Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SMMT	SUMMIT THERAPEUTICS INC	1,200,000	$17.48M	1.0%	—	—	COM	86627T108
INSM	INSMED INC	100,000	$10.66M	0.6%	—	—	COM PAR $.01	457669307
PBLS	PARABILIS MEDICINES INC	250,000	$6.843M	0.4%	—	—	COM	698955101
ENGN	ENGENE THERAPEUTICS INC	457,855	$792K	0.0%	—	—	COM	29286X101
TRAW	TRAWS PHARMA INC	84,400	$71,175	0.0%	—	—	COM NEW	68232V884

Increased Positions (11)

VRDN VIRIDIAN THERAPEUTICS INC 6.6%

Value $119M (+158.8%) Shares 6,453,877 (+175.6%) Est. Cost — Unrealized —

TVTX TRAVERE THERAPEUTICS INC 6.3%

Value $114M (+143.7%) Shares 2,000,000 (+27.5%) Est. Cost — Unrealized —

LEGN LEGEND BIOTECH CORP 4.8%

Value $86.67M (+204.0%) Shares 3,001,205 (+90.4%) Est. Cost — Unrealized —

URGN UROGEN PHARMA LTD 5.0%

Value $89.58M (+121.7%) Shares 2,434,207 (+8.3%) Est. Cost — Unrealized —

RLAY RELAY THERAPEUTICS INC 3.4%

Value $61.74M (+335.7%) Shares 3,300,000 (+131.7%) Est. Cost — Unrealized —

IMCR IMMUNOCORE HLDGS PLC 2.4%

Value $43.66M (+63.6%) Shares 1,375,000 (+55.4%) Est. Cost — Unrealized —

CTMX CYTOMX THERAPEUTICS INC. 4.5%

Value $81.39M (+15.3%) Shares 21,703,093 (+44.6%) Est. Cost — Unrealized —

PRLD PRELUDE THERAPEUTICS INC 0.7%

Value $12.87M (+136.3%) Shares 2,415,087 (+51.6%) Est. Cost — Unrealized —

PHVS PHARVARIS N V 1.3%

Value $22.88M (+26.5%) Shares 661,795 (+3.3%) Est. Cost — Unrealized —

ALEC ALECTOR INC 0.4%

Value $7.655M (+78.0%) Shares 3,808,494 (+90.4%) Est. Cost — Unrealized —

AMRN AMARIN CORP PLC 0.5%

Value $8.496M (+24.4%) Shares 532,982 (+12.8%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
VRDN	VIRIDIAN THERAPEUTICS INC	6,453,877 (+175.6%)	$119M (+158.8%)	6.6%	—	—	COM	92790C104
TVTX	TRAVERE THERAPEUTICS INC	2,000,000 (+27.5%)	$114M (+143.7%)	6.3%	—	—	COM	89422G107
LEGN	LEGEND BIOTECH CORP	3,001,205 (+90.4%)	$86.67M (+204.0%)	4.8%	—	—	SPONSORED ADS	52490G102
URGN	UROGEN PHARMA LTD	2,434,207 (+8.3%)	$89.58M (+121.7%)	5.0%	—	—	COM	M96088105
RLAY	RELAY THERAPEUTICS INC	3,300,000 (+131.7%)	$61.74M (+335.7%)	3.4%	—	—	COM	75943R102
IMCR	IMMUNOCORE HLDGS PLC	1,375,000 (+55.4%)	$43.66M (+63.6%)	2.4%	—	—	ADS	45258D105
CTMX	CYTOMX THERAPEUTICS INC.	21,703,093 (+44.6%)	$81.39M (+15.3%)	4.5%	—	—	COM	23284F105
PRLD	PRELUDE THERAPEUTICS INC	2,415,087 (+51.6%)	$12.87M (+136.3%)	0.7%	—	—	COM	74065P101
PHVS	PHARVARIS N V	661,795 (+3.3%)	$22.88M (+26.5%)	1.3%	—	—	COM	N69605108
ALEC	ALECTOR INC	3,808,494 (+90.4%)	$7.655M (+78.0%)	0.4%	—	—	COM	014442107
AMRN	AMARIN CORP PLC	532,982 (+12.8%)	$8.496M (+24.4%)	0.5%	—	—	SPONSORED ADR	023111404

