TANG CAPITAL MANAGEMENT LLC Q2 2025 Filing
Filed August 14, 2025
Portfolio Value
$2.0T
Holdings
200
Report Date
Q2 2025
Filing Type
13F-HR
All Holdings (200 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | GLPGGALAPAGOS NV | 3,990,111 | $111.7B | 5.65% | |
| 2 | TARSTARSUS PHARMACEUTICALS INC | 2,454,797 | $99.4B | 5.03% | |
| 3 | AUPHAURINIA PHARMACEUTICALS INC | 10,029,500 | $84.9B | 4.29% | |
| 4 | IMCRIMMUNOCORE HLDGS PLC | 2,105,608 | $66.1B | 3.34% | |
| 5 | KNSAKINIKSA PHARMACEUTICALS INTL | 2,328,609 | $64.4B | 3.26% | |
| 6 | MIRMMIRUM PHARMACEUTICALS INC | 1,236,027 | $62.9B | 3.18% | |
| 7 | KALVKALVISTA PHARMACEUTICALS INC | 4,941,798 | $55.9B | 2.82% | |
| 8 | PTCTPTC THERAPEUTICS INC | 1,100,000 | $53.7B | 2.72% | |
| 9 | SYRESPYRE THERAPEUTICS INC | 3,200,000 | $47.9B | 2.42% | |
| 10 | EOLSEVOLUS INC | 4,997,399 | $46.0B | 2.33% | |
| 11 | VRDNVIRIDIAN THERAPEUTICS INC | 2,842,925 | $39.7B | 2.01% | |
| 12 | 5E7ITEOS THERAPEUTICS INC | 3,826,692 | $38.2B | 1.93% | |
| 13 | CMPXCOMPASS THERAPEUTICS INC | 13,496,208 | $35.1B | 1.77% | |
| 14 | ACADACADIA PHARMACEUTICALS INC | 1,500,000 | $32.4B | 1.64% | |
| 15 | VERAVERA THERAPEUTICS INC CL A | 1,350,000 | $31.8B | 1.61% | |
| 16 | MRUSMERUS N V | 600,000 | $31.6B | 1.60% | |
| 17 | REPLREPLIMUNE GROUP INC | 3,200,000 | $29.7B | 1.50% | |
| 18 | ANABANAPTYSBIO INC | 1,330,879 | $29.5B | 1.49% | |
| 19 | LEGNLEGEND BIOTECH CORP | 830,000 | $29.5B | 1.49% | |
| 20 | BNTXBIONTECH SE | 270,000 | $28.7B | 1.45% | |
| 21 | RLAYRELAY THERAPEUTICS INC | 8,068,058 | $27.9B | 1.41% | |
| 22 | LENZLENZ THERAPEUTICS INC | 897,616 | $26.3B | 1.33% | |
| 23 | CTMXCYTOMX THERAPEUTICS INC | 11,065,662 | $25.1B | 1.27% | |
| 24 | MTDMETTLER-TOLEDO INTERNATIONAL | 19,500 | $22.9B | 1.16% | |
| 25 | BABOEING CO | 105,662 | $22.1B | 1.12% | |
| 26 | BSFAANI PHARMACEUTICALS INC | 317,500 | $20.7B | 1.05% | |
| 27 | NVDANVIDIA CORPORATION | 130,509 | $20.6B | 1.04% | |
| 28 | JAZZJAZZ PHARMACEUTICALS PLC | 190,000 | $20.2B | 1.02% | |
| 29 | IM8NINSMED INC | 200,000 | $20.1B | 1.02% | |
| 30 | DVAXDYNAVAX TECHNOLOGIES CORP | 1,949,500 | $19.3B | 0.98% | |
| 31 | METAMETA PLATFORMS INC | 26,008 | $19.2B | 0.97% | |
| 32 | ADMAADMA BIOLOGICS INC | 1,050,000 | $19.1B | 0.97% | |
| 33 | KROSKEROS THERAPEUTICS INC | 1,418,984 | $18.9B | 0.96% | |
| 34 | NBIXNEUROCRINE BIOSCIENCES INC | 150,000 | $18.9B | 0.95% | |
| 35 | AVDLAVADEL PHARMACEUTICALS PLC | 2,097,500 | $18.6B | 0.94% | |
| 36 | AVIRATEA PHARMACEUTICALS INC | 4,889,200 | $17.6B | 0.89% | |
| 37 | GSKGSK PLC | 400,000 | $15.4B | 0.78% | |
| 38 | HELPCYBIN INC | 1,830,097 | $15.4B | 0.78% | |
| 39 | LQDALIQUIDIA CORPORATION | 1,143,759 | $14.3B | 0.72% | |
| 40 | ZYMEZYMEWORKS INC | 1,100,000 | $13.8B | 0.70% | |
| 41 | URGNUROGEN PHARMA LTD | 1,000,000 | $13.7B | 0.69% | |
| 42 | DERMJOURNEY MED CORP | 1,854,596 | $13.3B | 0.67% | |
| 43 | CRGXCARGO THERAPEUTICS INC | 3,059,630 | $12.6B | 0.64% | |
| 44 | TDOCTELADOC HEALTH INC | 1,400,000 | $12.2B | 0.62% | |
| 45 | NKTXNKARTA INC | 7,055,576 | $11.7B | 0.59% | |
| 46 | ELANELANCO ANIMAL HEALTH INC | 800,100 | $11.4B | 0.58% | |
| 47 | VNDAVANDA PHARMACEUTICALS INC | 2,353,307 | $11.1B | 0.56% | |
| 48 | ALTALTIMMUNE INC | 2,750,000 | $10.6B | 0.54% | |
