BVF INC IL's Q2 2025 13F: 2 new positions, 9 exits
Form 13F-HR for the quarter ended Jun 30, 2025 · filed Aug 14, 2025 · 44 reported positions · accession 0000921895-25-002281
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | GALAPAGOS NV (LKFT) | 1.5% | — | −1.5 pts | −1.45M sh | −100% |
| Exited | VERVE THERAPEUTICS INC (VERV) | 1.3% | — | −1.3 pts | −6.9M sh | −100% |
| Increased | PROTAGONIST THERAPEUTICS INC (PTGX) | 5.1% | 6.3% | +1.3 pts | +636K sh | +25% |
| New | IMMUNOCORE HLDGS PLC (IMCR) | — | 1.1% | +1.1 pts | +1.02M sh | new |
| New | CRESCENT BIOPHARMA INC. (CBIO) | — | 0.8% | +0.8 pts | +1.39M sh | new |
| Exited | ITEOS THERAPEUTICS INC (ITOS) | 0.7% | — | −0.7 pts | −3.08M sh | −100% |
| Increased | KYMERA THERAPEUTICS INC (KYMR) | 5.8% | 8.6% | +2.8 pts | +341K sh | +7% |
| Reduced | XOMA ROYALTY CORPORATION (XOMA) | 2.4% | 2.3% | −0.1 pts | −393K sh | −13% |
| Exited | THIRD HARMONIC BIO INC (THRD) | 0.3% | — | −0.3 pts | −2.37M sh | −100% |
| Exited | VIGIL NEUROSCIENCE INC (VIGL) | 0.3% | — | −0.3 pts | −4.01M sh | −100% |
| Reduced | CIDARA THERAPEUTICS INC (CDTX) | 0.8% | 1.4% | +0.6 pts | −138K sh | −15% |
| Increased | VERASTEM INC (VSTM) | 0.5% | 0.5% | 0.0 pts | +1.3M sh | +62% |
| Exited | ALLAKOS INC (ALLK) | 0.2% | — | −0.2 pts | −16.55M sh | −100% |
| Exited | CYTOMX THERAPEUTICS INC (CTMX) | 0.1% | — | −0.1 pts | −5.23M sh | −100% |
| Exited | GLYCOMIMETICS INC (GLYC) | 0.1% | — | −0.1 pts | −9.54M sh | −100% |
| Reduced | MIRUM PHARMACEUTICALS INC (MIRM) | 5.1% | 5.0% | −0.1 pts | −35,180 sh | −1% |
| Exited | NEWAMSTERDAM PHARMA COMPANY (NAMS) | 0.0% | — | 0.0 pts | −59,065 sh | −100% |
| Reduced | IMMUNIC INC (IMUX) | 0.4% | 0.2% | −0.2 pts | −1.25M sh | −14% |
| Increased | TSCAN THERAPEUTICS INC (TCRX) | 0.3% | 0.3% | 0.0 pts | +337K sh | +7% |
| Increased | 4D MOLECULAR THERAPEUTICS IN (FDMT) | 0.6% | 0.6% | 0.0 pts | +68,000 sh | +1% |
| Reduced | FORTE BIOSCIENCES INC (FBRX) | 0.2% | 0.3% | +0.1 pts | −5,938 sh | −1% |
| Reduced | AVALO THERAPEUTICS INC (AVTX) | 0.3% | 0.2% | −0.2 pts | −8,630 sh | −1% |
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
† Security identifier (CUSIP) changed — read as one continuing position, not an exit and a new position:
- RAPT THERAPEUTICS INC (RAPT): 75382E109 → 75382E208, 9.24M → 1.15M shares (share count change consistent with a stock split)
Top 10 positions — 76.9% of the equity book
No changes in the top 10 this quarter
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | MOONLAKE IMMUNOTHERAPEUTICS (MLTX) | 31.5% | 33.3% | |
| 2 | KYMERA THERAPEUTICS INC (KYMR) | 5.8% | 8.6% | |
| 3 | REVOLUTION MEDICINES INC (RVMD) | 7.2% | 6.5% | |
| 4 | PROTAGONIST THERAPEUTICS INC (PTGX) | 5.1% | 6.3% | |
| 5 | AXSOME THERAPEUTICS INC (AXSM) | 8.0% | 6.3% | |
| 6 | MIRUM PHARMACEUTICALS INC (MIRM) | 5.1% | 5.0% | |
| 7 | GH RESEARCH PLC (GHRS) | 4.0% | 3.8% | |
| 8 | IONIS PHARMACEUTICALS INC (IONS) | 2.4% | 2.7% | |
| 9 | XOMA ROYALTY CORPORATION (XOMA) | 2.4% | 2.3% | |
| 10 | ZYMEWORKS INC (ZYME) | 2.1% | 1.9% |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).