13F HOLDINGS REPORT
TANG CAPITAL MANAGEMENT LLC
Quarter ended Q1 2025 · Filed May 15, 2025 · Accession 0001214659-25-007882
Total Value
$1.81B
Positions
202
Other Managers
1
Confidential Omitted
No
Holdings (202)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | TARSUS PHARMACEUTICALS INC | TARS | 2,454,797 | $126.1M | 6.98% |
| 2 | GALAPAGOS NV | GLPGF | 3,961,797 | $99.5M | 5.51% |
| 3 | AURINIA PHARMACEUTICALS INC | AUPH | 10,029,500 | $80.6M | 4.46% |
| 4 | DYNAVAX TECHNOLOGIES CORP | 268158201 | 5,750,000 | $74.6M | 4.13% |
| 5 | EVOLUS INC | EOLS | 4,997,399 | $60.1M | 3.33% |
| 6 | KALVISTA PHARMACEUTICALS INC | KALV | 4,941,798 | $57.0M | 3.15% |
| 7 | IMMUNOCORE HLDGS PLC | IMCR | 1,915,708 | $56.8M | 3.14% |
| 8 | MIRUM PHARMACEUTICALS INC | MIRM | 1,237,107 | $55.7M | 3.08% |
| 9 | PTC THERAPEUTICS INC | PTCT | 1,000,000 | $51.0M | 2.82% |
| 10 | KINIKSA PHARMACEUTICALS INTL | G52694109 | 2,118,579 | $47.1M | 2.60% |
| 11 | VIRIDIAN THERAPEUTICS INC | VRDN | 2,792,925 | $37.6M | 2.08% |
| 12 | SPYRE THERAPEUTICS INC | SYRE | 2,050,000 | $33.1M | 1.83% |
| 13 | INTRA-CELLULAR THERAPIES INC | 46116X101 | 220,000 | $29.0M | 1.61% |
| 14 | ANAPTYSBIO INC | ANABV | 1,545,153 | $28.7M | 1.59% |
| 15 | REPLIMUNE GROUP INC | REPL | 2,900,000 | $28.3M | 1.56% |
| 16 | LEGEND BIOTECH CORP | LEGN | 830,000 | $28.2M | 1.56% |
| 17 | ACADIA PHARMACEUTICALS INC | ACAD | 1,500,000 | $24.9M | 1.38% |
| 18 | BIONTECH SE | BNTX | 270,000 | $24.6M | 1.36% |
| 19 | ACELYRIN INC | 00445A100 | 9,818,115 | $24.3M | 1.34% |
| 20 | JAZZ PHARMACEUTICALS PLC | JAZZ | 190,000 | $23.6M | 1.30% |
| 21 | ANI PHARMACEUTICALS INC | ANIP | 317,500 | $21.3M | 1.18% |
| 22 | RELAY THERAPEUTICS INC | RLAY | 8,068,058 | $21.1M | 1.17% |
| 23 | COMPASS THERAPEUTICS INC | CMPX | 11,052,632 | $21.0M | 1.16% |
| 24 | ADMA BIOLOGICS INC | ADMA | 1,050,000 | $20.8M | 1.15% |
| 25 | LENZ THERAPEUTICS INC | LENZ | 766,940 | $19.7M | 1.09% |
| 26 | ASTRAZENECA PLC | AZN | 250,000 | $18.4M | 1.02% |
| 27 | LIQUIDIA CORPORATION | LQDA | 1,200,000 | $17.7M | 0.98% |
| 28 | NEUROCRINE BIOSCIENCES INC | NBIX | 150,000 | $16.6M | 0.92% |
| 29 | AVADEL PHARMACEUTICALS PLC | G29687103 | 2,097,500 | $16.4M | 0.91% |
| 30 | ITEOS THERAPEUTICS INC | 46565G104 | 2,689,200 | $16.1M | 0.89% |
| 31 | META PLATFORMS INC | META | 27,575 | $15.9M | 0.88% |
| 32 | GSK PLC | GLAXF | 400,000 | $15.5M | 0.86% |
| 33 | NVIDIA CORPORATION | NVDA | 142,569 | $15.5M | 0.85% |
| 34 | SANOFI | SNYNF | 270,000 | $15.0M | 0.83% |
| 35 | ATEA PHARMACEUTICALS INC | AVIR | 4,800,000 | $14.4M | 0.79% |
| 36 | ALTIMMUNE INC | ALT | 2,750,000 | $13.8M | 0.76% |
