13F HOLDINGS REPORT
SPHERA FUNDS MANAGEMENT LTD.
Quarter ended Q4 2025 · Filed February 17, 2026 · Accession 0001496201-26-000002
Total Value
$517.3M
Positions
100
Other Managers
2
Confidential Omitted
No
Holdings (100)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | TEVA PHARMACEUTICAL INDS LTD | 881624209 | 998,525 | $31.2M | 6.02% |
| 2 | BIOGEN INC | BIIB | 94,738 | $16.7M | 3.22% |
| 3 | MINERALYS THERAPEUTICS INC | MLYS | 449,003 | $16.3M | 3.15% |
| 4 | SYNDAX PHARMACEUTICALS INC | SNDX | 762,563 | $16.0M | 3.10% |
| 5 | NOVA LTD | NVMI | 47,846 | $15.7M | 3.04% |
| 6 | TOWER SEMICONDUCTOR LTD | TSEM | 122,513 | $14.4M | 2.78% |
| 7 | COGENT BIOSCIENCES INC | COGT | 378,500 | $13.4M | 2.60% |
| 8 | ASTRAZENECA PLC | AZN | 135,060 | $12.4M | 2.40% |
| 9 | PRAXIS PRECISION MEDICINES I | PRAX | 40,000 | $11.8M | 2.28% |
| 10 | SANOFI SA | SNYNF | 239,515 | $11.6M | 2.24% |
| 11 | ELI LILLY & CO | LLY | 9,040 | $9.7M | 1.88% |
| 12 | AMICUS THERAPEUTICS INC | FOLD | 658,377 | $9.4M | 1.81% |
| 13 | IMMATICS N.V | IMTX | 861,105 | $9.0M | 1.75% |
| 14 | BIOMARIN PHARMACEUTICAL INC | BMRN | 147,000 | $8.7M | 1.69% |
| 15 | SPDR SERIES TRUST | 78464A870 | 70,000 | $8.5M | 1.65% |
| 16 | BRIDGEBIO PHARMA INC | BBIO | 107,746 | $8.2M | 1.59% |
| 17 | ORIC PHARMACEUTICALS INC | ORIC | 1,004,378 | $8.2M | 1.59% |
| 18 | ULTRAGENYX PHARMACEUTICAL IN | RARE | 350,000 | $8.1M | 1.56% |
| 19 | DYNE THERAPEUTICS INC | DYN | 392,894 | $7.7M | 1.49% |
| 20 | TREVI THERAPEUTICS INC | TRVI | 598,534 | $7.5M | 1.45% |
| 21 | JOHNSON & JOHNSON | JNJ | 35,831 | $7.4M | 1.43% |
| 22 | SAVARA INC | SVRA | 1,178,164 | $7.1M | 1.37% |
| 23 | SCHOLAR ROCK HLDG CORP | SRRK | 158,265 | $7.0M | 1.35% |
| 24 | WAVE LIFE SCIENCES LTD | WVE | 408,166 | $6.9M | 1.34% |
| 25 | ULTRAGENYX PHARMACEUTICAL IN | RARE | 300,623 | $6.9M | 1.34% |
| 26 | CYBIN INC | HELP | 825,576 | $6.8M | 1.31% |
| 27 | ANNEXON INC | ANNX | 1,316,212 | $6.6M | 1.28% |
| 28 | BIOCRYST PHARMACEUTICALS INC | BCRX | 837,889 | $6.5M | 1.26% |
| 29 | CELLDEX THERAPEUTICS INC NEW | CLDX | 239,764 | $6.5M | 1.26% |
| 30 | SOLENO THERAPEUTICS INC | SLNO | 136,314 | $6.3M | 1.22% |
| 31 | APELLIS PHARMACEUTICALS INC | APLS | 250,961 | $6.3M | 1.22% |
| 32 | NICE LTD | NCSYF | 55,700 | $6.3M | 1.22% |
| 33 | GSK PLC | GLAXF | 122,000 | $6.0M | 1.16% |
| 34 | ENPHASE ENERGY INC | ENPH | 186,500 | $6.0M | 1.16% |
| 35 | NOVO-NORDISK A S | NONOF | 115,677 | $5.9M | 1.14% |
| 36 | CYTOKINETICS INC | CYTK | 91,717 | $5.8M | 1.13% |
| 37 | ABBVIE INC | ABBV | 25,256 | $5.8M | 1.12% |
| 38 | SOLAREDGE TECHNOLOGIES INC | SEDG | 196,536 | $5.7M | 1.10% |
| 39 | ACADIA PHARMACEUTICALS INC | ACAD | 212,202 | $5.7M | 1.10% |
| 40 | VOR BIOPHARMA INC | VOR | 410,417 | $5.4M | 1.04% |
| 41 | MERCK & CO INC | MRK | 48,600 | $5.1M | 0.99% |
| 42 | NOVARTIS AG | NVSEF | 37,000 | $5.1M | 0.99% |
| 43 | FORTE BIOSCIENCES INC | FBRX | 185,869 | $5.1M | 0.98% |
| 44 | KODIAK SCIENCES INC | KOD | 175,500 | $4.9M | 0.95% |
| 45 | TANGO THERAPEUTICS INC | TNGX | 544,563 | $4.8M | 0.93% |
| 46 | SOLAREDGE TECHNOLOGIES INC | SEDG | 4,000,000 | $4.7M | 0.91% |
| 47 | ASTRIA THERAPEUTICS INC | 04635X102 | 355,725 | $4.7M | 0.90% |
| 48 | MEDIWOUND LTD | MDWD | 230,347 | $4.3M | 0.82% |
| 49 | CAMTEK LTD | CAMT | 39,498 | $4.2M | 0.81% |
