BVF Inc.

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), BVF Inc. reported 62 stock positions worth $3.6 billion. Its top holding was Moonlake Immunotherapeutics (MLTX) at 30.0% of the portfolio, followed by Kymera Therapeutics (KYMR, 5.7%) and Revolution Medicines (RVMD, 5.3%). Compared with Q4 2023, it opened 2 new positions, sold out of 10, added to 4 and reduced 12. The biggest buy was a new position in CG Oncology (CGON) and the biggest sale an exit from Axsome Therapeutics (AXSM).

Most Recent 13F
Q2 2026
Location
San Francisco, CA
CIK
0001056807
Portfolio Value
$3.6B (Q1 2024)
SEC Filing
0000921895-24-001219 ↗ filed May 15, 2024

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $3.6B $3.6B Q1 2024 Q2 2024: $3.6B Q2 2024 Q3 2024: $3.4B Q3 2024 Q4 2024: $3.0B Q4 2024 Q1 2025: $2.5B Q1 2025 Q2 2025: $2.8B Q2 2025 Q3 2025: $2.5B Q3 2025 Q4 2025: $3.0B Q4 2025 Q1 2026: $3.1B Q1 2026 Q2 2026: $3.9B Q2 2026

Holdings 62 stocks · $3.6B
MLTX Moonlake Immunotherapeutics 30.04% 21,751,284 $1.1B No change
KYMR Kymera Therapeutics Inc. 5.70% 5,161,801 $207.5M No change
RVMD Revolution Medicines Inc. 5.30% 5,981,212 $192.8M No change
FDMT 4D Molecular Therapeutics Inc. 3.44% 3,922,413 $125.0M Reduce -2.1%
GHRS GH Research PLC 3.05% 10,400,158 $110.9M No change
JANX Janux Therapeutics Inc. 3.02% 2,919,818 $109.9M Reduce -36.3%
MIRM Mirum Pharmaceuticals Inc. 3.02% 4,370,024 $109.8M No change
PTGX Protagonist Therapeutics Inc. 2.99% 3,755,990 $108.7M Reduce -34.6%
IONS Ionis Pharmaceuticals Inc. 2.89% 2,428,613 $105.3M No change
OLMA Olema Pharmaceuticals Inc. 2.84% 9,135,893 $103.4M No change
KURA Kura Oncology Inc. 2.81% 4,786,293 $102.1M Reduce -35.1%
XOMA Xoma Royalty Corporation filed as XOMA CORP DEL 2.40% 3,633,743 $87.4M No change
CGON CG Oncology Inc. 2.27% 1,884,191 $82.7M New
TYRA Tyra Biosciences Inc. 2.10% 4,661,194 $76.4M Add +70.1%
EPIX Essa Pharma Inc. 2.04% 8,748,629 $74.3M No change
ZYME Zymeworks Inc. 1.70% 5,870,000 $61.8M No change
LKFT Lakefront Biotherapeutic-ADR filed as GALAPAGOS NV 1.65% 1,863,809 $60.0M Reduce -2.7%
CGEM Cullinan Therapeutics Inc. 1.50% 3,196,701 $54.5M No change
MRUS Merus NV 1.45% 1,172,249 $52.8M Reduce -57.4%
IDYA Ideaya Biosciences Inc. 1.40% 1,162,306 $51.0M Reduce -32.8%
ANNX Annexon Inc. 1.38% 7,000,000 $50.2M No change
RPTX Repare Therapeutics Inc. 1.34% 10,333,600 $48.7M No change
ETNB 89BIO Inc. 1.30% 4,047,354 $47.1M No change
SNDX Syndax Pharmaceuticals Inc. 1.23% 1,875,000 $44.6M No change
ACIU Ac Immune SA 1.19% 14,571,236 $43.1M No change
THRD Third Harmonic Bio Inc. 1.13% 4,365,933 $41.2M No change
ENGN Engene Holdings Inc. 1.05% 2,251,037 $38.2M No change
NAMS Newamsterdam Pharma Co. NV 0.99% 1,521,948 $36.0M No change
GPCR Structure Therapeutics Inc. 0.96% 812,988 $34.8M No change
ROIV Roivant Sciences Ltd. 0.79% 2,742,409 $28.9M No change
GLYCOMIMETICS INC 0.79% 9,544,262 $28.6M No change
TCRX Tscan Therapeutics Inc. 0.65% 2,989,474 $23.7M No change
ALLK Allakos LLC 0.57% 16,552,417 $20.9M Add +93.5%
VSTM Verastem Inc. 0.55% 1,685,219 $19.9M No change
CALT Calliditas Therapeutics-ADR 0.45% 750,000 $16.2M No change
CTMX Cytomx Therapeutics Inc. 0.40% 6,595,801 $14.4M No change
ELEV Elevation Oncology Inc. 0.33% 2,312,200 $11.9M No change
OVID Ovid Therapeutics Inc. 0.32% 3,853,818 $11.8M Reduce -43.8%
IMUX Immunic Inc. 0.32% 8,902,972 $11.8M New
VTGN Vistagen Therapeutics Inc. 0.29% 2,000,000 $10.6M No change
ELDN Eledon Pharmaceuticals Inc. 0.24% 4,326,710 $8.9M No change
VERV Verve Therapeutics Inc. 0.24% 650,000 $8.6M No change
IKENA ONCOLOGY INC 0.19% 4,769,164 $6.8M No change
CIDARA THERAPEUTICS INC COM NEW 0.17% 6,861,127 $6.3M No change
VIGL Vigil Neuroscience Inc. 0.17% 1,813,633 $6.2M No change
DCTH Delcath Systems Inc. 0.16% 1,202,067 $5.7M Add +23.1%
UNICYCIVE THERAPEUTICS INC 0.14% 3,611,601 $5.0M Add +70.5%
ENGENE HOLDINGS INC 0.14% 945,402 $4.9M No change
SABS Sab Biotherapeutics Inc. 0.11% 917,826 $4.2M No change
LXRX Lexicon Pharmaceuticals Inc. 0.11% 1,686,924 $4.0M Reduce -93.1%
ANTX AN2 Therapeutics Inc. 0.11% 1,239,470 $4.0M Reduce -20.8%
KRON Kronos Bio Inc. 0.10% 2,905,043 $3.8M No change
PIERIS PHARMACEUTICALS INC 0.10% 20,609,863 $3.8M No change
VIRX Viracta Therapeutics Inc. 0.10% 3,614,662 $3.7M No change
IVA Inventiva SA - ADR 0.07% 686,040 $2.5M No change
FORTE BIOSCIENCES INC 0.06% 2,982,105 $2.1M No change
MOLN Molecular Partners AG -ADR 0.05% 443,221 $1.7M No change
MTEMQ Molecular Templates Inc. 0.03% 522,238 $1.2M Reduce -1.8%
NLS PHARMACEUTICS LTD 0.03% 5,747,126 $1.0M No change
ASLAN PHARMACEUTICALS LTD 0.02% 1,049,999 $646K No change
CRVS Corvus Pharmaceuticals Inc. 0.02% 361,406 $643K Reduce -73.6%
RZLT Rezolute Inc. 0.01% 190,815 $487K No change

