Velan Capital Investment Management LP's Q4 2023 13F: 5 new positions, 13 exits
Form 13F-HR for the quarter ended Dec 31, 2023 · filed Feb 14, 2024 · 19 reported positions · accession 0001848809-24-000005
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| New | TOURMALINE BIO INC (TRML) | — | 5.9% | +5.9 pts | +319K sh | new |
| Exited | QUIPT HOME MEDICAL CORP (QIPT) | 4.6% | — | −4.6 pts | −1.1M sh | −100% |
| New | ROIVANT SCIENCES LTD (ROIV) | — | 4.0% | +4.0 pts | +500K sh | new |
| Reduced | TELA BIO INC (TELA) | 4.9% | 0.4% | −4.5 pts | −669K sh | −90% |
| Exited | MOONLAKE IMMUNOTHERAPEUTICS (MLTX) | 2.6% | — | −2.6 pts | −55,300 sh | −100% |
| Exited | GOSSAMER BIO INC (GOSS) | 2.1% | — | −2.1 pts | −3.07M sh | −100% |
| Exited | CABALETTA BIO INC (CABA) | 1.9% | — | −1.9 pts | −150K sh | −100% |
| Exited | TENET HEALTHCARE CORP (THC) | 1.3% | — | −1.3 pts | −24,937 sh | −100% |
| New | ACLARIS THERAPEUTICS INC (ACRS) | — | 1.3% | +1.3 pts | +1.76M sh | new |
| Increased | ADMA BIOLOGICS INC (ADMA) | 5.1% | 6.8% | +1.8 pts | +400K sh | +23% |
| Exited | ICOSAVAX INC (ICVX) | 1.0% | — | −1.0 pts | −161K sh | −100% |
| Exited | ASLAN PHARMACEUTICALS LTD (ASLN) | 1.0% | — | −1.0 pts | −625K sh | −100% |
| Exited | ANNEXON INC (ANNX) | 0.9% | — | −0.9 pts | −460K sh | −100% |
| New | IMMUNOVANT INC (IMVT) | — | 0.8% | +0.8 pts | +27,500 sh | new |
| Exited | EDESA BIOTECH INC (EDSA) | 0.7% | — | −0.7 pts | −1.28M sh | −100% |
| New | ENVVENO MEDICAL CORPORATION (NVNO) | — | 0.6% | +0.6 pts | +172K sh | new |
| Exited | CULLINAN ONCOLOGY INC (CGEM) | 0.6% | — | −0.6 pts | −75,000 sh | −100% |
| Exited | INFLARX NV (IFRX) | 0.5% | — | −0.5 pts | −200K sh | −100% |
| Exited | REZOLUTE INC (RZLT) | 0.4% | — | −0.4 pts | −400K sh | −100% |
| Increased | INSPIRE MED SYS INC (INSP) | 2.5% | 2.6% | +0.1 pts | +2,700 sh | +18% |
| Exited | INHIBRX INC (INBX) | 0.4% | — | −0.4 pts | −25,000 sh | −100% |
| Increased | OPTINOSE INC (OPTN) | 3.6% | 3.5% | −0.1 pts | +200K sh | +6% |
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:
- PRAXIS PRECISION MEDICINES I (PRAX): 74006W108 → 74006W207, 5.19M → 346K shares (share count change consistent with a stock split)
Top 10 positions — 89.0% of the equity book
Changes in the top 10 this quarter: TRML entered · IMGN entered · ROIV entered · TELA left · QIPT left · MLTX left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | ALIMERA SCIENCES INC (ALIM) | 34.5% | 41.6% | |
| 2 | HERON THERAPEUTICS INC (HRTX) | 5.9% | 8.4% | |
| 3 | ADMA BIOLOGICS INC (ADMA) | 5.1% | 6.8% | |
| 4 | JASPER THERAPEUTICS INC (JSPR) | 6.2% | 6.1% | |
| 5 | TOURMALINE BIO INC (TRML) | 0.0% | 5.9% | Entered the top 10 |
| 6 | PRAXIS PRECISION MEDICINES I (PRAX) | 7.2% | 5.5% | |
| 7 | IMMUNOGEN INC (IMGN) | 2.5% | 4.0% | Entered the top 10 |
| 8 | ROIVANT SCIENCES LTD (ROIV) | 0.0% | 4.0% | Entered the top 10 |
| 9 | OPTINOSE INC (OPTN) | 3.6% | 3.5% | |
| 10 | LANTHEUS HLDGS INC (LNTH) | 4.3% | 3.3% | |
| — | TELA BIO INC (TELA) | 4.9% | 0.4% | Left the top 10 |
| — | QUIPT HOME MEDICAL CORP (QIPT) | 4.6% | 0.0% | Left the top 10 |
| — | MOONLAKE IMMUNOTHERAPEUTICS (MLTX) | 2.6% | 0.0% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| New | ISHARES TR (IWM) | Put | 0 | 150K | $30.1M |
| Exited | IOVANCE BIOTHERAPEUTICS INC (IOVA) | Call | 250K | 0 | $0 |
| Exited | QUIPT HOME MEDICAL CORP (QIPT) | Call | 100K | 0 | $0 |