Ikarian Capital, LLC
Securities ▲▼ | Shares | Value ($K) | |||||
|---|---|---|---|---|---|---|---|
Q2 2025 ▲▼ | Q3 2025 ▲▼ | Change ▲▼ | Q2 2025 ▲▼ | Q3 2025 ▲▼ | Weight (%) ▲▼ | Change ▲▼ | |
| UNITED THERAPEUTICS CORP DEL(UTHR)(Put) | 0 | 209,800 | +209,800 | 0 | 87,950,258 | — | +87,950,258 |
| SPDR SERIES TRUST(Put) | 0 | 750,000 | +750,000 | 0 | 75,150,000 | — | +75,150,000 |
| GENMAB A/S(GMAB) | 0 | 175,000 | +175,000 | 0 | 53,021,552 | 10.73% | +53,021,552 |
| BRISTOL-MYERS SQUIBB CO(BMY)(Put) | 0 | 800,000 | +800,000 | 0 | 36,080,000 | — | +36,080,000 |
| ABIVAX SA(ABVX) | 0 | 396,098 | +396,098 | 0 | 33,416,358 | 6.76% | +33,416,358 |
| IONIS PHARMACEUTICALS INC(IONS) | 0 | 415,163 | +415,163 | 0 | 27,159,964 | 5.49% | +27,159,964 |
| UNIQURE NV(QURE)(Call) | 800,000 | 535,600 | -264,400 | 11,152,000 | 31,262,972 | — | +20,110,972 |
| SCHOLAR ROCK HLDG CORP(SRRK)(Call) | 100,000 | 561,600 | +461,600 | 3,542,000 | 20,913,984 | — | +17,371,984 |
| PTC THERAPEUTICS INC(PTCT) | 0 | 280,551 | +280,551 | 0 | 17,217,414 | 3.48% | +17,217,414 |
| MAZE THERAPEUTICS INC(MAZE) | 262,740 | 740,825 | +478,085 | 3,223,819 | 19,209,592 | 3.89% | +15,985,773 |
| RAPT THERAPEUTICS INC | 0 | 615,000 | +615,000 | 0 | 15,860,850 | 3.21% | +15,860,850 |
| INSMED INC(INSM)(Put) | 0 | 100,000 | +100,000 | 0 | 14,401,000 | — | +14,401,000 |
| INSMED INC(INSM)(Call) | 0 | 100,000 | +100,000 | 0 | 14,401,000 | — | +14,401,000 |
| HARROW INC(HROW)(Call) | 0 | 289,700 | +289,700 | 0 | 13,957,746 | — | +13,957,746 |
| DIANTHUS THERAPEUTICS INC(DNTH) | 0 | 346,001 | +346,001 | 0 | 13,615,140 | 2.75% | +13,615,140 |
| PTC THERAPEUTICS INC(PTCT)(Call) | 0 | 213,000 | +213,000 | 0 | 13,071,810 | — | +13,071,810 |
| CYTOMX THERAPEUTICS INC | 0 | 3,372,616 | +3,372,616 | 0 | 10,758,645 | 2.18% | +10,758,645 |
| CRINETICS PHARMACEUTICALS IN(CRNX)(Call) | 0 | 257,700 | +257,700 | 0 | 10,733,205 | — | +10,733,205 |
| JAZZ PHARMACEUTICALS PLC(JAZZ)(Call) | 0 | 70,700 | +70,700 | 0 | 9,318,260 | — | +9,318,260 |
| ZURA BIO LTD | 0 | 2,132,322 | +2,132,322 | 0 | 9,232,953 | 1.87% | +9,232,953 |
| APELLIS PHARMACEUTICALS INC | 75,000 | 451,902 | +376,902 | 1,298,250 | 10,226,541 | 2.07% | +8,928,291 |
| FULCRUM THERAPEUTICS INC | 428,521 | 1,289,225 | +860,704 | 2,948,225 | 11,860,870 | 2.40% | +8,912,645 |
| NOVO-NORDISK A S(NVO)(Call) | 0 | 150,000 | +150,000 | 0 | 8,323,500 | — | +8,323,500 |
