Ikarian Capital, LLC
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Ikarian Capital, LLC reported 126 stock positions worth $610.9 million. Its top holding was Abivax SA-ADR (ABVX) at 7.1% of the portfolio, followed by Kodiak Sciences (KOD, 6.8%) and Alumis (ALMS, 4.0%). Compared with Q1 2026, it opened 26 new positions, sold out of 27, added to 18 and reduced 29. The biggest buy was Abivax SA-ADR (ABVX, shares +470%) and the biggest sale an exit from Terns Pharmaceuticals (TERN).
- Most Recent 13F
- Q2 2026
- Location
- DALLAS, TX
- CIK
- 0001778253
- Portfolio Value
- $610.9M (Q2 2026)
- SEC Filing
- 0001420506-26-001820 ↗ filed Aug 14, 2026
Holdings Value
Holdings 126 stocks · $610.9M
| ABVX Abivax SA-ADR | 7.10% | 328,635 | $43.4M | Add +470.2% |
| KOD Kodiak Sciences Inc. | 6.76% | 1,059,730 | $41.3M | Reduce -16.3% |
| ALMS Alumis Inc. | 4.01% | 870,548 | $24.5M | Reduce -28.3% |
| PRAX Praxis Precision Medicines I | 3.99% | 72,842 | $24.4M | Add +1.8% |
| PCVX Vaxcyte Inc. | 3.70% | 388,682 | $22.6M | Reduce -9.3% |
| ANIP Ani Pharmaceuticals Inc. | 3.69% | 272,085 | $22.5M | Add +85.0% |
| CLDX Celldex Therapeutics Inc. | 2.91% | 478,500 | $17.8M | Add +3.7% |
| RCUS Arcus Biosciences Inc. | 2.55% | 504,559 | $15.6M | New |
| RLMD Relmada Therapeutics Inc. | 2.43% | 2,148,359 | $14.9M | Reduce -20.1% |
| CAPR Capricor Therapeutics Inc. | 2.38% | 604,215 | $14.5M | Add +14.4% |
| COGT Cogent Biosciences Inc. | 2.34% | 370,084 | $14.3M | New |
| VERA Vera Therapeutics Inc. | 2.18% | 310,000 | $13.3M | Add +55.0% |
| CTNM Contineum Therapeutics Inc. Class A | 2.17% | 807,874 | $13.2M | No change |
| TENX Tenax Therapeutics Inc. | 1.88% | 787,600 | $11.5M | Reduce -22.6% |
| CCCC C4 Therapeutics Inc. | 1.86% | 2,433,000 | $11.4M | New |
| MAZE Maze Therapeutics Inc. | 1.85% | 378,999 | $11.3M | No change |
| BHVN Biohaven Ltd. | 1.82% | 748,181 | $11.1M | Add +81.4% |
| CNTB Connect Biopharma Holdings L | 1.77% | 4,538,534 | $10.8M | Reduce -15.8% |
| ANRO Alto Neuroscience Inc. | 1.76% | 407,338 | $10.7M | Reduce -20.9% |
| PHVS Pharvaris NV | 1.75% | 308,856 | $10.7M | Reduce -36.6% |
| JBIO Jade Biosciences Inc. | 1.55% | 427,349 | $9.5M | Reduce -16.6% |
| DMRA Damora Therapeutics Inc. | 1.43% | 335,710 | $8.7M | No change |
| VRDN Viridian Therapeutics Inc. | 1.28% | 425,000 | $7.8M | New |
| PTHS Pelthos Therapeutics Inc. | 1.19% | 256,598 | $7.3M | No change |
| ZURA Zura Bio Ltd. | 1.18% | 1,218,492 | $7.2M | Add +2.1% |
| TECX Tectonic Therapeutic Inc. | 1.16% | 205,837 | $7.1M | Add +30.7% |
| SPRB Spruce Biosciences Inc. | 1.07% | 121,356 | $6.6M | No change |
| HIMS Hims & Hers Health Inc. | 1.07% | 188,381 | $6.5M | New |
