Silverarc Capital Management, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Silverarc Capital Management, LLC reported 66 stock positions worth $478.6 million. Its top holding was Verona Pharma (VRNA) at 7.2% of the portfolio, followed by Merus (MRUS, 7.1%) and Nuvalent Class A (NUVL, 6.5%). Compared with Q4 2024, it opened 23 new positions, sold out of 14, added to 27 and reduced 15. The biggest buy was Kalvista Pharmaceuticals (KALV, shares +178%) and the biggest sale an exit from Pliant Therapeutics (PLRX).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001816307
- Portfolio Value
- $478.6M (Q1 2025)
- SEC Filing
- 0001420506-25-001107 ↗ filed May 14, 2025
Holdings Value
Holdings 66 stocks · $478.6M
| VRNA Verona Pharma Ltd. | 7.24% | 545,872 | $34.7M | Add +5.8% |
| MRUS Merus NV | 7.13% | 811,021 | $34.1M | Add +19.1% |
| NUVL Nuvalent Inc. Class A | 6.50% | 439,018 | $31.1M | Add +9.8% |
| AKRO Akero Therapeutics Inc. | 6.09% | 719,992 | $29.1M | Reduce -2.6% |
| INSM Insmed Inc. | 5.12% | 321,366 | $24.5M | Reduce -13.7% |
| KALV Kalvista Pharmaceuticals Inc. | 4.10% | 1,698,984 | $19.6M | Add +177.5% |
| VCYT Veracyte Inc. | 3.93% | 633,832 | $18.8M | Add +25.9% |
| RYTM Rhythm Pharmaceuticals Inc. | 3.74% | 337,605 | $17.9M | Add +23.3% |
| SNDX Syndax Pharmaceuticals Inc. | 3.36% | 1,309,224 | $16.1M | Add +6.4% |
| URGN Urogen Pharma Ltd. | 3.19% | 1,381,158 | $15.3M | Add +23.3% |
| RNAM Avidity Biosciences Inc. | 2.54% | 411,312 | $12.1M | Reduce -24.3% |
| SLNO Soleno Therapeutics Inc. | 2.48% | 166,417 | $11.9M | New |
| ASND Ascendis Pharma A/S | 2.47% | 75,751 | $11.8M | Add +47.1% |
| IRON Disc Medicine Inc. | 2.45% | 236,471 | $11.7M | Add +114.2% |
| ORIC Oric Pharmaceuticals Inc. | 2.40% | 2,060,240 | $11.5M | Add +74.8% |
| ETNB 89BIO Inc. | 2.29% | 1,510,498 | $11.0M | Add +1465.1% |
| ERAS Erasca Inc. | 2.11% | 7,367,996 | $10.1M | Reduce -2.3% |
| WVE Wave Life Sciences Ltd. | 1.77% | 1,050,374 | $8.5M | Add +72.5% |
| NBIX Neurocrine Biosciences Inc. | 1.68% | 72,583 | $8.0M | New |
| TVTX Travere Therapeutics Inc. | 1.53% | 408,849 | $7.3M | Add +47.4% |
| GOSS Gossamer Bio Inc. | 1.45% | 6,320,684 | $7.0M | Add +2.4% |
| GILD Gilead Sciences Inc. | 1.45% | 62,029 | $7.0M | Add +520.3% |
| BBOT Bridgebio Oncology Therapeut filed as HELIX ACQUISITION CORP II | 1.45% | 613,393 | $6.9M | Add +19.5% |
| ELUT Elutia Inc. | 1.41% | 2,670,056 | $6.8M | Add +49.8% |
| PRAX Praxis Precision Medicines I | 1.31% | 166,074 | $6.3M | Add +129.0% |
| MLYS Mineralys Therapeutics Inc. | 1.12% | 338,354 | $5.4M | New |
| CGEN Compugen Ltd. | 0.88% | 2,895,430 | $4.2M | Add +78.3% |
| TARS Tarsus Pharmaceuticals Inc. | 0.87% | 81,331 | $4.2M | Add +23.3% |
| ALKS Alkermes PLC | 0.86% | 124,871 | $4.1M | New |
