Squadron Capital Management LLC Hedge Fund

Location: Westmont, IL

CIK: 0002050709 · Show all filings

Period: Q1 2026 (← Previous) (Next →)

Filing Date: May 15, 2026

Total Value: $273M (100.0% shares, 0.0% debt)

Holdings (37)

RLMD RELMADA THERAPEUTICS INC 21.6%

Value $58.98M Shares 8,474,571 Share Price $6.96 * Est. Cost/Share $3.49 Unrealized @ Report Date +15.0%

COGT COGENT BIOSCIENCES INC 11.1%

Value $30.31M Shares 787,492 Share Price $38.49 * Est. Cost/Share $28.11 Unrealized @ Report Date +32.9%

KALV KALVISTA PHARMACEUTICALS INC 7.3%

Value $19.83M Shares 985,100 Share Price $20.13 * Est. Cost/Share $13.89 Unrealized @ Report Date +11.5%

KOD KODIAK SCIENCES INC 5.3%

Value $14.49M Shares 380,000 Share Price $38.12 * Est. Cost/Share $21.63 Unrealized @ Report Date +17.6%

ABVX ABIVAX SA 5.3%

Value $14.48M Shares 130,000 Share Price $111.35 Est. Cost/Share $134.85 Unrealized @ Report Date —

EWTX EDGEWISE THERAPEUTICS INC 4.0%

Value $11.03M Shares 350,000 Share Price $31.50 * Est. Cost/Share $20.07 Unrealized @ Report Date +40.4%

NKTR NEKTAR THERAPEUTICS 3.3%

Value $8.994M Shares 125,000 Share Price $71.95 * Est. Cost/Share $48.33 Unrealized @ Report Date 0.0%

ANL ADLAI NORTYE LTD 3.2%

Value $8.755M Shares 1,265,231 Share Price $6.92 Est. Cost/Share $6.92 Unrealized @ Report Date —

ZNTL ZENTALIS PHARMACEUTICALS INC 3.1%

Value $8.497M Shares 3,631,000 Share Price $2.34 * Est. Cost/Share $2.61 Unrealized @ Report Date 0.0%

MAZE MAZE THERAPEUTICS INC 2.8%

Value $7.686M Shares 257,500 Share Price $29.85 * Est. Cost/Share $34.37 Unrealized @ Report Date +28.1%

SCYX SCYNEXIS INC 2.6%

Value $6.976M Shares 7,608,695 Share Price $0.92 * Est. Cost/Share $0.73 Unrealized @ Report Date 0.0%

RLAY RELAY THERAPEUTICS INC 2.5%

Value $6.691M Shares 672,500 Share Price $9.95 * Est. Cost/Share $8.30 Unrealized @ Report Date 0.0%

KALV KALVISTA PHARMACEUTICALS INC 2.3%

Value $6.341M Shares 315,000 Share Price $20.13 * Est. Cost/Share $13.89 Unrealized @ Report Date +11.5%

CCCC C4 THERAPEUTICS INC 2.2%

Value $5.918M Shares 2,250,000 Share Price $2.63 * Est. Cost/Share $2.09 Unrealized @ Report Date 0.0%

IKT INHIBIKASE THERAPEUTICS INC 2.2%

Value $5.88M Shares 3,500,000 Share Price $1.68 * Est. Cost/Share $1.59 Unrealized @ Report Date +9.0%

PALI PALISADE BIO INC 1.9%

Value $5.25M Shares 3,000,000 Share Price $1.75 Est. Cost/Share $1.92 Unrealized @ Report Date -7.2%

EPRX EUPRAXIA PHARMACEUTICALS INC 1.8%

Value $4.923M Shares 680,000 Share Price $7.24 * Est. Cost/Share $6.75 Unrealized @ Report Date +24.1%

GHRS GH RESEARCH PLC 1.7%

Value $4.569M Shares 325,000 Share Price $14.06 * Est. Cost/Share $13.69 Unrealized @ Report Date +14.8%

KPTI KARYOPHARM THERAPEUTICS INC 1.5%

Value $4.178M Shares 750,000 Share Price $5.57 Est. Cost/Share — Unrealized @ Report Date —

PMN PROMIS NEUROSCIENCES INC 1.5%

Value $4.127M Shares 324,977 Share Price $12.70 * Est. Cost/Share $12.16 Unrealized @ Report Date 0.0%