| ELVN Enliven Therapeutics Inc. | 1.05% | 126,541 | $6.4M | New |
| PRQR Proqr Therapeutics NV | 1.04% | 3,425,930 | $6.4M | Add +129.6% |
| DRUG Bright Minds Biosciences Inc. | 1.02% | 88,951 | $6.2M | Reduce -46.6% |
| OVID Ovid Therapeutics Inc. | 1.00% | 2,269,704 | $6.1M | Reduce -21.6% |
| OCGN Ocugen Inc. | 0.99% | 3,962,972 | $6.1M | No change |
| ACOG Alpha Cognition Inc. | 0.99% | 836,259 | $6.0M | Reduce -20.8% |
| HROW Harrow Inc. | 0.94% | 135,775 | $5.8M | Reduce -75.0% |
| KZIA Kazia Therapeutics-Spon ADR | 0.91% | 396,201 | $5.6M | New |
| RARE Ultragenyx Pharmaceutical Inc. | 0.91% | 165,617 | $5.5M | Reduce -65.7% |
| QTTB Q32 Bio Inc. | 0.90% | 430,000 | $5.5M | New |
| EPRX Eupraxia Pharmaceuticals Inc. | 0.88% | 809,741 | $5.4M | Reduce -33.3% |
| BIOA Bioage Labs Inc. | 0.80% | 200,000 | $4.9M | New |
| RZLT Rezolute Inc. | 0.80% | 935,012 | $4.9M | Add +5574.0% |
| OLMA Olema Pharmaceuticals Inc. | 0.78% | 383,281 | $4.8M | Reduce -35.9% |
| MNPR Monopar Therapeutics Inc. | 0.73% | 47,861 | $4.4M | New |
| BBIO Bridgebio Pharma Inc. | 0.70% | 57,417 | $4.3M | Reduce -64.1% |
| IVA Inventiva SA - ADR | 0.68% | 1,129,101 | $4.2M | Reduce -21.0% |
| ABSI Absci Corp. | 0.67% | 353,772 | $4.1M | New |
| ALEC Alector Inc. | 0.65% | 1,982,606 | $4.0M | Reduce -4.8% |
| CLYM Climb Bio Inc. | 0.64% | 300,000 | $3.9M | New |
| FULC Fulcrum Therapeutics Inc. | 0.63% | 1,049,161 | $3.8M | No change |
| CRDL Cardiol Therapeutics Inc. Class A | 0.58% | 3,325,000 | $3.5M | Add +22.0% |
| CUE Cue Biopharma Inc. | 0.54% | 104,364 | $3.3M | New |
| CPIX Cumberland Pharmaceuticals | 0.53% | 503,153 | $3.3M | Reduce -9.0% |
| ARWR Arrowhead Pharmaceuticals Inc. | 0.51% | 38,278 | $3.1M | New |
| RNTX Rein Therapeutics Inc. | 0.50% | 2,950,000 | $3.1M | New |
| ARVN Arvinas Inc. | 0.49% | 358,257 | $3.0M | No change |
| ABOS Acumen Pharmaceuticals Inc. | 0.46% | 1,053,797 | $2.8M | No change |
| PMN Promis Neurosciences Inc. | 0.44% | 205,000 | $2.7M | Add +272.7% |
| ANNX Annexon Inc. | 0.40% | 430,244 | $2.5M | Reduce -25.9% |
| LXEO Lexeo Therapeutics Inc. | 0.39% | 513,011 | $2.4M | No change |
| DCTH Delcath Systems Inc. | 0.38% | 185,667 | $2.3M | Reduce -57.0% |
| IVVD Invivyd Inc. | 0.38% | 2,656,570 | $2.3M | No change |
| CABA Cabaletta Bio Inc. | 0.36% | 700,000 | $2.2M | Reduce -22.2% |
| NMRA Neumora Therapeutics Inc. | 0.36% | 1,278,408 | $2.2M | No change |
| AMLX Amylyx Pharmaceuticals Inc. | 0.35% | 117,500 | $2.1M | New |
| TARS Tarsus Pharmaceuticals Inc. | 0.32% | 31,166 | $2.0M | No change |
| SLN Silence Therapeutics PLC-ADR | 0.30% | 830,784 | $1.8M | Reduce -4.0% |
| DERM Journey Medical Corp. | 0.29% | 251,436 | $1.8M | No change |
