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Opaleye Management Inc.

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13F filer, CIK 1595855, BOSTON, MA

Opaleye Management Inc. reported $494,141,450 across 41 holdings for the quarter ended 2025-06-30, in a 13F-HR/A filed 2025-08-15. Its ten largest share positions make up 73.47% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR/A 0001641172-25-024301

Period
2025-06-30
Reported value
$494M
Holdings
41
Top 10 weight
73.47%
New
5
Sold out
9

Largest buys vs the previous quarter

SecurityShares changeApprox. value
SRPTnew+500,000$8.55M
VIGIL NEUROSCIENCE INCnew+1,000,000$7.95M
CDXSadded+3,100,000$7.56M
LRMRadded+2,195,923$6.35M
IRONadded+101,418$5.37M

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
DNAreduced-695,000-$7.82M
PVLAexited-172,357-$4.82M
ANABexited-250,933-$4.66M
ACELYRIN INCexited-1,615,000-$3.99M
TARAreduced-875,000-$2.65M

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/A 0001641172-25-024301, largest first. % of portfolio is the value over $494,141,450, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
HROWHARROW INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,990,000 shares; 2024Q4: 3,990,000 shares; 2025Q1: 3,955,000 shares; 2025Q2: 3,905,000 shares 3,905,000$119M24.13%-50,000Timeline
ETONETON PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,780,000 shares; 2024Q4: 2,852,070 shares; 2025Q1: 2,852,070 shares; 2025Q2: 2,860,000 shares 2,860,000$40.8M8.25%+7,930Timeline
IMNMIMMUNOME INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,237,500 shares; 2024Q4: 2,040,000 shares; 2025Q1: 3,550,000 shares; 2025Q2: 3,529,581 shares 3,529,581$32.8M6.64%-20,419Timeline
SNWVSANUWAVE HEALTH 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: 972,002 shares; 2025Q2: 980,000 shares 980,000$32.2M6.52%+7,998Timeline
LQDALIQUIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,698,142 shares; 2024Q4: 1,698,142 shares; 2025Q1: 2,260,000 shares; 2025Q2: 2,475,000 shares 2,475,000$30.8M6.24%+215,000Timeline
CDXSCODEXIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,770,000 shares; 2024Q4: 8,840,000 shares; 2025Q1: 9,500,000 shares; 2025Q2: 12,600,000 shares 12,600,000$30.7M6.22%+3,100,000Timeline
RYTMRHYTHM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 500,000 shares; 2024Q4: 500,000 shares; 2025Q1: 490,000 shares; 2025Q2: 475,000 shares 475,000$30M6.07%-15,000Timeline
TGTXTG THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,280,000 shares; 2024Q4: 2,260,000 shares; 2025Q1: 535,000 shares; 2025Q2: 535,000 shares 535,000$19.3M3.9%0Timeline
OCULOCULAR THERAPEUTIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,025,000 shares; 2024Q4: 4,342,500 shares; 2025Q1: 1,595,000 shares; 2025Q2: 1,595,000 shares 1,595,000$14.8M3%0Timeline
ARVNARVINAS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,255,000 shares; 2024Q4: 1,625,000 shares; 2025Q1: 1,975,000 shares; 2025Q2: 1,680,000 shares 1,680,000$12.4M2.5%-295,000Timeline
LRMRLARIMAR 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: 1,914,077 shares; 2025Q2: 4,110,000 shares 4,110,000$11.9M2.4%+2,195,923Timeline
IRONDISC MEDICINE 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: 85,000 shares; 2025Q2: 186,418 shares 186,418$9.87M2%+101,418Timeline
SRPTSAREPTA 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: 500,000 shares 500,000$8.55M1.73%newTimeline
VIGIL NEUROSCIENCE INCVIGIL NEUROSCIENCE 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: 1,000,000 shares 1,000,000$7.95M1.61%new
CGONCG ONCOLOGY 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: 163,988 shares; 2025Q2: 266,000 shares 266,000$6.92M1.4%+102,012Timeline
XOMAXOMA ROYALTY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 250,000 shares; 2024Q4: 250,000 shares; 2025Q1: 253,043 shares; 2025Q2: 255,087 shares 255,087$6.43M1.3%+2,044Timeline
EWTXEDGEWISE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 522,500 shares; 2024Q4: 480,000 shares; 2025Q1: 395,000 shares; 2025Q2: 490,000 shares 490,000$6.42M1.3%+95,000Timeline
STOKSTOKE 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: 25,000 shares; 2025Q1: 300,000 shares; 2025Q2: 562,120 shares 562,120$6.38M1.29%+262,120Timeline
ANIKANIKA 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: 395,000 shares; 2025Q2: 588,797 shares 588,797$6.23M1.26%+193,797Timeline
