Stonepine Capital Management, LLC Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
XBI	SPDR SERIES TRUST	400,000	$51,092	20.5%	—	—	CALL	78464A870
XBI	SPDR SERIES TRUST	400,000	$51,092	20.5%	—	—	PUT	78464A870
ADMA	ADMA BIOLOGICS INC	1,150,000	$10,362	4.1%	$2.26	+649.0%	CALL	000899104
TERN	TERNS PHARMACEUTICALS INC	100,000	$5,272	2.1%	—	—	CALL	880881107
ESTA	ESTABLISHMENT LABS HLDGS INC	50,000	$2,839	1.1%	$70.34	0.0%	CALL	G31249108
ACAD	ACADIA PHARMACEUTICALS INC	100,000	$2,226	0.9%	$17.77	+41.9%	CALL	004225108
SLGL	SOL-GEL TECHNOLOGIES LTD	27,778	$2,201	0.9%	$66.40	0.0%	SHS NEW	M8694L137
EOLS	EVOLUS INC	420,000	$1,726	0.7%	$7.98	-38.6%	CALL	30052C107
XERS	XERIS BIOPHARMA HOLDINGS INC	280,000	$1,624	0.7%	$7.21	0.0%	CALL	98422E103
OKYO	OKYO PHARMA LTD	850,000	$1,369	0.5%	$2.12	0.0%	SHS NEW	G6724L116
SIBN	SI BONE INC	100,000	$1,263	0.5%	$16.92	0.0%	CALL	825704109
MNKD	MANNKIND CORP	500,000	$1,225	0.5%	$4.39	+26.9%	CALL	56400P706
NMRA	NEUMORA THERAPEUTICS INC.	500,000	$975	0.4%	$2.46	0.0%	CALL	640979100
CTMX	CYTOMX THERAPEUTICS INC.	200,000	$940	0.4%	$5.23	0.0%	CALL	23284F105
CTMX	CYTOMX THERAPEUTICS INC.	200,000	$940	0.4%	$5.23	0.0%	COM	23284F105
DCTH	DELCATH SYS INC	100,000	$928	0.4%	$9.94	+0.5%	CALL	24661P807
ARDX	ARDELYX INC	150,000	$899	0.4%	—	—	CALL	039697107
CNTB	CONNECT BIOPHARMA HLDGS LTD	310,000	$812	0.3%	$2.48	0.0%	SHS	G23549101
HRTX	HERON THERAPEUTICS INC	1,000,000	$800	0.3%	$1.49	-12.4%	CALL	427746102
MSLE	SATELLOS BIOSCIENCE INC	100,000	$563	0.2%	$5.63	—	COM	80401L803
PHAT	PHATHOM PHARMACEUTICALS INC	50,010	$556	0.2%	$13.69	0.0%	COM	71722W107
OKUR	ONKURE THERAPEUTICS INC	132,578	$549	0.2%	$2.73	0.0%	COM CL A	68277Q105
XLO	XILIO THERAPEUTICS INC	64,162	$540	0.2%	$8.41	—	COM NEW	98422T209
CADL	CANDEL THERAPEUTICS INC	102,500	$502	0.2%	$5.74	0.0%	COM	137404109
POCI	PRECISION OPTICS CORP INC MA	100,000	$439	0.2%	$4.74	0.0%	COM NEW	740294400
ESTA	ESTABLISHMENT LABS HLDGS INC	6,000	$341	0.1%	$70.34	0.0%	COM	G31249108
UPB	UPSTREAM BIO INC	35,000	$315	0.1%	$23.68	0.0%	COM	91678A107
IRD	OPUS GENETICS INC	68,688	$313	0.1%	$2.74	0.0%	COM	67577R102
ARVN	ARVINAS INC	27,500	$292	0.1%	$12.57	0.0%	COM	04335A105
XERS	XERIS BIOPHARMA HOLDINGS INC	40,030	$232	0.1%	$7.21	0.0%	COM	98422E103
NMRA	NEUMORA THERAPEUTICS INC.	100,000	$195	0.1%	$2.46	0.0%	COM	640979100
SABS	SAB BIOTHERAPEUTICS INC	50,000	$192	0.1%	$4.00	0.0%	COM NEW	78397T202
SIBN	SI BONE INC	14,964	$189	0.1%	$16.92	0.0%	COM	825704109
KLRS	KALARIS THERAPEUTICS INC	20,400	$118	0.0%	$9.37	0.0%	COM	482929106
BCAB	BIOATLA INC	65,387	$11	0.0%	$0.27	0.0%	COM	09077B104