| APELLIS PHARMACEUTICALS INC(Call) | 0 | 358,000 | +358,000 | 0 | 8,101,540 | — | +8,101,540 |
| BIOHAVEN LTD(BHVN)(Call) | 300,000 | 796,400 | +496,400 | 4,233,000 | 11,953,964 | — | +7,720,964 |
| TENAX THERAPEUTICS INC | 0 | 967,600 | +967,600 | 0 | 7,363,436 | 1.49% | +7,363,436 |
| AGIOS PHARMACEUTICALS INC(AGIO)(Call) | 0 | 150,000 | +150,000 | 0 | 6,021,000 | — | +6,021,000 |
| CG ONCOLOGY INC(CGON) | 155,000 | 249,473 | +94,473 | 4,030,000 | 10,048,772 | 2.03% | +6,018,772 |
| JAZZ PHARMACEUTICALS PLC(JAZZ) | 40,000 | 77,800 | +37,800 | 4,244,799 | 10,254,041 | 2.07% | +6,009,242 |
| ARS PHARMACEUTICALS INC(Call) | 0 | 562,400 | +562,400 | 0 | 5,652,120 | — | +5,652,120 |
| PHARVARIS N V | 0 | 210,165 | +210,165 | 0 | 5,243,617 | 1.06% | +5,243,617 |
| SYNDAX PHARMACEUTICALS INC(SNDX) | 0 | 333,733 | +333,733 | 0 | 5,134,482 | 1.04% | +5,134,482 |
| TRAVERE THERAPEUTICS INC(TVTX)(Call) | 0 | 214,500 | +214,500 | 0 | 5,126,550 | — | +5,126,550 |
| AGIOS PHARMACEUTICALS INC(AGIO) | 0 | 126,979 | +126,979 | 0 | 5,096,937 | 1.03% | +5,096,937 |
| ANAPTYSBIO INC(Put) | 0 | 161,100 | +161,100 | 0 | 4,932,882 | — | +4,932,882 |
| ANAPTYSBIO INC(Call) | 0 | 161,100 | +161,100 | 0 | 4,932,882 | — | +4,932,882 |
| CENTESSA PHARMACEUTICALS PLC(Call) | 200,000 | 307,700 | +107,700 | 2,628,000 | 7,461,725 | — | +4,833,725 |
| TRAVERE THERAPEUTICS INC(TVTX) | 0 | 190,781 | +190,781 | 0 | 4,559,666 | 0.92% | +4,559,666 |
| LIQUIDIA CORPORATION(LQDA)(Call) | 0 | 200,000 | +200,000 | 0 | 4,548,000 | — | +4,548,000 |
| KODIAK SCIENCES INC(KOD) | 599,534 | 413,841 | -185,693 | 2,236,261 | 6,774,577 | 1.37% | +4,538,316 |
| CYTOKINETICS INC(CYTK) | 233,464 | 222,674 | -10,790 | 7,713,651 | 12,238,163 | 2.48% | +4,524,512 |
| RAPT THERAPEUTICS INC(Call) | 0 | 175,000 | +175,000 | 0 | 4,513,250 | — | +4,513,250 |
| METSERA INC(Put) | 0 | 86,000 | +86,000 | 0 | 4,500,380 | — | +4,500,380 |
| METSERA INC(Call) | 0 | 86,000 | +86,000 | 0 | 4,500,380 | — | +4,500,380 |
| REVOLUTION MEDICINES INC(RVMD)(Call) | 0 | 95,000 | +95,000 | 0 | 4,436,500 | — | +4,436,500 |
| KRYSTAL BIOTECH INC(KRYS) | 0 | 24,421 | +24,421 | 0 | 4,311,039 | 0.87% | +4,311,039 |
| ARGENX SE(ARGX) | 0 | 5,942 | +5,942 | 0 | 4,303,146 | 0.87% | +4,303,146 |
| ARCTURUS THERAPEUTICS HLDGS(Call) | 0 | 227,200 | +227,200 | 0 | 4,187,296 | — | +4,187,296 |
