Stonepine Capital Management, LLC Q3 2025 Filing
Filed November 13, 2025
Portfolio Value
$123.0B
Holdings
58
Report Date
Q3 2025
Filing Type
13F-HR
All Holdings (58 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | VSTMVERASTEM INC | 2,670,032 | $23.6B | 19.17% | |
| 2 | ADMAADMA BIOLOGICS INC | 739,000 | $10.8B | 8.81% | |
| 3 | EOLSEVOLUS INC | 1,536,391 | $9.4B | 7.67% | |
| 4 | ZVRAZEVRA THERAPEUTICS INC | 810,000 | $7.7B | 6.26% | |
| 5 | NKTRNEKTAR THERAPEUTICS | 85,000 | $4.8B | 3.93% | |
| 6 | DAWNDAY ONE BIOPHARMACEUTICALS I | 647,382 | $4.6B | 3.71% | |
| 7 | XOMAXOMA ROYALTY CORPORATION | 115,459 | $4.4B | 3.62% | |
| 8 | ACADACADIA PHARMACEUTICALS INC | 174,544 | $3.7B | 3.03% | |
| 9 | ENTAENANTA PHARMACEUTICALS INC | 305,000 | $3.7B | 2.97% | |
| 10 | XFORX4 PHARMACEUTICALS INC | 1,056,338 | $3.6B | 2.94% | |
| 11 | OABIOMNIAB INC | 2,142,857 | $3.4B | 2.79% | |
| 12 | SRZNSURROZEN INC | 250,146 | $3.2B | 2.62% | |
| 13 | TELATELA BIO INC | 2,155,519 | $3.2B | 2.61% | |
| 14 | —INDIVIOR PLC | 100,000 | $2.4B | 1.96% | |
| 15 | ABEOABEONA THERAPEUTICS INC | 450,970 | $2.4B | 1.94% | |
| 16 | GONGERON CORP | 1,600,000 | $2.2B | 1.78% | |
| 17 | PMVPPMV PHARMACEUTICALS INC | 1,370,139 | $1.9B | 1.56% | |
| 18 | EDSAEDESA BIOTECH INC | 687,500 | $1.7B | 1.38% | |
| 19 | AYTUAYTU BIOPHARMA INC | 891,855 | $1.7B | 1.36% | |
| 20 | SLNOSOLENO THERAPEUTICS INC | 24,000 | $1.6B | 1.32% | |
| 21 | KZRKEZAR LIFE SCIENCES INC | 383,182 | $1.5B | 1.21% | |
| 22 | ALMSALUMIS INC | 300,000 | $1.2B | 0.97% | |
| 23 | IKTINHIBIKASE THERAPEUTICS INC | 735,019 | $1.2B | 0.97% | |
| 24 | BIOABIOAGE LABS INC | 188,571 | $1.1B | 0.90% | |
| 25 | ARDXARDELYX INC | 200,000 | $1.1B | 0.90% | |
| 26 | LUNGPULMONX CORP | 670,000 | $1.1B | 0.88% | |
| 27 | DVAXDYNAVAX TECHNOLOGIES CORP | 108,094 | $1.1B | 0.87% | |
| 28 | HRTXHERON THERAPEUTICS INC | 850,100 | $1.1B | 0.87% | |
| 29 | VNDAVANDA PHARMACEUTICALS INC | 195,000 | $973.0M | 0.79% | |
| 30 | VIRVIR BIOTECHNOLOGY INC | 160,000 | $913.6M | 0.74% | |
| 31 | MNKDMANNKIND CORP | 157,569 | $846.1M | 0.69% | |
| 32 | MXCTGBXMAXCYTE INC | 459,018 | $725.2M | 0.59% | |
| 33 | ANTXAN2 THERAPEUTICS INC | 563,913 | $716.2M | 0.58% | |
| 34 | ZNTLZENTALIS PHARMACEUTICALS INC | 453,800 | $685.2M | 0.56% | |
| 35 | ANGOANGIODYNAMICS INC | 60,000 | $670.2M | 0.54% | |
| 36 | GRCEGRACE THERAPEUTICS INC | 211,010 | $628.2M | 0.51% | |
| 37 | RAREULTRAGENYX PHARMACEUTICAL IN | 20,000 | $601.6M | 0.49% | |
| 38 | SNDXSYNDAX PHARMACEUTICALS INC | 37,200 | $572.3M | 0.47% | |
| 39 | AQSTAQUESTIVE THERAPEUTICS INC | 100,600 | $562.4M | 0.46% | |
| 40 | GOSSGOSSAMER BIO INC | 204,770 | $538.5M | 0.44% | |
| 41 | BOLDBOUNDLESS BIO INC | 413,453 | $508.5M | 0.41% | |
| 42 | HCATHEALTH CATALYST INC | 155,551 | $443.3M | 0.36% | |
| 43 | ESTAESTABLISHMENT LABS HLDGS INC | 10,585 | $433.9M | 0.35% | |
| 44 | PLRXPLIANT THERAPEUTICS INC | 289,237 | $428.1M | 0.35% | |
| 45 | CTMXCYTOMX THERAPEUTICS INC | 125,000 | $398.8M | 0.32% | |
| 46 | KPRXKIORA PHARMACEUTICALS INC | 140,598 | $390.9M | 0.32% | |
| 47 | RZLTREZOLUTE INC | 40,000 | $376.0M | 0.31% | |
| 48 | ACRSACLARIS THERAPEUTICS INC | 192,900 | $366.5M | 0.30% | |
| 49 | INABIN8BIO INC | 159,421 | $345.9M | 0.28% | |
| 50 | HSDTHELIUS MED TECHNOLOGIES INC | 20,000 | $297.8M | 0.24% | |
| 51 | CDXSCODEXIS INC | 88,264 | $215.4M | 0.18% | |
| 52 | YB4PSAVARA INC | 60,000 | $214.2M | 0.17% | |
| 53 | ABVXABIVAX SA | 2,500 | $212.3M | 0.17% | |
| 54 | PCSAPROCESSA PHARMACEUTICALS INC | 1,030,200 | $197.7M | 0.16% | |
| 55 | LRMRLARIMAR THERAPEUTICS INC | 25,000 | $80.8M | 0.07% | |
| 56 | CMMBCHEMOMAB THERAPEUTICS LTD | 30,000 | $78.9M | 0.06% | |
| 57 | WHWKWHITEHAWK THERAPEUTICS INC | 35,253 | $67.0M | 0.05% | |
| 58 | JSPRJASPER THERAPEUTICS INC | 20,200 | $48.1M | 0.04% |