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Ikarian Capital, LLC

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13F filer, CIK 1778253, DALLAS, TX

Ikarian Capital, LLC reported $1,280,884,395 across 174 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-18. Its ten largest share positions make up 40.46% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001420506-26-000592

Period
2025-12-31
Reported value
$1.28B
Holdings
174
Top 10 weight
40.46%
New
68
Sold out
63

Part of the filer group Ikarian Capital, LLC

  • Neil Shahrestani
How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
TERNadded+1,432,176$57.9M
OLMAnew+758,654$19M
PRAXadded+58,010$17.1M
LLYnew+13,815$14.8M
AMGNnew+45,000$14.7M

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
GMABexited-175,000-$53M
ABVXreduced-190,113-$26.9M
IONSreduced-213,125-$16.9M
DNTHexited-346,001-$13.6M
PTCTreduced-161,894-$12.3M

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, Q4 2025

Share positions as resolved from 13F-HR 0001420506-26-000592, largest first. % of portfolio is the value over $772,561,388, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
TERNTERNS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 308,497 shares; 2024Q4: 308,491 shares; 2025Q1: 308,491 shares; 2025Q2: 58,491 shares; 2025Q3: 164,202 shares; 2025Q4: 1,596,378 shares 1,596,378$64.5M8.35%+1,432,176Timeline
CDTXCIDARA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 53,940 shares; 2025Q1: 248,940 shares; 2025Q2: 464,488 shares; 2025Q3: 277,704 shares; 2025Q4: 273,243 shares 273,243$60.4M7.81%-4,461Timeline
ABVXABIVAX SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 396,098 shares; 2025Q4: 205,985 shares 205,985$29.1M3.77%-190,113Timeline
JAZZJAZZ PHARMACEUTICALS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 40,000 shares; 2025Q3: 77,800 shares; 2025Q4: 160,367 shares 160,367$27.3M3.53%+82,567Timeline
MAZEMAZE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 322,740 shares; 2025Q2: 262,740 shares; 2025Q3: 740,825 shares; 2025Q4: 644,680 shares 644,680$26.7M3.46%-96,145Timeline
PRAXPRAXIS PRECISION MEDICINES IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 145,502 shares; 2025Q2: 276,950 shares; 2025Q3: 28,571 shares; 2025Q4: 86,581 shares 86,581$25.5M3.3%+58,010Timeline
RAPTRAPT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 615,000 shares; 2025Q4: 665,271 shares 665,271$22.5M2.92%+50,271Timeline
KODKODIAK SCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 476,586 shares; 2024Q4: 576,166 shares; 2025Q1: 649,534 shares; 2025Q2: 599,534 shares; 2025Q3: 413,841 shares; 2025Q4: 719,787 shares 719,787$20.1M2.61%+305,946Timeline
OLMAOLEMA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 92,000 shares; 2024Q4: 91,994 shares; 2025Q1: 191,994 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 758,654 shares 758,654$19M2.45%newTimeline
PCVXVAXCYTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 200,000 shares; 2025Q2: 305,000 shares; 2025Q3: 311,682 shares; 2025Q4: 378,682 shares 378,682$17.5M2.26%+67,000Timeline
CAPRCAPRICOR THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 300,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 264,642 shares; 2025Q4: 578,015 shares 578,015$16.7M2.16%+313,373Timeline
IONSIONIS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 415,163 shares; 2025Q4: 202,038 shares 202,038$16M2.07%-213,125Timeline
FULCFULCRUM THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 75,000 shares; 2024Q4: 200,096 shares; 2025Q1: 200,096 shares; 2025Q2: 428,521 shares; 2025Q3: 1,289,225 shares; 2025Q4: 1,375,472 shares 1,375,472$15.6M2.01%+86,247Timeline
