DAFNA Capital Management LLC

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), DAFNA Capital Management LLC reported 83 stock positions worth $418.6 million. Its top holding was SS SPDR S&P Biotech ETF (XBI) at 9.5% of the portfolio, followed by Stereotaxis (STXS, 6.7%) and Revolution Medicines (RVMD, 5.6%). Compared with Q2 2024, it opened 6 new positions, sold out of 5, added to 19 and reduced 26. The biggest buy was Revolution Medicines (RVMD, shares +1%) and the biggest sale an exit from Morphic (MORF).

Most Recent 13F
Q2 2026
Location
LOS ANGELES, CA
CIK
0001389933
Portfolio Value
$418.6M (Q3 2024)
SEC Filing
0001389932-24-000020 ↗ filed Nov 14, 2024

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $434.7M Q1 2024 Q2 2024: $414.1M Q2 2024 Q3 2024: $418.6M $418.6M Q3 2024 Q4 2024: $389.0M Q4 2024 Q1 2025: $348.0M Q1 2025 Q2 2025: $357.2M Q2 2025 Q3 2025: $399.3M Q3 2025 Q4 2025: $425.1M Q4 2025 Q1 2026: $433.7M Q1 2026 Q2 2026: $524.4M Q2 2026

Holdings 83 stocks · $418.6M
XBI SS SPDR S&P Biotech ETF 9.48% 401,505 $39.7M Reduce -9.8%
STXS Stereotaxis Inc. 6.67% 13,680,554 $27.9M No change
RVMD Revolution Medicines Inc. 5.61% 517,994 $23.5M Add +1.2%
CYTK Cytokinetics Inc. 5.02% 398,100 $21.0M No change
MRUS Merus NV 4.92% 412,573 $20.6M Add +0.8%
ATRC Atricure Inc. 4.30% 641,673 $18.0M Add +0.4%
IDYA Ideaya Biosciences Inc. 3.57% 471,410 $14.9M Add +11.7%
IBB iShares Biotechnology ETF 3.56% 102,500 $14.9M No change
ASND Ascendis Pharma A/S 3.19% 89,572 $13.4M Add +10.6%
AXGN Axogen Inc. 3.13% 935,894 $13.1M No change
BPMC Blueprint Medicines Corp. 2.69% 121,763 $11.3M Add +16.2%
XENE Xenon Pharmaceuticals Inc. 2.57% 273,739 $10.8M No change
DAWN Day One Biopharmaceuticals I 2.50% 750,363 $10.5M Add +12.6%
SNDX Syndax Pharmaceuticals Inc. 2.42% 526,702 $10.1M Reduce -19.8%
BHVN Biohaven Ltd. 2.23% 187,130 $9.4M Reduce -14.4%
TNDM Tandem Diabetes Care Inc. 2.07% 204,208 $8.7M No change
KALV Kalvista Pharmaceuticals Inc. 2.00% 723,678 $8.4M Reduce -10.3%
NBIX Neurocrine Biosciences Inc. 1.92% 69,615 $8.0M Reduce -2.8%
KURA Kura Oncology Inc. 1.91% 408,368 $8.0M Reduce -3.6%
VKTX Viking Therapeutics Inc. 1.90% 125,616 $8.0M Reduce -33.6%
EWTX Edgewise Therapeutics Inc. 1.45% 227,906 $6.1M Reduce -21.5%
URGN Urogen Pharma Ltd. 1.39% 458,915 $5.8M Reduce -2.1%
BCRX Biocryst Pharmaceuticals Inc. 1.21% 667,000 $5.1M Reduce -5.3%
DXCM Dexcom Inc. 1.05% 65,552 $4.4M No change
KROS Keros Therapeutics Inc. 1.02% 73,754 $4.3M Add +8.9%
ALEC Alector Inc. 1.02% 912,928 $4.3M No change
RCUS Arcus Biosciences Inc. 0.94% 256,717 $3.9M Add +1.4%
LKFT Lakefront Biotherapeutic-ADR filed as GALAPAGOS NV 0.90% 130,175 $3.7M No change
PODD Insulet Corp. 0.88% 15,900 $3.7M No change
ALKS Alkermes PLC 0.81% 120,700 $3.4M No change
LRMR Larimar Therapeutics Inc. 0.77% 494,274 $3.2M Reduce -22.8%
CATX Perspective Therapeutics Inc. 0.73% 230,322 $3.1M Reduce -0.6%
TSVT 2SEVENTY Bio Inc. 0.71% 630,029 $3.0M Reduce -40.0%
SLRN Acelyrin Inc. 0.71% 602,894 $3.0M Reduce -13.1%
