Velan Capital Investment Management LP
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Velan Capital Investment Management LP reported 17 stock positions worth $174.6 million. Its top holding was Alimera Sciences (ALIM) at 43.3% of the portfolio, followed by Jasper Therapeutics (JSPR, 18.6%) and Heron Therapeutics (HRTX, 14.0%). Compared with Q1 2024, it opened 4 new positions, sold out of 6, added to 2 and reduced 3. The biggest buy was a new position in Skye Bioscience (SKYE) and the biggest sale an exit from Adma Biologics (ADMA).
- Most Recent 13F
- Q2 2026
- Location
- ALPHARETTA, GA
- CIK
- 0001848809
- Portfolio Value
- $174.6M (Q2 2024)
- SEC Filing
- 0001848809-24-000007 ↗ filed Aug 14, 2024
Holdings Value
Holdings 17 stocks · $174.6M
| ALIM Alimera Sciences Inc. | 43.35% | 13,608,533 | $75.7M | No change |
| JSPR Jasper Therapeutics Inc. | 18.65% | 1,471,904 | $32.5M | No change |
| HRTX Heron Therapeutics Inc. | 14.01% | 6,986,744 | $24.5M | No change |
| PRAX Praxis Precision Medicines I | 8.31% | 350,666 | $14.5M | No change |
| TRML Tourmaline Bio Inc. | 2.35% | 319,080 | $4.1M | No change |
| TELA Tela Bio Inc. | 2.01% | 746,087 | $3.5M | No change |
| RZLT Rezolute Inc. | 1.97% | 800,000 | $3.4M | Add +100.0% |
| SKYE Skye Bioscience Inc. | 1.94% | 422,142 | $3.4M | New |
| OPTINOSE INC | 1.49% | 2,492,830 | $2.6M | Reduce -16.9% |
| CNTX Context Therapeutics Inc. | 1.48% | 1,290,323 | $2.6M | New |
| NSPR Inspiremd Inc. | 1.29% | 904,029 | $2.3M | No change |
| OTLK Outlook Therapeutics Inc. | 1.04% | 247,084 | $1.8M | Reduce -50.6% |
| ELEV Elevation Oncology Inc. | 0.92% | 597,299 | $1.6M | Add +20.1% |
| TARA Protara Therapeutic Inc. | 0.57% | 480,000 | $998K | New |
| KPRX Kiora Pharmaceuticals Inc. | 0.29% | 122,223 | $513K | Reduce -3.6% |
| XFOR X4 Pharmaceuticals Inc. | 0.22% | 659,020 | $382K | New |
| ASLAN PHARMACEUTICALS LTD | 0.11% | 625,000 | $188K | No change |
Portfolio Sells Q1 2024 → Q2 2024
| ADMA Adma Biologics Inc. | Sold out | 0.00% | −5.46 |
| OTLK Outlook Therapeutics Inc. | Reduce -50.6% | 1.04% | −2.18 |
| INSP Inspire Medical Systems Inc. | Sold out | 0.00% | −2.09 |
| AQST Aquestive Therapeutics Inc. | Sold out | 0.00% | −1.38 |
| GERN Geron Corp. | Sold out | 0.00% | −0.89 |
| OPTINOSE INC | Reduce -16.9% | 1.49% | −0.88 |
| MIST Milestone Pharmaceuticals Inc. | Sold out | 0.00% | −0.63 |
| NVNO Envveno Medical Corporation | Sold out | 0.00% | −0.51 |
| KPRX Kiora Pharmaceuticals Inc. | Reduce -3.6% | 0.29% | −0.13 |
Portfolio Buys Q1 2024 → Q2 2024
Options Activity Q1 2024 → Q2 2024
| IWM iShares Russell 2000 ETF | put | Sold out | 100,000 | $21.0Mbefore exit |
| XBI SS SPDR S&P Biotech ETF | put | Sold out | 150,000 | $14.2Mbefore 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 | 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 |