Increased Positions (17)

TENX TENAX THERAPEUTICS INC 6.2%

Value ($000) $15,593 (+10664.0%) Shares 975,200 (+8106.0%) Est. Cost $13.44 Unrealized +0.4%

CAMP CAMP4 THERAPEUTICS CORP 2.5%

Value ($000) $6,128 (+336.8%) Shares 1,389,622 (+507.1%) Est. Cost $4.60 Unrealized +1.5%

EOLS EVOLUS INC 2.9%

Value ($000) $7,230 (-33.4%) Shares 1,759,091 (+7.8%) Est. Cost $7.98 Unrealized -38.6%

VSTM VERASTEM INC 7.0%

Value ($000) $17,502 (-17.0%) Shares 3,302,300 (+20.9%) Est. Cost $6.16 Unrealized +5.2%

CRIS CURIS INC 0.8%

Value ($000) $2,039 (+3381.3%) Shares 3,726,406 (+6178.8%) Est. Cost $0.98 Unrealized -0.6%

ANTX AN2 THERAPEUTICS INC 1.0%

Value ($000) $2,441 (+241.2%) Shares 713,845 (+13.7%) Est. Cost $1.18 Unrealized -4.2%

TELA TELA BIO INC 0.6%

Value ($000) $1,623 (-41.5%) Shares 2,617,252 (+11.3%) Est. Cost $3.72 Unrealized -75.1%

INAB IN8BIO INC 0.4%

Value ($000) $982 (+154.5%) Shares 663,412 (+302.3%) Est. Cost $2.32 Unrealized -11.4%

HRTX HERON THERAPEUTICS INC 0.4%

Value ($000) $1,122 (-30.3%) Shares 1,402,191 (+13.3%) Est. Cost $1.49 Unrealized -12.4%

ABEO ABEONA THERAPEUTICS INC 1.3%

Value ($000) $3,345 (-10.5%) Shares 746,587 (+5.2%) Est. Cost $5.79 Unrealized -10.8%

BIOA BIOAGE LABS INC 0.4%

Value ($000) $875 (+46.9%) Shares 50,000 (+11.1%) Est. Cost $5.81 Unrealized +230.8%

CDXS CODEXIS INC 0.3%

Value ($000) $681 (+63.2%) Shares 417,994 (+63.2%) Est. Cost $1.95 Unrealized -26.7%

KTTA PASITHEA THERAPEUTICS CORP 0.2%

Value ($000) $617 (+73.8%) Shares 831,301 (+202.2%) Est. Cost $0.86 Unrealized -0.8%

CNSP CNS PHARMACEUTICALS INC 0.1%

Value ($000) $146 (-43.1%) Shares 61,000 (+24.9%) Est. Cost $7.00 Unrealized -28.3%

PCSA PROCESSA PHARMACEUTICALS INC 0.1%

Value ($000) $139 (+291.3%) Shares 55,000 (+346.3%) Est. Cost $3.72 Unrealized -25.3%

LUNG PULMONX CORP 0.4%

Value ($000) $991 (-7.8%) Shares 768,288 (+58.0%) Est. Cost $2.22 Unrealized -21.7%

