Q4 2025 · 13F-HR
Velan Capital Investment Management LPholdings as filed
Filed 2026-02-13 · accession 0001848809-26-000001
$172.4M
Reported value
46
Positions
2025-12-31
Period end
The Brief · Velan Capital Investment Management LP · Q4 2025
AI · grounded in 13F
Velan Capital Investment Management LP initiated a new position in MPLT with an investment of $9.17M. The fund also established new stakes in EVOMMUNE INC for $8.68M and ESPR for $4.48M. On the selling side, the fund closed its position in ZOOZ PWR LTD, resulting in a $4.28M reduction. Additionally, it exited positions in ALMS and SUTRO BIOPHARMA INC.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 74006W207 | PRAX | PRAXIS PRECISION MEDICINES I | $29.7M | 17.2% | 100,781 | Common | SOLE |
| 171757206 | CDTX | CIDARA THERAPEUTICS INC | $23.9M | 13.9% | 108,404 | Common | SOLE |
| 74365U107 | TARA | PROTARA THERAPEUTICS INC | $15.1M | 8.76% | 2,834,652 | Common | SOLE |
| 427746102 | HRTX | HERON THERAPEUTICS INC | $11.4M | 6.60% | 8,753,290 | Common | SOLE |
| 56565P103 | MPLT | MAPLIGHT THERAPEUTICS INC | $9.2M | 5.32% | 522,305 | Common | SOLE |
| 00370M103 | ABVX | ABIVAX SA | $9.0M | 5.24% | 67,000 | Common | SOLE |
| 30054Y107 | EVMN | EVOMMUNE INC | $8.7M | 5.03% | 506,754 | Common | SHARED |
| 603170101 | MLYS | MINERALYS THERAPEUTICS INC | $5.5M | 3.18% | 151,000 | Common | SOLE |
| 516544103 | LNTH | LANTHEUS HLDGS INC | $5.0M | 2.88% | 74,687 | Common | SOLE |
| 471871202 | JSPR | JASPER THERAPEUTICS INC | $4.9M | 2.83% | 2,668,395 | Common | SOLE |
| 05338F306 | AVTX | AVALO THERAPEUTICS INC | $4.8M | 2.78% | 263,642 | Common | SOLE |
| 29664W105 | ESPR | ESPERION THERAPEUTICS INC NE | $4.5M | 2.60% | 1,210,000 | Common | SOLE |
| 92511W207 | VRCA | VERRICA PHARMACEUTICALS INC | $3.9M | 2.27% | 471,559 | Common | SOLE |
| 45779A846 | NSPR | INSPIREMD INC | $3.8M | 2.21% | 2,143,698 | Common | SOLE |
| 75382E208 | RAPT | RAPT THERAPEUTICS INC | $3.7M | 2.12% | 108,000 | Common | SOLE |
| 869367201 | STRO | SUTRO BIOPHARMA INC | $3.6M | 2.09% | 312,000 | Common | SOLE |
| 880881107 | 430 | TERNS PHARMACEUTICALS INC | $2.8M | 1.64% | 70,000 | Common | SOLE |
| 87164F105 | SNDX | SYNDAX PHARMACEUTICALS INC | $2.7M | 1.58% | 130,000 | Common | SOLE |
| 92790C104 | VRDN | VIRIDIAN THERAPEUTICS INC | $2.7M | 1.56% | 86,500 | Common | SOLE |
| 29842P105 | EPRX | EUPRAXIA PHARMACEUTICALS INC | $2.7M | 1.54% | 352,000 | Common | SOLE |
| 89532M101 | TRVI | TREVI THERAPEUTICS INC | $2.6M | 1.49% | 205,000 | Common | SOLE |
| 74319B502 | PROF | PROFOUND MED CORP | $2.2M | 1.30% | 285,710 | Common | SOLE |
| 48669G303 | KZIA | KAZIA THERAPEUTICS LTD | $2.1M | 1.20% | 300,000 | Common | SOLE |
| 76200L309 | RZLT | REZOLUTE INC | $1.8M | 1.03% | 750,000 | Common | SOLE |
| 88032L605 | TENX | TENAX THERAPEUTICS INC | $1.0M | 0.59% | 83,333 | Common | SOLE |
| 27966L306 | EDSA | EDESA BIOTECH INC | $976,250 | 0.57% | 687,500 | Common | SOLE |
| 89532M901 | — | TREVI THERAPEUTICS INC | $482,020 | 0.28% | 38,500 | CALL | SOLE |
| 04280A100 | ARWR | ARROWHEAD PHARMACEUTICALS IN | $431,535 | 0.25% | 6,500 | Common | SOLE |
| 92332V107 | VTYXUSD | VENTYX BIOSCIENCES INC | $361,200 | 0.21% | 40,000 | Common | SOLE |
| 23284F105 | CTMX | CYTOMX THERAPEUTICS INC | $340,800 | 0.20% | 80,000 | Common | SOLE |
| 74366E102 | PTGX | PROTAGONIST THERAPEUTICS INC | $323,158 | 0.19% | 3,700 | Common | SOLE |
| 67080M103 | NRIX | NURIX THERAPEUTICS INC | $303,520 | 0.18% | 16,000 | Common | SOLE |
| 690469101 | OVID | OVID THERAPEUTICS INC | $260,800 | 0.15% | 160,000 | Common | SOLE |
| 38341P102 | GOSS | GOSSAMER BIO INC | $217,000 | 0.13% | 70,000 | Common | SOLE |
| 45257U108 | IMNM | IMMUNOME INC | $214,800 | 0.12% | 10,000 | Common | SOLE |
| 25056L103 | DSGN | DESIGN THERAPEUTICS INC | $187,600 | 0.11% | 20,000 | Common | SOLE |
| 45258H106 | IMMX | IMMIX BIOPHARMA INC | $183,050 | 0.11% | 35,000 | Common | SOLE |
| 21077P108 | CNTX | CONTEXT THERAPEUTICS INC | $147,000 | 0.09% | 100,000 | Common | SOLE |
| 76029N106 | REPL | REPLIMUNE GROUP INC | $145,800 | 0.08% | 15,000 | Common | SOLE |
| 517125100 | LRMR | LARIMAR THERAPEUTICS INC | $125,730 | 0.07% | 33,000 | Common | SOLE |
| 98422T100 | — | XILIO THERAPEUTICS INC | $108,834 | 0.06% | 170,000 | Common | SOLE |
| 21833P301 | CRBP | CORBUS PHARMACEUTICALS HLDGS | $105,820 | 0.06% | 13,000 | Common | SOLE |
| N71542109 | PRQR | PROQR THRAPEUTICS N V | $90,900 | 0.05% | 45,000 | Common | SOLE |
| 74019P207 | DTIL | PRECISION BIOSCIENCES INC | $83,200 | 0.05% | 20,000 | Common | SOLE |
| 747324101 | PYXS | PYXIS ONCOLOGY INC | $46,000 | 0.03% | 40,000 | Common | SOLE |
| 69353Y103 | PMVP | PMV PHARMACEUTICALS INC | $43,750 | 0.03% | 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.