13F HOLDINGS REPORT
Squadron Capital Management LLC
Quarter ended Q4 2025 · Filed February 17, 2026 · Accession 0002050709-26-000010
Total Value
$236.0M
Positions
33
Other Managers
0
Confidential Omitted
No
Holdings (33)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | RELMADA THERAPEUTICS INC | RLMD | 6,700,000 | $32.4M | 13.71% |
| 2 | COGENT BIOSCIENCES INC | COGT | 780,000 | $27.7M | 11.74% |
| 3 | MAZE THERAPEUTICS INC | MAZE | 490,000 | $20.3M | 8.60% |
| 4 | ABIVAX SA | AAVXF | 145,000 | $19.6M | 8.29% |
| 5 | KALVISTA PHARMACEUTICALS INC | KALV | 700,000 | $11.3M | 4.79% |
| 6 | PALISADE BIO INC | PALI | 4,500,000 | $10.6M | 4.48% |
| 7 | EDGEWISE THERAPEUTICS INC | EWTX | 350,000 | $8.7M | 3.68% |
| 8 | INHIBIKASE THERAPEUTICS INC | IKT | 4,225,000 | $8.7M | 3.67% |
| 9 | KODIAK SCIENCES INC | KOD | 291,710 | $8.2M | 3.46% |
| 10 | TERNS PHARMACEUTICALS INC | TERN | 190,000 | $7.7M | 3.25% |
| 11 | ARRIVENT BIOPHARMA INC | AVBP | 338,000 | $6.8M | 2.88% |
| 12 | TARSUS PHARMACEUTICALS INC | TARS | 80,000 | $6.6M | 2.78% |
| 13 | UPSTREAM BIO INC | UPB | 230,650 | $6.3M | 2.65% |
| 14 | SPRUCE BIOSCIENCES INC | SPRB | 70,000 | $6.1M | 2.58% |
| 15 | XENON PHARMACEUTICALS INC | XENE | 105,551 | $4.7M | 2.00% |
| 16 | DBV TECHNOLOGIES S A | DBVTF | 240,000 | $4.6M | 1.95% |
| 17 | CYBIN INC | HELP | 525,000 | $4.3M | 1.82% |
| 18 | LIPOCINE INC NEW | LPCN | 530,000 | $4.3M | 1.80% |
| 19 | BELITE BIO INC | BLTE | 26,000 | $4.2M | 1.76% |
| 20 | GH RESEARCH PLC | GHRS | 315,000 | $4.0M | 1.70% |
| 21 | EUPRAXIA PHARMACEUTICALS INC | EPRX | 500,000 | $3.8M | 1.60% |
| 22 | VENTYX BIOSCIENCES INC | 92332V107 | 410,000 | $3.7M | 1.57% |
| 23 | NEXTCURE INC | NXTC | 236,966 | $3.4M | 1.42% |
| 24 | VERA THERAPEUTICS INC | VERA | 60,000 | $3.0M | 1.29% |
| 25 | WAVE LIFE SCIENCES LTD | WVE | 175,000 | $3.0M | 1.26% |
| 26 | PASITHEA THERAPEUTICS CORP | KTTAW | 2,100,000 | $2.7M | 1.15% |
| 27 | COMPASS PATHWAYS PLC | CMPS | 388,287 | $2.7M | 1.14% |
| 28 | AVALO THERAPEUTICS INC | AVTX | 130,000 | $2.4M | 1.00% |
| 29 | INVENTIVA SA | IVEVF | 300,000 | $1.4M | 0.59% |
| 30 | ZENAS BIOPHARMA INC | ZBIO | 36,000 | $1.3M | 0.55% |
| 31 | TRAWS PHARMA INC | TRAW | 713,540 | $806,300 | 0.34% |
| 32 | INTELLIA THERAPEUTICS INC | NTLA | 81,000 | $728,190 | 0.31% |
| 33 | CLIMB BIO INC | CLYM | 100,000 | $400,000 | 0.17% |