| OCUL Ocular Therapeutix Inc. | 0.84% | 551,570 | $4.0M | New |
| BBIO Bridgebio Pharma Inc. | 0.80% | 111,000 | $3.8M | New |
| KURA Kura Oncology Inc. | 0.80% | 581,369 | $3.8M | New |
| CLDX Celldex Therapeutics Inc. | 0.78% | 205,962 | $3.7M | Reduce -22.1% |
| DNTH Dianthus Therapeutics Inc. | 0.72% | 190,334 | $3.5M | New |
| MDGL Madrigal Pharmaceuticals Inc. | 0.72% | 10,344 | $3.4M | New |
| CERS Cerus Corp. | 0.71% | 2,456,537 | $3.4M | Add +54.8% |
| TELA Tela Bio Inc. | 0.71% | 2,771,288 | $3.4M | Reduce -9.6% |
| CNTA Centessa Pharmaceuticals Ltd. | 0.70% | 232,758 | $3.3M | Reduce -61.1% |
| TRVI Trevi Therapeutics Inc. | 0.70% | 530,000 | $3.3M | Reduce -27.8% |
| BPMC Blueprint Medicines Corp. | 0.69% | 37,345 | $3.3M | New |
| GPCR Structure Therapeutics Inc. | 0.68% | 188,069 | $3.3M | Add +23.4% |
| BNTC Benitec Biopharma Inc. | 0.68% | 250,000 | $3.3M | New |
| LQDA Liquidia Corp. | 0.66% | 214,057 | $3.2M | New |
| PTCT PTC Therapeutics Inc. | 0.64% | 60,389 | $3.1M | New |
| MTSR Metsera Inc. | 0.64% | 112,759 | $3.1M | New |
| BDSX Biodesix Inc. | 0.54% | 4,098,406 | $2.6M | Reduce -5.4% |
| DCTH Delcath Systems Inc. | 0.51% | 191,470 | $2.4M | Add +23.3% |
| QURE Uniqure NV | 0.45% | 203,400 | $2.2M | Add +103.4% |
| KNSA Kiniksa Pharmaceuticals Inte | 0.41% | 88,215 | $2.0M | New |
| SLDB Solid Biosciences Inc. | 0.35% | 452,239 | $1.7M | New |
| CMPX Compass Therapeutics Inc. | 0.35% | 874,869 | $1.7M | New |
| CCCC C4 Therapeutics Inc. | 0.29% | 882,300 | $1.4M | Reduce -27.8% |
| KALA Kala Bio Inc. | 0.29% | 246,079 | $1.4M | Add +6.5% |
| UNICYCIVE THERAPEUTICS INC | 0.29% | 2,413,489 | $1.4M | Reduce -2.9% |
| ABVX Abivax SA-ADR | 0.28% | 210,901 | $1.3M | Reduce -26.0% |
| KOD Kodiak Sciences Inc. | 0.26% | 441,807 | $1.2M | Reduce -55.8% |
| SION Sionna Therapeutics Inc. | 0.25% | 114,138 | $1.2M | New |
| IFRX Inflarx NV | 0.25% | 1,161,567 | $1.2M | New |
| MERSANA THERAPEUTICS INC | 0.22% | 3,088,505 | $1.1M | New |
| MODULAR MED INC | 0.22% | 958,881 | $1.0M | Reduce -24.6% |
| RADX Radiopharm Theranostics Ltd. | 0.19% | 187,406 | $901K | No change |
| AARD Aardvark Therapeutics Inc. | 0.19% | 119,496 | $897K | New |
| XENE Xenon Pharmaceuticals Inc. | 0.07% | 10,121 | $340K | New |
| AVDL Avadel Pharmaceuticals Ltd. | 0.06% | 39,366 | $308K | New |
| GUTS Fractyl Health Inc. | 0.06% | 237,448 | $283K | Add +34.2% |
| VXRT Vaxart Inc. | 0.06% | 683,825 | $278K | Reduce -36.5% |
Options reported separately and not counted above: AKERO THERAPEUTICS INC calls ($7.3M), SOLENO THERAPEUTICS INC puts ($3.0M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $5K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| RCKTW Rocket Pharmaceuticals in-27 | *W EXP 09/02/202 | 104,828 | $5K | No change |
Total filed on the 13F, all lines: $478.6M.