Exited Positions (12)

KALV KALVISTA PHARMACEUTICALS INC 2.0%

Value $36.66M Shares 1,820,954 Est. Cost — Unrealized —

APLS APELLIS PHARMACEUTICALS INC 1.8%

Value $33.19M Shares 825,000 Est. Cost — Unrealized —

TVTX TRAVERE THERAPEUTICS INC 1.3%

Value $23.77M Shares 800,000 Est. Cost — Unrealized —

RVMD REVOLUTION MEDICINES INC 1.1%

Value $20.18M Shares 207,500 Est. Cost — Unrealized —

SLNO SOLENO THERAPEUTICS INC 1.0%

Value $18.75M Shares 560,000 Est. Cost — Unrealized —

EVMN EVOMMUNE INC 0.8%

Value $14.38M Shares 625,496 Est. Cost — Unrealized —

ENGN ENGENE HOLDINGS INC 0.5%

Value $9.24M Shares 1,356,843 Est. Cost — Unrealized —

DSGN DESIGN THERAPEUTICS INC 0.5%

Value $8.348M Shares 784,606 Est. Cost — Unrealized —

WVE WAVE LIFE SCIENCES LTD 0.4%

Value $6.998M Shares 965,193 Est. Cost — Unrealized —

CLYM CLIMB BIO INC 0.4%

Value $6.873M Shares 1,003,341 Est. Cost — Unrealized —

BHVN BIOHAVEN LTD 0.3%

Value $5.946M Shares 702,884 Est. Cost — Unrealized —

TVTX TRAVERE THERAPEUTICS INC 0.1%

Value $1.631M Shares 54,900 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
KALV	KALVISTA PHARMACEUTICALS INC	1,820,954	$36.66M	2.0%	—	—	—	483497103
APLS	APELLIS PHARMACEUTICALS INC	825,000	$33.19M	1.8%	—	—	—	03753U106
TVTX	TRAVERE THERAPEUTICS INC	800,000	$23.77M	1.3%	—	—	CALL	89422G107
RVMD	REVOLUTION MEDICINES INC	207,500	$20.18M	1.1%	—	—	PUT	76155X100
SLNO	SOLENO THERAPEUTICS INC	560,000	$18.75M	1.0%	—	—	—	834203309
EVMN	EVOMMUNE INC	625,496	$14.38M	0.8%	—	—	—	30054Y107
ENGN	ENGENE HOLDINGS INC	1,356,843	$9.24M	0.5%	—	—	—	29286M105
DSGN	DESIGN THERAPEUTICS INC	784,606	$8.348M	0.5%	—	—	—	25056L103
WVE	WAVE LIFE SCIENCES LTD	965,193	$6.998M	0.4%	—	—	—	Y95308105
CLYM	CLIMB BIO INC	1,003,341	$6.873M	0.4%	—	—	—	28658R106
BHVN	BIOHAVEN LTD	702,884	$5.946M	0.3%	—	—	—	G1110E107
TVTX	TRAVERE THERAPEUTICS INC	54,900	$1.631M	0.1%	—	—	PUT	89422G107

Decreased Positions (6)

