Fund HoldingsIkarian Capital, LLC

Total Portfolio Value
$306.94M
Total Bought
$584.01M
Total Sold
$449.60M
Net Transaction
+$134.41M
Filing Period:
Securities
SharesValue ($K)
Q4 2024
Q1 2025
Change
Q4 2024
Q1 2025
Weight (%)
Change
SPDR S&P 500 ETF TR(SPY)(Put)0320,000+320,0000179,005+179,005
ELI LILLY & CO(LLY)(Put)0150,000+150,0000123,887+123,887
CORCEPT THERAPEUTICS INC(CORT)(Put)0287,900+287,900032,884+32,884
SOLENO THERAPEUTICS INC(Call)0243,000+243,000017,362+17,362
SPDR S&P 500 ETF TR(SPY)025,000+25,000013,9854.56%+13,985
CORCEPT THERAPEUTICS INC(CORT)(Call)0100,000+100,000011,422+11,422
AKERO THERAPEUTICS INC0245,000+245,00009,9183.23%+9,918
ALNYLAM PHARMACEUTICALS INC(ALNY)031,594+31,59408,5312.78%+8,531
BIOHAVEN LTD(BHVN)(Call)0348,200+348,20008,371+8,371
VAXCYTE INC(PCVX)0200,000+200,00007,5522.46%+7,552
TRUPANION INC(TRUP)(Call)0200,000+200,00007,454+7,454
ARCELLX INC(Put)
COMMON STOCK
0111,600+111,60007,321+7,321
IMMUNOVANT INC(IMVT)(Put)0400,000+400,00006,836+6,836
SAREPTA THERAPEUTICS INC(SRPT)0169,087+169,087010,7913.52%+10,791
EDGEWISE THERAPEUTICS INC(EWTX)0280,000+280,00006,1602.01%+6,160
PRAXIS PRECISION MEDICINES I(PRAX)0145,502+145,50205,5101.80%+5,510
KYMERA THERAPEUTICS INC(KYMR)(Put)0176,800+176,80004,839+4,839
PROTAGONIST THERAPEUTICS INC(Put)0100,000+100,00004,836+4,836
PROTAGONIST THERAPEUTICS INC(Call)0100,000+100,00004,836+4,836
VERONA PHARMA PLC80,000130,000+50,0003,7158,2542.69%+4,539
ULTRAGENYX PHARMACEUTICAL IN(RARE)(Call)0113,100+113,10004,095+4,095
METSERA INC0150,000+150,00004,0831.33%+4,083
NEURONETICS INC01,100,000+1,100,00004,0481.32%+4,048
CIDARA THERAPEUTICS INC53,940248,940+195,0001,4505,3621.75%+3,912
SOLENO THERAPEUTICS INC(Put)75,000100,000+25,0003,3717,145+3,774
DYNE THERAPEUTICS INC(DYN)0358,837+358,83703,7531.22%+3,753
MOONLAKE IMMUNOTHERAPEUTICS(MLTX)(Put)094,500+94,50003,692+3,692
MOONLAKE IMMUNOTHERAPEUTICS(MLTX)(Call)094,500+94,50003,692+3,692
INCYTE CORP(INCY)(Call)060,400+60,40003,657+3,657
VIKING THERAPEUTICS INC(VKTX)(Call)0150,000+150,00003,623+3,623
ULTRAGENYX PHARMACEUTICAL IN(RARE)(Put)0100,000+100,00003,621+3,621
MAZE THERAPEUTICS INC(MAZE)0322,740+322,74003,5531.16%+3,553
BRIDGEBIO PHARMA INC(BBIO)(Call)700,000655,400-44,60019,20822,657+3,449
UNIQURE NV(QURE)(Call)0300,000+300,00003,180+3,180
CUMBERLAND PHARMACEUTICALS I0740,000+740,00003,1301.02%+3,130
KEROS THERAPEUTICS INC0274,009+274,00902,7920.91%+2,792
KYMERA THERAPEUTICS INC(KYMR)(Call)0100,000+100,00002,737+2,737
APOGEE THERAPEUTICS INC(APGE)(Put)070,700+70,70002,641+2,641
TREVI THERAPEUTICS INC(TRVI)325,000575,000+250,0001,3393,6171.18%+2,278
DYNE THERAPEUTICS INC(DYN)(Call)0187,000+187,00001,956+1,956
ORUKA THERAPEUTICS INC(ORKA)0175,000+175,00001,7950.58%+1,795
ARVINAS INC0229,900+229,90001,6140.53%+1,614
ARCTURUS THERAPEUTICS HLDGS(Call)0150,000+150,00001,589+1,589
APELLIS PHARMACEUTICALS INC
COM
