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Stonepine Capital Management, LLC

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13F filer, CIK 1440771, Bend, OR

Stonepine Capital Management, LLC reported $136,970,409 across 66 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-13. Its ten largest share positions make up 57.44% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000935836-26-000090

Period
2025-12-31
Reported value
$137M
Holdings
66
Top 10 weight
57.44%
New
32
Sold out
24

Largest buys vs the previous quarter

SecurityShares changeApprox. value
IKTadded+1,613,128$3.31M
CRBPnew+389,916$3.17M
KZIAnew+460,359$3.17M
VRCAnew+353,669$2.94M
HELPnew+339,902$2.78M

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
DAWNreduced-447,382-$4.17M
ENTAreduced-205,000-$3.23M
SRZNreduced-136,515-$3.09M
OABIreduced-1,441,857-$2.67M
ZVRAreduced-240,912-$2.16M

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 0000935836-26-000090, largest first. % of portfolio is the value over $126,433,409, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
VSTMVERASTEM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,310,287 shares; 2024Q4: 870,000 shares; 2025Q1: 613,000 shares; 2025Q2: 1,360,386 shares; 2025Q3: 2,670,032 shares; 2025Q4: 2,732,079 shares 2,732,079$21.1M16.68%+62,047Timeline
ADMAADMA BIOLOGICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,870,000 shares; 2024Q4: 1,241,032 shares; 2025Q1: 810,000 shares; 2025Q2: 750,000 shares; 2025Q3: 739,000 shares; 2025Q4: 740,000 shares 740,000$13.5M10.68%+1,000Timeline
EOLSEVOLUS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,369,821 shares; 2024Q4: 1,264,651 shares; 2025Q1: 1,134,574 shares; 2025Q2: 916,500 shares; 2025Q3: 1,536,391 shares; 2025Q4: 1,631,588 shares 1,631,588$10.9M8.58%+95,197Timeline
ZVRAZEVRA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 700,000 shares; 2024Q4: 597,700 shares; 2025Q1: 650,000 shares; 2025Q2: 775,620 shares; 2025Q3: 810,000 shares; 2025Q4: 569,088 shares 569,088$5.1M4.03%-240,912Timeline
IKTINHIBIKASE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,132,388 shares; 2025Q1: 914,973 shares; 2025Q2: 733,793 shares; 2025Q3: 735,019 shares; 2025Q4: 2,348,147 shares 2,348,147$4.81M3.81%+1,613,128Timeline
ABEOABEONA 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: 45,000 shares; 2025Q3: 450,970 shares; 2025Q4: 709,505 shares 709,505$3.74M2.96%+258,535Timeline
NKTRNEKTAR THERAPEUTICSQuarterly 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: 50,200 shares; 2025Q3: 85,000 shares; 2025Q4: 85,000 shares 85,000$3.59M2.84%0Timeline
INDIVIOR PLCINDIVIOR PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 270,000 shares; 2024Q4: 305,000 shares; 2025Q1: 304,000 shares; 2025Q2: 350,000 shares; 2025Q3: 100,000 shares; 2025Q4: 100,000 shares 100,000$3.59M2.84%0
CRBPCORBUS PHARMACEUTICALS HLDGSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 35,000 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 389,916 shares 389,916$3.17M2.51%newTimeline
KZIAKAZIA 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: not reported; 2025Q4: 460,359 shares 460,359$3.17M2.51%newTimeline
XOMAXOMA ROYALTY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 195,096 shares; 2024Q4: 125,700 shares; 2025Q1: 129,813 shares; 2025Q2: 152,143 shares; 2025Q3: 115,459 shares; 2025Q4: 115,000 shares 115,000$3.06M2.42%-459Timeline
VRCAVERRICA 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: 353,669 shares 353,669$2.94M2.32%newTimeline
HELPCYBIN 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: 339,902 shares 339,902$2.78M2.2%newTimeline
TELATELA BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,110,000 shares; 2024Q4: 2,353,099 shares; 2025Q1: 2,055,225 shares; 2025Q2: 2,083,762 shares; 2025Q3: 2,155,519 shares; 2025Q4: 2,352,032 shares 2,352,032$2.78M2.2%+196,513Timeline
ACADACADIA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 196,895 shares; 2024Q4: 220,000 shares; 2025Q1: 93,393 shares; 2025Q2: 225,000 shares; 2025Q3: 174,544 shares; 2025Q4: 100,000 shares 100,000$2.67M2.11%-74,544Timeline
SRZNSURROZEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 110,000 shares; 2024Q4: 137,200 shares; 2025Q1: 285,782 shares; 2025Q2: 306,029 shares; 2025Q3: 250,146 shares; 2025Q4: 113,631 shares 113,631$2.57M2.03%-136,515Timeline
XFORX4 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: 1,056,338 shares; 2025Q4: 593,573 shares 593,573$2.37M1.88%-462,765Timeline
AYTUAYTU BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 500,958 shares; 2024Q4: 407,549 shares; 2025Q1: 463,721 shares; 2025Q2: 812,676 shares; 2025Q3: 891,855 shares; 2025Q4: 813,704 shares 813,704$2.12M1.67%-78,151Timeline
DAWNDAY ONE BIOPHARMACEUTICALS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 205,675 shares; 2024Q4: 235,000 shares; 2025Q1: 348,820 shares; 2025Q2: 450,000 shares; 2025Q3: 647,382 shares; 2025Q4: 200,000 shares 200,000$1.86M1.47%-447,382Timeline
ACETADICET 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: 220,011 shares 220,011$1.85M1.47%newTimeline
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: not reported; 2025Q4: 19,742 shares 19,742$1.72M1.36%newTimeline
HRTXHERON THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 700,000 shares; 2025Q1: 796,100 shares; 2025Q2: 657,380 shares; 2025Q3: 850,100 shares; 2025Q4: 1,237,802 shares 1,237,802$1.61M1.27%+387,702Timeline
ENTAENANTA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 331,900 shares; 2025Q1: 590,742 shares; 2025Q2: 604,066 shares; 2025Q3: 305,000 shares; 2025Q4: 100,000 shares 100,000$1.58M1.25%-205,000Timeline