| 37 | ZYMEWORKS INC | ZYME | 1,100,000 | $13.1M | 0.72% |
| 38 | NKARTA INC | NKTX | 7,055,576 | $13.0M | 0.72% |
| 39 | CARGO THERAPEUTICS INC | 14179K101 | 3,059,630 | $12.5M | 0.69% |
| 40 | CYBIN INC | HELP | 1,830,097 | $11.6M | 0.64% |
| 41 | VAXCYTE INC | PCVX | 300,000 | $11.3M | 0.63% |
| 42 | KEROS THERAPEUTICS INC | KROS | 1,100,000 | $11.2M | 0.62% |
| 43 | TELADOC HEALTH INC | TDOC | 1,400,000 | $11.1M | 0.62% |
| 44 | JOURNEY MED CORP | DERM | 1,854,596 | $10.9M | 0.61% |
| 45 | VANDA PHARMACEUTICALS INC | VNDA | 2,353,307 | $10.8M | 0.60% |
| 46 | BEIGENE LTD | BEIGF | 37,000 | $10.1M | 0.56% |
| 47 | ARVINAS INC | ARVN | 1,393,800 | $9.8M | 0.54% |
| 48 | HARMONY BIOSCIENCES HLDGS IN | HRMY | 281,200 | $9.3M | 0.52% |
| 49 | ALIBABA GROUP HOLDING LTD ADR | BBAAY | 70,000 | $9.3M | 0.51% |
| 50 | CRISPR THERAPEUTICS AG | CRSP | 266,500 | $9.1M | 0.50% |
| 51 | MODERNA INC | MRNA | 305,300 | $8.7M | 0.48% |
| 52 | CULLINAN THERAPEUTICS INC | CGEM | 1,121,138 | $8.5M | 0.47% |
| 53 | ELANCO ANIMAL HEALTH INC | ELAN | 800,100 | $8.4M | 0.46% |
| 54 | PLIANT THERAPEUTICS INC ORD | PLRX | 6,000,000 | $8.1M | 0.45% |
| 55 | BAUSCH PLUS LOMB CORP | 071705107 | 550,000 | $8.0M | 0.44% |
| 56 | INSMED INC | INSM | 100,000 | $7.6M | 0.42% |
| 57 | PHATHOM PHARMACEUTICALS INC | PHAT | 1,200,000 | $7.5M | 0.42% |
| 58 | APOGEE THERAPEUTICS INC | APGE | 200,000 | $7.5M | 0.41% |
| 59 | HILLEVAX INC | 43157M102 | 4,920,000 | $7.1M | 0.39% |
| 60 | IMMUNITYBIO INC | IBRX | 2,333,333 | $7.0M | 0.39% |
| 61 | NUVATION BIO INC | NUVB | 3,900,000 | $6.9M | 0.38% |
| 62 | ESSA PHARMA INC | 29668H708 | 4,300,000 | $6.8M | 0.38% |
| 63 | EDGEWISE THERAPEUTICS INC | EWTX | 300,000 | $6.6M | 0.37% |
| 64 | VIKING THERAPEUTICS INC | VKTX | 270,000 | $6.5M | 0.36% |
| 65 | DESIGN THERAPEUTICS INC | DSGN | 1,680,975 | $6.5M | 0.36% |
| 66 | REGENERON PHARMACEUTICALS | REGN | 10,000 | $6.3M | 0.35% |
| 67 | ADICET BIO INC | ACET | 8,223,612 | $6.2M | 0.34% |
| 68 | BIOAGE LABS INC | BIOA | 1,600,000 | $6.0M | 0.33% |
| 69 | BIOCRYST PHARMACEUTICALS INC | BCRX | 800,000 | $6.0M | 0.33% |
| 70 | IOVANCE BIOTHERAPEUTICS INC | IOVA | 1,800,000 | $6.0M | 0.33% |
| 71 | ABCELLERA BIOLOGICS INC | ABCL | 2,600,000 | $5.8M | 0.32% |
| 72 | ROCKET PHARMACEUTICALS INC | RCKTW | 850,000 | $5.7M | 0.31% |
| 73 | HERON THERAPEUTICS INC | HRTX | 2,235,459 | $4.9M | 0.27% |
| 74 | LANTHEUS HLDGS INC | LNTH | 50,000 | $4.9M | 0.27% |
| 75 | DIANTHUS THERAPEUTICS INC | DNTH | 264,692 | $4.8M | 0.27% |
| 76 | BIOGEN INC | BIIB | 35,000 | $4.8M | 0.26% |
| 77 | IONIS PHARMACEUTICALS INC | IONS | 150,000 | $4.5M | 0.25% |
| 78 | CYTOMX THERAPEUTICS INC | CTMX | 6,717,825 | $4.3M | 0.24% |
