Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
KNSA	KINIKSA PHARMACEUTICALS INTL	209,234	$13.38M	2.3%	—	—	ORD SHS CL A	G52694109
TRAX	FIRST TRACKS BIOTHERAPEUTICS	622,723	$12.53M	2.2%	—	—	ORD SHS	337185102
ORKA	ORUKA THERAPEUTICS INC	116,461	$11.08M	1.9%	—	—	COM	687604108
CLYM	CLIMB BIO INC	742,745	$9.685M	1.7%	—	—	COM	28658R106
IFRX	INFLARX NV	3,228,255	$7.231M	1.2%	—	—	COM	N44821101
OVID	OVID THERAPEUTICS INC	2,417,283	$6.502M	1.1%	—	—	COM	690469101
EQ	EQUILLIUM INC	2,016,607	$6.453M	1.1%	—	—	COM	29446K106
GLTO	DAMORA THERAPEUTICS INC	216,194	$5.623M	1.0%	—	—	COM NEW	36322Q206
IVA	INVENTIVA SA	1,426,320	$5.391M	0.9%	—	—	ADS	46124U107
IPSC	CENTURY THERAPEUTICS INC	2,146,182	$5.258M	0.9%	—	—	COM	15673T100
AURA	AURA BIOSCIENCES INC	714,280	$5.071M	0.9%	—	—	COM	05153U107
CMPS	COMPASS PATHWAYS PLC	284,769	$4.029M	0.7%	—	—	SPONSORED ADS	20451W101
AVLN	AVALYN PHARMACEUTICALS INC	118,000	$3.885M	0.7%	—	—	COM SHS	05348Y105
AXSM	AXSOME THERAPEUTICS INC.	15,375	$3.763M	0.6%	—	—	COM	05464T104
GLUE	MONTE ROSA THERAPEUTICS INC	153,544	$3.716M	0.6%	—	—	COM	61225M102
PSNL	PERSONALIS INC	247,783	$3.32M	0.6%	—	—	COM	71535D106
CBIO	CRESCENT BIOPHARMA INC.	182,382	$3.283M	0.6%	—	—	COM	G2545C104
ARWR	ARROWHEAD PHARMACEUTICALS IN	39,198	$3.195M	0.6%	—	—	COM	04280A100
KOD	KODIAK SCIENCES INC	75,872	$2.956M	0.5%	—	—	COM	50015M109
MNPR	MONOPAR THERAPEUTICS INC	30,125	$2.789M	0.5%	—	—	COM NEW	61023L207
RAPP	RAPPORT THERAPEUTICS INC	66,582	$2.774M	0.5%	—	—	COM	75383L102
CUE	CUE BIOPHARMA INC	66,995	$2.114M	0.4%	—	—	COM	22978P205
CALC	CALCIMEDICA INC	1,244,864	$1.196M	0.2%	—	—	COM NEW	38942Q202
CLRB	CELLECTAR BIOSCIENCES INC	354,938	$987K	0.2%	—	—	COM NEW	15117F880
PSNL	PERSONALIS INC	470,000	$811K	0.1%	—	—	CALL	71535D106
PRQR	PROQR THRAPEUTICS N V	431,054	$802K	0.1%	—	—	SHS EURO	N71542109
BHVN	BIOHAVEN LTD	500,000	$525K	0.1%	—	—	CALL	G1110E107
XBI	SPDR SERIES TRUST	250,000	$400K	0.1%	—	—	PUT	78464A870
AZN	ASTRAZENECA PLC	25,000	$180K	0.0%	—	—	CALL	G0593M107
TNGX	TANGO THERAPEUTICS INC	100,000	$175K	0.0%	—	—	CALL	87583X109
ERAS	ERASCA INC	200,000	$90,000	0.0%	—	—	PUT	29479A108
ARKG	ARK ETF TR	100,000	$75,000	0.0%	—	—	PUT	00214Q302
ROIV	ROIVANT SCIENCES LTD	100,000	$40,000	0.0%	—	—	PUT	G76279101
AMGN	AMGEN INC	15,000	$15,000	0.0%	—	—	PUT	031162100