LLYELI LILLY & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 13,815 shares 13,815$14.8M1.92%newTimeline
RLMDRELMADA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 40,369 shares; 2024Q4: 40,270 shares; 2025Q1: 40,270 shares; 2025Q2: 40,270 shares; 2025Q3: 1,843,060 shares; 2025Q4: 3,068,359 shares 3,068,359$14.8M1.92%+1,225,299Timeline
AMGNAMGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,300 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 45,000 shares 45,000$14.7M1.91%newTimeline
CTMXCYTOMX THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,924 shares; 2024Q4: 8,924 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 3,372,616 shares; 2025Q4: 3,172,616 shares 3,172,616$13.5M1.75%-200,000Timeline
PHVSPHARVARIS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 210,165 shares; 2025Q4: 486,856 shares 486,856$13.5M1.75%+276,691Timeline
CNTBCONNECT BIOPHARMA HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 4,788,486 shares 4,788,486$13.5M1.75%newTimeline
DRUGBRIGHT MINDS BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 152,211 shares; 2025Q1: 65,431 shares; 2025Q2: 65,431 shares; 2025Q3: 15,431 shares; 2025Q4: 159,421 shares 159,421$12.4M1.61%+143,990Timeline
TENXTENAX THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 967,600 shares; 2025Q4: 967,600 shares 967,600$11.8M1.53%0Timeline
RVMDREVOLUTION MEDICINES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 138,142 shares 138,142$11M1.42%newTimeline
CYTKCYTOKINETICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 170,147 shares; 2024Q4: 149,982 shares; 2025Q1: 149,982 shares; 2025Q2: 233,464 shares; 2025Q3: 222,674 shares; 2025Q4: 172,672 shares 172,672$11M1.42%-50,002Timeline
SPRBSPRUCE BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 13,332 shares; 2025Q4: 121,356 shares 121,356$10.6M1.37%+108,024Timeline
CELCCELCUITY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 105,545 shares 105,545$10.5M1.36%newTimeline
ANROALTO NEUROSCIENCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 350,000 shares; 2025Q1: 175,000 shares; 2025Q2: 110,000 shares; 2025Q3: 110,000 shares; 2025Q4: 515,000 shares 515,000$9.17M1.19%+405,000Timeline
PTCTPTC THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 280,551 shares; 2025Q4: 118,657 shares 118,657$9.01M1.17%-161,894Timeline
HROWHARROW INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 183,347 shares 183,347$8.98M1.16%newTimeline
VTYXVENTYX BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 192,647 shares; 2024Q4: 1,092,590 shares; 2025Q1: 1,217,590 shares; 2025Q2: 967,590 shares; 2025Q3: 1,309,604 shares; 2025Q4: 958,704 shares 958,704$8.66M1.12%-350,900Timeline
CGONCG ONCOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 155,000 shares; 2025Q3: 249,473 shares; 2025Q4: 199,473 shares 199,473$8.28M1.07%-50,000Timeline
FBRXFORTE BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 609,225 shares; 2025Q1: 609,225 shares; 2025Q2: 476,443 shares; 2025Q3: 300,000 shares; 2025Q4: 300,000 shares 300,000$8.18M1.06%0Timeline
PTHSPELTHOS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 62,451 shares; 2025Q4: 255,758 shares 255,758$7.93M1.03%+193,307Timeline
NBIXNEUROCRINE BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 54,062 shares 54,062$7.67M0.99%newTimeline
MLYSMINERALYS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 180,000 shares; 2024Q4: 332,390 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 200,000 shares 200,000$7.26M0.94%newTimeline
ACOGALPHA COGNITION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 755,867 shares; 2025Q1: 967,867 shares; 2025Q2: 917,867 shares; 2025Q3: 946,259 shares; 2025Q4: 1,056,259 shares 1,056,259$6.87M0.89%+110,000Timeline
