Q1 2026 · 13F-HR
Stonepine Capital Management, LLCholdings as filed
Filed 2026-05-14 · accession 0001440771-26-000002
$249.7M
Reported value
83
Positions
2026-03-31
Period end
The Brief · Stonepine Capital Management, LLC · Q1 2026
AI · grounded in 13F
Stonepine Capital Management, LLC established a new position in XBI valued at $102.18M. The fund also opened new stakes in 430 for $5.27M and ESTA for $3.18M. On the selling side, the fund closed its positions in INDV for $3.59M, CRSP for $2.62M, and RARE for $2.3M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 78464A870 | XBI | SPDR SERIES TRUST | $51.1M | 20.5% | 400,000 | CALL | SOLE |
| 78464A870 | XBI | SPDR SERIES TRUST | $51.1M | 20.5% | 400,000 | PUT | SOLE |
| 92337C203 | VSTM | VERASTEM INC | $17.5M | 7.01% | 3,302,300 | Common | SOLE |
| 88032L605 | TENX | TENAX THERAPEUTICS INC | $15.6M | 6.24% | 975,200 | Common | SOLE |
| 000899104 | ADMA | ADMA BIOLOGICS INC | $10.4M | 4.15% | 1,150,000 | CALL | SOLE |
| 30052C107 | EOLS | EVOLUS INC | $7.2M | 2.90% | 1,759,091 | Common | SOLE |
| 000899104 | ADMA | ADMA BIOLOGICS INC | $6.7M | 2.67% | 740,000 | Common | SOLE |
| 13463J101 | CAMP | CAMP4 THERAPEUTICS CORP | $6.1M | 2.45% | 1,389,622 | Common | SOLE |
| 640268306 | NKTR | NEKTAR THERAPEUTICS | $6.1M | 2.45% | 85,000 | Common | SOLE |
| 880881107 | 430 | TERNS PHARMACEUTICALS INC | $5.3M | 2.11% | 100,000 | CALL | SOLE |
| 488445206 | ZVRA | ZEVRA THERAPEUTICS INC | $4.5M | 1.79% | 480,000 | Common | SOLE |
| 21833P301 | CRBP | CORBUS PHARMACEUTICALS HLDGS | $3.6M | 1.44% | 383,462 | Common | SOLE |
| 00289Y206 | ABEO | ABEONA THERAPEUTICS INC | $3.3M | 1.34% | 746,587 | Common | SOLE |
| G31249108 | ESTA | ESTABLISHMENT LABS HLDGS INC | $2.8M | 1.14% | 50,000 | CALL | SOLE |
| 48669G303 | KZIA | KAZIA THERAPEUTICS LTD | $2.6M | 1.03% | 345,179 | Common | SOLE |
| 037326105 | ANTX | AN2 THERAPEUTICS INC | $2.4M | 0.98% | 713,845 | Common | SOLE |
| 015271109 | ARE | ALEXANDRIA REAL ESTATE EQ IN | $2.3M | 0.93% | 50,000 | CALL | SOLE |
| 004225108 | ACAD | ACADIA PHARMACEUTICALS INC | $2.2M | 0.89% | 100,000 | CALL | SOLE |
| M8694L137 | SLGL | SOL-GEL TECHNOLOGIES LTD | $2.2M | 0.88% | 27,778 | Common | SOLE |
| 98419J206 | XOMA | XOMA ROYALTY CORPORATION | $2.2M | 0.87% | 69,500 | Common | SOLE |
| 054754858 | AYTU | AYTU BIOPHARMA INC | $2.2M | 0.87% | 792,289 | Common | SOLE |
| 231269309 | CRIS | CURIS INC | $2.0M | 0.82% | 3,726,406 | Common | SOLE |
| 30052C107 | EOLS | EVOLUS INC | $1.7M | 0.69% | 420,000 | CALL | SOLE |
| 98422E103 | XERS | XERIS BIOPHARMA HOLDINGS INC | $1.6M | 0.65% | 280,000 | CALL | SOLE |
