Ikarian Capital, LLC
CIK 0001778253
Annualised vol
10.242311%
Beta
0.149256
HHI
208.401595
Top-10 weight
36.984865%
VaR 95%
0.931616%
VaR 99%
1.873899%
Max drawdown
26.864002%
Matched value
69.4682%
Returns of reported holdings
Loading returns…
Position changes vs prior quarter
What the latest 13F shows bought and sold against the quarter before, by share count.
| Ticker | Change | Shares now | Shares before | Share change % | Value now ($) |
|---|---|---|---|---|---|
| IONS | ADDED | 700,000 | 239,138 | 192.72% | 55,503,000 |
| KOD | REDUCED | 1,277,430 | 1,365,795 | -6.47% | 49,768,672 |
| ALMS | REDUCED | 1,226,848 | 1,478,148 | -17.0% | 34,523,502 |
| MRNA | NEW | 400,000 | - | - | 28,012,000 |
| CAPR | ADDED | 954,215 | 878,015 | 8.68% | 22,977,497 |
| PCVX | REDUCED | 388,682 | 428,682 | -9.33% | 22,594,085 |
| ANIP | REDUCED | 272,085 | 297,085 | -8.42% | 22,523,196 |
| CLDX | ADDED | 592,500 | 575,247 | 3.0% | 22,046,925 |
| TENX | ADDED | 1,177,200 | 1,131,900 | 4.0% | 17,128,260 |
| VERA | ADDED | 381,700 | 271,700 | 40.49% | 16,378,747 |
| RCUS | NEW | 504,559 | - | - | 15,555,555 |
| RLMD | REDUCED | 2,148,359 | 2,688,359 | -20.09% | 14,866,644 |
| COGT | NEW | 370,084 | - | - | 14,322,251 |
| CTNM | UNCHANGED | 807,874 | 807,874 | 0.0% | 13,241,056 |
| CCCC | NEW | 2,433,000 | - | - | 11,362,110 |
| MAZE | REDUCED | 378,999 | 393,399 | -3.66% | 11,309,331 |
| BHVN | ADDED | 748,181 | 412,481 | 81.39% | 11,132,933 |
| ANRO | REDUCED | 407,338 | 515,000 | -20.91% | 10,749,651 |
| PHVS | REDUCED | 308,856 | 486,856 | -36.56% | 10,680,241 |
| EYPT | UNCHANGED | 740,800 | 740,800 | 0.0% | 10,593,440 |
| JBIO | REDUCED | 427,349 | 512,349 | -16.59% | 9,495,694 |
| DMRA | UNCHANGED | 335,710 | 335,710 | 0.0% | 8,731,816 |
| QTTB | NEW | 630,000 | - | - | 8,026,200 |
| OLMA | REDUCED | 583,281 | 1,148,081 | -49.2% | 7,296,845 |
| PTHS | UNCHANGED | 256,598 | 256,598 | 0.0% | 7,251,459 |
| ZURA | ADDED | 1,218,492 | 1,193,492 | 2.09% | 7,189,102 |
| TECX | ADDED | 205,837 | 157,537 | 30.66% | 7,075,647 |
| SPRB | UNCHANGED | 121,356 | 121,356 | 0.0% | 6,553,224 |
| HIMS | NEW | 188,381 | - | - | 6,531,170 |
| ELVN | ADDED | 126,541 | 83,700 | 51.18% | 6,421,957 |
| DRUG | REDUCED | 88,951 | 166,647 | -46.62% | 6,244,361 |
| OVID | REDUCED | 2,269,704 | 2,894,704 | -21.59% | 6,105,503 |
| OCGN | UNCHANGED | 3,962,972 | 3,962,972 | 0.0% | 6,063,348 |
| ACOG | REDUCED | 836,259 | 1,056,259 | -20.83% | 6,037,790 |
| KYMR | UNCHANGED | 50,400 | 50,400 | 0.0% | 5,779,368 |
| HROW | REDUCED | 135,775 | 543,047 | -75.0% | 5,766,364 |
| KZIA | NEW | 396,201 | - | - | 5,578,510 |
| EPRX | REDUCED | 809,741 | 1,214,741 | -33.34% | 5,352,388 |
| BIOA | NEW | 200,000 | - | - | 4,901,999 |
| RZLT | ADDED | 935,012 | 16,479 | 5573.96% | 4,862,062 |