DMRADAMORA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 285,710 shares 285,710$6.57M0.85%newTimeline
IVVDINVIVYD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 2,078,706 shares; 2025Q4: 2,656,570 shares 2,656,570$6.56M0.85%+577,864Timeline
CORTCORCEPT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 185,593 shares 185,593$6.46M0.84%newTimeline
NUVLNUVALENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 52,238 shares; 2024Q4: 52,216 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 59,594 shares 59,594$5.99M0.78%newTimeline
LXEOLEXEO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 257,216 shares; 2024Q4: 499,301 shares; 2025Q1: 550,029 shares; 2025Q2: 550,029 shares; 2025Q3: 567,601 shares; 2025Q4: 513,011 shares 513,011$5.09M0.66%-54,590Timeline
LEGNLEGEND BIOTECH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 226,888 shares 226,888$4.93M0.64%newTimeline
JBIOJADE BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 300,000 shares 300,000$4.63M0.6%newTimeline
EPRXEUPRAXIA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 610,000 shares 610,000$4.61M0.6%newTimeline
DCTHDELCATH SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100,370 shares; 2024Q4: 100,365 shares; 2025Q1: 100,365 shares; 2025Q2: 322,390 shares; 2025Q3: 431,251 shares; 2025Q4: 431,251 shares 431,251$4.36M0.56%0Timeline
CMPXCOMPASS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 800,000 shares 800,000$4.3M0.56%newTimeline
ADMAADMA BIOLOGICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 159,854 shares; 2025Q4: 234,854 shares 234,854$4.28M0.55%+75,000Timeline
ARVNARVINAS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 229,900 shares; 2025Q2: 850,000 shares; 2025Q3: 226,257 shares; 2025Q4: 358,257 shares 358,257$4.25M0.55%+132,000Timeline
ZURAZURA BIO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 2,132,322 shares; 2025Q4: 802,322 shares 802,322$4.2M0.54%-1,330,000Timeline
KPTIKARYOPHARM THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 27,257 shares; 2025Q2: 27,257 shares; 2025Q3: 27,257 shares; 2025Q4: 544,554 shares 544,554$4.01M0.52%+517,297Timeline
KRYSKRYSTAL BIOTECH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 24,421 shares; 2025Q4: 14,814 shares 14,814$3.65M0.47%-9,607Timeline
TGTXTG THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 291,240 shares; 2025Q1: 210,065 shares; 2025Q2: 209,938 shares; 2025Q3: 174,959 shares; 2025Q4: 117,903 shares 117,903$3.51M0.45%-57,056Timeline
VIRVIR BIOTECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 897,862 shares; 2025Q1: 1,068,062 shares; 2025Q2: 1,068,062 shares; 2025Q3: 593,374 shares; 2025Q4: 575,712 shares 575,712$3.47M0.45%-17,662Timeline
NXTCNEXTCURE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 238,303 shares 238,303$3.38M0.44%newTimeline
ALECALECTOR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 950,000 shares; 2025Q1: 950,000 shares; 2025Q2: 900,000 shares; 2025Q3: 760,000 shares; 2025Q4: 2,082,606 shares 2,082,606$3.25M0.42%+1,322,606Timeline
CTNMCONTINEUM THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 282,874 shares 282,874$3.23M0.42%newTimeline
SLNOSOLENO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 221,437 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 55,946 shares; 2025Q4: 68,823 shares 68,823$3.19M0.41%+12,877Timeline
AGIOAGIOS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 126,979 shares; 2025Q4: 115,489 shares 115,489$3.14M0.41%-11,490Timeline
FRNMPERCEPTIVE CAP SOLUTIONS CORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 240,951 shares 240,951$3.14M0.41%newTimeline
QNRXQUOIN PHARMACEUTICALS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 211,538 shares 211,538$3.05M0.4%new2026-09-30, 13G/A: 211,538 shares, 4.4% of the class, 13G/A filed 2026-10-07 Timeline
