13F HOLDINGS REPORT
ADAR1 Capital Management, LLC
Quarter ended Q2 2025 · Filed August 14, 2025 · Accession 0001940272-25-000005
Total Value
$652.1M
Positions
210
Other Managers
0
Confidential Omitted
No
Holdings (210)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | KEROS THERAPEUTICS INC | KROS | 5,389,264 | $71.9M | 11.03% |
| 2 | PROTAGONIST THERAPEUTICS INC | PTGX | 948,069 | $52.4M | 8.04% |
| 3 | EA SERIES TRUST | 02072L565 | 337,125 | $38.0M | 5.83% |
| 4 | ZAI LAB LTD | ZLAB | 850,437 | $29.7M | 4.56% |
| 5 | SPDR S&P 500 ETF TR | SPY | 40,500 | $25.0M | 3.84% |
| 6 | ABIVAX SA | AAVXF | 3,071,340 | $23.5M | 3.60% |
| 7 | ROIVANT SCIENCES LTD | ROIV | 1,940,797 | $21.9M | 3.35% |
| 8 | PROTHENA CORP PLC | PRTA | 3,375,009 | $20.5M | 3.14% |
| 9 | CYTOKINETICS INC | CYTK | 582,147 | $19.2M | 2.95% |
| 10 | SPDR S&P 500 ETF TR | SPY | 22,684 | $14.0M | 2.15% |
| 11 | CG ONCOLOGY INC | CGON | 523,216 | $13.6M | 2.09% |
| 12 | SPDR SERIES TRUST | 78468R663 | 135,585 | $12.4M | 1.91% |
| 13 | BRIDGEBIO PHARMA INC | BBIO | 259,659 | $11.2M | 1.72% |
| 14 | INHIBIKASE THERAPEUTICS INC | IKT | 5,122,105 | $10.0M | 1.53% |
| 15 | SEPTERNA INC | SEPN | 847,227 | $9.0M | 1.37% |
| 16 | ARBUTUS BIOPHARMA CORP | ABUS | 2,825,773 | $8.7M | 1.34% |
| 17 | 89BIO INC | 282559103 | 875,983 | $8.6M | 1.32% |
| 18 | IMMUNOVANT INC | IMVT | 535,066 | $8.6M | 1.31% |
| 19 | SAVARA INC | SVRA | 3,600,670 | $8.2M | 1.26% |
| 20 | XENON PHARMACEUTICALS INC | XENE | 259,503 | $8.1M | 1.25% |
| 21 | BIOAGE LABS INC | BIOA | 1,937,123 | $8.0M | 1.23% |
| 22 | PERCEPTIVE CAP SOLUTIONS COR | G70077105 | 750,000 | $8.0M | 1.22% |
| 23 | AMYLYX PHARMACEUTICALS INC | AMLX | 1,205,101 | $7.7M | 1.18% |
| 24 | CYTOMX THERAPEUTICS INC | CTMX | 3,081,414 | $7.0M | 1.07% |
| 25 | TAYSHA GENE THERAPIES INC | TSHA | 3,009,870 | $7.0M | 1.07% |
| 26 | SAGE THERAPEUTICS INC | 78667J108 | 721,599 | $6.6M | 1.01% |
| 27 | RAPT THERAPEUTICS INC | 75382E208 | 783,217 | $6.3M | 0.96% |
| 28 | JANUX THERAPEUTICS INC | JANX | 264,900 | $6.1M | 0.94% |
| 29 | AA MISSION ACQUISITION CORP | YCY-WT | 578,359 | $6.0M | 0.92% |
| 30 | IONIS PHARMACEUTICALS INC | IONS | 148,461 | $5.9M | 0.90% |
| 31 | TEVA PHARMACEUTICAL INDS LTD | 881624209 | 345,878 | $5.8M | 0.89% |
| 32 | OAKTREE ACQUISITION CORP III | OACCW | 516,482 | $5.5M | 0.84% |