MXCT MAXCYTE INC 0.3%

Value ($000) $706 (-2.9%) Shares 1,004,673 (+114.2%) Est. Cost $1.36 Unrealized -24.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TENX	TENAX THERAPEUTICS INC	975,200 (+8106.0%)	$15,593 (+10664.0%)	6.2%	$13.44	+0.4%	COM NEW	88032L605
CAMP	CAMP4 THERAPEUTICS CORP	1,389,622 (+507.1%)	$6,128 (+336.8%)	2.5%	$4.60	+1.5%	COM	13463J101
EOLS	EVOLUS INC	1,759,091 (+7.8%)	$7,230 (-33.4%)	2.9%	$7.98	-38.6%	COM	30052C107
VSTM	VERASTEM INC	3,302,300 (+20.9%)	$17,502 (-17.0%)	7.0%	$6.16	+5.2%	COM NEW	92337C203
CRIS	CURIS INC	3,726,406 (+6178.8%)	$2,039 (+3381.3%)	0.8%	$0.98	-0.6%	COM	231269309
ANTX	AN2 THERAPEUTICS INC	713,845 (+13.7%)	$2,441 (+241.2%)	1.0%	$1.18	-4.2%	COM	037326105
TELA	TELA BIO INC	2,617,252 (+11.3%)	$1,623 (-41.5%)	0.6%	$3.72	-75.1%	COM	872381108
INAB	IN8BIO INC	663,412 (+302.3%)	$982 (+154.5%)	0.4%	$2.32	-11.4%	COM NEW	45674E208
HRTX	HERON THERAPEUTICS INC	1,402,191 (+13.3%)	$1,122 (-30.3%)	0.4%	$1.49	-12.4%	COM	427746102
ABEO	ABEONA THERAPEUTICS INC	746,587 (+5.2%)	$3,345 (-10.5%)	1.3%	$5.79	-10.8%	COM NEW	00289Y206
BIOA	BIOAGE LABS INC	50,000 (+11.1%)	$875 (+46.9%)	0.4%	$5.81	+230.8%	COM	09077V100
CDXS	CODEXIS INC	417,994 (+63.2%)	$681 (+63.2%)	0.3%	$1.95	-26.7%	COM	192005106
KTTA	PASITHEA THERAPEUTICS CORP	831,301 (+202.2%)	$617 (+73.8%)	0.2%	$0.86	-0.8%	COM NEW	70261F202
CNSP	CNS PHARMACEUTICALS INC	61,000 (+24.9%)	$146 (-43.1%)	0.1%	$7.00	-28.3%	COM	18978H508
PCSA	PROCESSA PHARMACEUTICALS INC	55,000 (+346.3%)	$139 (+291.3%)	0.1%	$3.72	-25.3%	COM SHS	74275C403
LUNG	PULMONX CORP	768,288 (+58.0%)	$991 (-7.8%)	0.4%	$2.22	-21.7%	COM	745848101
MXCT	MAXCYTE INC	1,004,673 (+114.2%)	$706 (-2.9%)	0.3%	$1.36	-24.0%	COM	57777K106

Exited Positions (18)

