025Q2: 5,985,347 shares 5,985,347$68.3M2.73%0Timeline
TARSTARSUS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,587,527 shares; 2024Q4: 1,587,527 shares; 2025Q1: 1,397,527 shares; 2025Q2: 1,397,527 shares 1,397,527$56.6M2.26%0Timeline
TRVITREVI THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,381,090 shares; 2024Q4: 10,664,774 shares; 2025Q1: 10,259,409 shares; 2025Q2: 10,259,409 shares 10,259,409$56.1M2.24%0Timeline
MAZEMAZE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 4,129,001 shares; 2025Q2: 4,567,275 shares 4,567,275$56M2.24%+438,274Timeline
KALVKALVISTA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,687,867 shares; 2024Q4: 4,887,867 shares; 2025Q1: 4,887,867 shares; 2025Q2: 4,887,867 shares 4,887,867$55.3M2.21%0Timeline
ZLABZAI LAB LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 350,000 shares; 2025Q2: 1,308,138 shares 1,308,138$45.7M1.83%+958,138Timeline
AGIOAGIOS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,044,154 shares; 2024Q4: 1,069,754 shares; 2025Q1: 1,069,854 shares; 2025Q2: 1,279,754 shares 1,279,754$42.6M1.7%+209,900Timeline
RVMDREVOLUTION MEDICINES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 997,455 shares; 2024Q4: 997,455 shares; 2025Q1: 997,455 shares; 2025Q2: 997,455 shares 997,455$36.7M1.47%0Timeline
RAREULTRAGENYX PHARMACEUTICAL INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 633,715 shares; 2024Q4: 658,715 shares; 2025Q1: 658,715 shares; 2025Q2: 983,715 shares 983,715$35.8M1.43%+325,000Timeline
AURAAURA BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,100,000 shares 5,100,000$31.9M1.28%newTimeline
ERASERASCA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 19,391,687 shares; 2024Q4: 19,391,687 shares; 2025Q1: 22,575,851 shares; 2025Q2: 22,729,436 shares 22,729,436$28.9M1.15%+153,585Timeline
ALKSALKERMES PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 576,129 shares; 2024Q4: 601,129 shares; 2025Q1: 601,129 shares; 2025Q2: 1,000,647 shares 1,000,647$28.6M1.14%+399,518Timeline
SVRASAVARA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,157,385 shares; 2024Q4: 8,660,379 shares; 2025Q1: 11,462,301 shares; 2025Q2: 11,462,301 shares 11,462,301$26.1M1.05%0Timeline
MREOMEREO BIOPHARMA GROUP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,097,779 shares; 2024Q4: 5,097,779 shares; 2025Q1: 7,819,863 shares; 2025Q2: 9,440,112 shares 9,440,112$25.6M1.02%+1,620,249Timeline
ASNDASCENDIS PHARMA A/SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 133,333 shares; 2024Q4: 133,333 shares; 2025Q1: 133,333 shares; 2025Q2: 133,333 shares 133,333$23M0.92%0Timeline
EOLSEVOLUS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 2,435,550 shares 2,435,550$22.4M0.9%newTimeline
HILLEVAX INCHILLEVAX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,617,062 shares; 2024Q4: 10,617,062 shares; 2025Q1: 10,617,062 shares; 2025Q2: 10,617,062 shares 10,617,062$21.1M0.84%0
CGONCG ONCOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 770,000 shares; 2024Q4: 770,000 shares; 2025Q1: 770,000 shares; 2025Q2: 770,000 shares 770,000$20M0.8%0Timeline
AKROAKERO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 366,784 shares 366,784$19.6M0.78%newTimeline
CYTKCYTOKINETICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 554,731 shares 554,731$18.3M0.73%newTimeline
LXEOLEXEO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,250,786 shares; 2024Q4: 955,515 shares; 2025Q1: 955,515 shares; 2025Q2: 4,424,725 shares 4,424,725$17.8M0.71%+3,469,210Timeline
RNAMAVIDITY BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 525,000 shares; 2025Q2: 625,000 shares 625,000$17.8M0.71%+100,000Timeline
JBIOJADE BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,772,116 shares 1,772,116$17.7M0.71%newTimeline
