Skip to content
Disclosery

SILVERARC CAPITAL MANAGEMENT, LLC

Follow

13F filer, CIK 1816307, BOSTON, MA

SILVERARC CAPITAL MANAGEMENT, LLC reported $488,995,340 across 69 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-14. Its ten largest share positions make up 50.4% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001420506-25-001107

Period
2025-03-31
Reported value
$489M
Holdings
69
Top 10 weight
50.4%
New
24
Sold out
16

Part of the filer group SILVERARC CAPITAL MANAGEMENT, LLC

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
KALVadded+1,086,811$12.5M
SLNOnew+166,417$11.9M
89BIO INCadded+1,413,987$10.3M
NBIXnew+72,583$8.03M
IRONadded+126,090$6.26M

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
PLRXexited-1,315,601-$17.3M
INTRA-CELLULAR THERAPIES INCexited-179,085-$15M
POSEIDA THERAPEUTICS INCexited-1,012,307-$9.72M
SRRKexited-183,243-$7.92M
COGTexited-921,137-$7.18M

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, Q1 2025

Share positions as resolved from 13F-HR 0001420506-25-001107, largest first. % of portfolio is the value over $478,648,027, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
VERONA PHARMA PLCVERONA PHARMA PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 348,866 shares; 2024Q4: 516,014 shares; 2025Q1: 545,872 shares 545,872$34.7M7.24%+29,858
MERUS N VMERUS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 635,439 shares; 2024Q4: 680,845 shares; 2025Q1: 811,021 shares 811,021$34.1M7.13%+130,176
NUVLNUVALENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 371,441 shares; 2024Q4: 400,014 shares; 2025Q1: 439,018 shares 439,018$31.1M6.5%+39,004Timeline
AKROAKERO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 639,840 shares; 2024Q4: 739,563 shares; 2025Q1: 719,992 shares 719,992$29.1M6.09%-19,571Timeline
INSMINSMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 347,695 shares; 2024Q4: 372,230 shares; 2025Q1: 321,366 shares 321,366$24.5M5.12%-50,864Timeline
KALVKALVISTA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 574,558 shares; 2024Q4: 612,173 shares; 2025Q1: 1,698,984 shares 1,698,984$19.6M4.1%+1,086,811Timeline
VCYTVERACYTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 470,565 shares; 2024Q4: 503,281 shares; 2025Q1: 633,832 shares 633,832$18.8M3.93%+130,551Timeline
RYTMRHYTHM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 255,578 shares; 2024Q4: 273,896 shares; 2025Q1: 337,605 shares 337,605$17.9M3.74%+63,709Timeline
SNDXSYNDAX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 378,746 shares; 2024Q4: 1,230,400 shares; 2025Q1: 1,309,224 shares 1,309,224$16.1M3.36%+78,824Timeline
URGNUROGEN PHARMA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 901,129 shares; 2024Q4: 1,120,473 shares; 2025Q1: 1,381,158 shares 1,381,158$15.3M3.19%+260,685Timeline
RNAMAVIDITY BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 475,555 shares; 2024Q4: 543,651 shares; 2025Q1: 411,312 shares 411,312$12.1M2.54%-132,339Timeline
SLNOSOLENO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 166,417 shares 166,417$11.9M2.48%newTimeline
ASNDASCENDIS PHARMA A/SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,000 shares; 2024Q4: 51,491 shares; 2025Q1: 75,751 shares 75,751$11.8M2.47%+24,260Timeline
IRONDISC MEDICINE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 103,862 shares; 2024Q4: 110,381 shares; 2025Q1: 236,471 shares 236,471$11.7M2.45%+126,090Timeline
ORICORIC PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,099,490 shares; 2024Q4: 1,178,300 shares; 2025Q1: 2,060,240 shares 2,060,240$11.5M2.4%+881,940Timeline
89BIO INC89BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 92,298 shares; 2024Q4: 96,511 shares; 2025Q1: 1,510,498 shares 1,510,498$11M2.29%+1,413,987
ERASERASCA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,946,488 shares; 2024Q4: 7,543,901 shares; 2025Q1: 7,367,996 shares 7,367,996$10.1M2.11%-175,905Timeline
WVEWAVE LIFE SCIENCES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 627,552 shares; 2024Q4: 608,897 shares; 2025Q1: 1,050,374 shares 1,050,374$8.49M1.77%+441,477Timeline
NBIXNEUROCRINE BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 72,583 shares 72,583$8.03M1.68%newTimeline
TVTXTRAVERE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 277,365 shares; 2025Q1: 408,849 shares 408,849$7.33M1.53%+131,484Timeline
GOSSGOSSAMER BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,645,352 shares; 2024Q4: 6,171,847 shares; 2025Q1: 6,320,684 shares 6,320,684$6.95M1.45%+148,837Timeline
GILDGILEAD SCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 10,000 shares; 2025Q1: 62,029 shares 62,029$6.95M1.45%+52,029Timeline
HELIX ACQUISITION CORP IIHELIX ACQUISITION CORP IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 513,369 shares; 2024Q4: 513,369 shares; 2025Q1: 613,393 shares 613,393$6.93M1.45%+100,024
ELUTELUTIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,645,808 shares; 2024Q4: 1,782,271 shares; 2025Q1: 2,670,056 shares 2,670,056$6.76M1.41%+887,785Timeline
PRAXPRAXIS PRECISION MEDICINES IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 67,045 shares; 2024Q4: 72,516 shares; 2025Q1: 166,074 shares 166,074$6.29M1.31%+93,558Timeline
MLYSMINERALYS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 338,354 shares 338,354$5.37M1.12%newTimeline
CGENCOMPUGEN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,501,113 shares; 2024Q4: 1,624,377 shares; 2025Q1: 2,895,430 shares 2,895,430$4.23M0.88%+1,271,053Timeline
TARSTARSUS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 40,000 shares; 2024Q4: 65,955 shares; 2025Q1: 81,331 shares 81,331$4.18M0.87%+15,376Timeline
