Q3 2025 · 13F-HR
Velan Capital Investment Management LPholdings as filed
Filed 2025-11-14 · accession 0001848809-25-000008
$106.5M
Reported value
49
Positions
2025-09-30
Period end
The Brief · Velan Capital Investment Management LP · Q3 2025
AI · grounded in 13F
Velan Capital Investment Management LP closed its position in VRNA for a reduction of $8.99M. The fund established new positions in ABVX for $5.47M, ZOOZ PWR LTD for $4.28M, and LNTH for $3.77M. Additionally, the fund exited positions in ZVRA, ARVN, and SCPH.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 427746102 | HRTX | HERON THERAPEUTICS INC | $11.0M | 10.4% | 8,753,290 | Common | SOLE |
| 171757206 | CDTX | CIDARA THERAPEUTICS INC | $10.4M | 9.75% | 108,404 | Common | SOLE |
| 74365U107 | TARA | PROTARA THERAPEUTICS INC | $9.3M | 8.74% | 2,139,000 | Common | SOLE |
| 76200L309 | RZLT | REZOLUTE INC | $7.0M | 6.62% | 750,000 | Common | SOLE |
| 74006W207 | PRAX | PRAXIS PRECISION MEDICINES I | $7.0M | 6.61% | 132,805 | Common | SOLE |
| 603170101 | MLYS | MINERALYS THERAPEUTICS INC | $6.7M | 6.25% | 175,600 | Common | SOLE |
| 471871202 | JSPR | JASPER THERAPEUTICS INC | $6.2M | 5.83% | 2,668,395 | Common | SOLE |
| 00370M103 | ABVX | ABIVAX SA | $5.5M | 5.13% | 64,389 | Common | SOLE |
| 45779A846 | NSPR | INSPIREMD INC | $5.2M | 4.85% | 2,143,698 | Common | SOLE |
| M2573A106 | ZOOZ | ZOOZ PWR LTD | $4.3M | 4.02% | 2,000,000 | Common | SOLE |
| 022307102 | ALMS | ALUMIS INC | $3.8M | 3.55% | 946,683 | Common | SOLE |
| 516544103 | LNTH | LANTHEUS HLDGS INC | $3.8M | 3.54% | 73,545 | Common | SOLE |
| 05338F306 | AVTX | AVALO THERAPEUTICS INC | $3.4M | 3.15% | 263,642 | Common | SOLE |
| 869367102 | — | SUTRO BIOPHARMA INC | $2.7M | 2.54% | 3,120,000 | Common | SOLE |
| 29842P105 | EPRX | EUPRAXIA PHARMACEUTICALS INC | $2.1M | 1.95% | 352,000 | Common | SOLE |
| 75382E208 | RAPT | RAPT THERAPEUTICS INC | $2.1M | 1.94% | 79,977 | Common | SOLE |
| 87164F105 | SNDX | SYNDAX PHARMACEUTICALS INC | $2.0M | 1.88% | 130,000 | Common | SOLE |
| 89532M101 | TRVI | TREVI THERAPEUTICS INC | $1.9M | 1.76% | 205,000 | Common | SOLE |
| N90064101 | QURE | UNIQURE NV | $1.9M | 1.75% | 32,000 | Common | SOLE |
| 92790C104 | VRDN | VIRIDIAN THERAPEUTICS INC | $1.9M | 1.75% | 86,500 | Common | SOLE |
| 27966L306 | EDSA | EDESA BIOTECH INC | $1.7M | 1.60% | 687,500 | Common | SOLE |
| 872381108 | TELA | TELA BIO INC | $1.1M | 1.05% | 747,410 | Common | SOLE |
| 28617K101 | ELDN | ELEDON PHARMACEUTICALS INC | $898,660 | 0.84% | 346,973 | Common | SOLE |
| 21833P301 | CRBP | CORBUS PHARMACEUTICALS HLDGS | $771,650 | 0.72% | 61,000 | Common | SOLE |
| 88032L605 | TENX | TENAX THERAPEUTICS INC | $634,164 | 0.60% | 83,333 | Common | SOLE |
| 89157D105 | TRML | TOURMALINE BIO INC | $277,414 | 0.26% | 5,800 | Common | SOLE |
| 23284F105 | CTMX | CYTOMX THERAPEUTICS INC | $255,200 | 0.24% | 80,000 | Common | SOLE |
| 74366E102 | PTGX | PROTAGONIST THERAPEUTICS INC | $245,791 | 0.23% | 3,700 | Common | SOLE |
| 04280A100 | ARWR | ARROWHEAD PHARMACEUTICALS IN | $224,185 | 0.21% | 6,500 | Common | SOLE |
| 690469101 | OVID | OVID THERAPEUTICS INC | $208,000 | 0.20% | 160,000 | Common | SOLE |
| 38341P102 | GOSS | GOSSAMER BIO INC | $184,100 | 0.17% | 70,000 | Common | SOLE |
| 014442107 | ALEC | ALECTOR INC | $162,800 | 0.15% | 55,000 | Common | SOLE |
| 25056L103 | DSGN | DESIGN THERAPEUTICS INC | $150,600 | 0.14% | 20,000 | Common | SOLE |
| 880881107 | 430 | TERNS PHARMACEUTICALS INC | $150,200 | 0.14% | 20,000 | Common | SOLE |
| 67080M103 | NRIX | NURIX THERAPEUTICS INC | $147,840 | 0.14% | 16,000 | Common | SOLE |
| 29479A108 | ERAS | ERASCA INC | $141,700 | 0.13% | 65,000 | Common | SOLE |
| 92332V107 | VTYXUSD | VENTYX BIOSCIENCES INC | $124,400 | 0.12% | 40,000 | Common | SOLE |
| 747324101 | PYXS | PYXIS ONCOLOGY INC | $122,100 | 0.11% | 55,000 | Common | SOLE |
| 45257U108 | IMNM | IMMUNOME INC | $117,100 | 0.11% | 10,000 | Common | SOLE |
| 74019P207 | DTIL | PRECISION BIOSCIENCES INC | $110,400 | 0.10% | 20,000 | Common | SOLE |
| Y95308105 | WVE | WAVE LIFE SCIENCES LTD | $109,800 | 0.10% | 15,000 | Common | SOLE |
| 374163103 | GERN | GERON CORP | $109,600 | 0.10% | 80,000 | Common | SOLE |
| 517125100 | LRMR | LARIMAR THERAPEUTICS INC | $106,590 | 0.10% | 33,000 | Common | SOLE |
| 21077P108 | CNTX | CONTEXT THERAPEUTICS INC | $96,880 | 0.09% | 100,000 | Common | SOLE |
| N71542109 | PRQR | PROQR THRAPEUTICS N V | $95,850 | 0.09% | 45,000 | Common | SOLE |
| 76029N106 | REPL | REPLIMUNE GROUP INC | $83,800 | 0.08% | 20,000 | Common | SOLE |
| 45258H106 | IMMX | IMMIX BIOPHARMA INC | $73,150 | 0.07% | 35,000 | Common | SOLE |
| 00461U105 | ACRS | ACLARIS THERAPEUTICS INC | $62,130 | 0.06% | 32,700 | Common | SOLE |
| 69353Y103 | PMVP | PMV PHARMACEUTICALS INC | $49,000 | 0.05% | 35,000 | 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.