Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ELVN	ENLIVEN THERAPEUTICS INC	363,438	$14.25M	2.8%	$25.60	0.0%	—	29337E102
CGON	CG ONCOLOGY INC	205,622	$13.92M	2.7%	$52.43	0.0%	—	156944100
BHVN	BIOHAVEN LTD	1,594,491	$13.49M	2.6%	$11.75	0.0%	—	G1110E107
CLDX	CELLDEX THERAPEUTICS INC NEW	254,267	$8.065M	1.6%	$25.41	0.0%	—	15117B202
TYRA	TYRA BIOSCIENCES INC	193,177	$7.399M	1.4%	$30.25	0.0%	—	90240B106
DFTX	DEFINIUM THERAPEUTICS INC	325,483	$6.152M	1.2%	$16.29	0.0%	—	24477V105
BIOA	BIOAGE LABS INC	338,654	$5.923M	1.2%	$19.20	0.0%	—	09077V100
ACAD	ACADIA PHARMACEUTICALS INC	242,566	$5.4M	1.0%	$25.21	0.0%	—	004225108
ALMS	ALUMIS INC	229,566	$5.057M	1.0%	$24.33	0.0%	—	022307102
NRIX	NURIX THERAPEUTICS INC	315,226	$4.886M	0.9%	$17.34	0.0%	—	67080M103
ZURA	ZURA BIO LTD	753,520	$4.483M	0.9%	$5.88	0.0%	—	G9TY5A101
TNGX	TANGO THERAPEUTICS INC	200,919	$4.203M	0.8%	$11.91	0.0%	—	87583X109
SNSE	SENSEI BIOTHERAPEUTICS INC	132,873	$4.188M	0.8%	$13.96	0.0%	—	81728A207
RLMD	RELMADA THERAPEUTICS INC	597,409	$4.158M	0.8%	$4.01	0.0%	—	75955J402
ERAS	ERASCA INC	239,861	$3.881M	0.8%	$10.02	0.0%	—	29479A108
PCVX	VAXCYTE INC	59,061	$3.432M	0.7%	$52.77	0.0%	—	92243G108
HLXC	HELIX ACQUISITION CORP III	305,028	$3.099M	0.6%	$10.16	—	—	G4444S107
TENX	TENAX THERAPEUTICS INC	188,700	$3.017M	0.6%	$13.50	0.0%	—	88032L605
ALKS	ALKERMES PLC	80,492	$2.846M	0.6%	$32.34	0.0%	—	G01767105
JBIO	JADE BIOSCIENCES INC	154,034	$2.164M	0.4%	$14.79	0.0%	—	008064206
IONS	IONIS PHARMACEUTICALS INC	26,385	$1.981M	0.4%	$81.81	0.0%	—	462222100
IMCR	IMMUNOCORE HLDGS PLC	63,543	$1.916M	0.4%	$30.15	—	—	45258D105
FBRX	FORTE BIOSCIENCES INC	58,020	$1.503M	0.3%	$29.67	0.0%	—	34962G208
SION	SIONNA THERAPEUTICS INC	36,540	$1.465M	0.3%	$39.25	0.0%	—	829401108
SLDB	SOLID BIOSCIENCES INC	195,403	$1.407M	0.3%	$6.05	0.0%	—	83422E204
LPCN	LIPOCINE INC NEW	160,420	$1.282M	0.2%	$9.20	0.0%	—	53630X203
LBRX	LB PHARMACEUTICALS INC	50,000	$1.233M	0.2%	$22.38	0.0%	—	50180M108
CCCC	C4 THERAPEUTICS INC	453,236	$1.192M	0.2%	$2.09	0.0%	—	12529R107
EW	EDWARDS LIFESCIENCES CORP	14,588	$1.168M	0.2%	$81.94	0.0%	—	28176E108
BDSX	BIODESIX INC	70,004	$1.015M	0.2%	$9.93	0.0%	—	09075X207
STRO	SUTRO BIOPHARMA INC	23,295	$580K	0.1%	$15.08	0.0%	—	869367201
RVMD	REVOLUTION MEDICINES INC	100,000	$525K	0.1%	$88.95	+15.8%	PUT	76155X100
SPRB	SPRUCE BIOSCIENCES INC	6,360	$416K	0.1%	$74.54	0.0%	—	85209E208
TYRA	TYRA BIOSCIENCES INC	100,000	$290K	0.1%	$30.25	0.0%	CALL	90240B106
IMVT	IMMUNOVANT INC	100,000	$255K	0.0%	$24.38	+7.7%	CALL	45258J102
XBI	SPDR SERIES TRUST	150,000	$164K	0.0%	—	—	CALL	78464A870
SNDX	SYNDAX PHARMACEUTICALS INC	150,000	$90,000	0.0%	$15.22	+36.4%	CALL	87164F105
SPY	STATE STR SPDR S&P 500 ETF T	50,000	$85,500	0.0%	—	—	CALL	78462F103
QQQ	INVESCO QQQ TR	40,000	$74,200	0.0%	—	—	CALL	46090E103
BSX	BOSTON SCIENTIFIC CORP	250,000	$12,500	0.0%	—	—	CALL	101137107
TERN	TERNS PHARMACEUTICALS INC	100,000	$7,500	0.0%	$19.62	+90.9%	CALL	880881107
OLMA	OLEMA PHARMACEUTICALS INC	25,000	$3,750	0.0%	—	—	CALL	68062P106
EW	EDWARDS LIFESCIENCES CORP	10,000	$1,000	0.0%	$81.94	0.0%	CALL	28176E108

