TANG CAPITAL MANAGEMENT LLC
Securities ▲▼ | Shares | Value ($K) | |||||
|---|---|---|---|---|---|---|---|
Q4 2025 ▲▼ | Q1 2026 ▲▼ | Change ▲▼ | Q4 2025 ▲▼ | Q1 2026 ▲▼ | Weight (%) ▲▼ | Change ▲▼ | |
| STATE STR SPDR S&P 500 ETF T(SPY) | 30,000 | 168,000 | +138,000 | 20,457,600 | 109,257,120 | 5.55% | +88,799,520 |
| CORCEPT THERAPEUTICS INC(CORT) | 156,764 | 1,500,000 | +1,343,236 | 5,455,387 | 60,465,000 | 3.07% | +55,009,613 |
| CAPRICOR THERAPEUTICS INC(CAPR) | 1,700,000 | 3,399,900 | +1,699,900 | 49,062,000 | 103,356,960 | 5.25% | +54,294,960 |
| SPYRE THERAPEUTICS INC(SYRE) | 1,892,200 | 1,892,200 | 0 | 61,988,472 | 95,442,568 | 4.85% | +33,454,096 |
| INSMED INC(INSM) | 60,000 | 260,000 | +200,000 | 10,442,400 | 42,515,200 | 2.16% | +32,072,800 |
| COMPASS PATHWAYS PLC(CMPS) | 0 | 4,002,200 | +4,002,200 | 0 | 22,132,166 | 1.12% | +22,132,166 |
| KALVISTA PHARMACEUTICALS INC | 4,573,530 | 4,573,530 | 0 | 73,862,510 | 92,065,159 | 4.68% | +18,202,649 |
| MIRUM PHARMACEUTICALS INC(MIRM) | 1,236,027 | 1,236,027 | 0 | 97,633,773 | 114,184,174 | 5.80% | +16,550,401 |
| ANI PHARMACEUTICALS INC(ANIP) | 481,437 | 707,500 | +226,063 | 38,004,637 | 54,406,750 | 2.76% | +16,402,113 |
| KINIKSA PHARMACEUTICALS INTL(KNSA) | 2,259,889 | 2,259,889 | 0 | 93,220,421 | 108,813,655 | 5.53% | +15,593,234 |
| CELCUITY INC(CELC) | 1,050,000 | 1,050,000 | 0 | 104,727,000 | 119,847,000 | 6.09% | +15,120,000 |
| DIANTHUS THERAPEUTICS INC(DNTH) | 264,692 | 264,692 | 0 | 10,907,958 | 22,212,953 | 1.13% | +11,304,995 |
| CRESCENT BIOPHARMA INC. | 872,398 | 1,160,000 | +287,602 | 10,346,640 | 21,309,200 | 1.08% | +10,962,560 |
| ANAPTYSBIO INC | 1,332,087 | 1,330,879 | -1,208 | 64,579,578 | 73,810,549 | 3.75% | +9,230,971 |
| ATEA PHARMACEUTICALS INC | 4,814,700 | 4,814,700 | 0 | 17,188,479 | 25,903,086 | 1.32% | +8,714,607 |
| JANUX THERAPEUTICS INC(JANX) | 0 | 500,000 | +500,000 | 0 | 6,950,000 | 0.35% | +6,950,000 |
| AGIOS PHARMACEUTICALS INC(AGIO) | 0 | 100,000 | +100,000 | 0 | 3,383,000 | 0.17% | +3,383,000 |
| PRECIGEN INC(PGEN) | 5,617,500 | 6,417,500 | +800,000 | 23,481,150 | 24,835,725 | 1.26% | +1,354,575 |
| KEZAR LIFE SCIENCES INC COM NEW | 664,314 | 664,314 | 0 | 4,178,535 | 4,929,210 | 0.25% | +750,675 |
| LEXICON PHARMACEUTICALS INC(LXRX) | 0 | 399,700 | +399,700 | 0 | 623,532 | 0.03% | +623,532 |
| AURINIA PHARMACEUTICALS INC(AUPH) | 11,329,500 | 12,229,500 | +900,000 | 180,705,525 | 181,241,190 | 9.20% | +535,665 |
| STOKE THERAPEUTICS INC(STOK) | 500,000 | 500,000 | 0 | 15,870,000 | 16,280,000 | 0.83% | +410,000 |
| NKARTA INC | 1,480,823 | 1,480,823 | 0 | 2,739,523 | 3,124,537 | 0.16% | +385,014 |