| 79 | MERUS N V | N5749R100 | 100,000 | $4.2M | 0.23% |
| 80 | COHERUS BIOSCIENCES INC | CHRS | 5,097,362 | $4.1M | 0.23% |
| 81 | JANUX THERAPEUTICS INC | JANX | 150,000 | $4.0M | 0.22% |
| 82 | CYTOKINETICS INC | CYTK | 100,000 | $4.0M | 0.22% |
| 83 | COMPASS PATHWAYS PLC | CMPS | 1,400,000 | $4.0M | 0.22% |
| 84 | TG THERAPEUTICS INC | TGTX | 100,000 | $3.9M | 0.22% |
| 85 | GENMAB A/S | GNMSF | 200,000 | $3.9M | 0.22% |
| 86 | NOVAVAX INC | NVAX | 600,000 | $3.8M | 0.21% |
| 87 | ALEXANDRIA REAL ESTATE EQ IN | 015271109 | 40,000 | $3.7M | 0.20% |
| 88 | VERA THERAPEUTICS INC CL A | VERA | 150,000 | $3.6M | 0.20% |
| 89 | SOLENO THERAPEUTICS INC | SLNO | 50,000 | $3.6M | 0.20% |
| 90 | VENTYX BIOSCIENCES INC | 92332V107 | 3,100,000 | $3.6M | 0.20% |
| 91 | NUVALENT INC | NUVL | 50,000 | $3.5M | 0.20% |
| 92 | REVOLUTION MEDICINES INC | RVMDW | 100,000 | $3.5M | 0.20% |
| 93 | KEZAR LIFE SCIENCES INC | KZR | 720,000 | $3.5M | 0.19% |
| 94 | BIOHAVEN LTD | BHVN | 140,000 | $3.4M | 0.19% |
| 95 | STOKE THERAPEUTICS INC | STOK | 500,000 | $3.3M | 0.18% |
| 96 | SPRINGWORKS THERAPEUTICS INC | 85205L107 | 74,265 | $3.3M | 0.18% |
| 97 | VIR BIOTECHNOLOGY INC | VIR | 500,000 | $3.2M | 0.18% |
| 98 | THIRD HARMONIC BIO INC | 88427A107 | 929,727 | $3.2M | 0.18% |
| 99 | PRECISION BIOSCIENCES INC | DTIL | 673,332 | $3.2M | 0.18% |
| 100 | BLACK DIAMOND THERAPEUTICS I | BDTX | 2,070,209 | $3.2M | 0.18% |
| 101 | MINERALYS THERAPEUTICS INC | MLYS | 200,000 | $3.2M | 0.18% |
| 102 | TECTONIC THERAPEUTIC INC | TECX | 179,166 | $3.2M | 0.18% |
| 103 | KALARIS THERAPEUTICS, INC | KLRS | 309,221 | $2.5M | 0.14% |
| 104 | SYNDAX PHARMACEUTICALS INC | SNDX | 200,000 | $2.5M | 0.14% |
| 105 | ZENTALIS PHARMACEUTICALS INC | ZNTL | 1,500,000 | $2.4M | 0.13% |
| 106 | THERAVANCE BIOPHARMA INC | TBPH | 262,896 | $2.3M | 0.13% |
| 107 | BERKSHIRE HATHAWAY INC DEL | BRK-A | 4,401 | $2.3M | 0.13% |
| 108 | MIND MEDICINE MINDMED INC | 60255C885 | 400,200 | $2.3M | 0.13% |
| 109 | VISA INC | V | 6,570 | $2.3M | 0.13% |
| 110 | SEER INC | SEER | 1,294,423 | $2.2M | 0.12% |
| 111 | JPMORGAN CHASE & CO. | VYLD | 8,854 | $2.2M | 0.12% |
| 112 | VERIZON COMMUNICATIONS INC | VZ | 47,153 | $2.1M | 0.12% |
| 113 | COCA COLA CO | KO | 29,762 | $2.1M | 0.12% |
| 114 | IDEXX LABS INC | 45168D104 | 5,000 | $2.1M | 0.12% |
| 115 | WALMART INC | WMT | 23,802 | $2.1M | 0.12% |
| 116 | JOHNSON & JOHNSON | JNJ | 12,243 | $2.0M | 0.11% |
| 117 | ATYR PHARMA INC | ATYR | 671,134 | $2.0M | 0.11% |
| 118 | PROCTER AND GAMBLE CO | 742718109 | 11,813 | $2.0M | 0.11% |
| 119 | ALLAKOS INC | 01671P100 | 8,693,687 | $2.0M | 0.11% |