BCRX BIOCRYST PHARMACEUTICALS INC 1.4%

Value $25.23M (-53.4%) Shares 2,522,660 (-55.6%) Est. Cost — Unrealized —

COGT COGENT BIOSCIENCES INC 7.8%

Value $142M (-8.7%) Shares 3,667,097 (-9.2%) Est. Cost — Unrealized —

CLDX CELLDEX THERAPEUTICS INC NEW 10.9%

Value $198M (+6.9%) Shares 5,322,908 (-8.9%) Est. Cost — Unrealized —

VERA VERA THERAPEUTICS INC 6.9%

Value $124M (-9.3%) Shares 2,890,059 (-15.0%) Est. Cost — Unrealized —

BEAM BEAM THERAPEUTICS INC 5.4%

Value $97.5M (+11.1%) Shares 2,840,792 (-22.9%) Est. Cost — Unrealized —

CADL CANDEL THERAPEUTICS INC 0.1%

Value $996K (+1.7%) Shares 96,741 (-51.6%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BCRX	BIOCRYST PHARMACEUTICALS INC	2,522,660 (-55.6%)	$25.23M (-53.4%)	1.4%	—	—	COM	09058V103
COGT	COGENT BIOSCIENCES INC	3,667,097 (-9.2%)	$142M (-8.7%)	7.8%	—	—	COM	19240Q201
CLDX	CELLDEX THERAPEUTICS INC NEW	5,322,908 (-8.9%)	$198M (+6.9%)	10.9%	—	—	COM NEW	15117B202
VERA	VERA THERAPEUTICS INC	2,890,059 (-15.0%)	$124M (-9.3%)	6.9%	—	—	CL A	92337R101
BEAM	BEAM THERAPEUTICS INC	2,840,792 (-22.9%)	$97.5M (+11.1%)	5.4%	—	—	COM	07373V105
CADL	CANDEL THERAPEUTICS INC	96,741 (-51.6%)	$996K (+1.7%)	0.1%	—	—	COM	137404109

Unchanged Positions (10)

MBX MBX BIOSCIENCES INC 2.9%

Value $51.6M Shares 934,799 Est. Cost — Unrealized —

CGEM CULLINAN THERAPEUTICS INC 3.1%

Value $56.71M Shares 3,114,132 Est. Cost — Unrealized —

SNDX SYNDAX PHARMACEUTICALS INC 9.7%

Value $176M Shares 8,050,959 Est. Cost — Unrealized —

NRIX NURIX THERAPEUTICS INC 1.6%

Value $28.98M Shares 1,194,757 Est. Cost — Unrealized —

BNR BURNING ROCK BIOTECH LTD 0.6%

Value $10.52M Shares 1,238,563 Est. Cost — Unrealized —

STRO SUTRO BIOPHARMA INC 1.6%

Value $28.97M Shares 872,558 Est. Cost — Unrealized —

GERN GERON CORP 0.5%

Value $8.75M Shares 6,836,318 Est. Cost — Unrealized —

PRQR PROQR THRAPEUTICS N V 0.2%

Value $2.913M Shares 1,566,317 Est. Cost — Unrealized —

CRBU CARIBOU BIOSCIENCES INC 0.2%

Value $4.406M Shares 2,503,302 Est. Cost — Unrealized —

PCVX VAXCYTE INC 9.4%

Value $170M Shares 2,922,335 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MBX	MBX BIOSCIENCES INC	934,799	$51.6M	2.9%	—	—	COM	55287L101
CGEM	CULLINAN THERAPEUTICS INC	3,114,132	$56.71M	3.1%	—	—	COM	230031106
SNDX	SYNDAX PHARMACEUTICALS INC	8,050,959	$176M	9.7%	—	—	COM	87164F105
NRIX	NURIX THERAPEUTICS INC	1,194,757	$28.98M	1.6%	—	—	COM	67080M103
BNR	BURNING ROCK BIOTECH LTD	1,238,563	$10.52M	0.6%	—	—	SPONSORED ADS	12233L206
STRO	SUTRO BIOPHARMA INC	872,558	$28.97M	1.6%	—	—	COM SHS	869367201
GERN	GERON CORP	6,836,318	$8.75M	0.5%	—	—	COM	374163103
PRQR	PROQR THRAPEUTICS N V	1,566,317	$2.913M	0.2%	—	—	SHS EURO	N71542109
CRBU	CARIBOU BIOSCIENCES INC	2,503,302	$4.406M	0.2%	—	—	COM	142038108
PCVX	VAXCYTE INC	2,922,335	$170M	9.4%	—	—	COM	92243G108