Institutional Manager · CIK 0001848809
Velan Capital Investment Management LP
ALPHARETTA, GA · File #028-21996
Latest AUM
$172.4M
Positions
48
Top-10 Concentration
70.6%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| REDUCE | PRAXIS PRECISION MEDICINES I | PRAX | -32,024 | -$9.4M | +$32.1M |
| NEW | EVOMMUNE INC | EVMN | +506,754 | +$8.7M | $0 |
| NEW | MAPLIGHT THERAPEUTICS INC | MPLT | +492,893 | +$8.7M | $0 |
| NEW | ESPERION THERAPEUTICS INC NE | ESPR | +1,210,000 | +$4.5M | $0 |
| EXITED | ZOOZ PWR LTD | M2573A106 | -2,000,000 | -$4.3M | $0 |
| NEW | VERRICA PHARMACEUTICALS INC | VRCA | +471,559 | +$3.9M | $0 |
| EXITED | ALUMIS INC | 022307102 | -946,683 | -$3.8M | $0 |
| ADD | PROTARA THERAPEUTICS INC | TARA | +695,652 | +$3.7M | +$2.1M |
| NEW | SUTRO BIOPHARMA INC | STRO | +312,000 | +$3.6M | $0 |
| EXITED | SUTRO BIOPHARMA INC | 869367102 | -3,120,000 | -$2.7M | $0 |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202548 pos · $172.4M
- 13F HOLDINGS REPORTQ/E Sep 202551 pos · $106.5M
- 13F HOLDINGS REPORTQ/E Jun 202553 pos · $101.2M
- 13F HOLDINGS REPORTQ/E Mar 202549 pos · $97.2M
- 13F HOLDINGS REPORTQ/E Dec 202447 pos · $115.9M
- 13F HOLDINGS REPORTQ/E Sep 202420 pos · $106.9M
- 13F HOLDINGS REPORTQ/E Jun 202418 pos · $174.6M
- 13F HOLDINGS REPORTQ/E Mar 202422 pos · $220.2M
- 13F HOLDINGS REPORTQ/E Dec 202330 pos · $124.0M
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | PRAXIS PRECISION MEDICINES I | PRAX | 100,781 | $29.7M | 17.23% |
| 2 | CIDARA THERAPEUTICS INC | 171757206 | 108,404 | $23.9M | 13.89% |
| 3 | PROTARA THERAPEUTICS INC | TARA | 2,834,652 | $15.1M | 8.76% |
| 4 | HERON THERAPEUTICS INC | HRTX | 8,753,290 | $11.4M | 6.60% |
| 5 | ABIVAX SA | AAVXF | 67,000 | $9.0M | 5.24% |
| 6 | EVOMMUNE INC | EVMN | 506,754 | $8.7M | 5.03% |
| 7 | MAPLIGHT THERAPEUTICS INC | MPLT | 492,893 | $8.7M | 5.02% |
| 8 | MINERALYS THERAPEUTICS INC | MLYS | 151,000 | $5.5M | 3.18% |
| 9 | LANTHEUS HLDGS INC | LNTH | 74,687 | $5.0M | 2.88% |
| 10 | AVALO THERAPEUTICS INC | AVTX | 263,642 | $4.8M | 2.78% |
| 11 | ESPERION THERAPEUTICS INC NE | ESPR | 1,210,000 | $4.5M | 2.60% |
| 12 | JASPER THERAPEUTICS INC | JSPRW | 2,423,067 | $4.4M | 2.57% |
| 13 | VERRICA PHARMACEUTICALS INC | VRCA | 471,559 | $3.9M | 2.27% |
| 14 | INSPIREMD INC | NSPR | 2,143,698 | $3.8M | 2.21% |
| 15 | RAPT THERAPEUTICS INC | 75382E208 | 108,000 | $3.7M | 2.12% |
| 16 | SUTRO BIOPHARMA INC | STRO | 312,000 | $3.6M | 2.09% |
| 17 | TERNS PHARMACEUTICALS INC | TERN | 70,000 | $2.8M | 1.64% |
| 18 | SYNDAX PHARMACEUTICALS INC | SNDX | 130,000 | $2.7M | 1.58% |
| 19 | VIRIDIAN THERAPEUTICS INC | VRDN | 86,500 | $2.7M | 1.56% |
| 20 | EUPRAXIA PHARMACEUTICALS INC | EPRX | 352,000 | $2.7M | 1.54% |