Increased Positions (19)

TNGX TANGO THERAPEUTICS INC 6.6%

Value $38.23M (+809.6%) Shares 1,223,019 (+508.7%) Est. Cost — Unrealized —

ERAS ERASCA INC 4.9%

Value $28.69M (+639.2%) Shares 1,565,913 (+552.8%) Est. Cost — Unrealized —

TYRA TYRA BIOSCIENCES INC 3.5%

Value $20.21M (+173.2%) Shares 632,754 (+227.6%) Est. Cost — Unrealized —

DNTH DIANTHUS THERAPEUTICS INC 3.4%

Value $19.58M (+172.9%) Shares 200,851 (+134.9%) Est. Cost — Unrealized —

ALKS ALKERMES PLC 2.2%

Value $12.99M (+356.6%) Shares 248,015 (+208.1%) Est. Cost — Unrealized —

SRZN SURROZEN INC 2.4%

Value $13.79M (+141.5%) Shares 602,798 (+207.6%) Est. Cost — Unrealized —

RLMD RELMADA THERAPEUTICS INC 1.7%

Value $10.1M (+143.0%) Shares 1,460,093 (+144.4%) Est. Cost — Unrealized —

BIOA BIOAGE LABS INC 2.0%

Value $11.38M (+92.1%) Shares 464,171 (+37.1%) Est. Cost — Unrealized —

ZURA ZURA BIO LTD 1.4%

Value $8.072M (+80.1%) Shares 1,368,215 (+81.6%) Est. Cost — Unrealized —

CELC CELCUITY INC 1.8%

Value $10.27M (+49.9%) Shares 98,203 (+63.5%) Est. Cost — Unrealized —

QURE UNIQURE NV 0.7%

Value $4.059M (+218.0%) Shares 88,115 (+12.9%) Est. Cost — Unrealized —

SLDB SOLID BIOSCIENCES INC 0.6%

Value $3.584M (+154.8%) Shares 358,780 (+83.6%) Est. Cost — Unrealized —

SPRB SPRUCE BIOSCIENCES INC 0.4%

Value $2.235M (+437.7%) Shares 41,388 (+550.8%) Est. Cost — Unrealized —

MLYS MINERALYS THERAPEUTICS INC 2.8%

Value $16.26M (+12.5%) Shares 602,686 (+13.0%) Est. Cost — Unrealized —

MPLT MAPLIGHT THERAPEUTICS INC 0.7%

Value $3.832M (+88.5%) Shares 106,906 (+6.9%) Est. Cost — Unrealized —

WHWK WHITEHAWK THERAPEUTICS INC 0.8%

Value $4.676M (+44.3%) Shares 1,021,037 (+8.7%) Est. Cost — Unrealized —

CCCC C4 THERAPEUTICS INC 0.4%

Value $2.445M (+105.2%) Shares 523,648 (+15.5%) Est. Cost — Unrealized —

SION SIONNA THERAPEUTICS INC 0.5%