Increased Positions (21)

RVMD REVOLUTION MEDICINES INC 5.3%

Value $27.39M (+454.3%) Shares 281,632 (+354.0%) Est. Cost $88.95 Unrealized +15.8%

MBX MBX BIOSCIENCES INC 2.9%

Value $14.91M (+501.8%) Shares 499,469 (+535.8%) Est. Cost $32.78 Unrealized +12.4%

PRAX PRAXIS PRECISION MEDICINES I 3.5%

Value $18.13M (+192.0%) Shares 56,267 (+167.1%) Est. Cost $264.79 Unrealized +17.8%

SRRK SCHOLAR ROCK HLDG CORP 9.9%

Value $50.9M (+30.3%) Shares 1,035,496 (+16.8%) Est. Cost $37.77 Unrealized +20.4%

SYRE SPYRE THERAPEUTICS INC 1.6%

Value $8.454M (+697.0%) Shares 167,606 (+417.7%) Est. Cost $32.91 Unrealized +4.9%

EYPT EYEPOINT INC 2.0%

Value $10.45M (+61.7%) Shares 810,764 (+129.1%) Est. Cost $14.76 Unrealized +3.1%

MLYS MINERALYS THERAPEUTICS INC 2.8%

Value $14.45M (+37.3%) Shares 533,378 (+83.9%) Est. Cost $28.52 Unrealized +9.9%

DNTH DIANTHUS THERAPEUTICS INC 1.4%

Value $7.175M (+119.6%) Shares 85,502 (+7.8%) Est. Cost $33.01 Unrealized +44.1%

ARQT ARCUTIS BIOTHERAPEUTICS INC 1.9%

Value $9.749M (+49.4%) Shares 413,792 (+84.1%) Est. Cost $18.18 Unrealized +47.7%

NAMS NEWAMSTERDAM PHARMA COMPANY 1.1%

Value $5.783M (+125.5%) Shares 180,658 (+147.1%) Est. Cost $28.58 Unrealized +18.1%

EVMN EVOMMUNE INC 0.9%

Value $4.385M (+275.6%) Shares 193,777 (+184.1%) Est. Cost $20.86 Unrealized +5.4%

AMLX AMYLYX PHARMACEUTICALS INC 1.8%

Value $9.309M (+36.4%) Shares 669,685 (+18.5%) Est. Cost $11.92 Unrealized +17.3%

PTGX PROTAGONIST THERAPEUTICS INC 1.5%

Value $7.65M (+47.4%) Shares 72,577 (+22.1%) Est. Cost $62.52 Unrealized +33.2%

IMVT IMMUNOVANT INC 3.6%

Value $18.54M (+13.1%) Shares 746,494 (+15.7%) Est. Cost $24.38 Unrealized +7.7%

DNLI DENALI THERAPEUTICS INC 1.6%

Value $8.19M (+18.4%) Shares 426,561 (+1.8%) Est. Cost $17.47 Unrealized +12.3%

SABS SAB BIOTHERAPEUTICS INC 0.3%

Value $1.436M (+162.0%) Shares 375,000 (+155.9%) Est. Cost $3.72 Unrealized +7.5%

