Velan Capital Investment Management LP
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 14, 2024), Velan Capital Investment Management LP reported 19 stock positions worth $184.9 million. Its top holding was Alimera Sciences (ALIM) at 28.7% of the portfolio, followed by Jasper Therapeutics (JSPR, 22.8%) and Praxis Precision Medicines I (PRAX, 11.6%). Compared with Q4 2023, it opened 7 new positions, sold out of 7, added to 2 and reduced 3. The biggest buy was a new position in Jasper Therapeutics (JSPR) and the biggest sale an exit from Jasper Therapeutics (JSPR).
- Most Recent 13F
- Q2 2026
- Location
- ALPHARETTA, GA
- CIK
- 0001848809
- Portfolio Value
- $184.9M (Q1 2024)
- SEC Filing
- 0001848809-24-000006 ↗ filed May 14, 2024
Holdings Value
Holdings 19 stocks · $184.9M
| ALIM Alimera Sciences Inc. | 28.70% | 13,608,533 | $53.1M | No change |
| JSPR Jasper Therapeutics Inc. | 22.76% | 1,471,904 | $42.1M | New |
| PRAX Praxis Precision Medicines I | 11.57% | 350,666 | $21.4M | Add +1.4% |
| HRTX Heron Therapeutics Inc. | 10.46% | 6,986,744 | $19.4M | No change |
| ADMA Adma Biologics Inc. | 5.46% | 1,528,601 | $10.1M | Reduce -28.4% |
| TRML Tourmaline Bio Inc. | 3.95% | 319,080 | $7.3M | No change |
| OTLK Outlook Therapeutics Inc. | 3.23% | 500,000 | $6.0M | New |
| OPTINOSE INC | 2.37% | 3,001,191 | $4.4M | Reduce -21.0% |
| TELA Tela Bio Inc. | 2.29% | 746,087 | $4.2M | Add +862.7% |
| INSP Inspire Medical Systems Inc. | 2.09% | 18,000 | $3.9M | No change |
| AQST Aquestive Therapeutics Inc. | 1.38% | 600,000 | $2.6M | New |
| ELEV Elevation Oncology Inc. | 1.38% | 497,299 | $2.6M | No change |
| NSPR Inspiremd Inc. | 1.16% | 904,029 | $2.1M | No change |
| GERN Geron Corp. | 0.89% | 500,000 | $1.6M | Reduce -35.8% |
| MIST Milestone Pharmaceuticals Inc. | 0.63% | 650,000 | $1.2M | New |
| RZLT Rezolute Inc. | 0.55% | 400,000 | $1.0M | New |
| NVNO Envveno Medical Corporation | 0.51% | 172,235 | $937K | No change |
| KPRX Kiora Pharmaceuticals Inc. | 0.42% | 1,100,000 | $777K | New |
| ASLAN PHARMACEUTICALS LTD | 0.21% | 625,000 | $385K | New |
Options reported separately and not counted above: IWM puts ($21.0M), XBI puts ($14.2M).
Portfolio Sells Q4 2023 → Q1 2024
| JSPR Jasper Therapeutics Inc. | Sold out | 0.00% | −6.06 |
| IMGN Immunogen Inc. | Sold out | 0.00% | −3.98 |
| ROIV Roivant Sciences Ltd. | Sold out | 0.00% | −3.98 |
| LNTH Lantheus Holdings Inc. | Sold out | 0.00% | −3.29 |
| APLS Apellis Pharmaceuticals Inc. | Sold out | 0.00% | −2.12 |
| ADMA Adma Biologics Inc. | Reduce -28.4% | 5.46% | −1.38 |
| ACRS Aclaris Therapeutics Inc. | Sold out | 0.00% | −1.31 |
| OPTINOSE INC | Reduce -21.0% | 2.37% | −1.10 |
| IMVT Immunovant Inc. | Sold out | 0.00% | −0.82 |
| GERN Geron Corp. | Reduce -35.8% | 0.89% | −0.27 |
Portfolio Buys Q4 2023 → Q1 2024
| JSPR Jasper Therapeutics Inc. | New | 22.76% | +22.76 |
| PRAX Praxis Precision Medicines I | Add +1.4% | 11.57% | +6.12 |
| OTLK Outlook Therapeutics Inc. | New | 3.23% | +3.23 |
| TELA Tela Bio Inc. | Add +862.7% | 2.29% | +1.92 |
| AQST Aquestive Therapeutics Inc. | New | 1.38% | +1.38 |
| MIST Milestone Pharmaceuticals Inc. | New | 0.63% | +0.63 |
| RZLT Rezolute Inc. | New | 0.55% | +0.55 |
| KPRX Kiora Pharmaceuticals Inc. | New | 0.42% | +0.42 |
| ASLAN PHARMACEUTICALS LTD | New | 0.21% | +0.21 |
Options Activity Q4 2023 → Q1 2024
| IWM iShares Russell 2000 ETF | put | Reduce -33.3% | 100,000 | $21.0M |
| XBI SS SPDR S&P Biotech ETF | put | New | 150,000 | $14.2M |
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 |