KLRSKALARIS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 360,000 shares 360,000$3.04M0.39%newTimeline
PRQRPROQR THRAPEUTICS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 483,583 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 868,069 shares; 2025Q3: 892,229 shares; 2025Q4: 1,492,229 shares 1,492,229$3.01M0.39%+600,000Timeline
PEPGPEPGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 150,000 shares; 2025Q2: 150,000 shares; 2025Q3: 535,967 shares; 2025Q4: 447,165 shares 447,165$2.91M0.38%-88,802Timeline
CMPSCOMPASS PATHWAYS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 202,908 shares; 2024Q4: 202,894 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 400,000 shares 400,000$2.76M0.36%newTimeline
BBOTBRIDGEBIO ONCOLOGY THERAPEUTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 245,231 shares; 2025Q4: 220,231 shares 220,231$2.76M0.36%-25,000Timeline
ERASERASCA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 735,396 shares 735,396$2.74M0.35%newTimeline
TARSTARSUS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,030,277 shares; 2024Q4: 607,689 shares; 2025Q1: 485,021 shares; 2025Q2: 196,536 shares; 2025Q3: 73,619 shares; 2025Q4: 31,166 shares 31,166$2.55M0.33%-42,453Timeline
GUTSFRACTYL HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,800,000 shares; 2025Q4: 1,100,000 shares 1,100,000$2.42M0.31%-700,000Timeline
BHVNBIOHAVEN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 212,481 shares 212,481$2.4M0.31%newTimeline
IVAINVENTIVA SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 502,601 shares 502,601$2.33M0.3%newTimeline
NMRANEUMORA THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 15,457 shares; 2025Q2: 12,498 shares; 2025Q3: 12,498 shares; 2025Q4: 1,278,408 shares 1,278,408$2.29M0.3%+1,265,910Timeline
CPIXCUMBERLAND PHARMACEUTICALS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 740,000 shares; 2025Q2: 595,932 shares; 2025Q3: 555,932 shares; 2025Q4: 555,932 shares 555,932$2.21M0.29%0Timeline
QUREUNIQURE NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 119,986 shares; 2025Q3: 58,610 shares; 2025Q4: 91,060 shares 91,060$2.18M0.28%+32,450Timeline
DBVTDBV TECHNOLOGIES S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 525,000 shares 525,000$2.08M0.27%newTimeline
CABACABALETTA BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 900,000 shares 900,000$1.97M0.26%newTimeline
DERMJOURNEY MED CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 251,436 shares 251,436$1.94M0.25%newTimeline
IBIOIBIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 600,000 shares; 2024Q4: 599,913 shares; 2025Q1: 599,913 shares; 2025Q2: 599,913 shares; 2025Q3: 617,327 shares; 2025Q4: 957,062 shares 957,062$1.85M0.24%+339,735Timeline
APLSAPELLIS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 3,594 shares; 2025Q1: 75,000 shares; 2025Q2: 75,000 shares; 2025Q3: 451,902 shares; 2025Q4: 71,747 shares 71,747$1.8M0.23%-380,155Timeline
SLNSILENCE THERAPEUTICS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 587,343 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 873,568 shares; 2025Q3: 900,784 shares; 2025Q4: 865,784 shares 865,784$1.73M0.22%-35,000Timeline
VSTMVERASTEM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 213,865 shares 213,865$1.65M0.21%newTimeline
INSMINSMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 154,835 shares; 2024Q4: 119,800 shares; 2025Q1: 84,800 shares; 2025Q2: 163,751 shares; 2025Q3: 13,751 shares; 2025Q4: 9,337 shares 9,337$1.63M0.21%-4,414Timeline