| PALVELLA THERAPEUTICS INC NE(PVLA) | 0 | 64,746 | +64,746 | 0 | 4,058,926 | 0.82% | +4,058,926 |
| CIDARA THERAPEUTICS INC | 464,488 | 277,704 | -186,784 | 22,625,210 | 26,592,935 | 5.38% | +3,967,725 |
| SOLENO THERAPEUTICS INC | 0 | 55,946 | +55,946 | 0 | 3,781,950 | 0.77% | +3,781,950 |
| DIREXION SHS ETF TR | 0 | 91,959 | +91,959 | 0 | 3,718,822 | 0.75% | +3,718,822 |
| RELMADA THERAPEUTICS INC | 40,270 | 1,843,060 | +1,802,790 | 24,174 | 3,704,551 | 0.75% | +3,680,377 |
| SCHOLAR ROCK HLDG CORP(SRRK)(Put) | 0 | 96,200 | +96,200 | 0 | 3,582,488 | — | +3,582,488 |
| MBX BIOSCIENCES INC(MBX)(Put) | 0 | 200,000 | +200,000 | 0 | 3,500,000 | — | +3,500,000 |
| MBX BIOSCIENCES INC(MBX)(Call) | 0 | 200,000 | +200,000 | 0 | 3,500,000 | — | +3,500,000 |
| MOONLAKE IMMUNOTHERAPEUTICS(MLTX) | 0 | 435,839 | +435,839 | 0 | 3,124,965 | 0.63% | +3,124,965 |
| UPSTREAM BIO INC | 0 | 161,113 | +161,113 | 0 | 3,030,535 | 0.61% | +3,030,535 |
| SOLID BIOSCIENCES INC(Call) | 0 | 468,000 | +468,000 | 0 | 2,887,560 | — | +2,887,560 |
| FRACTYL HEALTH INC | 0 | 1,800,000 | +1,800,000 | 0 | 2,862,000 | 0.58% | +2,862,000 |
| BRIDGEBIO ONCOLOGY THERAPEUT | 0 | 245,231 | +245,231 | 0 | 2,839,774 | 0.57% | +2,839,774 |
| BRIDGEBIO PHARMA INC(BBIO) | 0 | 51,967 | +51,967 | 0 | 2,699,166 | 0.55% | +2,699,166 |
| ADMA BIOLOGICS INC | 0 | 159,854 | +159,854 | 0 | 2,343,460 | 0.47% | +2,343,460 |
| PEPGEN INC | 150,000 | 535,967 | +385,967 | 166,500 | 2,476,168 | 0.50% | +2,309,668 |
| COMPASS PATHWAYS PLC(CMPS)(Call) | 0 | 400,000 | +400,000 | 0 | 2,292,000 | — | +2,292,000 |
| INVIVYD INC | 0 | 2,078,706 | +2,078,706 | 0 | 2,286,577 | 0.46% | +2,286,577 |
| VENTYX BIOSCIENCES INC | 967,590 | 1,309,604 | +342,014 | 2,070,643 | 4,072,869 | 0.82% | +2,002,226 |
| CAPRICOR THERAPEUTICS INC(CAPR) | 0 | 264,642 | +264,642 | 0 | 1,908,069 | 0.39% | +1,908,069 |
| AVALO THERAPEUTICS INC(AVTX) | 35,300 | 159,777 | +124,477 | 176,147 | 2,030,766 | 0.41% | +1,854,619 |
| LARIMAR THERAPEUTICS INC(Call) | 0 | 548,400 | +548,400 | 0 | 1,771,332 | — | +1,771,332 |
| PELTHOS THERAPEUTICS INC | 0 | 62,451 | +62,451 | 0 | 1,748,628 | 0.35% | +1,748,628 |
| UNIQURE NV(QURE) | 119,986 | 58,610 | -61,376 | 1,672,605 | 3,421,066 | 0.69% | +1,748,461 |
| LEXEO THERAPEUTICS INC | 550,029 | 567,601 | +17,572 | 2,211,117 | 3,768,870 | 0.76% | +1,557,753 |
| OVID THERAPEUTICS INC | 0 | 1,095,574 | +1,095,574 | 0 | 1,424,247 | 0.29% | +1,424,247 |