3,59475,000+71,4061151,6400.53%+1,526
TRUPANION INC(TRUP)(Put)040,000+40,00001,491+1,491
VISTAGEN THERAPEUTICS INC77,616601,703+524,0872291,5040.49%+1,275
COMPASS THERAPEUTICS INC(Put)0662,200+662,20001,258+1,258
COMPASS THERAPEUTICS INC(Call)0662,200+662,20001,258+1,258
PROTHENA CORP PLC(Call)
SHS
0100,000+100,00001,238+1,238
VIKING THERAPEUTICS INC(VKTX)050,000+50,00001,2080.39%+1,208
TELADOC HEALTH INC(TDOC)0150,000+150,00001,1940.39%+1,194
IBIO INC599,913599,91301,4702,4120.79%+942
TEVA PHARMACEUTICAL INDS LTD(TEVA)(Call)100,000200,000+100,0002,2043,074+870
NUVATION BIO INC(NUVB)83,407619,258+535,8512221,0900.36%+868
SOLID BIOSCIENCES INC0230,000+230,00008510.28%+851
89BIO INC0100,000+100,00007270.24%+727
VERVE THERAPEUTICS INC169,991358,393+188,4029591,6380.53%+679
ALPHA COGNITION INC755,867967,867+212,0004,4525,1101.66%+658
CHANNEL THERAPEUTICS CORPORA0440,849+440,84906260.20%+626
DISC MEDICINE INC(IRON)(Call)011,900+11,9000591+591
MINERALYS THERAPEUTICS INC(MLYS)(Call)034,300+34,3000545+545
CELCUITY INC(CELC)(Put)039,900+39,9000403+403
GINKGO BIOWORKS HOLDINGS INC058,300+58,30003320.11%+332
VIR BIOTECHNOLOGY INC(VIR)897,8621,068,062+170,2006,5906,9212.25%+331
ULTRAGENYX PHARMACEUTICAL IN(RARE)0216,989+216,98907,8572.56%+7,857
CELLDEX THERAPEUTICS INC NEW(CLDX)(Call)017,800+17,8000323+323
GERON CORP(GERN)0150,000+150,00002390.08%+239
PEPGEN INC0150,000+150,00002110.07%+211
OLEMA PHARMACEUTICALS INC(OLMA)0191,994+191,99407220.24%+722
CELCUITY INC(CELC)(Call)014,900+14,9000151+151
EVAXION BIOTECH A/S080,000+80,00001480.05%+148
THERIVA BIOLOGICS INC0120,031+120,03101320.04%+132
KARYOPHARM THERAPEUTICS INC027,257+27,25701020.03%+102
MONOPAR THERAPEUTICS INC5,9085,90801302150.07%+85
VERU INC01,425,239+1,425,23906990.23%+699
ALPHA TEKNOVA INC014,008+14,0080730.02%+73
DELCATH SYS INC100,365100,36501,2081,2780.42%+69
IMMUNIC INC(Call)635,800635,8000636693+57
NEUMORA THERAPEUTICS INC.015,457+15,4570150.01%+15
ALTIMMUNE INC(Put)165,700240,000+74,3001,1951,200+5
GALECTIN THERAPEUTICS INC000000
4D MOLECULAR THERAPEUTICS IN000000
GLYCOMIMETICS INC000000
SYNLOGIC INC020,422+20,4220250.01%+25
EDGEWISE THERAPEUTICS INC(EWTX)(Put)000000
CYTOMX THERAPEUTICS INC000000
RELMADA THERAPEUTICS INC040,270+40,2700110.00%+11
CANDEL THERAPEUTICS INC000000
BRAINSTORM CELL THERAPEUTICS6,0160-6,016140-14
SAGIMET BIOSCIENCES INC011,984+11,9840390.01%+39
IMMUNOVANT INC(IMVT)6000-600150-15
CANDEL THERAPEUTICS INC(Put)3,6000-3,600310-31
CANDEL THERAPEUTICS INC(Call)3,6000-3,600310-31
AUTONOMIX MED INC20,00020,000075350.01%-40
HOOKIPA PHARMA INC052,996+52,9960570.02%+57
INHIBRX BIOSCIENCES INC(INBX)042,122+42,12205890.19%+589
ANEBULO PHARMACEUTICALS INC0157,720+157,72002050.07%+205
MIND MEDICINE MINDMED INC62,69162,69104363670.12%-70
STOKE THERAPEUTICS INC(STOK)000000
LYRA THERAPEUTICS INC01,058,148+1,058,14801340.04%+134
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