| DBVT DBV Technologies SA-Spon ADR | 0.28% | 525,000 | $1.7M | No change |
| IBIO Ibio Inc. | 0.27% | 957,062 | $1.7M | No change |
| AVTX Avalo Therapeutics Inc. | 0.27% | 90,183 | $1.7M | New |
| AVR Anteris Technologies Global | 0.27% | 166,571 | $1.6M | Reduce -54.6% |
| PALI Palisade Bio Inc. | 0.26% | 750,000 | $1.6M | Add +172.8% |
| AMAN Amanat Acquisition Corp. Class A | 0.25% | 150,000 | $1.5M | New |
| KLRS Kalaris Therapeutics Inc. | 0.24% | 360,000 | $1.5M | No change |
| QNCX Quince Therapeutics Inc. | 0.22% | 72,251 | $1.3M | New |
| LPCN Lipocine Inc. | 0.21% | 508,556 | $1.3M | No change |
| IMNM Immunome Inc. | 0.21% | 60,000 | $1.3M | New |
| PLRX Pliant Therapeutics Inc. | 0.19% | 1,000,000 | $1.1M | New |
| IMUX Immunic Inc. | 0.17% | 67,464 | $1.0M | No change |
| QNRX Quoin Pharmaceuticals LT-ADR | 0.17% | 211,538 | $1.0M | No change |
| EQ Equillium Inc. | 0.16% | 303,555 | $971K | No change |
| STIM Neuronetics Inc. | 0.15% | 701,182 | $912K | No change |
| FTH Faeth Therapeutics Inc. | 0.14% | 35,386 | $885K | Add +457.2% |
| GUTS Fractyl Health Inc. | 0.14% | 1,100,000 | $874K | No change |
| HELP Cybin Inc. | 0.14% | 132,153 | $874K | No change |
| TRAX First Tracks Biotherapeutics | 0.14% | 42,775 | $861K | New |
| VSTM Verastem Inc. | 0.13% | 213,865 | $817K | No change |
| LABD Dire DLY SP BT Be 3X ETF-Usd | 0.13% | 105,822 | $816K | No change |
| PEPG Pepgen Inc. | 0.13% | 447,165 | $805K | No change |
| ACAD Acadia Pharmaceuticals Inc. | 0.12% | 28,099 | $711K | No change |
| CNSP CNS Pharmaceuticals Inc. | 0.11% | 135,830 | $649K | Add +196.4% |
| LYEL Lyell Immunopharma Inc. | 0.09% | 41,081 | $577K | No change |
| WVE Wave Life Sciences Ltd. | 0.08% | 85,285 | $496K | No change |
| IMTX Immatics NV | 0.08% | 48,569 | $492K | No change |
| PASG Passage Bio Inc. | 0.08% | 99,517 | $486K | Add +46.1% |
| NXTC Nextcure Inc. | 0.08% | 288,303 | $461K | Add +21.0% |
| FBRX Forte Biosciences Inc. | 0.07% | 20,972 | $446K | Reduce -82.4% |
| SLDB Solid Biosciences Inc. | 0.07% | 42,956 | $429K | Reduce -83.8% |
| TRAW Traws Pharma Inc. | 0.07% | 478,142 | $403K | Reduce -29.5% |
| LXRX Lexicon Pharmaceuticals Inc. | 0.06% | 164,674 | $395K | No change |
| ELTX Elicio Therapeutics Inc. | 0.06% | 100,000 | $391K | New |
| ANL Adlai Nortye Group Ltd. | 0.06% | 33,899 | $390K | No change |
| INM Inmed Pharmaceuticals Inc. | 0.06% | 245,025 | $380K | New |
| VKTX Viking Therapeutics Inc. | 0.06% | 9,717 | $379K | No change |
| MGNX Macrogenics Inc. | 0.06% | 74,893 | $346K | No change |
| PURR Hyperliquid Strategies | 0.04% | 30,001 | $236K | No change |
| EVAX Evaxion A/S | 0.04% | 74,698 | $232K | No change |