| SION | NEW | 107,500 | - | - | 4,728,925 |
| MNPR | NEW | 47,861 | - | - | 4,431,450 |
| BBIO | REDUCED | 57,417 | 218,620 | -73.74% | 4,276,418 |
| ABSI | NEW | 353,772 | - | - | 4,100,217 |
| ALEC | REDUCED | 1,982,606 | 2,082,606 | -4.8% | 3,985,038 |
| CLYM | NEW | 300,000 | - | - | 3,912,000 |
| FULC | UNCHANGED | 1,049,161 | 1,049,161 | 0.0% | 3,839,929 |
| CRDL | ADDED | 3,325,000 | 2,725,000 | 22.02% | 3,524,500 |
| CUE | NEW | 104,364 | - | - | 3,293,728 |
| RNTX | NEW | 2,950,000 | - | - | 3,068,000 |
| ARVN | UNCHANGED | 358,257 | 358,257 | 0.0% | 2,977,115 |
| ABOS | UNCHANGED | 1,053,797 | 1,053,797 | 0.0% | 2,813,638 |
| PMN | ADDED | 205,000 | 55,000 | 272.73% | 2,697,801 |
| ANNX | REDUCED | 430,244 | 580,244 | -25.85% | 2,456,693 |
| BMY | REDUCED | 42,500 | 500,000 | -91.5% | 2,448,850 |
| LXEO | UNCHANGED | 513,011 | 513,011 | 0.0% | 2,388,066 |
| IVVD | UNCHANGED | 2,656,570 | 2,656,570 | 0.0% | 2,317,592 |
| CABA | REDUCED | 700,000 | 900,000 | -22.22% | 2,177,000 |
| NMRA | UNCHANGED | 1,278,408 | 1,278,408 | 0.0% | 2,173,294 |
| AMLX | NEW | 117,500 | - | - | 2,110,301 |
| TARS | UNCHANGED | 31,166 | 31,166 | 0.0% | 1,961,588 |
| IRON | NEW | 26,600 | - | - | 1,945,524 |
| SLN | REDUCED | 830,784 | 865,784 | -4.04% | 1,827,725 |
| DBVT | UNCHANGED | 525,000 | 525,000 | 0.0% | 1,690,953 |
| IBIO | UNCHANGED | 957,062 | 957,062 | 0.0% | 1,674,859 |
| AVTX | REDUCED | 90,183 | 560,000 | -83.9% | 1,666,581 |
| AVR | REDUCED | 166,571 | 366,571 | -54.56% | 1,640,724 |
| PALI | ADDED | 750,000 | 274,978 | 172.75% | 1,567,500 |
| AMAN | NEW | 150,000 | - | - | 1,524,000 |
| KLRS | UNCHANGED | 360,000 | 360,000 | 0.0% | 1,465,201 |
| QNCX | NEW | 72,251 | - | - | 1,314,245 |
| LPCN | UNCHANGED | 508,556 | 508,556 | 0.0% | 1,301,902 |
| IMNM | NEW | 60,000 | - | - | 1,271,401 |
| ELTX | NEW | 314,200 | - | - | 1,228,522 |
| PLRX | NEW | 1,000,000 | - | - | 1,140,000 |
| IMUX | REDUCED | 67,464 | 674,662 | -90.0% | 1,036,922 |
| QNRX | UNCHANGED | 211,538 | 211,538 | 0.0% | 1,023,844 |
| EQ | UNCHANGED | 303,555 | 303,555 | 0.0% | 971,376 |
| STIM | UNCHANGED | 701,182 | 701,182 | 0.0% | 911,537 |
| FTH | NEW | 35,386 | - | - | 884,650 |
| GUTS | UNCHANGED | 1,100,000 | 1,100,000 | 0.0% | 873,840 |
| HELP | UNCHANGED | 132,153 | 132,153 | 0.0% | 873,532 |
| TRAX | NEW | 42,775 | - | - | 860,633 |
| VSTM | UNCHANGED | 213,865 | 213,865 | 0.0% | 816,965 |
| PEPG | REDUCED | 447,165 | 747,165 | -40.15% | 804,897 |
| ACAD | UNCHANGED | 28,099 | 28,099 | 0.0% | 710,905 |
| CNSP | ADDED | 135,830 | 45,830 | 196.38% | 649,267 |
| LYEL | UNCHANGED | 41,081 | 41,081 | 0.0% | 577,188 |
| WVE | UNCHANGED | 85,285 | 85,285 | 0.0% | 495,507 |
| IMTX | UNCHANGED | 48,569 | 48,569 | 0.0% | 492,003 |
