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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
13F HOLDINGS REPORT

SPHERA FUNDS MANAGEMENT LTD.

Quarter ended Q2 2025 · Filed August 14, 2025 · Accession 0001496201-25-000010

Total Value
$426.1M
Positions
111
Other Managers
2
Confidential Omitted
No
View on SEC.gov

Holdings (111)

#IssuerTicker / CUSIPSharesValue% of Filing
1TEVA PHARMACEUTICAL INDS LTD8816242091,420,990$23.8M5.59%
2NOVA LTDNVMI75,836$20.9M4.90%
3SPDR SERIES TRUST78464A870200,000$16.6M3.89%
4SYNDAX PHARMACEUTICALS INCSNDX1,571,564$14.7M3.45%
5TOWER SEMICONDUCTOR LTDTSEM264,722$11.5M2.69%
6CYTOKINETICS INCCYTK326,718$10.8M2.53%
7SANOFISNYNF219,515$10.6M2.49%
8BIOGEN INCBIIB82,738$10.4M2.44%
9ASTRAZENECA PLCAZN135,060$9.4M2.21%
10ELI LILLY & COLLY11,540$9.0M2.11%
11NVIDIA CORPORATIONNVDA54,515$8.6M2.02%
12CELLDEX THERAPEUTICS INC NEWCLDX419,540$8.5M2.00%
13NOVO-NORDISK A SNONOF105,677$7.3M1.71%
14AMAZON COM INCAMZN32,441$7.1M1.67%
15CIDARA THERAPEUTICS INC171757206138,001$6.7M1.58%
16ULTRAGENYX PHARMACEUTICAL INRARE180,600$6.6M1.54%
17ORMAT TECHNOLOGIES INCORA78,000$6.5M1.53%
18MINERALYS THERAPEUTICS INCMLYS480,974$6.5M1.53%
19FORTE BIOSCIENCES INCFBRX495,109$6.4M1.50%
20META PLATFORMS INCMETA8,526$6.3M1.48%
21JOHNSON & JOHNSONJNJ40,831$6.2M1.46%
22MOONLAKE IMMUNOTHERAPEUTICSMLTX125,000$5.9M1.38%
23MICROSOFT CORPMSFT11,792$5.9M1.38%
24AMICUS THERAPEUTICS INCFOLD990,718$5.7M1.33%
25ORMAT TECHNOLOGIES INCORA5,037,000$5.6M1.32%
26PHARVARIS N VPHVS309,931$5.5M1.28%
27ELEDON PHARMACEUTICALS INCELDN1,959,610$5.3M1.25%
28TRAVERE THERAPEUTICS INCTVTX335,333$5.0M1.16%
29ABBVIE INCABBV25,256$4.7M1.10%
30GSK PLCGLAXF122,000$4.7M1.10%
31PRAXIS PRECISION MEDICINES IPRAX109,757$4.6M1.08%
32NOVARTIS AGNVSEF37,000$4.5M1.05%
33TREVI THERAPEUTICS INCTRVI799,957$4.4M1.03%
34MAZE THERAPEUTICS INCMAZE356,453$4.4M1.03%
35ANNEXON INCANNX1,764,387$4.2M0.99%
36PRAXIS PRECISION MEDICINES IPRAX100,000$4.2M0.99%
37ISHARES TR46428743247,000$4.1M0.97%
38IMMUNOVANT INCIMVT256,743$4.1M0.96%
39ORIC PHARMACEUTICALS INCORIC394,693$4.0M0.94%
40MERCK & CO INCMRK48,600$3.8M0.90%
41ACADIA PHARMACEUTICALS INCACAD174,900$3.8M0.89%
42BRIDGEBIO PHARMA INCBBIO87,108$3.8M0.88%
43ULTRAGENYX PHARMACEUTICAL INRARE100,085$3.6M0.85%
44AVIDITY BIOSCIENCES INC05370A108126,000$3.6M0.84%
45ALPHA COGNITION INCACOG376,649$3.5M0.82%
46TEVA PHARMACEUTICAL INDS LTD881624209200,000$3.4M0.79%
47REZOLUTE INCRZLT751,447$3.4M0.79%
48CYBIN INCHELP398,309$3.3M0.78%
49APPLIED MATLS INC03822210518,000$3.3M0.77%
50ARROWHEAD PHARMACEUTICALS INARWR202,996$3.2M0.75%
51IMMATICS N.VIMTX583,105$3.1M0.74%
52SAVARA INCSVRA1,310,233$3.0M0.70%
53UBER TECHNOLOGIES INCUBER30,000$2.8M0.66%