| 33 | VERVE THERAPEUTICS INC | 92539P101 | 469,018 | $5.3M | 0.81% |
| 34 | REVOLUTION MEDICINES INC | RVMDW | 134,136 | $4.9M | 0.76% |
| 35 | HELIX ACQUISITION CORP II | HLXC | 442,615 | $4.7M | 0.72% |
| 36 | ISHARES TR | 464287457 | 53,337 | $4.4M | 0.68% |
| 37 | REZOLUTE INC | RZLT | 989,297 | $4.4M | 0.68% |
| 38 | BRIDGEBIO PHARMA INC | BBIO | 4,500,000 | $4.2M | 0.64% |
| 39 | MINERALYS THERAPEUTICS INC | MLYS | 302,125 | $4.1M | 0.63% |
| 40 | CENTESSA PHARMACEUTICALS PLC | CNTA | 296,766 | $3.9M | 0.60% |
| 41 | MONOPAR THERAPEUTICS INC | MNPR | 100,974 | $3.6M | 0.55% |
| 42 | SAREPTA THERAPEUTICS INC | SRPT | 210,313 | $3.6M | 0.55% |
| 43 | ARDELYX INC | ARDX | 915,130 | $3.6M | 0.55% |
| 44 | THIRD HARMONIC BIO INC | 88427A107 | 622,873 | $3.4M | 0.52% |
| 45 | VAXCYTE INC | PCVX | 98,032 | $3.2M | 0.49% |
| 46 | RHYTHM PHARMACEUTICALS INC | RYTM | 45,390 | $2.9M | 0.44% |
| 47 | VERONA PHARMA PLC | 925050106 | 28,450 | $2.7M | 0.41% |
| 48 | BRIDGEBIO PHARMA INC | BBIO | 2,000,000 | $2.5M | 0.38% |
| 49 | ALECTOR INC | ALEC | 1,723,526 | $2.4M | 0.37% |
| 50 | VIRIDIAN THERAPEUTICS INC | VRDN | 170,598 | $2.4M | 0.37% |
| 51 | A SPAC III ACQUISITION CORP | G0544A103 | 215,000 | $2.2M | 0.34% |
| 52 | CORMEDIX INC | CRMD | 175,000 | $2.2M | 0.33% |
| 53 | SUMMIT THERAPEUTICS INC | SMMT | 100,000 | $2.1M | 0.33% |
| 54 | NEWAMSTERDAM PHARMA COMPANY | NAMSW | 112,359 | $2.0M | 0.31% |
| 55 | DELCATH SYS INC | DCTH | 149,385 | $2.0M | 0.31% |
| 56 | ANTERIS TECHNOLOGIES GLOBAL | AVR | 531,515 | $2.0M | 0.31% |
| 57 | BLUEPRINT MEDICINES CORP | 09627Y109 | 15,000 | $1.9M | 0.29% |
| 58 | VIKING THERAPEUTICS INC | VKTX | 67,813 | $1.8M | 0.28% |
| 59 | AKERO THERAPEUTICS INC | 00973Y108 | 33,143 | $1.8M | 0.27% |
| 60 | REGENERON PHARMACEUTICALS | REGN | 3,361 | $1.8M | 0.27% |
| 61 | REGENXBIO INC | RGNX | 207,818 | $1.7M | 0.26% |
| 62 | DYNAVAX TECHNOLOGIES CORP | 268158201 | 170,000 | $1.7M | 0.26% |
| 63 | MOONLAKE IMMUNOTHERAPEUTICS | MLTX | 34,314 | $1.6M | 0.25% |
| 64 | ORUKA THERAPEUTICS INC | ORKA | 142,780 | $1.6M | 0.25% |
| 65 | KINIKSA PHARMACEUTICALS INTL | G52694109 | 56,540 | $1.6M | 0.24% |
| 66 | CRINETICS PHARMACEUTICALS IN | CRNX | 53,125 | $1.5M | 0.23% |
| 67 | TECTONIC THERAPEUTIC INC | TECX | 73,505 | $1.5M | 0.22% |
| 68 | SOLENO THERAPEUTICS INC | SLNO | 17,330 | $1.5M | 0.22% |