| RNAC Cartesian Therapeutics Inc. | 0.04% | 20,807 | $217K | No change |
| CMPS Compass Pathways PLC | 0.03% | 15,000 | $212K | Reduce -97.8% |
| NEUP Neuphoria Therapeutics Inc. | 0.03% | 47,443 | $207K | No change |
| VYGR Voyager Therapeutics Inc. | 0.03% | 53,063 | $186K | No change |
| VYNE THERAPEUTICS INC | 0.03% | 264,912 | $172K | No change |
| BCRX Biocryst Pharmaceuticals Inc. | 0.03% | 16,756 | $168K | New |
| ENVB Enveric Biosciences Inc. | 0.02% | 100,002 | $138K | New |
| PMVP PMV Pharmaceuticals Inc. | 0.02% | 89,136 | $119K | No change |
| VTGN Vistagen Therapeutics Inc. | 0.02% | 519,077 | $117K | No change |
| CMMB Chemomab Therapeutics Ltd. | 0.01% | 51,793 | $84K | No change |
| NYXH Nyxoah SA | 0.01% | 47,358 | $80K | No change |
| AIRS Airsculpt Technologies Inc. | 0.01% | 16,398 | $74K | No change |
| MGRX Mangoceuticals Inc. | 0.01% | 138,146 | $52K | No change |
| CMPX Compass Therapeutics Inc. | 0.01% | 18,000 | $39K | No change |
| TOVX Theriva Biologics Inc. | 0.00% | 112,076 | $28K | No change |
| GCTK Glucotrack Inc. | 0.00% | 45,830 | $15K | No change |
| AETHLON MED INC | 0.00% | 14,364 | $12K | No change |
| JSPR Jasper Therapeutics Inc. | 0.00% | 24,093 | $10K | No change |
| BIOMX INC | 0.00% | 19,473 | $7K | No change |
Options reported separately and not counted above: XBI puts ($47.5M), ABVX calls ($45.5M), ABVX puts ($33.3M), IONS calls ($31.7M), MRNA puts ($28.0M), IONS puts ($23.8M), NEWAMSTERDAM PHARMA COMPANY puts ($13.6M), ALMS calls ($10.0M), KOD calls ($8.5M), CAPR calls ($8.4M), ARWR puts ($8.2M), PRAX calls ($6.7M), and 18 more.
Portfolio Sells Q1 2026 → Q2 2026
| TERN Terns Pharmaceuticals Inc. | Sold out | 0.00% | −10.98 |
| CYTK Cytokinetics Inc. | Sold out | 0.00% | −2.67 |
| RVMD Revolution Medicines Inc. | Sold out | 0.00% | −2.27 |
| HROW Harrow Inc. | Reduce -75.0% | 0.94% | −1.80 |
| ORKA Oruka Therapeutics Inc. | Sold out | 0.00% | −1.70 |
| SLNO Soleno Therapeutics Inc. | Sold out | 0.00% | −1.65 |
| IONS Ionis Pharmaceuticals Inc. | Sold out | 0.00% | −1.36 |
| PVLA Palvella Therapeutics Inc. | Sold out | 0.00% | −1.15 |
| BBIO Bridgebio Pharma Inc. | Reduce -64.1% | 0.70% | −1.00 |
| LLY Eli Lilly & Co. | Sold out | 0.00% | −0.86 |
| SRZN Surrozen Inc. | Sold out | 0.00% | −0.72 |
| DRUG Bright Minds Biosciences Inc. | Reduce -46.6% | 1.02% | −0.72 |
| LEGN Legend Biotech Corp.-ADR | Sold out | 0.00% | −0.59 |
| KPTI Karyopharm Therapeutics Inc. | Sold out | 0.00% | −0.58 |
| RARE Ultragenyx Pharmaceutical Inc. | Reduce -65.7% | 0.91% | −0.54 |
| CMPS Compass Pathways PLC | Reduce -97.8% | 0.03% | −0.50 |
| OLMA Olema Pharmaceuticals Inc. | Reduce -35.9% | 0.78% | −0.49 |
| TENX Tenax Therapeutics Inc. | Reduce -22.6% | 1.88% | −0.45 |