| BIOGEN INC(BIIB) | 35,000 | 35,000 | 0 | 6,159,650 | 6,416,550 | 0.33% | +256,900 |
| FATE THERAPEUTICS INC | 1,167,773 | 1,167,773 | 0 | 1,147,454 | 1,401,328 | 0.07% | +253,874 |
| PLIANT THERAPEUTICS INC | 6,143,132 | 6,143,132 | 0 | 7,494,621 | 7,740,346 | 0.39% | +245,725 |
| ROCKET PHARMACEUTICALS INC | 100,000 | 100,000 | 0 | 351,000 | 358,000 | 0.02% | +7,000 |
| CASSAVA SCIENCES INC | 7,073 | 0 | -7,073 | 14,005 | 0 | — | -14,005 |
| TSCAN THERAPEUTICS INC | 46,131 | 0 | -46,131 | 46,131 | 0 | — | -46,131 |
| ADICET BIO INC | 6,158 | 0 | -6,158 | 51,850 | 0 | — | -51,850 |
| ERASCA INC(ERAS) | 900,000 | 200,000 | -700,000 | 3,348,000 | 3,236,000 | 0.16% | -112,000 |
| IDEAYA BIOSCIENCES INC(IDYA) | 450,000 | 450,000 | 0 | 15,556,500 | 14,994,000 | 0.76% | -562,500 |
| COHERUS ONCOLOGY INC | 2,724,509 | 1,886,748 | -837,761 | 3,868,803 | 3,188,604 | 0.16% | -680,199 |
| NEUMORA THERAPEUTICS INC. | 967,235 | 439,878 | -527,357 | 1,731,351 | 857,762 | 0.04% | -873,589 |
| PMV PHARMACEUTICALS INC | 4,940,000 | 4,245,085 | -694,915 | 6,175,000 | 5,263,905 | 0.27% | -911,095 |
| ZYMEWORKS INC(ZYME) | 34,631 | 0 | -34,631 | 911,834 | 0 | — | -911,834 |
| ARVINAS INC | 569,698 | 538,658 | -31,040 | 6,756,618 | 5,709,775 | 0.29% | -1,046,843 |
| REVOLUTION MEDICINES INC(RVMD) | 15,640 | 0 | -15,640 | 1,245,726 | 0 | — | -1,245,726 |
| VIKING THERAPEUTICS INC(VKTX) | 500,000 | 500,000 | 0 | 17,590,000 | 16,270,000 | 0.83% | -1,320,000 |
| COMPASS THERAPEUTICS INC | 16,790,809 | 16,790,809 | 0 | 90,166,644 | 88,823,380 | 4.51% | -1,343,264 |
| BIOHAVEN LTD(BHVN) | 140,000 | 0 | -140,000 | 1,580,600 | 0 | — | -1,580,600 |
| SUTRO BIOPHARMA INC | 139,617 | 0 | -139,617 | 1,615,369 | 0 | — | -1,615,369 |
| UROGEN PHARMA LTD(URGN) | 350,000 | 350,000 | 0 | 8,197,000 | 6,293,000 | 0.32% | -1,904,000 |
| ALEXANDRIA REAL ESTATE EQ IN | 40,000 | 0 | -40,000 | 1,957,600 | 0 | — | -1,957,600 |
| NUVALENT INC(NUVL) | 21,880 | 0 | -21,880 | 2,200,909 | 0 | — | -2,200,909 |
| BIONTECH SE(BNTX) | 470,000 | 470,000 | 0 | 44,744,000 | 41,773,600 | 2.12% | -2,970,400 |
| HERON THERAPEUTICS INC | 6,250,000 | 6,250,000 | 0 | 8,125,000 | 5,000,625 | 0.25% | -3,124,375 |
| ABEONA THERAPEUTICS INC | 1,000,000 | 400,000 | -600,000 | 5,270,000 | 1,792,000 | 0.09% | -3,478,000 |
| IMMUNITYBIO INC(IBRX) | 2,333,333 | 0 | -2,333,333 | 4,619,999 | 0 | — | -4,619,999 |
| ALTIMMUNE INC | 2,131,307 | 666,022 | -1,465,285 | 7,694,018 | 2,051,348 | 0.10% | -5,642,670 |
| WAVE LIFE SCIENCES LTD(WVE) | 600,000 | 600,000 | 0 | 10,200,000 | 4,350,000 | 0.22% | -5,850,000 |
