Opaleye Management Inc.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Opaleye Management Inc. reported 54 stock positions worth $759.2 million. Its top holding was Harrow (HROW) at 13.2% of the portfolio, followed by Liquidia (LQDA, 11.7%) and Eton Pharmaceuticals (ETON, 9.3%). Compared with Q4 2025, it opened 10 new positions, sold out of 10, added to 18 and reduced 12. The biggest buy was Sol-Gel Technologies (SLGL, shares +10%) and the biggest sale Harrow (HROW, shares −27%).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001595855
- Portfolio Value
- $759.2M (Q1 2026)
- SEC Filing
- 0001420506-26-001151 ↗ filed May 15, 2026
Holdings Value
Holdings 54 stocks · $759.2M
| HROW Harrow Inc. | 13.15% | 2,832,230 | $99.9M | Reduce -27.5% |
| LQDA Liquidia Corp. | 11.70% | 2,545,000 | $88.8M | Add +4.5% |
| ETON Eton Pharmaceuticals Inc. | 9.30% | 2,860,000 | $70.6M | No change |
| SLGL Sol-Gel Technologies Ltd. | 5.22% | 500,000 | $39.6M | Add +10.2% |
| RYTM Rhythm Pharmaceuticals Inc. | 4.65% | 123,000 | $35.3M | Reduce -62.7% |
| APGE Apogee Therapeutics Inc. | 4.32% | 390,000 | $32.8M | Add +0.5% |
| IRON Disc Medicine Inc. | 3.55% | 421,000 | $26.9M | Add +110.5% |
| URGN Urogen Pharma Ltd. | 3.39% | 1,430,000 | $25.7M | Add +432.7% |
| CBIO Crescent Biopharma Inc. | 3.18% | 1,312,615 | $24.1M | Add +11.4% |
| STOK Stoke Therapeutics Inc. | 3.00% | 700,000 | $22.8M | Add +0.7% |
| CATX Perspective Therapeutics Inc. | 2.57% | 4,675,000 | $19.5M | Add +294.7% |
| RZLT Rezolute Inc. | 2.53% | 6,300,000 | $19.2M | Add +0.2% |
| MGTX Meiragtx Holdings PLC | 2.42% | 2,123,259 | $18.4M | Add +443.3% |
| TGTX TG Therapeutics Inc. | 2.34% | 535,000 | $17.8M | No change |
| SNWV Sanuwave Health Inc. | 2.23% | 981,267 | $17.0M | No change |
| EWTX Edgewise Therapeutics Inc. | 2.07% | 500,000 | $15.8M | No change |
| ACOG Alpha Cognition Inc. | 1.85% | 2,561,950 | $14.1M | Add +23.7% |
| ANNX Annexon Inc. | 1.70% | 2,331,761 | $12.9M | Reduce -10.3% |
| ALMS Alumis Inc. | 1.60% | 550,000 | $12.1M | Add +2.8% |
| CDXS Codexis Inc. | 1.46% | 6,785,000 | $11.1M | Reduce -0.1% |
| PTGX Protagonist Therapeutics Inc. | 1.39% | 100,000 | $10.5M | Reduce -4.8% |
| RVMD Revolution Medicines Inc. | 1.28% | 100,000 | $9.7M | No change |
| XOMA Xoma Royalty Corporation | 1.24% | 300,000 | $9.4M | Add +2.5% |
| QTTB Q32 Bio Inc. | 1.06% | 1,256,228 | $8.1M | Add +488.8% |
| MBX MBX Biosciences Inc. | 1.02% | 260,000 | $7.8M | No change |
| RLMD Relmada Therapeutics Inc. | 0.86% | 935,000 | $6.5M | No change |
| CGON CG Oncology Inc. | 0.85% | 94,800 | $6.4M | Reduce -76.9% |
| JBIO Jade Biosciences Inc. | 0.79% | 427,608 | $6.0M | No change |