| IVA Inventiva SA - ADR | Reduce -21.0% | 0.68% | −0.44 |
| EPRX Eupraxia Pharmaceuticals Inc. | Reduce -33.3% | 0.88% | −0.38 |
| FRNM Freenome Inc. | Sold out | 0.00% | −0.38 |
| VIR Vir Biotechnology Inc. | Sold out | 0.00% | −0.38 |
| FBRX Forte Biosciences Inc. | Reduce -82.4% | 0.07% | −0.37 |
| BBOT Bridgebio Oncology Therapeut | Sold out | 0.00% | −0.35 |
| NUVL Nuvalent Inc. Class A | Sold out | 0.00% | −0.35 |
| JAZZ Jazz Pharmaceuticals PLC | Sold out | 0.00% | −0.34 |
| RLMD Relmada Therapeutics Inc. | Reduce -20.1% | 2.43% | −0.24 |
| PHVS Pharvaris NV | Reduce -36.6% | 1.75% | −0.22 |
| QURE Uniqure NV | Sold out | 0.00% | −0.21 |
| SLDB Solid Biosciences Inc. | Reduce -83.8% | 0.07% | −0.20 |
| DCTH Delcath Systems Inc. | Reduce -57.0% | 0.38% | −0.19 |
| DFTX Definium Therapeutics Inc. | Sold out | 0.00% | −0.16 |
| KOD Kodiak Sciences Inc. | Reduce -16.3% | 6.76% | −0.14 |
| TRAW Traws Pharma Inc. | Reduce -29.5% | 0.07% | −0.11 |
| KZR Kezar Life Sciences Inc. | Sold out | 0.00% | −0.11 |
| CNTB Connect Biopharma Holdings L | Reduce -15.8% | 1.77% | −0.11 |
| CNTA Centessa Pharmaceuticals Ltd. | Sold out | 0.00% | −0.10 |
| KALV Kalvista Pharmaceuticals Inc. | Sold out | 0.00% | −0.10 |
| INSM Insmed Inc. | Sold out | 0.00% | −0.10 |
| ANNX Annexon Inc. | Reduce -25.9% | 0.40% | −0.06 |
| SGMOQ Sangamo Therapeutics Inc. | Sold out | 0.00% | −0.04 |
| VERU Veru Inc. | Sold out | 0.00% | −0.04 |
| AVR Anteris Technologies Global | Reduce -54.6% | 0.27% | −0.02 |
| IOBTQ Io Biotech Inc. | Sold out | 0.00% | −0.01 |
| SHUTTLE PHARMACTCLS HLDGS IN | Sold out | 0.00% | −0.01 |
| AUTONOMIX MED INC | Sold out | 0.00% | −0.00 |
| CABA Cabaletta Bio Inc. | Reduce -22.2% | 0.36% | +0.01 |
| ALEC Alector Inc. | Reduce -4.8% | 0.65% | +0.01 |
| SLN Silence Therapeutics PLC-ADR | Reduce -4.0% | 0.30% | +0.05 |
| OVID Ovid Therapeutics Inc. | Reduce -21.6% | 1.00% | +0.08 |
Portfolio Buys Q1 2026 → Q2 2026
| ABVX Abivax SA-ADR | Add +470.2% | 7.10% | +6.21 |
| RCUS Arcus Biosciences Inc. | New | 2.55% | +2.55 |
| COGT Cogent Biosciences Inc. | New | 2.34% | +2.34 |
| ANIP Ani Pharmaceuticals Inc. | Add +85.0% | 3.69% | +2.07 |
| CCCC C4 Therapeutics Inc. | New | 1.86% | +1.86 |
| BHVN Biohaven Ltd. | Add +81.4% | 1.82% | +1.32 |
| VRDN Viridian Therapeutics Inc. | New | 1.28% | +1.28 |
| HIMS Hims & Hers Health Inc. | New | 1.07% | +1.07 |
| ELVN Enliven Therapeutics Inc. | New | 1.05% | +1.05 |
| VERA Vera Therapeutics Inc. | Add +55.0% | 2.18% | +1.03 |
| KZIA Kazia Therapeutics-Spon ADR | New | 0.91% | +0.91 |
| QTTB Q32 Bio Inc. | New | 0.90% | +0.90 |
| CLDX Celldex Therapeutics Inc. | Add +3.7% | 2.91% | +0.82 |