NAMSNEWAMSTERDAM PHARMA COMPANYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 206,800 shares; 2025Q3: 106,800 shares; 2025Q4: 45,830 shares 45,830$1.61M0.21%-60,970Timeline
LPCNLIPOCINE INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 199,542 shares 199,542$1.6M0.21%newTimeline
SRZNSURROZEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 65,788 shares 65,788$1.49M0.19%newTimeline
WVEWAVE LIFE SCIENCES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 544,265 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 161,137 shares; 2025Q3: 95,955 shares; 2025Q4: 85,285 shares 85,285$1.45M0.19%-10,670Timeline
CPRXCATALYST PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 417,850 shares; 2024Q4: 349,649 shares; 2025Q1: 249,649 shares; 2025Q2: 209,649 shares; 2025Q3: 116,388 shares; 2025Q4: 57,388 shares 57,388$1.34M0.17%-59,000Timeline
LYELLYELL IMMUNOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 43,799 shares; 2025Q3: 43,799 shares; 2025Q4: 41,081 shares 41,081$1.26M0.16%-2,718Timeline
ANNXANNEXON INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 230,244 shares 230,244$1.16M0.15%newTimeline
HELPCYBIN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 367,195 shares; 2024Q4: 397,175 shares; 2025Q1: 397,175 shares; 2025Q2: 140,475 shares; 2025Q3: 140,475 shares; 2025Q4: 132,153 shares 132,153$1.08M0.14%-8,322Timeline
STIMNEURONETICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,100,000 shares; 2025Q2: 1,099,700 shares; 2025Q3: 905,716 shares; 2025Q4: 701,182 shares 701,182$968K0.13%-204,534Timeline
SLDBSOLID BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 230,000 shares; 2025Q2: not reported; 2025Q3: 176,690 shares; 2025Q4: 160,409 shares 160,409$905K0.12%-16,281Timeline
LABDDIREXION SHARES ETF TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 91,959 shares; 2025Q4: 40,822 shares 40,822$860K0.11%-51,137Timeline
IOBTQIO BIOTECH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,525,893 shares; 2025Q4: 1,386,565 shares 1,386,565$844K0.11%-139,328Timeline
MIND MEDICINE MINDMED INCMIND MEDICINE MINDMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 62,481 shares; 2024Q4: 62,691 shares; 2025Q1: 62,691 shares; 2025Q2: 62,691 shares; 2025Q3: 62,691 shares; 2025Q4: 58,803 shares 58,803$787K0.1%-3,888
TRAWTRAWS PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 98,493 shares; 2025Q1: 28,493 shares; 2025Q2: 28,493 shares; 2025Q3: 28,493 shares; 2025Q4: 678,142 shares 678,142$766K0.1%+649,649Timeline
PALIPALISADE BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 274,978 shares 274,978$646K0.08%newTimeline
KZRKEZAR LIFE SCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 106,901 shares; 2025Q1: 106,901 shares; 2025Q2: 106,901 shares; 2025Q3: 106,901 shares; 2025Q4: 102,211 shares 102,211$643K0.08%-4,690Timeline
KALVKALVISTA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 198,528 shares; 2025Q3: not reported; 2025Q4: 35,119 shares 35,119$567K0.07%newTimeline
AVTXAVALO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 970,359 shares; 2024Q4: 970,259 shares; 2025Q1: 200,000 shares; 2025Q2: 35,300 shares; 2025Q3: 159,777 shares; 2025Q4: 31,106 shares 31,106$565K0.07%-128,671Timeline
ABOSACUMEN PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 266,435 shares; 2024Q4: 265,769 shares; 2025Q1: 265,769 shares; 2025Q2: 265,769 shares; 2025Q3: 265,769 shares; 2025Q4: 254,312 shares 254,312$537K0.07%-11,457Timeline
SGMOQSANGAMO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,860,179 shares; 2025Q1: 1,860,179 shares; 2025Q2: 1,260,179 shares; 2025Q3: 1,294,652 shares; 2025Q4: 1,218,671 shares 1,218,671$512K0.07%-75,981Timeline
