Velan Capital Investment Management LP's Q2 2026 13F: 6 new positions, 5 exits
Form 13F-HR for the quarter ended Jun 30, 2026 · filed Aug 14, 2026 · 50 reported positions · accession 0001848809-26-000003
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | ESPERION THERAPEUTICS INC NE (ESPR) | 3.0% | — | −3.0 pts | −1.72M sh | −100% |
| Reduced | PRAXIS PRECISION MEDICINES I (PRAX) | 20.3% | 18.2% | −2.1 pts | −12,000 sh | −12% |
| Increased | IMMIX BIOPHARMA INC (IMMX) | 4.2% | 6.9% | +2.6 pts | +345K sh | +47% |
| New | C4 THERAPEUTICS INC (CCCC) | — | 1.6% | +1.6 pts | +570K sh | new |
| Increased | AVALO THERAPEUTICS INC (AVTX) | 1.7% | 3.7% | +1.9 pts | +139K sh | +75% |
| New | ADMA BIOLOGICS INC (ADMA) | — | 1.3% | +1.3 pts | +250K sh | new |
| New | REIN THERAPEUTICS INC (RNTX) | — | 1.1% | +1.1 pts | +1.7M sh | new |
| Reduced | CYTOMX THERAPEUTICS INC. (CTMX) | 1.6% | 0.3% | −1.3 pts | −420K sh | −78% |
| Reduced | ABIVAX SA (ABVX) | 5.4% | 5.4% | 0.0 pts | −11,370 sh | −15% |
| Reduced | VIRIDIAN THERAPEUTICS INC (VRDN) | 1.1% | 0.1% | −1.0 pts | −81,123 sh | −89% |
| Reduced | INSPIREMD INC (NSPR) | 2.1% | 0.1% | −2.1 pts | −1.95M sh | −93% |
| Exited | KAZIA THERAPEUTICS LTD (KZIA) | 0.6% | — | −0.6 pts | −135K sh | −100% |
| Reduced | ROCKET PHARMACEUTICALS INC (RCKT) | 0.7% | 0.1% | −0.5 pts | −235K sh | −80% |
| Reduced | PROFOUND MED CORP (PROF) | 1.2% | 0.7% | −0.5 pts | −115K sh | −40% |
| Reduced | TENAX THERAPEUTICS INC (TENX) | 5.8% | 4.9% | −0.9 pts | −33,348 sh | −6% |
| Exited | ARROWHEAD PHARMACEUTICALS IN (ARWR) | 0.3% | — | −0.3 pts | −6,500 sh | −100% |
| Increased | NEUMORA THERAPEUTICS INC. (NMRA) | 0.1% | 0.2% | +0.1 pts | +150K sh | +188% |
| Reduced | QUOIN PHARMACEUTICALS LTD (QNRX) | 0.4% | 0.1% | −0.3 pts | −52,477 sh | −62% |
| Exited | DESIGN THERAPEUTICS INC (DSGN) | 0.1% | — | −0.1 pts | −20,000 sh | −100% |
| New | TECTONIC THERAPEUTIC INC (TECX) | — | 0.1% | +0.1 pts | +6,000 sh | new |
| New | AN2 THERAPEUTICS INC (ANTX) | — | 0.1% | +0.1 pts | +40,000 sh | new |
| New | SCYNEXIS INC (SCYX) | — | 0.1% | +0.1 pts | +40,000 sh | new |
| Increased | MACROGENICS INC (MGNX) | 0.1% | 0.2% | +0.1 pts | +30,000 sh | +100% |
| Exited | PMV PHARMACEUTICALS INC (PMVP) | 0.1% | — | −0.1 pts | −73,000 sh | −100% |
| Reduced | OVID THERAPEUTICS INC (OVID) | 0.2% | 0.2% | 0.0 pts | −30,000 sh | −19% |
| Increased | XENCOR INC (XNCR) | 1.9% | 2.5% | +0.6 pts | +5,000 sh | +2% |
| Increased | EVOMMUNE INC (EVMN) | 6.4% | 3.7% | −2.8 pts | +5,000 sh | +1% |
| Increased | KARYOPHARM THERAPEUTICS INC (KPTI) | 0.1% | 0.1% | +0.1 pts | +5,000 sh | +33% |
| Increased | LYELL IMMUNOPHARMA INC (LYEL) | 1.3% | 0.9% | −0.4 pts | +3,000 sh | +3% |
| Increased | PROTARA THERAPEUTICS INC (TARA) | 9.3% | 6.7% | −2.6 pts | +10,000 sh | 0% |
| Increased | KALARIS THERAPEUTICS INC (KLRS) | 0.1% | 0.1% | 0.0 pts | +7,000 sh | +39% |
| Reduced | CONTEXT THERAPEUTICS INC (CNTX) | 0.2% | 0.0% | −0.1 pts | −40,300 sh | −40% |
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
Top 10 positions — 75.2% of the equity book
Changes in the top 10 this quarter: AVR entered · EDSA entered · HRTX left · ESPR left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | PRAXIS PRECISION MEDICINES I (PRAX) | 20.3% | 18.2% | |
| 2 | MAPLIGHT THERAPEUTICS INC (MPLT) | 6.3% | 10.8% | |
| 3 | SUTRO BIOPHARMA INC (STRO) | 8.0% | 10.4% | |
| 4 | IMMIX BIOPHARMA INC (IMMX) | 4.2% | 6.9% | |
| 5 | PROTARA THERAPEUTICS INC (TARA) | 9.3% | 6.7% | |
| 6 | ABIVAX SA (ABVX) | 5.4% | 5.4% | |
| 7 | TENAX THERAPEUTICS INC (TENX) | 5.8% | 4.9% | |
| 8 | ANTERIS TECHNOLOGIES GLOBAL (AVR) | 2.4% | 4.2% | Entered the top 10 |
| 9 | EDESA BIOTECH INC (EDSA) | 2.7% | 4.1% | Entered the top 10 |
| 10 | EVOMMUNE INC (EVMN) | 6.4% | 3.7% | |
| — | HERON THERAPEUTICS INC (HRTX) | 4.4% | 2.3% | Left the top 10 |
| — | ESPERION THERAPEUTICS INC NE (ESPR) | 3.0% | 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 | TENAX THERAPEUTICS INC (TENX) | Call | 0 | 68,700 | $1M |