54SAREPTA THERAPEUTICS INCSRPT159,323$2.7M0.64%
55CAMTEK LTDCAMT31,976$2.7M0.63%
56ELBIT SYS LTDESLT6,000$2.7M0.63%
57PALO ALTO NETWORKS INCPANW13,114$2.7M0.63%
58WIX COM LTDWIX16,931$2.7M0.63%
59AMGEN INCAMGN9,500$2.7M0.62%
60SOLAREDGE TECHNOLOGIES INCSEDG127,966$2.6M0.61%
61ENLIVEN THERAPEUTICS INCELVN128,515$2.6M0.60%
62SAREPTA THERAPEUTICS INCSRPT150,000$2.6M0.60%
63SKYE BIOSCIENCE INCSKYE538,434$2.3M0.53%
64BRIDGEBIO PHARMA INCBBIO49,900$2.2M0.51%
65DYNE THERAPEUTICS INCDYN221,416$2.1M0.49%
66PFIZER INCPFE86,000$2.1M0.49%
67BIOHAVEN LTDBHVN145,372$2.1M0.48%
68SCHOLAR ROCK HLDG CORPSRRK57,497$2.0M0.48%
6989BIO INC282559103205,675$2.0M0.47%
70STRUCTURE THERAPEUTICS INCGPCR95,931$2.0M0.47%
71JANUX THERAPEUTICS INCJANX85,840$2.0M0.47%
72APELLIS PHARMACEUTICALS INCAPLS114,346$2.0M0.46%
73SALESFORCE INCCRM6,800$1.9M0.44%
74ENGENE HOLDINGS INCENGNW504,409$1.8M0.43%
75CYBERARK SOFTWARE LTDM2682V1084,000$1.6M0.38%
76MARVELL TECHNOLOGY INCMRVL18,730$1.4M0.34%
77COGENT BIOSCIENCES INCCOGT200,000$1.4M0.34%
78ASTRIA THERAPEUTICS INC04635X102257,402$1.4M0.32%
79KURA ONCOLOGY INCKURA235,522$1.4M0.32%
80ISHARES BITCOIN TRUST ETFIBIT21,455$1.3M0.31%
81INTELLIA THERAPEUTICS INCNTLA128,780$1.2M0.28%
82VENTYX BIOSCIENCES INC92332V107555,814$1.2M0.28%
83ADVANCED MICRO DEVICES INCAMD8,250$1.2M0.27%
84NANO DIMENSION LTDNNDM717,518$1.2M0.27%
85DAY ONE BIOPHARMACEUTICALS IDAWN175,371$1.1M0.27%
86CEVA INCCEVA48,920$1.1M0.25%
87PERSPECTIVE THERAPEUTICS INCCATX310,343$1.1M0.25%
88COGENT BIOSCIENCES INCCOGT143,693$1.0M0.24%
89KRYSTAL BIOTECH INCKRYS7,335$1.0M0.24%
90TAYSHA GENE THERAPIES INCTSHA420,000$970,2000.23%
91PROMIS NEUROSCIENCES INCPMN1,899,297$918,8800.22%
92VISTAGEN THERAPEUTICS INCVTGN447,939$895,8780.21%
93CHEMOMAB THERAPEUTICS LTDCMMB738,048$856,1360.20%
94BRISTOL-MYERS SQUIBB COCELG-RI17,500$810,0750.19%
95CORVUS PHARMACEUTICALS INCCRVS183,094$732,3760.17%
96WEREWOLF THERAPEUTICS INCHOWL626,810$683,2230.16%
97VERASTEM INCVSTM163,307$677,7240.16%
98BICARA THERAPEUTICS INCBCAX65,679$610,1580.14%
99LARIMAR THERAPEUTICS INCLRMR196,635$568,2750.13%
100SENTINELONE INCS27,000$493,5600.12%
101APREA THERAPEUTICS INCAPRE270,000$456,3000.11%
102COGNYTE SOFTWARE LTDCGNT45,181$417,4720.10%
103KEZAR LIFE SCIENCES INCKZR58,539$268,1090.06%
104CLIMB BIO INCCLYM209,837$260,1980.06%
105SOLID BIOSCIENCES INCSLDB50,190$244,4250.06%
106PEPGEN INCPEPG156,467$173,6780.04%
107ONKURE THERAPEUTICS INCOKUR60,454$144,4850.03%
108ELEVATION ONCOLOGY INC28623U101328,562$120,6150.03%
109ELEDON PHARMACEUTICALS INCELDN31,200$84,5520.02%
110JASPER THERAPEUTICS INCJSPRW14,671$81,4240.02%
111APPLIED THERAPEUTICS INC03828A10150,000$15,5550.00%