IMTXIMMATICS N.VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 49,415 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 49,396 shares; 2025Q3: 49,396 shares; 2025Q4: 48,569 shares 48,569$510K0.07%-827Timeline
EQEQUILLIUM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 332,297 shares; 2025Q4: 303,555 shares 303,555$471K0.06%-28,742Timeline
OVIDOVID THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,095,574 shares; 2025Q4: 247,558 shares 247,558$404K0.05%-848,016Timeline
IMUXIMMUNIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 493,496 shares; 2024Q4: 1,614,170 shares; 2025Q1: 914,170 shares; 2025Q2: 914,170 shares; 2025Q3: 914,170 shares; 2025Q4: 674,662 shares 674,662$360K0.05%-239,508Timeline
EVAXEVAXION ASQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 80,000 shares; 2025Q2: 80,000 shares; 2025Q3: 80,000 shares; 2025Q4: 74,698 shares 74,698$356K0.05%-5,302Timeline
VTGNVISTAGEN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 77,616 shares; 2025Q1: 601,703 shares; 2025Q2: 601,703 shares; 2025Q3: 620,869 shares; 2025Q4: 519,077 shares 519,077$344K0.04%-101,792Timeline
VKTXVIKING THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 50,000 shares; 2025Q2: 100,000 shares; 2025Q3: 10,000 shares; 2025Q4: 9,717 shares 9,717$342K0.04%-283Timeline
GPCRSTRUCTURE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 115,200 shares; 2024Q4: 284,085 shares; 2025Q1: 264,085 shares; 2025Q2: 183,085 shares; 2025Q3: 163,237 shares; 2025Q4: 4,824 shares 4,824$336K0.04%-158,413Timeline
RAREULTRAGENYX PHARMACEUTICAL INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 179,000 shares; 2024Q4: 178,989 shares; 2025Q1: 216,989 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 12,671 shares 12,671$291K0.04%newTimeline
VERUVERU INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 142,523 shares; 2025Q4: 133,517 shares 133,517$286K0.04%-9,006Timeline
CNSPCNS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 45,830 shares 45,830$241K0.03%newTimeline
FTHFAETH THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 22,497 shares; 2025Q3: 22,497 shares; 2025Q4: 21,351 shares 21,351$228K0.03%-1,146Timeline
NYXHNYXOAH S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,699 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 50,627 shares; 2025Q3: 50,627 shares; 2025Q4: 47,358 shares 47,358$218K0.03%-3,269Timeline
VYGRVOYAGER THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 55,857 shares; 2024Q4: 55,766 shares; 2025Q1: 55,766 shares; 2025Q2: 55,766 shares; 2025Q3: 55,766 shares; 2025Q4: 53,063 shares 53,063$209K0.03%-2,703Timeline
LXRXLEXICON PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,550,000 shares; 2025Q1: 1,417,952 shares; 2025Q2: 176,479 shares; 2025Q3: 176,479 shares; 2025Q4: 164,674 shares 164,674$189K0.02%-11,805Timeline
NEUPNEUPHORIA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 47,443 shares 47,443$184K0.02%newTimeline
GCTKGLUCOTRACK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 45,830 shares 45,830$177K0.02%newTimeline
VYNEVYNE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 290,000 shares; 2025Q3: 290,000 shares; 2025Q4: 264,912 shares 264,912$154K0.02%-25,088Timeline
RNACCARTESIAN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 52,193 shares; 2024Q4: 52,166 shares; 2025Q1: 22,166 shares; 2025Q2: 22,166 shares; 2025Q3: 22,166 shares; 2025Q4: 20,807 shares 20,807$150K0.02%-1,359Timeline
SHPHSHUTTLE PHARMACTCLS HLDGS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 68,993 shares 68,993$124K0.02%newTimeline
MGNXMACROGENICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 80,079 shares; 2024Q4: 80,071 shares; 2025Q1: 80,071 shares; 2025Q2: 80,071 shares; 2025Q3: 80,071 shares; 2025Q4: 74,893 shares 74,893$121K0.02%-5,178Timeline
