13F HOLDINGS REPORT
Stonepine Capital Management, LLC
Quarter ended Q3 2025 · Filed November 13, 2025 · Accession 0000935836-25-000666
Total Value
$123.0M
Positions
58
Other Managers
0
Confidential Omitted
No
Holdings (58)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | VERASTEM INC | VSTM | 2,670,032 | $23.6M | 19.17% |
| 2 | ADMA BIOLOGICS INC | ADMA | 739,000 | $10.8M | 8.81% |
| 3 | EVOLUS INC | EOLS | 1,536,391 | $9.4M | 7.67% |
| 4 | ZEVRA THERAPEUTICS INC | ZVRA | 810,000 | $7.7M | 6.26% |
| 5 | NEKTAR THERAPEUTICS | NKTR | 85,000 | $4.8M | 3.93% |
| 6 | DAY ONE BIOPHARMACEUTICALS I | DAWN | 647,382 | $4.6M | 3.71% |
| 7 | XOMA ROYALTY CORPORATION | XOMAP | 115,459 | $4.4M | 3.62% |
| 8 | ACADIA PHARMACEUTICALS INC | ACAD | 174,544 | $3.7M | 3.03% |
| 9 | ENANTA PHARMACEUTICALS INC | ENTA | 305,000 | $3.7M | 2.97% |
| 10 | X4 PHARMACEUTICALS INC | XFOR | 1,056,338 | $3.6M | 2.94% |
| 11 | OMNIAB INC | OABIW | 2,142,857 | $3.4M | 2.79% |
| 12 | SURROZEN INC | SRZNW | 250,146 | $3.2M | 2.62% |
| 13 | TELA BIO INC | TELA | 2,155,519 | $3.2M | 2.61% |
| 14 | INDIVIOR PLC | INDV | 100,000 | $2.4M | 1.96% |
| 15 | ABEONA THERAPEUTICS INC | ABEO | 450,970 | $2.4M | 1.94% |
| 16 | GERON CORP | GERN | 1,600,000 | $2.2M | 1.78% |
| 17 | PMV PHARMACEUTICALS INC | PMVP | 1,370,139 | $1.9M | 1.56% |
| 18 | EDESA BIOTECH INC | EDSA | 687,500 | $1.7M | 1.38% |
| 19 | AYTU BIOPHARMA INC | AYTU | 891,855 | $1.7M | 1.36% |
| 20 | SOLENO THERAPEUTICS INC | SLNO | 24,000 | $1.6M | 1.32% |
| 21 | KEZAR LIFE SCIENCES INC | KZR | 383,182 | $1.5M | 1.21% |
| 22 | ALUMIS INC | ALMS | 300,000 | $1.2M | 0.97% |
| 23 | INHIBIKASE THERAPEUTICS INC | IKT | 735,019 | $1.2M | 0.97% |
| 24 | BIOAGE LABS INC | BIOA | 188,571 | $1.1M | 0.90% |
| 25 | ARDELYX INC | ARDX | 200,000 | $1.1M | 0.90% |
| 26 | PULMONX CORP | LUNG | 670,000 | $1.1M | 0.88% |
| 27 | DYNAVAX TECHNOLOGIES CORP | 268158201 | 108,094 | $1.1M | 0.87% |
| 28 | HERON THERAPEUTICS INC | HRTX | 850,100 | $1.1M | 0.87% |
| 29 | VANDA PHARMACEUTICALS INC | VNDA | 195,000 | $973,050 | 0.79% |
| 30 | VIR BIOTECHNOLOGY INC | VIR | 160,000 | $913,600 | 0.74% |
| 31 | MANNKIND CORP | MNKD | 157,569 | $846,146 | 0.69% |
| 32 | MAXCYTE INC | MXCT | 459,018 | $725,248 | 0.59% |
| 33 | AN2 THERAPEUTICS INC | ANTX | 563,913 | $716,170 | 0.58% |
| 34 | ZENTALIS PHARMACEUTICALS INC | ZNTL | 453,800 | $685,238 | 0.56% |
| 35 | ANGIODYNAMICS INC | ANGO | 60,000 | $670,200 | 0.54% |
| 36 | GRACE THERAPEUTICS INC | GRCE | 211,010 | $628,177 | 0.51% |
| 37 | ULTRAGENYX PHARMACEUTICAL IN | RARE | 20,000 | $601,600 | 0.49% |
| 38 | SYNDAX PHARMACEUTICALS INC | SNDX | 37,200 | $572,322 | 0.47% |
| 39 | AQUESTIVE THERAPEUTICS INC | AQST | 100,600 | $562,354 | 0.46% |
| 40 | GOSSAMER BIO INC | GOSS | 204,770 | $538,545 | 0.44% |
| 41 | BOUNDLESS BIO INC | BOLD | 413,453 | $508,547 | 0.41% |
| 42 | HEALTH CATALYST INC | HCAT | 155,551 | $443,320 | 0.36% |
| 43 | ESTABLISHMENT LABS HLDGS INC | ESTA | 10,585 | $433,879 | 0.35% |
| 44 | PLIANT THERAPEUTICS INC | PLRX | 289,237 | $428,071 | 0.35% |
| 45 | CYTOMX THERAPEUTICS INC | CTMX | 125,000 | $398,750 | 0.32% |
| 46 | KIORA PHARMACEUTICALS INC | KPHMW | 140,598 | $390,862 | 0.32% |
| 47 | REZOLUTE INC | RZLT | 40,000 | $376,000 | 0.31% |
| 48 | ACLARIS THERAPEUTICS INC | ACRS | 192,900 | $366,510 | 0.30% |
| 49 | IN8BIO INC | INAB | 159,421 | $345,944 | 0.28% |
| 50 | HELIUS MED TECHNOLOGIES INC | HSDT | 20,000 | $297,800 | 0.24% |
| 51 | CODEXIS INC | CDXS | 88,264 | $215,364 | 0.18% |
| 52 | SAVARA INC | SVRA | 60,000 | $214,200 | 0.17% |
| 53 | ABIVAX SA | AAVXF | 2,500 | $212,250 | 0.17% |
| 54 | PROCESSA PHARMACEUTICALS INC | PCSA | 1,030,200 | $197,695 | 0.16% |
| 55 | LARIMAR THERAPEUTICS INC | LRMR | 25,000 | $80,750 | 0.07% |
| 56 | CHEMOMAB THERAPEUTICS LTD | CMMB | 30,000 | $78,900 | 0.06% |
| 57 | WHITEHAWK THERAPEUTICS INC | WHWK | 35,253 | $66,981 | 0.05% |
| 58 | JASPER THERAPEUTICS INC | JSPRW | 20,200 | $48,076 | 0.04% |