Value $2.614M (+78.5%) Shares 59,426 (+62.6%) Est. Cost — Unrealized —

XBI SPDR SERIES TRUST 0.0%

Value $178K (+8.4%) Shares 400,000 (+166.7%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TNGX	TANGO THERAPEUTICS INC	1,223,019 (+508.7%)	$38.23M (+809.6%)	6.6%	—	—	COM	87583X109
ERAS	ERASCA INC	1,565,913 (+552.8%)	$28.69M (+639.2%)	4.9%	—	—	COM	29479A108
TYRA	TYRA BIOSCIENCES INC	632,754 (+227.6%)	$20.21M (+173.2%)	3.5%	—	—	COM	90240B106
DNTH	DIANTHUS THERAPEUTICS INC	200,851 (+134.9%)	$19.58M (+172.9%)	3.4%	—	—	COM	252828108
ALKS	ALKERMES PLC	248,015 (+208.1%)	$12.99M (+356.6%)	2.2%	—	—	SHS	G01767105
SRZN	SURROZEN INC	602,798 (+207.6%)	$13.79M (+141.5%)	2.4%	—	—	COM NEW	86889P208
RLMD	RELMADA THERAPEUTICS INC	1,460,093 (+144.4%)	$10.1M (+143.0%)	1.7%	—	—	COM	75955J402
BIOA	BIOAGE LABS INC	464,171 (+37.1%)	$11.38M (+92.1%)	2.0%	—	—	COM	09077V100
ZURA	ZURA BIO LTD	1,368,215 (+81.6%)	$8.072M (+80.1%)	1.4%	—	—	CLASS A ORD SHS	G9TY5A101
CELC	CELCUITY INC	98,203 (+63.5%)	$10.27M (+49.9%)	1.8%	—	—	COM	15102K100
QURE	UNIQURE NV	88,115 (+12.9%)	$4.059M (+218.0%)	0.7%	—	—	SHS	N90064101
SLDB	SOLID BIOSCIENCES INC	358,780 (+83.6%)	$3.584M (+154.8%)	0.6%	—	—	COM NEW	83422E204
SPRB	SPRUCE BIOSCIENCES INC	41,388 (+550.8%)	$2.235M (+437.7%)	0.4%	—	—	COM NEW	85209E208
MLYS	MINERALYS THERAPEUTICS INC	602,686 (+13.0%)	$16.26M (+12.5%)	2.8%	—	—	COM	603170101
MPLT	MAPLIGHT THERAPEUTICS INC	106,906 (+6.9%)	$3.832M (+88.5%)	0.7%	—	—	COM	56565P103
WHWK	WHITEHAWK THERAPEUTICS INC	1,021,037 (+8.7%)	$4.676M (+44.3%)	0.8%	—	—	COM	00032Q104
CCCC	C4 THERAPEUTICS INC	523,648 (+15.5%)	$2.445M (+105.2%)	0.4%	—	—	COM STK	12529R107
SION	SIONNA THERAPEUTICS INC	59,426 (+62.6%)	$2.614M (+78.5%)	0.5%	—	—	COM	829401108
XBI	SPDR SERIES TRUST	400,000 (+166.7%)	$178K (+8.4%)	0.0%	—	—	CALL	78464A870

Exited Positions (32)