| PASG | ADDED | 99,517 | 68,124 | 46.08% | 485,643 |
| NXTC | ADDED | 288,303 | 238,303 | 20.98% | 461,284 |
| SLDB | REDUCED | 42,956 | 264,409 | -83.75% | 429,130 |
| TRAW | REDUCED | 478,142 | 678,142 | -29.49% | 403,217 |
| LXRX | UNCHANGED | 164,674 | 164,674 | 0.0% | 395,218 |
| ANL | UNCHANGED | 33,899 | 33,899 | 0.0% | 389,839 |
| INM | NEW | 245,025 | - | - | 379,788 |
| VKTX | UNCHANGED | 9,717 | 9,717 | 0.0% | 379,061 |
| MGNX | UNCHANGED | 74,893 | 74,893 | 0.0% | 346,006 |
| PURR | UNCHANGED | 30,001 | 30,001 | 0.0% | 236,108 |
| RNAC | UNCHANGED | 20,807 | 20,807 | 0.0% | 216,809 |
| CMPS | REDUCED | 15,000 | 675,000 | -97.78% | 212,250 |
| NEUP | UNCHANGED | 47,443 | 47,443 | 0.0% | 207,326 |
| VYGR | UNCHANGED | 53,063 | 53,063 | 0.0% | 185,722 |
| BCRX | NEW | 16,756 | - | - | 167,560 |
| ENVB | NEW | 100,002 | - | - | 138,003 |
| PMVP | UNCHANGED | 89,136 | 89,136 | 0.0% | 119,442 |
| VTGN | UNCHANGED | 519,077 | 519,077 | 0.0% | 117,311 |
| CMMB | UNCHANGED | 51,793 | 51,793 | 0.0% | 83,904 |
| AIRS | UNCHANGED | 16,398 | 16,398 | 0.0% | 73,792 |
| MGRX | UNCHANGED | 138,146 | 138,146 | 0.0% | 52,496 |
| CMPX | UNCHANGED | 18,000 | 18,000 | 0.0% | 39,419 |
| TOVX | UNCHANGED | 112,076 | 112,076 | 0.0% | 28,041 |
| GCTK | UNCHANGED | 45,830 | 45,830 | 0.0% | 14,621 |
| JSPR | UNCHANGED | 24,093 | 24,093 | 0.0% | 10,144 |
| KPTI | CLOSED OUT | 0 | 2,573,435 | -100.0% | 0 |
| CYTK | CLOSED OUT | 0 | 1,242,472 | -100.0% | 0 |
| SGMOQ | CLOSED OUT | 0 | 1,218,671 | -100.0% | 0 |
| NVO | CLOSED OUT | 0 | 400,000 | -100.0% | 0 |
| REPL | CLOSED OUT | 0 | 300,000 | -100.0% | 0 |
| VIR | CLOSED OUT | 0 | 293,258 | -100.0% | 0 |
| RVMD | CLOSED OUT | 0 | 258,142 | -100.0% | 0 |
| ORKA | CLOSED OUT | 0 | 242,021 | -100.0% | 0 |
| LEGN | CLOSED OUT | 0 | 226,888 | -100.0% | 0 |
| VERU | CLOSED OUT | 0 | 133,517 | -100.0% | 0 |
| DFTX | CLOSED OUT | 0 | 58,803 | -100.0% | 0 |
| JAZZ | CLOSED OUT | 0 | 12,460 | -100.0% | 0 |
| LLY | CLOSED OUT | 0 | 6,547 | -100.0% | 0 |
| INSM | CLOSED OUT | 0 | 4,214 | -100.0% | 0 |
Holdings (latest quarter)
| Ticker | Change | Issuer | Class | CUSIP | Value ($) | Weight % | Shares |
|---|---|---|---|---|---|---|---|
| - | SPDR SERIES TRUST | ST STR SP BIOT | 78464A870 | 47,475,000 | 5.11 | 300000.0 | |
| - | ABIVAX SA | SPONSORED ADS | 00370M103 | 45,454,986 | 4.9 | 341100.0 | |
| - | ABIVAX SA | SPONSORED ADS | 00370M103 | 43,352,978 | 4.67 | 328635.0 | |
| KOD | REDUCED | KODIAK SCIENCES INC | COM | 50015M109 | 41,287,080 | 4.45 | 1059730.0 |
| - | ABIVAX SA | SPONSORED ADS | 00370M103 | 33,315,000 | 3.59 | 250000.0 | |
| IONS | ADDED | IONIS PHARMACEUTICALS INC | COM | 462222100 | 31,716,000 | 3.42 | 400000.0 |
| MRNA | NEW | MODERNA INC | COM | 60770K107 | 28,012,000 | 3.02 | 400000.0 |