| REGENERON PHARMACEUTICALS(REGN) | 8,000 | 0 | -8,000 | 6,174,960 | 0 | — | -6,174,960 |
| BIOCRYST PHARMACEUTICALS INC(BCRX) | 800,000 | 0 | -800,000 | 6,240,000 | 0 | — | -6,240,000 |
| EVOLUS INC | 1,245,692 | 483,021 | -762,671 | 8,283,852 | 1,985,216 | 0.10% | -6,298,636 |
| THERAVANCE BIOPHARMA INC(TBPH) | 351,252 | 0 | -351,252 | 6,571,925 | 0 | — | -6,571,925 |
| JOURNEY MED CORP | 1,854,596 | 1,610,000 | -244,596 | 14,298,935 | 7,550,900 | 0.38% | -6,748,035 |
| SAREPTA THERAPEUTICS INC(SRPT) | 349,220 | 0 | -349,220 | 7,515,214 | 0 | — | -7,515,214 |
| ACADIA PHARMACEUTICALS INC | 300,000 | 0 | -300,000 | 8,013,000 | 0 | — | -8,013,000 |
| VERASTEM INC | 1,069,810 | 0 | -1,069,810 | 8,258,933 | 0 | — | -8,258,933 |
| DYNAVAX TECHNOLOGIES CORP | 556,359 | 0 | -556,359 | 8,556,801 | 0 | — | -8,556,801 |
| LENZ THERAPEUTICS INC | 865,169 | 451,114 | -414,055 | 13,842,704 | 4,127,696 | 0.21% | -9,715,008 |
| TELADOC HEALTH INC(TDOC) | 1,400,000 | 0 | -1,400,000 | 9,800,000 | 0 | — | -9,800,000 |
| BRISTOL-MYERS SQUIBB CO(BMY) | 200,000 | 0 | -200,000 | 10,788,000 | 0 | — | -10,788,000 |
| HARMONY BIOSCIENCES HLDGS IN(HRMY) | 290,292 | 0 | -290,292 | 10,862,727 | 0 | — | -10,862,727 |
| IMMUNOCORE HLDGS PLC(IMCR) | 2,628,538 | 2,649,368 | +20,830 | 91,236,554 | 79,878,445 | 4.06% | -11,358,109 |
| PTC THERAPEUTICS INC(PTCT) | 1,500,000 | 1,500,000 | 0 | 113,940,000 | 102,195,000 | 5.19% | -11,745,000 |
| VAXCYTE INC(PCVX) | 275,000 | 0 | -275,000 | 12,688,500 | 0 | — | -12,688,500 |
| TARSUS PHARMACEUTICALS INC(TARS) | 1,188,624 | 1,188,624 | 0 | 97,324,533 | 83,381,974 | 4.23% | -13,942,559 |
| GALAPAGOS NV(LKFT) | 3,921,219 | 3,785,991 | -135,228 | 128,223,861 | 113,579,730 | 5.77% | -14,644,131 |
| GSK PLC(GSK) | 300,000 | 0 | -300,000 | 14,712,000 | 0 | — | -14,712,000 |
| MODERNA INC(MRNA) | 692,820 | 100,000 | -592,820 | 20,431,262 | 5,080,000 | 0.26% | -15,351,262 |
| META PLATFORMS INC(META) | 23,331 | 0 | -23,331 | 15,400,560 | 0 | — | -15,400,560 |
| VIRIDIAN THERAPEUTICS INC(VRDN) | 1,792,626 | 1,792,626 | 0 | 55,786,521 | 35,063,765 | 1.78% | -20,722,756 |
| NUVATION BIO INC(NUVB) | 3,857,457 | 3,149,557 | -707,900 | 34,562,815 | 13,511,600 | 0.69% | -21,051,215 |
| NVIDIA CORPORATION(NVDA) | 127,788 | 0 | -127,788 | 23,832,462 | 0 | — | -23,832,462 |
| VENTYX BIOSCIENCES INC | 2,814,000 | 0 | -2,814,000 | 25,410,420 | 0 | — | -25,410,420 |
| TRAVERE THERAPEUTICS INC(TVTX) | 700,000 | 0 | -700,000 | 26,747,000 | 0 | — | -26,747,000 |
| VERTEX PHARMACEUTICALS INC(VRTX) | 80,000 | 0 | -80,000 | 36,268,800 | 0 | — | -36,268,800 |
| AVIDITY BIOSCIENCES INC | 900,000 | 0 | -900,000 | 64,917,000 | 0 | — | -64,917,000 |