Fund Holdings — Ikarian Capital, LLC

Total Portfolio Value
$772.56M
Total Bought
$412.08M
Total Sold
$245.13M
Net Transaction
+$166.95M
Filing Period:
Securities
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SharesValue ($K)
Q3 2025
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Q4 2025
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Change
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Q3 2025
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Q4 2025
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Weight (%)
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Change
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TERNS PHARMACEUTICALS INC164,2021,596,378+1,432,1761,23364,4948.35%+63,261
CIDARA THERAPEUTICS INC277,704273,243-4,46126,59360,3577.81%+33,764
PRAXIS PRECISION MEDICINES I(PRAX)28,57186,581+58,0101,51425,5193.30%+24,005
OLEMA PHARMACEUTICALS INC(OLMA)0758,654+758,654018,9662.45%+18,966
JAZZ PHARMACEUTICALS PLC(JAZZ)77,800160,367+82,56710,25427,2623.53%+17,008
ELI LILLY & CO(LLY)013,815+13,815014,8471.92%+14,847
CAPRICOR THERAPEUTICS INC(CAPR)264,642578,015+313,3731,90816,6822.16%+14,773
AMGEN INC(AMGN)045,000+45,000014,7291.91%+14,729
CONNECT BIOPHARMA HLDGS LTD(CNTB)04,788,486+4,788,486013,5041.75%+13,504
KODIAK SCIENCES INC(KOD)413,841719,787+305,9466,77520,1252.61%+13,351
BRIGHT MINDS BIOSCIENCES INC(DRUG)15,431159,421+143,99093612,4411.61%+11,505
RELMADA THERAPEUTICS INC(RLMD)1,843,0603,068,359+1,225,2993,70514,8201.92%+11,116
REVOLUTION MEDICINES INC(RVMD)0138,142+138,142011,0031.42%+11,003
CELCUITY INC(CELC)0105,545+105,545010,5271.36%+10,527
SPRUCE BIOSCIENCES INC13,332121,356+108,02411910,5711.37%+10,452
HARROW INC(HROW)0183,347+183,34708,9841.16%+8,984
ALTO NEUROSCIENCE INC(ANRO)110,000515,000+405,0004429,1671.19%+8,725
PHARVARIS N V
COM
210,165486,856+276,6915,24413,5101.75%+8,267
NEUROCRINE BIOSCIENCES INC(NBIX)054,062+54,06207,6680.99%+7,668
MAZE THERAPEUTICS INC(MAZE)740,825644,680-96,14519,21026,7093.46%+7,500
MINERALYS THERAPEUTICS INC(MLYS)0200,000+200,00007,2580.94%+7,258
RAPT THERAPEUTICS INC615,000665,271+50,27115,86122,5332.92%+6,672
GALECTO INC(DMRA)0285,710+285,71006,5740.85%+6,574
CORCEPT THERAPEUTICS INC(CORT)0185,593+185,59306,4590.84%+6,459
VAXCYTE INC(PCVX)311,682378,682+67,00011,22717,4722.26%+6,246
PELTHOS THERAPEUTICS INC(PTHS)62,451255,758+193,3071,7497,9281.03%+6,180
NUVALENT INC059,594+59,59405,9950.78%+5,995
LEGEND BIOTECH CORP(LEGN)0226,888+226,88804,9330.64%+4,933
JADE BIOSCIENCES INC0300,000+300,00004,6290.60%+4,629
EUPRAXIA PHARMACEUTICALS INC(EPRX)0610,000+610,00004,6060.60%+4,606
VENTYX BIOSCIENCES INC1,309,604958,704-350,9004,0738,6571.12%+4,584
TENAX THERAPEUTICS INC(TENX)967,600967,60007,36311,7951.53%+4,432
COMPASS THERAPEUTICS INC(CMPX)0800,000+800,00004,2960.56%+4,296
INVIVYD INC(IVVD)2,078,7062,656,570+577,8642,2876,5620.85%+4,275
KARYOPHARM THERAPEUTICS INC(KPTI)27,257544,554+517,2971784,0080.52%+3,830
FULCRUM THERAPEUTICS INC(FULC)1,289,2251,375,472+86,24711,86115,5572.01%+3,696
FORTE BIOSCIENCES INC(FBRX)300,000300,00004,5008,1811.06%+3,681
NEXTCURE INC0238,303+238,30303,3820.44%+3,382
CONTINEUM THERAPEUTICS INC(CTNM)0282,874+282,87403,2330.42%+3,233
PERCEPTIVE CAP SOLUTIONS COR
CL A ORD SHS
0240,951+240,95103,1400.41%+3,140
QUOIN PHARMACEUTICALS LTD(QNRX)0211,538+211,53803,0520.40%+3,052
KALARIS THERAPEUTICS INC(KLRS)0360,000+360,00003,0380.39%+3,038
COMPASS PATHWAYS PLC(CMPS)0400,000+400,00002,7600.36%+2,760
