Q2 2025 · 13F-HR
Velan Capital Investment Management LPholdings as filed
Filed 2025-08-14 · accession 0001848809-25-000005
$101.2M
Reported value
50
Positions
2025-06-30
Period end
The Brief · Velan Capital Investment Management LP · Q2 2025
AI · grounded in 13F
Velan Capital Investment Management LP established a new position in HRTX valued at $14.46M. The fund also initiated new stakes in VRNA for $8.99M and JSPR for $7.96M. Additional new positions include TARA, ZVRA, and TRML. The fund ended the period with 50 positions and total AUM of $101.24M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 427746102 | HRTX | HERONTHERAPEUTICSINC | $14.5M | 14.3% | 6,986,744 | Common | SOLE |
| 925050106 | VRNA | VERONAPHARMAPLC | $9.0M | 8.88% | 95,000 | Common | SOLE |
| 471871202 | JSPR | JASPERTHERAPEUTICSINC | $8.0M | 7.86% | 1,433,828 | Common | SOLE |
| 74365U107 | TARA | PROTARATHERAPEUTICSINC | $6.5M | 6.40% | 2,139,000 | Common | SOLE |
| 488445206 | ZVRA | ZEVRATHERAPEUTICSINC | $6.3M | 6.22% | 715,000 | Common | SOLE |
| 89157D105 | TRML | TOURMALINEBIOINC | $6.3M | 6.22% | 393,889 | Common | SOLE |
| 74006W207 | PRAX | PRAXISPRECISIONMEDICINESI | $6.3M | 6.20% | 149,334 | Common | SOLE |
| 171757206 | CDTX | CIDARATHERAPEUTICSINC | $4.9M | 4.81% | 100,000 | Common | SOLE |
| 022307102 | ALMS | ALUMISINC | $4.9M | 4.80% | 1,620,846 | Common | SOLE |
| 04335A105 | ARVN | ARVINASINC | $3.7M | 3.64% | 500,000 | Common | SOLE |
| 810648105 | SCPH | SCPHARMACEUTICALSINC | $3.5M | 3.45% | 917,668 | Common | SOLE |
| 76200L309 | RZLT | REZOLUTEINC | $3.3M | 3.30% | 750,000 | Common | SOLE |
| 53635D202 | LQDA | LIQUIDIACORPORATION | $3.0M | 2.94% | 239,260 | Common | SOLE |
| 603170101 | MLYS | MINERALYSTHERAPEUTICSINC | $2.4M | 2.33% | 174,600 | Common | SOLE |
| 869367102 | — | SUTROBIOPHARMAINC | $2.2M | 2.16% | 3,060,000 | Common | SOLE |
| 45779A846 | NSPR | INSPIREMDINC | $2.1M | 2.03% | 904,029 | Common | SOLE |
| 46489V302 | CATX | PERSPECTIVETHERAPEUTICSINC | $1.7M | 1.70% | 500,000 | Common | SOLE |
| 76029N106 | REPL | REPLIMUNEGROUPINC | $1.7M | 1.68% | 183,083 | Common | SOLE |
| 872381108 | TELA | TELABIOINC | $1.4M | 1.43% | 747,410 | Common | SOLE |
| 27966L306 | EDSA | EDESABIOTECHINC | $1.4M | 1.38% | 687,500 | Common | SOLE |
| 640268906 | — | NEKTARTHERAPEUTICS | $1.3M | 1.28% | 50,000 | CALL | SOLE |
| 92790C104 | VRDN | VIRIDIANTHERAPEUTICSINC | $1.2M | 1.19% | 86,500 | Common | SOLE |
| 91678A107 | UPB | UPSTREAMBIOINC | $1.2M | 1.16% | 107,000 | Common | SOLE |
| 28617K101 | ELDN | ELEDONPHARMACEUTICALSINC | $918,617 | 0.91% | 338,973 | Common | SOLE |
| 05338F306 | AVTX | AVALOTHERAPEUTICSINC | $773,310 | 0.76% | 154,972 | Common | SOLE |
| 88032L605 | TENX | TENAXTHERAPEUTICSINC | $479,998 | 0.47% | 83,333 | Common | SOLE |
| 21833P301 | CRBP | CORBUSPHARMACEUTICALSHLDGS | $407,100 | 0.40% | 59,000 | Common | SOLE |
| 49721T507 | KPRX | KIORAPHARMACEUTICALSINC | $352,002 | 0.35% | 122,223 | Common | SOLE |
| 74366E102 | PTGX | PROTAGONISTTHERAPEUTICSINC | $204,499 | 0.20% | 3,700 | Common | SOLE |
| 23284F105 | CTMX | CYTOMXTHERAPEUTICSINC | $170,250 | 0.17% | 75,000 | Common | SOLE |
| 67080M103 | NRIX | NURIXTHERAPEUTICSINC | $113,900 | 0.11% | 10,000 | Common | SOLE |
| 374163103 | GERN | GERONCORP | $98,700 | 0.10% | 70,000 | Common | SOLE |
| Y95308105 | WVE | WAVELIFESCIENCESLTD | $97,500 | 0.10% | 15,000 | Common | SOLE |
| 517125100 | LRMR | LARIMARTHERAPEUTICSINC | $95,370 | 0.09% | 33,000 | Common | SOLE |
| 38341P102 | GOSS | GOSSAMERBIOINC | $92,250 | 0.09% | 75,000 | Common | SOLE |
| N71542109 | PRQR | PROQRTHRAPEUTICSNV | $91,800 | 0.09% | 45,000 | Common | SOLE |
| 92332V107 | VTYXUSD | VENTYXBIOSCIENCESINC | $85,600 | 0.08% | 40,000 | Common | SOLE |
| 29479A108 | ERAS | ERASCAINC | $82,550 | 0.08% | 65,000 | Common | SOLE |
| 014442107 | ALEC | ALECTORINC | $77,000 | 0.08% | 55,000 | Common | SOLE |
| 880881107 | 430 | TERNSPHARMACEUTICALSINC | $74,600 | 0.07% | 20,000 | Common | SOLE |
| 25056L103 | DSGN | DESIGNTHERAPEUTICSINC | $67,400 | 0.07% | 20,000 | Common | SOLE |
| 21077P108 | CNTX | CONTEXTTHERAPEUTICSINC | $65,520 | 0.06% | 100,000 | Common | SOLE |
| 690469101 | OVID | OVIDTHERAPEUTICSINC | $52,784 | 0.05% | 160,000 | Common | SOLE |
| 45258H106 | IMMX | IMMIXBIOPHARMAINC | $51,750 | 0.05% | 25,000 | Common | SOLE |
| 92941V308 | VYNE | VYNETHERAPEUTICSINC | $49,500 | 0.05% | 30,000 | Common | SOLE |
| 00461U105 | ACRS | ACLARISTHERAPEUTICSINC | $46,434 | 0.05% | 32,700 | Common | SOLE |
| 35104E100 | FDMT | 4DMOLECULARTHERAPEUTICSIN | $44,520 | 0.04% | 12,000 | Common | SOLE |
| 747324101 | PYXS | PYXISONCOLOGYINC | $44,000 | 0.04% | 40,000 | Common | SOLE |
| 69353Y103 | PMVP | PMVPHARMACEUTICALSINC | $37,100 | 0.04% | 35,000 | Common | SOLE |
| 65343E108 | NXTCEUR | NEXTCUREINC | $20,700 | 0.02% | 45,000 | 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.