SNDX SYNDAX PHARMACEUTICALS INC 4.9%

Value $28.4M Shares 1,215,743 Est. Cost — Unrealized —

MBX MBX BIOSCIENCES INC 2.6%

Value $14.91M Shares 499,469 Est. Cost — Unrealized —

DYN DYNE THERAPEUTICS INC 1.6%

Value $9.175M Shares 506,075 Est. Cost — Unrealized —

EWTX EDGEWISE THERAPEUTICS INC 1.6%

Value $9.162M Shares 290,864 Est. Cost — Unrealized —

DNLI DENALI THERAPEUTICS INC 1.4%

Value $8.19M Shares 426,561 Est. Cost — Unrealized —

NRIX NURIX THERAPEUTICS INC 0.8%

Value $4.886M Shares 315,226 Est. Cost — Unrealized —

EVMN EVOMMUNE INC 0.8%

Value $4.385M Shares 193,777 Est. Cost — Unrealized —

SNSE SENSEI BIOTHERAPEUTICS INC 0.7%

Value $4.188M Shares 132,873 Est. Cost — Unrealized —

JNJ JOHNSON & JOHNSON 0.6%

Value $3.768M Shares 15,415 Est. Cost — Unrealized —

XFOR X4 PHARMACEUTICALS INC 0.6%

Value $3.514M Shares 850,742 Est. Cost — Unrealized —

PCVX VAXCYTE INC 0.6%

Value $3.432M Shares 59,061 Est. Cost — Unrealized —

IVVD INVIVYD INC 0.4%

Value $2.437M Shares 1,874,546 Est. Cost — Unrealized —

JBIO JADE BIOSCIENCES INC 0.4%

Value $2.164M Shares 154,034 Est. Cost — Unrealized —

TWST TWIST BIOSCIENCE CORP 0.4%

Value $2.049M Shares 43,110 Est. Cost — Unrealized —

AVTX AVALO THERAPEUTICS INC 0.3%

Value $2.012M Shares 134,742 Est. Cost — Unrealized —

IONS IONIS PHARMACEUTICALS INC 0.3%

Value $1.981M Shares 26,385 Est. Cost — Unrealized —

IMCR IMMUNOCORE HLDGS PLC 0.3%

Value $1.916M Shares 63,543 Est. Cost — Unrealized —

FBRX FORTE BIOSCIENCES INC 0.3%

Value $1.503M Shares 58,020 Est. Cost — Unrealized —

LPCN LIPOCINE INC NEW 0.2%

Value $1.282M Shares 160,420 Est. Cost — Unrealized —

EW EDWARDS LIFESCIENCES CORP 0.2%

Value $1.168M Shares 14,588 Est. Cost — Unrealized —

CAPR CAPRICOR THERAPEUTICS INC 0.2%

Value $1.143M Shares 37,592 Est. Cost — Unrealized —

SRRK SCHOLAR ROCK HLDG CORP 0.1%

Value $588K Shares 100,000 Est. Cost — Unrealized —

STRO SUTRO BIOPHARMA INC 0.1%

Value $580K Shares 23,295 Est. Cost — Unrealized —

TYRA TYRA BIOSCIENCES INC 0.0%

Value $290K Shares 100,000 Est. Cost — Unrealized —

IMVT IMMUNOVANT INC 0.0%

Value $255K Shares 100,000 Est. Cost — Unrealized —

SNDX SYNDAX PHARMACEUTICALS INC 0.0%

Value $90,000 Shares 150,000 Est. Cost — Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 0.0%