IDYA IDEAYA BIOSCIENCES INC 1.5%

Value $3.998M Shares 120,000 Share Price $33.32 Est. Cost/Share — Unrealized @ Report Date —

LPCN LIPOCINE INC NEW 1.3%

Value $3.595M Shares 450,000 Share Price $7.99 * Est. Cost/Share $3.36 Unrealized @ Report Date +173.4%

IDYA IDEAYA BIOSCIENCES INC 1.3%

Value $3.475M Shares 104,300 Share Price $33.32 Est. Cost/Share — Unrealized @ Report Date —

IVA INVENTIVA SA 1.1%

Value $2.969M Shares 535,000 Share Price $5.55 Est. Cost/Share $5.05 Unrealized @ Report Date —

ALXO ALX ONCOLOGY HLDGS INC 1.1%

Value $2.927M Shares 1,460,000 Share Price $2.00 * Est. Cost/Share $1.77 Unrealized @ Report Date 0.0%

CNTX CONTEXT THERAPEUTICS INC 1.1%

Value $2.882M Shares 1,100,000 Share Price $2.62 * Est. Cost/Share $2.05 Unrealized @ Report Date 0.0%

NXTC NEXTCURE INC 1.0%

Value $2.83M Shares 265,000 Share Price $10.68 * Est. Cost/Share $10.60 Unrealized @ Report Date +18.7%

AVBP ARRIVENT BIOPHARMA INC 0.9%

Value $2.538M Shares 110,000 Share Price $23.07 Est. Cost/Share — Unrealized @ Report Date —

SLGL SOL-GEL TECHNOLOGIES LTD 0.9%

Value $2.456M Shares 31,000 Share Price $79.22 * Est. Cost/Share $66.40 Unrealized @ Report Date 0.0%

KTTA PASITHEA THERAPEUTICS CORP 0.6%

Value $1.558M Shares 2,100,000 Share Price $0.74 * Est. Cost/Share $0.88 Unrealized @ Report Date -2.3%

RLAY RELAY THERAPEUTICS INC 0.5%

Value $1.492M Shares 150,000 Share Price $9.95 * Est. Cost/Share $8.30 Unrealized @ Report Date 0.0%

TRAW TRAWS PHARMA INC 0.3%

Value $936K Shares 511,714 Share Price $1.83 Est. Cost/Share $2.22 Unrealized @ Report Date -15.8%

ZNTL ZENTALIS PHARMACEUTICALS INC 0.3%

Value $936K Shares 400,000 Share Price $2.34 * Est. Cost/Share $2.61 Unrealized @ Report Date 0.0%

TXMD THERAPEUTICSMD INC 0.3%

Value $849K Shares 420,421 Share Price $2.02 * Est. Cost/Share $2.27 Unrealized @ Report Date 0.0%

SPRB SPRUCE BIOSCIENCES INC 0.3%

Value $797K Shares 12,200 Share Price $65.35 * Est. Cost/Share $107.14 Unrealized @ Report Date -30.4%

HOWL WEREWOLF THERAPEUTICS INC 0.2%

Value $469K Shares 563,535 Share Price $0.83 * Est. Cost/Share $0.64 Unrealized @ Report Date 0.0%

