Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AKTS	AKTIS ONCOLOGY INC	4,824,469	$86.31M	3.7%	$17.89	—	COM ADDED	01021M104
RLAY	RELAY THERAPEUTICS INC	1,904,762	$18.95M	0.8%	$8.30	0.0%	COM	75943R102
CNTA	CENTESSA PHARMACEUTICALS PLC	410,800	$16.32M	0.7%	$32.01	—	CALL	152309100
ERAS	ERASCA INC	900,000	$14.56M	0.6%	$10.02	0.0%	COM	29479A108
EIKN	EIKON THERAPEUTICS INC	732,606	$7.751M	0.3%	$10.58	—	COM ADDED	282564103
REPL	REPLIMUNE GROUP INC	1,000,000	$7.65M	0.3%	$7.81	0.0%	COM	76029N106
ZURA	ZURA BIO LTD	1,179,715	$7.019M	0.3%	$5.88	0.0%	CLASS A ORD SHS	G9TY5A101
PHAT	PHATHOM PHARMACEUTICALS INC	625,000	$6.944M	0.3%	$13.69	0.0%	COM	71722W107
STOK	STOKE THERAPEUTICS INC	100,000	$3.256M	0.1%	$31.83	0.0%	COM	86150R107
PRLD	PRELUDE THERAPEUTICS INC	947,049	$3.239M	0.1%	$2.30	0.0%	COM	74065P101
HLXC	HELIX ACQUISITION CORP III USD	200,000	$2.032M	0.1%	$10.16	—	CL A ORD SHS ADDED	G4444S107

Increased Positions (4)

CNTA CENTESSA PHARMACEUTICALS PLC 10.1%

Value $238M (+205.9%) Shares 6,000,000 (+92.6%) Est. Cost $32.01 Unrealized —

CGON CG ONCOLOGY INC 3.2%

Value $74.58M (+132.7%) Shares 1,102,000 (+42.7%) Est. Cost $44.69 Unrealized +17.3%

ETON ETON PHARMACEUTICALS INC 2.3%

Value $53.6M (+56.1%) Shares 2,171,938 (+7.0%) Est. Cost $9.47 Unrealized +68.9%

MREO MEREO BIOPHARMA GROUP PLC 0.2%

Value $4.412M (+34.8%) Shares 13,368,855 (+70.2%) Est. Cost $0.38 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CNTA	CENTESSA PHARMACEUTICALS PLC	6,000,000 (+92.6%)	$238M (+205.9%)	10.1%	$32.01	—	SPONSORED ADS	152309100
CGON	CG ONCOLOGY INC	1,102,000 (+42.7%)	$74.58M (+132.7%)	3.2%	$44.69	+17.3%	COM	156944100
ETON	ETON PHARMACEUTICALS INC	2,171,938 (+7.0%)	$53.6M (+56.1%)	2.3%	$9.47	+68.9%	COM	29772L108
MREO	MEREO BIOPHARMA GROUP PLC	13,368,855 (+70.2%)	$4.412M (+34.8%)	0.2%	$0.38	—	SPON ADS	589492107

Exited Positions (11)

IMNM IMMUNOME INC 2.6%

Value $61.34M Shares 2,855,590 Est. Cost $8.38 Unrealized +175.4%

GPCR STRUCTURE THERAPEUTICS INC 1.0%

Value $23.26M Shares 334,380 Est. Cost $69.55 Unrealized —

PCVX VAXCYTE INC 0.9%

Value $20.76M Shares 450,000 Est. Cost $44.73 Unrealized +18.0%

AQST AQUESTIVE THERAPEUTICS INC 0.7%

Value $16.96M Shares 2,625,000 Est. Cost $4.32 Unrealized -7.0%

VYGR VOYAGER THERAPEUTICS INC 0.7%

Value $15.73M Shares 4,002,847 Est. Cost $3.88 Unrealized —

CGON CG ONCOLOGY INC 0.5%

Value $12.16M Shares 292,800 Est. Cost $44.69 Unrealized +17.3%

MNKD MANNKIND CORP 0.4%

Value $9.412M Shares 1,660,000 Est. Cost $5.51 Unrealized +1.1%

— NUVATION BIO INC 0.4%

Value $8.631M Shares 963,333 Est. Cost $10.45 Unrealized —

EOLS EVOLUS INC 0.2%

Value $4.489M Shares 675,000 Est. Cost $6.77 Unrealized -27.7%

CAMP CAMP4 THERAPEUTICS CORP 0.1%

Value $1.992M Shares 325,000 Est. Cost $4.25 Unrealized +9.7%

XNCR XENCOR INC 0.0%

Value $1.033M Shares 67,500 Est. Cost $32.11 Unrealized -60.6%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IMNM	IMMUNOME INC	2,855,590	$61.34M	2.6%	$8.38	+175.4%	—	45257U108
GPCR	STRUCTURE THERAPEUTICS INC	334,380	$23.26M	1.0%	$69.55	—	—	86366E106
PCVX	VAXCYTE INC	450,000	$20.76M	0.9%	$44.73	+18.0%	—	92243G108
AQST	AQUESTIVE THERAPEUTICS INC	2,625,000	$16.96M	0.7%	$4.32	-7.0%	—	03843E104
VYGR	VOYAGER THERAPEUTICS INC	4,002,847	$15.73M	0.7%	$3.88	—	—	92915B106
CGON	CG ONCOLOGY INC	292,800	$12.16M	0.5%	$44.69	+17.3%	CALL	156944100
MNKD	MANNKIND CORP	1,660,000	$9.412M	0.4%	$5.51	+1.1%	—	56400P706
—	NUVATION BIO INC	963,333	$8.631M	0.4%	$10.45	—	—	67080N119
EOLS	EVOLUS INC	675,000	$4.489M	0.2%	$6.77	-27.7%	—	30052C107
CAMP	CAMP4 THERAPEUTICS CORP	325,000	$1.992M	0.1%	$4.25	+9.7%	—	13463J101
XNCR	XENCOR INC	67,500	$1.033M	0.0%	$32.11	-60.6%	CALL	98401F105

