Fund HoldingsADAR1 Capital Management, LLC

Total Portfolio Value
$615.88M
Total Bought
$245.03M
Total Sold
$118.44M
Net Transaction
+$126.59M
Filing Period:
Securities
SharesValue ($K)
Q1 2025
Q2 2025
Change
Q1 2025
Q2 2025
Weight (%)
Change
KEROS THERAPEUTICS INC1,486,4615,389,264+3,902,80315,14771,94711.68%+56,800
SPDR S&P 500 ETF TR(SPY)(Put)040,500+40,500025,023+25,023
PROTHENA CORP PLC
SHS
03,375,009+3,375,009020,4863.33%+20,486
SPDR S&P 500 ETF TR(SPY)022,684+22,684014,0152.28%+14,015
ABIVAX SA(ABVX)2,210,0193,071,340+861,32113,81323,4963.82%+9,683
CYTOMX THERAPEUTICS INC03,081,414+3,081,41406,9951.14%+6,995
PROTAGONIST THERAPEUTICS INC939,669948,069+8,40045,44252,4008.51%+6,957
RAPT THERAPEUTICS INC0783,217+783,21706,2661.02%+6,266
CG ONCOLOGY INC(CGON)301,134523,216+222,0827,37513,6042.21%+6,229
IONIS PHARMACEUTICALS INC(IONS)0148,461+148,46105,8660.95%+5,866
TAYSHA GENE THERAPIES INC(TSHA)1,066,3093,009,870+1,943,5611,4826,9531.13%+5,471
VERVE THERAPEUTICS INC0469,018+469,01805,2670.86%+5,267
SEPTERNA INC(SEPN)720,848847,227+126,3794,1748,9551.45%+4,781
SAVARA INC(SVRA)1,360,2913,600,670+2,240,3793,7688,2101.33%+4,442
BIOAGE LABS INC(BIOA)971,1001,937,123+966,0233,6518,0001.30%+4,349
XENON PHARMACEUTICALS INC(XENE)127,548259,503+131,9554,2798,1221.32%+3,843
CYTOKINETICS INC(CYTK)0582,147+582,147019,2343.12%+19,234
THIRD HARMONIC BIO INC100,000622,873+522,8733473,3820.55%+3,035
89BIO INC804,220875,983+71,7635,8478,6021.40%+2,755
VAXCYTE INC(PCVX)12,80098,032+85,2324833,1870.52%+2,704
AMYLYX PHARMACEUTICALS INC(AMLX)1,471,5871,205,101-266,4865,2097,7251.25%+2,515
ARBUTUS BIOPHARMA CORP(ABUS)1,879,1142,825,773+946,6596,5588,7321.42%+2,174
CORMEDIX INC0175,000+175,00002,1560.35%+2,156
NEWAMSTERDAM PHARMA COMPANY
ORDINARY SHARES
0112,359+112,35902,0350.33%+2,035
ALECTOR INC01,723,526+1,723,52602,4130.39%+2,413
BLUEPRINT MEDICINES CORP015,000+15,00001,9230.31%+1,923
VERONA PHARMA PLC028,450+28,45002,6910.44%+2,691
MOONLAKE IMMUNOTHERAPEUTICS(MLTX)034,314+34,31401,6200.26%+1,620
VIRIDIAN THERAPEUTICS INC(VRDN)79,000170,598+91,5981,0652,3850.39%+1,320
ALKERMES PLC(ALKS)045,000+45,00001,2870.21%+1,287
ARDELYX INC490,743915,130+424,3872,4103,5870.58%+1,178
REZOLUTE INC0989,297+989,29704,4120.72%+4,412
BEST SPAC I ACQUISITION CORP0100,000+100,00001,0040.16%+1,004
SAREPTA THERAPEUTICS INC(SRPT)(Call)055,000+55,0000941+941
RHYTHM PHARMACEUTICALS INC(RYTM)36,89045,390+8,5001,9542,8680.47%+914
CELLDEX THERAPEUTICS INC NEW(CLDX)14,60057,466+42,8662651,1690.19%+904
NEKTAR THERAPEUTICS(NKTR)(Put)035,000+35,0000904+904
NUVALENT INC(NUVL)011,842+11,84209040.15%+904
ACUMEN PHARMACEUTICALS INC0916,183+916,18301,0630.17%+1,063
REGENERON PHARMACEUTICALS(REGN)03,361+3,36101,7650.29%+1,765
KEEN VISION ACQUISITION CORP075,000+75,00008530.14%+853
CENTESSA PHARMACEUTICALS PLC216,166296,766+80,6003,1083,9000.63%+791
ESTABLISHMENT LABS HLDGS INC(ESTA)8,00025,000+17,0003261,0680.17%+741
LARIMAR THERAPEUTICS INC0237,605+237,60506870.11%+687
SAGE THERAPEUTICS INC742,495721,599-20,8965,9036,5811.07%+678