| BIOA Bioage Labs Inc. | New | 0.80% | +0.80 |
| RZLT Rezolute Inc. | Add +5574.0% | 0.80% | +0.79 |
| MNPR Monopar Therapeutics Inc. | New | 0.73% | +0.73 |
| PRQR Proqr Therapeutics NV | Add +129.6% | 1.04% | +0.70 |
| PRAX Praxis Precision Medicines I | Add +1.8% | 3.99% | +0.69 |
| ABSI Absci Corp. | New | 0.67% | +0.67 |
| CLYM Climb Bio Inc. | New | 0.64% | +0.64 |
| CUE Cue Biopharma Inc. | New | 0.54% | +0.54 |
| ARWR Arrowhead Pharmaceuticals Inc. | New | 0.51% | +0.51 |
| RNTX Rein Therapeutics Inc. | New | 0.50% | +0.50 |
| TECX Tectonic Therapeutic Inc. | Add +30.7% | 1.16% | +0.46 |
| AMLX Amylyx Pharmaceuticals Inc. | New | 0.35% | +0.35 |
| PMN Promis Neurosciences Inc. | Add +272.7% | 0.44% | +0.34 |
| AVTX Avalo Therapeutics Inc. | New | 0.27% | +0.27 |
| AMAN Amanat Acquisition Corp. Class A | New | 0.25% | +0.25 |
| QNCX Quince Therapeutics Inc. | New | 0.22% | +0.22 |
| IMNM Immunome Inc. | New | 0.21% | +0.21 |
| PALI Palisade Bio Inc. | Add +172.8% | 0.26% | +0.19 |
| PLRX Pliant Therapeutics Inc. | New | 0.19% | +0.19 |
| ZURA Zura Bio Ltd. | Add +2.1% | 1.18% | +0.16 |
| TRAX First Tracks Biotherapeutics | New | 0.14% | +0.14 |
| FTH Faeth Therapeutics Inc. | Add +457.2% | 0.14% | +0.12 |
| CNSP CNS Pharmaceuticals Inc. | Add +196.4% | 0.11% | +0.09 |
| CAPR Capricor Therapeutics Inc. | Add +14.4% | 2.38% | +0.09 |
| ELTX Elicio Therapeutics Inc. | New | 0.06% | +0.06 |
| INM Inmed Pharmaceuticals Inc. | New | 0.06% | +0.06 |
| CRDL Cardiol Therapeutics Inc. Class A | Add +22.0% | 0.58% | +0.05 |
| BCRX Biocryst Pharmaceuticals Inc. | New | 0.03% | +0.03 |
| ENVB Enveric Biosciences Inc. | New | 0.02% | +0.02 |
| PASG Passage Bio Inc. | Add +46.1% | 0.08% | +0.00 |
| NXTC Nextcure Inc. | Add +21.0% | 0.08% | −0.28 |
Options Activity Q1 2026 → Q2 2026
| TERN Terns Pharmaceuticals Inc. | put | Sold out | 1,200,000 | $63.3Mbefore exit |
| QQQ Invesco QQQ Trust Series 1 | put | Sold out | 100,000 | $57.7Mbefore exit |
| IWM iShares Russell 2000 ETF | put | Sold out | 200,000 | $49.6Mbefore exit |
| XBI SS SPDR S&P Biotech ETF | put | Reduce -62.5% | 300,000 | $47.5M |
| ABVX Abivax SA-ADR | call | Add +16.3% | 341,100 | $45.5M |
| CYTK Cytokinetics Inc. | put | Sold out | 550,500 | $36.3Mbefore exit |
| ABVX Abivax SA-ADR | put | New | 250,000 | $33.3M |
| IONS Ionis Pharmaceuticals Inc. | call | Add +256.8% | 400,000 | $31.7M |
| MRNA Moderna Inc. | put | New | 400,000 | $28.0M |
| CYTK Cytokinetics Inc. | call | Sold out | 408,400 | $26.9Mbefore exit |
| IONS Ionis Pharmaceuticals Inc. | put | New | 300,000 | $23.8M |
| NVO Novo-Nordisk A/S-Spons ADR | call | Sold out | 400,000 | $14.7Mbefore exit |
| NEWAMSTERDAM PHARMA COMPANY | put | New | 400,000 | $13.6M |