| ALMS | REDUCED | ALUMIS INC | COM | 022307102 | 24,497,220 | 2.64 | 870548.0 |
| - | PRAXIS PRECISION MEDICINES I | COM NEW | 74006W207 | 24,386,773 | 2.63 | 72842.0 | |
| IONS | ADDED | IONIS PHARMACEUTICALS INC | COM | 462222100 | 23,787,000 | 2.56 | 300000.0 |
| PCVX | REDUCED | VAXCYTE INC | COM | 92243G108 | 22,594,085 | 2.43 | 388682.0 |
| ANIP | REDUCED | ANI PHARMACEUTICALS INC | COM | 00182C103 | 22,523,196 | 2.43 | 272085.0 |
| CLDX | ADDED | CELLDEX THERAPEUTICS INC NEW | COM NEW | 15117B202 | 17,804,985 | 1.92 | 478500.0 |
| RCUS | NEW | ARCUS BIOSCIENCES INC | COM | 03969F109 | 15,555,555 | 1.68 | 504559.0 |
| RLMD | REDUCED | RELMADA THERAPEUTICS INC | COM | 75955J402 | 14,866,644 | 1.6 | 2148359.0 |
| CAPR | ADDED | CAPRICOR THERAPEUTICS INC | COM NEW | 14070B309 | 14,549,497 | 1.57 | 604215.0 |
| COGT | NEW | COGENT BIOSCIENCES INC | COM | 19240Q201 | 14,322,251 | 1.54 | 370084.0 |
| - | NEWAMSTERDAM PHARMA COMPANY | PUT | N62509959 | 13,556,000 | 1.46 | 400000.0 | |
| VERA | ADDED | VERA THERAPEUTICS INC | CL A | 92337R101 | 13,302,100 | 1.43 | 310000.0 |
| CTNM | UNCHANGED | CONTINEUM THERAPEUTICS INC | CL A | 21217B100 | 13,241,056 | 1.43 | 807874.0 |
| TENX | ADDED | TENAX THERAPEUTICS INC | COM NEW | 88032L605 | 11,459,580 | 1.23 | 787600.0 |
| CCCC | NEW | C4 THERAPEUTICS INC | COM STK | 12529R107 | 11,362,110 | 1.22 | 2433000.0 |
| MAZE | REDUCED | MAZE THERAPEUTICS INC | COM | 578784100 | 11,309,331 | 1.22 | 378999.0 |
| BHVN | ADDED | BIOHAVEN LTD | COM | G1110E107 | 11,132,933 | 1.2 | 748181.0 |
| - | CONNECT BIOPHARMA HLDGS LTD | SHS | G23549101 | 10,801,710 | 1.16 | 4538534.0 | |
| ANRO | REDUCED | ALTO NEUROSCIENCE INC | COM SHS | 02157Q109 | 10,749,651 | 1.16 | 407338.0 |
| PHVS | REDUCED | PHARVARIS N V | COM | N69605108 | 10,680,241 | 1.15 | 308856.0 |
| ALMS | REDUCED | ALUMIS INC | COM | 022307102 | 10,026,282 | 1.08 | 356300.0 |
| JBIO | REDUCED | JADE BIOSCIENCES INC | COM NEW | 008064206 | 9,495,694 | 1.02 | 427349.0 |
| DMRA | UNCHANGED | DAMORA THERAPEUTICS INC | COM NEW | 36322Q206 | 8,731,816 | 0.94 | 335710.0 |
| KOD | REDUCED | KODIAK SCIENCES INC | COM | 50015M109 | 8,481,592 | 0.91 | 217700.0 |
| CAPR | ADDED | CAPRICOR THERAPEUTICS INC | COM NEW | 14070B309 | 8,428,000 | 0.91 | 350000.0 |
| - | ARROWHEAD PHARMACEUTICALS IN | COM | 04280A100 | 8,151,000 | 0.88 | 100000.0 | |
| - | VIRIDIAN THERAPEUTICS INC | COM | 92790C104 | 7,807,251 | 0.84 | 425000.0 | |
| PTHS | UNCHANGED | PELTHOS THERAPEUTICS INC | COM SHS | 171126204 | 7,251,459 | 0.78 | 256598.0 |
| ZURA | ADDED | ZURA BIO LTD | CLASS A ORD SHS | G9TY5A101 | 7,189,102 | 0.77 | 1218492.0 |
| TECX | ADDED | TECTONIC THERAPEUTIC INC | COM | 878972108 | 7,075,647 | 0.76 | 205837.0 |
| - | PRAXIS PRECISION MEDICINES I | COM NEW | 74006W207 | 6,695,800 | 0.72 | 20000.0 | |