PVLAPALVELLA THERAPEUTICS INC NEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 653,892 shares; 2025Q1: 690,012 shares; 2025Q2: 722,400 shares 722,400$16.3M0.65%+32,388Timeline
PCVXVAXCYTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 879,405 shares; 2024Q4: 539,405 shares; 2025Q1: 539,405 shares; 2025Q2: 474,405 shares 474,405$15.4M0.62%-65,000Timeline
TVTXTRAVERE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,002,092 shares 1,002,092$14.8M0.59%newTimeline
DYNDYNE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,443,341 shares; 2025Q2: 1,505,984 shares 1,505,984$14.3M0.57%+62,643Timeline
COGTCOGENT BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 936,576 shares; 2024Q4: 936,576 shares; 2025Q1: 936,576 shares; 2025Q2: 1,734,601 shares 1,734,601$12.5M0.5%+798,025Timeline
IMCRIMMUNOCORE HLDGS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 108,762 shares; 2024Q4: 108,762 shares; 2025Q1: 301,170 shares; 2025Q2: 384,782 shares 384,782$12.1M0.48%+83,612Timeline
ORICORIC PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,142,855 shares; 2024Q4: 3,888,238 shares; 2025Q1: 1,410,193 shares; 2025Q2: 1,065,334 shares 1,065,334$10.8M0.43%-344,859Timeline
AUTLAUTOLUS THERAPEUTICS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,623,324 shares; 2024Q4: 4,623,324 shares; 2025Q1: 4,623,324 shares; 2025Q2: 4,623,324 shares 4,623,324$10.5M0.42%0Timeline
VALNVALNEVA SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,458,333 shares 1,458,333$8.24M0.33%newTimeline
CBIOCRESCENT BIOPHARMA INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 453,685 shares 453,685$7.32M0.29%newTimeline
DSGNDESIGN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,892,547 shares; 2024Q4: 1,953,547 shares; 2025Q1: 1,953,547 shares; 2025Q2: 1,953,547 shares 1,953,547$6.58M0.26%0Timeline
ORKAORUKA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 477,327 shares; 2024Q4: 583,327 shares; 2025Q1: 583,327 shares; 2025Q2: 583,327 shares 583,327$6.54M0.26%0Timeline
SLNSILENCE THERAPEUTICS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,148,591 shares; 2024Q4: 1,148,591 shares; 2025Q1: 1,148,591 shares; 2025Q2: 970,130 shares 970,130$5.63M0.23%-178,461Timeline
ALLOALLOGENE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,867,750 shares; 2024Q4: 2,867,750 shares; 2025Q1: 3,868,750 shares; 2025Q2: 3,868,750 shares 3,868,750$4.37M0.17%0Timeline
NEWAMSTERDAM PHARMA COMPANYNEWAMSTERDAM PHARMA COMPANYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 500,333 shares; 2024Q4: 500,333 shares; 2025Q1: 500,333 shares; 2025Q2: 500,333 shares 500,333$4M0.16%0
MGNXMACROGENICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,010,727 shares; 2024Q4: 3,175,665 shares; 2025Q1: 3,175,665 shares; 2025Q2: 3,175,665 shares 3,175,665$3.84M0.15%0Timeline
ADVERUM BIOTECHNOLOGIES INCADVERUM BIOTECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,069,244 shares; 2024Q4: 1,069,244 shares; 2025Q1: 1,069,244 shares; 2025Q2: 1,069,244 shares 1,069,244$2.3M0.09%0
ELEVATION ONCOLOGY INC COMELEVATION ONCOLOGY INC COMQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,993,579 shares; 2024Q4: 5,993,579 shares; 2025Q1: 5,993,579 shares; 2025Q2: 5,993,579 shares 5,993,579$2.2M0.09%0

Sold out in Q2 2025

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

SecurityShares beforeValue beforeType
RYTMRHYTHM PHARMACEUTICALS INC678,760$36Mshares
SLNOSOLENO THERAPEUTICS INC499,159$35.7Mshares
MERUS N VMERUS N V373,100$15.7Mshares
ACADACADIA PHARMACEUTICALS INC470,338$7.81Mshares
RCKTROCKET PHARMACEUTICALS INC1,079,025$7.2Mshares
IMTXIMMATICS N.V1,247,911$5.63Mshares

How Q2 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 0001892134-25-000006 base2025-08-14acceptance time not in the bulk data set