13F HOLDINGS REPORT
Stonepine Capital Management, LLC
Quarter ended Q4 2025 · Filed February 13, 2026 · Accession 0000935836-26-000090
Total Value
$137.0M
Positions
66
Other Managers
0
Confidential Omitted
No
Holdings (66)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | VERASTEM INC | VSTM | 2,732,079 | $21.1M | 15.40% |
| 2 | ADMA BIOLOGICS INC | ADMA | 740,000 | $13.5M | 9.85% |
| 3 | EVOLUS INC | EOLS | 1,631,588 | $10.9M | 7.92% |
| 4 | ZEVRA THERAPEUTICS INC | ZVRA | 569,088 | $5.1M | 3.72% |
| 5 | INHIBIKASE THERAPEUTICS INC | IKT | 2,348,147 | $4.8M | 3.51% |
| 6 | ABEONA THERAPEUTICS INC | ABEO | 709,505 | $3.7M | 2.73% |
| 7 | NEKTAR THERAPEUTICS | NKTR | 85,000 | $3.6M | 2.62% |
| 8 | INDIVIOR PLC | INDV | 100,000 | $3.6M | 2.62% |
| 9 | CORBUS PHARMACEUTICALS HLDGS | CRBP | 389,916 | $3.2M | 2.32% |
| 10 | KAZIA THERAPEUTICS LTD | KZIA | 460,359 | $3.2M | 2.32% |
| 11 | XOMA ROYALTY CORPORATION | XOMAP | 115,000 | $3.1M | 2.23% |
| 12 | VERRICA PHARMACEUTICALS INC | VRCA | 353,669 | $2.9M | 2.15% |
| 13 | CYBIN INC | HELP | 339,902 | $2.8M | 2.03% |
| 14 | TELA BIO INC | TELA | 2,352,032 | $2.8M | 2.03% |
| 15 | ACADIA PHARMACEUTICALS INC | ACAD | 100,000 | $2.7M | 1.95% |
| 16 | CRISPR THERAPEUTICS AG | CRSP | 50,000 | $2.6M | 1.91% |
| 17 | SURROZEN INC | SRZNW | 113,631 | $2.6M | 1.87% |
| 18 | ALEXANDRIA REAL ESTATE EQ IN | 015271109 | 50,000 | $2.4M | 1.79% |
| 19 | X4 PHARMACEUTICALS INC | XFOR | 593,573 | $2.4M | 1.73% |
| 20 | ULTRAGENYX PHARMACEUTICAL IN | RARE | 100,000 | $2.3M | 1.68% |
| 21 | AYTU BIOPHARMA INC | AYTU | 813,704 | $2.1M | 1.54% |
| 22 | NEKTAR THERAPEUTICS | NKTR | 50,000 | $2.1M | 1.54% |
| 23 | DAY ONE BIOPHARMACEUTICALS I | DAWN | 200,000 | $1.9M | 1.36% |
| 24 | ADICET BIO INC | ACET | 220,011 | $1.9M | 1.35% |
| 25 | SPRUCE BIOSCIENCES INC | SPRB | 19,742 | $1.7M | 1.26% |
| 26 | HERON THERAPEUTICS INC | HRTX | 1,237,802 | $1.6M | 1.17% |
| 27 | ENANTA PHARMACEUTICALS INC | ENTA | 100,000 | $1.6M | 1.15% |
| 28 | PMV PHARMACEUTICALS INC | PMVP | 1,150,759 | $1.4M | 1.05% |
| 29 | CAMP4 THERAPEUTICS CORP | CAMP | 228,894 | $1.4M | 1.02% |
| 30 | ELEDON PHARMACEUTICALS INC | ELDN | 893,100 | $1.3M | 0.98% |
| 31 | MILESTONE PHARMACEUTICALS IN | MIST | 662,666 | $1.3M | 0.98% |
| 32 | OMNIAB INC | OABIW | 701,000 | $1.3M | 0.95% |
| 33 | QUOIN PHARMACEUTICALS LTD | QNRX | 78,189 | $1.1M | 0.82% |
| 34 | PULMONX CORP | LUNG | 486,400 | $1.1M | 0.78% |
| 35 | GERON CORP | GERN | 805,800 | $1.1M | 0.78% |
| 36 | ABEONA THERAPEUTICS INC | ABEO | 200,000 | $1.1M | 0.77% |
| 37 | CRESCENT BIOPHARMA INC. | CBIO | 87,682 | $1.0M | 0.76% |
| 38 | KEZAR LIFE SCIENCES INC | KZR | 156,179 | $982,366 | 0.72% |
| 39 | EDESA BIOTECH INC | EDSA | 687,500 | $976,250 | 0.71% |
| 40 | BOUNDLESS BIO INC | BOLD | 710,071 | $852,085 | 0.62% |
| 41 | RADIOPHARM THERANOSTICS LTD | RDPTF | 51,000,000 | $850,851 | 0.62% |
| 42 | SEMLER SCIENTIFIC INC | 81684M104 | 50,000 | $764,500 | 0.56% |
| 43 | MAXCYTE INC | MXCT | 469,018 | $726,978 | 0.53% |
| 44 | AN2 THERAPEUTICS INC | ANTX | 627,668 | $715,542 | 0.52% |
| 45 | GOSSAMER BIO INC | GOSS | 204,770 | $634,787 | 0.46% |
| 46 | ZENTALIS PHARMACEUTICALS INC | ZNTL | 463,700 | $625,995 | 0.46% |
| 47 | BIOAGE LABS INC | BIOA | 45,000 | $595,350 | 0.43% |
| 48 | MANNKIND CORP | MNKD | 86,359 | $489,656 | 0.36% |
| 49 | COMPUGEN LTD | CGEN | 305,400 | $467,262 | 0.34% |
| 50 | CODEXIS INC | CDXS | 256,106 | $417,453 | 0.30% |
| 51 | IN8BIO INC | INAB | 164,893 | $385,850 | 0.28% |
| 52 | FENNEC PHARMACEUTICALS INC | FENC | 50,000 | $385,000 | 0.28% |
| 53 | CABALETTA BIO INC | CABA | 171,100 | $374,709 | 0.27% |
| 54 | PASITHEA THERAPEUTICS CORP | KTTAW | 275,062 | $354,830 | 0.26% |
| 55 | PLIANT THERAPEUTICS INC | PLRX | 230,050 | $280,661 | 0.20% |
| 56 | JANUX THERAPEUTICS INC | JANX | 20,000 | $276,000 | 0.20% |
| 57 | DELCATH SYS INC | DCTH | 27,232 | $275,043 | 0.20% |
| 58 | KIORA PHARMACEUTICALS INC | KPHMW | 131,144 | $258,354 | 0.19% |
| 59 | CNS PHARMACEUTICALS INC | CNSP | 48,827 | $256,342 | 0.19% |
| 60 | TENAYA THERAPEUTICS INC | TNYA | 352,001 | $250,449 | 0.18% |
| 61 | OVID THERAPEUTICS INC | OVID | 102,367 | $166,858 | 0.12% |
| 62 | TENAX THERAPEUTICS INC | TENX | 11,884 | $144,866 | 0.11% |
| 63 | EVAXION AS | 29970R303 | 20,000 | $95,400 | 0.07% |
| 64 | XILIO THERAPEUTICS INC | XLO | 126,270 | $80,838 | 0.06% |
| 65 | CURIS INC | CRIS | 59,349 | $58,583 | 0.04% |
| 66 | PROCESSA PHARMACEUTICALS INC | PCSA | 12,323 | $35,490 | 0.03% |