Octagon Capital Advisors LP

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Octagon Capital Advisors LP reported 40 stock positions worth $623.9 million. Its top holding was Apellis Pharmaceuticals (APLS) at 13.9% of the portfolio, followed by Verona Pharma (VRNA, 8.5%) and Structure Therapeutics (GPCR, 8.4%). Compared with Q2 2024, it opened 5 new positions, sold out of 9, added to 9 and reduced 9. The biggest buy was Nuvation Bio (NUVB, shares +2720%) and the biggest sale Dyne Therapeutics (DYN, shares −78%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001839435
Portfolio Value
$623.9M (Q3 2024)
SEC Filing
0001839435-24-000008 ↗ filed Nov 14, 2024

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $822.6M Q1 2024 Q2 2024: $606.1M Q2 2024 Q3 2024: $623.9M $623.9M Q3 2024 Q4 2024: $587.1M Q4 2024 Q1 2025: $460.1M Q1 2025 Q2 2025: $455.3M Q2 2025 Q3 2025: $640.2M Q3 2025 Q4 2025: $798.8M Q4 2025 Q1 2026: $903.6M Q1 2026 Q2 2026: $1.1B Q2 2026

Holdings 40 stocks · $623.9M
APLS Apellis Pharmaceuticals Inc. 13.90% 3,006,980 $86.7M Add +4.4%
VRNA Verona Pharma Ltd. 8.46% 1,835,200 $52.8M Reduce -3.2%
GPCR Structure Therapeutics Inc. 8.43% 1,198,000 $52.6M Add +5.1%
DNTH Dianthus Therapeutics Inc. 7.66% 1,746,667 $47.8M No change
AVBP Arrivent Biopharma Inc. 7.44% 1,976,387 $46.4M Add +9.6%
CNTA Centessa Pharmaceuticals Ltd. 5.16% 2,012,052 $32.2M Reduce -14.2%
INSM Insmed Inc. 5.11% 436,820 $31.9M Reduce -32.8%
NUVB Nuvation Bio Inc. 4.47% 12,171,513 $27.9M Add +2720.1%
CRBP Corbus Pharmaceuticals Holdi 3.69% 1,115,000 $23.0M Add +128.5%
OCUL Ocular Therapeutix Inc. 3.38% 2,425,000 $21.1M No change
VRDN Viridian Therapeutics Inc. 3.17% 870,000 $19.8M Add +40.3%
CATX Perspective Therapeutics Inc. 3.04% 1,422,224 $19.0M Reduce -10.0%
MIND MEDICINE MINDMED INC 2.75% 3,018,000 $17.2M Add +40.2%
COGT Cogent Biosciences Inc. 2.26% 1,305,000 $14.1M New
BBIO Bridgebio Pharma Inc. 2.25% 552,000 $14.1M Reduce -20.0%
PHVS Pharvaris NV 1.84% 620,470 $11.5M New
DYN Dyne Therapeutics Inc. 1.51% 262,726 $9.4M Reduce -77.8%
TSHA Taysha Gene Therapies Inc. 1.47% 4,572,222 $9.2M No change
GOSS Gossamer Bio Inc. 1.45% 9,187,883 $9.1M No change
ALLOVIR INC 1.45% 11,202,000 $9.1M Add +14.3%
EYPT Eyepoint Inc. 1.40% 1,093,503 $8.7M No change
PRAX Praxis Precision Medicines I 1.20% 130,000 $7.5M Reduce -50.0%
MLYS Mineralys Therapeutics Inc. 1.16% 600,000 $7.3M No change
RGLS Regulus Therapeutics Inc. 1.07% 4,263,701 $6.7M No change
VTYX Ventyx Biosciences Inc. 0.84% 2,391,114 $5.2M No change
TNYA Tenaya Therapeutics Inc. 0.80% 2,576,200 $5.0M No change
HELP Cybin Inc. 0.70% 489,596 $4.4M Add +0.7%
RENEO PHARMACEUTICALS INC 0.61% 2,250,000 $3.8M No change
UNICYCIVE THERAPEUTICS INC 0.56% 8,559,000 $3.5M New
PEPG Pepgen Inc. 0.52% 376,117 $3.2M No change
BBOT Bridgebio Oncology Therapeut filed as HELIX ACQUISITION CORP II 0.42% 250,000 $2.6M No change
BDTX Black Diamond Therapeutics I 0.41% 594,000 $2.6M New
ANNX Annexon Inc. 0.38% 400,000 $2.4M No change
MERSANA THERAPEUTICS INC 0.30% 992,000 $1.9M No change
IPSC Century Therapeutics Inc. 0.18% 666,825 $1.1M Reduce -50.0%
AEROVATE THERAPEUTICS INC 0.16% 465,440 $973K No change
AUTL Autolus Therapeutics PLC 0.10% 176,000 $639K No change
NGNE Neurogene Inc. 0.10% 15,000 $629K New
RAPT THERAPEUTICS INC 0.09% 292,000 $587K No change
NKTX Nkarta Inc. 0.09% 120,000 $542K Reduce -50.0%

Options reported separately and not counted above: INSM calls ($18.3M).

