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Paradigm Biocapital Advisors LP

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13F filer, CIK 1855655, NEW YORK, NY

Paradigm Biocapital Advisors LP reported $3,516,196,926 across 36 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 67.99% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001855655-25-000014

Period
2025-09-30
Reported value
$3.52B
Holdings
36
Top 10 weight
67.99%
New
13
Sold out
5

Part of the filer group Paradigm Biocapital Advisors LP

  • Paradigm BioCapital Advisors GP LLC
  • Paradigm BioCapital International Fund Ltd.
  • Senai Asefaw, M.D.
How groups are built

Stakes and trades reported after 2025-09-30

13D, 13G and Form 4 filings by this filer's group, dated after the 13F period, on securities the quarter does not hold as shares.

  • OBX OBSIDIAN THERAPEUTICS INC: 13G 4,101,576 shares, 6.6% of the class, 13G filed 2026-10-05, 0001104659-26-113688Timeline
    Accepted , ingested

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ABVXnew+1,564,196$133M
GMABnew+3,816,851$117M
CDTXnew+961,164$92M
URGNnew+4,216,084$84.1M
AGIOadded+1,531,044$61.5M

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
COGTreduced-7,196,051-$103M
ONCexited-347,787-$84.2M
IRONreduced-963,255-$63.7M
MLTXexited-878,323-$41.5M
LENZreduced-643,605-$30M