ALKSALKERMES PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 124,871 shares 124,871$4.12M0.86%newTimeline
OCULOCULAR THERAPEUTIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 551,570 shares 551,570$4.04M0.84%newTimeline
BBIOBRIDGEBIO PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 111,000 shares 111,000$3.84M0.8%newTimeline
KURAKURA ONCOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 581,369 shares 581,369$3.84M0.8%newTimeline
CLDXCELLDEX THERAPEUTICS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 145,000 shares; 2024Q4: 264,560 shares; 2025Q1: 205,962 shares 205,962$3.74M0.78%-58,598Timeline
DNTHDIANTHUS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 190,334 shares 190,334$3.45M0.72%newTimeline
MDGLMADRIGAL PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 10,344 shares 10,344$3.43M0.72%newTimeline
CERSCERUS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,495,329 shares; 2024Q4: 1,587,228 shares; 2025Q1: 2,456,537 shares 2,456,537$3.41M0.71%+869,309Timeline
TELATELA BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,124,928 shares; 2024Q4: 3,065,649 shares; 2025Q1: 2,771,288 shares 2,771,288$3.38M0.71%-294,361Timeline
CNTACENTESSA PHARMACEUTICALS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 744,592 shares; 2024Q4: 598,952 shares; 2025Q1: 232,758 shares 232,758$3.35M0.7%-366,194Timeline
TRVITREVI THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 482,575 shares; 2024Q4: 734,234 shares; 2025Q1: 530,000 shares 530,000$3.33M0.7%-204,234Timeline
BLUEPRINT MEDICINES CORPBLUEPRINT MEDICINES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 37,345 shares 37,345$3.31M0.69%new
GPCRSTRUCTURE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 70,516 shares; 2024Q4: 152,395 shares; 2025Q1: 188,069 shares 188,069$3.26M0.68%+35,674Timeline
BNTCBENITEC BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 250,000 shares 250,000$3.25M0.68%newTimeline
LQDALIQUIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 214,057 shares 214,057$3.16M0.66%newTimeline
PTCTPTC THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 60,389 shares 60,389$3.08M0.64%newTimeline
MTSRMETSERA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 112,759 shares 112,759$3.07M0.64%newTimeline
BIODESIX INCBIODESIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,561,094 shares; 2024Q4: 4,332,281 shares; 2025Q1: 4,098,406 shares 4,098,406$2.56M0.54%-233,875
DCTHDELCATH SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 155,325 shares; 2025Q1: 191,470 shares 191,470$2.44M0.51%+36,145Timeline
QUREUNIQURE NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 100,000 shares; 2025Q1: 203,400 shares 203,400$2.16M0.45%+103,400Timeline
KNSAKINIKSA PHARMACEUTICALS INTLQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 88,215 shares 88,215$1.96M0.41%newTimeline
SLDBSOLID BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 457,739 shares; 2024Q4: not reported; 2025Q1: 452,239 shares 452,239$1.67M0.35%newTimeline
CMPXCOMPASS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 874,869 shares 874,869$1.66M0.35%newTimeline
CCCCC4 THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,147,891 shares; 2024Q4: 1,221,131 shares; 2025Q1: 882,300 shares 882,300$1.41M0.29%-338,831Timeline
KALAKALA BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 231,070 shares; 2025Q1: 246,079 shares 246,079$1.41M0.29%+15,009Timeline
UNICYCIVE THERAPEUTICS INCUNICYCIVE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,000,000 shares; 2024Q4: 2,486,709 shares; 2025Q1: 2,413,489 shares 2,413,489$1.39M0.29%-73,220
ABVXABIVAX SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 461,660 shares; 2024Q4: 285,120 shares; 2025Q1: 210,901 shares 210,901$1.32M0.28%-74,219Timeline
KODKODIAK SCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 500,000 shares; 2024Q4: 1,000,000 shares; 2025Q1: 441,807 shares 441,807$1.24M0.26%-558,193Timeline
SIONSIONNA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 114,138 shares 114,138$1.19M0.25%newTimeline
IFRXINFLARX NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,161,567 shares 1,161,567$1.18M0.25%newTimeline
Mersana Therapeutics IncMersana Therapeutics IncQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,585,786 shares; 2024Q4: not reported; 2025Q1: 3,088,505 shares 3,088,505$1.06M0.22%new
MODDMODULAR MED INC COM NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,440,000 shares; 2024Q4: 1,272,015 shares; 2025Q1: 958,881 shares 958,881$1.05M0.22%-313,134Timeline
RADXRADIOPHARM THERANOSTICS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 187,406 shares; 2025Q1: 187,406 shares 187,406$901K0.19%0Timeline
AARDAARDVARK THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 119,496 shares 119,496$897K0.19%newTimeline
XENEXENON PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 10,121 shares 10,121$340K0.07%newTimeline
AVADEL PHARMACEUTICALSAVADEL PHARMACEUTICALSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 39,366 shares 39,366$308K0.06%new
GUTSFRACTYL HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 166,666 shares; 2024Q4: 176,922 shares; 2025Q1: 237,448 shares 237,448$283K0.06%+60,526Timeline
VXRTVAXART INC COM NEW (DE)Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,000,000 shares; 2024Q4: 1,077,782 shares; 2025Q1: 683,825 shares 683,825$278K0.06%-393,957Timeline
RCKTWROCKET PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 104,828 shares; 2024Q4: 104,828 shares; 2025Q1: 104,828 shares 104,828$4.93K<0.01%0Timeline