| 50 | REVOLUTION MEDICINES INC | RVMDW | 52,500 | $4.2M | 0.81% |
| 51 | ISHARES TR | 464287432 | 47,000 | $4.1M | 0.79% |
| 52 | TEVA PHARMACEUTICAL INDS LTD | 881624209 | 125,000 | $3.9M | 0.75% |
| 53 | ADVANCED MICRO DEVICES INC | AMD | 18,040 | $3.9M | 0.75% |
| 54 | CLIMB BIO INC | CLYM | 932,247 | $3.7M | 0.72% |
| 55 | ALPHA COGNITION INC | ACOG | 567,616 | $3.7M | 0.71% |
| 56 | ENLIVEN THERAPEUTICS INC | ELVN | 226,765 | $3.5M | 0.68% |
| 57 | PROTARA THERAPEUTICS INC | TARA | 650,000 | $3.5M | 0.67% |
| 58 | BROADCOM INC | AVGO | 9,755 | $3.4M | 0.65% |
| 59 | ELEDON PHARMACEUTICALS INC | ELDN | 2,132,131 | $3.2M | 0.62% |
| 60 | BIOAGE LABS INC | BIOA | 243,035 | $3.2M | 0.62% |
| 61 | CORVUS PHARMACEUTICALS INC | CRVS | 407,709 | $3.1M | 0.61% |
| 62 | ELBIT SYS LTD | ESLT | 5,340 | $3.1M | 0.60% |
| 63 | KURA ONCOLOGY INC | KURA | 295,522 | $3.1M | 0.59% |
| 64 | MAZE THERAPEUTICS INC | MAZE | 71,843 | $3.0M | 0.58% |
| 65 | ZIM INTEGRATED SHIPPING SERV | ZIM | 136,005 | $2.9M | 0.56% |
| 66 | STRUCTURE THERAPEUTICS INC | GPCR | 41,000 | $2.9M | 0.55% |
| 67 | EVOMMUNE INC | EVMN | 166,147 | $2.8M | 0.55% |
| 68 | VERASTEM INC | VSTM | 343,678 | $2.7M | 0.51% |
| 69 | AMGEN INC | AMGN | 7,500 | $2.5M | 0.47% |
| 70 | NURIX THERAPEUTICS INC | NRIX | 124,000 | $2.4M | 0.45% |
| 71 | ASCENDIS PHARMA A/S | ASND | 11,000 | $2.3M | 0.45% |
| 72 | TENAX THERAPEUTICS INC | TENX | 190,111 | $2.3M | 0.45% |
| 73 | JANUX THERAPEUTICS INC | JANX | 157,840 | $2.2M | 0.42% |
| 74 | PFIZER INC | PFE | 86,000 | $2.1M | 0.41% |
| 75 | TAYSHA GENE THERAPIES INC | TSHA | 368,146 | $2.0M | 0.39% |
| 76 | CONTINEUM THERAPEUTICS INC | CTNM | 173,475 | $2.0M | 0.38% |
| 77 | MADRIGAL PHARMACEUTICALS INC | MDGL | 3,300 | $1.9M | 0.37% |
| 78 | PHARVARIS N V | PHVS | 63,953 | $1.8M | 0.34% |
| 79 | VARONIS SYS INC | VRNS | 52,500 | $1.7M | 0.33% |
| 80 | PRECISION BIOSCIENCES INC | DTIL | 396,116 | $1.6M | 0.32% |
| 81 | VENTYX BIOSCIENCES INC | 92332V107 | 180,114 | $1.6M | 0.31% |
| 82 | ISHARES BITCOIN TRUST ETF | IBIT | 30,055 | $1.5M | 0.29% |
| 83 | DAY ONE BIOPHARMACEUTICALS I | DAWN | 145,371 | $1.4M | 0.26% |
| 84 | VOYAGER THERAPEUTICS INC | VYGR | 339,761 | $1.3M | 0.26% |
| 85 | ENTRADA THERAPEUTICS INC | TRDA | 110,942 | $1.1M | 0.22% |
| 86 | TENAYA THERAPEUTICS INC | TNYA | 1,500,000 | $1.1M | 0.21% |
| 87 | PERSPECTIVE THERAPEUTICS INC | CATX | 349,973 | $962,426 | 0.19% |
| 88 | BRISTOL-MYERS SQUIBB CO | CELG-RI | 17,500 | $943,950 | 0.18% |
| 89 | JASPER THERAPEUTICS INC | JSPRW | 485,401 | $888,284 | 0.17% |
| 90 | PEPGEN INC | PEPG | 121,467 | $790,750 | 0.15% |
| 91 | SHATTUCK LABS INC | STTK | 195,212 | $712,524 | 0.14% |
| 92 | PALISADE BIO INC | PALI | 184,100 | $432,635 | 0.08% |
| 93 | WEREWOLF THERAPEUTICS INC | HOWL | 626,810 | $397,084 | 0.08% |
| 94 | SKYE BIOSCIENCE INC | SKYE | 478,928 | $359,052 | 0.07% |
| 95 | PRELUDE THERAPEUTICS INC | PRLD | 122,752 | $355,981 | 0.07% |
| 96 | APREA THERAPEUTICS INC | APRE | 270,000 | $230,310 | 0.04% |
| 97 | ONKURE THERAPEUTICS INC | OKUR | 60,454 | $175,317 | 0.03% |
| 98 | MEREO BIOPHARMA GROUP PLC | MREO | 255,400 | $106,425 | 0.02% |
| 99 | PROMIS NEUROSCIENCES INC | PMN | 11,807 | $80,586 | 0.02% |
| 100 | APPLIED THERAPEUTICS INC | 03828A101 | 50,000 | $5,000 | 0.00% |