PMVPPMV PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 97,500 shares; 2025Q4: 89,136 shares 89,136$111K0.01%-8,364Timeline
PURRHYPERLIQUID STRATEGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 30,001 shares 30,001$107K0.01%newTimeline
MGRXMANGOCEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 138,146 shares 138,146$102K0.01%newTimeline
CMMBCHEMOMAB THERAPEUTICS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 53,262 shares; 2025Q4: 51,793 shares 51,793$85.5K0.01%-1,469Timeline
LYRALYRA THERAPEUTICS INC COM NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 21,161 shares; 2025Q3: 21,161 shares; 2025Q4: 21,161 shares 21,161$65.2K0.01%0Timeline
JSPRJASPER THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 55,175 shares; 2024Q4: 55,107 shares; 2025Q1: 25,107 shares; 2025Q2: 25,107 shares; 2025Q3: 25,107 shares; 2025Q4: 24,093 shares 24,093$44.1K0.01%-1,014Timeline
AEMDAETHLON MED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 14,364 shares 14,364$39.8K0.01%newTimeline
RZLTREZOLUTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 887,230 shares; 2024Q4: 857,230 shares; 2025Q1: 50,058 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 16,479 shares 16,479$38.9K0.01%newTimeline
PHGEBIOMX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 19,473 shares 19,473$36.4K<0.01%newTimeline
AIRSAIRSCULPT TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 17,951 shares; 2025Q3: 17,951 shares; 2025Q4: 16,398 shares 16,398$32.5K<0.01%-1,553Timeline
TOVXTHERIVA BIOLOGICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 120,031 shares; 2025Q2: 120,031 shares; 2025Q3: 120,031 shares; 2025Q4: 112,076 shares 112,076$23.6K<0.01%-7,955Timeline
SYBXSYNLOGIC INC COM NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,448 shares; 2024Q4: 20,422 shares; 2025Q1: 20,422 shares; 2025Q2: 20,422 shares; 2025Q3: 20,422 shares; 2025Q4: 19,966 shares 19,966$22.4K<0.01%-456Timeline
ANEBANEBULO PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 157,862 shares; 2024Q4: 157,720 shares; 2025Q1: 157,720 shares; 2025Q2: 157,720 shares; 2025Q3: 157,720 shares; 2025Q4: 17,736 shares 17,736$17.9K<0.01%-139,984Timeline
AMIXAUTONOMIX MED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 20,000 shares; 2025Q1: 20,000 shares; 2025Q2: 20,000 shares; 2025Q3: 20,000 shares; 2025Q4: 18,688 shares 18,688$10.3K<0.01%-1,312Timeline

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
XBISPDR SERIES TRUST S&P BIOTECHput850,000$104M+100,000
CDTXCIDARA THERAPEUTICS INC COM NEWput300,000$66.3Mnew
AMGNAMGEN INC COMput200,000$65.5Mnew
JAZZ PHARMACEUTICALS PLCJAZZ PHARMACEUTICALS PLC SHS USDcall170,000$28.9M+99,300
HROWHARROW INC COMcall509,700$25M+220,000
SLNOSOLENO THERAPEUTICS INC COMcall528,900$24.5M+352,800
CYTKCYTOKINETICS INC COM NEWcall290,900$18.5M+180,000
CRNXCRINETICS PHARMACEUTICALS IN Stockput368,500$17.2Mnew
ABVXABIVAX SA SPONSORED ADScall125,100$16.9Mnew
OMEROMEROS CORP COMput950,000$16.3Mnew
RAPTRAPT THERAPEUTICS INC COM NEWcall290,000$9.82M+115,000
OMEROMEROS CORP COMcall550,000$9.45Mnew
DXCMDEXCOM INC Stockcall137,500$9.13Mnew
CORTCORCEPT THERAPEUTICS INC COMput236,700$8.24Mnew
APLSAPELLIS PHARMACEUTICALS INC COMcall325,600$8.18M-32,400
RVMDREVOLUTION MEDICINES INC Stockcall95,000$7.57M0
IONSIONIS PHARMACEUTICALS INC Stockcall94,600$7.48M+81,300
NBIXNEUROCRINE BIOSCIENCES INC COMcall51,000$7.23Mnew
ANIPANI PHARMACEUTICALS INC COMcall82,800$6.54Mnew
RAREULTRAGENYX PHARMACEUTICAL IN COMput255,100$5.87M+162,500
RAREULTRAGENYX PHARMACEUTICAL IN COMcall250,000$5.75Mnew
CORTCORCEPT THERAPEUTICS INC COMcall163,800$5.7Mnew
OLMAOLEMA PHARMACEUTICALS INC COMcall200,000$5Mnew
AGIOAGIOS PHARMACEUTICALS INC COMcall137,200$3.73M-12,800