PHVS PHARVARIS N V 0.5%

Value $2.447M (+51.1%) Shares 86,637 (+48.4%) Est. Cost $24.95 Unrealized +7.2%

CAPR CAPRICOR THERAPEUTICS INC 0.2%

Value $1.143M (+121.8%) Shares 37,592 (+110.6%) Est. Cost $19.27 Unrealized +29.1%

QURE UNIQURE NV 0.2%

Value $1.276M (+22.7%) Shares 78,066 (+79.5%) Est. Cost $17.88 Unrealized +31.8%

ASMB ASSEMBLY BIOSCIENCES INC 1.0%

Value $5.146M (-3.5%) Shares 185,435 (+18.3%) Est. Cost $27.97 Unrealized +1.9%

IVVD INVIVYD INC 0.5%

Value $2.437M (-0.3%) Shares 1,874,546 (+89.4%) Est. Cost $1.85 Unrealized +6.6%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
RVMD	REVOLUTION MEDICINES INC	281,632 (+354.0%)	$27.39M (+454.3%)	5.3%	$88.95	+15.8%	—	76155X100
MBX	MBX BIOSCIENCES INC	499,469 (+535.8%)	$14.91M (+501.8%)	2.9%	$32.78	+12.4%	—	55287L101
PRAX	PRAXIS PRECISION MEDICINES I	56,267 (+167.1%)	$18.13M (+192.0%)	3.5%	$264.79	+17.8%	—	74006W207
SRRK	SCHOLAR ROCK HLDG CORP	1,035,496 (+16.8%)	$50.9M (+30.3%)	9.9%	$37.77	+20.4%	—	80706P103
SYRE	SPYRE THERAPEUTICS INC	167,606 (+417.7%)	$8.454M (+697.0%)	1.6%	$32.91	+4.9%	—	00773J202
EYPT	EYEPOINT INC	810,764 (+129.1%)	$10.45M (+61.7%)	2.0%	$14.76	+3.1%	—	30233G209
MLYS	MINERALYS THERAPEUTICS INC	533,378 (+83.9%)	$14.45M (+37.3%)	2.8%	$28.52	+9.9%	—	603170101
DNTH	DIANTHUS THERAPEUTICS INC	85,502 (+7.8%)	$7.175M (+119.6%)	1.4%	$33.01	+44.1%	—	252828108
ARQT	ARCUTIS BIOTHERAPEUTICS INC	413,792 (+84.1%)	$9.749M (+49.4%)	1.9%	$18.18	+47.7%	—	03969K108
NAMS	NEWAMSTERDAM PHARMA COMPANY	180,658 (+147.1%)	$5.783M (+125.5%)	1.1%	$28.58	+18.1%	—	N62509109
EVMN	EVOMMUNE INC	193,777 (+184.1%)	$4.385M (+275.6%)	0.9%	$20.86	+5.4%	—	30054Y107
AMLX	AMYLYX PHARMACEUTICALS INC	669,685 (+18.5%)	$9.309M (+36.4%)	1.8%	$11.92	+17.3%	—	03237H101
PTGX	PROTAGONIST THERAPEUTICS INC	72,577 (+22.1%)	$7.65M (+47.4%)	1.5%	$62.52	+33.2%	—	74366E102
IMVT	IMMUNOVANT INC	746,494 (+15.7%)	$18.54M (+13.1%)	3.6%	$24.38	+7.7%	—	45258J102
DNLI	DENALI THERAPEUTICS INC	426,561 (+1.8%)	$8.19M (+18.4%)	1.6%	$17.47	+12.3%	—	24823R105
SABS	SAB BIOTHERAPEUTICS INC	375,000 (+155.9%)	$1.436M (+162.0%)	0.3%	$3.72	+7.5%	—	78397T202
PHVS	PHARVARIS N V	86,637 (+48.4%)	$2.447M (+51.1%)	0.5%	$24.95	+7.2%	—	N69605108
CAPR	CAPRICOR THERAPEUTICS INC	37,592 (+110.6%)	$1.143M (+121.8%)	0.2%	$19.27	+29.1%	—	14070B309
QURE	UNIQURE NV	78,066 (+79.5%)	$1.276M (+22.7%)	0.2%	$17.88	+31.8%	—	N90064101
ASMB	ASSEMBLY BIOSCIENCES INC	185,435 (+18.3%)	$5.146M (-3.5%)	1.0%	$27.97	+1.9%	—	045396207
IVVD	INVIVYD INC	1,874,546 (+89.4%)	$2.437M (-0.3%)	0.5%	$1.85	+6.6%	—	00534A102