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
AKERO THERAPEUTICS INCAKERO THERAPEUTICS INC CALLcall180,600$7.31M-39,400
SOLENO THERAPEUTICS INCSOLENO THERAPEUTICS INC PUTput42,500$3.04Mnew

Sold out in Q1 2025

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

SecurityShares beforeValue beforeType
PLRXPLIANT THERAPEUTICS INC1,315,601$17.3Mshares
INTRA-CELLULAR THERAPIES INCINTRA-CELLULAR THERAPIES INC179,085$15Mshares
POSEIDA THERAPEUTICS INCPOSEIDA THERAPEUTICS INC1,012,307$9.72Mshares
SRRKSCHOLAR ROCK HLDG CORP183,243$7.92Mshares
COGTCOGENT BIOSCIENCES INC921,137$7.18Mshares
RAREULTRAGENYX PHARMACEUTICAL IN124,388$5.23Mshares
INCYINCYTE CORP49,000$3.38Mshares
PCVXVAXCYTE INC40,788$3.34Mshares
GERNGERON CORP920,022$3.26Mshares
SYNDAX PHARMACEUTICALS INCSYNDAX PHARMACEUTICALS INC172,400$2.28Mcall
VRDNVIRIDIAN THERAPEUTICS INC100,000$1.92Mshares
NEUMORA THERAPEUTICS INC.NEUMORA THERAPEUTICS INC.147,200$1.56Mcall
OLMAOLEMA PHARMACEUTICALS INC233,281$1.36Mshares
EYPTEYEPOINT INC121,274$903Kshares
KARYOPHARM THERAPEUTICS INCKARYOPHARM THERAPEUTICS INC595,990$403Kshares
BIOABIOAGE LABS INC39,974$231Kshares

How Q1 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 0001420506-25-001107 base2025-05-14acceptance time not in the bulk data set