| 69 | JANUX THERAPEUTICS INC | JANX | 62,088 | $1.4M | 0.22% |
| 70 | SCHOLAR ROCK HLDG CORP | SRRK | 39,677 | $1.4M | 0.22% |
| 71 | ASTRIA THERAPEUTICS INC | 04635X102 | 249,646 | $1.3M | 0.21% |
| 72 | ALKERMES PLC | ALKS | 45,000 | $1.3M | 0.20% |
| 73 | VIR BIOTECHNOLOGY INC | VIR | 250,000 | $1.3M | 0.19% |
| 74 | AGIOS PHARMACEUTICALS INC | AGIO | 35,900 | $1.2M | 0.18% |
| 75 | CELLDEX THERAPEUTICS INC NEW | CLDX | 57,466 | $1.2M | 0.18% |
| 76 | SPRINGWORKS THERAPEUTICS INC | 85205L107 | 24,082 | $1.1M | 0.17% |
| 77 | ESTABLISHMENT LABS HLDGS INC | ESTA | 25,000 | $1.1M | 0.16% |
| 78 | ACUMEN PHARMACEUTICALS INC | ABOS | 916,183 | $1.1M | 0.16% |
| 79 | CIDARA THERAPEUTICS INC | 171757206 | 21,522 | $1.0M | 0.16% |
| 80 | ZURA BIO LTD | ZURA | 997,547 | $1.0M | 0.16% |
| 81 | BEST SPAC I ACQUISITION CORP | BSAAU | 100,000 | $1.0M | 0.15% |
| 82 | ARGENX SE | ARGX | 1,759 | $969,596 | 0.15% |
| 83 | MERUS N V | N5749R100 | 18,313 | $963,264 | 0.15% |
| 84 | ALDEYRA THERAPEUTICS INC | ALDX | 249,920 | $957,194 | 0.15% |
| 85 | PFIZER INC | PFE | 39,400 | $955,056 | 0.15% |
| 86 | ARVINAS INC | ARVN | 128,767 | $947,725 | 0.15% |
| 87 | SAREPTA THERAPEUTICS INC | SRPT | 55,000 | $940,500 | 0.14% |
| 88 | ARCELLX INC | ACLX | 13,962 | $919,398 | 0.14% |
| 89 | NEKTAR THERAPEUTICS | NKTR | 35,000 | $904,400 | 0.14% |
| 90 | NUVALENT INC | NUVL | 11,842 | $903,545 | 0.14% |
| 91 | TENAX THERAPEUTICS INC | TENX | 155,557 | $896,008 | 0.14% |
| 92 | SURGERY PARTNERS INC | SGRY | 40,000 | $889,200 | 0.14% |
| 93 | ARROWHEAD PHARMACEUTICALS IN | ARWR | 55,200 | $872,160 | 0.13% |
| 94 | KORRO BIO INC | KRRO | 68,815 | $859,499 | 0.13% |
| 95 | KEEN VISION ACQUISITION CORP | KVACW | 75,000 | $852,750 | 0.13% |
| 96 | VISTAGEN THERAPEUTICS INC | VTGN | 420,765 | $841,530 | 0.13% |
| 97 | APOGEE THERAPEUTICS INC | APGE | 18,070 | $784,780 | 0.12% |
| 98 | WAVE LIFE SCIENCES LTD | WVE | 114,814 | $746,291 | 0.11% |
| 99 | KALA BIO INC | KALA | 149,830 | $713,191 | 0.11% |
| 100 | LARIMAR THERAPEUTICS INC | LRMR | 237,605 | $686,678 | 0.11% |
| 101 | ROCKET PHARMACEUTICALS INC | RCKTW | 275,800 | $675,710 | 0.10% |
| 102 | KEZAR LIFE SCIENCES INC | KZR | 147,404 | $675,110 | 0.10% |
| 103 | XENCOR INC | XNCR | 85,826 | $674,592 | 0.10% |
| 104 | CONTINEUM THERAPEUTICS INC | CTNM | 166,799 | $662,192 | 0.10% |