| SPRB | UNCHANGED | SPRUCE BIOSCIENCES INC | COM NEW | 85209E208 | 6,553,224 | 0.71 | 121356.0 |
| HIMS | NEW | HIMS & HERS HEALTH INC | COM CL A | 433000106 | 6,531,170 | 0.7 | 188381.0 |
| ELVN | ADDED | ENLIVEN THERAPEUTICS INC | COM | 29337E102 | 6,421,957 | 0.69 | 126541.0 |
| - | PROQR THRAPEUTICS N V | SHS EURO | N71542109 | 6,372,230 | 0.69 | 3425930.0 | |
| DRUG | REDUCED | BRIGHT MINDS BIOSCIENCES INC | COM NEW | 10919W405 | 6,244,361 | 0.67 | 88951.0 |
| OVID | REDUCED | OVID THERAPEUTICS INC | COM | 690469101 | 6,105,503 | 0.66 | 2269704.0 |
| OCGN | UNCHANGED | OCUGEN INC | COM | 67577C105 | 6,063,348 | 0.65 | 3962972.0 |
| ACOG | REDUCED | ALPHA COGNITION INC | COM NEW | 02074J501 | 6,037,790 | 0.65 | 836259.0 |
| KYMR | UNCHANGED | KYMERA THERAPEUTICS INC | COM | 501575104 | 5,779,368 | 0.62 | 50400.0 |
| HROW | REDUCED | HARROW INC | COM | 415858109 | 5,766,364 | 0.62 | 135775.0 |
| KZIA | NEW | KAZIA THERAPEUTICS LTD | SPONSORED ADS | 48669G303 | 5,578,510 | 0.6 | 396201.0 |
| - | ULTRAGENYX PHARMACEUTICAL IN | COM | 90400D108 | 5,529,952 | 0.6 | 165617.0 | |
| QTTB | NEW | Q32 BIO INC | COM | 746964105 | 5,478,200 | 0.59 | 430000.0 |
| TENX | ADDED | TENAX THERAPEUTICS INC | COM NEW | 88032L605 | 5,428,605 | 0.58 | 373100.0 |
| EPRX | REDUCED | EUPRAXIA PHARMACEUTICALS INC | COM | 29842P105 | 5,352,388 | 0.58 | 809741.0 |
| EYPT | UNCHANGED | EYEPOINT INC | COM NEW | 30233G209 | 5,296,720 | 0.57 | 370400.0 |
| EYPT | UNCHANGED | EYEPOINT INC | COM NEW | 30233G209 | 5,296,720 | 0.57 | 370400.0 |
| - | SELLAS LIFE SCIENCES GROUP I | COM NEW | 81642T209 | 5,235,372 | 0.56 | 354700.0 | |
| BIOA | NEW | BIOAGE LABS INC | COM | 09077V100 | 4,901,999 | 0.53 | 200000.0 |
| RZLT | ADDED | REZOLUTE INC | COM NEW | 76200L309 | 4,862,062 | 0.52 | 935012.0 |
| OLMA | REDUCED | OLEMA PHARMACEUTICALS INC | COM | 68062P106 | 4,794,845 | 0.52 | 383281.0 |
| SION | NEW | SIONNA THERAPEUTICS INC | COM | 829401108 | 4,728,925 | 0.51 | 107500.0 |
| MNPR | NEW | MONOPAR THERAPEUTICS INC | COM NEW | 61023L207 | 4,431,450 | 0.48 | 47861.0 |
| BBIO | REDUCED | BRIDGEBIO PHARMA INC | COM | 10806X102 | 4,276,418 | 0.46 | 57417.0 |
| CLDX | ADDED | CELLDEX THERAPEUTICS INC NEW | COM NEW | 15117B202 | 4,241,940 | 0.46 | 114000.0 |
| - | INVENTIVA SA | ADS | 46124U107 | 4,152,521 | 0.45 | 1129101.0 | |
| ABSI | NEW | ABSCI CORPORATION | COM | 00091E109 | 4,100,217 | 0.44 | 353772.0 |
| ALEC | REDUCED | ALECTOR INC | COM | 014442107 | 3,985,038 | 0.43 | 1982606.0 |
| CLYM | NEW | CLIMB BIO INC | COM | 28658R106 | 3,912,000 | 0.42 | 300000.0 |
| FULC | UNCHANGED | FULCRUM THERAPEUTICS INC | COM | 359616109 | 3,839,929 | 0.41 | 1049161.0 |
| CRDL | ADDED | CARDIOL THERAPEUTICS INC | COM CL A | 14161Y200 | 3,524,500 | 0.38 | 3325000.0 |