— INDIVIOR PLC 1.4%

Value ($000) $3,588 Shares 100,000 Est. Cost $10.67 Unrealized —

ACAD ACADIA PHARMACEUTICALS INC 1.1%

Value ($000) $2,671 Shares 100,000 Est. Cost $17.77 Unrealized +41.9%

CRSP CRISPR THERAPEUTICS AG 1.0%

Value ($000) $2,622 Shares 50,000 Est. Cost — Unrealized —

RARE ULTRAGENYX PHARMACEUTICAL IN 0.9%

Value ($000) $2,300 Shares 100,000 Est. Cost — Unrealized —

NKTR NEKTAR THERAPEUTICS 0.8%

Value ($000) $2,114 Shares 50,000 Est. Cost $20.19 Unrealized +139.4%

DAWN DAY ONE BIOPHARMACEUTICALS I 0.7%

Value ($000) $1,864 Shares 200,000 Est. Cost $10.23 Unrealized +7.7%

SPRB SPRUCE BIOSCIENCES INC 0.7%

Value ($000) $1,720 Shares 19,742 Est. Cost $107.14 Unrealized -30.4%

ENTA ENANTA PHARMACEUTICALS INC 0.6%

Value ($000) $1,577 Shares 100,000 Est. Cost $8.05 Unrealized +67.6%

MIST MILESTONE PHARMACEUTICALS IN 0.5%

Value ($000) $1,339 Shares 662,666 Est. Cost $2.15 Unrealized -12.0%

GERN GERON CORP 0.4%

Value ($000) $1,064 Shares 805,800 Est. Cost $1.70 Unrealized -11.5%

KZR KEZAR LIFE SCIENCES INC 0.4%

Value ($000) $982 Shares 156,179 Est. Cost $5.01 Unrealized +25.8%

SMLR SEMLER SCIENTIFIC INC 0.3%

Value ($000) $765 Shares 50,000 Est. Cost $22.69 Unrealized -9.7%

GOSS GOSSAMER BIO INC 0.3%

Value ($000) $635 Shares 204,770 Est. Cost $2.20 Unrealized +2.4%

FENC FENNEC PHARMACEUTICALS INC 0.2%

Value ($000) $385 Shares 50,000 Est. Cost $8.21 Unrealized -3.2%

DCTH DELCATH SYS INC 0.1%

Value ($000) $275 Shares 27,232 Est. Cost $9.94 Unrealized +0.5%

KPRX KIORA PHARMACEUTICALS INC 0.1%

Value ($000) $258 Shares 131,144 Est. Cost $3.90 Unrealized -45.0%

TNYA TENAYA THERAPEUTICS INC 0.1%

Value ($000) $250 Shares 352,001 Est. Cost $1.36 Unrealized -46.6%

XLO XILIO THERAPEUTICS INC 0.0%

Value ($000) $81 Shares 126,270 Est. Cost $0.75 Unrealized -19.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	INDIVIOR PLC	100,000	$3,588	1.4%	$10.67	—	—	G4766E116
ACAD	ACADIA PHARMACEUTICALS INC	100,000	$2,671	1.1%	$17.77	+41.9%	—	004225108
CRSP	CRISPR THERAPEUTICS AG	50,000	$2,622	1.0%	—	—	CALL	H17182108
RARE	ULTRAGENYX PHARMACEUTICAL IN	100,000	$2,300	0.9%	—	—	CALL	90400D108
NKTR	NEKTAR THERAPEUTICS	50,000	$2,114	0.8%	$20.19	+139.4%	CALL	640268306
DAWN	DAY ONE BIOPHARMACEUTICALS I	200,000	$1,864	0.7%	$10.23	+7.7%	—	23954D109
SPRB	SPRUCE BIOSCIENCES INC	19,742	$1,720	0.7%	$107.14	-30.4%	—	85209E208
ENTA	ENANTA PHARMACEUTICALS INC	100,000	$1,577	0.6%	$8.05	+67.6%	—	29251M106
MIST	MILESTONE PHARMACEUTICALS IN	662,666	$1,339	0.5%	$2.15	-12.0%	—	59935V107
GERN	GERON CORP	805,800	$1,064	0.4%	$1.70	-11.5%	—	374163103
KZR	KEZAR LIFE SCIENCES INC	156,179	$982	0.4%	$5.01	+25.8%	—	49372L209
SMLR	SEMLER SCIENTIFIC INC	50,000	$765	0.3%	$22.69	-9.7%	—	81684M104
GOSS	GOSSAMER BIO INC	204,770	$635	0.3%	$2.20	+2.4%	—	38341P102
FENC	FENNEC PHARMACEUTICALS INC	50,000	$385	0.2%	$8.21	-3.2%	—	31447P100
DCTH	DELCATH SYS INC	27,232	$275	0.1%	$9.94	+0.5%	—	24661P807
KPRX	KIORA PHARMACEUTICALS INC	131,144	$258	0.1%	$3.90	-45.0%	—	49721T507
TNYA	TENAYA THERAPEUTICS INC	352,001	$250	0.1%	$1.36	-46.6%	—	87990A106
XLO	XILIO THERAPEUTICS INC	126,270	$81	0.0%	$0.75	-19.5%	—	98422T100

