Velan Capital Investment Management LP
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Velan Capital Investment Management LP reported 50 stock positions worth $163.2 million. Its top holding was Praxis Precision Medicines I (PRAX) at 18.2% of the portfolio, followed by Maplight Therapeutics (MPLT, 10.8%) and Sutro Biopharma (STRO, 10.4%). Compared with Q1 2026, it opened 6 new positions, sold out of 5, added to 10 and reduced 11. The biggest buy was Immix Biopharma (IMMX, shares +47%) and the biggest sale an exit from Esperion Therapeutics (ESPR).
- Most Recent 13F
- Q2 2026
- Location
- ALPHARETTA, GA
- CIK
- 0001848809
- Portfolio Value
- $163.2M (Q2 2026)
- SEC Filing
- 0001848809-26-000003 ↗ filed Aug 14, 2026
Holdings Value
Holdings 50 stocks · $163.2M
| PRAX Praxis Precision Medicines I | 18.21% | 88,781 | $29.7M | Reduce -11.9% |
| MPLT Maplight Therapeutics Inc. | 10.82% | 492,893 | $17.7M | No change |
| STRO Sutro Biopharma Inc. | 10.42% | 512,160 | $17.0M | No change |
| IMMX Immix Biopharma Inc. | 6.85% | 1,085,000 | $11.2M | Add +46.6% |
| TARA Protara Therapeutic Inc. | 6.66% | 2,844,652 | $10.9M | Add +0.3% |
| ABVX Abivax SA-ADR | 5.36% | 65,630 | $8.7M | Reduce -14.8% |
| TENX Tenax Therapeutics Inc. | 4.90% | 549,985 | $8.0M | Reduce -5.7% |
| AVR Anteris Technologies Global | 4.22% | 700,000 | $6.9M | No change |
| EDSA Edesa Biotech Inc. | 4.12% | 827,500 | $6.7M | No change |
| EVMN Evommune Inc. | 3.67% | 451,255 | $6.0M | Add +1.1% |
| AVTX Avalo Therapeutics Inc. | 3.67% | 324,452 | $6.0M | Add +75.3% |
| XNCR Xencor Inc. | 2.52% | 255,000 | $4.1M | Add +2.0% |
| RZLT Rezolute Inc. | 2.39% | 750,000 | $3.9M | No change |
| HRTX Heron Therapeutics Inc. | 2.29% | 8,753,290 | $3.7M | No change |
| VRCA Verrica Pharmaceuticals Inc. | 1.77% | 471,559 | $2.9M | No change |
| CCCC C4 Therapeutics Inc. | 1.63% | 570,000 | $2.7M | New |
| EPRX Eupraxia Pharmaceuticals Inc. | 1.43% | 352,000 | $2.3M | No change |
| ADMA Adma Biologics Inc. | 1.28% | 250,000 | $2.1M | New |
| RNTX Rein Therapeutics Inc. | 1.08% | 1,700,000 | $1.8M | New |
| LYEL Lyell Immunopharma Inc. | 0.90% | 105,000 | $1.5M | Add +2.9% |
| NSRX Nasus Pharma Ltd. | 0.77% | 359,390 | $1.3M | No change |
| PROF Profound Medical Corp. | 0.69% | 170,278 | $1.1M | Reduce -40.4% |
| JSPR Jasper Therapeutics Inc. | 0.69% | 2,668,395 | $1.1M | No change |
| PTGX Protagonist Therapeutics Inc. | 0.28% | 3,700 | $454K | No change |
| CTMX Cytomx Therapeutics Inc. | 0.28% | 120,000 | $450K | Reduce -77.8% |
| NMRA Neumora Therapeutics Inc. | 0.24% | 230,000 | $391K | Add +187.5% |
| NRIX Nurix Therapeutics Inc. | 0.24% | 16,000 | $388K | No change |
| OVID Ovid Therapeutics Inc. | 0.21% | 130,000 | $350K | Reduce -18.8% |
| DTIL Precision Biosciences Inc. | 0.19% | 40,000 | $314K | No change |
| MLYS Mineralys Therapeutics Inc. | 0.18% | 11,000 | $297K | No change |
| MGNX Macrogenics Inc. | 0.17% | 60,000 | $277K | Add +100.0% |
| CRBP Corbus Pharmaceuticals Holdi | 0.15% | 26,000 | $244K | No change |
| ARTV Artiva Biotherapeutics Inc. | 0.15% | 25,000 | $243K | No change |
| REPL Replimune Group Inc. | 0.14% | 20,000 | $221K | No change |
| SNDX Syndax Pharmaceuticals Inc. | 0.13% | 10,000 | $219K | No change |
| IMNM Immunome Inc. | 0.13% | 10,000 | $212K | No change |
| TECX Tectonic Therapeutic Inc. | 0.13% | 6,000 | $206K | New |
| RCKT Rocket Pharmaceuticals Inc. | 0.13% | 60,000 | $205K | Reduce -79.6% |
| KPTI Karyopharm Therapeutics Inc. | 0.12% | 20,000 | $195K | Add +33.3% |
| ANTX AN2 Therapeutics Inc. | 0.12% | 40,000 | $194K | New |
| VRDN Viridian Therapeutics Inc. | 0.11% | 10,000 | $184K | Reduce -89.0% |
| SCYX Scynexis Inc. | 0.10% | 40,000 | $163K | New |
| QNRX Quoin Pharmaceuticals LT-ADR | 0.10% | 32,372 | $157K | Reduce -61.9% |
| XLO Xilio Therapeutics Inc. | 0.08% | 14,285 | $137K | No change |
| NSPR Inspiremd Inc. | 0.06% | 148,138 | $104K | Reduce -92.9% |
| KLRS Kalaris Therapeutics Inc. | 0.06% | 25,000 | $102K | Add +38.9% |
| LRMR Larimar Therapeutics Inc. | 0.06% | 33,000 | $101K | No change |
| PRQR Proqr Therapeutics NV | 0.05% | 45,000 | $84K | No change |
| CNTX Context Therapeutics Inc. | 0.02% | 59,700 | $33K | Reduce -40.3% |
| GOSS Gossamer Bio Inc. | 0.01% | 70,000 | $12K | No change |
Options reported separately and not counted above: TENX calls ($1000K).
