Lion Point Capital, LP Hedge Fund

CIK: 0001643354 · Show all filings

Period: Q3 2025 (← Previous) (Next →)

Filing Date: Nov 14, 2025

Total Value ($000): $17,602 (100.0% shares, 0.0% debt)

Holdings (27)

MLYS MINERALYS THERAPEUTICS INC 8.4%

Value ($000) $1,479 Shares 39,000 Est. Cost $12.41 Unrealized +74.3%

MIST MILESTONE PHARMACEUTICALS IN 7.5%

Value ($000) $1,317 Shares 658,553 Est. Cost $2.91 Unrealized -39.5%

FENC FENNEC PHARMACEUTICALS INC 6.5%

Value ($000) $1,151 Shares 123,000 Est. Cost $8.27 Unrealized +4.7%

JSPR JASPER THERAPEUTICS INC 5.4%

Value ($000) $949 Shares 398,558 Est. Cost $5.26 Unrealized -42.3%

— AVADEL PHARMACEUTICALS PLC 5.2%

Value ($000) $912 Shares 59,700 Est. Cost $11.87 Unrealized —

KNSA KINIKSA PHARMACEUTICALS INTL 5.2%

Value ($000) $909 Shares 23,400 Est. Cost $18.73 Unrealized +73.4%

INSM INSMED INC 5.1%

Value ($000) $900 Shares 6,250 Est. Cost $21.50 Unrealized +469.8%

ARDX ARDELYX INC 5.1%

Value ($000) $897 Shares 162,750 Est. Cost $1.61 Unrealized +236.8%

BNTC BENITEC BIOPHARMA INC 4.9%

Value ($000) $870 Shares 62,000 Est. Cost $9.63 Unrealized +32.5%

SNDX SYNDAX PHARMACEUTICALS INC 4.8%

Value ($000) $846 Shares 55,000 Est. Cost $20.81 Unrealized -37.1%

RPRX ROYALTY PHARMA PLC 4.3%

Value ($000) $755 Shares 21,400 Est. Cost $36.20 Unrealized 0.0%

IRON DISC MEDICINE INC 4.0%

Value ($000) $700 Shares 10,600 Est. Cost $49.93 Unrealized +19.1%

BBIO BRIDGEBIO PHARMA INC 3.9%

Value ($000) $691 Shares 13,300 Est. Cost $27.34 Unrealized +78.4%

GERN GERON CORP 3.9%

Value ($000) $685 Shares 500,000 Est. Cost $2.31 Unrealized -42.4%

ARQT ARCUTIS BIOTHERAPEUTICS INC 3.8%

Value ($000) $665 Shares 35,300 Est. Cost $10.13 Unrealized +55.7%

RGNX REGENXBIO INC 3.2%

Value ($000) $557 Shares 57,750 Est. Cost $15.56 Unrealized -43.2%

MCRB SERES THERAPEUTICS INC 3.0%

Value ($000) $522 Shares 27,138 Est. Cost $11.46 Unrealized +39.2%

MLTX MOONLAKE IMMUNOTHERAPEUTICS 2.7%

Value ($000) $484 Shares 67,500 Est. Cost $52.12 Unrealized 0.0%

KURA KURA ONCOLOGY INC 2.3%

Value ($000) $407 Shares 46,000 Est. Cost $7.13 Unrealized 0.0%

BHVN BIOHAVEN LTD 1.9%

Value ($000) $341 Shares 22,700 Est. Cost $38.91 Unrealized -62.6%

CMPS COMPASS PATHWAYS PLC 1.9%

Value ($000) $332 Shares 58,000 Est. Cost $5.73 Unrealized —

PRAX PRAXIS PRECISION MEDICINES I 1.7%

Value ($000) $302 Shares 5,700 Est. Cost $48.49 Unrealized 0.0%

DAWN DAY ONE BIOPHARMACEUTICALS I 1.7%

