Octagon Capital Advisors LP In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Octagon Capital Advisors LP reported 30 stock positions worth $587.1 million . Its top holding was Apellis Pharmaceuticals (APLS) at 16.3% of the portfolio, followed by Arrivent Biopharma (AVBP, 9.3% ) and Dianthus Therapeutics (DNTH, 7.8% ). Compared with Q3 2024, it opened 7 new positions, sold out of 17, added to 11 and reduced 5. The biggest buy was a new position in Scholar Rock (SRRK) and the biggest sale an exit from Structure Therapeutics (GPCR).
Location NEW YORK, NY
CIK 0001839435
Portfolio Value $587.1M (Q4 2024) Holdings 30 stocks · $587.1M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2024 APLS Apellis Pharmaceuticals Inc. 3,006,980 $96.0M No change AVBP Arrivent Biopharma Inc. 2,059,387 $54.9M Add +4.2% DNTH Dianthus Therapeutics Inc. 2,110,167 $46.0M Add +20.8% CNTA Centessa Pharmaceuticals Ltd. 1,993,052 $33.4M Reduce -0.9% VRNA Verona Pharma Ltd. 571,264 $26.5M Reduce -68.9% NUVB Nuvation Bio Inc. 9,202,907 $24.5M Reduce -24.4% INSM Insmed Inc. 332,000 $22.9M Reduce -24.0% COGT Cogent Biosciences Inc. 2,763,000 $21.6M Add +111.7% SRRK Scholar Rock Holding Corp. 488,000 $21.1M New MIND MEDICINE MINDMED INC 3,018,000 $21.0M No change OCUL Ocular Therapeutix Inc. 2,425,000 $20.7M No change TSHA Taysha Gene Therapies Inc. 10,450,000 $18.1M Add +128.6% VRDN Viridian Therapeutics Inc. 870,000 $16.7M No change GOSS Gossamer Bio Inc. 18,350,000 $16.6M Add +99.7% DYN Dyne Therapeutics Inc. 668,000 $15.7M Add +154.3% PHVS Pharvaris NV 778,000 $14.9M Add +25.4% CRBP Corbus Pharmaceuticals Holdi 1,115,000 $13.2M No change MRUS Merus NV 308,000 $13.0M New ERAS Erasca Inc. 5,136,795 $12.9M New BBIO Bridgebio Pharma Inc. 441,600 $12.1M Reduce -20.0% SNDX Syndax Pharmaceuticals Inc. 904,000 $12.0M New KALV Kalvista Pharmaceuticals Inc. 1,370,000 $11.6M New UNICYCIVE THERAPEUTICS INC 10,000,000 $7.9M Add +16.8% RGLS Regulus Therapeutics Inc. 4,848,802 $7.7M Add +13.7% CATX Perspective Therapeutics Inc. 2,304,752 $7.4M Add +62.0% NGNE Neurogene Inc. 303,000 $6.9M Add +1920.0% ALLOVIR INC 11,215,000 $4.7M New ATYR Atyr Pharma Inc. 900,000 $3.3M New BBOT Bridgebio Oncology Therapeut filed as HELIX ACQUISITION CORP II 250,000 $2.6M No change MERSANA THERAPEUTICS INC 992,000 $1.4M No change
Options reported separately and not counted above: INSM calls ($17.3M), CNTA puts ($2.5M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $831K (not counted above) Security Class Shares / Principal Value Change NUVB.WS Nuvation Bio Inc. -CW27 *W EXP 02/10/202 312,336 $831K No change
Total filed on the 13F, all lines: $587.9M.