| 872381108 | TELA | TELA BIO INC | $1.6M | 0.65% | 2,617,252 | Common | SOLE |
| 45719W205 | IKT | INHIBIKASE THERAPEUTICS INC | $1.6M | 0.64% | 957,202 | Common | SOLE |
| G2545C104 | CBIO | CRESCENT BIOPHARMA INC. | $1.6M | 0.63% | 85,000 | Common | SOLE |
| 007002207 | ACET | ADICET BIO INC | $1.5M | 0.61% | 221,955 | Common | SOLE |
| 98420X202 | XFOR | X4 PHARMACEUTICALS INC | $1.4M | 0.55% | 335,309 | Common | SOLE |
| G6724L116 | OKYO | OKYO PHARMA LTD | $1.4M | 0.55% | 850,000 | Common | SOLE |
| 825704109 | SIBN | SI BONE INC | $1.3M | 0.51% | 100,000 | CALL | SOLE |
| 56400P706 | MNKD | MANNKIND CORP | $1.2M | 0.49% | 500,000 | CALL | SOLE |
| 427746102 | HRTX | HERON THERAPEUTICS INC | $1.1M | 0.45% | 1,402,191 | Common | SOLE |
| 745848101 | LUNG | PULMONX CORP | $991,092 | 0.40% | 768,288 | Common | SOLE |
| 45674E208 | INAB | IN8BIO INC | $981,850 | 0.39% | 663,412 | Common | SOLE |
| 640979100 | NMRA | NEUMORA THERAPEUTICS INC. | $975,000 | 0.39% | 500,000 | CALL | SOLE |
| 86889P208 | SRZN | SURROZEN INC | $961,436 | 0.39% | 33,005 | Common | SOLE |
| 23284F105 | CTMX | CYTOMX THERAPEUTICS INC. | $940,000 | 0.38% | 200,000 | Common | SOLE |
| 23284F105 | CTMX | CYTOMX THERAPEUTICS INC. | $940,000 | 0.38% | 200,000 | CALL | SOLE |
| 24661P807 | DCTH | DELCATH SYS INC | $928,000 | 0.37% | 100,000 | CALL | SOLE |
| 039697107 | ARDX | ARDELYX INC | $898,500 | 0.36% | 150,000 | CALL | SOLE |
| 69353Y103 | PMVP | PMV PHARMACEUTICALS INC | $878,046 | 0.35% | 708,102 | Common | SOLE |
| 09077V100 | BIOA | BIOAGE LABS INC | $874,500 | 0.35% | 50,000 | Common | SOLE |
| G23549101 | CNTB | CONNECT BIOPHARMA HLDGS LTD | $812,200 | 0.33% | 310,000 | Common | SOLE |
| 427746102 | HRTX | HERON THERAPEUTICS INC | $800,100 | 0.32% | 1,000,000 | CALL | SOLE |
| 75041J101 | RADX | RADIOPHARM THERANOSTICS LTD | $738,977 | 0.30% | 51,000,000 | Common | SOLE |
| 57777K106 | MXCT | MAXCYTE INC | $705,783 | 0.28% | 1,004,673 | Common | SOLE |
| 192005106 | CDXS | CODEXIS INC | $681,330 | 0.27% | 417,994 | Common | SOLE |
| 10170A100 | BOLD | BOUNDLESS BIO INC | $657,450 | 0.26% | 597,682 | Common | SOLE |
| 23256X407 | HELP | CYBIN INC | $643,488 | 0.26% | 134,060 | Common | SOLE |
| 98943L107 | ZNTL | ZENTALIS PHARMACEUTICALS INC | $629,694 | 0.25% | 269,100 | Common | SOLE |
| 70261F202 | KTTA | PASITHEA THERAPEUTICS CORP | $616,659 | 0.25% | 831,301 | Common | SOLE |
| 80401L803 | MSLE | SATELLOS BIOSCIENCE INC | $563,000 | 0.23% | 100,000 | Common | SOLE |
| 71722W107 | PHAT | PHATHOM PHARMACEUTICALS INC | $555,611 | 0.22% | 50,010 | Common | SOLE |