| CUE | NEW | CUE BIOPHARMA INC | COM | 22978P205 | 3,293,728 | 0.35 | 104364.0 |
| - | CUMBERLAND PHARMACEUTICALS I | COM | 230770109 | 3,260,431 | 0.35 | 503153.0 | |
| - | ARROWHEAD PHARMACEUTICALS IN | COM | 04280A100 | 3,120,040 | 0.34 | 38278.0 | |
| VERA | ADDED | VERA THERAPEUTICS INC | CL A | 92337R101 | 3,076,647 | 0.33 | 71700.0 |
| RNTX | NEW | REIN THERAPEUTICS INC | COM NEW | 00887A204 | 3,068,000 | 0.33 | 2950000.0 |
| ARVN | UNCHANGED | ARVINAS INC | COM | 04335A105 | 2,977,115 | 0.32 | 358257.0 |
| ABOS | UNCHANGED | ACUMEN PHARMACEUTICALS INC | COM | 00509G209 | 2,813,638 | 0.3 | 1053797.0 |
| PMN | ADDED | PROMIS NEUROSCIENCES INC | COM SHS | 74346M505 | 2,697,801 | 0.29 | 205000.0 |
| QTTB | NEW | Q32 BIO INC | COM | 746964105 | 2,548,000 | 0.27 | 200000.0 |
| OLMA | REDUCED | OLEMA PHARMACEUTICALS INC | COM | 68062P106 | 2,502,000 | 0.27 | 200000.0 |
| ANNX | REDUCED | ANNEXON INC | COM | 03589W102 | 2,456,693 | 0.26 | 430244.0 |
| BMY | REDUCED | BRISTOL-MYERS SQUIBB CO | COM | 110122108 | 2,448,850 | 0.26 | 42500.0 |
| LXEO | UNCHANGED | LEXEO THERAPEUTICS INC | COM | 52886X107 | 2,388,066 | 0.26 | 513011.0 |
| - | DELCATH SYS INC | COM NEW | 24661P807 | 2,337,548 | 0.25 | 185667.0 | |
| IVVD | UNCHANGED | INVIVYD INC | COM | 00534A102 | 2,317,592 | 0.25 | 2656570.0 |
| - | UNIQURE NV | CALL | N90064901 | 2,293,788 | 0.25 | 49800.0 | |
| CABA | REDUCED | CABALETTA BIO INC | COM | 12674W109 | 2,177,000 | 0.23 | 700000.0 |
| NMRA | UNCHANGED | NEUMORA THERAPEUTICS INC. | COM | 640979100 | 2,173,294 | 0.23 | 1278408.0 |
| AMLX | NEW | AMYLYX PHARMACEUTICALS INC | COM | 03237H101 | 2,110,301 | 0.23 | 117500.0 |
| TARS | UNCHANGED | TARSUS PHARMACEUTICALS INC | COM | 87650L103 | 1,961,588 | 0.21 | 31166.0 |
| SLN | REDUCED | SILENCE THERAPEUTICS PLC | ADS | 82686Q101 | 1,827,725 | 0.2 | 830784.0 |
| - | JOURNEY MED CORP | COM | 48115J109 | 1,780,168 | 0.19 | 251436.0 | |
| DBVT | UNCHANGED | DBV TECHNOLOGIES S A | SPONSORED ADS | 23306J309 | 1,690,953 | 0.18 | 525000.0 |
| IBIO | UNCHANGED | IBIO INC | COM NEW | 451033708 | 1,674,859 | 0.18 | 957062.0 |
| AVTX | REDUCED | AVALO THERAPEUTICS INC | COM NEW | 05338F306 | 1,666,581 | 0.18 | 90183.0 |
| AVR | REDUCED | ANTERIS TECHNOLOGIES GLOBAL | COM | 03675P102 | 1,640,724 | 0.18 | 166571.0 |
| PALI | ADDED | PALISADE BIO INC | COM | 696389402 | 1,567,500 | 0.17 | 750000.0 |
| AMAN | NEW | AMANAT ACQUISITION CORP | CL A ORD | G0375M101 | 1,524,000 | 0.16 | 150000.0 |
| KLRS | UNCHANGED | KALARIS THERAPEUTICS INC | COM | 482929106 | 1,465,201 | 0.16 | 360000.0 |
| QNCX | NEW | QUINCE THERAPEUTICS INC | COM | 22053A305 | 1,314,245 | 0.14 | 72251.0 |
| LPCN | UNCHANGED | LIPOCINE INC NEW | COM NEW | 53630X203 | 1,301,902 | 0.14 | 508556.0 |
