13F HOLDINGS REPORT
Decheng Capital LLC
Quarter ended Q3 2025 · Filed November 14, 2025 · Accession 0001104659-25-112117
Total Value
$573.2M
Positions
23
Other Managers
0
Confidential Omitted
No
Holdings (23)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | CG ONCOLOGY INC | CGON | 6,371,669 | $256.7M | 44.78% |
| 2 | Nuvation Bio Inc. | NUVB | 25,954,439 | $96.0M | 16.75% |
| 3 | Upstream Bio Inc. | UPB | 3,285,293 | $61.8M | 10.78% |
| 4 | AARDVARK THERAPEUTICS INC | AARD | 3,917,299 | $52.1M | 9.08% |
| 5 | NEWAMSTERDAM PHARMA CO NV | NAMSW | 657,051 | $18.7M | 3.26% |
| 6 | MERUS NV | N5749R100 | 186,546 | $17.6M | 3.06% |
| 7 | REVOLUTION MEDICINES INC(NSM) | RVMDW | 210,000 | $9.8M | 1.71% |
| 8 | Lyell Immunopharma, Inc. | LYEL | 595,466 | $9.7M | 1.69% |
| 9 | BeyondSpring Inc. | BYSI | 4,286,104 | $7.8M | 1.35% |
| 10 | Aclaris Therapeutics, Inc. | ACRS | 4,041,736 | $7.7M | 1.34% |
| 11 | Arcus Biosciences, Inc | RCUS | 547,609 | $7.4M | 1.30% |
| 12 | Equillium Inc. | EQ | 4,447,308 | $6.4M | 1.11% |
| 13 | CRINETICS PHARMACEUTICALS IN | CRNX | 143,000 | $6.0M | 1.04% |
| 14 | KRYSTAL BIOTECH INC | KRYS | 32,300 | $5.7M | 0.99% |
| 15 | Aura Biosciences, Inc. | AURA | 515,555 | $3.2M | 0.56% |
| 16 | Zentalis Pharmaceuticals Inc. | ZNTL | 1,323,327 | $2.0M | 0.35% |
| 17 | MOONLAKE IMMUNOTHERAPEUTICS | MLTX | 181,600 | $1.3M | 0.23% |
| 18 | 4D MOLECULAR THERAPEUTICS IN | FDMT | 92,748 | $805,980 | 0.14% |
| 19 | Illumnia, Inc. | ILMN | 7,979 | $757,766 | 0.13% |
| 20 | Pyxis Oncology, Inc (formerly Apexigen) | PYXS | 326,810 | $725,518 | 0.13% |
| 21 | GRAIL INC | GRAL | 9,684 | $572,615 | 0.10% |
| 22 | REZOLUTE INC | RZLT | 59,900 | $563,060 | 0.10% |
| 23 | Nuvation Bio Inc. | NUVB | 646,057 | $115,458 | 0.02% |