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Vivo Capital, LLC

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13F filer, CIK 1674712, Palo Alto, CA

Vivo Capital, LLC reported $1,242,708,182 across 47 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 58% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001213900-25-110767

Period
2025-09-30
Reported value
$1.24B
Holdings
47
Top 10 weight
58%
New
8
Sold out
3

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ABVXnew+359,305$30.5M
COGTadded+1,666,666$23.9M
SABSnew+11,420,000$23M
DYNadded+1,500,000$19M
DRUGadded+250,045$15.2M

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
SLNOreduced-1,680,091-$114M
CMPSexited-3,362,385-$9.41M
CTMXreduced-2,884,615-$9.2M
IOBTQexited-6,173,439-$8.58M
CELCexited-610,500-$8.15M

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 0001213900-25-110767, largest first. % of portfolio is the value over $1,242,708,182, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
SLNOSOLENO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,291,851 shares; 2024Q4: 6,291,851 shares; 2025Q1: 4,458,294 shares; 2025Q2: 3,958,294 shares; 2025Q3: 2,278,203 shares 2,278,203$154M12.39%-1,680,091Timeline
VERONA PHARMA PLCVERONA PHARMA PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,549,758 shares; 2024Q4: 2,283,975 shares; 2025Q1: 1,438,785 shares; 2025Q2: 1,393,432 shares; 2025Q3: 1,393,432 shares 1,393,432$149M11.97%0
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: 670,600 shares; 2025Q1: 684,276 shares; 2025Q2: 1,311,425 shares; 2025Q3: 1,311,425 shares 1,311,425$126M10.11%0Timeline
TERNTERNS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,895,746 shares; 2024Q4: 6,895,746 shares; 2025Q1: 6,895,746 shares; 2025Q2: 6,895,746 shares; 2025Q3: 6,895,746 shares 6,895,746$51.8M4.17%0Timeline
TRVITREVI THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,612,903 shares; 2024Q4: 3,487,903 shares; 2025Q1: 3,487,903 shares; 2025Q2: 4,487,903 shares; 2025Q3: 5,094,668 shares 5,094,668$46.6M3.75%+606,765Timeline
AVADEL PHARMACEUTICALSAVADEL PHARMACEUTICALSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,684,109 shares; 2024Q4: 2,684,109 shares; 2025Q1: 2,684,109 shares; 2025Q2: 2,684,109 shares; 2025Q3: 2,684,109 shares 2,684,109$41M3.3%0
COGTCOGENT BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,122,471 shares; 2024Q4: 1,122,471 shares; 2025Q1: 1,122,471 shares; 2025Q2: 1,122,471 shares; 2025Q3: 2,789,137 shares 2,789,137$40.1M3.22%+1,666,666Timeline
SVASINOVAC BIOTECH LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,800,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,903,000 shares; 2025Q3: 5,903,000 shares 5,903,000$38.2M3.07%0Timeline
ORICORIC PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,277,818 shares; 2024Q4: 1,277,818 shares; 2025Q1: 2,080,450 shares; 2025Q2: 3,126,604 shares; 2025Q3: 3,126,604 shares 3,126,604$37.5M3.02%0Timeline
GERNGERON CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 27,225,292 shares; 2024Q4: 27,225,292 shares; 2025Q1: 27,225,292 shares; 2025Q2: 27,225,292 shares; 2025Q3: 27,225,292 shares 27,225,292$37.3M3%0Timeline
CMPXCOMPASS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,556,023 shares; 2024Q4: 3,556,023 shares; 2025Q1: 3,556,023 shares; 2025Q2: 6,043,466 shares; 2025Q3: 9,545,466 shares 9,545,466$33.4M2.69%+3,502,000Timeline
DYNDYNE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,114,960 shares; 2024Q4: 1,114,960 shares; 2025Q1: 1,114,960 shares; 2025Q2: 1,114,960 shares; 2025Q3: 2,614,960 shares 2,614,960$33.1M2.66%+1,500,000Timeline
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: 359,305 shares 359,305$30.5M2.45%newTimeline
DRUGBRIGHT MINDS BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 251,572 shares; 2025Q1: 251,572 shares; 2025Q2: 251,572 shares; 2025Q3: 501,617 shares 501,617$30.4M2.45%+250,045Timeline
Tourmaline Bio IncTourmaline Bio IncQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 591,882 shares; 2024Q4: 591,882 shares; 2025Q1: 591,882 shares; 2025Q2: 591,882 shares; 2025Q3: 591,882 shares 591,882$28.3M2.28%0
ZBIOZENAS BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,183,260 shares; 2024Q4: 1,183,260 shares; 2025Q1: 1,183,260 shares; 2025Q2: 1,183,260 shares; 2025Q3: 1,183,260 shares 1,183,260$26.3M2.11%0Timeline
VSTMVERASTEM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,538,461 shares; 2024Q4: 1,538,461 shares; 2025Q1: 1,538,461 shares; 2025Q2: 1,538,461 shares; 2025Q3: 2,644,985 shares 2,644,985$23.4M1.88%+1,106,524Timeline
SABSSAB BIOTHERAPEUTICS 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: 11,420,000 shares 11,420,000$23M1.85%newTimeline
VRDNVIRIDIAN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,678,207 shares; 2024Q4: 982,576 shares; 2025Q1: 982,576 shares; 2025Q2: 982,576 shares; 2025Q3: 982,576 shares 982,576$21.2M1.71%0Timeline
AKROAKERO 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: 201,168 shares; 2025Q2: 434,689 shares; 2025Q3: 434,689 shares 434,689$20.6M1.66%0Timeline