| IMNM | NEW | IMMUNOME INC | COM | 45257U108 | 1,271,401 | 0.14 | 60000.0 |
| PLRX | NEW | PLIANT THERAPEUTICS INC | COM | 729139105 | 1,140,000 | 0.12 | 1000000.0 |
| IMUX | REDUCED | IMMUNIC INC | COM NEW | 4525EP200 | 1,036,922 | 0.11 | 67464.0 |
| QNRX | UNCHANGED | QUOIN PHARMACEUTICALS LTD | SPONSORED ADS | 74907L409 | 1,023,844 | 0.11 | 211538.0 |
| IRON | NEW | DISC MEDICINE INC | COM | 254604101 | 972,762 | 0.1 | 13300.0 |
| IRON | NEW | DISC MEDICINE INC | COM | 254604101 | 972,762 | 0.1 | 13300.0 |
| EQ | UNCHANGED | EQUILLIUM INC | COM | 29446K106 | 971,376 | 0.1 | 303555.0 |
| STIM | UNCHANGED | NEURONETICS INC | COM | 64131A105 | 911,537 | 0.1 | 701182.0 |
| FTH | NEW | FAETH THERAPEUTICS INC | COM NEW | 81728A207 | 884,650 | 0.1 | 35386.0 |
| GUTS | UNCHANGED | FRACTYL HEALTH INC | COM | 35168W103 | 873,840 | 0.09 | 1100000.0 |
| HELP | UNCHANGED | CYBIN INC | COM NEW | 23256X407 | 873,532 | 0.09 | 132153.0 |
| TRAX | NEW | FIRST TRACKS BIOTHERAPEUTICS | ORD SHS | 337185102 | 860,633 | 0.09 | 42775.0 |
| VSTM | UNCHANGED | VERASTEM INC | COM NEW | 92337C203 | 816,965 | 0.09 | 213865.0 |
| - | DIREXION SHARES ETF TRUST | DAI BIO BEA ETF | 25461H853 | 815,887 | 0.09 | 105822.0 | |
| PEPG | REDUCED | PEPGEN INC | COM | 713317105 | 804,897 | 0.09 | 447165.0 |
| ACAD | UNCHANGED | ACADIA PHARMACEUTICALS INC | COM | 004225108 | 710,905 | 0.08 | 28099.0 |
| CNSP | ADDED | CNS PHARMACEUTICALS INC | COM | 18978H508 | 649,267 | 0.07 | 135830.0 |
| LYEL | UNCHANGED | LYELL IMMUNOPHARMA INC | COM NEW | 55083R203 | 577,188 | 0.06 | 41081.0 |
| WVE | UNCHANGED | WAVE LIFE SCIENCES LTD | SHS | Y95308105 | 495,507 | 0.05 | 85285.0 |
| IMTX | UNCHANGED | IMMATICS N.V | SHS | N44445109 | 492,003 | 0.05 | 48569.0 |
| PASG | ADDED | PASSAGE BIO INC | COM NEW | 702712209 | 485,643 | 0.05 | 99517.0 |
| NXTC | ADDED | NEXTCURE INC | COM NEW | 65343E207 | 461,284 | 0.05 | 288303.0 |
| - | FORTE BIOSCIENCES INC | COM NEW | 34962G208 | 445,655 | 0.05 | 20972.0 | |
| SLDB | REDUCED | SOLID BIOSCIENCES INC | COM NEW | 83422E204 | 429,130 | 0.05 | 42956.0 |
| ELTX | NEW | ELICIO THERAPEUTICS INC | COM | 28657F103 | 418,761 | 0.05 | 107100.0 |
| ELTX | NEW | ELICIO THERAPEUTICS INC | COM | 28657F103 | 418,761 | 0.05 | 107100.0 |
| TRAW | REDUCED | TRAWS PHARMA INC | COM NEW | 68232V884 | 403,217 | 0.04 | 478142.0 |
| LXRX | UNCHANGED | LEXICON PHARMACEUTICALS INC | COM NEW | 528872302 | 395,218 | 0.04 | 164674.0 |
| ELTX | NEW | ELICIO THERAPEUTICS INC | COM | 28657F103 | 391,000 | 0.04 | 100000.0 |
| ANL | UNCHANGED | ADLAI NORTYE LTD | SPONSORED ADS | 00704R109 | 389,839 | 0.04 | 33899.0 |
| INM | NEW | INMED PHARMACEUTICALS INC | COM NEW | 457637700 | 379,788 | 0.04 | 245025.0 |
| VKTX | UNCHANGED | VIKING THERAPEUTICS INC | COM | 92686J106 | 379,061 | 0.04 | 9717.0 |