Portfolio Sells Q3 2024 → Q4 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▲ GPCR Structure Therapeutics Inc. Sold out 0.00% −8.43 VRNA Verona Pharma Ltd. Reduce -68.9% 4.52% −3.94 ALLOVIR INC Sold out 0.00% −1.45 EYPT Eyepoint Inc. Sold out 0.00% −1.40 INSM Insmed Inc. Reduce -24.0% 3.90% −1.21 PRAX Praxis Precision Medicines I Sold out 0.00% −1.20 MLYS Mineralys Therapeutics Inc. Sold out 0.00% −1.16 VTYX Ventyx Biosciences Inc. Sold out 0.00% −0.84 TNYA Tenaya Therapeutics Inc. Sold out 0.00% −0.80 HELP Cybin Inc. Sold out 0.00% −0.70 RENEO PHARMACEUTICALS INC Sold out 0.00% −0.61 PEPG Pepgen Inc. Sold out 0.00% −0.52 BDTX Black Diamond Therapeutics I Sold out 0.00% −0.41 ANNX Annexon Inc. Sold out 0.00% −0.38 NUVB Nuvation Bio Inc. Reduce -24.4% 4.17% −0.30 BBIO Bridgebio Pharma Inc. Reduce -20.0% 2.06% −0.19 IPSC Century Therapeutics Inc. Sold out 0.00% −0.18 AEROVATE THERAPEUTICS INC Sold out 0.00% −0.16 AUTL Autolus Therapeutics PLC Sold out 0.00% −0.10 RAPT THERAPEUTICS INC Sold out 0.00% −0.09 NKTX Nkarta Inc. Sold out 0.00% −0.09 CNTA Centessa Pharmaceuticals Ltd. Reduce -0.9% 5.69% +0.53
Portfolio Buys Q3 2024 → Q4 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▼ SRRK Scholar Rock Holding Corp. New 3.59% +3.59 MRUS Merus NV New 2.21% +2.21 ERAS Erasca Inc. New 2.20% +2.20 SNDX Syndax Pharmaceuticals Inc. New 2.04% +2.04 KALV Kalvista Pharmaceuticals Inc. New 1.98% +1.98 AVBP Arrivent Biopharma Inc. Add +4.2% 9.35% +1.90 TSHA Taysha Gene Therapies Inc. Add +128.6% 3.08% +1.61 COGT Cogent Biosciences Inc. Add +111.7% 3.67% +1.41 GOSS Gossamer Bio Inc. Add +99.7% 2.83% +1.38 DYN Dyne Therapeutics Inc. Add +154.3% 2.68% +1.17 NGNE Neurogene Inc. Add +1920.0% 1.18% +1.08 ALLOVIR INC New 0.80% +0.80 UNICYCIVE THERAPEUTICS INC Add +16.8% 1.35% +0.79 PHVS Pharvaris NV Add +25.4% 2.54% +0.70 ATYR Atyr Pharma Inc. New 0.56% +0.56 RGLS Regulus Therapeutics Inc. Add +13.7% 1.30% +0.23 DNTH Dianthus Therapeutics Inc. Add +20.8% 7.84% +0.17 CATX Perspective Therapeutics Inc. Add +62.0% 1.25% −1.79
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ CNTA Centessa Pharmaceuticals Ltd. put New 152,000 $2.5M
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 26 $1.1B DNTH, DFTX, ABVX, COGT, ALMS Q1 2026 29 $903.6M DNTH, COGT, ABVX, ALMS, DFTX Q4 2025 26 $798.8M ABVX, DNTH, COGT, TSHA, GOSS Q3 2025 25 $640.2M ABVX, DNTH, GOSS, COGT, AVBP Q2 2025 29 $455.3M DNTH, AVBP, VRNA, TSHA, SPRY Q1 2025 Amended 33 $460.1M APLS, DNTH, AVBP, TRVI, CNTA Q4 2024 30 $587.1M APLS, AVBP, DNTH, CNTA, VRNA Q3 2024 40 $623.9M APLS, VRNA, GPCR, DNTH, AVBP Q2 2024 44 $606.1M APLS, DNTH, GPCR, INSM, DYN Q1 2024 56 $822.6M APLS, ALPN, DNTH, VRNA, DYN