Value $85,500 Shares 50,000 Est. Cost — Unrealized —

QQQ INVESCO QQQ TR 0.0%

Value $74,200 Shares 40,000 Est. Cost — Unrealized —

BSX BOSTON SCIENTIFIC CORP 0.0%

Value $12,500 Shares 250,000 Est. Cost — Unrealized —

TERN TERNS PHARMACEUTICALS INC 0.0%

Value $7,500 Shares 100,000 Est. Cost — Unrealized —

OLMA OLEMA PHARMACEUTICALS INC 0.0%

Value $3,750 Shares 25,000 Est. Cost — Unrealized —

EW EDWARDS LIFESCIENCES CORP 0.0%

Value $1,000 Shares 10,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SNDX	SYNDAX PHARMACEUTICALS INC	1,215,743	$28.4M	4.9%	—	—	—	87164F105
MBX	MBX BIOSCIENCES INC	499,469	$14.91M	2.6%	—	—	—	55287L101
DYN	DYNE THERAPEUTICS INC	506,075	$9.175M	1.6%	—	—	—	26818M108
EWTX	EDGEWISE THERAPEUTICS INC	290,864	$9.162M	1.6%	—	—	—	28036F105
DNLI	DENALI THERAPEUTICS INC	426,561	$8.19M	1.4%	—	—	—	24823R105
NRIX	NURIX THERAPEUTICS INC	315,226	$4.886M	0.8%	—	—	—	67080M103
EVMN	EVOMMUNE INC	193,777	$4.385M	0.8%	—	—	—	30054Y107
SNSE	SENSEI BIOTHERAPEUTICS INC	132,873	$4.188M	0.7%	—	—	—	81728A207
JNJ	JOHNSON & JOHNSON	15,415	$3.768M	0.6%	—	—	—	478160104
XFOR	X4 PHARMACEUTICALS INC	850,742	$3.514M	0.6%	—	—	—	98420X202
PCVX	VAXCYTE INC	59,061	$3.432M	0.6%	—	—	—	92243G108
IVVD	INVIVYD INC	1,874,546	$2.437M	0.4%	—	—	—	00534A102
JBIO	JADE BIOSCIENCES INC	154,034	$2.164M	0.4%	—	—	—	008064206
TWST	TWIST BIOSCIENCE CORP	43,110	$2.049M	0.4%	—	—	—	90184D100
AVTX	AVALO THERAPEUTICS INC	134,742	$2.012M	0.3%	—	—	—	05338F306
IONS	IONIS PHARMACEUTICALS INC	26,385	$1.981M	0.3%	—	—	—	462222100
IMCR	IMMUNOCORE HLDGS PLC	63,543	$1.916M	0.3%	—	—	—	45258D105
FBRX	FORTE BIOSCIENCES INC	58,020	$1.503M	0.3%	—	—	—	34962G208
LPCN	LIPOCINE INC NEW	160,420	$1.282M	0.2%	—	—	—	53630X203
EW	EDWARDS LIFESCIENCES CORP	14,588	$1.168M	0.2%	—	—	—	28176E108
CAPR	CAPRICOR THERAPEUTICS INC	37,592	$1.143M	0.2%	—	—	—	14070B309
SRRK	SCHOLAR ROCK HLDG CORP	100,000	$588K	0.1%	—	—	CALL	80706P103
STRO	SUTRO BIOPHARMA INC	23,295	$580K	0.1%	—	—	—	869367201
TYRA	TYRA BIOSCIENCES INC	100,000	$290K	0.0%	—	—	CALL	90240B106
IMVT	IMMUNOVANT INC	100,000	$255K	0.0%	—	—	CALL	45258J102
SNDX	SYNDAX PHARMACEUTICALS INC	150,000	$90,000	0.0%	—	—	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%	—	—	CALL	880881107
OLMA	OLEMA PHARMACEUTICALS INC	25,000	$3,750	0.0%	—	—	CALL	68062P106
EW	EDWARDS LIFESCIENCES CORP	10,000	$1,000	0.0%	—	—	CALL	28176E108

Decreased Positions (29)