Portfolio Sells Q1 2026 → Q2 2026
| ESPR Esperion Therapeutics Inc. | Sold out | 0.00% | −2.95 |
| PRAX Praxis Precision Medicines I | Reduce -11.9% | 18.21% | −2.13 |
| NSPR Inspiremd Inc. | Reduce -92.9% | 0.06% | −2.08 |
| CTMX Cytomx Therapeutics Inc. | Reduce -77.8% | 0.28% | −1.31 |
| VRDN Viridian Therapeutics Inc. | Reduce -89.0% | 0.11% | −1.00 |
| TENX Tenax Therapeutics Inc. | Reduce -5.7% | 4.90% | −0.94 |
| KZIA Kazia Therapeutics-Spon ADR | Sold out | 0.00% | −0.63 |
| RCKT Rocket Pharmaceuticals Inc. | Reduce -79.6% | 0.13% | −0.54 |
| PROF Profound Medical Corp. | Reduce -40.4% | 0.69% | −0.47 |
| ARWR Arrowhead Pharmaceuticals Inc. | Sold out | 0.00% | −0.26 |
| QNRX Quoin Pharmaceuticals LT-ADR | Reduce -61.9% | 0.10% | −0.25 |
| CNTX Context Therapeutics Inc. | Reduce -40.3% | 0.02% | −0.14 |
| DSGN Design Therapeutics Inc. | Sold out | 0.00% | −0.13 |
| PMVP PMV Pharmaceuticals Inc. | Sold out | 0.00% | −0.06 |
| ABVX Abivax SA-ADR | Reduce -14.8% | 5.36% | −0.01 |
| OVID Ovid Therapeutics Inc. | Reduce -18.8% | 0.21% | −0.01 |
Portfolio Buys Q1 2026 → Q2 2026
| IMMX Immix Biopharma Inc. | Add +46.6% | 6.85% | +2.63 |
| AVTX Avalo Therapeutics Inc. | Add +75.3% | 3.67% | +1.94 |
| CCCC C4 Therapeutics Inc. | New | 1.63% | +1.63 |
| ADMA Adma Biologics Inc. | New | 1.28% | +1.28 |
| RNTX Rein Therapeutics Inc. | New | 1.08% | +1.08 |
| XNCR Xencor Inc. | Add +2.0% | 2.52% | +0.63 |
| NMRA Neumora Therapeutics Inc. | Add +187.5% | 0.24% | +0.14 |
| TECX Tectonic Therapeutic Inc. | New | 0.13% | +0.13 |
| ANTX AN2 Therapeutics Inc. | New | 0.12% | +0.12 |
| MGNX Macrogenics Inc. | Add +100.0% | 0.17% | +0.12 |
| SCYX Scynexis Inc. | New | 0.10% | +0.10 |
| KPTI Karyopharm Therapeutics Inc. | Add +33.3% | 0.12% | +0.07 |
| KLRS Kalaris Therapeutics Inc. | Add +38.9% | 0.06% | −0.00 |
| LYEL Lyell Immunopharma Inc. | Add +2.9% | 0.90% | −0.38 |
| TARA Protara Therapeutic Inc. | Add +0.3% | 6.66% | −2.59 |
| EVMN Evommune Inc. | Add +1.1% | 3.67% | −2.75 |
Options Activity Q1 2026 → Q2 2026
| TENX Tenax Therapeutics Inc. | call | New | 68,700 | $1000K |
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 | 50 | $163.2M | PRAX, MPLT, STRO, IMMX, TARA |
| Q1 2026 | 49 | $159.6M | PRAX, TARA, STRO, EVMN, MPLT |
| Q4 2025 | 45 | $171.9M | PRAX, CDTX, TARA, HRTX, MPLT |
| Q3 2025 | 49 | $106.5M | HRTX, CDTX, TARA, RZLT, PRAX |
| Q2 2025 | 49 | $99.9M | HRTX, VRNA, JSPR, TARA, ZVRA |
| Q1 2025 | 47 | $97.2M | HRTX, SLRN, SWTX, TARA, PRAX |
| Q4 2024 | 45 | $115.9M | JSPR, PRAX, HRTX, TRML, TARA |
| Q3 2024 | 17 | $92.1M | JSPR, PRAX, HRTX, TRML, RZLT |
| Q2 2024 | 17 | $174.6M | ALIM, JSPR, HRTX, PRAX, TRML |
| Q1 2024 | 19 | $184.9M | ALIM, JSPR, PRAX, HRTX, ADMA |