Decreased Positions (25)

IKT INHIBIKASE THERAPEUTICS INC 0.6%

Value ($000) $1,608 (-66.6%) Shares 957,202 (-59.2%) Est. Cost $1.87 Unrealized -7.4%

VRCA VERRICA PHARMACEUTICALS INC 0.2%

Value ($000) $528 (-82.0%) Shares 99,735 (-71.8%) Est. Cost $5.54 Unrealized +26.6%

HELP CYBIN INC 0.3%

Value ($000) $643 (-76.9%) Shares 134,060 (-60.6%) Est. Cost $6.44 Unrealized +10.4%

SRZN SURROZEN INC 0.4%

Value ($000) $961 (-62.6%) Shares 33,005 (-71.0%) Est. Cost $10.69 Unrealized +108.0%

ELDN ELEDON PHARMACEUTICALS INC 0.0%

Value ($000) $108 (-92.0%) Shares 35,000 (-96.1%) Est. Cost $2.38 Unrealized -12.3%

OABI OMNIAB INC 0.1%

Value ($000) $258 (-80.1%) Shares 164,045 (-76.6%) Est. Cost $1.83 Unrealized -0.2%

XFOR X4 PHARMACEUTICALS INC 0.6%

Value ($000) $1,385 (-41.7%) Shares 335,309 (-43.5%) Est. Cost $2.58 Unrealized +41.0%

XOMA XOMA ROYALTY CORPORATION 0.9%

Value ($000) $2,180 (-28.7%) Shares 69,500 (-39.6%) Est. Cost $20.48 Unrealized +27.5%

EDSA EDESA BIOTECH INC 0.1%

Value ($000) $157 (-83.9%) Shares 30,000 (-95.6%) Est. Cost $2.31 Unrealized -44.6%

QNRX QUOIN PHARMACEUTICALS LTD 0.1%

Value ($000) $353 (-68.7%) Shares 53,460 (-31.6%) Est. Cost $14.43 Unrealized —

ZVRA ZEVRA THERAPEUTICS INC 1.8%

Value ($000) $4,474 (-12.3%) Shares 480,000 (-15.7%) Est. Cost $7.20 Unrealized +21.7%

ABEO ABEONA THERAPEUTICS INC 0.2%

Value ($000) $448 (-57.5%) Shares 100,000 (-50.0%) Est. Cost $5.79 Unrealized -10.8%

KZIA KAZIA THERAPEUTICS LTD 1.0%

Value ($000) $2,568 (-19.0%) Shares 345,179 (-25.0%) Est. Cost $6.89 Unrealized —

PMVP PMV PHARMACEUTICALS INC 0.4%

Value ($000) $878 (-39.0%) Shares 708,102 (-38.5%) Est. Cost $1.40 Unrealized -19.5%

CBIO CRESCENT BIOPHARMA INC. 0.6%

Value ($000) $1,561 (+50.2%) Shares 85,000 (-3.1%) Est. Cost $12.74 Unrealized -13.2%

MNKD MANNKIND CORP 0.0%

Value ($000) $40 (-91.8%) Shares 16,300 (-81.1%) Est. Cost $4.39 Unrealized +26.9%

CRBP CORBUS PHARMACEUTICALS HLDGS 1.4%

Value ($000) $3,601 (+13.4%) Shares 383,462 (-1.7%) Est. Cost $12.34 Unrealized -34.3%