| OCUL Ocular Therapeutix Inc. | 0.67% | 600,000 | $5.1M | Reduce -62.4% |
| ASRT Assertio Holdings Inc. | 0.67% | 265,707 | $5.1M | New |
| EDIT Editas Medicine Inc. | 0.63% | 1,926,997 | $4.8M | New |
| STRO Sutro Biopharma Inc. | 0.63% | 190,671 | $4.7M | No change |
| DERM Journey Medical Corp. | 0.59% | 960,000 | $4.5M | Reduce -1.5% |
| VYGR Voyager Therapeutics Inc. | 0.58% | 1,150,000 | $4.4M | Reduce -3.9% |
| TRVI Trevi Therapeutics Inc. | 0.54% | 345,100 | $4.1M | No change |
| TECX Tectonic Therapeutic Inc. | 0.50% | 123,000 | $3.8M | Reduce -42.7% |
| CABA Cabaletta Bio Inc. | 0.49% | 1,380,000 | $3.7M | Add +53.3% |
| BDSX Biodesix Inc. | 0.45% | 238,047 | $3.5M | New |
| RCKT Rocket Pharmaceuticals Inc. | 0.45% | 955,000 | $3.4M | No change |
| ZNTL Zentalis Pharmaceuticals Inc. | 0.44% | 1,412,656 | $3.3M | Add +0.8% |
| NTLA Intellia Therapeutics Inc. | 0.41% | 245,000 | $3.1M | New |
| FBIO Fortress Biotech Inc. | 0.38% | 1,042,000 | $2.9M | Reduce -4.4% |
| IRD Opus Genetics Inc. | 0.30% | 1,120,000 | $2.3M | No change |
| RIGL Rigel Pharmaceuticals Inc. | 0.25% | 70,000 | $1.9M | No change |
| AVIR Atea Pharmaceuticals Inc. | 0.23% | 322,600 | $1.7M | Add +79.4% |
| LYEL Lyell Immunopharma Inc. | 0.21% | 79,097 | $1.6M | New |
| ENTA Enanta Pharmaceuticals Inc. | 0.21% | 125,000 | $1.6M | Add +66.7% |
| NXTC Nextcure Inc. | 0.20% | 141,181 | $1.5M | New |
| FDMT 4D Molecular Therapeutics Inc. | 0.14% | 112,291 | $1.0M | New |
| PERSPECTIVE THERAPEUTICS INC | 0.11% | 200,000 | $834K | New |
| PLX Protalix Biotherapeutics Inc. | 0.10% | 340,000 | $738K | Reduce -86.3% |
| BBOT Bridgebio Oncology Therapeut | 0.06% | 53,282 | $477K | New |
| LBRX LB Pharmaceuticals Inc. | 0.05% | 14,506 | $358K | New |
| ADGM Adagio Medical Holdings Inc. | 0.00% | 18,444 | $21K | No change |
Portfolio Sells Q4 2025 → Q1 2026
| HROW Harrow Inc. | Reduce -27.5% | 13.15% | −12.09 |
| OCUL Ocular Therapeutix Inc. | Reduce -62.4% | 0.67% | −1.89 |
| ALKS Alkermes PLC | Sold out | 0.00% | −1.81 |
| CGON CG Oncology Inc. | Reduce -76.9% | 0.85% | −1.40 |
| GOSS Gossamer Bio Inc. | Sold out | 0.00% | −1.11 |
| KPTI Karyopharm Therapeutics Inc. | Sold out | 0.00% | −0.90 |
| PLX Protalix Biotherapeutics Inc. | Reduce -86.3% | 0.10% | −0.49 |
| DERM Journey Medical Corp. | Reduce -1.5% | 0.59% | −0.40 |
| ZYME Zymeworks Inc. | Sold out | 0.00% | −0.38 |
| ASSERTIO HOLDINGS INC | Sold out | 0.00% | −0.34 |
| VTYX Ventyx Biosciences Inc. | Sold out | 0.00% | −0.30 |
| GBIO Generation Bio Co. | Sold out | 0.00% | −0.23 |
| BBIO Bridgebio Pharma Inc. | Sold out | 0.00% | −0.18 |
| FBIO Fortress Biotech Inc. | Reduce -4.4% | 0.38% | −0.14 |
| TECX Tectonic Therapeutic Inc. | Reduce -42.7% | 0.50% | −0.09 |