Exited Positions (38)

CNTA CENTESSA PHARMACEUTICALS PLC 5.6%

Value $28.86M Shares 1,154,114 Est. Cost $19.20 Unrealized —

ACLX ARCELLX INC 4.2%

Value $21.7M Shares 332,860 Est. Cost $79.36 Unrealized -10.2%

TERN TERNS PHARMACEUTICALS INC 3.4%

Value $17.34M Shares 429,198 Est. Cost $19.62 Unrealized +90.9%

MDGL MADRIGAL PHARMACEUTICALS INC 2.0%

Value $10.33M Shares 17,736 Est. Cost $423.30 Unrealized +16.3%

ADPT ADAPTIVE BIOTECHNOLOGIES COR 1.9%

Value $9.855M Shares 606,825 Est. Cost $16.32 Unrealized +4.1%

PALI PALISADE BIO INC 1.9%

Value $9.852M Shares 4,192,375 Est. Cost $1.92 Unrealized -7.2%

DRUG BRIGHT MINDS BIOSCIENCES INC 1.5%

Value $7.596M Shares 97,340 Est. Cost $66.83 Unrealized +25.7%

NKTR NEKTAR THERAPEUTICS 1.5%

Value $7.537M Shares 178,274 Est. Cost $49.14 Unrealized -1.7%

CLPT CLEARPOINT NEURO INC 1.3%

Value $6.592M Shares 481,858 Est. Cost $18.30 Unrealized -22.5%

IMTX IMMATICS N.V 1.2%

Value $6.408M Shares 610,308 Est. Cost $10.09 Unrealized -2.7%

OCUL OCULAR THERAPEUTIX INC 1.2%

Value $6.345M Shares 522,693 Est. Cost $12.02 Unrealized -18.2%

RYTM RHYTHM PHARMACEUTICALS INC 1.2%

Value $6.306M Shares 58,915 Est. Cost $59.81 Unrealized +71.9%

APGE APOGEE THERAPEUTICS INC 1.2%

Value $6.082M Shares 80,574 Est. Cost $62.99 Unrealized +14.7%

INCY INCYTE CORP 1.2%

Value $6.068M Shares 61,435 Est. Cost $84.14 Unrealized +22.6%

IDYA IDEAYA BIOSCIENCES INC 1.1%

Value $5.589M Shares 161,659 Est. Cost $22.34 Unrealized +51.6%

MAZE MAZE THERAPEUTICS INC 1.0%

Value $5.215M Shares 125,877 Est. Cost $34.37 Unrealized +28.1%

LLY ELI LILLY & CO 1.0%

Value $5.114M Shares 4,759 Est. Cost $955.55 Unrealized +9.6%

TRVI TREVI THERAPEUTICS INC 1.0%

Value $5.002M Shares 399,557 Est. Cost $7.99 Unrealized +36.9%

VRDN VIRIDIAN THERAPEUTICS INC 0.9%

Value $4.802M Shares 154,320 Est. Cost $27.43 Unrealized +12.4%

ABUS ARBUTUS BIOPHARMA CORP 0.9%

Value $4.746M Shares 986,751 Est. Cost $4.33 Unrealized -0.7%

MLTX MOONLAKE IMMUNOTHERAPEUTICS 0.9%

Value $4.592M Shares 348,401 Est. Cost $11.80 Unrealized +36.0%

CTMX CYTOMX THERAPEUTICS INC 0.9%

Value $4.415M Shares 1,036,311 Est. Cost $3.80 Unrealized +37.6%

ASND ASCENDIS PHARMA A/S 0.6%

Value $3.165M Shares 14,842 Est. Cost $198.81 Unrealized —

RGEN REPLIGEN CORP 0.5%

Value $2.574M Shares 15,707 Est. Cost $156.63 Unrealized -2.7%

QNCX QUINCE THERAPEUTICS INC 0.5%

Value $2.477M Shares 739,264 Est. Cost $2.52 Unrealized -38.4%

MGTX MEIRAGTX HLDGS PLC 0.4%

Value $2.287M Shares 287,689 Est. Cost $8.20 Unrealized -7.1%

IVA INVENTIVA SA 0.4%

Value $2.173M Shares 467,242 Est. Cost $4.73 Unrealized —

ABBV ABBVIE INC 0.4%

Value $2.131M Shares 9,325 Est. Cost $227.54 Unrealized -2.2%

ADCT ADC THERAPEUTICS SA 0.3%

Value $1.774M Shares 502,570 Est. Cost $2.96 Unrealized +29.7%

LEGN LEGEND BIOTECH CORP 0.3%

Value $1.594M Shares 73,328 Est. Cost $21.74 Unrealized —

BLTE BELITE BIO INC 0.3%

Value $1.466M Shares 9,163 Est. Cost $159.96 Unrealized —

XLO XILIO THERAPEUTICS INC 0.3%

Value $1.3M Shares 2,030,028 Est. Cost $0.75 Unrealized -19.5%

BBOT BRIDGEBIO ONCOLOGY THERAPEUT 0.2%

Value $1.083M Shares 86,517 Est. Cost $11.58 Unrealized —

TSHA TAYSHA GENE THERAPIES INC 0.2%

