In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Rosalind Advisors, Inc. reported 29 stock positions worth $283.0 million . Its top holding was Delcath Systems (DCTH) at 11.7% of the portfolio, followed by Cytokinetics (CYTK, 7.8% ) and Fennec Pharmaceuticals (FENC, 6.9% ). Compared with Q2 2025, it opened 6 new positions, sold out of 6, added to 11 and reduced 7. The biggest buy was a new position in Eyepoint (EYPT) and the biggest sale an exit from Replimune (REPL).
Location TORONTO, A6
CIK 0001622627
Portfolio Value $283.0M (Q3 2025) Holdings 29 stocks · $283.0M 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 Q2 2025 DCTH Delcath Systems Inc. 3,300,389 $33.0M No change CYTK Cytokinetics Inc. 400,000 $22.0M No change FENC Fennec Pharmaceuticals Inc. 2,076,840 $19.4M Add +1.5% VSTM Verastem Inc. 1,929,563 $17.0M Reduce -5.6% RZLT Rezolute Inc. 1,807,202 $17.0M Add +3.8% XERS Xeris Biopharma Holdings Inc. 1,795,766 $14.6M Reduce -16.7% SVRA Savara Inc. 4,000,000 $14.3M Add +50.7% MDWD Mediwound Ltd. 749,054 $13.5M Add +84.0% VRDN Viridian Therapeutics Inc. 600,000 $12.9M Reduce -14.3% CGON CG Oncology Inc. 300,000 $12.1M Add +55.5% VRNA Verona Pharma Ltd. 100,000 $10.7M No change IDYA Ideaya Biosciences Inc. 350,000 $9.5M Reduce -31.5% NSPR Inspiremd Inc. 3,905,743 $9.4M Add +70.6% EYPT Eyepoint Inc. 650,000 $9.3M New MIND MEDICINE MINDMED INC 750,000 $8.8M Add +78.6% HELP Cybin Inc. 1,500,000 $8.8M Add +85.0% GUTS Fractyl Health Inc. 5,000,000 $8.0M New ATYR Atyr Pharma Inc. 1,039,080 $7.6M New QURE Uniqure NV 125,000 $7.3M New XFOR X4 Pharmaceuticals Inc. 1,544,607 $5.3M New OCUL Ocular Therapeutix Inc. 400,000 $4.7M Reduce -67.2% TLPH Talphera Inc. 4,385,757 $3.9M Add +118.9% PROF Profound Medical Corp. 692,185 $3.4M No change MYO Myomo Inc. 3,790,788 $3.4M Add +5.4% PYPD Polypid Ltd. 918,668 $3.1M Reduce -5.8% BFRI Biofrontera Inc. 1,140,764 $1.1M Add +16.8% ATXS Astria Therapeutics Inc. 1,542,520 $1.1M New TRVI Trevi Therapeutics Inc. 100,000 $915K Reduce -66.7% KURA Kura Oncology Inc. 100,000 $885K No change
Options reported separately and not counted above: ATYR PHARMA INC puts ($4.5M), INVESCO QQQ TR puts ($1.6M), SPDR SERIES TRUST puts ($951K), VERASTEM INC calls ($898K), STATE STR SPDR S&P 500 ETF T puts ($718K), REZOLUTE INC calls ($546K), IDEAYA BIOSCIENCES INC calls ($237K), REPLIMUNE GROUP INC calls ($183K), ISHARES TR puts ($20K), SCHOLAR ROCK HLDG CORP puts ($10K).