PTGXPROTAGONIST THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 105,000 shares; 2024Q4: 105,000 shares; 2025Q1: 105,000 shares; 2025Q2: 105,000 shares 105,000$5.8M1.17%0Timeline
DNAGINKGO BIOWORKS HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 820,202 shares; 2024Q4: 1,200,000 shares; 2025Q1: 1,195,000 shares; 2025Q2: 500,000 shares 500,000$5.62M1.14%-695,000Timeline
GOSSGOSSAMER BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,665,010 shares; 2024Q4: 4,490,000 shares; 2025Q1: 4,287,415 shares; 2025Q2: 3,545,000 shares 3,545,000$4.36M0.88%-742,415Timeline
RZLTREZOLUTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 466,563 shares; 2024Q4: 465,000 shares; 2025Q1: 465,000 shares; 2025Q2: 903,442 shares 903,442$4.03M0.82%+438,442Timeline
RVMDREVOLUTION MEDICINES 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: 105,000 shares 105,000$3.86M0.78%newTimeline
ESSA PHARMA INCESSA PHARMA 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: 2,209,998 shares; 2025Q1: 2,209,998 shares; 2025Q2: 2,209,998 shares 2,209,998$3.76M0.76%0
CARGO THERAPEUTICS INC COMCARGO THERAPEUTICS INC COMQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 541,437 shares; 2024Q4: 750,000 shares; 2025Q1: 666,503 shares; 2025Q2: 666,503 shares 666,503$2.75M0.56%0
MBXMBX 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: 250,000 shares; 2025Q2: 239,319 shares 239,319$2.73M0.55%-10,681Timeline
ZYMEZYMEWORKS 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: 175,000 shares; 2025Q2: 210,000 shares 210,000$2.64M0.53%+35,000Timeline
TARAPROTARA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,681,154 shares; 2024Q4: 1,825,000 shares; 2025Q1: 1,730,000 shares; 2025Q2: 855,000 shares 855,000$2.59M0.52%-875,000Timeline
ALMSALUMIS 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: 775,000 shares 775,000$2.33M0.47%newTimeline
ZNTLZENTALIS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 967,000 shares; 2024Q4: 1,767,500 shares; 2025Q1: 1,985,000 shares; 2025Q2: 1,924,300 shares 1,924,300$2.23M0.45%-60,700Timeline
TRVITREVI THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,567,990 shares; 2024Q4: 2,317,500 shares; 2025Q1: 795,000 shares; 2025Q2: 390,000 shares 390,000$2.13M0.43%-405,000Timeline
RCELAVITA MEDICAL 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: 440,000 shares; 2025Q2: 389,519 shares 389,519$2.06M0.42%-50,481Timeline
IRDOPUS GENETICS 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: 1,175,000 shares; 2025Q2: 1,220,000 shares 1,220,000$1.15M0.23%+45,000Timeline
DERMJOURNEY MED CORPQuarterly 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: 69,323 shares; 2025Q2: 95,000 shares 95,000$682K0.14%+25,677Timeline
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: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,442,061 shares 1,442,061$529K0.11%new
IBIOIBIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 375,000 shares; 2024Q4: 375,000 shares; 2025Q1: 375,000 shares; 2025Q2: 375,000 shares 375,000$285K0.06%0Timeline
PEPGPEPGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 179,200 shares; 2024Q4: 110,000 shares; 2025Q1: 420,000 shares; 2025Q2: 240,000 shares 240,000$266K0.05%-180,000Timeline
ADGMADAGIO MED HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 110,571 shares; 2024Q4: 110,571 shares; 2025Q1: 110,571 shares; 2025Q2: 110,571 shares 110,571$144K0.03%0Timeline

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
GOSSAMER BIO INCGOSSAMER BIO INC NOTE 5.000% 6/0principal11,500,000$5.95M0
KARYOPHARM THERAPEUTICS INCKARYOPHARM THERAPEUTICS INC BONDprincipal6,000,000$4.56M0

Sold out in Q2 2025

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

SecurityShares beforeValue beforeType
PVLAPALVELLA THERAPEUTICS INC NE172,357$4.82Mshares
ANABANAPTYSBIO INC250,933$4.66Mshares
ACELYRIN INCACELYRIN INC1,615,000$3.99Mshares
BIODESIX INCBIODESIX INC3,225,000$2.02Mshares
OPTINOSE INCOPTINOSE INC193,039$1.77Mshares
KNSAKINIKSA PHARMACEUTICALS INTL62,501$1.39Mshares
NRIXNURIX THERAPEUTICS INC115,000$1.37Mshares
SGMOSANGAMO THERAPEUTICS INC1,055,000$692Kshares
VTYXVENTYX BIOSCIENCES INC190,000$218Kshares

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 0001641172-25-023977 superseded2025-08-14acceptance time not in the bulk data set
13F-HR/A 0001641172-25-024301 baserestatement2025-08-15acceptance time not in the bulk data set