SRRK SCHOLAR ROCK HLDG CORP 2.3%

Value $13.15M (-74.2%) Shares 239,146 (-76.9%) Est. Cost — Unrealized —

IMVT IMMUNOVANT INC 1.8%

Value $10.65M (-42.5%) Shares 276,527 (-63.0%) Est. Cost — Unrealized —

GPCR STRUCTURE THERAPEUTICS INC 0.4%

Value $2.049M (-78.8%) Shares 38,178 (-80.9%) Est. Cost — Unrealized —

ARQT ARCUTIS BIOTHERAPEUTICS INC 0.4%

Value $2.594M (-73.4%) Shares 98,945 (-76.1%) Est. Cost — Unrealized —

PRAX PRAXIS PRECISION MEDICINES I 2.1%

Value $12.47M (-31.2%) Shares 37,243 (-33.8%) Est. Cost — Unrealized —

PTGX PROTAGONIST THERAPEUTICS INC 0.3%

Value $1.998M (-73.9%) Shares 16,303 (-77.5%) Est. Cost — Unrealized —

EYPT EYEPOINT INC 0.8%

Value $4.84M (-53.7%) Shares 338,471 (-58.3%) Est. Cost — Unrealized —

XENE XENON PHARMACEUTICALS INC 0.8%

Value $4.592M (-43.9%) Shares 76,075 (-46.0%) Est. Cost — Unrealized —

ELVN ENLIVEN THERAPEUTICS INC 3.0%

Value $17.61M (+23.6%) Shares 346,914 (-4.5%) Est. Cost — Unrealized —

NAMS NEWAMSTERDAM PHARMA COMPANY 0.5%

Value $2.629M (-54.5%) Shares 77,589 (-57.1%) Est. Cost — Unrealized —

ABVX ABIVAX SA 6.5%

Value $37.8M (+8.2%) Shares 283,657 (-9.6%) Est. Cost — Unrealized —

CGON CG ONCOLOGY INC 2.0%

Value $11.32M (-18.6%) Shares 159,349 (-22.5%) Est. Cost — Unrealized —

RVMD REVOLUTION MEDICINES INC 5.2%

Value $29.95M (+9.4%) Shares 159,943 (-43.2%) Est. Cost — Unrealized —

AMLX AMYLYX PHARMACEUTICALS INC 1.2%

Value $6.902M (-25.9%) Shares 384,304 (-42.6%) Est. Cost — Unrealized —

BHVN BIOHAVEN LTD 2.7%

Value $15.84M (+17.4%) Shares 1,064,200 (-33.3%) Est. Cost — Unrealized —

CYTK CYTOKINETICS INC 1.1%

Value $6.441M (-24.6%) Shares 75,603 (-41.7%) Est. Cost — Unrealized —

ACAD ACADIA PHARMACEUTICALS INC 0.6%

Value $3.622M (-32.9%) Shares 143,167 (-41.0%) Est. Cost — Unrealized —

ROIV ROIVANT SCIENCES LTD 2.1%

Value $12.33M (+15.4%) Shares 348,408 (-9.7%) Est. Cost — Unrealized —

TENX TENAX THERAPEUTICS INC 0.2%

Value $1.401M (-53.6%) Shares 96,273 (-49.0%) Est. Cost — Unrealized —

CLDX CELLDEX THERAPEUTICS INC NEW 1.1%

Value $6.639M (-17.7%) Shares 178,412 (-29.8%) Est. Cost — Unrealized —

HLXC HELIX ACQUISITION CORP III 0.3%

Value $1.827M (-41.1%) Shares 171,671 (-43.7%) Est. Cost — Unrealized —

ALMS ALUMIS INC 0.7%

Value $3.82M (-24.5%) Shares 135,736 (-40.9%) Est. Cost — Unrealized —

SYRE SPYRE THERAPEUTICS INC 1.6%

Value $9.493M (+12.3%) Shares 106,926 (-36.2%) Est. Cost — Unrealized —

ASMB ASSEMBLY BIOSCIENCES INC 0.8%

Value $4.682M (-9.0%) Shares 170,378 (-8.1%) Est. Cost — Unrealized —

RVMD REVOLUTION MEDICINES INC 0.0%

Value $128K (-75.7%) Shares 30,000 (-70.0%) Est. Cost — Unrealized —

PHVS PHARVARIS N V 0.5%

Value $2.798M (+14.3%) Shares 80,907 (-6.6%) Est. Cost — Unrealized —

DFTX DEFINIUM THERAPEUTICS INC 1.1%

Value $6.45M (+4.9%) Shares 137,124 (-57.9%) Est. Cost — Unrealized —

LBRX LB PHARMACEUTICALS INC 0.2%

Value $1.032M (-16.3%) Shares 31,785 (-36.4%) Est. Cost — Unrealized —

