Ikarian Capital, LLC Q2 2025 Filing
Filed August 14, 2025
Portfolio Value
$520.6B
Holdings
114
Report Date
Q2 2025
Filing Type
13F-HR
All Holdings (114 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | CDTXCIDARA THERAPEUTICS INC | 1,287,088 | $62.7B | 12.04% | Put |
| 2 | SLNOSOLENO THERAPEUTICS INC | 400,000 | $33.5B | 6.44% | Put |
| 3 | RAREULTRAGENYX PHARMACEUTICAL IN | 863,100 | $31.4B | 6.03% | Put |
| 4 | PRAXPRAXIS PRECISION MEDICINES I | 519,350 | $21.8B | 4.19% | Call |
| 5 | CAPRCAPRICOR THERAPEUTICS INC | 2,060,200 | $20.5B | 3.93% | Put |
| 6 | ALNYALNYLAM PHARMACEUTICALS INC | 56,594 | $18.5B | 3.54% | |
| 7 | IM8NINSMED INC | 163,751 | $16.5B | 3.17% | |
| 8 | AKROAKERO THERAPEUTICS INC | 264,400 | $14.1B | 2.71% | Call |
| 9 | VRNAVERONA PHARMA PLC | 146,831 | $13.9B | 2.67% | |
| 10 | APGEAPOGEE THERAPEUTICS INC | 319,547 | $13.9B | 2.67% | Put |
| 11 | MLTXMOONLAKE IMMUNOTHERAPEUTICS | 289,000 | $13.6B | 2.62% | Put |
| 12 | SRPTSAREPTA THERAPEUTICS INC | 781,187 | $13.4B | 2.57% | Call |
| 13 | CYTKCYTOKINETICS INC | 383,464 | $12.7B | 2.43% | Call |
| 14 | CRNXCRINETICS PHARMACEUTICALS IN | 433,431 | $12.5B | 2.39% | |
| 15 | VKTXVIKING THERAPEUTICS INC | 450,000 | $11.9B | 2.29% | Call |
| 16 | QUREUNIQURE NV | 800,000 | $11.2B | 2.14% | Call |
| 17 | PCVXVAXCYTE INC | 311,900 | $10.1B | 1.95% | Call |
| 18 | COGTCOGENT BIOSCIENCES INC | 1,298,128 | $9.3B | 1.79% | Call |
| 19 | ACOGALPHA COGNITION INC | 917,867 | $8.6B | 1.64% | |
| 20 | TARSTARSUS PHARMACEUTICALS INC | 196,536 | $8.0B | 1.53% | |
| 21 | TGTXTG THERAPEUTICS INC | 209,938 | $7.6B | 1.45% | |
| 22 | KALVKALVISTA PHARMACEUTICALS INC | 598,528 | $6.8B | 1.30% | Call |
| 23 | FULCFULCRUM THERAPEUTICS INC | 962,521 | $6.6B | 1.27% | Call |
| 24 | VRDNVIRIDIAN THERAPEUTICS INC | 469,949 | $6.6B | 1.26% | |
| 25 | ARVNARVINAS INC | 850,000 | $6.3B | 1.20% | |
| 26 | FBRXFORTE BIOSCIENCES INC | 476,443 | $6.2B | 1.18% | |
| 27 | VIRVIR BIOTECHNOLOGY INC | 1,068,062 | $5.4B | 1.03% | |
| 28 | SRRKSCHOLAR ROCK HLDG CORP | 149,179 | $5.3B | 1.01% | Call |
| 29 | CPRXCATALYST PHARMACEUTICALS INC | 209,649 | $4.5B | 0.87% | |
| 30 | DCTHDELCATH SYS INC | 322,390 | $4.4B | 0.84% | |
| 31 | JAZZJAZZ PHARMACEUTICALS PLC | 40,000 | $4.2B | 0.82% | |
| 32 | BHVNBIOHAVEN LTD | 300,000 | $4.2B | 0.81% | Call |
| 33 | CGONCG ONCOLOGY INC | 155,000 | $4.0B | 0.77% | |
| 34 | VERAVERA THERAPEUTICS INC | 167,296 | $3.9B | 0.76% | Call |
| 35 | STIMNEURONETICS INC | 1,099,700 | $3.8B | 0.74% | |
| 36 | GPCRSTRUCTURE THERAPEUTICS INC | 183,085 | $3.8B | 0.73% | |
| 37 | NAMSNEWAMSTERDAM PHARMA COMPANY | 206,800 | $3.7B | 0.72% | |
| 38 | DYNDYNE THERAPEUTICS INC | 363,837 | $3.5B | 0.67% | |
| 39 | TEVATEVA PHARMACEUTICAL INDS LTD | 200,000 | $3.4B | 0.64% | Call |
| 40 | TECXTECTONIC THERAPEUTIC INC | 163,696 | $3.3B | 0.62% | |
| 41 | MAZEMAZE THERAPEUTICS INC | 262,740 | $3.2B | 0.62% | |
| 42 | ALTALTIMMUNE INC | 827,500 | $3.2B | 0.62% | Call |
| 43 | JANXJANUX THERAPEUTICS INC | 129,691 | $3.0B | 0.58% | |
| 44 | ELDNELEDON PHARMACEUTICALS INC | 1,000,221 | $2.7B | 0.52% | |
| 45 | BIIBBIOGEN INC | 21,516 | $2.7B | 0.52% | |
| 46 | CNTACENTESSA PHARMACEUTICALS PLC | 200,000 | $2.6B | 0.50% | Call |
| 47 | RLAYRELAY THERAPEUTICS INC | 743,308 | $2.6B | 0.49% | |