Portfolio Sells Q2 2025 → Q3 2025 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 Q2 2025 % Of Portfolio Change To Portfolio ▲ REPL Replimune Group Inc. Sold out 0.00% −4.05 OCUL Ocular Therapeutix Inc. Reduce -67.2% 1.65% −3.82 URGN Urogen Pharma Ltd. Sold out 0.00% −3.60 PHVS Pharvaris NV Sold out 0.00% −1.90 IDYA Ideaya Biosciences Inc. Reduce -31.5% 3.37% −1.83 KALV Kalvista Pharmaceuticals Inc. Sold out 0.00% −0.86 CMPS Compass Pathways PLC Sold out 0.00% −0.65 PYPD Polypid Ltd. Reduce -5.8% 1.08% −0.58 TRVI Trevi Therapeutics Inc. Reduce -66.7% 0.32% −0.47 VRDN Viridian Therapeutics Inc. Reduce -14.3% 4.58% −0.16 OVID Ovid Therapeutics Inc. Sold out 0.00% −0.08 XERS Xeris Biopharma Holdings Inc. Reduce -16.7% 5.17% +0.29 VSTM Verastem Inc. Reduce -5.6% 6.02% +1.92
Portfolio Buys Q2 2025 → Q3 2025 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 Q2 2025 % Of Portfolio Change To Portfolio ▼ EYPT Eyepoint Inc. New 3.27% +3.27 GUTS Fractyl Health Inc. New 2.81% +2.81 ATYR Atyr Pharma Inc. New 2.67% +2.67 QURE Uniqure NV New 2.58% +2.58 RZLT Rezolute Inc. Add +3.8% 6.00% +2.25 SVRA Savara Inc. Add +50.7% 5.05% +2.12 XFOR X4 Pharmaceuticals Inc. New 1.87% +1.87 CGON CG Oncology Inc. Add +55.5% 4.27% +1.84 MIND MEDICINE MINDMED INC Add +78.6% 3.12% +1.81 MDWD Mediwound Ltd. Add +84.0% 4.77% +0.95 TLPH Talphera Inc. Add +118.9% 1.38% +0.94 NSPR Inspiremd Inc. Add +70.6% 3.33% +0.81 ATXS Astria Therapeutics Inc. New 0.39% +0.39 BFRI Biofrontera Inc. Add +16.8% 0.40% +0.06 HELP Cybin Inc. Add +85.0% 3.12% −0.17 FENC Fennec Pharmaceuticals Inc. Add +1.5% 6.87% −1.35 MYO Myomo Inc. Add +5.4% 1.19% −2.56
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ ATYR PHARMA INC put Add +604.1% 1,570,200 $4.5M INMUNE BIO INC put Sold out 1,033,200 $1.8Mbefore exit INVESCO QQQ TR put New 250,000 $1.6M SPDR SERIES TRUST put Add +287.0% 2,128,300 $951K VERASTEM INC call New 646,500 $898K STATE STR SPDR S&P 500 ETF T put Add +20.0% 300,000 $718K UROGEN PHARMA LTD call Sold out 100,000 $600Kbefore exit REZOLUTE INC call New 263,100 $546K IDEAYA BIOSCIENCES INC call Add +79.5% 35,900 $237K REPLIMUNE GROUP INC call Add +120.6% 511,400 $183K CRINETICS PHARMACEUTICALS IN call Sold out 52,700 $58Kbefore exit ISHARES TR put New 200,000 $20K SCHOLAR ROCK HLDG CORP put New 100,000 $10K
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 29 $266.2M DCTH, FENC, XERS, SVRA, VSTM Q1 2026 32 $244.1M DCTH, XERS, FENC, SVRA, PCVX Q4 2025 29 $274.5M DCTH, SVRA, FENC, XERS, VRDN Q3 2025 29 $283.0M DCTH, CYTK, FENC, VSTM, RZLT Q2 2025 29 $206.6M DCTH, FENC, CYTK, OCUL, IDYA Q1 2025 31 $205.2M DCTH, VSTM, XERS, MYO, IDYA Q4 2024 Amended 28 $185.7M DCTH, MYO, MDWD, CMRX, XERS Q3 2024 29 $150.7M DCTH, MYO, CRMD, ABEO, MDWD Q2 2024 35 $126.5M DCTH, MYO, MDWD, OPTINOSE INC, ABEO Q1 2024 31 $106.9M MYO, LYRA, MDWD, OPTINOSE INC, XERS