CGEN COMPUGEN LTD 0.1%

Value ($000) $222 (-52.5%) Shares 104,300 (-65.8%) Est. Cost $1.66 Unrealized +10.3%

CABA CABALETTA BIO INC 0.1%

Value ($000) $135 (-64.1%) Shares 50,000 (-70.8%) Est. Cost $2.48 Unrealized +5.6%

BOLD BOUNDLESS BIO INC 0.3%

Value ($000) $657 (-22.8%) Shares 597,682 (-15.8%) Est. Cost $1.22 Unrealized -2.3%

OVID OVID THERAPEUTICS INC 0.0%

Value ($000) $89 (-46.8%) Shares 40,000 (-60.9%) Est. Cost $1.54 Unrealized +3.6%

AYTU AYTU BIOPHARMA INC 0.9%

Value ($000) $2,163 (+2.2%) Shares 792,289 (-2.6%) Est. Cost $1.82 Unrealized +38.7%

EVAX EVAXION AS 0.0%

Value ($000) $73 (-23.1%) Shares 19,713 (-1.4%) Est. Cost $4.77 Unrealized —

ZNTL ZENTALIS PHARMACEUTICALS INC 0.3%

Value ($000) $630 (+0.6%) Shares 269,100 (-42.0%) Est. Cost $1.56 Unrealized +67.1%

PLRX PLIANT THERAPEUTICS INC 0.1%

Value ($000) $283 (+0.9%) Shares 224,650 (-2.3%) Est. Cost $1.53 Unrealized -18.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IKT	INHIBIKASE THERAPEUTICS INC	957,202 (-59.2%)	$1,608 (-66.6%)	0.6%	$1.87	-7.4%	COM NEW	45719W205
VRCA	VERRICA PHARMACEUTICALS INC	99,735 (-71.8%)	$528 (-82.0%)	0.2%	$5.54	+26.6%	COM SHS	92511W207
HELP	CYBIN INC	134,060 (-60.6%)	$643 (-76.9%)	0.3%	$6.44	+10.4%	COM NEW	23256X407
SRZN	SURROZEN INC	33,005 (-71.0%)	$961 (-62.6%)	0.4%	$10.69	+108.0%	COM NEW	86889P208
ELDN	ELEDON PHARMACEUTICALS INC	35,000 (-96.1%)	$108 (-92.0%)	0.0%	$2.38	-12.3%	COM	28617K101
OABI	OMNIAB INC	164,045 (-76.6%)	$258 (-80.1%)	0.1%	$1.83	-0.2%	COM	68218J103
XFOR	X4 PHARMACEUTICALS INC	335,309 (-43.5%)	$1,385 (-41.7%)	0.6%	$2.58	+41.0%	COM NEW	98420X202
XOMA	XOMA ROYALTY CORPORATION	69,500 (-39.6%)	$2,180 (-28.7%)	0.9%	$20.48	+27.5%	COM NEW	98419J206
EDSA	EDESA BIOTECH INC	30,000 (-95.6%)	$157 (-83.9%)	0.1%	$2.31	-44.6%	COM NEW	27966L306
QNRX	QUOIN PHARMACEUTICALS LTD	53,460 (-31.6%)	$353 (-68.7%)	0.1%	$14.43	—	SPONSORED ADS	74907L409
ZVRA	ZEVRA THERAPEUTICS INC	480,000 (-15.7%)	$4,474 (-12.3%)	1.8%	$7.20	+21.7%	COM NEW	488445206
ABEO	ABEONA THERAPEUTICS INC	100,000 (-50.0%)	$448 (-57.5%)	0.2%	$5.79	-10.8%	CALL	00289Y206
KZIA	KAZIA THERAPEUTICS LTD	345,179 (-25.0%)	$2,568 (-19.0%)	1.0%	$6.89	—	SPONSORED ADS	48669G303
PMVP	PMV PHARMACEUTICALS INC	708,102 (-38.5%)	$878 (-39.0%)	0.4%	$1.40	-19.5%	COM	69353Y103
CBIO	CRESCENT BIOPHARMA INC.	85,000 (-3.1%)	$1,561 (+50.2%)	0.6%	$12.74	-13.2%	COM	G2545C104
MNKD	MANNKIND CORP	16,300 (-81.1%)	$40 (-91.8%)	0.0%	$4.39	+26.9%	COM NEW	56400P706
CRBP	CORBUS PHARMACEUTICALS HLDGS	383,462 (-1.7%)	$3,601 (+13.4%)	1.4%	$12.34	-34.3%	COM NEW	21833P301
CGEN	COMPUGEN LTD	104,300 (-65.8%)	$222 (-52.5%)	0.1%	$1.66	+10.3%	ORD	M25722105
CABA	CABALETTA BIO INC	50,000 (-70.8%)	$135 (-64.1%)	0.1%	$2.48	+5.6%	COM	12674W109
BOLD	BOUNDLESS BIO INC	597,682 (-15.8%)	$657 (-22.8%)	0.3%	$1.22	-2.3%	COM	10170A100
OVID	OVID THERAPEUTICS INC	40,000 (-60.9%)	$89 (-46.8%)	0.0%	$1.54	+3.6%	COM	690469101
AYTU	AYTU BIOPHARMA INC	792,289 (-2.6%)	$2,163 (+2.2%)	0.9%	$1.82	+38.7%	COM	054754858
EVAX	EVAXION AS	19,713 (-1.4%)	$73 (-23.1%)	0.0%	$4.77	—	SPONSORED ADS	29970R303
ZNTL	ZENTALIS PHARMACEUTICALS INC	269,100 (-42.0%)	$630 (+0.6%)	0.3%	$1.56	+67.1%	COM	98943L107
PLRX	PLIANT THERAPEUTICS INC	224,650 (-2.3%)	$283 (+0.9%)	0.1%	$1.53	-18.6%	COM	729139105