| PRIME MEDICINE INC(Put) | 0 | 250,000 | +250,000 | 0 | 1,385,000 | — | +1,385,000 |
| PRIME MEDICINE INC(Call) | 0 | 250,000 | +250,000 | 0 | 1,385,000 | — | +1,385,000 |
| VAXCYTE INC(PCVX) | 305,000 | 311,682 | +6,682 | 9,915,549 | 11,226,785 | 2.27% | +1,311,236 |
| CYTOKINETICS INC(CYTK)(Call) | 150,000 | 110,900 | -39,100 | 4,956,000 | 6,095,064 | — | +1,139,064 |
| ANAPTYSBIO INC | 15,662 | 48,410 | +32,748 | 347,696 | 1,482,314 | 0.30% | +1,134,618 |
| SOLID BIOSCIENCES INC | 0 | 176,690 | +176,690 | 0 | 1,090,177 | 0.22% | +1,090,177 |
| TERNS PHARMACEUTICALS INC | 58,491 | 164,202 | +105,711 | 218,172 | 1,233,157 | 0.25% | +1,014,985 |
| VISTAGEN THERAPEUTICS INC | 601,703 | 620,869 | +19,166 | 1,203,406 | 2,204,084 | 0.45% | +1,000,678 |
| ALECTOR INC | 900,000 | 760,000 | -140,000 | 1,260,000 | 2,249,601 | 0.46% | +989,601 |
| UNITED THERAPEUTICS CORP DEL(UTHR)(Call) | 0 | 2,300 | +2,300 | 0 | 964,183 | — | +964,183 |
| ZYMEWORKS INC(ZYME) | 25,000 | 72,787 | +47,787 | 313,751 | 1,243,202 | 0.25% | +929,451 |
| IONIS PHARMACEUTICALS INC(IONS)(Call) | 0 | 13,300 | +13,300 | 0 | 870,086 | — | +870,086 |
| MBX BIOSCIENCES INC(MBX) | 0 | 48,071 | +48,071 | 0 | 841,243 | 0.17% | +841,243 |
| PRIME MEDICINE INC | 0 | 150,000 | +150,000 | 0 | 831,000 | 0.17% | +831,000 |
| STRUCTURE THERAPEUTICS INC | 183,085 | 163,237 | -19,848 | 3,797,183 | 4,570,636 | 0.92% | +773,453 |
| TVARDI THERAPEUTICS INC(Call) | 0 | 19,000 | +19,000 | 0 | 740,430 | — | +740,430 |
| CORBUS PHARMACEUTICALS HLDGS(Call) | 0 | 54,800 | +54,800 | 0 | 693,220 | — | +693,220 |
| TEVA PHARMACEUTICAL INDS LTD(TEVA)(Call) | 200,000 | 200,000 | 0 | 3,352,000 | 4,040,000 | — | +688,000 |
| SONNET BIOTHERAPEUTC HLDNG I | 0 | 150,000 | +150,000 | 0 | 687,000 | 0.14% | +687,000 |
| ALTIMMUNE INC(Call) | 827,500 | 1,000,000 | +172,500 | 3,202,425 | 3,770,000 | — | +567,575 |
| IO BIOTECH INC | 0 | 1,525,893 | +1,525,893 | 0 | 554,051 | 0.11% | +554,051 |
| VERU INC | 0 | 142,523 | +142,523 | 0 | 541,588 | 0.11% | +541,588 |
| EQUILLIUM INC | 0 | 332,297 | +332,297 | 0 | 475,185 | 0.10% | +475,185 |
| INFLARX NV | 705,010 | 722,066 | +17,056 | 556,958 | 967,568 | 0.20% | +410,610 |
| KALVISTA PHARMACEUTICALS INC(Call) | 400,000 | 400,000 | 0 | 4,522,001 | 4,872,000 | — | +349,999 |
| MIND MEDICINE MINDMED INC | 62,691 | 62,691 | 0 | 406,864 | 739,128 | 0.15% | +332,264 |