| 105 | BIOGEN INC | BIIB | 5,100 | $640,509 | 0.10% |
| 106 | GERON CORP | GERN | 441,176 | $622,058 | 0.10% |
| 107 | PHATHOM PHARMACEUTICALS INC | PHAT | 63,424 | $608,236 | 0.09% |
| 108 | PHARVARIS N V | PHVS | 34,124 | $600,582 | 0.09% |
| 109 | LEXEO THERAPEUTICS INC | LXEO | 145,109 | $583,338 | 0.09% |
| 110 | KYMERA THERAPEUTICS INC | KYMR | 13,366 | $583,292 | 0.09% |
| 111 | OMNIAB INC | OABIW | 326,108 | $567,428 | 0.09% |
| 112 | MERCK & CO INC | MRK | 7,040 | $557,286 | 0.09% |
| 113 | PULMONX CORP | LUNG | 204,497 | $529,647 | 0.08% |
| 114 | GRACE THERAPEUTICS INC | GRCE | 176,627 | $524,582 | 0.08% |
| 115 | EDGEWISE THERAPEUTICS INC | EWTX | 40,000 | $524,400 | 0.08% |
| 116 | AVALO THERAPEUTICS INC | AVTX | 104,730 | $522,603 | 0.08% |
| 117 | SPYRE THERAPEUTICS INC | SYRE | 34,051 | $509,743 | 0.08% |
| 118 | WISDOMTREE TR | WT | 10,000 | $503,100 | 0.08% |
| 119 | DENALI THERAPEUTICS INC | DNLI | 35,716 | $499,667 | 0.08% |
| 120 | SANOFI | SNYNF | 10,000 | $483,100 | 0.07% |
| 121 | KIORA PHARMACEUTICALS INC | KPHMW | 167,111 | $481,280 | 0.07% |
| 122 | BIOHAVEN LTD | BHVN | 32,341 | $456,332 | 0.07% |
| 123 | NEUROGENE INC | NGNE | 29,625 | $442,894 | 0.07% |
| 124 | NABORS ENERGY TRANSITION COR | G6363K106 | 39,900 | $442,890 | 0.07% |
| 125 | NATERA INC | NTRA | 2,500 | $422,350 | 0.06% |
| 126 | SPERO THERAPEUTICS INC | SPRO | 143,917 | $417,359 | 0.06% |
| 127 | NEKTAR THERAPEUTICS | NKTR | 15,796 | $408,169 | 0.06% |
| 128 | ELI LILLY & CO | LLY | 500 | $389,765 | 0.06% |
| 129 | PROTARA THERAPEUTICS INC | TARA | 122,690 | $371,751 | 0.06% |
| 130 | FULCRUM THERAPEUTICS INC | FULC | 53,349 | $367,041 | 0.06% |
| 131 | POLYPID LTD | PYPD | 103,950 | $366,944 | 0.06% |
| 132 | VENTYX BIOSCIENCES INC | 92332V107 | 168,600 | $360,804 | 0.06% |
| 133 | NURIX THERAPEUTICS INC | NRIX | 31,200 | $355,368 | 0.05% |
| 134 | BIOHAVEN LTD | BHVN | 25,000 | $352,750 | 0.05% |
| 135 | MADRIGAL PHARMACEUTICALS INC | MDGL | 1,054 | $318,983 | 0.05% |
| 136 | STRUCTURE THERAPEUTICS INC | GPCR | 15,000 | $311,100 | 0.05% |
| 137 | STOKE THERAPEUTICS INC | STOK | 27,285 | $309,685 | 0.05% |
| 138 | INMUNE BIO INC | INMB | 130,200 | $300,762 | 0.05% |
| 139 | APELLIS PHARMACEUTICALS INC | APLS | 17,000 | $294,270 | 0.05% |
| 140 | AGRICULTURE & NAT SOL ACQ CO | G0131Y100 | 27,062 | $293,623 | 0.05% |
