Lion Point Capital, LP Hedge Fund

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CUE	CUE BIOPHARMA INC	2,202,854	$673	3.5%	$0.61	0.0%	COM	22978P106
SRPT	SAREPTA THERAPEUTICS INC	28,500	$613	3.2%	$21.08	0.0%	COM	803607100
VTYX	VENTYX BIOSCIENCES INC	41,500	$375	1.9%	$7.47	0.0%	COM	92332V107
LNTH	LANTHEUS HLDGS INC	5,500	$366	1.9%	$58.19	0.0%	COM	516544103
DYN	DYNE THERAPEUTICS INC	18,000	$352	1.8%	$18.94	0.0%	COM	26818M108
QURE	UNIQURE NV	14,700	$352	1.8%	$38.59	0.0%	SHS	N90064101
PCRX	PACIRA PHARMACEUTICALS INC	13,500	$349	1.8%	$23.78	0.0%	COM	695127100
VTRS	VIATRIS INC	27,700	$345	1.8%	$10.72	0.0%	COM	92556V106
AZTA	AZENTA INC	9,700	$323	1.7%	$32.68	0.0%	COM	114340102
JANX	JANUX THERAPEUTICS INC	19,000	$262	1.4%	$23.52	0.0%	COM	47103J105
EWTX	EDGEWISE THERAPEUTICS INC	9,100	$226	1.2%	$20.07	0.0%	COM	28036F105
INVA	INNOVIVA INC	8,200	$164	0.8%	$19.53	0.0%	COM	45781M101
IPHA	INNATE PHARMA S A	81,151	$142	0.7%	$1.75	—	SPONSORED ADS	45781K204
NERV	MINERVA NEUROSCIENCES INC	35,000	$141	0.7%	$3.71	0.0%	COM NEW	603380205
GHRS	GH RESEARCH PLC	10,200	$130	0.7%	$13.62	0.0%	ORDINARY SHARES	G3855L106

Increased Positions (6)

HUMA HUMACYTE INC 2.5%

Value ($000) $480 (+230.5%) Shares 500,000 (+498.8%) Est. Cost $1.81 Unrealized -21.6%

BHVN BIOHAVEN LTD 3.0%

Value ($000) $584 (+71.3%) Shares 51,700 (+127.8%) Est. Cost $24.03 Unrealized -48.4%

MIST MILESTONE PHARMACEUTICALS IN 7.9%

Value ($000) $1,525 (+15.8%) Shares 755,000 (+14.6%) Est. Cost $2.81 Unrealized -23.4%

JSPR JASPER THERAPEUTICS INC 4.4%

Value ($000) $851 (-10.3%) Shares 465,000 (+16.7%) Est. Cost $4.79 Unrealized -58.1%

GERN GERON CORP 3.9%

Value ($000) $763 (+11.4%) Shares 578,000 (+15.6%) Est. Cost $2.17 Unrealized -42.2%

MCRB SERES THERAPEUTICS INC 2.4%

Value ($000) $470 (-10.0%) Shares 31,570 (+16.3%) Est. Cost $12.30 Unrealized +41.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HUMA	HUMACYTE INC	500,000 (+498.8%)	$480 (+230.5%)	2.5%	$1.81	-21.6%	COM	44486Q103
BHVN	BIOHAVEN LTD	51,700 (+127.8%)	$584 (+71.3%)	3.0%	$24.03	-48.4%	COM	G1110E107
MIST	MILESTONE PHARMACEUTICALS IN	755,000 (+14.6%)	$1,525 (+15.8%)	7.9%	$2.81	-23.4%	COM	59935V107
JSPR	JASPER THERAPEUTICS INC	465,000 (+16.7%)	$851 (-10.3%)	4.4%	$4.79	-58.1%	COM NEW	471871202
GERN	GERON CORP	578,000 (+15.6%)	$763 (+11.4%)	3.9%	$2.17	-42.2%	COM	374163103
MCRB	SERES THERAPEUTICS INC	31,570 (+16.3%)	$470 (-10.0%)	2.4%	$12.30	+41.8%	COM NEW	81750R201

Exited Positions (3)

— AVADEL PHARMACEUTICALS PLC 4.7%

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

KNSA KINIKSA PHARMACEUTICALS INTL 4.7%

Value ($000) $909 Shares 23,400 Est. Cost $18.73 Unrealized +114.1%

INSM INSMED INC 4.7%

Value ($000) $900 Shares 6,250 Est. Cost $21.50 Unrealized +748.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	AVADEL PHARMACEUTICALS PLC	59,700	$912	4.7%	$11.87	—	—	G29687103
KNSA	KINIKSA PHARMACEUTICALS INTL	23,400	$909	4.7%	$18.73	+114.1%	—	G52694109
INSM	INSMED INC	6,250	$900	4.7%	$21.50	+748.8%	—	457669307

Decreased Positions (10)

MLYS MINERALYS THERAPEUTICS INC 2.0%

Value ($000) $381 (-74.2%) Shares 10,500 (-73.1%) Est. Cost $12.41 Unrealized +223.2%

PRAX PRAXIS PRECISION MEDICINES I 6.8%

Value ($000) $1,312 (+334.2%) Shares 4,450 (-21.9%) Est. Cost $48.49 Unrealized +284.1%

ARQT ARCUTIS BIOTHERAPEUTICS INC 0.8%

Value ($000) $152 (-77.1%) Shares 5,250 (-85.1%) Est. Cost $10.13 Unrealized +152.7%