| 68277Q105 | OKUR | ONKURE THERAPEUTICS INC | $548,873 | 0.22% | 132,578 | Common | SOLE |
| 98422T209 | XLO | XILIO THERAPEUTICS INC | $539,602 | 0.22% | 64,162 | Common | SOLE |
| 92511W207 | VRCA | VERRICA PHARMACEUTICALS INC | $527,598 | 0.21% | 99,735 | Common | SOLE |
| 137404109 | CADL | CANDEL THERAPEUTICS INC | $502,250 | 0.20% | 102,500 | Common | SOLE |
| 00289Y206 | ABEO | ABEONA THERAPEUTICS INC | $448,000 | 0.18% | 100,000 | CALL | SOLE |
| 740294400 | POCI | PRECISION OPTICS CORP INC MA | $439,000 | 0.18% | 100,000 | Common | SOLE |
| 74907L409 | QNRX | QUOIN PHARMACEUTICALS LTD | $352,836 | 0.14% | 53,460 | Common | SOLE |
| G31249108 | ESTA | ESTABLISHMENT LABS HLDGS INC | $340,680 | 0.14% | 6,000 | Common | SOLE |
| 91678A107 | UPB | UPSTREAM BIO INC | $315,000 | 0.13% | 35,000 | Common | SOLE |
| 67577R102 | IRD | OPUS GENETICS INC | $312,530 | 0.13% | 68,688 | Common | SOLE |
| 04335A105 | ARVN | ARVINAS INC | $291,500 | 0.12% | 27,500 | Common | SOLE |
| 729139105 | PLRX | PLIANT THERAPEUTICS INC | $283,059 | 0.11% | 224,650 | Common | SOLE |
| 47103J105 | JANX | JANUX THERAPEUTICS INC | $278,000 | 0.11% | 20,000 | Common | SOLE |
| 68218J103 | OABI | OMNIAB INC | $257,551 | 0.10% | 164,045 | Common | SOLE |
| 98422E103 | XERS | XERIS BIOPHARMA HOLDINGS INC | $232,174 | 0.09% | 40,030 | Common | SOLE |
| M25722105 | CGEN | COMPUGEN LTD | $222,159 | 0.09% | 104,300 | Common | SOLE |
| 640979100 | NMRA | NEUMORA THERAPEUTICS INC. | $195,000 | 0.08% | 100,000 | Common | SOLE |
| 78397T202 | SABS | SAB BIOTHERAPEUTICS INC | $191,500 | 0.08% | 50,000 | Common | SOLE |
| 825704109 | SIBN | SI BONE INC | $188,995 | 0.08% | 14,964 | Common | SOLE |
| 27966L306 | EDSA | EDESA BIOTECH INC | $156,900 | 0.06% | 30,000 | Common | SOLE |
| 18978H508 | CNSP | CNS PHARMACEUTICALS INC | $145,790 | 0.06% | 61,000 | Common | SOLE |
| 74275C403 | PCSA | PROCESSA PHARMACEUTICALS INC | $138,875 | 0.06% | 55,000 | Common | SOLE |
| 12674W109 | CABA | CABALETTA BIO INC | $134,500 | 0.05% | 50,000 | Common | SOLE |
| 482929106 | KLRS | KALARIS THERAPEUTICS INC | $117,708 | 0.05% | 20,400 | Common | SOLE |
| 28617K101 | ELDN | ELEDON PHARMACEUTICALS INC | $107,800 | 0.04% | 35,000 | Common | SOLE |
| 690469101 | OVID | OVID THERAPEUTICS INC | $88,800 | 0.04% | 40,000 | Common | SOLE |
| 29970R303 | EVAX | EVAXION AS | $73,332 | 0.03% | 19,713 | Common | SOLE |
| 56400P706 | MNKD | MANNKIND CORP | $39,935 | 0.02% | 16,300 | Common | SOLE |
| 09077B104 | BCABGBP | BIOATLA INC | $10,527 | 0.00% | 65,387 | 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.