Fund HoldingsSPHERA FUNDS MANAGEMENT LTD.

Total Portfolio Value
$517.29M
Total Bought
$184.45M
Total Sold
$196.35M
Net Transaction
-$11.90M
Filing Period:
Securities
SharesValue ($K)
Q3 2025
Q4 2025
Change
Q3 2025
Q4 2025
Weight (%)
Change
COGENT BIOSCIENCES INC(COGT)98,526378,500+279,9741,41513,4442.60%+12,029
SYNDAX PHARMACEUTICALS INC(SNDX)0762,563+762,563016,0213.10%+16,021
PRAXIS PRECISION MEDICINES I(PRAX)(Call)040,000+40,000011,790+11,790
BIOMARIN PHARMACEUTICAL INC(BMRN)0147,000+147,00008,7361.69%+8,736
SPDR SERIES TRUST(Put)
ST STR SP BIOT
070,000+70,00008,535+8,535
ULTRAGENYX PHARMACEUTICAL IN(RARE)(Call)0350,000+350,00008,050+8,050
MINERALYS THERAPEUTICS INC(MLYS)219,910449,003+229,0938,33916,2943.15%+7,955
SCHOLAR ROCK HLDG CORP(SRRK)0158,265+158,26506,9721.35%+6,972
WAVE LIFE SCIENCES LTD(WVE)50,000408,166+358,1663666,9391.34%+6,573
BIOCRYST PHARMACEUTICALS INC(BCRX)0837,889+837,88906,5361.26%+6,536
NICE LTD(NICE)(Call)055,700+55,70006,296+6,296
BRIDGEBIO PHARMA INC(BBIO)0107,746+107,74608,2411.59%+8,241
VOR BIOPHARMA INC(VOR)0410,417+410,41705,3681.04%+5,368
BIOGEN INC(BIIB)82,73894,738+12,00011,59016,6733.22%+5,083
ENPHASE ENERGY INC(ENPH)26,700186,500+159,8009455,9771.16%+5,032
KODIAK SCIENCES INC(KOD)0175,500+175,50004,9070.95%+4,907
APELLIS PHARMACEUTICALS INC
COM
63,660250,961+187,3011,4416,3041.22%+4,864
TANGO THERAPEUTICS INC(TNGX)0544,563+544,56304,8250.93%+4,825
TEVA PHARMACEUTICAL INDS LTD(TEVA)1,507,0251,123,525-383,50030,44235,0656.78%+4,623
CYBIN INC0825,576+825,57606,7531.31%+6,753
IMMATICS N.V(IMTX)583,105861,105+278,0004,9689,0421.75%+4,074
SOLENO THERAPEUTICS INC41,606136,314+94,7082,8136,3111.22%+3,499
PROTARA THERAPEUTICS INC0650,000+650,00003,4650.67%+3,465
BIOAGE LABS INC0243,035+243,03503,2150.62%+3,215
ORIC PHARMACEUTICALS INC(ORIC)431,6931,004,378+572,6855,1808,2161.59%+3,035
ZIM INTEGRATED SHIPPING SERV
SHS
0136,005+136,00502,8870.56%+2,887
CLIMB BIO INC434,837932,247+497,4108743,7290.72%+2,855
EVOMMUNE INC0166,147+166,14702,8440.55%+2,844
ASTRIA THERAPEUTICS INC251,225355,725+104,5001,8294,6560.90%+2,828
ACADIA PHARMACEUTICALS INC148,900212,202+63,3023,1785,6681.10%+2,490
NURIX THERAPEUTICS INC(NRIX)0124,000+124,00002,3520.45%+2,352
ASCENDIS PHARMA A/S(ASND)011,000+11,00002,3460.45%+2,346
TENAX THERAPEUTICS INC0190,111+190,11102,3170.45%+2,317
DYNE THERAPEUTICS INC(DYN)426,518392,894-33,6245,3957,6851.49%+2,290
SAVARA INC(SVRA)1,350,3331,178,164-172,1694,8217,1041.37%+2,284
ELI LILLY & CO(LLY)09,040+9,04009,7151.88%+9,715
ASTRAZENECA PLC(AZN)135,060135,060010,36212,4162.40%+2,054
CONTINEUM THERAPEUTICS INC0173,475+173,47501,9830.38%+1,983
VERASTEM INC78,307343,678+265,3716912,6530.51%+1,962
MADRIGAL PHARMACEUTICALS INC(MDGL)03,300+3,30001,9220.37%+1,922
NOVA LTD(NVMI)047,846+47,846015,7123.04%+15,712
PRECISION BIOSCIENCES INC0396,116+396,11601,6480.32%+1,648
TREVI THERAPEUTICS INC(TRVI)643,957598,534-45,4235,8927,4941.45%+1,601
AMICUS THERAPEUTICS INC
COM
991,142658,377-332,7657,8109,3751.81%+1,565
ALPHA COGNITION INC0567,616+567,61603,6900.71%+3,690
REVOLUTION MEDICINES INC(RVMD)60,00052,500-7,5002,8024,1820.81%+1,380
