13F HOLDINGS REPORT
VR Adviser, LLC
Quarter ended Q3 2025 · Filed November 14, 2025 · Accession 0001615982-25-000006
Total Value
$1.78B
Positions
33
Other Managers
0
Confidential Omitted
No
Holdings (33)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | APOGEE THERAPEUTICS INC | APGE | 8,493,321 | $337.4M | 18.99% |
| 2 | METSERA INC | 59267L107 | 3,750,662 | $196.3M | 11.05% |
| 3 | OCULAR THERAPEUTIX INC | OCUL | 13,161,462 | $153.9M | 8.66% |
| 4 | CIDARA THERAPEUTICS INC | 171757206 | 946,788 | $90.7M | 5.10% |
| 5 | VIRIDIAN THERAPEUTICS INC | VRDN | 3,882,709 | $83.8M | 4.72% |
| 6 | KALVISTA PHARMACEUTICALS INC | KALV | 6,728,985 | $82.0M | 4.61% |
| 7 | ORUKA THERAPEUTICS INC | ORKA | 4,148,428 | $79.8M | 4.49% |
| 8 | ORIC PHARMACEUTICALS INC | ORIC | 6,596,885 | $79.2M | 4.46% |
| 9 | ENLIVEN THERAPEUTICS INC | ELVN | 3,226,331 | $66.0M | 3.72% |
| 10 | COGENT BIOSCIENCES INC | COGT | 4,000,000 | $57.4M | 3.23% |
| 11 | CYTOMX THERAPEUTICS INC | CTMX | 15,561,500 | $49.6M | 2.79% |
| 12 | ABIVAX SA | AAVXF | 576,729 | $49.0M | 2.76% |
| 13 | SAVARA INC | SVRA | 12,681,043 | $45.3M | 2.55% |
| 14 | SPYRE THERAPEUTICS INC | SYRE | 2,685,448 | $45.0M | 2.53% |
| 15 | ERASCA INC | ERAS | 17,857,083 | $38.9M | 2.19% |
| 16 | DIANTHUS THERAPEUTICS INC | DNTH | 960,803 | $37.8M | 2.13% |
| 17 | ENGENE HOLDINGS INC | ENGNW | 5,046,414 | $34.5M | 1.94% |
| 18 | MAZE THERAPEUTICS INC | MAZE | 1,230,769 | $31.9M | 1.80% |
| 19 | JADE BIOSCIENCES INC | JBIO | 3,220,364 | $27.8M | 1.56% |
| 20 | DYNE THERAPEUTICS INC | DYN | 2,173,913 | $27.5M | 1.55% |
| 21 | VOR BIOPHARMA INC | VOR | 499,966 | $24.4M | 1.37% |
| 22 | UPSTREAM BIO INC | UPB | 1,169,298 | $22.0M | 1.24% |
| 23 | ZURA BIO LTD | ZURA | 4,631,216 | $20.1M | 1.13% |
| 24 | ASTRIA THERAPEUTICS INC | 04635X102 | 2,457,348 | $17.9M | 1.01% |
| 25 | PHARVARIS N V | PHVS | 674,599 | $16.8M | 0.95% |
| 26 | CRESCENT BIOPHARMA INC. | CBIO | 1,387,864 | $16.5M | 0.93% |
| 27 | SEPTERNA INC | SEPN | 610,808 | $11.5M | 0.65% |
| 28 | CULLINAN THERAPEUTICS INC | CGEM | 1,379,965 | $8.2M | 0.46% |
| 29 | SURROZEN INC | SRZNW | 632,931 | $8.2M | 0.46% |
| 30 | PERCEPTIVE CAP SOLUTIONS COR | G70077105 | 750,000 | $8.0M | 0.45% |
| 31 | ARTIVA BIOTHERAPEUTICS INC | ARTV | 1,609,569 | $4.6M | 0.26% |
| 32 | TENAX THERAPEUTICS INC | TENX | 437,708 | $3.3M | 0.19% |
| 33 | CASI PHARMACEUTICALS INC | CASIF | 987,259 | $1.6M | 0.09% |