Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GLTO	DAMORA THERAPEUTICS INC	3,603,595	$93.33M	3.5%	—	—	COM NEW	36322Q206
RLMD	RELMADA THERAPEUTICS INC	4,843,380	$33.71M	1.3%	—	—	COM	75955J402
TENX	TENAX THERAPEUTICS INC	1,675,262	$26.79M	1.0%	—	—	COM NEW	88032L605
ANL	ADLAI NORTYE LTD	3,212,731	$22.23M	0.8%	—	—	SPONSORED ADS	00704R109
IPSC	CENTURY THERAPEUTICS INC	8,695,652	$19.65M	0.7%	—	—	COM	15673T100
KRRO	KORRO BIO INC	1,009,500	$11.43M	0.4%	—	—	COM	500946108
ANRO	ALTO NEUROSCIENCE INC	500,000	$11.24M	0.4%	—	—	COM SHS	02157Q109
XFOR	X4 PHARMACEUTICALS INC	330,525	$1.365M	0.1%	—	—	COM NEW	98420X202

Increased Positions (5)

DNTH DIANTHUS THERAPEUTICS INC 3.7%

Value $99.03M (+140.3%) Shares 1,180,000 (+18.0%) Est. Cost — Unrealized —

VOR VOR BIOPHARMA INC 2.0%

Value $54.26M (+113.4%) Shares 3,041,719 (+56.5%) Est. Cost — Unrealized —

MAZE MAZE THERAPEUTICS INC 1.8%

Value $47.82M (-25.5%) Shares 1,602,034 (+3.5%) Est. Cost — Unrealized —

ZURA ZURA BIO LTD 1.4%

Value $38.29M (+36.7%) Shares 6,434,990 (+20.4%) Est. Cost — Unrealized —

OCUL OCULAR THERAPEUTIX INC 3.3%

Value $87.64M (-1.3%) Shares 10,346,926 (+41.4%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
DNTH	DIANTHUS THERAPEUTICS INC	1,180,000 (+18.0%)	$99.03M (+140.3%)	3.7%	—	—	COM	252828108
VOR	VOR BIOPHARMA INC	3,041,719 (+56.5%)	$54.26M (+113.4%)	2.0%	—	—	COM NEW	929033207
MAZE	MAZE THERAPEUTICS INC	1,602,034 (+3.5%)	$47.82M (-25.5%)	1.8%	—	—	COM	578784100
ZURA	ZURA BIO LTD	6,434,990 (+20.4%)	$38.29M (+36.7%)	1.4%	—	—	CLASS A ORD SHS	G9TY5A101
OCUL	OCULAR THERAPEUTIX INC	10,346,926 (+41.4%)	$87.64M (-1.3%)	3.3%	—	—	COM	67576A100

Exited Positions (2)

UPB UPSTREAM BIO INC 1.2%

Value $31.75M Shares 1,169,298 Est. Cost — Unrealized —

CASIF CASI PHARMACEUTICALS INC 0.0%

Value $839K Shares 987,259 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UPB	UPSTREAM BIO INC	1,169,298	$31.75M	1.2%	—	—	—	91678A107
CASIF	CASI PHARMACEUTICALS INC	987,259	$839K	0.0%	—	—	—	G1933S101

Decreased Positions (6)