BBIO BRIDGEBIO PHARMA INC 2.0%

Value ($000) $382 (-44.6%) Shares 5,000 (-62.4%) Est. Cost $27.34 Unrealized +140.1%

FENC FENNEC PHARMACEUTICALS INC 4.5%

Value ($000) $866 (-24.8%) Shares 112,434 (-8.6%) Est. Cost $8.27 Unrealized -0.7%

— MERSANA THERAPEUTICS INC 0.0%

Value ($000) $3 (-98.6%) Shares 100 (-99.6%) Est. Cost $7.76 Unrealized —

RGNX REGENXBIO INC 2.0%

Value ($000) $383 (-31.3%) Shares 26,600 (-53.9%) Est. Cost $15.56 Unrealized -19.9%

ARDX ARDELYX INC 3.9%

Value ($000) $750 (-16.4%) Shares 128,650 (-21.0%) Est. Cost $1.61 Unrealized +245.3%

SNDX SYNDAX PHARMACEUTICALS INC 3.9%

Value ($000) $756 (-10.6%) Shares 36,000 (-34.5%) Est. Cost $20.81 Unrealized -16.2%

IRON DISC MEDICINE INC 3.3%

Value ($000) $643 (-8.2%) Shares 8,100 (-23.6%) Est. Cost $49.93 Unrealized +69.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MLYS	MINERALYS THERAPEUTICS INC	10,500 (-73.1%)	$381 (-74.2%)	2.0%	$12.41	+223.2%	COM	603170101
PRAX	PRAXIS PRECISION MEDICINES I	4,450 (-21.9%)	$1,312 (+334.2%)	6.8%	$48.49	+284.1%	COM NEW	74006W207
ARQT	ARCUTIS BIOTHERAPEUTICS INC	5,250 (-85.1%)	$152 (-77.1%)	0.8%	$10.13	+152.7%	COM	03969K108
BBIO	BRIDGEBIO PHARMA INC	5,000 (-62.4%)	$382 (-44.6%)	2.0%	$27.34	+140.1%	COM	10806X102
FENC	FENNEC PHARMACEUTICALS INC	112,434 (-8.6%)	$866 (-24.8%)	4.5%	$8.27	-0.7%	COM	31447P100
—	MERSANA THERAPEUTICS INC	100 (-99.6%)	$3 (-98.6%)	0.0%	$7.76	—	COM	59045L205
RGNX	REGENXBIO INC	26,600 (-53.9%)	$383 (-31.3%)	2.0%	$15.56	-19.9%	COM	75901B107
ARDX	ARDELYX INC	128,650 (-21.0%)	$750 (-16.4%)	3.9%	$1.61	+245.3%	COM	039697107
SNDX	SYNDAX PHARMACEUTICALS INC	36,000 (-34.5%)	$756 (-10.6%)	3.9%	$20.81	-16.2%	COM	87164F105
IRON	DISC MEDICINE INC	8,100 (-23.6%)	$643 (-8.2%)	3.3%	$49.93	+69.2%	COM	254604101

Unchanged Positions (8)

MLTX MOONLAKE IMMUNOTHERAPEUTICS 4.6%

Value ($000) $890 Shares 67,500 Est. Cost $52.12 Unrealized -77.4%

DAWN DAY ONE BIOPHARMACEUTICALS I 2.0%

Value ($000) $391 Shares 42,000 Est. Cost $6.88 Unrealized +21.4%

SPRB SPRUCE BIOSCIENCES INC 0.5%

Value ($000) $87 Shares 1,000 Est. Cost $213.95 Unrealized -49.9%

RPRX ROYALTY PHARMA PLC 4.3%

Value ($000) $827 Shares 21,400 Est. Cost $36.20 Unrealized +5.3%

KURA KURA ONCOLOGY INC 2.5%

Value ($000) $478 Shares 46,000 Est. Cost $7.13 Unrealized +47.2%

CMPS COMPASS PATHWAYS PLC 2.1%

Value ($000) $400 Shares 58,000 Est. Cost $5.73 Unrealized —

BNTC BENITEC BIOPHARMA INC 4.3%

Value ($000) $835 Shares 62,000 Est. Cost $9.63 Unrealized +43.5%

RCKT ROCKET PHARMACEUTICALS INC 1.6%

Value ($000) $302 Shares 86,000 Est. Cost $3.15 Unrealized +8.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MLTX	MOONLAKE IMMUNOTHERAPEUTICS	67,500	$890	4.6%	$52.12	-77.4%	CLASS A ORD	61559X104
DAWN	DAY ONE BIOPHARMACEUTICALS I	42,000	$391	2.0%	$6.88	+21.4%	COM	23954D109
SPRB	SPRUCE BIOSCIENCES INC	1,000	$87	0.5%	$213.95	-49.9%	COM NEW	85209E208
RPRX	ROYALTY PHARMA PLC	21,400	$827	4.3%	$36.20	+5.3%	SHS CLASS A	G7709Q104
KURA	KURA ONCOLOGY INC	46,000	$478	2.5%	$7.13	+47.2%	COM	50127T109
CMPS	COMPASS PATHWAYS PLC	58,000	$400	2.1%	$5.73	—	SPONSORED ADS	20451W101
BNTC	BENITEC BIOPHARMA INC	62,000	$835	4.3%	$9.63	+43.5%	COM NEW	08205P209
RCKT	ROCKET PHARMACEUTICALS INC	86,000	$302	1.6%	$3.15	+8.7%	COM	77313F106