In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Rosalind Advisors, Inc. reported 32 stock positions worth $244.1 million . Its top holding was Delcath Systems (DCTH) at 12.5% of the portfolio, followed by Xeris Biopharma (XERS, 7.7% ) and Fennec Pharmaceuticals (FENC, 7.3% ). Compared with Q4 2025, it opened 10 new positions, sold out of 7, added to 7 and reduced 9. The biggest buy was a new position in Vaxcyte (PCVX) and the biggest sale an exit from Replimune (REPL).
Location TORONTO, A6
CIK 0001622627
Portfolio Value $244.1M (Q1 2026) Holdings 32 stocks · $244.1M 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 Q4 2025 DCTH Delcath Systems Inc. 3,300,389 $30.6M No change XERS Xeris Biopharma Holdings Inc. 3,231,700 $18.7M Add +53.0% FENC Fennec Pharmaceuticals Inc. 2,908,201 $17.9M Add +11.3% SVRA Savara Inc. 3,203,721 $17.5M Reduce -5.9% PCVX Vaxcyte Inc. 290,000 $16.9M New EYPT Eyepoint Inc. 1,036,737 $13.4M Add +50.3% XFOR X4 Pharmaceuticals Inc. 3,214,766 $13.3M Add +23.4% VOR Vor Biopharma Inc. 700,000 $12.5M New MDWD Mediwound Ltd. 749,054 $12.1M No change VSTM Verastem Inc. 2,138,475 $11.3M Add +19.6% CLDX Celldex Therapeutics Inc. 330,000 $10.5M New BCRX Biocryst Pharmaceuticals Inc. 923,057 $8.8M New HELP Cybin Inc. 1,531,814 $7.4M Reduce -7.6% CGON CG Oncology Inc. 100,000 $6.8M Reduce -66.7% NSPR Inspiremd Inc. 3,905,743 $6.4M No change AVIR Atea Pharmaceuticals Inc. 1,171,855 $6.3M New PROF Profound Medical Corp. 828,118 $5.4M Reduce -22.5% VRDN Viridian Therapeutics Inc. 250,401 $4.9M Reduce -44.4% PYPD Polypid Ltd. 597,926 $2.6M Reduce -14.2% MYO Myomo Inc. 3,847,272 $2.6M Add +0.2% TLPH Talphera Inc. 3,353,916 $2.5M Reduce -6.3% OVID Ovid Therapeutics Inc. 1,107,994 $2.5M New DFTX Definium Therapeutics Inc. 125,000 $2.4M Reduce -83.3% OKUR Onkure Therapeutics Inc. Class A 443,763 $1.8M Reduce -39.3% LPCN Lipocine Inc. 221,616 $1.8M New NRXS Neuraxis Inc. 286,138 $1.7M No change AVTX Avalo Therapeutics Inc. 75,000 $1.1M New ANNX Annexon Inc. 200,000 $1.1M New AQST Aquestive Therapeutics Inc. 250,000 $1.0M New BFRI Biofrontera Inc. 1,163,962 $942K Add +2.0% KURA Kura Oncology Inc. 100,000 $813K No change RGNT Regentis Biomaterials Ltd. 251,510 $768K No change
Options reported separately and not counted above: REPLIMUNE GROUP INC calls ($2.7M), INVESCO QQQ TR puts ($1.1M), STATE STR SPDR S&P 500 ETF T puts ($959K), VIRIDIAN THERAPEUTICS INC puts ($53K), ARRIVENT BIOPHARMA INC calls ($0), UNIQURE NV calls ($0).
Portfolio Sells Q4 2025 → Q1 2026 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 Q4 2025 % Of Portfolio Change To Portfolio ▲ REPL Replimune Group Inc. Sold out 0.00% −5.00 ATYR Atyr Pharma Inc. Sold out 0.00% −4.96 CYTK Cytokinetics Inc. Sold out 0.00% −4.52 VRDN Viridian Therapeutics Inc. Reduce -44.4% 2.01% −3.10 DFTX Definium Therapeutics Inc. Reduce -83.3% 0.97% −2.69 HELP Cybin Inc. Reduce -7.6% 3.01% −1.93 OCUL Ocular Therapeutix Inc. Sold out 0.00% −1.77 CGON CG Oncology Inc. Reduce -66.7% 2.77% −1.77 AVBP Arrivent Biopharma Inc. Sold out 0.00% −1.58 PROF Profound Medical Corp. Reduce -22.5% 2.20% −0.87 TLPH Talphera Inc. Reduce -6.3% 1.03% −0.46 TRVI Trevi Therapeutics Inc. Sold out 0.00% −0.46 SVRA Savara Inc. Reduce -5.9% 7.17% −0.31 GUTS Fractyl Health Inc. Sold out 0.00% −0.31 PYPD Polypid Ltd. Reduce -14.2% 1.07% −0.03 OKUR Onkure Therapeutics Inc. Class A Reduce -39.3% 0.75% −0.02
Portfolio Buys Q4 2025 → Q1 2026 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 Q4 2025 % Of Portfolio Change To Portfolio ▼ PCVX Vaxcyte Inc. New 6.90% +6.90 VOR Vor Biopharma Inc. New 5.12% +5.12 CLDX Celldex Therapeutics Inc. New 4.29% +4.29 BCRX Biocryst Pharmaceuticals Inc. New 3.60% +3.60 AVIR Atea Pharmaceuticals Inc. New 2.58% +2.58 XFOR X4 Pharmaceuticals Inc. Add +23.4% 5.44% +1.64 XERS Xeris Biopharma Holdings Inc. Add +53.0% 7.68% +1.64 OVID Ovid Therapeutics Inc. New 1.01% +1.01 EYPT Eyepoint Inc. Add +50.3% 5.48% +0.88 LPCN Lipocine Inc. New 0.73% +0.73 AVTX Avalo Therapeutics Inc. New 0.46% +0.46 ANNX Annexon Inc. New 0.45% +0.45 AQST Aquestive Therapeutics Inc. New 0.43% +0.43 BFRI Biofrontera Inc. Add +2.0% 0.39% +0.15 FENC Fennec Pharmaceuticals Inc. Add +11.3% 7.33% −0.00 MYO Myomo Inc. Add +0.2% 1.06% −0.21 VSTM Verastem Inc. Add +19.6% 4.64% −0.39
Options Activity Q4 2025 → Q1 2026 Security Type Change vs Q4 2025 Underlying Shares Value ▼ REPLIMUNE GROUP INC call Add +452.4% 1,275,600 $2.7M ANAVEX LIFE SCIENCES CORP put Sold out 1,168,600 $1.9Mbefore exit SPDR SERIES TRUST put Sold out 1,937,600 $1.3Mbefore exit ISHARES TR put Sold out 200,000 $1.1Mbefore exit INVESCO QQQ TR put Reduce -44.4% 250,000 $1.1M STATE STR SPDR S&P 500 ETF T put Reduce -75.5% 125,000 $959K VERASTEM INC call Sold out 268,600 $160Kbefore exit VIRIDIAN THERAPEUTICS INC put New 263,600 $53K VIKING THERAPEUTICS INC call Sold out 100,000 $2Kbefore exit ARRIVENT BIOPHARMA INC call Add +0.9% 108,900 $0 UNIQURE NV call Add +195.8% 295,800 $0 REPLIMUNE GROUP INC put Sold out 264,700 $0before exit REZOLUTE INC call Sold out 263,100 $0before exit VISTAGEN THERAPEUTICS INC call Sold out 493,400 $0before exit
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