| 48 | ARCTARCTURUS THERAPEUTICS HLDGS | 175,000 | $2.3B | 0.44% | |
| 49 | GONGERON CORP | 1,600,000 | $2.3B | 0.43% | |
| 50 | KODKODIAK SCIENCES INC | 599,534 | $2.2B | 0.43% | |
| 51 | LXEOLEXEO THERAPEUTICS INC | 550,029 | $2.2B | 0.42% | |
| 52 | MTSRMETSERA INC | 77,316 | $2.2B | 0.42% | |
| 53 | VTYXVENTYX BIOSCIENCES INC | 967,590 | $2.1B | 0.40% | |
| 54 | CPIXCUMBERLAND PHARMACEUTICALS I | 595,932 | $2.0B | 0.38% | |
| 55 | PRQRPROQR THRAPEUTICS N V | 868,069 | $1.8B | 0.34% | |
| 56 | DRUGBRIGHT MINDS BIOSCIENCES INC | 65,431 | $1.7B | 0.33% | |
| 57 | QUREUNIQURE NV | 119,986 | $1.7B | 0.32% | |
| 58 | SLNSILENCE THERAPEUTICS PLC | 873,568 | $1.4B | 0.27% | |
| 59 | RCUSARCUS BIOSCIENCES INC | 163,363 | $1.3B | 0.26% | |
| 60 | APLSAPELLIS PHARMACEUTICALS INC | 75,000 | $1.3B | 0.25% | |
| 61 | ALECALECTOR INC | 900,000 | $1.3B | 0.24% | |
| 62 | NUVBNUVATION BIO INC | 619,258 | $1.2B | 0.23% | |
| 63 | VTGNVISTAGEN THERAPEUTICS INC | 601,703 | $1.2B | 0.23% | |
| 64 | HELPCYBIN INC | 140,475 | $1.2B | 0.23% | |
| 65 | TRMLTOURMALINE BIO INC | 67,927 | $1.1B | 0.21% | |
| 66 | WVEWAVE LIFE SCIENCES LTD | 161,137 | $1.0B | 0.20% | |
| 67 | VERUEURVERU INC | 1,425,239 | $829.2M | 0.16% | |
| 68 | ORKAORUKA THERAPEUTICS INC | 68,574 | $768.7M | 0.15% | |
| 69 | IBBISHARES TR | 5,755 | $728.1M | 0.14% | |
| 70 | GBYSANGAMO THERAPEUTICS INC | 1,260,179 | $682.1M | 0.13% | |
| 71 | IMUXIMMUNIC INC | 914,170 | $637.6M | 0.12% | |
| 72 | PRTAPROTHENA CORP PLC | 100,000 | $607.0M | 0.12% | Call |
| 73 | INBXINHIBRX BIOSCIENCES INC | 42,122 | $601.1M | 0.12% | |
| 74 | IFRXINFLARX NV | 705,010 | $557.0M | 0.11% | |
| 75 | KZRKEZAR LIFE SCIENCES INC | 106,901 | $489.6M | 0.09% | |
| 76 | VYNEVYNE THERAPEUTICS INC | 290,000 | $478.5M | 0.09% | |
| 77 | IBIOIBIO INC | 599,913 | $457.8M | 0.09% | |
| 78 | KYMRKYMERA THERAPEUTICS INC | 10,000 | $436.4M | 0.08% | Put |
| 79 | BRD1EURMIND MEDICINE MINDMED INC | 62,691 | $406.9M | 0.08% | |
| 80 | PHGEBIOMX INC | 892,976 | $401.8M | 0.08% | |
| 81 | LYELLYELL IMMUNOPHARMA INC | 43,799 | $387.2M | 0.07% | |
| 82 | NYXHNYXOAH S A | 50,627 | $378.7M | 0.07% | |
| 83 | ANABANAPTYSBIO INC | 15,662 | $347.7M | 0.07% | |
| 84 | ZYMEZYMEWORKS INC | 25,000 | $313.8M | 0.06% | |
| 85 | ABOSACUMEN PHARMACEUTICALS INC | 265,769 | $308.3M | 0.06% | |
| 86 | IMTXIMMATICS N.V | 49,396 | $265.8M | 0.05% | |
| 87 | VIGLVIGIL NEUROSCIENCE INC | 31,360 | $249.3M | 0.05% | |
| 88 | CMMBCHEMOMAB THERAPEUTICS LTD | 213,052 | $247.1M | 0.05% | |
| 89 | ANROALTO NEUROSCIENCE INC | 110,000 | $242.0M | 0.05% | |
| 90 | RNACCARTESIAN THERAPEUTICS INC | 22,166 | $230.3M | 0.04% | |
| 91 | ANEBANEBULO PHARMACEUTICALS INC | 157,720 | $227.1M | 0.04% | |
| 92 | TERNTERNS PHARMACEUTICALS INC | 58,491 | $218.2M | 0.04% | |
| 93 | EVAXEVAXION AS | 80,000 | $196.0M | 0.04% | |
| 94 | SNSESENSEI BIOTHERAPEUTICS INC | 22,497 | $193.0M | 0.04% | |
| 95 | LYRALYRA THERAPEUTICS INC | 21,161 | $189.6M | 0.04% | |
| 96 | —AETHLON MED INC | 153,659 | $184.4M | 0.04% | |
| 97 | AVTXAVALO THERAPEUTICS INC | 35,300 | $176.1M | 0.03% | |
| 98 | VYGRVOYAGER THERAPEUTICS INC | 55,766 | $173.4M | 0.03% | |
| 99 | LXRXLEXICON PHARMACEUTICALS INC | 176,479 | $166.9M | 0.03% | |
| 100 | PEPGPEPGEN INC | 150,000 | $166.5M | 0.03% |
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