Stonepine Capital Management, LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Stonepine Capital Management, LLC reported 20 stock positions worth $126.1 million. Its top holding was Evolus (EOLS) at 29.7% of the portfolio, followed by Adma Biologics (ADMA, 17.9%) and Alimera Sciences (ALIM, 12.5%). Compared with Q4 2023, it opened 8 new positions, sold out of 4, added to 4 and reduced 7. The biggest buy was a new position in Revance Therapeutics (RVNC) and the biggest sale an exit from Amylyx Pharmaceuticals (AMLX).
- Most Recent 13F
- Q2 2026
- Location
- Bend, OR
- CIK
- 0001440771
- Portfolio Value
- $126.1M (Q1 2024)
- SEC Filing
- 0000935836-24-000386 ↗ filed May 15, 2024
Holdings Value
Holdings 20 stocks · $126.1M
| EOLS Evolus Inc. | 29.70% | 2,674,356 | $37.4M | Reduce -49.9% |
| ADMA Adma Biologics Inc. | 17.94% | 3,426,882 | $22.6M | Reduce -62.8% |
| ALIM Alimera Sciences Inc. | 12.53% | 4,051,072 | $15.8M | Add +1.3% |
| LKFT Lakefront Biotherapeutic-ADR filed as GALAPAGOS NV | 10.05% | 393,634 | $12.7M | Add +50.3% |
| RVNC Revance Therapeutics Inc. | 7.71% | 1,976,342 | $9.7M | New |
| XOMA Xoma Royalty Corporation filed as XOMA CORP DEL | 4.84% | 253,770 | $6.1M | Add +1.5% |
| TELA Tela Bio Inc. | 3.10% | 688,200 | $3.9M | Add +116.6% |
| NKTR Nektar Therapeutics | 2.58% | 3,480,409 | $3.3M | New |
| MIST Milestone Pharmaceuticals Inc. | 2.08% | 1,462,296 | $2.6M | New |
| SCPH Scpharmaceuticals Inc. | 1.78% | 446,776 | $2.2M | New |
| CALC Calcimedica Inc. | 1.72% | 522,602 | $2.2M | New |
| ANIK Anika Therapeutics Inc. | 1.23% | 60,949 | $1.5M | New |
| RIGL Rigel Pharmaceuticals Inc. | 1.22% | 1,040,241 | $1.5M | New |
| AYTU Aytu Biopharma Inc. | 1.14% | 472,469 | $1.4M | No change |
| XERS Xeris Biopharma Holdings Inc. | 1.05% | 598,086 | $1.3M | Reduce -89.9% |
| XGN Exagen Inc. | 0.49% | 384,600 | $612K | Reduce -42.6% |
| ACET Adicet Bio Inc. | 0.26% | 141,548 | $333K | New |
| RZLT Rezolute Inc. | 0.25% | 121,479 | $310K | Reduce -95.6% |
| IOBTQ Io Biotech Inc. | 0.21% | 156,167 | $270K | Reduce -90.6% |
| SCYX Scynexis Inc. | 0.11% | 95,637 | $141K | Reduce -92.9% |
Portfolio Sells Q4 2023 → Q1 2024
| AMLX Amylyx Pharmaceuticals Inc. | Sold out | 0.00% | −15.91 |
| QDEL Quidelortho Corp. | Sold out | 0.00% | −14.34 |
| XERS Xeris Biopharma Holdings Inc. | Reduce -89.9% | 1.05% | −4.99 |
| SCYX Scynexis Inc. | Reduce -92.9% | 0.11% | −1.20 |
| IOBTQ Io Biotech Inc. | Reduce -90.6% | 0.21% | −1.14 |
| AVIR Atea Pharmaceuticals Inc. | Sold out | 0.00% | −1.11 |
| RZLT Rezolute Inc. | Reduce -95.6% | 0.25% | −0.94 |
| ATYR Atyr Pharma Inc. | Sold out | 0.00% | −0.29 |
| XGN Exagen Inc. | Reduce -42.6% | 0.49% | −0.09 |
| ADMA Adma Biologics Inc. | Reduce -62.8% | 17.94% | −0.09 |
| EOLS Evolus Inc. | Reduce -49.9% | 29.70% | +5.42 |
Portfolio Buys Q4 2023 → Q1 2024
| RVNC Revance Therapeutics Inc. | New | 7.71% | +7.71 |
| LKFT Lakefront Biotherapeutic-ADR | Add +50.3% | 10.05% | +5.45 |
| ALIM Alimera Sciences Inc. | Add +1.3% | 12.53% | +5.06 |
| XOMA Xoma Royalty Corporation | Add +1.5% | 4.84% | +2.84 |
| NKTR Nektar Therapeutics | New | 2.58% | +2.58 |
| TELA Tela Bio Inc. | Add +116.6% | 3.10% | +2.19 |
| MIST Milestone Pharmaceuticals Inc. | New | 2.08% | +2.08 |
| SCPH Scpharmaceuticals Inc. | New | 1.78% | +1.78 |
| CALC Calcimedica Inc. | New | 1.72% | +1.72 |
| ANIK Anika Therapeutics Inc. | New | 1.23% | +1.23 |
| RIGL Rigel Pharmaceuticals Inc. | New | 1.22% | +1.22 |
| ACET Adicet Bio Inc. | New | 0.26% | +0.26 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 72 | $131.4M | VSTM, EOLS, TENX, NKTR, ADMA |
| Q1 2026 | 66 | $113.7M | VSTM, TENX, EOLS, ADMA, CAMP |
| Q4 2025 | 61 | $126.4M | VSTM, ADMA, EOLS, ZVRA, IKT |
| Q3 2025 | 58 | $123.0M | VSTM, ADMA, EOLS, ZVRA, NKTR |
| Q2 2025 | 58 | $101.5M | ADMA, EOLS, ZVRA, VSTM, INDV |
| Q1 2025 | 66 | $102.8M | ANIP, EOLS, OPTINOSE INC, ZVRA, VSTM |
| Q4 2024 | 52 | $123.9M | ADMA, EOLS, TELA, LKFT, ZVRA |
| Q3 2024 | 38 | $158.2M | ADMA, EOLS, LKFT, JAZZ, RPRX |
| Q2 2024Amended | 25 | $109.6M | ADMA, ALIM, EOLS, LKFT, RVNC |
| Q1 2024 | 20 | $126.1M | EOLS, ADMA, ALIM, LKFT, RVNC |