ERASERASCA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,756,756 shares; 2024Q4: 6,756,756 shares; 2025Q1: 6,756,756 shares; 2025Q2: 6,756,756 shares; 2025Q3: 9,273,428 shares 9,273,428$20.2M1.63%+2,516,672Timeline
RZLTREZOLUTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,797,704 shares; 2024Q4: 2,797,704 shares; 2025Q1: 2,112,432 shares; 2025Q2: 2,112,432 shares; 2025Q3: 2,112,432 shares 2,112,432$19.9M1.6%0Timeline
ACRSACLARIS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 8,888,888 shares; 2025Q1: 8,888,888 shares; 2025Q2: 8,888,888 shares; 2025Q3: 8,888,888 shares 8,888,888$16.9M1.36%0Timeline
CRVSCORVUS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,497,268 shares; 2024Q4: 2,234,566 shares; 2025Q1: 2,234,566 shares; 2025Q2: 2,234,566 shares; 2025Q3: 2,234,566 shares 2,234,566$16.5M1.33%0Timeline
OLMAOLEMA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,505,862 shares; 2024Q4: 1,505,862 shares; 2025Q1: 1,505,862 shares; 2025Q2: 1,505,862 shares; 2025Q3: 1,505,862 shares 1,505,862$14.7M1.19%0Timeline
DNTHDIANTHUS 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: 353,998 shares 353,998$13.9M1.12%newTimeline
LBRXLB 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: 800,000 shares 800,000$12.6M1.02%newTimeline
CAMPCAMP4 THERAPEUTICS CORPQuarterly 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: 3,921,568 shares 3,921,568$11.8M0.95%newTimeline
ASTRIA THERAPEUTICS INCASTRIA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,552,685 shares; 2024Q4: 1,552,685 shares; 2025Q1: 1,552,685 shares; 2025Q2: 1,552,685 shares; 2025Q3: 1,552,685 shares 1,552,685$11.3M0.91%0
PEPGPEPGEN 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: 2,325,000 shares 2,325,000$10.7M0.86%newTimeline
DBVTDBV TECHNOLOGIES S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 32,020 shares; 2025Q1: not reported; 2025Q2: 1,054,506 shares; 2025Q3: 1,054,506 shares 1,054,506$10.5M0.85%0Timeline
PRAXPRAXIS PRECISION MEDICINES IQuarterly 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: 167,600 shares; 2025Q3: 198,895 shares 198,895$10.5M0.85%+31,295Timeline
ABEOABEONA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,842,751 shares; 2024Q4: 1,842,751 shares; 2025Q1: 1,842,751 shares; 2025Q2: 1,842,751 shares; 2025Q3: 1,842,751 shares 1,842,751$9.73M0.78%0Timeline
CTMXCYTOMX THERAPEUTICS INC.Quarterly 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: 5,769,230 shares; 2025Q3: 2,884,615 shares 2,884,615$9.2M0.74%-2,884,615Timeline
EPRXEUPRAXIA 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: 1,350,000 shares 1,350,000$7.96M0.64%newTimeline
UNCYUNICYCIVE 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: 1,137,015 shares; 2025Q3: 1,789,916 shares 1,789,916$7.8M0.63%+652,901Timeline
MNPRMONOPAR 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: 90,500 shares 90,500$7.39M0.59%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: 600,000 shares; 2025Q3: 776,699 shares 776,699$6.52M0.53%+176,699Timeline
DCTHDELCATH SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 997,005 shares; 2024Q4: 1,708,579 shares; 2025Q1: 750,195 shares; 2025Q2: 569,526 shares; 2025Q3: 569,526 shares 569,526$6.12M0.49%0Timeline
SLNSILENCE THERAPEUTICS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,105,454 shares; 2024Q4: 1,105,454 shares; 2025Q1: 1,105,454 shares; 2025Q2: 1,105,454 shares; 2025Q3: 1,105,454 shares 1,105,454$5.74M0.46%0Timeline
89BIO INC89BIO 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: 376,804 shares; 2025Q2: 376,804 shares; 2025Q3: 376,804 shares 376,804$5.54M0.45%0
TILINSTIL BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 624,339 shares; 2024Q4: 585,485 shares; 2025Q1: 585,485 shares; 2025Q2: 292,743 shares; 2025Q3: 292,743 shares 292,743$5.23M0.42%0Timeline
SERASERA PROGNOSTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,650,440 shares; 2024Q4: 1,650,440 shares; 2025Q1: 1,650,440 shares; 2025Q2: 1,650,440 shares; 2025Q3: 1,650,440 shares 1,650,440$5.05M0.41%0Timeline
SRZNSURROZEN 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: 260,000 shares; 2025Q2: 260,000 shares; 2025Q3: 260,000 shares 260,000$3.35M0.27%0Timeline
TENXTENAX THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 208,333 shares; 2024Q4: 208,333 shares; 2025Q1: 208,333 shares; 2025Q2: 208,333 shares; 2025Q3: 208,333 shares 208,333$1.59M0.13%0Timeline
BOLTBOLT BIOTHERAPEUTICS 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: 176,064 shares; 2025Q3: 176,064 shares 176,064$937K0.08%0Timeline
DTILPRECISION BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,675 shares; 2024Q4: 4,675 shares; 2025Q1: 4,675 shares; 2025Q2: 4,675 shares; 2025Q3: 4,675 shares 4,675$25.8K<0.01%0Timeline

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
CMPSCOMPASS PATHWAYS PLC3,362,385$9.41Mshares
IOBTQIO BIOTECH INC6,173,439$8.58Mshares
CELCCELCUITY INC610,500$8.15Mshares

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 0001213900-25-110767 base2025-11-14acceptance time not in the bulk data set