Portfolio Sells Q4 2024 → Q1 2025
| PLRX Pliant Therapeutics Inc. | Sold out | 0.00% | −3.87 |
| ITCI Intra-Cellular Therapies Inc. | Sold out | 0.00% | −3.34 |
| PSTX Poseida Therapeutics Inc. | Sold out | 0.00% | −2.17 |
| ERAS Erasca Inc. | Reduce -2.3% | 2.11% | −2.13 |
| KOD Kodiak Sciences Inc. | Reduce -55.8% | 0.26% | −1.97 |
| SRRK Scholar Rock Holding Corp. | Sold out | 0.00% | −1.77 |
| COGT Cogent Biosciences Inc. | Sold out | 0.00% | −1.61 |
| CNTA Centessa Pharmaceuticals Ltd. | Reduce -61.1% | 0.70% | −1.54 |
| TELA Tela Bio Inc. | Reduce -9.6% | 0.71% | −1.36 |
| RARE Ultragenyx Pharmaceutical Inc. | Sold out | 0.00% | −1.17 |
| RNAM Avidity Biosciences Inc. | Reduce -24.3% | 2.54% | −1.00 |
| BDSX Biodesix Inc. | Reduce -5.4% | 0.54% | −0.95 |
| INCY Incyte Corp. | Sold out | 0.00% | −0.76 |
| PCVX Vaxcyte Inc. | Sold out | 0.00% | −0.75 |
| GERN Geron Corp. | Sold out | 0.00% | −0.73 |
| CLDX Celldex Therapeutics Inc. | Reduce -22.1% | 0.78% | −0.71 |
| CCCC C4 Therapeutics Inc. | Reduce -27.8% | 0.29% | −0.69 |
| INSM Insmed Inc. | Reduce -13.7% | 5.12% | −0.62 |
| VRDN Viridian Therapeutics Inc. | Sold out | 0.00% | −0.43 |
| OLMA Olema Pharmaceuticals Inc. | Sold out | 0.00% | −0.30 |
| EYPT Eyepoint Inc. | Sold out | 0.00% | −0.20 |
| ABVX Abivax SA-ADR | Reduce -26.0% | 0.28% | −0.19 |
| MODULAR MED INC | Reduce -24.6% | 0.22% | −0.17 |
| UNICYCIVE THERAPEUTICS INC | Reduce -2.9% | 0.29% | −0.15 |
| VXRT Vaxart Inc. | Reduce -36.5% | 0.06% | −0.10 |
| KPTI Karyopharm Therapeutics Inc. | Sold out | 0.00% | −0.09 |
| BIOA Bioage Labs Inc. | Sold out | 0.00% | −0.05 |
| TRVI Trevi Therapeutics Inc. | Reduce -27.8% | 0.70% | +0.02 |
| AKRO Akero Therapeutics Inc. | Reduce -2.6% | 6.09% | +1.49 |
Portfolio Buys Q4 2024 → Q1 2025
| KALV Kalvista Pharmaceuticals Inc. | Add +177.5% | 4.10% | +2.94 |
| SLNO Soleno Therapeutics Inc. | New | 2.48% | +2.48 |
| ETNB 89BIO Inc. | Add +1465.1% | 2.29% | +2.13 |
| VRNA Verona Pharma Ltd. | Add +5.8% | 7.24% | +1.88 |
| NBIX Neurocrine Biosciences Inc. | New | 1.68% | +1.68 |
| GILD Gilead Sciences Inc. | Add +520.3% | 1.45% | +1.25 |
| MLYS Mineralys Therapeutics Inc. | New | 1.12% | +1.12 |
| IRON Disc Medicine Inc. | Add +114.2% | 2.45% | +0.89 |
| ASND Ascendis Pharma A/S | Add +47.1% | 2.47% | +0.88 |
| ALKS Alkermes PLC | New | 0.86% | +0.86 |
| OCUL Ocular Therapeutix Inc. | New | 0.84% | +0.84 |
| BBIO Bridgebio Pharma Inc. | New | 0.80% | +0.80 |
| KURA Kura Oncology Inc. | New | 0.80% | +0.80 |
| MRUS Merus NV | Add +19.1% | 7.13% | +0.73 |
| DNTH Dianthus Therapeutics Inc. | New | 0.72% | +0.72 |
| MDGL Madrigal Pharmaceuticals Inc. | New | 0.72% | +0.72 |
| BPMC Blueprint Medicines Corp. | New | 0.69% | +0.69 |
| BNTC Benitec Biopharma Inc. | New | 0.68% | +0.68 |
