ADAR1 Capital Management, LLC Q2 2025 Filing

Filed August 14, 2025

Portfolio Value

$652.1B

Holdings

203

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (203 positions)

#StockSharesValue% PortfolioType
101
XNCRXENCOR INC
85,826$674.6M0.10%
102
CTNMCONTINEUM THERAPEUTICS INC
166,799$662.2M0.10%
103
BIIBBIOGEN INC
5,100$640.5M0.10%
104
GONGERON CORP
441,176$622.1M0.10%
105
PHATPHATHOM PHARMACEUTICALS INC
63,424$608.2M0.09%
106
PHVSPHARVARIS N V
34,124$600.6M0.09%
107
LXEOLEXEO THERAPEUTICS INC
145,109$583.3M0.09%
108
KYMRKYMERA THERAPEUTICS INC
13,366$583.3M0.09%
109
OABIOMNIAB INC
326,108$567.4M0.09%
110
MRKMERCK & CO INC
7,040$557.3M0.09%
111
LUNGPULMONX CORP
204,497$529.6M0.08%
112
GRCEGRACE THERAPEUTICS INC
176,627$524.6M0.08%
113
EWTXEDGEWISE THERAPEUTICS INC
40,000$524.4M0.08%
114
AVTXAVALO THERAPEUTICS INC
104,730$522.6M0.08%
115
SYRESPYRE THERAPEUTICS INC
34,051$509.7M0.08%
116
USFRWISDOMTREE TR
10,000$503.1M0.08%
117
DNLIDENALI THERAPEUTICS INC
35,716$499.7M0.08%
118
SNYSANOFI
10,000$483.1M0.07%
119
KPRXKIORA PHARMACEUTICALS INC
167,111$481.3M0.07%
120
NGNENEUROGENE INC
29,625$442.9M0.07%
121
NABORS ENERGY TRANSITION COR
39,900$442.9M0.07%
122
NTRANATERA INC
2,500$422.4M0.06%
123
SPROSPERO THERAPEUTICS INC
143,917$417.4M0.06%
124
DYNDYNE THERAPEUTICS INC
43,063$410.0M0.06%Call
125
LLYELI LILLY & CO
500$389.8M0.06%
126
TARAPROTARA THERAPEUTICS INC
122,690$371.8M0.06%
127
FULCFULCRUM THERAPEUTICS INC
53,349$367.0M0.06%
128
PYPDPOLYPID LTD
103,950$366.9M0.06%
129
VTYXVENTYX BIOSCIENCES INC
168,600$360.8M0.06%
130
NRIXNURIX THERAPEUTICS INC
31,200$355.4M0.05%
131
MDGLMADRIGAL PHARMACEUTICALS INC
1,054$319.0M0.05%
132
GPCRSTRUCTURE THERAPEUTICS INC
15,000$311.1M0.05%
133
STOKSTOKE THERAPEUTICS INC
27,285$309.7M0.05%
134
INMBINMUNE BIO INC
130,200$300.8M0.05%Put
135
APLSAPELLIS PHARMACEUTICALS INC
17,000$294.3M0.05%
136
ANSCAGRICULTURE & NAT SOL ACQ CO
27,062$293.6M0.05%
137
JAZZJAZZ PHARMACEUTICALS PLC
2,750$291.8M0.04%
138
GOSSGOSSAMER BIO INC
227,228$279.5M0.04%
139
BMRNBIOMARIN PHARMACEUTICAL INC
4,900$269.4M0.04%
140
5E7ITEOS THERAPEUTICS INC
26,937$268.6M0.04%
141
UCFIIRON HORSE ACQUISITIONS CORP
25,000$258.1M0.04%
142
ATYRATYR PHARMA INC
50,000$253.5M0.04%Put
143
VYGRVOYAGER THERAPEUTICS INC
79,945$248.6M0.04%
144
TXMDTHERAPEUTICSMD INC
209,210$242.7M0.04%
145
ASNDASCENDIS PHARMA A/S
1,402$242.0M0.04%
146
QNCXQUINCE THERAPEUTICS INC
142,958$235.9M0.04%
147
CNTXCONTEXT THERAPEUTICS INC
351,094$230.0M0.04%
148
BCAXBICARA THERAPEUTICS INC
22,875$212.5M0.03%
149
KURAKURA ONCOLOGY INC