Decreased Positions (4)

MBX MBX BIOSCIENCES INC 1.0%

Value $23.19M (-65.4%) Shares 777,000 (-63.4%) Est. Cost $18.46 Unrealized +99.5%

XNCR XENCOR INC 1.1%

Value $26.33M (-47.1%) Shares 2,183,000 (-32.9%) Est. Cost $32.11 Unrealized -60.6%

ATRA ATARA BIOTHERAPEUTICS INC 0.0%

Value $471K (-95.5%) Shares 99,593 (-82.6%) Est. Cost $13.39 Unrealized -50.8%

IBIO IBIO INC 0.1%

Value $3.008M (-30.1%) Shares 1,583,000 (-28.9%) Est. Cost $1.36 Unrealized +69.5%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MBX	MBX BIOSCIENCES INC	777,000 (-63.4%)	$23.19M (-65.4%)	1.0%	$18.46	+99.5%	COM	55287L101
XNCR	XENCOR INC	2,183,000 (-32.9%)	$26.33M (-47.1%)	1.1%	$32.11	-60.6%	COM	98401F105
ATRA	ATARA BIOTHERAPEUTICS INC	99,593 (-82.6%)	$471K (-95.5%)	0.0%	$13.39	-50.8%	COM NEW	046513206
IBIO	IBIO INC	1,583,000 (-28.9%)	$3.008M (-30.1%)	0.1%	$1.36	+69.5%	COM NEW	451033708

Unchanged Positions (11)

ANAB ANAPTYSBIO INC 18.5%

Value $437M Shares 7,880,094 Est. Cost $23.54 Unrealized +109.7%

CRNX CRINETICS PHARMACEUTICALS IN 6.6%

Value $156M Shares 4,288,120 Est. Cost $32.41 Unrealized +51.8%

JAZZ JAZZ PHARMACEUTICALS PLC 13.7%

Value $323M Shares 1,706,469 Est. Cost $120.72 Unrealized +40.0%

ORIC ORIC PHARMACEUTICALS INC 3.6%

Value $85.25M Shares 6,728,116 Est. Cost $15.26 Unrealized -29.5%

ZYME ZYMEWORKS INC 24.4%

Value $575M Shares 22,970,388 Est. Cost $9.83 Unrealized +137.7%

ZBIO ZENAS BIOPHARMA INC 0.7%

Value $15.43M Shares 789,500 Est. Cost $32.89 Unrealized -33.5%

BBOT BRIDGEBIO ONCOLOGY THERAPEUT 1.1%

Value $25.27M Shares 2,823,126 Est. Cost $11.58 Unrealized —

CRSP CRISPR THERAPEUTICS AG 2.8%

Value $66.09M Shares 1,389,276 Est. Cost $71.59 Unrealized -25.3%

GLPG GALAPAGOS NV 2.1%

Value $50.01M Shares 1,667,119 Est. Cost $32.49 Unrealized —

NGNE NEUROGENE INC 1.1%

Value $25.63M Shares 1,271,342 Est. Cost $14.32 Unrealized +26.7%

SRZNW SURROZEN INC 0.0%

Value $129K Shares 4,444 Est. Cost $7.07 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ANAB	ANAPTYSBIO INC	7,880,094	$437M	18.5%	$23.54	+109.7%	COM	032724106
CRNX	CRINETICS PHARMACEUTICALS IN	4,288,120	$156M	6.6%	$32.41	+51.8%	COM	22663K107
JAZZ	JAZZ PHARMACEUTICALS PLC	1,706,469	$323M	13.7%	$120.72	+40.0%	SHS USD	G50871105
ORIC	ORIC PHARMACEUTICALS INC	6,728,116	$85.25M	3.6%	$15.26	-29.5%	COM	68622P109
ZYME	ZYMEWORKS INC	22,970,388	$575M	24.4%	$9.83	+137.7%	COM	98985Y108
ZBIO	ZENAS BIOPHARMA INC	789,500	$15.43M	0.7%	$32.89	-33.5%	COM	98937L105
BBOT	BRIDGEBIO ONCOLOGY THERAPEUT	2,823,126	$25.27M	1.1%	$11.58	—	COM NEW	107924102
CRSP	CRISPR THERAPEUTICS AG	1,389,276	$66.09M	2.8%	$71.59	-25.3%	NAMEN AKT	H17182108
GLPG	GALAPAGOS NV	1,667,119	$50.01M	2.1%	$32.49	—	SPON ADR	36315X101
NGNE	NEUROGENE INC	1,271,342	$25.63M	1.1%	$14.32	+26.7%	COM	64135M105
SRZNW	SURROZEN INC	4,444	$129K	0.0%	$7.07	—	*W EXP 08/01/203	86889P117