Value $1.002M Shares 182,130 Est. Cost $2.17 Unrealized +119.1%

GLUE MONTE ROSA THERAPEUTICS INC 0.2%

Value $966K Shares 61,577 Est. Cost $13.48 Unrealized +53.3%

VNDA VANDA PHARMACEUTICALS INC 0.1%

Value $520K Shares 58,989 Est. Cost $5.50 Unrealized +36.3%

KTTA PASITHEA THERAPEUTICS CORP 0.1%

Value $458K Shares 355,082 Est. Cost $0.88 Unrealized -2.3%

CNTA CENTESSA PHARMACEUTICALS PLC 0.0%

Value $26,250 Shares 75,000 Est. Cost $19.20 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CNTA	CENTESSA PHARMACEUTICALS PLC	1,154,114	$28.86M	5.6%	$19.20	—	—	152309100
ACLX	ARCELLX INC	332,860	$21.7M	4.2%	$79.36	-10.2%	—	03940C100
TERN	TERNS PHARMACEUTICALS INC	429,198	$17.34M	3.4%	$19.62	+90.9%	—	880881107
MDGL	MADRIGAL PHARMACEUTICALS INC	17,736	$10.33M	2.0%	$423.30	+16.3%	—	558868105
ADPT	ADAPTIVE BIOTECHNOLOGIES COR	606,825	$9.855M	1.9%	$16.32	+4.1%	—	00650F109
PALI	PALISADE BIO INC	4,192,375	$9.852M	1.9%	$1.92	-7.2%	—	696389402
DRUG	BRIGHT MINDS BIOSCIENCES INC	97,340	$7.596M	1.5%	$66.83	+25.7%	—	10919W405
NKTR	NEKTAR THERAPEUTICS	178,274	$7.537M	1.5%	$49.14	-1.7%	—	640268306
CLPT	CLEARPOINT NEURO INC	481,858	$6.592M	1.3%	$18.30	-22.5%	—	18507C103
IMTX	IMMATICS N.V	610,308	$6.408M	1.2%	$10.09	-2.7%	—	N44445109
OCUL	OCULAR THERAPEUTIX INC	522,693	$6.345M	1.2%	$12.02	-18.2%	—	67576A100
RYTM	RHYTHM PHARMACEUTICALS INC	58,915	$6.306M	1.2%	$59.81	+71.9%	—	76243J105
APGE	APOGEE THERAPEUTICS INC	80,574	$6.082M	1.2%	$62.99	+14.7%	—	03770N101
INCY	INCYTE CORP	61,435	$6.068M	1.2%	$84.14	+22.6%	—	45337C102
IDYA	IDEAYA BIOSCIENCES INC	161,659	$5.589M	1.1%	$22.34	+51.6%	—	45166A102
MAZE	MAZE THERAPEUTICS INC	125,877	$5.215M	1.0%	$34.37	+28.1%	—	578784100
LLY	ELI LILLY & CO	4,759	$5.114M	1.0%	$955.55	+9.6%	—	532457108
TRVI	TREVI THERAPEUTICS INC	399,557	$5.002M	1.0%	$7.99	+36.9%	—	89532M101
VRDN	VIRIDIAN THERAPEUTICS INC	154,320	$4.802M	0.9%	$27.43	+12.4%	—	92790C104
ABUS	ARBUTUS BIOPHARMA CORP	986,751	$4.746M	0.9%	$4.33	-0.7%	—	03879J100
MLTX	MOONLAKE IMMUNOTHERAPEUTICS	348,401	$4.592M	0.9%	$11.80	+36.0%	—	61559X104
CTMX	CYTOMX THERAPEUTICS INC	1,036,311	$4.415M	0.9%	$3.80	+37.6%	—	23284F105
ASND	ASCENDIS PHARMA A/S	14,842	$3.165M	0.6%	$198.81	—	—	04351P101
RGEN	REPLIGEN CORP	15,707	$2.574M	0.5%	$156.63	-2.7%	—	759916109
QNCX	QUINCE THERAPEUTICS INC	739,264	$2.477M	0.5%	$2.52	-38.4%	—	22053A107
MGTX	MEIRAGTX HLDGS PLC	287,689	$2.287M	0.4%	$8.20	-7.1%	—	G59665102
IVA	INVENTIVA SA	467,242	$2.173M	0.4%	$4.73	—	—	46124U107
ABBV	ABBVIE INC	9,325	$2.131M	0.4%	$227.54	-2.2%	—	00287Y109
ADCT	ADC THERAPEUTICS SA	502,570	$1.774M	0.3%	$2.96	+29.7%	—	H0036K147
LEGN	LEGEND BIOTECH CORP	73,328	$1.594M	0.3%	$21.74	—	—	52490G102
BLTE	BELITE BIO INC	9,163	$1.466M	0.3%	$159.96	—	—	07782B104
XLO	XILIO THERAPEUTICS INC	2,030,028	$1.3M	0.3%	$0.75	-19.5%	—	98422T100
BBOT	BRIDGEBIO ONCOLOGY THERAPEUT	86,517	$1.083M	0.2%	$11.58	—	—	107924102
TSHA	TAYSHA GENE THERAPIES INC	182,130	$1.002M	0.2%	$2.17	+119.1%	—	877619106
GLUE	MONTE ROSA THERAPEUTICS INC	61,577	$966K	0.2%	$13.48	+53.3%	—	61225M102
VNDA	VANDA PHARMACEUTICALS INC	58,989	$520K	0.1%	$5.50	+36.3%	—	921659108
KTTA	PASITHEA THERAPEUTICS CORP	355,082	$458K	0.1%	$0.88	-2.3%	—	70261F202
CNTA	CENTESSA PHARMACEUTICALS PLC	75,000	$26,250	0.0%	$19.20	—	CALL	152309100

