Q4 2025 · 13F-HR
Vivo Capital, LLCholdings as filed
Filed 2026-02-13 · accession 0001213900-26-016236
$1.55B
Reported value
47
Positions
2025-12-31
Period end
The Brief · Vivo Capital, LLC · Q4 2025
AI · grounded in 13F
Vivo Capital, LLC closed its position in Verona Pharma PLC VRNA, reducing exposure by $148.69M. The fund also exited positions in Tourmaline Bio Inc. TRML, Akero Therapeutics Inc AKRO, and Rezolute Inc RZLT. To offset these exits, the fund established a new position in Alto Neuroscience Inc ANRO valued at $18.43M and increased its stake in DBV Technologies SA DBVT by 133.44%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 880881107 | 430 | Terns Pharmaceuticals Inc | $216.0M | 14.0% | 5,346,928 | Common | SOLE |
| 171757206 | CDTX | Cidara Therapeutics, Inc. | $211.3M | 13.7% | 956,670 | Common | SOLE |
| 74006W207 | PRAX | Praxis Precision Medicines | $96.9M | 6.27% | 328,895 | Common | SOLE |
| 19240Q201 | COGT | Cogent Biosciences Inc | $85.2M | 5.51% | 2,398,993 | Common | SOLE |
| 89532M101 | TRVI | Trevi Therapeutics Inc | $63.8M | 4.12% | 5,094,668 | Common | SOLE |
| G29687103 | AVDL | Avadel Pharmaceuticals PLC | $57.8M | 3.74% | 2,684,109 | Common | SOLE |
| 20454B104 | CMPX | Compass Therapeutics Inc | $51.3M | 3.31% | 9,545,466 | Common | SOLE |
| 26818M108 | DYN | Dyne Therapeutics Inc | $51.1M | 3.31% | 2,614,960 | Common | SOLE |
| 00370M103 | ABVX | Abivax SA - ADR | $48.5M | 3.13% | 359,305 | Common | SOLE |
| 23306J309 | DBVT | DBV Technologies SA | $47.2M | 3.05% | 2,461,626 | Common | SOLE |
| 78397T202 | SABS | SAB Biotherapeutics Inc | $42.7M | 2.76% | 11,420,000 | Common | SOLE |
| 834203309 | SLNO | Soleno Therapeutics Inc | $41.4M | 2.68% | 894,909 | Common | SOLE |
| 10919W405 | DRUG | Bright Minds Biosciences Inc | $39.1M | 2.53% | 501,617 | Common | SOLE |
| P8696W104 | SVA | Sinovac Biotech Ltd. | $38.2M | 2.47% | 5,903,000 | Common | SOLE |
| 374163103 | GERN | Geron Corp | $35.9M | 2.32% | 27,225,292 | Common | SOLE |
| 29479A108 | ERAS | Erasca Inc | $34.5M | 2.23% | 9,273,428 | Common | SOLE |
| 98937L105 | ZBIO | Zenas Biopharma Inc | $31.0M | 2.00% | 853,495 | Common | SOLE |
| 92790C104 | VRDN | Viridian Therapeutics Inc | $30.6M | 1.98% | 982,576 | Common | SOLE |
| 00461U105 | ACRS | Aclaris Therapeutics, Inc. | $26.8M | 1.73% | 8,888,888 | Common | SOLE |
| 13463J101 | CAMP | CAMP4 Therapeutics Inc | $26.0M | 1.68% | 4,246,568 | Common | SOLE |
| 87583X109 | TNGX | Tango Therapeutics Inc | $19.1M | 1.23% | 2,154,780 | Common | SOLE |
| 02157Q109 | ANRO | Alto Neuroscience Inc | $18.4M | 1.19% | 1,035,551 | Common | SOLE |
| 50180M108 | LBRX | LB Pharmaceuticals Inc | $17.8M | 1.15% | 800,000 | Common | SOLE |
| 603380205 | NERV | Minerva Neurosciences Inc | $17.4M | 1.12% | 4,322,747 | Common | SOLE |
| 68622P109 | ORIC | Oric Pharmaceuticals Inc | $17.3M | 1.12% | 2,118,384 | Common | SOLE |
| 221015100 | CRVS | Corvus Pharmaceuticals Holdings | $17.2M | 1.11% | 2,234,566 | Common | SOLE |
| 68062P106 | OLMA | Olema Pharmaceuticals Inc | $16.8M | 1.09% | 671,843 | Common | SOLE |
| 713317105 | PEPG | Pepgen Inc | $15.1M | 0.98% | 2,325,000 | Common | SOLE |
| 25056L103 | DSGN | Design Therapeutics Inc | $15.1M | 0.98% | 1,612,903 | Common | SOLE |
| 252828108 | DNTH | Dianthus Therapeutics Inc | $14.6M | 0.94% | 353,998 | Common | SOLE |
| 61559X104 | MLTX | Moonlake Immunotherapeutics | $13.2M | 0.85% | 1,000,000 | Common | SOLE |
| 23284F105 | CTMX | Cytomx Therapeutics Inc | $12.3M | 0.79% | 2,884,615 | Common | SOLE |
| 90466Y202 | UNCY | Unicycive Therapeutics | $10.3M | 0.67% | 1,789,916 | Common | SOLE |
| 29842P105 | EPRX | Eupraxia Pharmaceuticals Inc | $10.2M | 0.66% | 1,350,000 | Common | SOLE |
| 00289Y206 | ABEO | Abeona Therapeutics, Inc. | $9.7M | 0.63% | 1,842,751 | Common | SOLE |
| 92337C203 | VSTM | Verastem Inc | $8.5M | 0.55% | 1,106,524 | Common | SOLE |
| 82686Q101 | SLN | Silence Therapeutics PLC | $6.7M | 0.43% | 1,105,454 | Common | SOLE |
| 61023L207 | MNPR | Monopar Therapeutics Inc | $5.9M | 0.38% | 90,500 | Common | SOLE |
| 86889P208 | SRZN | Surrozen Inc | $5.9M | 0.38% | 260,000 | Common | SOLE |
| 696389402 | PALI | Palisade Bio Inc | $5.4M | 0.35% | 2,293,578 | Common | SOLE |
| 81749D107 | SERA | Sera Prognostics Inc | $4.9M | 0.31% | 1,650,440 | Common | SOLE |
| 45783C200 | TIL | Instil Bio Inc | $3.2M | 0.21% | 292,743 | Common | SOLE |
| 70261F202 | KTTA | Pasithea Therapeutics Corp | $2.7M | 0.18% | 2,100,000 | Common | SOLE |
| 88032L605 | TENX | Tenax Therapeutics Inc | $2.5M | 0.16% | 208,333 | Common | SOLE |
| 29286M113 | — | EnGene Holdings Inc | $843,736 | 0.05% | 285,046 | Common | SOLE |
| 097702203 | BOLT | Bolt Therapeutics Inc | $395,960 | 0.03% | 72,414 | Common | SOLE |
| 74019P207 | DTIL | Precision Biosciences Inc | $19,449 | 0.00% | 4,675 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.