| SLN Silence Therapeutics PLC-ADR | Sold out | 0.00% | −0.06 |
| VYGR Voyager Therapeutics Inc. | Reduce -3.9% | 0.58% | −0.04 |
| RAPT Rapt Therapeutics Inc. | Sold out | 0.00% | −0.03 |
| ANNX Annexon Inc. | Reduce -10.3% | 1.70% | −0.02 |
| RYTM Rhythm Pharmaceuticals Inc. | Reduce -62.7% | 4.65% | −0.01 |
| CDXS Codexis Inc. | Reduce -0.1% | 1.46% | −0.00 |
| PTGX Protagonist Therapeutics Inc. | Reduce -4.8% | 1.39% | +0.18 |
Portfolio Buys Q4 2025 → Q1 2026
| SLGL Sol-Gel Technologies Ltd. | Add +10.2% | 5.22% | +2.69 |
| URGN Urogen Pharma Ltd. | Add +432.7% | 3.39% | +2.56 |
| MGTX Meiragtx Holdings PLC | Add +443.3% | 2.42% | +2.01 |
| CATX Perspective Therapeutics Inc. | Add +294.7% | 2.57% | +1.91 |
| IRON Disc Medicine Inc. | Add +110.5% | 3.55% | +1.45 |
| CBIO Crescent Biopharma Inc. | Add +11.4% | 3.18% | +1.33 |
| QTTB Q32 Bio Inc. | Add +488.8% | 1.06% | +0.97 |
| ALMS Alumis Inc. | Add +2.8% | 1.60% | +0.91 |
| ASRT Assertio Holdings Inc. | New | 0.67% | +0.67 |
| EDIT Editas Medicine Inc. | New | 0.63% | +0.63 |
| RZLT Rezolute Inc. | Add +0.2% | 2.53% | +0.57 |
| LQDA Liquidia Corp. | Add +4.5% | 11.70% | +0.49 |
| APGE Apogee Therapeutics Inc. | Add +0.5% | 4.32% | +0.46 |
| BDSX Biodesix Inc. | New | 0.45% | +0.45 |
| NTLA Intellia Therapeutics Inc. | New | 0.41% | +0.41 |
| CABA Cabaletta Bio Inc. | Add +53.3% | 0.49% | +0.23 |
| XOMA Xoma Royalty Corporation | Add +2.5% | 1.24% | +0.21 |
| LYEL Lyell Immunopharma Inc. | New | 0.21% | +0.21 |
| NXTC Nextcure Inc. | New | 0.20% | +0.20 |
| ZNTL Zentalis Pharmaceuticals Inc. | Add +0.8% | 0.44% | +0.19 |
| AVIR Atea Pharmaceuticals Inc. | Add +79.4% | 0.23% | +0.14 |
| FDMT 4D Molecular Therapeutics Inc. | New | 0.14% | +0.14 |
| PERSPECTIVE THERAPEUTICS INC | New | 0.11% | +0.11 |
| STOK Stoke Therapeutics Inc. | Add +0.7% | 3.00% | +0.09 |
| ACOG Alpha Cognition Inc. | Add +23.7% | 1.85% | +0.08 |
| BBOT Bridgebio Oncology Therapeut | New | 0.06% | +0.06 |
| ENTA Enanta Pharmaceuticals Inc. | Add +66.7% | 0.21% | +0.05 |
| LBRX LB Pharmaceuticals Inc. | New | 0.05% | +0.05 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 58 | $1.1B | LQDA, ETON, HROW, IRON, URGN |
| Q1 2026 | 54 | $759.2M | HROW, LQDA, ETON, SLGL, RYTM |
| Q4 2025Amended | 54 | $757.9M | HROW, LQDA, ETON, RYTM, APGE |
| Q3 2025 | 42 | $702.7M | HROW, ETON, LQDA, RYTM, IMNM |
| Q2 2025Amended | 39 | $483.6M | HROW, ETON, IMNM, SNWV, LQDA |
| Q1 2025 | 43 | $438.3M | HROW, ETON, SNWV, LQDA, RYTM |
| Q4 2024 | 37 | $560.7M | HROW, TGTX, CDXS, ETON, OCUL |
| Q3 2024 | 42 | $591.4M | HROW, TGTX, OCUL, ARVN, CDXS |
| Q2 2024 | 49 | $430.0M | HROW, TGTX, OCUL, RYTM, KROS |
| Q1 2024Amended | 51 | $455.6M | OCUL, HROW, TGTX, KROS, RYTM |