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| # | Issuer | Value | Shares | % Portfolio |
|---|---|---|---|---|
| 1 | APOGEE THERAPEUTICS INC | $31.5M | 374000 | 7.23% |
| 2 | VOR BIOPHARMA INC | $31.2M | 1750000 | 7.18% |
| 3 | ZURA BIO LTD | $25.1M | 4215930 | 5.77% |
| 4 | AMYLYX PHARMACEUTICALS INC | $24.3M | 1750000 | 5.59% |
| 5 | IMMUNITYBIO INCPUT | $23.0M | 3000800 | 5.29% |
| 6 | NEKTAR THERAPEUTICS | $22.8M | 316453 | 5.23% |
| 7 | SOL-GEL TECHNOLOGIES LTD | $21.7M | 274363 | 5.00% |
| 8 | ALUMIS INC | $18.9M | 856061 | 4.33% |
| 9 | BRIGHT MINDS BIOSCIENCES INC | $16.1M | 220000 | 3.69% |
| 10 | ANNEXON INC | $13.8M | 2500000 | 3.18% |
| 11 | KALVISTA PHARMACEUTICALS INC | $13.6M | 675000 | 3.12% |
| 12 | IMMUNOVANT INC | $13.6M | 545625 | 3.11% |
| 13 | JADE BIOSCIENCES INC | $13.6M | 964462 | 3.11% |
| 14 | CONTINEUM THERAPEUTICS INC | $10.5M | 800198 | 2.40% |
| 15 | ZENAS BIOPHARMA INC | $10.2M | 524066 | 2.35% |
| 16 | NEUROGENE INC | $10.1M | 500000 | 2.32% |
| 17 | MOONLAKE IMMUNOTHERAPEUTICS | $9.3M | 500000 | 2.14% |
| 18 | CLIMB BIO INC | $9.1M | 1334130 | 2.10% |
| 19 | ORUKA THERAPEUTICS INC | $9.0M | 183330 | 2.07% |
| 20 | EUPRAXIA PHARMACEUTICALS INC | $8.7M | 1200000 | 2.00% |
| 21 | VERA THERAPEUTICS INC | $8.0M | 199348 | 1.84% |
| 22 | EVOMMUNE INC | $7.5M | 325000 | 1.72% |
| 23 | LB PHARMACEUTICALS INC | $7.4M | 300000 | 1.70% |
| 24 | COMPASS THERAPEUTICS INC | $7.1M | 1350000 | 1.64% |
| 25 | SCYNEXIS INC | $6.9M | 7554347 | 1.59% |
| 26 | PALISADE BIO INC | $6.0M | 3405757 | 1.37% |
| 27 | CONTEXT THERAPEUTICS INC | $5.9M | 2238496 | 1.35% |
| 28 | RELMADA THERAPEUTICS INC | $5.9M | 842106 | 1.35% |
| 29 | SILENCE THERAPEUTICS PLC | $5.4M | 1020489 | 1.24% |
| 30 | UNICYCIVE THERAPEUTICS INC | $5.2M | 796558 | 1.20% |
| 31 | TENAX THERAPEUTICS INC | $5.2M | 327307 | 1.20% |
| 32 | PROMIS NEUROSCIENCES INC | $4.7M | 371402 | 1.08% |
| 33 | CULLINAN THERAPEUTICS INC | $4.3M | 300000 | 0.98% |
| 34 | IMMIX BIOPHARMA INC | $3.2M | 350000 | 0.73% |
| 35 | REZOLUTE INC | $2.9M | 951809 | 0.67% |
| 36 | PHARVARIS N V | $2.3M | 82800 | 0.54% |
| 37 | HUMACYTE INC | $2.3M | 3750000 | 0.52% |
| 38 | GALECTIN THERAPEUTICS INCCALL | $2.2M | 800000 | 0.51% |
| 39 | AVALO THERAPEUTICS INC | $1.9M | 124666 | 0.43% |
| 40 | ALKERMES PLC | $1.8M | 50000 | 0.41% |
| 41 | ANAVEX LIFE SCIENCES CORPCALL | $1.6M | 521300 | 0.37% |
| 42 | OPUS GENETICS INC | $1.5M | 324340 | 0.34% |
Values in USD (reported in $thousands on 13F). Source: SEC EDGAR.