Decreased Positions (15)

ABVX ABIVAX SA 6.8%

Value $34.94M (-33.9%) Shares 313,791 (-19.9%) Est. Cost $96.35 Unrealized —

GPCR STRUCTURE THERAPEUTICS INC 1.9%

Value $9.653M (-60.5%) Shares 200,267 (-43.0%) Est. Cost $54.24 Unrealized —

TWST TWIST BIOSCIENCE CORP 0.4%

Value $2.049M (-87.5%) Shares 43,110 (-91.7%) Est. Cost $31.20 Unrealized +41.6%

ROIV ROIVANT SCIENCES LTD 2.1%

Value $10.69M (-49.1%) Shares 385,800 (-60.1%) Est. Cost $12.06 Unrealized +100.4%

XENE XENON PHARMACEUTICALS INC 1.6%

Value $8.185M (-47.6%) Shares 140,755 (-59.6%) Est. Cost $38.26 Unrealized +9.7%

DYN DYNE THERAPEUTICS INC 1.8%

Value $9.175M (-43.8%) Shares 506,075 (-39.4%) Est. Cost $14.66 Unrealized +16.8%

SRZN SURROZEN INC 1.1%

Value $5.709M (-54.9%) Shares 195,981 (-68.4%) Est. Cost $9.58 Unrealized +132.0%

CELC CELCUITY INC 1.3%

Value $6.855M (-41.9%) Shares 60,062 (-49.2%) Est. Cost $40.03 Unrealized +168.5%

JNJ JOHNSON & JOHNSON 0.7%

Value $3.768M (-48.0%) Shares 15,415 (-56.0%) Est. Cost $197.01 Unrealized +15.7%

