Velan Capital Investment Management LP
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Velan Capital Investment Management LP reported 17 stock positions worth $92.1 million. Its top holding was Jasper Therapeutics (JSPR) at 29.3% of the portfolio, followed by Praxis Precision Medicines I (PRAX, 21.9%) and Heron Therapeutics (HRTX, 15.1%). Compared with Q2 2024, it opened 5 new positions, sold out of 5, added to 3 and reduced 3. The biggest buy was Tourmaline Bio (TRML, shares +4%) and the biggest sale an exit from Alimera Sciences (ALIM).
- Most Recent 13F
- Q2 2026
- Location
- ALPHARETTA, GA
- CIK
- 0001848809
- Portfolio Value
- $92.1M (Q3 2024)
- SEC Filing
- 0001848809-24-000011 ↗ filed Nov 14, 2024
Holdings Value
Holdings 17 stocks · $92.1M
| JSPR Jasper Therapeutics Inc. | 29.28% | 1,433,828 | $27.0M | Reduce -2.6% |
| PRAX Praxis Precision Medicines I | 21.90% | 350,666 | $20.2M | No change |
| HRTX Heron Therapeutics Inc. | 15.09% | 6,986,744 | $13.9M | No change |
| TRML Tourmaline Bio Inc. | 9.24% | 331,190 | $8.5M | Add +3.8% |
| RZLT Rezolute Inc. | 4.21% | 800,000 | $3.9M | No change |
| LQDA Liquidia Corp. | 3.26% | 300,000 | $3.0M | New |
| CNTX Context Therapeutics Inc. | 2.75% | 1,290,323 | $2.5M | No change |
| NSPR Inspiremd Inc. | 2.63% | 904,029 | $2.4M | No change |
| SCPH Scpharmaceuticals Inc. | 2.56% | 517,668 | $2.4M | New |
| TELA Tela Bio Inc. | 2.05% | 747,410 | $1.9M | Add +0.2% |
| OPTINOSE INC | 1.56% | 2,146,608 | $1.4M | Reduce -13.9% |
| ZVRA Zevra Therapeutics Inc. | 1.51% | 200,000 | $1.4M | New |
| TARA Protara Therapeutic Inc. | 1.14% | 574,000 | $1.1M | Add +19.6% |
| CRBP Corbus Pharmaceuticals Holdi | 1.12% | 50,000 | $1.0M | New |
| SKYE Skye Bioscience Inc. | 0.90% | 211,071 | $825K | Reduce -50.0% |
| KPRX Kiora Pharmaceuticals Inc. | 0.49% | 122,223 | $447K | No change |
| TENX Tenax Therapeutics Inc. | 0.31% | 83,333 | $288K | New |
Options reported separately and not counted above: XBI calls ($14.8M).
Portfolio Sells Q2 2024 → Q3 2024
| ALIM Alimera Sciences Inc. | Sold out | 0.00% | −43.35 |
| OTLK Outlook Therapeutics Inc. | Sold out | 0.00% | −1.04 |
| SKYE Skye Bioscience Inc. | Reduce -50.0% | 0.90% | −1.04 |
| ELEV Elevation Oncology Inc. | Sold out | 0.00% | −0.92 |
| XFOR X4 Pharmaceuticals Inc. | Sold out | 0.00% | −0.22 |
| ASLAN PHARMACEUTICALS LTD | Sold out | 0.00% | −0.11 |
| OPTINOSE INC | Reduce -13.9% | 1.56% | +0.08 |
| JSPR Jasper Therapeutics Inc. | Reduce -2.6% | 29.28% | +10.63 |
Portfolio Buys Q2 2024 → Q3 2024
| TRML Tourmaline Bio Inc. | Add +3.8% | 9.24% | +6.89 |
| LQDA Liquidia Corp. | New | 3.26% | +3.26 |
| SCPH Scpharmaceuticals Inc. | New | 2.56% | +2.56 |
| ZVRA Zevra Therapeutics Inc. | New | 1.51% | +1.51 |
| CRBP Corbus Pharmaceuticals Holdi | New | 1.12% | +1.12 |
| TARA Protara Therapeutic Inc. | Add +19.6% | 1.14% | +0.57 |
| TENX Tenax Therapeutics Inc. | New | 0.31% | +0.31 |
| TELA Tela Bio Inc. | Add +0.2% | 2.05% | +0.04 |
Options Activity Q2 2024 → Q3 2024
| XBI SS SPDR S&P Biotech ETF | call | New | 150,000 | $14.8M |
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 |