Value ($000) $296 Shares 42,000 Est. Cost $6.88 Unrealized 0.0%

RCKT ROCKET PHARMACEUTICALS INC 1.6%

Value ($000) $280 Shares 86,000 Est. Cost $3.15 Unrealized 0.0%

— MERSANA THERAPEUTICS INC 1.1%

Value ($000) $200 Shares 25,760 Est. Cost $7.76 Unrealized —

HUMA HUMACYTE INC 0.8%

Value ($000) $145 Shares 83,500 Est. Cost $3.75 Unrealized -47.8%

SPRB SPRUCE BIOSCIENCES INC 0.1%

Value ($000) $9 Shares 1,000 Est. Cost $213.95 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MLYS	MINERALYS THERAPEUTICS INC	39,000	$1,479	8.4%	$12.41	+74.3%	COM	603170101
MIST	MILESTONE PHARMACEUTICALS IN	658,553	$1,317	7.5%	$2.91	-39.5%	COM	59935V107
FENC	FENNEC PHARMACEUTICALS INC	123,000	$1,151	6.5%	$8.27	+4.7%	COM	31447P100
JSPR	JASPER THERAPEUTICS INC	398,558	$949	5.4%	$5.26	-42.3%	COM NEW	471871202
—	AVADEL PHARMACEUTICALS PLC	59,700	$912	5.2%	$11.87	—	COM SHS	G29687103
KNSA	KINIKSA PHARMACEUTICALS INTL	23,400	$909	5.2%	$18.73	+73.4%	ORD SHS CL A	G52694109
INSM	INSMED INC	6,250	$900	5.1%	$21.50	+469.8%	COM PAR $.01	457669307
ARDX	ARDELYX INC	162,750	$897	5.1%	$1.61	+236.8%	COM	039697107
BNTC	BENITEC BIOPHARMA INC	62,000	$870	4.9%	$9.63	+32.5%	COM NEW	08205P209
SNDX	SYNDAX PHARMACEUTICALS INC	55,000	$846	4.8%	$20.81	-37.1%	COM	87164F105
RPRX	ROYALTY PHARMA PLC	21,400	$755	4.3%	$36.20	0.0%	SHS CLASS A	G7709Q104
IRON	DISC MEDICINE INC	10,600	$700	4.0%	$49.93	+19.1%	COM	254604101
BBIO	BRIDGEBIO PHARMA INC	13,300	$691	3.9%	$27.34	+78.4%	COM	10806X102
GERN	GERON CORP	500,000	$685	3.9%	$2.31	-42.4%	COM	374163103
ARQT	ARCUTIS BIOTHERAPEUTICS INC	35,300	$665	3.8%	$10.13	+55.7%	COM	03969K108
RGNX	REGENXBIO INC	57,750	$557	3.2%	$15.56	-43.2%	COM	75901B107
MCRB	SERES THERAPEUTICS INC	27,138	$522	3.0%	$11.46	+39.2%	COM NEW	81750R201
MLTX	MOONLAKE IMMUNOTHERAPEUTICS	67,500	$484	2.7%	$52.12	0.0%	CLASS A ORD	61559X104
KURA	KURA ONCOLOGY INC	46,000	$407	2.3%	$7.13	0.0%	COM	50127T109
BHVN	BIOHAVEN LTD	22,700	$341	1.9%	$38.91	-62.6%	COM	G1110E107
CMPS	COMPASS PATHWAYS PLC	58,000	$332	1.9%	$5.73	—	SPONSORED ADS	20451W101
PRAX	PRAXIS PRECISION MEDICINES I	5,700	$302	1.7%	$48.49	0.0%	COM NEW	74006W207
DAWN	DAY ONE BIOPHARMACEUTICALS I	42,000	$296	1.7%	$6.88	0.0%	COM	23954D109
RCKT	ROCKET PHARMACEUTICALS INC	86,000	$280	1.6%	$3.15	0.0%	COM	77313F106
—	MERSANA THERAPEUTICS INC	25,760	$200	1.1%	$7.76	—	COM	59045L205
HUMA	HUMACYTE INC	83,500	$145	0.8%	$3.75	-47.8%	COM	44486Q103
SPRB	SPRUCE BIOSCIENCES INC	1,000	$9	0.1%	$213.95	0.0%	COM NEW	85209E208