ALLO Allogene Therapeutics Inc. 0.70% 1,050,118 $2.9M Add +73.5%
AQST Aquestive Therapeutics Inc. 0.70% 589,561 $2.9M Add +11.2%
IPSC Century Therapeutics Inc. 0.70% 1,704,232 $2.9M No change
ATXS Astria Therapeutics Inc. 0.67% 254,165 $2.8M Reduce -7.3%
BCYC Bicycle Therapeutics PLC-ADR 0.66% 122,200 $2.8M No change
STOK Stoke Therapeutics Inc. 0.61% 207,427 $2.5M No change
BWAY Brainsway Ltd.-ADR 0.55% 251,346 $2.3M Reduce -15.6%
LXEO Lexeo Therapeutics Inc. 0.54% 250,583 $2.3M New
ARAY Accuray Inc. 0.53% 1,222,358 $2.2M No change
SPRY Ars Pharmaceuticals Inc. 0.51% 148,294 $2.2M Reduce -38.0%
INGN Inogen Inc. 0.48% 208,790 $2.0M No change
CNTA Centessa Pharmaceuticals Ltd. 0.46% 120,351 $1.9M Reduce -2.1%
MLYS Mineralys Therapeutics Inc. 0.42% 146,500 $1.8M Add +23.1%
AUTL Autolus Therapeutics PLC 0.42% 486,667 $1.8M Add +40.4%
IMTX Immatics NV 0.40% 145,000 $1.7M No change
ITOS Iteos Therapeutics Inc. 0.39% 161,584 $1.6M Add +11.9%
PRQR Proqr Therapeutics NV 0.39% 905,582 $1.6M No change
CMPS Compass Pathways PLC 0.37% 243,210 $1.5M No change
GPCR Structure Therapeutics Inc. 0.36% 34,000 $1.5M Add +580.0%
IMVT Immunovant Inc. 0.35% 51,996 $1.5M Add +8.5%
RGLS Regulus Therapeutics Inc. 0.34% 895,200 $1.4M No change
GOSS Gossamer Bio Inc. 0.33% 1,419,262 $1.4M Add +0.7%
LCTX Lineage Cell Therapeutics Inc. 0.29% 1,350,708 $1.2M No change
MDWD Mediwound Ltd. 0.28% 64,479 $1.2M Reduce -48.2%
STRO Sutro Biopharma Inc. Com SHS 0.27% 329,579 $1.1M No change
PYPD Polypid Ltd. 0.25% 308,497 $1.1M Add +66.9%
NYXH Nyxoah SA 0.25% 108,108 $1.0M No change
BNTX Biontech SE-ADR 0.24% 8,500 $1.0M New
ACET Adicet Bio Inc. 0.21% 600,000 $864K No change
CGEN Compugen Ltd. 0.19% 447,202 $809K Reduce -3.3%
ACRV Acrivon Therapeutics Inc. 0.19% 112,414 $787K Reduce -7.4%
SAGE Sage Therapeutics Inc. 0.19% 108,200 $781K Reduce -6.9%
GRAL Grail Inc. 0.16% 48,800 $671K New
ADCT Adc Therapeutics SA 0.15% 204,081 $643K No change
BDTX Black Diamond Therapeutics I 0.13% 125,000 $544K New
TRML Tourmaline Bio Inc. 0.12% 19,110 $491K Reduce -74.8%
BIOMX INC 0.10% 401,136 $409K New
MASI Masimo Corp. 0.10% 3,000 $400K No change
VSTM Verastem Inc. 0.09% 127,700 $382K New
APRE Aprea Therapeutics Inc. 0.09% 137,174 $377K No change
FHTX Foghorn Therapeutics Inc. 0.08% 37,664 $351K Reduce -10.0%
NGNE Neurogene Inc. 0.08% 7,775 $326K Reduce -29.3%
ADAPY Adaptimmune Therapeutics-ADR 0.08% 341,064 $324K No change
ANRO Alto Neuroscience Inc. 0.07% 26,786 $306K Reduce -77.7%
STIM Neuronetics Inc. 0.06% 313,717 $238K No change
CMPX Compass Therapeutics Inc. 0.05% 116,882 $215K No change
NVRO Nevro LLC filed as NEVRO CORP 0.05% 38,000 $212K Add +35.7%
SPRO Spero Therapeutics Inc. 0.04% 125,000 $168K No change
KPTI Karyopharm Therapeutics Inc. 0.04% 192,678 $160K No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $4.7M (not counted above)
SecurityClassShares / PrincipalValueChange
ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) NOTE 2.250% 4/0 · principal 4,000,000$4.7MNo change

Total filed on the 13F, all lines: $423.3M.

