13F HOLDINGS REPORT
Velan Capital Investment Management LP
Quarter ended Q3 2025 · Filed November 14, 2025 · Accession 0001848809-25-000008
Total Value
$106.5M
Positions
51
Other Managers
0
Confidential Omitted
No
Holdings (51)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | HERON THERAPEUTICS INC | HRTX | 8,753,290 | $11.0M | 10.36% |
| 2 | CIDARA THERAPEUTICS INC | 171757206 | 108,404 | $10.4M | 9.75% |
| 3 | PROTARA THERAPEUTICS INC | TARA | 2,139,000 | $9.3M | 8.74% |
| 4 | REZOLUTE INC | RZLT | 750,000 | $7.0M | 6.62% |
| 5 | PRAXIS PRECISION MEDICINES I | PRAX | 132,805 | $7.0M | 6.61% |
| 6 | MINERALYS THERAPEUTICS INC | MLYS | 175,600 | $6.7M | 6.25% |
| 7 | JASPER THERAPEUTICS INC | JSPRW | 2,423,067 | $5.6M | 5.28% |
| 8 | ABIVAX SA | AAVXF | 64,389 | $5.5M | 5.13% |
| 9 | INSPIREMD INC | NSPR | 2,143,698 | $5.2M | 4.85% |
| 10 | ZOOZ PWR LTD | ZOOZW | 2,000,000 | $4.3M | 4.02% |
| 11 | ALUMIS INC | ALMS | 946,683 | $3.8M | 3.55% |
| 12 | LANTHEUS HLDGS INC | LNTH | 73,545 | $3.8M | 3.54% |
| 13 | AVALO THERAPEUTICS INC | AVTX | 263,642 | $3.4M | 3.15% |
| 14 | SUTRO BIOPHARMA INC | STRO | 3,120,000 | $2.7M | 2.54% |
| 15 | EUPRAXIA PHARMACEUTICALS INC | EPRX | 352,000 | $2.1M | 1.95% |
| 16 | RAPT THERAPEUTICS INC | 75382E208 | 79,977 | $2.1M | 1.94% |
| 17 | SYNDAX PHARMACEUTICALS INC | SNDX | 130,000 | $2.0M | 1.88% |
| 18 | TREVI THERAPEUTICS INC | TRVI | 205,000 | $1.9M | 1.76% |
| 19 | UNIQURE NV | QURE | 32,000 | $1.9M | 1.75% |
| 20 | VIRIDIAN THERAPEUTICS INC | VRDN | 86,500 | $1.9M | 1.75% |
| 21 | TELA BIO INC | TELA | 747,410 | $1.1M | 1.05% |
| 22 | EDESA BIOTECH INC | EDSA | 437,500 | $1.1M | 1.02% |
| 23 | ELEDON PHARMACEUTICALS INC | ELDN | 346,973 | $898,660 | 0.84% |
| 24 | CORBUS PHARMACEUTICALS HLDGS | CRBP | 61,000 | $771,650 | 0.72% |
| 25 | TENAX THERAPEUTICS INC | TENX | 83,333 | $634,164 | 0.60% |
| 26 | EDESA BIOTECH INC | EDSA | 250,000 | $617,500 | 0.58% |
| 27 | JASPER THERAPEUTICS INC | JSPRW | 245,328 | $583,881 | 0.55% |
| 28 | TOURMALINE BIO INC | 89157D105 | 5,800 | $277,414 | 0.26% |
| 29 | CYTOMX THERAPEUTICS INC | CTMX | 80,000 | $255,200 | 0.24% |
| 30 | PROTAGONIST THERAPEUTICS INC | PTGX | 3,700 | $245,791 | 0.23% |
| 31 | ARROWHEAD PHARMACEUTICALS IN | ARWR | 6,500 | $224,185 | 0.21% |
| 32 | OVID THERAPEUTICS INC | OVID | 160,000 | $208,000 | 0.20% |
| 33 | GOSSAMER BIO INC | GOSS | 70,000 | $184,100 | 0.17% |
| 34 | ALECTOR INC | ALEC | 55,000 | $162,800 | 0.15% |
| 35 | DESIGN THERAPEUTICS INC | DSGN | 20,000 | $150,600 | 0.14% |
| 36 | TERNS PHARMACEUTICALS INC | TERN | 20,000 | $150,200 | 0.14% |
| 37 | NURIX THERAPEUTICS INC | NRIX | 16,000 | $147,840 | 0.14% |
| 38 | ERASCA INC | ERAS | 65,000 | $141,700 | 0.13% |
| 39 | VENTYX BIOSCIENCES INC | 92332V107 | 40,000 | $124,400 | 0.12% |
| 40 | PYXIS ONCOLOGY INC | PYXS | 55,000 | $122,100 | 0.11% |
| 41 | IMMUNOME INC | IMNM | 10,000 | $117,100 | 0.11% |
| 42 | PRECISION BIOSCIENCES INC | DTIL | 20,000 | $110,400 | 0.10% |
| 43 | WAVE LIFE SCIENCES LTD | WVE | 15,000 | $109,800 | 0.10% |
| 44 | GERON CORP | GERN | 80,000 | $109,600 | 0.10% |
| 45 | LARIMAR THERAPEUTICS INC | LRMR | 33,000 | $106,590 | 0.10% |
| 46 | CONTEXT THERAPEUTICS INC | CNTX | 100,000 | $96,880 | 0.09% |
| 47 | PROQR THRAPEUTICS N V | N71542109 | 45,000 | $95,850 | 0.09% |
| 48 | REPLIMUNE GROUP INC | REPL | 20,000 | $83,800 | 0.08% |
| 49 | IMMIX BIOPHARMA INC | IMMX | 35,000 | $73,150 | 0.07% |
| 50 | ACLARIS THERAPEUTICS INC | ACRS | 32,700 | $62,130 | 0.06% |
| 51 | PMV PHARMACEUTICALS INC | PMVP | 35,000 | $49,000 | 0.05% |