Portfolio Sells Q4 2023 → Q1 2024
AXSM Axsome Therapeutics Inc. Sold out 0.00% −3.95
CNTA Centessa Pharmaceuticals Ltd. Sold out 0.00% −1.75
RLAY Relay Therapeutics Inc. Sold out 0.00% −1.09
XENE Xenon Pharmaceuticals Inc. Sold out 0.00% −1.03
LXRX Lexicon Pharmaceuticals Inc. Reduce -93.1% 0.11% −0.82
ANTX AN2 Therapeutics Inc. Reduce -20.8% 0.11% −0.69
SLN Silence Therapeutics PLC-ADR Sold out 0.00% −0.66
MRUS Merus NV Reduce -57.4% 1.45% −0.44
SYRE Spyre Therapeutics Inc. Sold out 0.00% −0.37
STRO Sutro Biopharma Inc. Com SHS Sold out 0.00% −0.36
ITOS Iteos Therapeutics Inc. Sold out 0.00% −0.35
IMVT Immunovant Inc. Sold out 0.00% −0.32
PTGX Protagonist Therapeutics Inc. Reduce -34.6% 2.99% −0.31
LKFT Lakefront Biotherapeutic-ADR Reduce -2.7% 1.65% −0.30
OVID Ovid Therapeutics Inc. Reduce -43.8% 0.32% −0.23
IDYA Ideaya Biosciences Inc. Reduce -32.8% 1.40% −0.14
RAIN ONCOLOGY INC Sold out 0.00% −0.11
CRVS Corvus Pharmaceuticals Inc. Reduce -73.6% 0.02% −0.04
MTEMQ Molecular Templates Inc. Reduce -1.8% 0.03% −0.02
KURA Kura Oncology Inc. Reduce -35.1% 2.81% +0.15
FDMT 4D Molecular Therapeutics Inc. Reduce -2.1% 3.44% +1.40
JANX Janux Therapeutics Inc. Reduce -36.3% 3.02% +1.79

Portfolio Buys Q4 2023 → Q1 2024
CGON CG Oncology Inc. New 2.27% +2.27
TYRA Tyra Biosciences Inc. Add +70.1% 2.10% +1.15
IMUX Immunic Inc. New 0.32% +0.32
UNICYCIVE THERAPEUTICS INC Add +70.5% 0.14% +0.09
DCTH Delcath Systems Inc. Add +23.1% 0.16% +0.06
ALLK Allakos LLC Add +93.5% 0.57% −0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 43$3.9BRVMD, KYMR, XOMA, MLTX, GHRS
Q1 2026 41$3.1BKYMR, MLTX, RVMD, NKTR, GPCR
Q4 2025 41$3.0BKYMR, RVMD, MLTX, GPCR, OLMA
Q3 2025 46$2.5BKYMR, RVMD, PTGX, MLTX, CDTX
Q2 2025 44$2.8BMLTX, KYMR, RVMD, PTGX, AXSM
Q1 2025 51$2.5BMLTX, AXSM, RVMD, KYMR, MIRM
Q4 2024 53$3.0BMLTX, KYMR, RVMD, AXSM, MIRM
Q3 2024 55$3.4BMLTX, KYMR, RVMD, MIRM, TYRA
Q2 2024 60$3.6BMLTX, RVMD, KYMR, IONS, MIRM
Q1 2024 62$3.6BMLTX, KYMR, RVMD, FDMT, GHRS