Portfolio Sells Q2 2024 → Q3 2024
MORF Morphic Holding Inc. Sold out 0.00% −1.91
SNDX Syndax Pharmaceuticals Inc. Reduce -19.8% 2.42% −0.84
VKTX Viking Therapeutics Inc. Reduce -33.6% 1.90% −0.52
URGN Urogen Pharma Ltd. Reduce -2.1% 1.39% −0.51
XBI SS SPDR S&P Biotech ETF Reduce -9.8% 9.48% −0.49
NBIX Neurocrine Biosciences Inc. Reduce -2.8% 1.92% −0.46
LRMR Larimar Therapeutics Inc. Reduce -22.8% 0.77% −0.35
KALV Kalvista Pharmaceuticals Inc. Reduce -10.3% 2.00% −0.29
TSVT 2SEVENTY Bio Inc. Reduce -40.0% 0.71% −0.27
ANRO Alto Neuroscience Inc. Reduce -77.7% 0.07% −0.24
PRCT Procept Biorobotics Corp. Sold out 0.00% −0.21
KURA Kura Oncology Inc. Reduce -3.6% 1.91% −0.20
MDWD Mediwound Ltd. Reduce -48.2% 0.28% −0.19
SYRS Syros Pharmaceuticals Inc. Sold out 0.00% −0.17
TERN Terns Pharmaceuticals Inc. Sold out 0.00% −0.14
TRML Tourmaline Bio Inc. Reduce -74.8% 0.12% −0.12
SAGE Sage Therapeutics Inc. Reduce -6.9% 0.19% −0.12
ORIC Oric Pharmaceuticals Inc. Sold out 0.00% −0.06
SLRN Acelyrin Inc. Reduce -13.1% 0.71% −0.03
NGNE Neurogene Inc. Reduce -29.3% 0.08% −0.02
CGEN Compugen Ltd. Reduce -3.3% 0.19% +0.01
ACRV Acrivon Therapeutics Inc. Reduce -7.4% 0.19% +0.02
SPRY Ars Pharmaceuticals Inc. Reduce -38.0% 0.51% +0.02
FHTX Foghorn Therapeutics Inc. Reduce -10.0% 0.08% +0.03
ATXS Astria Therapeutics Inc. Reduce -7.3% 0.67% +0.07
BWAY Brainsway Ltd.-ADR Reduce -15.6% 0.55% +0.12
BCRX Biocryst Pharmaceuticals Inc. Reduce -5.3% 1.21% +0.16
CATX Perspective Therapeutics Inc. Reduce -0.6% 0.73% +0.18
EWTX Edgewise Therapeutics Inc. Reduce -21.5% 1.45% +0.19
CNTA Centessa Pharmaceuticals Ltd. Reduce -2.1% 0.46% +0.19
BHVN Biohaven Ltd. Reduce -14.4% 2.23% +0.40

Portfolio Buys Q2 2024 → Q3 2024
RVMD Revolution Medicines Inc. Add +1.2% 5.61% +0.81
ATRC Atricure Inc. Add +0.4% 4.30% +0.78
LXEO Lexeo Therapeutics Inc. New 0.54% +0.54
ASND Ascendis Pharma A/S Add +10.6% 3.19% +0.53
AQST Aquestive Therapeutics Inc. Add +11.2% 0.70% +0.37
ALLO Allogene Therapeutics Inc. Add +73.5% 0.70% +0.36
GPCR Structure Therapeutics Inc. Add +580.0% 0.36% +0.31
DAWN Day One Biopharmaceuticals I Add +12.6% 2.50% +0.28
KROS Keros Therapeutics Inc. Add +8.9% 1.02% +0.28
BNTX Biontech SE-ADR New 0.24% +0.24
GRAL Grail Inc. New 0.16% +0.16
AUTL Autolus Therapeutics PLC Add +40.4% 0.42% +0.13
BDTX Black Diamond Therapeutics I New 0.13% +0.13
BIOMX INC New 0.10% +0.10
VSTM Verastem Inc. New 0.09% +0.09
MLYS Mineralys Therapeutics Inc. Add +23.1% 0.42% +0.09
PYPD Polypid Ltd. Add +66.9% 0.25% +0.06
IMVT Immunovant Inc. Add +8.5% 0.35% +0.05
GOSS Gossamer Bio Inc. Add +0.7% 0.33% +0.03
RCUS Arcus Biosciences Inc. Add +1.4% 0.94% +0.01
NVRO Nevro LLC Add +35.7% 0.05% −0.01
IDYA Ideaya Biosciences Inc. Add +11.7% 3.57% −0.01
BPMC Blueprint Medicines Corp. Add +16.2% 2.69% −0.04
ITOS Iteos Therapeutics Inc. Add +11.9% 0.39% −0.12
MRUS Merus NV Add +0.8% 4.92% −0.93

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 88$524.4MRVMD, XBI, CMPS, STXS, NKTR
Q1 2026 82$433.7MRVMD, XBI, STXS, DAWN, ATRC
Q4 2025 76$425.1MRVMD, XBI, STXS, ATRC, CYTK
Q3 2025 74$399.3MSTXS, XBI, RVMD, CYTK, ATRC
Q2 2025 75$357.2MXBI, STXS, RVMD, BPMC, MRUS
Q1 2025 82$348.0MXBI, STXS, RVMD, MRUS, ATRC
Q4 2024 81$389.0MXBI, STXS, RVMD, ATRC, MRUS
Q3 2024 83$418.6MXBI, STXS, RVMD, CYTK, MRUS
Q2 2024 82$414.1MXBI, STXS, MRUS, CYTK, RVMD
Q1 2024 71$434.7MXBI, STXS, CYTK, IDYA, MRUS