Q3 2025 · 13F-HR
Caligan Partners LPholdings as filed
Filed 2025-11-14 · accession 0001420506-25-003441
$763.5M
Reported value
18
Positions
2025-09-30
Period end
The Brief · Caligan Partners LP · Q3 2025
AI · grounded in 13F
Caligan Partners LP established a new position in Liquidia Corporation LQDA valued at $184.6M. The fund also initiated stakes in Abivax SA ABVX for $123.3M and Mineralys Therapeutics Inc MLYS for $105.1M. Other new additions include Agios Pharmaceuticals Inc AGIO and Exelixis Inc EXEL. The fund ended the period with 17 positions and total AUM of $763.5M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 53635D202 | LQDA | LIQUIDIA CORPORATION | $184.6M | 24.2% | 8,118,892 | Common | SOLE |
| 00370M103 | ABVX | ABIVAX SA | $123.3M | 16.1% | 1,451,924 | Common | SOLE |
| 603170101 | MLYS | MINERALYS THERAPEUTICS INC | $105.1M | 13.8% | 2,772,654 | Common | SOLE |
| 30161Q104 | EXEL | EXELIXIS INC | $63.0M | 8.25% | 1,525,730 | Common | SOLE |
| 76155X100 | RVMD | REVOLUTION MEDICINES INC | $49.7M | 6.51% | 1,064,249 | Common | SOLE |
| 00847X104 | AGIO | AGIOS PHARMACEUTICALS INC | $45.4M | 5.95% | 1,131,205 | Common | SOLE |
| 00847X104 | AGIO | AGIOS PHARMACEUTICALS INC | $39.1M | 5.13% | 975,000 | PUT | SOLE |
| 000899104 | ADMA | ADMA BIOLOGICS INC | $38.7M | 5.06% | 2,636,609 | Common | SOLE |
| 30052C107 | EOLS | EVOLUS INC | $25.4M | 3.33% | 4,138,943 | Common | SOLE |
| N5749R100 | 2GH | MERUS N V | $20.4M | 2.68% | 216,954 | Common | SOLE |
| 98420N105 | XENE | XENON PHARMACEUTICALS INC | $17.8M | 2.34% | 444,565 | Common | SOLE |
| 035255108 | ANIK | ANIKA THERAPEUTICS INC | $13.5M | 1.77% | 1,435,130 | Common | SOLE |
| 05338F306 | AVTX | AVALO THERAPEUTICS INC | $10.6M | 1.39% | 833,333 | Common | SOLE |
| 90240B106 | TYRA | TYRA BIOSCIENCES INC | $9.7M | 1.28% | 696,825 | Common | SOLE |
| 45720N103 | INBX | INHIBRX BIOSCIENCES INC | $8.0M | 1.04% | 236,383 | Common | SOLE |
| 92511W207 | VRCA | VERRICA PHARMACEUTICALS INC | $4.0M | 0.52% | 923,910 | Common | SOLE |
| 81642T209 | SLS | SELLAS LIFE SCIENCES GROUP I | $3.7M | 0.48% | 2,300,000 | CALL | SOLE |
| 05153U107 | AURA | AURA BIOSCIENCES INC | $1.4M | 0.18% | 227,174 | 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.