CYTK CYTOKINETICS INC 1.7%

Value $8.54M (-8.6%) Shares 129,577 (-11.8%) Est. Cost $62.21 Unrealized +3.6%

WHWK WHITEHAWK THERAPEUTICS INC 0.6%

Value $3.241M (-8.2%) Shares 939,369 (-35.6%) Est. Cost $2.16 Unrealized +30.5%

SNDX SYNDAX PHARMACEUTICALS INC 5.5%

Value $28.4M (+0.9%) Shares 1,215,743 (-9.2%) Est. Cost $15.22 Unrealized +36.4%

EWTX EDGEWISE THERAPEUTICS INC 1.8%

Value $9.162M (+2.3%) Shares 290,864 (-19.4%) Est. Cost $20.07 Unrealized +40.4%

SRRK SCHOLAR ROCK HLDG CORP 0.1%

Value $588K (+21.3%) Shares 100,000 (-63.9%) Est. Cost $37.77 Unrealized +20.4%

XFOR X4 PHARMACEUTICALS INC 0.7%

Value $3.514M (-2.2%) Shares 850,742 (-5.3%) Est. Cost $2.98 Unrealized +22.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ABVX	ABIVAX SA	313,791 (-19.9%)	$34.94M (-33.9%)	6.8%	$96.35	—	—	00370M103
GPCR	STRUCTURE THERAPEUTICS INC	200,267 (-43.0%)	$9.653M (-60.5%)	1.9%	$54.24	—	—	86366E106
TWST	TWIST BIOSCIENCE CORP	43,110 (-91.7%)	$2.049M (-87.5%)	0.4%	$31.20	+41.6%	—	90184D100
ROIV	ROIVANT SCIENCES LTD	385,800 (-60.1%)	$10.69M (-49.1%)	2.1%	$12.06	+100.4%	—	G76279101
XENE	XENON PHARMACEUTICALS INC	140,755 (-59.6%)	$8.185M (-47.6%)	1.6%	$38.26	+9.7%	—	98420N105
DYN	DYNE THERAPEUTICS INC	506,075 (-39.4%)	$9.175M (-43.8%)	1.8%	$14.66	+16.8%	—	26818M108
SRZN	SURROZEN INC	195,981 (-68.4%)	$5.709M (-54.9%)	1.1%	$9.58	+132.0%	—	86889P208
CELC	CELCUITY INC	60,062 (-49.2%)	$6.855M (-41.9%)	1.3%	$40.03	+168.5%	—	15102K100
JNJ	JOHNSON & JOHNSON	15,415 (-56.0%)	$3.768M (-48.0%)	0.7%	$197.01	+15.7%	—	478160104
CYTK	CYTOKINETICS INC	129,577 (-11.8%)	$8.54M (-8.6%)	1.7%	$62.21	+3.6%	—	23282W605
WHWK	WHITEHAWK THERAPEUTICS INC	939,369 (-35.6%)	$3.241M (-8.2%)	0.6%	$2.16	+30.5%	—	00032Q104
SNDX	SYNDAX PHARMACEUTICALS INC	1,215,743 (-9.2%)	$28.4M (+0.9%)	5.5%	$15.22	+36.4%	—	87164F105
EWTX	EDGEWISE THERAPEUTICS INC	290,864 (-19.4%)	$9.162M (+2.3%)	1.8%	$20.07	+40.4%	—	28036F105
SRRK	SCHOLAR ROCK HLDG CORP	100,000 (-63.9%)	$588K (+21.3%)	0.1%	$37.77	+20.4%	CALL	80706P103
XFOR	X4 PHARMACEUTICALS INC	850,742 (-5.3%)	$3.514M (-2.2%)	0.7%	$2.98	+22.0%	—	98420X202

Unchanged Positions (3)

AVTX AVALO THERAPEUTICS INC 0.4%

Value $2.012M Shares 134,742 Est. Cost $16.88 Unrealized -8.2%

MPLT MAPLIGHT THERAPEUTICS INC 0.4%

Value $2.033M Shares 100,000 Est. Cost $16.75 Unrealized +5.2%

VTGN VISTAGEN THERAPEUTICS INC 0.0%

Value $58,187 Shares 616,749 Est. Cost $3.55 Unrealized -82.9%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AVTX	AVALO THERAPEUTICS INC	134,742	$2.012M	0.4%	$16.88	-8.2%	—	05338F306
MPLT	MAPLIGHT THERAPEUTICS INC	100,000	$2.033M	0.4%	$16.75	+5.2%	—	56565P103
VTGN	VISTAGEN THERAPEUTICS INC	616,749	$58,187	0.0%	$3.55	-82.9%	—	92840H400