PMVPPMV PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 535,805 shares; 2025Q1: 630,183 shares; 2025Q2: 845,968 shares; 2025Q3: 1,370,139 shares; 2025Q4: 1,150,759 shares 1,150,759$1.44M1.14%-219,380Timeline
CAMPCAMP4 THERAPEUTICS 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: 228,894 shares 228,894$1.4M1.11%newTimeline
ELDNELEDON 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: 893,100 shares 893,100$1.35M1.07%newTimeline
MISTMILESTONE PHARMACEUTICALS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 999,790 shares; 2024Q4: 500,000 shares; 2025Q1: 250,000 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 662,666 shares 662,666$1.34M1.06%newTimeline
OABIOMNIAB 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: 2,142,857 shares; 2025Q4: 701,000 shares 701,000$1.3M1.03%-1,441,857Timeline
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: 78,189 shares 78,189$1.13M0.89%newTimeline
LUNGPULMONX 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: 145,900 shares; 2025Q3: 670,000 shares; 2025Q4: 486,400 shares 486,400$1.07M0.85%-183,600Timeline
GERNGERON CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 500,000 shares; 2025Q2: 1,000,000 shares; 2025Q3: 1,600,000 shares; 2025Q4: 805,800 shares 805,800$1.06M0.84%-794,200Timeline
CBIOCRESCENT BIOPHARMA 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: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 87,682 shares 87,682$1.04M0.82%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: 110,000 shares; 2025Q1: 100,000 shares; 2025Q2: 169,859 shares; 2025Q3: 383,182 shares; 2025Q4: 156,179 shares 156,179$982K0.78%-227,003Timeline
EDSAEDESA 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: 687,500 shares; 2025Q2: not reported; 2025Q3: 687,500 shares; 2025Q4: 687,500 shares 687,500$976K0.77%0Timeline
BOLDBOUNDLESS 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: 106,175 shares; 2025Q3: 413,453 shares; 2025Q4: 710,071 shares 710,071$852K0.67%+296,618Timeline
RADXRADIOPHARM THERANOSTICS 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: 51,000,000 shares 51,000,000$851K0.67%newTimeline
SEMLER SCIENTIFIC INCSEMLER SCIENTIFIC 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: 50,000 shares 50,000$764K0.6%new
MXCTMAXCYTE 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: 459,018 shares; 2025Q4: 469,018 shares 469,018$727K0.57%+10,000Timeline
ANTXAN2 THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 196,732 shares; 2025Q1: not reported; 2025Q2: 544,494 shares; 2025Q3: 563,913 shares; 2025Q4: 627,668 shares 627,668$716K0.57%+63,755Timeline
GOSSGOSSAMER 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: 204,770 shares; 2025Q4: 204,770 shares 204,770$635K0.5%0Timeline
ZNTLZENTALIS 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: 60,000 shares; 2025Q2: 109,010 shares; 2025Q3: 453,800 shares; 2025Q4: 463,700 shares 463,700$626K0.5%+9,900Timeline
BIOABIOAGE LABS 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: 151,085 shares; 2025Q3: 188,571 shares; 2025Q4: 45,000 shares 45,000$595K0.47%-143,571Timeline
MNKDMANNKIND 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: 157,569 shares; 2025Q4: 86,359 shares 86,359$490K0.39%-71,210Timeline
CGENCOMPUGEN 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: 305,400 shares 305,400$467K0.37%newTimeline
CDXSCODEXIS 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: 88,264 shares; 2025Q4: 256,106 shares 256,106$417K0.33%+167,842Timeline
INABIN8BIO 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: 82,430 shares; 2025Q3: 159,421 shares; 2025Q4: 164,893 shares 164,893$386K0.31%+5,472Timeline
FENCFENNEC 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: 50,000 shares 50,000$385K0.3%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: 171,100 shares 171,100$375K0.3%newTimeline
KTTAPASITHEA THERAPEUTICS 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: 275,062 shares 275,062$355K0.28%newTimeline
PLRXPLIANT 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: 289,237 shares; 2025Q4: 230,050 shares 230,050$281K0.22%-59,187Timeline
JANXJANUX 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: 20,000 shares 20,000$276K0.22%newTimeline
DCTHDELCATH SYS 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: 27,232 shares 27,232$275K0.22%newTimeline
KPRXKIORA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 202,400 shares; 2024Q4: 200,970 shares; 2025Q1: 200,647 shares; 2025Q2: 178,000 shares; 2025Q3: 140,598 shares; 2025Q4: 131,144 shares 131,144$258K0.2%-9,454Timeline
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: 48,827 shares 48,827$256K0.2%newTimeline
TNYATENAYA 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: 352,001 shares 352,001$250K0.2%newTimeline
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: not reported; 2025Q4: 102,367 shares 102,367$167K0.13%newTimeline
TENXTENAX THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 11,884 shares 11,884$145K0.11%newTimeline
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: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 20,000 shares 20,000$95.4K0.08%newTimeline
XLOXilio 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: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 126,270 shares 126,270$80.8K0.06%newTimeline
CRISCURIS 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: 59,349 shares 59,349$58.6K0.05%newTimeline
PCSAPROCESSA 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: 12,323 shares 12,323$35.5K0.03%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
CRSPCRISPR THERAPEUTICS AG Stockcall50,000$2.62Mnew
AREALEXANDRIA REAL ESTATE EQ IN REITcall50,000$2.45Mnew
RAREULTRAGENYX PHARMACEUTICAL IN COMcall100,000$2.3Mnew
NKTRNEKTAR THERAPEUTICS COMMON STOCKcall50,000$2.11Mnew
ABEOABEONA THERAPEUTICS INC COM NEWcall200,000$1.05Mnew