KINIKSA PHARMACEUTICALS INTL(KNSA)056,540+56,54001,5640.25%+1,564
ARGENX SE(ARGX)6001,759+1,1593559700.16%+614
PHARVARIS N V
COM
034,124+34,12406010.10%+601
CIDARA THERAPEUTICS INC021,522+21,52201,0480.17%+1,048
WAVE LIFE SCIENCES LTD(WVE)0114,814+114,81407460.12%+746
MERCK & CO INC(MRK)07,040+7,04005570.09%+557
PULMONX CORP0204,497+204,49705300.09%+530
SANOFI(SNY)010,000+10,00004830.08%+483
TENAX THERAPEUTICS INC68,741155,557+86,8164508960.15%+446
AVALO THERAPEUTICS INC(AVTX)10,000104,730+94,730805230.08%+443
NEKTAR THERAPEUTICS(NKTR)015,796+15,79604080.07%+408
EA SERIES TRUST
ALPHA ARCH 1-3
337,125337,125037,58637,9876.17%+401
AGIOS PHARMACEUTICALS INC(AGIO)27,90035,900+8,0008171,1940.19%+377
VIKING THERAPEUTICS INC(VKTX)59,41367,813+8,4001,4351,7970.29%+362
BIOHAVEN LTD(BHVN)(Call)025,000+25,0000353+353
TECTONIC THERAPEUTIC INC073,505+73,50501,4610.24%+1,461
PHATHOM PHARMACEUTICALS INC(PHAT)063,424+63,42406080.10%+608
DENALI THERAPEUTICS INC(DNLI)035,716+35,71605000.08%+500
KYMERA THERAPEUTICS INC(KYMR)013,366+13,36605830.09%+583
INMUNE BIO INC(Put)0130,200+130,2000301+301
JAZZ PHARMACEUTICALS PLC(JAZZ)02,750+2,75002920.05%+292
SPYRE THERAPEUTICS INC(SYRE)15,03334,051+19,0182435100.08%+267
OMNIAB INC0326,108+326,10805670.09%+567
SUMMIT THERAPEUTICS INC(SMMT)012,000+12,00002550.04%+255
ATYR PHARMA INC(Put)050,000+50,0000254+254
PERCEPTIVE CAP SOLUTIONS COR
CL A ORD SHS
750,000750,00007,7257,9651.29%+240
ORUKA THERAPEUTICS INC(ORKA)132,780142,780+10,0001,3621,6010.26%+238
BICARA THERAPEUTICS INC022,875+22,87502130.03%+213
BRIDGEBIO PHARMA INC(BBIO)0002,2822,4870.40%+206
SUMMIT THERAPEUTICS INC(SMMT)(Call)100,000100,00001,9292,128+199
GERON CORP(GERN)0441,176+441,17606220.10%+622
DYNE THERAPEUTICS INC(DYN)(Call)020,000+20,0000190+190
TREVI THERAPEUTICS INC(TRVI)030,000+30,00001640.03%+164
BRIDGEBIO PHARMA INC(BBIO)0004,0344,1900.68%+155
ARROWHEAD PHARMACEUTICALS IN(ARWR)56,30055,200-1,1007178720.14%+155
POLYPID LTD0103,950+103,95003670.06%+367
DESIGN THERAPEUTICS INC042,408+42,40801430.02%+143
UROGEN PHARMA LTD(URGN)010,000+10,00001370.02%+137
AVANTOR INC(AVTR)010,000+10,00001350.02%+135
DELCATH SYS INC149,385149,38501,9022,0320.33%+130
NEUROGENE INC27,92529,625+1,7003274430.07%+116
PROCAP ACQUISITION CORP010,680+10,68001140.02%+114
ALUMIS INC037,788+37,78801130.02%+113
STOKE THERAPEUTICS INC(STOK)30,08527,285-2,8002003100.05%+110
SOLENO THERAPEUTICS INC017,330+17,33001,4520.24%+1,452
TERNS PHARMACEUTICALS INC028,415+28,41501060.02%+106
NURIX THERAPEUTICS INC(NRIX)031,200+31,20003550.06%+355
RECURSION PHARMACEUTICALS IN(RXRX)035,000+35,00001770.03%+177
REPLIMUNE GROUP INC(REPL)010,400+10,4000970.02%+97
PLIANT THERAPEUTICS INC082,189+82,1890950.02%+95
SYNDAX PHARMACEUTICALS INC(SNDX)010,000+10,0000940.02%+94
OAKTREE ACQUISITION CORP III
UNIT 10/04/2029
516,482516,48205,3925,4800.89%+88
ESSA PHARMA INC050,000+50,0000850.01%+85
AURINIA PHARMACEUTICALS INC(AUPH)010,000+10,0000850.01%+85
EDGEWISE THERAPEUTICS INC(EWTX)20,00040,000+20,0004405240.09%+84
Page 1 of 1