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, Q3 2025

Share positions as resolved from 13F-HR 0001855655-25-000014, largest first. % of portfolio is the value over $3,379,723,926, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
NUVLNUVALENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,000,000 shares; 2024Q4: 5,363,379 shares; 2025Q1: 5,269,433 shares; 2025Q2: 5,269,433 shares; 2025Q3: 5,269,433 shares 5,269,433$456M13.48%0Timeline
MERUS N VMERUS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,454,917 shares; 2024Q4: 1,689,922 shares; 2025Q1: 3,369,699 shares; 2025Q2: 4,281,954 shares; 2025Q3: 4,373,770 shares 4,373,770$412M12.18%+91,816
ACLXARCELLX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,000,000 shares; 2024Q4: 4,371,601 shares; 2025Q1: 4,492,032 shares; 2025Q2: 4,649,016 shares; 2025Q3: 4,649,016 shares 4,649,016$382M11.29%0Timeline
RVMDREVOLUTION MEDICINES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,314,089 shares; 2024Q4: 6,553,111 shares; 2025Q1: 6,178,111 shares; 2025Q2: 6,093,291 shares; 2025Q3: 6,223,291 shares 6,223,291$291M8.6%+130,000Timeline
TARSTARSUS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,440,445 shares; 2024Q4: 2,531,896 shares; 2025Q1: 2,610,197 shares; 2025Q2: 2,976,099 shares; 2025Q3: 2,665,698 shares 2,665,698$158M4.69%-310,401Timeline
PCVXVAXCYTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 627,732 shares; 2024Q4: 1,422,787 shares; 2025Q1: 1,696,481 shares; 2025Q2: 3,372,837 shares; 2025Q3: 3,784,755 shares 3,784,755$136M4.03%+411,918Timeline
ABVXABIVAX SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,564,196 shares 1,564,196$133M3.93%newTimeline
GMABGENMAB A/SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 3,816,851 shares 3,816,851$117M3.46%newTimeline
AGIOAGIOS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 276,439 shares; 2025Q1: not reported; 2025Q2: 1,142,511 shares; 2025Q3: 2,673,555 shares 2,673,555$107M3.18%+1,531,044Timeline
CRNXCRINETICS PHARMACEUTICALS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,516,686 shares; 2024Q4: 1,910,761 shares; 2025Q1: 1,946,168 shares; 2025Q2: 2,343,553 shares; 2025Q3: 2,550,774 shares 2,550,774$106M3.14%+207,221Timeline
EWTXEDGEWISE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,789,172 shares; 2024Q4: 4,493,929 shares; 2025Q1: 4,394,556 shares; 2025Q2: 6,142,344 shares; 2025Q3: 6,170,131 shares 6,170,131$100M2.96%+27,787Timeline
CDTXCIDARA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 961,164 shares 961,164$92M2.72%newTimeline
URGNUROGEN PHARMA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,216,084 shares 4,216,084$84.1M2.49%newTimeline
SRRKSCHOLAR ROCK HLDG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 400,000 shares; 2025Q1: not reported; 2025Q2: 1,600,554 shares; 2025Q3: 2,009,745 shares 2,009,745$74.8M2.21%+409,191Timeline
JANXJANUX THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,400,574 shares; 2024Q4: 3,515,986 shares; 2025Q1: 3,329,909 shares; 2025Q2: 2,920,258 shares; 2025Q3: 2,920,258 shares 2,920,258$71.4M2.11%0Timeline
OLMAOLEMA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,503,600 shares; 2024Q4: 7,304,970 shares; 2025Q1: 6,741,172 shares; 2025Q2: 6,764,172 shares; 2025Q3: 6,794,172 shares 6,794,172$66.5M1.97%+30,000Timeline
APGEAPOGEE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 701,817 shares; 2024Q4: 1,283,766 shares; 2025Q1: 961,707 shares; 2025Q2: 958,630 shares; 2025Q3: 1,521,757 shares 1,521,757$60.5M1.79%+563,127Timeline
VRDNVIRIDIAN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,895,689 shares; 2024Q4: 1,820,079 shares; 2025Q1: 2,095,079 shares; 2025Q2: 2,741,576 shares; 2025Q3: 2,609,353 shares 2,609,353$56.3M1.67%-132,223Timeline
ALKSALKERMES PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,375,569 shares; 2025Q3: 1,719,334 shares 1,719,334$51.6M1.53%+343,765Timeline
LENZLENZ THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 770,455 shares; 2025Q1: 1,511,932 shares; 2025Q2: 1,717,066 shares; 2025Q3: 1,073,461 shares 1,073,461$50M1.48%-643,605Timeline
PHVSPHARVARIS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,062,911 shares; 2025Q3: 1,835,494 shares 1,835,494$45.8M1.36%+772,583Timeline
COGTCOGENT BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,609,762 shares; 2024Q4: 4,917,412 shares; 2025Q1: 8,963,655 shares; 2025Q2: 10,352,449 shares; 2025Q3: 3,156,398 shares 3,156,398$45.3M1.34%-7,196,051Timeline
OCULOCULAR THERAPEUTIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,314,018 shares; 2025Q2: 3,420,340 shares; 2025Q3: 3,497,307 shares 3,497,307$40.9M1.21%+76,967Timeline
BBIOBRIDGEBIO PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 965,764 shares; 2025Q3: 684,277 shares 684,277$35.5M1.05%-281,487Timeline
ERASERASCA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,668,141 shares; 2024Q4: 10,752,354 shares; 2025Q1: 10,802,354 shares; 2025Q2: 11,907,182 shares; 2025Q3: 13,560,017 shares 13,560,017$29.6M0.87%+1,652,835Timeline
EYPTEYEPOINT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 2,005,365 shares 2,005,365$28.6M0.84%newTimeline
TNGXTANGO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 3,086,184 shares 3,086,184$25.9M0.77%newTimeline
AMLXAMYLYX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,900,000 shares 1,900,000$25.8M0.76%newTimeline
SYRESPYRE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,267,581 shares; 2024Q4: 1,527,205 shares; 2025Q1: 2,127,205 shares; 2025Q2: 1,870,445 shares; 2025Q3: 1,467,266 shares 1,467,266$24.6M0.73%-403,1792026-09-24, 13G: 4,457,450 shares, 5.1% of the class, 13G filed 2026-10-01 Timeline
DYNDYNE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,898,950 shares 1,898,950$24M0.71%newTimeline
BBOTBRIDGEBIO ONCOLOGY THERAPEUTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,866,141 shares 1,866,141$21.6M0.64%newTimeline
IRONDISC MEDICINE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,497,720 shares; 2024Q4: 1,497,720 shares; 2025Q1: 1,210,971 shares; 2025Q2: 1,210,971 shares; 2025Q3: 247,716 shares 247,716$16.4M0.48%-963,255Timeline
GPCRSTRUCTURE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 372,869 shares 372,869$10.4M0.31%newTimeline

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 BIOTECHput1,000,000$100Mnew
MERUS N VMERUS N V COMcall300,000$28.2Mnew
AGIOAGIOS PHARMACEUTICALS INC COMcall200,000$8.03Mnew

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
ONCBEONE MEDICINES LTD347,787$84.2Mshares
MLTXMOONLAKE IMMUNOTHERAPEUTICS878,323$41.5Mshares
Y-mAbs Therapeutics IncY-mAbs Therapeutics Inc4,236,346$19.1Mshares
IMTXIMMATICS N.V3,144,157$16.9Mshares
CBIOCRESCENT BIOPHARMA INC.642,721$10.4Mshares

How Q3 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 0001855655-25-000014 base2025-11-14acceptance time not in the bulk data set