| 49 | AZNASTRAZENECA PLC | 150,000 | $10.5B | 0.53% | |
| 50 | TVTXTRAVERE THERAPEUTICS INC | 700,000 | $10.4B | 0.52% | |
| 51 | ARVNARVINAS INC | 1,393,800 | $10.3B | 0.52% | |
| 52 | VKTXVIKING THERAPEUTICS INC | 370,000 | $9.8B | 0.50% | |
| 53 | HLVXHILLEVAX INC | 4,920,000 | $9.8B | 0.49% | |
| 54 | PCVXVAXCYTE INC | 300,000 | $9.8B | 0.49% | |
| 55 | SNYSANOFI | 200,000 | $9.7B | 0.49% | |
| 56 | WGSGENEDX HOLDINGS CORP | 100,000 | $9.2B | 0.47% | |
| 57 | ABCLABCELLERA BIOLOGICS INC | 2,600,000 | $8.9B | 0.45% | |
| 58 | HRMYHARMONY BIOSCIENCES HLDGS IN | 281,200 | $8.9B | 0.45% | |
| 59 | APGEAPOGEE THERAPEUTICS INC | 200,000 | $8.7B | 0.44% | |
| 60 | IDXXIDEXX LABS INC | 16,000 | $8.6B | 0.43% | |
| 61 | CGEMCULLINAN THERAPEUTICS INC | 1,121,138 | $8.4B | 0.43% | |
| 62 | MRNAMODERNA INC | 305,300 | $8.4B | 0.43% | |
| 63 | BABAALIBABA GROUP HOLDING LTD ADR | 70,000 | $7.9B | 0.40% | |
| 64 | LLYELI LILLY & CO | 10,000 | $7.8B | 0.39% | |
| 65 | NUVBNUVATION BIO INC | 3,900,000 | $7.6B | 0.38% | |
| 66 | EPIEURESSA PHARMA INC | 4,300,000 | $7.3B | 0.37% | |
| 67 | SRPTSAREPTA THERAPEUTICS INC | 420,300 | $7.2B | 0.36% | |
| 68 | BCRXBIOCRYST PHARMACEUTICALS INC | 800,000 | $7.2B | 0.36% | |
| 69 | BLCOBAUSCH PLUS LOMB CORP | 550,000 | $7.2B | 0.36% | |
| 70 | PLRXPLIANT THERAPEUTICS INC | 6,000,000 | $7.0B | 0.35% | |
| 71 | VTYXVENTYX BIOSCIENCES INC | 3,100,000 | $6.6B | 0.34% | |
| 72 | BIOABIOAGE LABS INC | 1,600,000 | $6.6B | 0.33% | |
| 73 | IBRXIMMUNITYBIO INC | 2,333,333 | $6.2B | 0.31% | |
| 74 | DSGNDESIGN THERAPEUTICS INC | 1,780,975 | $6.0B | 0.30% | |
| 75 | ALMSALUMIS INC | 1,996,797 | $6.0B | 0.30% | |
| 76 | ISIIONIS PHARMACEUTICALS INC | 150,000 | $5.9B | 0.30% | |
| 77 | STOKSTOKE THERAPEUTICS INC | 500,000 | $5.7B | 0.29% | |
| 78 | EWTXEDGEWISE THERAPEUTICS INC | 431,300 | $5.7B | 0.29% | |
| 79 | SMMTSUMMIT THERAPEUTICS INC | 250,000 | $5.3B | 0.27% | |
| 80 | REGNREGENERON PHARMACEUTICALS | 10,000 | $5.3B | 0.27% | |
| 81 | BDTXBLACK DIAMOND THERAPEUTICS I | 2,070,209 | $5.1B | 0.26% | |
| 82 | THRDTHIRD HARMONIC BIO INC | 929,727 | $5.0B | 0.26% | |
| 83 | TORCEURADICET BIO INC | 8,223,612 | $5.0B | 0.25% | |
| 84 | DNTHDIANTHUS THERAPEUTICS INC | 264,692 | $4.9B | 0.25% | |
| 85 | BHCBAUSCH HEALTH COS INC | 736,827 | $4.9B | 0.25% | |
| 86 | JANXJANUX THERAPEUTICS INC | 200,000 | $4.6B | 0.23% | |
| 87 | VRTXVERTEX PHARMACEUTICALS INC | 10,000 | $4.5B | 0.23% | |
| 88 | HRTXHERON THERAPEUTICS INC | 2,135,459 | $4.4B | 0.22% | |
| 89 | BIIBBIOGEN INC | 35,000 | $4.4B | 0.22% | |
| 90 | SLNOSOLENO THERAPEUTICS INC | 50,000 | $4.2B | 0.21% | |
| 91 | GMABGENMAB A/S | 200,000 | $4.1B | 0.21% | |
| 92 | LNTHLANTHEUS HLDGS INC | 50,000 | $4.1B | 0.21% | |
| 93 | BRD1EURMIND MEDICINE MINDMED INC | 600,200 | $3.9B | 0.20% | |
| 94 | NUVLNUVALENT INC | 50,000 | $3.8B | 0.19% | |
| 95 | NVV1NOVAVAX INC | 600,000 | $3.8B | 0.19% | |
| 96 | CHRSCOHERUS ONCOLOGY INC | 5,097,362 | $3.7B | 0.19% | |
| 97 | RVMDREVOLUTION MEDICINES INC | 100,000 | $3.7B | 0.19% | |
| 98 | CMPSCOMPASS PATHWAYS PLC | 1,300,000 | $3.6B | 0.18% | |
| 99 | TGTXTG THERAPEUTICS INC | 100,000 | $3.6B | 0.18% | |
| 100 | TECXTECTONIC THERAPEUTIC INC | 179,166 | $3.6B | 0.18% |
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