CYTOMX THERAPEUTICS INC(CTMX)3,372,6163,172,616-200,00010,75913,5151.75%+2,757
ERASCA INC(ERAS)0735,396+735,39602,7360.35%+2,736
BIOHAVEN LTD(BHVN)0212,481+212,48102,3990.31%+2,399
INVENTIVA SA(IVA)0502,601+502,60102,3290.30%+2,329
ARVINAS INC(ARVN)226,257358,257+132,0001,9284,2490.55%+2,321
NEUMORA THERAPEUTICS INC.(NMRA)12,4981,278,408+1,265,910232,2880.30%+2,266
DBV TECHNOLOGIES S A(DBVT)0525,000+525,00002,0840.27%+2,084
CABALETTA BIO INC(CABA)0900,000+900,00001,9710.26%+1,971
ADMA BIOLOGICS INC159,854234,854+75,0002,3434,2840.55%+1,940
JOURNEY MED CORP(DERM)0251,436+251,43601,9390.25%+1,939
VERASTEM INC(VSTM)0213,865+213,86501,6510.21%+1,651
LIPOCINE INC NEW(LPCN)0199,542+199,54201,6020.21%+1,602
SURROZEN INC(SRZN)065,788+65,78801,4870.19%+1,487
IBIO INC(IBIO)617,327957,062+339,7355111,8470.24%+1,336
LEXEO THERAPEUTICS INC(LXEO)567,601513,011-54,5903,7695,0940.66%+1,325
ANNEXON INC(ANNX)0230,244+230,24401,1560.15%+1,156
PROQR THRAPEUTICS N V
SHS EURO
892,2291,492,229+600,0001,9003,0140.39%+1,114
ALECTOR INC760,0002,082,606+1,322,6062,2503,2490.42%+999
WAVE LIFE SCIENCES LTD(WVE)95,95585,285-10,6707021,4500.19%+747
TRAWS PHARMA INC(TRAW)28,493678,142+649,649537660.10%+714
ALPHA COGNITION INC(ACOG)946,2591,056,259+110,0006,1606,8660.89%+706
PALISADE BIO INC(PALI)0274,978+274,97806460.08%+646
KALVISTA PHARMACEUTICALS INC035,119+35,11905670.07%+567
LYELL IMMUNOPHARMA INC(LYEL)43,79941,081-2,7187111,2640.16%+553
CUMBERLAND PHARMACEUTICALS I(CPIX)555,932555,93201,7352,2130.29%+478
PEPGEN INC(PEPG)535,967447,165-88,8022,4762,9110.38%+435
SILENCE THERAPEUTICS PLC(SLN)900,784865,784-35,0001,3061,7320.22%+425
ULTRAGENYX PHARMACEUTICAL IN(RARE)012,671+12,67102910.04%+291
IO BIOTECH INC(IOBTQ)1,525,8931,386,565-139,3285548440.11%+290
CYBIN INC(HELP)140,475132,153-8,3228271,0810.14%+254
CNS PHARMACEUTICALS INC(CNSP)045,830+45,83002410.03%+241
KEZAR LIFE SCIENCES INC
COM NEW
106,901102,211-4,6904176430.08%+226
NEUPHORIA THERAPEUTICS INC047,443+47,44301840.02%+184
GLUCOTRACK INC(GCTK)045,830+45,83001770.02%+177
SHUTTLE PHARMACTCLS HLDGS IN068,993+68,99301240.02%+124
HYPERLIQUID STRATEGIES INC(PURR)030,001+30,00101070.01%+107
MANGOCEUTICALS INC(MGRX)0138,146+138,14601020.01%+102
IMMATICS N.V(IMTX)49,39648,569-8274215100.07%+89
VIR BIOTECHNOLOGY INC(VIR)593,374575,712-17,6623,3883,4720.45%+83
ACUMEN PHARMACEUTICALS INC(ABOS)265,769254,312-11,4574545370.07%+82
VIKING THERAPEUTICS INC(VKTX)10,0009,717-2832633420.04%+79
VYNE THERAPEUTICS INC(YARW)290,000264,912-25,088971540.02%+57
EVAXION AS(EVAX)80,00074,698-5,3023013560.05%+56
MIND MEDICINE MINDMED INC62,69158,803-3,8887397870.10%+48
AETHLON MED INC(AEMD)014,364+14,3640400.01%+40
REZOLUTE INC(RZLT)016,479+16,4790390.01%+39
BIOMX INC(PHGE)019,473+19,4730360.00%+36
SENSEI BIOTHERAPEUTICS INC(FTH)22,49721,351-1,1462132280.03%+15
EQUILLIUM INC(EQ)332,297303,555-28,7424754710.06%-5
AUTONOMIX MED INC(AMIX)20,00018,688-1,31222100.00%-11
SYNLOGIC INC(SYBX)20,42219,966-45635220.00%-12
MACROGENICS INC(MGNX)80,07174,893-5,1781351210.02%-14
NYXOAH S A
SHS
50,62747,358-3,2692332180.03%-15
JASPER THERAPEUTICS INC(JSPR)25,10724,093-1,01460440.01%-16
THERIVA BIOLOGICS INC(TOVX)120,031112,076-7,95549240.00%-25
PMV PHARMACEUTICALS INC(PMVP)97,50089,136-8,3641371110.01%-25
LEXICON PHARMACEUTICALS INC(LXRX)176,479164,674-11,8052381890.02%-49
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Ikarian Capital, LLC — 13F Holdings — Q4 2025 | TickerTrail