AQSTAQUESTIVE THERAPEUTICS INC Stockput500,000$3.23Mnew
UNIQURE NVUNIQURE NV CALLcall105,400$2.52M-430,200
SLDBSOLID BIOSCIENCES INC COMMON STOCKcall424,000$2.39M-44,000
ALMSALUMIS INC COMput211,100$2.06Mnew
PEPGPEPGEN INC Stockcall300,000$1.95Mnew
ZBIOZENAS BIOPHARMA INC Stockput46,800$1.7Mnew
ZBIOZENAS BIOPHARMA INC Stockcall46,800$1.7Mnew
GOSSGOSSAMER BIO INC Stockput500,000$1.55Mnew
GOSSGOSSAMER BIO INC Stockcall500,000$1.55Mnew
NKTRNEKTAR THERAPEUTICS COMMON STOCKput36,300$1.53Mnew
NKTRNEKTAR THERAPEUTICS COMMON STOCKcall36,300$1.53Mnew
INSMINSMED INC Stockcall8,600$1.5M-91,400
TVTXTRAVERE THERAPEUTICS INC COMcall36,600$1.4M-177,900
AVTXAVALO THERAPEUTICS INC COMMON STOCKcall58,100$1.06Mnew
CNTBCONNECT BIOPHARMA HLDGS LTD SHScall144,600$408Knew

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
UTHRUNITED THERAPEUTICS CORP DEL209,800$88Mput
GMABGENMAB A/S175,000$53Mshares
BMYBRISTOL-MYERS SQUIBB CO800,000$36.1Mput
SRRKSCHOLAR ROCK HLDG CORP561,600$20.9Mcall
INSMINSMED INC100,000$14.4Mput
DNTHDIANTHUS THERAPEUTICS INC346,001$13.6Mshares
PTCTPTC THERAPEUTICS INC213,000$13.1Mcall
BIOHAVEN LTDBIOHAVEN LTD796,400$12Mcall
CRNXCRINETICS PHARMACEUTICALS IN257,700$10.7Mcall
AKROAKERO THERAPEUTICS INC206,854$9.82Mshares
NVONOVO-NORDISK A S150,000$8.32Mcall
CNTACENTESSA PHARMACEUTICALS PLC307,700$7.46Mcall
SPRYARS PHARMACEUTICALS INC562,400$5.65Mcall
CRNXCRINETICS PHARMACEUTICALS IN130,902$5.45Mshares
PRAXPRAXIS PRECISION MEDICINES I100,000$5.3Mcall
VRDNVIRIDIAN THERAPEUTICS INC245,518$5.3Mshares
SNDXSYNDAX PHARMACEUTICALS INC333,733$5.13Mshares
ANABANAPTYSBIO INC161,100$4.93Mput
ANABANAPTYSBIO INC161,100$4.93Mcall
KALVKALVISTA PHARMACEUTICALS INC400,000$4.87Mcall
TVTXTRAVERE THERAPEUTICS INC190,781$4.56Mshares
LQDALIQUIDIA CORPORATION200,000$4.55Mcall
MTSRMETSERA INC86,000$4.5Mput
MTSRMETSERA INC86,000$4.5Mcall
MLTXMOONLAKE IMMUNOTHERAPEUTICS612,200$4.39Mcall
ARGXARGENX SE5,942$4.3Mshares
ARCTARCTURUS THERAPEUTICS HLDGS227,200$4.19Mcall
PVLAPALVELLA THERAPEUTICS INC NE64,746$4.06Mshares
TEVATEVA PHARMACEUTICAL INDS LTD200,000$4.04Mcall
ALTALTIMMUNE INC1,000,000$3.77Mcall
SRRKSCHOLAR ROCK HLDG CORP96,200$3.58Mput
MBXMBX BIOSCIENCES INC200,000$3.5Mput
MBXMBX BIOSCIENCES INC200,000$3.5Mcall
SLNOSOLENO THERAPEUTICS INC50,000$3.38Mput
MLTXMOONLAKE IMMUNOTHERAPEUTICS450,000$3.23Mput
MLTXMOONLAKE IMMUNOTHERAPEUTICS435,839$3.12Mshares
UPBUPSTREAM BIO INC161,113$3.03Mshares
BBIOBRIDGEBIO PHARMA INC51,967$2.7Mshares
SRPTSAREPTA THERAPEUTICS INC137,000$2.64Mcall
RLAYRELAY THERAPEUTICS INC467,362$2.44Mshares
CMPSCOMPASS PATHWAYS PLC400,000$2.29Mcall
AKROAKERO THERAPEUTICS INC41,600$1.98Mcall
LRMRLARIMAR THERAPEUTICS INC548,400$1.77Mcall
ANABANAPTYSBIO INC48,410$1.48Mshares
DYNDYNE THERAPEUTICS INC113,837$1.44Mshares
PRMEPRIME MEDICINE INC250,000$1.39Mput
PRMEPRIME MEDICINE INC250,000$1.39Mcall
JANXJANUX THERAPEUTICS INC54,691$1.34Mshares
ZYMEZYMEWORKS INC72,787$1.24Mshares
IFRXINFLARX NV722,066$968Kshares
UTHRUNITED THERAPEUTICS CORP DEL2,300$964Kcall
MBXMBX BIOSCIENCES INC48,071$841Kshares
PRMEPRIME MEDICINE INC150,000$831Kshares
TVRDTVARDI THERAPEUTICS INC19,000$740Kcall
CAPRCAPRICOR THERAPEUTICS INC100,000$721Kput
CAPRCAPRICOR THERAPEUTICS INC100,000$721Kcall
CRBPCORBUS PHARMACEUTICALS HLDGS54,800$693Kcall
SONNET BIOTHERAPEUTC HLDNG ISONNET BIOTHERAPEUTC HLDNG I150,000$687Kshares
PCVXVAXCYTE INC7,000$252Kcall
BIOMX INCBIOMX INC392,976$206Kshares
ARCTARCTURUS THERAPEUTICS HLDGS10,721$198Kshares
COGTCOGENT BIOSCIENCES INC11,280$162Kshares
AETHLON MED INCAETHLON MED INC153,659$115Kshares

How Q4 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 0001420506-26-000592 base2026-02-18acceptance time not in the bulk data set