| 120 | EXXON MOBIL CORP | XOM | 16,597 | $2.0M | 0.11% |
| 121 | ALX ONCOLOGY HLDGS INC | ALXO | 3,158,265 | $2.0M | 0.11% |
| 122 | BLUEBIRD BIO INC | 09609G209 | 400,000 | $2.0M | 0.11% |
| 123 | INTEL CORP | INTC | 84,945 | $1.9M | 0.11% |
| 124 | UNITEDHEALTH GROUP INC | UNH | 3,541 | $1.9M | 0.10% |
| 125 | DISNEY WALT CO | 254687106 | 18,626 | $1.8M | 0.10% |
| 126 | MICROSOFT CORP | MSFT | 4,825 | $1.8M | 0.10% |
| 127 | HOME DEPOT INC | HD | 4,850 | $1.8M | 0.10% |
| 128 | CAREDX INC | CDNA | 100,000 | $1.8M | 0.10% |
| 129 | TEXAS INSTRS INC | 882508104 | 9,775 | $1.8M | 0.10% |
| 130 | ONKURE THERAPEUTICS INC | OKUR | 400,000 | $1.7M | 0.10% |
| 131 | PFIZER INC | PFE | 66,800 | $1.7M | 0.09% |
| 132 | ERASCA INC | ERAS | 1,190,012 | $1.6M | 0.09% |
| 133 | VERASTEM INC | VSTM | 270,000 | $1.6M | 0.09% |
| 134 | NIKE INC | NKE | 24,764 | $1.6M | 0.09% |
| 135 | BOLT BIOTHERAPEUTICS INC | BOLT | 3,812,773 | $1.5M | 0.08% |
| 136 | FATE THERAPEUTICS INC | FATE | 1,867,773 | $1.5M | 0.08% |
| 137 | VIATRIS INC | VTRS | 168,979 | $1.5M | 0.08% |
| 138 | PAYPAL HLDGS INC | PYPL | 22,108 | $1.4M | 0.08% |
| 139 | C4 THERAPEUTICS INC | CCCC | 900,000 | $1.4M | 0.08% |
| 140 | NEUMORA THERAPEUTICS INC | NMRA | 1,400,000 | $1.4M | 0.08% |
| 141 | ELEVATION ONCOLOGY INC | 28623U101 | 4,760,000 | $1.2M | 0.07% |
| 142 | CLIMB BIO INC | CLYM | 1,000,000 | $1.2M | 0.07% |
| 143 | NETFLIX INC | NFLX | 1,301 | $1.2M | 0.07% |
| 144 | APPLIED THERAPEUTICS INC | 03828A101 | 2,428,169 | $1.2M | 0.07% |
| 145 | ALIGOS THERAPEUTICS INC | ALGS | 141,131 | $1.2M | 0.06% |
| 146 | T-MOBILE US INC | TMUSZ | 4,328 | $1.2M | 0.06% |
| 147 | GE AEROSPACE | 369604301 | 5,675 | $1.1M | 0.06% |
| 148 | KRONOS BIO INC | 50107A104 | 1,345,413 | $1.1M | 0.06% |
| 149 | PYXIS ONCOLOGY INC COM | PYXS | 1,100,000 | $1.1M | 0.06% |
| 150 | ALLSTATE CORP | ALL-PJ | 5,112 | $1.1M | 0.06% |
| 151 | BOEING CO | BA-PA | 6,068 | $1.0M | 0.06% |
| 152 | PAYCHEX INC | PAYX | 6,688 | $1.0M | 0.06% |
| 153 | MCDONALDS CORP | MCD | 3,228 | $1.0M | 0.06% |
| 154 | AMERICAN ASSETS TRUST INC COM | AAT | 50,000 | $1.0M | 0.06% |
| 155 | AMERICAN EXPRESS CO | AXP | 3,666 | $986,309 | 0.05% |
| 156 | BEAM THERAPEUTICS INC | BEAM | 50,000 | $976,500 | 0.05% |
| 157 | ULTA BEAUTY INC | ULTA | 2,606 | $955,223 | 0.05% |
| 158 | CHEVRON CORP NEW | CVX | 5,697 | $953,059 | 0.05% |
| 159 | HORMEL FOODS CORP | HRL | 30,464 | $942,545 | 0.05% |
| 160 | AMAZON COM INC | AMZN | 4,895 | $931,276 | 0.05% |
| 161 | SHERWIN WILLIAMS CO | SHW | 2,648 | $924,589 | 0.05% |
| 162 | OPTIMIZERX CORP | OPRX | 100,000 | $866,000 | 0.05% |
| 163 | CLOROX CO DEL | CLX | 5,766 | $849,092 | 0.05% |