Other holdings (1): bonds, preferreds, convertibles and warrants · $715K (not counted above)
SecurityClassShares / PrincipalValueChange
NUVB.WS Nuvation Bio Inc. -CW27 *W EXP 02/10/202 312,336$715KNew

Total filed on the 13F, all lines: $624.7M.

Portfolio Sells Q2 2024 → Q3 2024
DYN Dyne Therapeutics Inc. Reduce -77.8% 1.51% −5.36
INSM Insmed Inc. Reduce -32.8% 5.11% −2.08
TERN Terns Pharmaceuticals Inc. Sold out 0.00% −1.53
ANTX AN2 Therapeutics Inc. Sold out 0.00% −1.14
AKRO Akero Therapeutics Inc. Sold out 0.00% −1.10
JSPR Jasper Therapeutics Inc. Sold out 0.00% −1.08
BBIO Bridgebio Pharma Inc. Reduce -20.0% 2.25% −0.63
PRAX Praxis Precision Medicines I Reduce -50.0% 1.20% −0.58
SLN Silence Therapeutics PLC-ADR Sold out 0.00% −0.55
IPSC Century Therapeutics Inc. Reduce -50.0% 0.18% −0.38
PSTX Poseida Therapeutics Inc. Sold out 0.00% −0.35
ELEV Elevation Oncology Inc. Sold out 0.00% −0.33
FATE Fate Therapeutics Inc. Sold out 0.00% −0.28
ACET Adicet Bio Inc. Sold out 0.00% −0.15
NKTX Nkarta Inc. Reduce -50.0% 0.09% −0.15
CATX Perspective Therapeutics Inc. Reduce -10.0% 3.04% +0.44
CNTA Centessa Pharmaceuticals Ltd. Reduce -14.2% 5.16% +1.66
VRNA Verona Pharma Ltd. Reduce -3.2% 8.46% +3.94

Portfolio Buys Q2 2024 → Q3 2024
NUVB Nuvation Bio Inc. Add +2720.1% 4.47% +4.26
COGT Cogent Biosciences Inc. New 2.26% +2.26
AVBP Arrivent Biopharma Inc. Add +9.6% 7.44% +1.92
PHVS Pharvaris NV New 1.84% +1.84
VRDN Viridian Therapeutics Inc. Add +40.3% 3.17% +1.84
GPCR Structure Therapeutics Inc. Add +5.1% 8.43% +1.04
UNICYCIVE THERAPEUTICS INC New 0.56% +0.56
BDTX Black Diamond Therapeutics I New 0.41% +0.41
ALLOVIR INC Add +14.3% 1.45% +0.28
MIND MEDICINE MINDMED INC Add +40.2% 2.75% +0.19
NGNE Neurogene Inc. New 0.10% +0.10
CRBP Corbus Pharmaceuticals Holdi Add +128.5% 3.69% +0.04
HELP Cybin Inc. Add +0.7% 0.70% −0.13
APLS Apellis Pharmaceuticals Inc. Add +4.4% 13.90% −4.33

Options Activity Q2 2024 → Q3 2024
APLS Apellis Pharmaceuticals Inc. call Sold out 350,000 $13.4Mbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q2 2024 → Q3 2024
NUVB.WS Nuvation Bio Inc. -CW27 *W EXP 02/10/202 New 312,336 $715K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 26$1.1BDNTH, DFTX, ABVX, COGT, ALMS
Q1 2026 29$903.6MDNTH, COGT, ABVX, ALMS, DFTX
Q4 2025 26$798.8MABVX, DNTH, COGT, TSHA, GOSS
Q3 2025 25$640.2MABVX, DNTH, GOSS, COGT, AVBP
Q2 2025 29$455.3MDNTH, AVBP, VRNA, TSHA, SPRY
Q1 2025Amended 33$460.1MAPLS, DNTH, AVBP, TRVI, CNTA
Q4 2024 30$587.1MAPLS, AVBP, DNTH, CNTA, VRNA
Q3 2024 40$623.9MAPLS, VRNA, GPCR, DNTH, AVBP
Q2 2024 44$606.1MAPLS, DNTH, GPCR, INSM, DYN
Q1 2024 56$822.6MAPLS, ALPN, DNTH, VRNA, DYN