SABS SAB BIOTHERAPEUTICS INC 0.2%

Value $1.336M (-7.0%) Shares 342,631 (-8.6%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SRRK	SCHOLAR ROCK HLDG CORP	239,146 (-76.9%)	$13.15M (-74.2%)	2.3%	—	—	COM	80706P103
IMVT	IMMUNOVANT INC	276,527 (-63.0%)	$10.65M (-42.5%)	1.8%	—	—	COM	45258J102
GPCR	STRUCTURE THERAPEUTICS INC	38,178 (-80.9%)	$2.049M (-78.8%)	0.4%	—	—	SPONSORED ADS	86366E106
ARQT	ARCUTIS BIOTHERAPEUTICS INC	98,945 (-76.1%)	$2.594M (-73.4%)	0.4%	—	—	COM	03969K108
PRAX	PRAXIS PRECISION MEDICINES I	37,243 (-33.8%)	$12.47M (-31.2%)	2.1%	—	—	COM NEW	74006W207
PTGX	PROTAGONIST THERAPEUTICS INC	16,303 (-77.5%)	$1.998M (-73.9%)	0.3%	—	—	COM	74366E102
EYPT	EYEPOINT INC	338,471 (-58.3%)	$4.84M (-53.7%)	0.8%	—	—	COM NEW	30233G209
XENE	XENON PHARMACEUTICALS INC	76,075 (-46.0%)	$4.592M (-43.9%)	0.8%	—	—	COM	98420N105
ELVN	ENLIVEN THERAPEUTICS INC	346,914 (-4.5%)	$17.61M (+23.6%)	3.0%	—	—	COM	29337E102
NAMS	NEWAMSTERDAM PHARMA COMPANY	77,589 (-57.1%)	$2.629M (-54.5%)	0.5%	—	—	ORDINARY SHARES	N62509109
ABVX	ABIVAX SA	283,657 (-9.6%)	$37.8M (+8.2%)	6.5%	—	—	SPONSORED ADS	00370M103
CGON	CG ONCOLOGY INC	159,349 (-22.5%)	$11.32M (-18.6%)	2.0%	—	—	COM	156944100
RVMD	REVOLUTION MEDICINES INC	159,943 (-43.2%)	$29.95M (+9.4%)	5.2%	—	—	COM	76155X100
AMLX	AMYLYX PHARMACEUTICALS INC	384,304 (-42.6%)	$6.902M (-25.9%)	1.2%	—	—	COM	03237H101
BHVN	BIOHAVEN LTD	1,064,200 (-33.3%)	$15.84M (+17.4%)	2.7%	—	—	COM	G1110E107
CYTK	CYTOKINETICS INC	75,603 (-41.7%)	$6.441M (-24.6%)	1.1%	—	—	COM NEW	23282W605
ACAD	ACADIA PHARMACEUTICALS INC	143,167 (-41.0%)	$3.622M (-32.9%)	0.6%	—	—	COM	004225108
ROIV	ROIVANT SCIENCES LTD	348,408 (-9.7%)	$12.33M (+15.4%)	2.1%	—	—	SHS	G76279101
TENX	TENAX THERAPEUTICS INC	96,273 (-49.0%)	$1.401M (-53.6%)	0.2%	—	—	COM NEW	88032L605
CLDX	CELLDEX THERAPEUTICS INC NEW	178,412 (-29.8%)	$6.639M (-17.7%)	1.1%	—	—	COM NEW	15117B202
HLXC	HELIX ACQUISITION CORP III	171,671 (-43.7%)	$1.827M (-41.1%)	0.3%	—	—	USD CL A ORD SHS	G4444S107
ALMS	ALUMIS INC	135,736 (-40.9%)	$3.82M (-24.5%)	0.7%	—	—	COM	022307102
SYRE	SPYRE THERAPEUTICS INC	106,926 (-36.2%)	$9.493M (+12.3%)	1.6%	—	—	COM NEW	00773J202
ASMB	ASSEMBLY BIOSCIENCES INC	170,378 (-8.1%)	$4.682M (-9.0%)	0.8%	—	—	COM NEW	045396207
RVMD	REVOLUTION MEDICINES INC	30,000 (-70.0%)	$128K (-75.7%)	0.0%	—	—	PUT	76155X100
PHVS	PHARVARIS N V	80,907 (-6.6%)	$2.798M (+14.3%)	0.5%	—	—	COM	N69605108
DFTX	DEFINIUM THERAPEUTICS INC	137,124 (-57.9%)	$6.45M (+4.9%)	1.1%	—	—	COM SHS	24477V105
LBRX	LB PHARMACEUTICALS INC	31,785 (-36.4%)	$1.032M (-16.3%)	0.2%	—	—	COM SHS	50180M108
SABS	SAB BIOTHERAPEUTICS INC	342,631 (-8.6%)	$1.336M (-7.0%)	0.2%	—	—	COM NEW	78397T202

Unchanged Positions (2)

BDSX BIODESIX INC 0.3%

Value $1.579M Shares 70,000 Est. Cost — Unrealized —

VTGN VISTAGEN THERAPEUTICS INC 0.0%

Value $17,276 Shares 616,749 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BDSX	BIODESIX INC	70,000	$1.579M	0.3%	—	—	COM	09075X207
VTGN	VISTAGEN THERAPEUTICS INC	616,749	$17,276	0.0%	—	—	COM	92840H400