| LQDA Liquidia Corp. | New | 0.66% | +0.66 |
| PTCT PTC Therapeutics Inc. | New | 0.64% | +0.64 |
| MTSR Metsera Inc. | New | 0.64% | +0.64 |
| URGN Urogen Pharma Ltd. | Add +23.3% | 3.19% | +0.52 |
| TVTX Travere Therapeutics Inc. | Add +47.4% | 1.53% | +0.45 |
| KNSA Kiniksa Pharmaceuticals Inte | New | 0.41% | +0.41 |
| SLDB Solid Biosciences Inc. | New | 0.35% | +0.35 |
| CMPX Compass Therapeutics Inc. | New | 0.35% | +0.35 |
| CGEN Compugen Ltd. | Add +78.3% | 0.88% | +0.33 |
| RYTM Rhythm Pharmaceuticals Inc. | Add +23.3% | 3.74% | +0.31 |
| ORIC Oric Pharmaceuticals Inc. | Add +74.8% | 2.40% | +0.28 |
| SION Sionna Therapeutics Inc. | New | 0.25% | +0.25 |
| IFRX Inflarx NV | New | 0.25% | +0.25 |
| BBOT Bridgebio Oncology Therapeut | Add +19.5% | 1.45% | +0.24 |
| MERSANA THERAPEUTICS INC | New | 0.22% | +0.22 |
| GOSS Gossamer Bio Inc. | Add +2.4% | 1.45% | +0.20 |
| AARD Aardvark Therapeutics Inc. | New | 0.19% | +0.19 |
| CERS Cerus Corp. | Add +54.8% | 0.71% | +0.17 |
| DCTH Delcath Systems Inc. | Add +23.3% | 0.51% | +0.09 |
| WVE Wave Life Sciences Ltd. | Add +72.5% | 1.77% | +0.09 |
| XENE Xenon Pharmaceuticals Inc. | New | 0.07% | +0.07 |
| PRAX Praxis Precision Medicines I | Add +129.0% | 1.31% | +0.07 |
| AVDL Avadel Pharmaceuticals Ltd. | New | 0.06% | +0.06 |
| TARS Tarsus Pharmaceuticals Inc. | Add +23.3% | 0.87% | +0.06 |
| QURE Uniqure NV | Add +103.4% | 0.45% | +0.06 |
| GUTS Fractyl Health Inc. | Add +34.2% | 0.06% | −0.02 |
| KALA Kala Bio Inc. | Add +6.5% | 0.29% | −0.06 |
| ELUT Elutia Inc. | Add +49.8% | 1.41% | −0.08 |
| GPCR Structure Therapeutics Inc. | Add +23.4% | 0.68% | −0.24 |
| SNDX Syndax Pharmaceuticals Inc. | Add +6.4% | 3.36% | −0.28 |
| NUVL Nuvalent Inc. Class A | Add +9.8% | 6.50% | −0.50 |
| VCYT Veracyte Inc. | Add +25.9% | 3.93% | −0.53 |
Options Activity Q4 2024 → Q1 2025
| AKERO THERAPEUTICS INC | call | Reduce -17.9% | 180,600 | $7.3M |
| SOLENO THERAPEUTICS INC | put | New | 42,500 | $3.0M |
| SYNDAX PHARMACEUTICALS INC | call | Sold out | 172,400 | $2.3Mbefore exit |
| NEUMORA THERAPEUTICS INC. | call | Sold out | 147,200 | $1.6Mbefore 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 | 64 | $898.5M | ASND, CELC, COGT, URGN, IMNM |
| Q1 2026 | 66 | $848.6M | KALV, DNTH, COGT, CELC, IMNM |
| Q4 2025 | 63 | $691.1M | ABVX, COGT, URGN, KALV, CELC |
| Q3 2025 | 72 | $690.7M | ABVX, RYTM, RNAM, NUVL, URGN |
| Q2 2025 | 56 | $488.6M | MRUS, AKRO, VRNA, URGN, RYTM |
| Q1 2025 | 66 | $478.6M | VRNA, MRUS, NUVL, AKRO, INSM |
| Q4 2024 | 57 | $447.2M | NUVL, MRUS, INSM, VRNA, AKRO |
| Q3 2024 | 67 | $443.7M | NUVL, MRUS, INSM, RNAM, ERAS |
| Q2 2024 | 65 | $405.1M | MRUS, NUVL, RNAM, URGN, ERAS |
| Q1 2024 | 72 | $356.6M | MRUS, SLDB, MORF, ORIC, MERSANA THERAPEUTICS INC |