ERAS ERASCA INC 9.9%

Value $265M (+299.0%) Shares 16,382,812 (-8.3%) Est. Cost — Unrealized —

KALV KALVISTA PHARMACEUTICALS INC 4.9%

Value $130M (+19.9%) Shares 6,474,485 (-3.8%) Est. Cost — Unrealized —

CTMX CYTOMX THERAPEUTICS INC 1.8%

Value $46.92M (-29.2%) Shares 9,982,124 (-35.9%) Est. Cost — Unrealized —

ELVN ENLIVEN THERAPEUTICS INC 2.5%

Value $67.67M (+36.2%) Shares 1,726,331 (-46.5%) Est. Cost — Unrealized —

ORIC ORIC PHARMACEUTICALS INC 2.0%

Value $54.73M (+17.9%) Shares 4,319,765 (-23.9%) Est. Cost — Unrealized —

SEPN SEPTERNA INC 0.5%

Value $12.16M (-28.6%) Shares 506,056 (-17.1%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ERAS	ERASCA INC	16,382,812 (-8.3%)	$265M (+299.0%)	9.9%	—	—	COM	29479A108
KALV	KALVISTA PHARMACEUTICALS INC	6,474,485 (-3.8%)	$130M (+19.9%)	4.9%	—	—	COM	483497103
CTMX	CYTOMX THERAPEUTICS INC	9,982,124 (-35.9%)	$46.92M (-29.2%)	1.8%	—	—	COM	23284F105
ELVN	ENLIVEN THERAPEUTICS INC	1,726,331 (-46.5%)	$67.67M (+36.2%)	2.5%	—	—	COM	29337E102
ORIC	ORIC PHARMACEUTICALS INC	4,319,765 (-23.9%)	$54.73M (+17.9%)	2.0%	—	—	COM	68622P109
SEPN	SEPTERNA INC	506,056 (-17.1%)	$12.16M (-28.6%)	0.5%	—	—	COM	81734D104

Unchanged Positions (14)

ORKA ORUKA THERAPEUTICS INC 7.6%

Value $203M Shares 4,148,428 Est. Cost — Unrealized —

APGE APOGEE THERAPEUTICS INC 26.7%

Value $715M Shares 8,493,321 Est. Cost — Unrealized —

SYRE SPYRE THERAPEUTICS INC 6.9%

Value $186M Shares 3,685,448 Est. Cost — Unrealized —

VRDN VIRIDIAN THERAPEUTICS INC 2.8%

Value $75.95M Shares 3,882,709 Est. Cost — Unrealized —

CBIO CRESCENT BIOPHARMA INC. 1.5%

Value $39.19M Shares 2,133,576 Est. Cost — Unrealized —

HELP CYBIN INC 0.7%

Value $18.49M Shares 3,851,654 Est. Cost — Unrealized —

ENGN ENGENE HOLDINGS INC 1.2%

Value $32.49M Shares 4,771,414 Est. Cost — Unrealized —

SVRA SAVARA INC 2.8%

Value $75.02M Shares 13,740,375 Est. Cost — Unrealized —

COGT COGENT BIOSCIENCES INC 2.9%

Value $76.98M Shares 2,000,000 Est. Cost — Unrealized —

CGEM CULLINAN THERAPEUTICS INC 0.7%

Value $19.61M Shares 1,379,965 Est. Cost — Unrealized —

JBIO JADE BIOSCIENCES INC 1.7%

Value $45.25M Shares 3,220,364 Est. Cost — Unrealized —

SRZN SURROZEN INC 0.7%

Value $18.44M Shares 632,931 Est. Cost — Unrealized —

ARTV ARTIVA BIOTHERAPEUTICS INC 0.4%

Value $10.37M Shares 1,609,569 Est. Cost — Unrealized —

DYN DYNE THERAPEUTICS INC 1.5%

Value $39.41M Shares 2,173,913 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ORKA	ORUKA THERAPEUTICS INC	4,148,428	$203M	7.6%	—	—	COM	687604108
APGE	APOGEE THERAPEUTICS INC	8,493,321	$715M	26.7%	—	—	COM	03770N101
SYRE	SPYRE THERAPEUTICS INC	3,685,448	$186M	6.9%	—	—	COM NEW	00773J202
VRDN	VIRIDIAN THERAPEUTICS INC	3,882,709	$75.95M	2.8%	—	—	COM	92790C104
CBIO	CRESCENT BIOPHARMA INC.	2,133,576	$39.19M	1.5%	—	—	COM	G2545C104
HELP	CYBIN INC	3,851,654	$18.49M	0.7%	—	—	COM NEW	23256X407
ENGN	ENGENE HOLDINGS INC	4,771,414	$32.49M	1.2%	—	—	COM	29286M105
SVRA	SAVARA INC	13,740,375	$75.02M	2.8%	—	—	COM	805111101
COGT	COGENT BIOSCIENCES INC	2,000,000	$76.98M	2.9%	—	—	COM	19240Q201
CGEM	CULLINAN THERAPEUTICS INC	1,379,965	$19.61M	0.7%	—	—	COM	230031106
JBIO	JADE BIOSCIENCES INC	3,220,364	$45.25M	1.7%	—	—	COM NEW	008064206
SRZN	SURROZEN INC	632,931	$18.44M	0.7%	—	—	COM NEW	86889P208
ARTV	ARTIVA BIOTHERAPEUTICS INC	1,609,569	$10.37M	0.4%	—	—	COM	04317A107
DYN	DYNE THERAPEUTICS INC	2,173,913	$39.41M	1.5%	—	—	COM	26818M108