Decheng Capital LLC Diversified Active

Location: Menlo Park, CA

CIK: 0002010850 · Show all filings

Period: Q2 2025 (← Previous) (Next →)

Filing Date: Aug 13, 2025

Total Value: $396M (100.0% shares, 0.0% debt)

Holdings (25)

CGON CG ONCOLOGY INC 41.8%

Value $166M Shares 6,371,669 Est. Cost $39.91 Unrealized -39.6%

AARD AARDVARK THERAPEUTICS INC 13.4%

Value $52.96M Shares 3,917,299 Est. Cost $11.23 Unrealized -8.2%

NUVB Nuvation Bio Inc. 12.8%

Value $50.61M Shares 25,954,439 Est. Cost $3.05 Unrealized -31.7%

UPB Upstream Bio Inc. 9.1%

Value $36.07M Shares 3,285,293 Est. Cost $22.33 Unrealized -58.6%

NAMS NEWAMSTERDAM PHARMA CO NV 3.5%

Value $13.94M Shares 770,000 Est. Cost $19.66 Unrealized -7.2%

BYSI BeyondSpring Inc. 2.7%

Value $10.65M Shares 4,531,481 Est. Cost $0.92 Unrealized +101.2%

— MERUS NV 2.5%

Value $9.947M Shares 189,098 Est. Cost $51.07 Unrealized —

KRYS KRYSTAL BIOTECH INC 2.3%

Value $9.072M Shares 66,000 Est. Cost $122.01 Unrealized +20.4%

MLTX MOONLAKE IMMUNOTHERAPEUTICS 2.2%

Value $8.572M Shares 181,600 Est. Cost $50.17 Unrealized —

RVMD REVOLUTION MEDICINES INC(NSM) 2.1%

Value $8.315M Shares 226,000 Est. Cost $50.40 Unrealized -23.8%

ACRS Aclaris Therapeutics, Inc. 1.4%

Value $5.739M Shares 4,041,736 Est. Cost $2.33 Unrealized -42.0%

— Lyell Immunopharma, Inc. 1.3%

Value $5.264M Shares 595,466 Est. Cost $0.64 Unrealized —

ACLX ARCELLX INC 1.1%

Value $4.458M Shares 547,609 Est. Cost $63.99 Unrealized -2.7%

CRNX CRINETICS PHARMACEUTICALS IN 1.0%

Value $4.113M Shares 143,000 Est. Cost $39.97 Unrealized -22.7%

AURA Aura Biosciences, Inc. 0.8%

Value $3.227M Shares 515,555 Est. Cost $8.47 Unrealized -30.9%

ZNTL Zentalis Pharmaceuticals Inc. 0.4%

Value $1.535M Shares 1,323,327 Est. Cost $13.39 Unrealized -90.1%

EQ Equillium Inc. 0.4%

Value $1.402M Shares 4,447,308 Est. Cost $0.59 Unrealized -32.5%

FDMT 4D MOLECULAR THERAPEUTICS IN 0.2%

Value $889K Shares 239,510 Est. Cost $24.39 Unrealized -85.6%

RCUS Arcus Biosciences, Inc 0.2%

Value $811K Shares 160,000 Est. Cost $15.98 Unrealized -46.6%

ILMN Illumnia, Inc. 0.2%

Value $761K Shares 7,979 Est. Cost $122.34 Unrealized -33.7%

LEGN LEGEND BIOTECH CORP-ADR 0.2%

Value $710K Shares 20,000 Est. Cost $47.77 Unrealized —

GRAL GRAIL INC 0.1%

Value $498K Shares 9,684 Est. Cost $16.22 Unrealized +123.2%

PYXS Pyxis Oncology, Inc (formerly Apexigen) 0.1%

Value $359K Shares 326,810 Est. Cost $1.71 Unrealized -34.2%

RZLT REZOLUTE INC 0.1%

Value $267K Shares 59,900 Est. Cost $3.71 Unrealized 0.0%

— Nuvation Bio Inc. 0.0%

Value $127K Shares 646,057 Est. Cost $0.16 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CGON	CG ONCOLOGY INC	6,371,669	$166M	41.8%	$39.91	-39.6%	COM	156944100
AARD	AARDVARK THERAPEUTICS INC	3,917,299	$52.96M	13.4%	$11.23	-8.2%	COM	002942100
NUVB	Nuvation Bio Inc.	25,954,439	$50.61M	12.8%	$3.05	-31.7%	COM	67080N101
UPB	Upstream Bio Inc.	3,285,293	$36.07M	9.1%	$22.33	-58.6%	COM	91678A107
NAMS	NEWAMSTERDAM PHARMA CO NV	770,000	$13.94M	3.5%	$19.66	-7.2%	COM	N62509109
BYSI	BeyondSpring Inc.	4,531,481	$10.65M	2.7%	$0.92	+101.2%	SHS	G10830100
—	MERUS NV	189,098	$9.947M	2.5%	$51.07	—	COM	N5749R100
KRYS	KRYSTAL BIOTECH INC	66,000	$9.072M	2.3%	$122.01	+20.4%	COM	501147102
MLTX	MOONLAKE IMMUNOTHERAPEUTICS	181,600	$8.572M	2.2%	$50.17	—	COM	G4444C102
RVMD	REVOLUTION MEDICINES INC(NSM)	226,000	$8.315M	2.1%	$50.40	-23.8%	COM	76155X100
ACRS	Aclaris Therapeutics, Inc.	4,041,736	$5.739M	1.4%	$2.33	-42.0%	COM	00461U105
—	Lyell Immunopharma, Inc.	595,466	$5.264M	1.3%	$0.64	—	COM	55083R104
ACLX	ARCELLX INC	547,609	$4.458M	1.1%	$63.99	-2.7%	COM	03940C100
CRNX	CRINETICS PHARMACEUTICALS IN	143,000	$4.113M	1.0%	$39.97	-22.7%	COM	22663K107
AURA	Aura Biosciences, Inc.	515,555	$3.227M	0.8%	$8.47	-30.9%	COM	05153U107
ZNTL	Zentalis Pharmaceuticals Inc.	1,323,327	$1.535M	0.4%	$13.39	-90.1%	COM	98943L107
EQ	Equillium Inc.	4,447,308	$1.402M	0.4%	$0.59	-32.5%	COM	29446K106
FDMT	4D MOLECULAR THERAPEUTICS IN	239,510	$889K	0.2%	$24.39	-85.6%	COM	35104E100
RCUS	Arcus Biosciences, Inc	160,000	$811K	0.2%	$15.98	-46.6%	COM	03969F109
ILMN	Illumnia, Inc.	7,979	$761K	0.2%	$122.34	-33.7%	COM	452327109
LEGN	LEGEND BIOTECH CORP-ADR	20,000	$710K	0.2%	$47.77	—	ADR	52490G102
GRAL	GRAIL INC	9,684	$498K	0.1%	$16.22	+123.2%	COM	384747101
PYXS	Pyxis Oncology, Inc (formerly Apexigen)	326,810	$359K	0.1%	$1.71	-34.2%	COM	747324101
RZLT	REZOLUTE INC	59,900	$267K	0.1%	$3.71	0.0%	COM	76200L309
—	Nuvation Bio Inc.	646,057	$127K	0.0%	$0.16	—	WARRANTS	67080N119