| 164 | UNITED AIRLS HLDGS INC | UNTCW | 11,993 | $828,083 | 0.05% |
| 165 | TSCAN THERAPEUTICS INC | TCRX | 600,000 | $828,000 | 0.05% |
| 166 | FORD MTR CO | 345370860 | 81,727 | $819,719 | 0.05% |
| 167 | GE VERNOVA INC | GEV | 2,593 | $791,721 | 0.04% |
| 168 | FEDEX CORP | FDX | 3,201 | $780,281 | 0.04% |
| 169 | SEALED AIR CORP NEW | SE | 26,946 | $778,744 | 0.04% |
| 170 | FORTREA HLDGS INC | FTRE | 100,000 | $755,000 | 0.04% |
| 171 | CAPRICOR THERAPEUTICS INC | CAPR | 79,100 | $750,659 | 0.04% |
| 172 | WHIRLPOOL CORP | WHR-PA | 8,163 | $735,760 | 0.04% |
| 173 | OMNIAB INC | OABIW | 300,000 | $720,000 | 0.04% |
| 174 | CENTESSA PHARMACEUTICALS PLC | CNTA | 50,000 | $719,000 | 0.04% |
| 175 | ENANTA PHARMACEUTICALS INC | ENTA | 126,655 | $699,136 | 0.04% |
| 176 | HEWLETT PACKARD ENTERPRISE C | HPE-PC | 44,547 | $687,355 | 0.04% |
| 177 | CORBUS PHARMACEUTICALS HLDGS | CRBP | 127,520 | $677,131 | 0.04% |
| 178 | KURA ONCOLOGY INC | KURA | 100,000 | $660,000 | 0.04% |
| 179 | PUMA BIOTECHNOLOGY INC | PBYI | 200,000 | $592,000 | 0.03% |
| 180 | ASTRIA THERAPEUTICS INC | 04635X102 | 100,000 | $534,000 | 0.03% |
| 181 | LEXICON PHARMACEUTICALS INC | LXRX | 1,150,268 | $530,043 | 0.03% |
| 182 | PASSAGE BIO INC | PASG | 1,500,000 | $529,650 | 0.03% |
| 183 | OUTLOOK THERAPEUTICS INC | OTLK | 400,000 | $488,000 | 0.03% |
| 184 | REVIVA PHARMACEUTCLS HLDGS I | 76152G100 | 510,329 | $486,752 | 0.03% |
| 185 | BIOATLA INC | BCAB | 1,374,076 | $476,530 | 0.03% |
| 186 | ATARA BIOTHERAPEUTICS INC | ATRA | 75,196 | $446,664 | 0.02% |
| 187 | STANDARD BIOTOOLS INC | LAB | 407,755 | $440,375 | 0.02% |
| 188 | CENTURY THERAPEUTICS INC | IPSC | 900,000 | $428,400 | 0.02% |
| 189 | AMYLYX PHARMACEUTICALS INC | AMLX | 100,000 | $354,000 | 0.02% |
| 190 | CASSAVA SCIENCES INC COMMON STOCK | 14817C107 | 200,000 | $300,000 | 0.02% |
| 191 | GRAIL INC | GRAL | 11,300 | $288,602 | 0.02% |
| 192 | KODIAK SCIENCES INC | KOD | 100,000 | $280,500 | 0.02% |
| 193 | MACROGENICS INC | MGNX | 218,856 | $277,947 | 0.02% |
| 194 | QUINCE THERAPEUTICS INC COMMON STOCK | QNCX | 184,383 | $245,229 | 0.01% |
| 195 | INVIVYD INC | IVVD | 400,000 | $242,120 | 0.01% |
| 196 | NEXTCURE INC | NXTC | 404,144 | $194,110 | 0.01% |
| 197 | METAGENOMI INC | MGX | 134,978 | $183,570 | 0.01% |
| 198 | AEROVATE THERAPEUTICS INC COMMON STOCK | 008064107 | 69,754 | $175,083 | 0.01% |
| 199 | ATHIRA PHARMA INC | 04746L104 | 600,000 | $170,940 | 0.01% |
| 200 | SERES THERAPEUTICS INC | MCRB | 203,904 | $142,753 | 0.01% |
| 201 | SUTRO BIOPHARMA INC | STRO | 200,000 | $130,120 | 0.01% |
| 202 | AFFIMED N V | N01045207 | 148,315 | $107,261 | 0.01% |