| MGNX | UNCHANGED | MACROGENICS INC | COM | 556099109 | 346,006 | 0.04 | 74893.0 |
| - | PRAXIS PRECISION MEDICINES I | COM NEW | 74006W207 | 301,311 | 0.03 | 900.0 | |
| TENX | ADDED | TENAX THERAPEUTICS INC | COM NEW | 88032L605 | 240,075 | 0.03 | 16500.0 |
| PURR | UNCHANGED | HYPERLIQUID STRATEGIES INC | COM | 44916Y106 | 236,108 | 0.03 | 30001.0 |
| - | EVAXION AS | SPONSORED ADS | 29970R303 | 231,564 | 0.02 | 74698.0 | |
| RNAC | UNCHANGED | CARTESIAN THERAPEUTICS INC | COM NEW | 816212302 | 216,809 | 0.02 | 20807.0 |
| CMPS | REDUCED | COMPASS PATHWAYS PLC | SPONSORED ADS | 20451W101 | 212,250 | 0.02 | 15000.0 |
| NEUP | UNCHANGED | NEUPHORIA THERAPEUTICS INC | COM | 64136E102 | 207,326 | 0.02 | 47443.0 |
| VYGR | UNCHANGED | VOYAGER THERAPEUTICS INC | COM | 92915B106 | 185,722 | 0.02 | 53063.0 |
| - | VYNE THERAPEUTICS INC | COM | 92941V308 | 172,379 | 0.02 | 264912.0 | |
| BCRX | NEW | BIOCRYST PHARMACEUTICALS INC | COM | 09058V103 | 167,560 | 0.02 | 16756.0 |
| ENVB | NEW | ENVERIC BIOSCIENCES INC | COM SHS | 29405E505 | 138,003 | 0.01 | 100002.0 |
| PMVP | UNCHANGED | PMV PHARMACEUTICALS INC | COM | 69353Y103 | 119,442 | 0.01 | 89136.0 |
| VTGN | UNCHANGED | VISTAGEN THERAPEUTICS INC | COM | 92840H400 | 117,311 | 0.01 | 519077.0 |
| CMMB | UNCHANGED | CHEMOMAB THERAPEUTICS LTD | SPONSORED ADS | 16385C203 | 83,904 | 0.01 | 51793.0 |
| - | NYXOAH S A | SHS | B6S7WD106 | 80,035 | 0.01 | 47358.0 | |
| AIRS | UNCHANGED | AIRSCULPT TECHNOLOGIES INC | COM | 009496100 | 73,792 | 0.01 | 16398.0 |
| MGRX | UNCHANGED | MANGOCEUTICALS INC | COM NEW | 56270V205 | 52,496 | 0.01 | 138146.0 |
| CMPX | UNCHANGED | COMPASS THERAPEUTICS INC | COM | 20454B104 | 39,419 | 0.0 | 18000.0 |
| TOVX | UNCHANGED | THERIVA BIOLOGICS INC | COM NEW | 87164U508 | 28,041 | 0.0 | 112076.0 |
| GCTK | UNCHANGED | GLUCOTRACK INC | COM NEW | 45824Q804 | 14,621 | 0.0 | 45830.0 |
| - | AETHLON MED INC | COM NEW | 00808Y604 | 11,827 | 0.0 | 14364.0 | |
| JSPR | UNCHANGED | JASPER THERAPEUTICS INC | COM NEW | 471871202 | 10,144 | 0.0 | 24093.0 |
| - | BIOMX INC | COM NEW | 09090D509 | 6,773 | 0.0 | 19473.0 |
Quarterly portfolios
| Period | Filed | Value ($) | Positions | Vol % | Beta | Max DD % |
|---|---|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | 928,174,362 | 156 | 10.242311 | 0.149256 | 26.864002 |
| 2026-03-31 | 2026-05-15 | 1,231,685,555 | 161 | 7.937996 | 0.116059 | 23.093963 |
| 2025-12-31 | 2026-02-18 | 1,280,884,395 | 174 | 7.356145 | 0.173795 | 17.366231 |
| 2025-09-30 | 2025-11-14 | 990,387,589 | 169 | 6.340245 | 0.138635 | 15.738012 |
| 2025-03-31 | 2025-05-15 | 811,473,237 | 160 | 8.654175 | 0.245813 | 10.676411 |
| 2024-12-31 | 2025-02-14 | 735,256,871 | 171 | 7.846538 | 0.192098 | 15.528318 |