| 141 | JAZZ PHARMACEUTICALS PLC | JAZZ | 2,750 | $291,830 | 0.04% |
| 142 | GOSSAMER BIO INC | GOSS | 227,228 | $279,490 | 0.04% |
| 143 | BIOMARIN PHARMACEUTICAL INC | BMRN | 4,900 | $269,353 | 0.04% |
| 144 | ITEOS THERAPEUTICS INC | 46565G104 | 26,937 | $268,562 | 0.04% |
| 145 | IRON HORSE ACQUISITIONS CORP | UCFIW | 25,000 | $258,125 | 0.04% |
| 146 | SUMMIT THERAPEUTICS INC | SMMT | 12,000 | $255,360 | 0.04% |
| 147 | ATYR PHARMA INC | ATYR | 50,000 | $253,500 | 0.04% |
| 148 | VOYAGER THERAPEUTICS INC | VYGR | 79,945 | $248,629 | 0.04% |
| 149 | THERAPEUTICSMD INC | TXMD | 209,210 | $242,684 | 0.04% |
| 150 | ASCENDIS PHARMA A/S | ASND | 1,402 | $241,985 | 0.04% |
| 151 | QUINCE THERAPEUTICS INC | QNCX | 142,958 | $235,881 | 0.04% |
| 152 | CONTEXT THERAPEUTICS INC | CNTX | 351,094 | $230,037 | 0.04% |
| 153 | DYNE THERAPEUTICS INC | DYN | 23,063 | $219,560 | 0.03% |
| 154 | BICARA THERAPEUTICS INC | BCAX | 22,875 | $212,509 | 0.03% |
| 155 | KURA ONCOLOGY INC | KURA | 34,300 | $197,911 | 0.03% |
| 156 | DYNE THERAPEUTICS INC | DYN | 20,000 | $190,400 | 0.03% |
| 157 | DAY ONE BIOPHARMACEUTICALS I | DAWN | 28,023 | $182,150 | 0.03% |
| 158 | RECURSION PHARMACEUTICALS IN | RXRX | 35,000 | $177,100 | 0.03% |
| 159 | TREVI THERAPEUTICS INC | TRVI | 30,000 | $164,100 | 0.03% |
| 160 | COLOMBIER ACQUISITION CORP I | CLBR-WT | 10,000 | $154,600 | 0.02% |
| 161 | ANAVEX LIFE SCIENCES CORP | AVXL | 16,221 | $149,558 | 0.02% |
| 162 | INOZYME PHARMA INC | 45790W108 | 37,161 | $148,644 | 0.02% |
| 163 | CLIMB BIO INC | CLYM | 119,320 | $147,957 | 0.02% |
| 164 | DESIGN THERAPEUTICS INC | DSGN | 42,408 | $142,915 | 0.02% |
| 165 | UROGEN PHARMA LTD | URGN | 10,000 | $137,000 | 0.02% |
| 166 | BIOMX INC | PHGE | 299,598 | $134,819 | 0.02% |
| 167 | CLOVER HEALTH INVESTMENTS CO | CLOV | 48,300 | $134,757 | 0.02% |
| 168 | AVANTOR INC | AVTR | 10,000 | $134,600 | 0.02% |
| 169 | PROCAP ACQUISITION CORP | PCAPW | 10,680 | $114,490 | 0.02% |
| 170 | ALUMIS INC | ALMS | 37,788 | $113,364 | 0.02% |
| 171 | KALVISTA PHARMACEUTICALS INC | KALV | 10,000 | $113,050 | 0.02% |
| 172 | SILENCE THERAPEUTICS PLC | SLNCF | 18,643 | $108,129 | 0.02% |
| 173 | PMV PHARMACEUTICALS INC | PMVP | 101,008 | $107,068 | 0.02% |
| 174 | TERNS PHARMACEUTICALS INC | TERN | 28,415 | $105,988 | 0.02% |
| 175 | ENGENE HOLDINGS INC | ENGNW | 27,787 | $101,145 | 0.02% |