Unchanged Positions (6)

ADMA ADMA BIOLOGICS INC 2.7%

Value ($000) $6,667 Shares 740,000 Est. Cost $2.26 Unrealized +649.0%

NKTR NEKTAR THERAPEUTICS 2.4%

Value ($000) $6,116 Shares 85,000 Est. Cost $20.19 Unrealized +139.4%

ACET ADICET BIO INC 0.6%

Value ($000) $1,512 Shares 221,955 Est. Cost $11.05 Unrealized -29.8%

ARE ALEXANDRIA REAL ESTATE EQ IN 0.9%

Value ($000) $2,321 Shares 50,000 Est. Cost — Unrealized —

RADX RADIOPHARM THERANOSTICS LTD 0.3%

Value ($000) $739 Shares 51,000,000 Est. Cost $0.02 Unrealized —

JANX JANUX THERAPEUTICS INC 0.1%

Value ($000) $278 Shares 20,000 Est. Cost $23.52 Unrealized -41.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ADMA	ADMA BIOLOGICS INC	740,000	$6,667	2.7%	$2.26	+649.0%	COM	000899104
NKTR	NEKTAR THERAPEUTICS	85,000	$6,116	2.4%	$20.19	+139.4%	COM NEW	640268306
ACET	ADICET BIO INC	221,955	$1,512	0.6%	$11.05	-29.8%	COM NEW	007002207
ARE	ALEXANDRIA REAL ESTATE EQ IN	50,000	$2,321	0.9%	—	—	CALL	015271109
RADX	RADIOPHARM THERANOSTICS LTD	51,000,000	$739	0.3%	$0.02	—	SPONSORED ADS	75041J101
JANX	JANUX THERAPEUTICS INC	20,000	$278	0.1%	$23.52	-41.9%	COM	47103J105