Caligan Partners LP Diversified Active

Location: New York, NY

CIK: 0001727492 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Feb 17, 2026

Total Value: $1.215B (100.0% shares, 0.0% debt)

Holdings (24)

LQDA LIQUIDIA CORPORATION 23.1%

Value $280M Shares 8,118,892 Est. Cost $5.57 Unrealized +411.0%

ABVX ABIVAX SA 16.1%

Value $196M Shares 1,451,924 Est. Cost $7.07 Unrealized —

RVMD REVOLUTION MEDICINES INC 8.4%

Value $102M Shares 1,283,900 Est. Cost $44.10 Unrealized +48.7%

MLYS MINERALYS THERAPEUTICS INC 8.3%

Value $101M Shares 2,772,654 Est. Cost $14.60 Unrealized +174.7%

MLYS MINERALYS THERAPEUTICS INC 6.9%

Value $83.41M Shares 2,298,400 Est. Cost $14.60 Unrealized +174.7%

PCVX VAXCYTE INC 6.5%

Value $78.66M Shares 1,704,815 Est. Cost $44.73 Unrealized 0.0%

EXEL EXELIXIS INC 5.6%

Value $68.08M Shares 1,553,262 Est. Cost $19.81 Unrealized +108.8%

ADMA ADMA BIOLOGICS INC 4.5%

Value $54.95M Shares 3,012,508 Est. Cost $17.11 Unrealized -1.5%

TNGX TANGO THERAPEUTICS INC 2.7%

Value $33.05M Shares 3,729,895 Est. Cost $8.62 Unrealized 0.0%

INBX INHIBRX BIOSCIENCES INC 2.1%

Value $25.56M Shares 323,565 Est. Cost $36.34 Unrealized +87.5%

TYRA TYRA BIOSCIENCES INC 2.0%

Value $24.82M Shares 944,257 Est. Cost $12.94 Unrealized +42.0%

XENE XENON PHARMACEUTICALS INC 2.0%

Value $24.64M Shares 549,700 Est. Cost $36.52 Unrealized +15.0%

XENE XENON PHARMACEUTICALS INC 2.0%

Value $24.64M Shares 549,665 Est. Cost $36.52 Unrealized +15.0%

MAZE MAZE THERAPEUTICS INC 1.9%

Value $22.79M Shares 550,191 Est. Cost $34.37 Unrealized 0.0%

RAPT RAPT THERAPEUTICS INC 1.8%

Value $21.83M Shares 644,400 Est. Cost $31.06 Unrealized 0.0%

AVTX AVALO THERAPEUTICS INC 1.3%

Value $16.01M Shares 881,533 Est. Cost $9.05 Unrealized +86.4%

ANIK ANIKA THERAPEUTICS INC 1.1%

Value $13.79M Shares 1,435,130 Est. Cost $25.57 Unrealized -62.5%

INBX INHIBRX BIOSCIENCES INC 1.0%

Value $11.85M Shares 150,000 Est. Cost $36.34 Unrealized +87.5%

VOR VOR BIOPHARMA INC 0.8%

Value $9.963M Shares 925,067 Est. Cost $18.62 Unrealized 0.0%

IVA INVENTIVA SA 0.8%

Value $9.3M Shares 2,000,000 Est. Cost $4.65 Unrealized —

VRCA VERRICA PHARMACEUTICALS INC 0.6%

Value $7.678M Shares 923,910 Est. Cost $6.03 Unrealized -8.1%

AGIO AGIOS PHARMACEUTICALS INC 0.2%

Value $2.45M Shares 90,000 Est. Cost $29.40 Unrealized +19.3%

SPRB SPRUCE BIOSCIENCES INC 0.1%

Value $1.787M Shares 20,514 Est. Cost $107.14 Unrealized 0.0%

ELDN ELEDON PHARMACEUTICALS INC 0.1%

Value $840K Shares 555,978 Est. Cost $2.38 Unrealized 0.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LQDA	LIQUIDIA CORPORATION	8,118,892	$280M	23.1%	$5.57	+411.0%	COM NEW	53635D202
ABVX	ABIVAX SA	1,451,924	$196M	16.1%	$7.07	—	SPONSORED ADS	00370M103
RVMD	REVOLUTION MEDICINES INC	1,283,900	$102M	8.4%	$44.10	+48.7%	COM	76155X100
MLYS	MINERALYS THERAPEUTICS INC	2,772,654	$101M	8.3%	$14.60	+174.7%	COM	603170101
MLYS	MINERALYS THERAPEUTICS INC	2,298,400	$83.41M	6.9%	$14.60	+174.7%	Put	603170101
PCVX	VAXCYTE INC	1,704,815	$78.66M	6.5%	$44.73	0.0%	COM	92243G108
EXEL	EXELIXIS INC	1,553,262	$68.08M	5.6%	$19.81	+108.8%	COM	30161Q104
ADMA	ADMA BIOLOGICS INC	3,012,508	$54.95M	4.5%	$17.11	-1.5%	COM	000899104
TNGX	TANGO THERAPEUTICS INC	3,729,895	$33.05M	2.7%	$8.62	0.0%	COM	87583X109
INBX	INHIBRX BIOSCIENCES INC	323,565	$25.56M	2.1%	$36.34	+87.5%	COM	45720N103
TYRA	TYRA BIOSCIENCES INC	944,257	$24.82M	2.0%	$12.94	+42.0%	COM	90240B106
XENE	XENON PHARMACEUTICALS INC	549,700	$24.64M	2.0%	$36.52	+15.0%	Put	98420N105
XENE	XENON PHARMACEUTICALS INC	549,665	$24.64M	2.0%	$36.52	+15.0%	COM	98420N105
MAZE	MAZE THERAPEUTICS INC	550,191	$22.79M	1.9%	$34.37	0.0%	COM	578784100
RAPT	RAPT THERAPEUTICS INC	644,400	$21.83M	1.8%	$31.06	0.0%	COM NEW	75382E208
AVTX	AVALO THERAPEUTICS INC	881,533	$16.01M	1.3%	$9.05	+86.4%	COM NEW	05338F306
ANIK	ANIKA THERAPEUTICS INC	1,435,130	$13.79M	1.1%	$25.57	-62.5%	COM	035255108
INBX	INHIBRX BIOSCIENCES INC	150,000	$11.85M	1.0%	$36.34	+87.5%	Call	45720N103
VOR	VOR BIOPHARMA INC	925,067	$9.963M	0.8%	$18.62	0.0%	COM NEW	929033207
IVA	INVENTIVA SA	2,000,000	$9.3M	0.8%	$4.65	—	ADS	46124U107
VRCA	VERRICA PHARMACEUTICALS INC	923,910	$7.678M	0.6%	$6.03	-8.1%	COM SHS	92511W207
AGIO	AGIOS PHARMACEUTICALS INC	90,000	$2.45M	0.2%	$29.40	+19.3%	Call	00847X104
SPRB	SPRUCE BIOSCIENCES INC	20,514	$1.787M	0.1%	$107.14	0.0%	COM NEW	85209E208
ELDN	ELEDON PHARMACEUTICALS INC	555,978	$840K	0.1%	$2.38	0.0%	COM	28617K101