| 176 | ACHIEVE LIFE SCIENCES INC | ACHV | 43,173 | $97,571 | 0.01% |
| 177 | ORGANON & CO | OGN | 10,000 | $96,800 | 0.01% |
| 178 | REPLIMUNE GROUP INC | REPL | 10,400 | $96,616 | 0.01% |
| 179 | PLIANT THERAPEUTICS INC | PLRX | 82,189 | $95,339 | 0.01% |
| 180 | SYNDAX PHARMACEUTICALS INC | SNDX | 10,000 | $93,650 | 0.01% |
| 181 | ESSA PHARMA INC | 29668H708 | 50,000 | $85,000 | 0.01% |
| 182 | AURINIA PHARMACEUTICALS INC | AUPH | 10,000 | $84,700 | 0.01% |
| 183 | SHATTUCK LABS INC | STTK | 102,948 | $81,514 | 0.01% |
| 184 | RELMADA THERAPEUTICS INC | RLMD | 130,000 | $78,039 | 0.01% |
| 185 | BIOATLA INC | BCAB | 170,506 | $67,520 | 0.01% |
| 186 | COMPASS THERAPEUTICS INC | CMPX | 25,000 | $65,000 | 0.01% |
| 187 | BOLT BIOTHERAPEUTICS INC | BOLT | 10,823 | $62,449 | 0.01% |
| 188 | ZENTALIS PHARMACEUTICALS INC | ZNTL | 50,000 | $58,000 | 0.01% |
| 189 | NEXTCURE INC | NXTC | 118,012 | $54,286 | 0.01% |
| 190 | CASI PHARMACEUTICALS INC | CASIF | 44,120 | $52,062 | 0.01% |
| 191 | AA MISSION ACQUISITION CORP | YCY-WT | 505,099 | $49,702 | 0.01% |
| 192 | ELEDON PHARMACEUTICALS INC | ELDN | 16,900 | $45,799 | 0.01% |
| 193 | IBIO INC | IBIO | 54,819 | $41,832 | 0.01% |
| 194 | OVID THERAPEUTICS INC | OVID | 115,867 | $38,225 | 0.01% |
| 195 | A SPAC III ACQUISITION CORP | G0544A145 | 215,000 | $36,550 | 0.01% |
| 196 | MURAL ONCOLOGY PUB LTD CO | G63365103 | 11,855 | $29,282 | 0.00% |
| 197 | RENOVORX INC | RNXT | 19,889 | $26,154 | 0.00% |
| 198 | ONKURE THERAPEUTICS INC | OKUR | 10,000 | $23,900 | 0.00% |
| 199 | PEPGEN INC | PEPG | 20,352 | $22,591 | 0.00% |
| 200 | MINERVA NEUROSCIENCES INC | NERV | 12,406 | $21,338 | 0.00% |
| 201 | JVSPAC ACQUISITION CORP | G5212E113 | 24,000 | $20,880 | 0.00% |
| 202 | PROQR THRAPEUTICS N V | N71542109 | 10,000 | $20,400 | 0.00% |
| 203 | MOVANO INC | 62459M206 | 19,146 | $13,019 | 0.00% |
| 204 | LEAP THERAPEUTICS INC | CYPH | 39,925 | $11,854 | 0.00% |
| 205 | CONNECT BIOPHARMA HLDGS LTD | CNTB | 10,300 | $10,094 | 0.00% |
| 206 | COHERUS ONCOLOGY INC | CHRS | 10,366 | $7,581 | 0.00% |
| 207 | IRON HORSE ACQUISITIONS CORP | 462837121 | 12,320 | $6,140 | 0.00% |
| 208 | KEEN VISION ACQUISITION CORP | KVACW | 75,000 | $4,050 | 0.00% |
| 209 | EMBRACE CHANGE ACQUISITN COR | G3034H141 | 13,144 | $1,501 | 0.00% |
| 210 | EMBRACE CHANGE ACQUISITN COR | EMCWF | 18,000 | $360 | 0.00% |