34,300$197.9M0.03%
150
DAWNDAY ONE BIOPHARMACEUTICALS I
28,023$182.2M0.03%
151
RXRXRECURSION PHARMACEUTICALS IN
35,000$177.1M0.03%
152
TRVITREVI THERAPEUTICS INC
30,000$164.1M0.03%
153
COLOMBIER ACQUISITION CORP I
10,000$154.6M0.02%
154
AVXLANAVEX LIFE SCIENCES CORP
16,221$149.6M0.02%
155
INZYINOZYME PHARMA INC
37,161$148.6M0.02%
156
CLYMCLIMB BIO INC
119,320$148.0M0.02%
157
DSGNDESIGN THERAPEUTICS INC
42,408$142.9M0.02%
158
URGNUROGEN PHARMA LTD
10,000$137.0M0.02%
159
PHGEBIOMX INC
299,598$134.8M0.02%
160
CLOVCLOVER HEALTH INVESTMENTS CO
48,300$134.8M0.02%
161
AVTRAVANTOR INC
10,000$134.6M0.02%
162
PCAPPROCAP ACQUISITION CORP
10,680$114.5M0.02%
163
ALMSALUMIS INC
37,788$113.4M0.02%
164
KALVKALVISTA PHARMACEUTICALS INC
10,000$113.0M0.02%
165
SLNSILENCE THERAPEUTICS PLC
18,643$108.1M0.02%
166
PMVPPMV PHARMACEUTICALS INC
101,008$107.1M0.02%
167
TERNTERNS PHARMACEUTICALS INC
28,415$106.0M0.02%
168
ENGNENGENE HOLDINGS INC
27,787$101.1M0.02%
169
SP4PACHIEVE LIFE SCIENCES INC
43,173$97.6M0.01%
170
OGNORGANON & CO
10,000$96.8M0.01%
171
REPLREPLIMUNE GROUP INC
10,400$96.6M0.01%
172
PLRXPLIANT THERAPEUTICS INC
82,189$95.3M0.01%
173
SNDXSYNDAX PHARMACEUTICALS INC
10,000$93.7M0.01%
174
EPIEURESSA PHARMA INC
50,000$85.0M0.01%
175
AUPHAURINIA PHARMACEUTICALS INC
10,000$84.7M0.01%
176
STTKSHATTUCK LABS INC
102,948$81.5M0.01%
177
RLMDRELMADA THERAPEUTICS INC
130,000$78.0M0.01%
178
BCABBIOATLA INC
170,506$67.5M0.01%
179
CMPXCOMPASS THERAPEUTICS INC
25,000$65.0M0.01%
180
BOLTBOLT BIOTHERAPEUTICS INC
10,823$62.4M0.01%
181
ZNTLZENTALIS PHARMACEUTICALS INC
50,000$58.0M0.01%
182
NXTCNEXTCURE INC
118,012$54.3M0.01%
183
CASI PHARMACEUTICALS INC
44,120$52.1M0.01%
184
YCYAA MISSION ACQUISITION CORP
505,099$49.7M0.01%
185
ELDNELEDON PHARMACEUTICALS INC
16,900$45.8M0.01%
186
IBIOIBIO INC
54,819$41.8M0.01%
187
OVIDOVID THERAPEUTICS INC
115,867$38.2M0.01%
188
ASPCRA SPAC III ACQUISITION CORP
215,000$36.5M0.01%
189
MURAL ONCOLOGY PUB LTD CO
11,855$29.3M0.00%
190
RNXTRENOVORX INC
19,889$26.2M0.00%
191
OKURONKURE THERAPEUTICS INC
10,000$23.9M0.00%
192
PEPGPEPGEN INC
20,352$22.6M0.00%
193
NERVMINERVA NEUROSCIENCES INC
12,406$21.3M0.00%
194
JVSPAC ACQUISITION CORP
24,000$20.9M0.00%
195
PRQRPROQR THRAPEUTICS N V
10,000$20.4M0.00%
196
ILMNMOVANO INC
19,146$13.0M0.00%
197
CYPHLEAP THERAPEUTICS INC
39,925$11.9M0.00%
198
CNTBCONNECT BIOPHARMA HLDGS LTD
10,300$10.1M0.00%
199
CHRSCOHERUS ONCOLOGY INC
10,366$7.6M0.00%
200
IRON HORSE ACQUISITIONS CORP
12,320$6.1M0.00%
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