| ANIP Ani Pharmaceuticals Inc. | call | Sold out | 150,000 | $11.5Mbefore exit |
| ALMS Alumis Inc. | call | Add +34.7% | 356,300 | $10.0M |
| RVMD Revolution Medicines Inc. | put | Sold out | 95,000 | $9.2Mbefore exit |
| KOD Kodiak Sciences Inc. | call | Add +117.7% | 217,700 | $8.5M |
| ARWR Arrowhead Pharmaceuticals Inc. | put | Add +73.9% | 100,000 | $8.2M |
| PRAX Praxis Precision Medicines I | call | New | 20,000 | $6.7M |
| AVTX Avalo Therapeutics Inc. | call | Sold out | 401,500 | $6.0Mbefore exit |
| TENX Tenax Therapeutics Inc. | call | Add +226.4% | 373,100 | $5.4M |
| SLS Sellas Life Sciences Group I | put | New | 354,700 | $5.2M |
| KPTI Karyopharm Therapeutics Inc. | call | Sold out | 920,000 | $5.1Mbefore exit |
| KPTI Karyopharm Therapeutics Inc. | put | Sold out | 920,000 | $5.1Mbefore exit |
| SION Sionna Therapeutics Inc. | put | New | 107,500 | $4.7M |
| BBIO Bridgebio Pharma Inc. | call | Sold out | 58,500 | $4.3Mbefore exit |
| ELVN Enliven Therapeutics Inc. | put | Sold out | 83,700 | $3.3Mbefore exit |
| QTTB Q32 Bio Inc. | put | New | 200,000 | $2.5M |
| OLMA Olema Pharmaceuticals Inc. | call | Reduce -63.6% | 200,000 | $2.5M |
| BMY Bristol-Myers Squibb Co. | put | Reduce -91.5% | 42,500 | $2.4M |
| AVTX Avalo Therapeutics Inc. | put | Sold out | 158,500 | $2.4Mbefore exit |
| REPL Replimune Group Inc. | put | Sold out | 300,000 | $2.3Mbefore exit |
| UNIQURE NV | call | Reduce -86.0% | 49,800 | $2.3M |
| IRON Disc Medicine Inc. | put | New | 13,300 | $973K |
| IRON Disc Medicine Inc. | call | New | 13,300 | $973K |
| PEPG Pepgen Inc. | call | Sold out | 300,000 | $531Kbefore exit |
| MAZE Maze Therapeutics Inc. | put | Sold out | 14,400 | $430Kbefore exit |
| ELTX Elicio Therapeutics Inc. | call | New | 107,100 | $419K |
| ELTX Elicio Therapeutics Inc. | put | New | 107,100 | $419K |
| CNTB Connect Biopharma Holdings L | call | Sold out | 144,600 | $379Kbefore exit |
| PRAX Praxis Precision Medicines I | put | New | 900 | $301K |
| TENX Tenax Therapeutics Inc. | put | New | 16,500 | $240K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 126 | $610.9M | ABVX, KOD, ALMS, PRAX, PCVX |
| Q1 2026 | 127 | $699.0M | TERN, KOD, ALMS, PCVX, PRAX |
| Q4 2025 | 135 | $772.6M | TERN, CDTX, ABVX, JAZZ, MAZE |
| Q3 2025 | 116 | $494.3M | GMAB, ABVX, IONS, CDTX, MAZE |
| Q2 2025 | 103 | $302.2M | CDTX, ALNY, INSM, VRNA, CRNX |
| Q1 2025 | 116 | $306.9M | TARS, CRNX, SPY, SRPT, BPMC |
| Q4 2024 | 122 | $350.2M | TARS, CRNX, SRRK, BPMC, FBRX |
| Q3 2024 | 96 | $322.0M | TARS, CRNX, ELVN, RCUS, VRDN |
| Q2 2024 | 85 | $320.5M | SRPT, CRNX, TARS, SLNO, CRBP |
| Q1 2024Amended | 82 | $367.7M | CRNX, TARS, SLNO, CRBP, SRPT |