ADVANCED MICRO DEVICES INC(AMD)15,47018,040+2,5702,5033,8630.75%+1,361
SANOFI SA(SNY)219,515239,515+20,00010,36111,6072.24%+1,246
BROADCOM INC(AVGO)6,5559,755+3,2002,1633,3760.65%+1,214
CAMTEK LTD(CAMT)29,04839,498+10,4503,0514,2000.81%+1,149
ENTRADA THERAPEUTICS INC0110,942+110,94201,1400.22%+1,140
CELLDEX THERAPEUTICS INC NEW(CLDX)0239,764+239,76406,5121.26%+6,512
ANNEXON INC(ANNX)1,794,3871,316,212-478,1755,4736,6071.28%+1,135
TENAYA THERAPEUTICS INC01,500,000+1,500,00001,0670.21%+1,067
MERCK & CO INC(MRK)48,60048,60004,0795,1160.99%+1,037
MEDIWOUND LTD185,270230,347+45,0773,3394,2520.82%+914
KURA ONCOLOGY INC(KURA)245,522295,522+50,0002,1733,0700.59%+898
GSK PLC(GSK)122,000122,00005,2665,9831.16%+717
SHATTUCK LABS INC0195,212+195,21207130.14%+713
TAYSHA GENE THERAPIES INC(TSHA)408,146368,146-40,0001,3352,0250.39%+690
SOLAREDGE TECHNOLOGIES INC(SEDG)140,966196,536+55,5705,2165,6701.10%+454
PALISADE BIO INC0184,100+184,10004330.08%+433
VOYAGER THERAPEUTICS INC199,761339,761+140,0009331,3350.26%+402
NOVARTIS AG(NVS)37,00037,00004,7455,1010.99%+356
PRELUDE THERAPEUTICS INC0122,752+122,75203560.07%+356
VENTYX BIOSCIENCES INC440,114180,114-260,0001,3691,6260.31%+258
BRISTOL-MYERS SQUIBB CO(BMY)17,50017,50007899440.18%+155
CORVUS PHARMACEUTICALS INC(CRVS)407,709407,70903,0053,1390.61%+135
DAY ONE BIOPHARMACEUTICALS I
COM
175,371145,371-30,0001,2361,3550.26%+118
MEREO BIOPHARMA GROUP PLC0255,400+255,40001060.02%+106
ISHARES BITCOIN TRUST ETF(IBIT)21,45530,055+8,6001,3951,4920.29%+98
PROMIS NEUROSCIENCES INC011,807+11,8070810.02%+81
JANUX THERAPEUTICS INC(JANX)85,840157,840+72,0002,0982,1780.42%+80
ENLIVEN THERAPEUTICS INC166,765226,765+60,0003,4143,4920.68%+79
NOVO-NORDISK A S(NVO)0115,677+115,67705,8861.14%+5,886
ONKURE THERAPEUTICS INC60,45460,45401661750.03%+9
PEPGEN INC171,467121,467-50,0007927910.15%-1
APPLIED THERAPEUTICS INC50,00050,00003050.00%-25
PFIZER INC(PFE)86,00086,00002,1912,1410.41%-50
MOONLAKE IMMUNOTHERAPEUTICS(MLTX)(Call)000000
ABBVIE INC(ABBV)25,25625,25605,8485,7711.12%-77
ELEDON PHARMACEUTICALS INC02,132,131+2,132,13103,2200.62%+3,220
ISHARES TR(Call)47,00047,00004,2004,097-104
PROMIS NEUROSCIENCES INC000000
JOHNSON & JOHNSON(JNJ)40,83135,831-5,0007,5717,4151.43%-156
DESIGN THERAPEUTICS INC(DSGN)21,9180-21,9181650-165
APREA THERAPEUTICS INC270,000270,00003982300.04%-168
AMGEN INC(AMGN)9,5007,500-2,0002,6812,4550.47%-226
ELBIT SYS LTD(ESLT)6,7405,340-1,4003,4363,0850.60%-351
ARROWHEAD PHARMACEUTICALS IN(ARWR)000000
CHEMOMAB THERAPEUTICS LTD179,4250-179,4254720-472
MOONLAKE IMMUNOTHERAPEUTICS(MLTX)71,0100-71,0105090-509
ELEDON PHARMACEUTICALS INC(Put)200,0000-200,0005180-518
89BIO INC000000
JASPER THERAPEUTICS INC629,470485,401-144,0691,4988880.17%-610
SOLAREDGE TECHNOLOGIES INC(SEDG)4,000,0004,000,00005,3334,6990.91%-633
ROIVANT SCIENCES LTD(ROIV)42,5710-42,5716440-644
PERSPECTIVE THERAPEUTICS INC510,343349,973-160,3701,7509620.19%-788
WEREWOLF THERAPEUTICS INC626,810626,81001,2353970.08%-838
LARIMAR THERAPEUTICS INC260,3850-260,3858410-841
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