Skip to content
Disclosery

Lion Point Capital, LP

Follow

13F filer, CIK 1643354, NEW YORK, NY

Lion Point Capital, LP reported $14,728,584 across 19 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 74.34% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001013594-25-001032

Period
2025-06-30
Reported value
$14.7M
Holdings
19
Top 10 weight
74.34%
New
1
Sold out
3

Largest buys vs the previous quarter

SecurityShares changeApprox. value
MCRBnew+17,038$189K

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
INSMreduced-19,850-$2M
BLUEBIRD BIO INC COM NEWexited-78,912-$385K
SERES THERAPEUTICS INCexited-340,761-$239K
SPRUCE BIOSCIENCES INCexited-75,000-$21.8K

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 0001013594-25-001032, largest first. % of portfolio is the value over $14,728,584, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
FENCFENNEC PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 215,000 shares; 2024Q4: 195,700 shares; 2025Q1: 195,700 shares; 2025Q2: 195,700 shares 195,700$1.62M11.03%0Timeline
ARDXARDELYX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 370,000 shares; 2024Q4: 335,400 shares; 2025Q1: 335,400 shares; 2025Q2: 335,400 shares 335,400$1.31M8.93%0Timeline
KNSAKINIKSA PHARMACEUTICALS INTLQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 61,400 shares; 2024Q4: 45,900 shares; 2025Q1: 45,900 shares; 2025Q2: 45,900 shares 45,900$1.27M8.62%0Timeline
BBIOBRIDGEBIO PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 49,000 shares; 2024Q4: 40,300 shares; 2025Q1: 26,000 shares; 2025Q2: 26,000 shares 26,000$1.12M7.62%0Timeline
INSMINSMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 52,200 shares; 2024Q4: 36,700 shares; 2025Q1: 30,500 shares; 2025Q2: 10,650 shares 10,650$1.07M7.28%-19,850Timeline
MLYSMINERALYS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 79,000 shares; 2024Q4: 79,000 shares; 2025Q1: 79,000 shares; 2025Q2: 79,000 shares 79,000$1.07M7.26%0Timeline
MISTMILESTONE PHARMACEUTICALS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,654,154 shares; 2024Q4: 1,025,806 shares; 2025Q1: 548,806 shares; 2025Q2: 548,806 shares 548,806$1.06M7.23%0Timeline
AVADEL PHARMACEUTICALSAVADEL PHARMACEUTICALSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 64,000 shares; 2024Q4: 64,000 shares; 2025Q1: 98,700 shares; 2025Q2: 98,700 shares 98,700$873K5.93%0
JSPRJASPER THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 32,000 shares; 2024Q4: 32,000 shares; 2025Q1: 146,500 shares; 2025Q2: 146,500 shares 146,500$813K5.52%0Timeline
BNTCBENITEC BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 39,000 shares; 2024Q4: 62,000 shares; 2025Q1: 62,000 shares; 2025Q2: 62,000 shares 62,000$725K4.93%0Timeline
GERNGERON CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 630,000 shares; 2024Q4: 500,000 shares; 2025Q1: 500,000 shares; 2025Q2: 500,000 shares 500,000$705K4.79%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: 35,100 shares; 2024Q4: 46,300 shares; 2025Q1: 46,300 shares; 2025Q2: 46,300 shares 46,300$649K4.41%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: 7,700 shares; 2024Q4: 10,600 shares; 2025Q1: 10,600 shares; 2025Q2: 10,600 shares 10,600$561K3.81%0Timeline
SNDXSYNDAX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 46,200 shares; 2024Q4: 55,000 shares; 2025Q1: 55,000 shares; 2025Q2: 55,000 shares 55,000$515K3.5%0Timeline
RGNXREGENXBIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 57,750 shares; 2024Q4: 57,750 shares; 2025Q1: 57,750 shares; 2025Q2: 57,750 shares 57,750$474K3.22%0Timeline
BHVNBIOHAVEN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 35,400 shares; 2024Q4: 22,700 shares; 2025Q1: 22,700 shares; 2025Q2: 22,700 shares 22,700$320K2.17%0Timeline
Mersana Therapeutics IncMersana 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: 644,000 shares; 2025Q2: 644,000 shares 644,000$191K1.29%0
MCRBSERES 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: 17,038 shares 17,038$189K1.29%newTimeline
HUMAHUMACYTE 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: 83,500 shares; 2025Q2: 83,500 shares 83,500$175K1.18%0Timeline

Sold out in Q2 2025

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

SecurityShares beforeValue beforeType
BLUEBIRD BIO INC COM NEWBLUEBIRD BIO INC COM NEW78,912$385Kshares
SERES THERAPEUTICS INCSERES THERAPEUTICS INC340,761$239Kshares
SPRUCE BIOSCIENCES INCSPRUCE BIOSCIENCES INC75,000$21.8Kshares

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 0001013594-25-001032 base2025-08-14acceptance time not in the bulk data set