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
SLNOSOLENO THERAPEUTICS INC24,000$1.62Mshares
ALMSALUMIS INC300,000$1.2Mshares
ARDXARDELYX INC200,000$1.1Mshares
DVAXDYNAVAX TECHNOLOGIES CORP108,094$1.07Mshares
VNDAVANDA PHARMACEUTICALS INC195,000$973Kshares
VIRVIR BIOTECHNOLOGY INC160,000$914Kshares
ANGOANGIODYNAMICS INC60,000$670Kshares
GRCEGRACE THERAPEUTICS INC211,010$628Kshares
RAREULTRAGENYX PHARMACEUTICAL IN20,000$602Kshares
SNDXSYNDAX PHARMACEUTICALS INC37,200$572Kshares
AQSTAQUESTIVE THERAPEUTICS INC100,600$562Kshares
HCATHEALTH CATALYST INC155,551$443Kshares
ESTAESTABLISHMENT LABS HLDGS INC10,585$434Kshares
CTMXCYTOMX THERAPEUTICS INC.125,000$399Kshares
RZLTREZOLUTE INC40,000$376Kshares
ACRSACLARIS THERAPEUTICS INC192,900$367Kshares
HSDTSOLANA CO20,000$298Kshares
SVRASAVARA INC60,000$214Kshares
ABVXABIVAX SA2,500$212Kshares
PROCESSA PHARMACEUTICALS INCPROCESSA PHARMACEUTICALS INC1,030,200$198Kshares
LRMRLARIMAR THERAPEUTICS INC25,000$80.8Kshares
CMMBCHEMOMAB THERAPEUTICS LTD30,000$78.9Kshares
WHWKWHITEHAWK THERAPEUTICS INC35,253$67Kshares
JSPRJASPER THERAPEUTICS INC20,200$48.1Kshares

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 0000935836-26-000090 base2026-02-13acceptance time not in the bulk data set