NEUP NEUPHORIA THERAPEUTICS INC 0.1%

Value $312K Shares 76,728 Share Price $4.07 Est. Cost/Share $4.10 Unrealized @ Report Date 0.0%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
RLMD	RELMADA THERAPEUTICS INC	8,474,571	$58.98M	21.6%	$6.96 *	$3.49	+15.0%	COM	75955J402
COGT	COGENT BIOSCIENCES INC	787,492	$30.31M	11.1%	$38.49 *	$28.11	+32.9%	COM	19240Q201
KALV	KALVISTA PHARMACEUTICALS INC	985,100	$19.83M	7.3%	$20.13 *	$13.89	+11.5%	COM	483497103
KOD	KODIAK SCIENCES INC	380,000	$14.49M	5.3%	$38.12 *	$21.63	+17.6%	COM	50015M109
ABVX	ABIVAX SA	130,000	$14.48M	5.3%	$111.35	$134.85	—	SPONSORED ADS	00370M103
EWTX	EDGEWISE THERAPEUTICS INC	350,000	$11.03M	4.0%	$31.50 *	$20.07	+40.4%	COM	28036F105
NKTR	NEKTAR THERAPEUTICS	125,000	$8.994M	3.3%	$71.95 *	$48.33	0.0%	COM NEW	640268306
ANL	ADLAI NORTYE LTD	1,265,231	$8.755M	3.2%	$6.92	$6.92	—	SPONSORED ADS	00704R109
ZNTL	ZENTALIS PHARMACEUTICALS INC	3,631,000	$8.497M	3.1%	$2.34 *	$2.61	0.0%	COM	98943L107
MAZE	MAZE THERAPEUTICS INC	257,500	$7.686M	2.8%	$29.85 *	$34.37	+28.1%	COM	578784100
SCYX	SCYNEXIS INC	7,608,695	$6.976M	2.6%	$0.92 *	$0.73	0.0%	COM NEW	811292200
RLAY	RELAY THERAPEUTICS INC	672,500	$6.691M	2.5%	$9.95 *	$8.30	0.0%	COM	75943R102
KALV	KALVISTA PHARMACEUTICALS INC	315,000	$6.341M	2.3%	$20.13 *	$13.89	+11.5%	Call	483497103
CCCC	C4 THERAPEUTICS INC	2,250,000	$5.918M	2.2%	$2.63 *	$2.09	0.0%	COM STK	12529R107
IKT	INHIBIKASE THERAPEUTICS INC	3,500,000	$5.88M	2.2%	$1.68 *	$1.59	+9.0%	COM NEW	45719W205
PALI	PALISADE BIO INC	3,000,000	$5.25M	1.9%	$1.75	$1.92	-7.2%	COM	696389402
EPRX	EUPRAXIA PHARMACEUTICALS INC	680,000	$4.923M	1.8%	$7.24 *	$6.75	+24.1%	COM	29842P105
GHRS	GH RESEARCH PLC	325,000	$4.569M	1.7%	$14.06 *	$13.69	+14.8%	ORDINARY SHARES	G3855L106
KPTI	KARYOPHARM THERAPEUTICS INC	750,000	$4.178M	1.5%	$5.57	—	—	Put	48576U205
PMN	PROMIS NEUROSCIENCES INC	324,977	$4.127M	1.5%	$12.70 *	$12.16	0.0%	COM SHS	74346M505
IDYA	IDEAYA BIOSCIENCES INC	120,000	$3.998M	1.5%	$33.32	—	—	Put	45166A102
LPCN	LIPOCINE INC NEW	450,000	$3.595M	1.3%	$7.99 *	$3.36	+173.4%	COM NEW	53630X203
IDYA	IDEAYA BIOSCIENCES INC	104,300	$3.475M	1.3%	$33.32	—	—	Call	45166A102
IVA	INVENTIVA SA	535,000	$2.969M	1.1%	$5.55	$5.05	—	ADS	46124U107
ALXO	ALX ONCOLOGY HLDGS INC	1,460,000	$2.927M	1.1%	$2.00 *	$1.77	0.0%	COM	00166B105
CNTX	CONTEXT THERAPEUTICS INC	1,100,000	$2.882M	1.1%	$2.62 *	$2.05	0.0%	COM	21077P108
NXTC	NEXTCURE INC	265,000	$2.83M	1.0%	$10.68 *	$10.60	+18.7%	COM NEW	65343E207
AVBP	ARRIVENT BIOPHARMA INC	110,000	$2.538M	0.9%	$23.07	—	—	Call	04272N102
SLGL	SOL-GEL TECHNOLOGIES LTD	31,000	$2.456M	0.9%	$79.22 *	$66.40	0.0%	SHS NEW	M8694L137
KTTA	PASITHEA THERAPEUTICS CORP	2,100,000	$1.558M	0.6%	$0.74 *	$0.88	-2.3%	COM NEW	70261F202
RLAY	RELAY THERAPEUTICS INC	150,000	$1.492M	0.5%	$9.95 *	$8.30	0.0%	Call	75943R102
TRAW	TRAWS PHARMA INC	511,714	$936K	0.3%	$1.83	$2.22	-15.8%	COM NEW	68232V884
ZNTL	ZENTALIS PHARMACEUTICALS INC	400,000	$936K	0.3%	$2.34 *	$2.61	0.0%	Call	98943L107
TXMD	THERAPEUTICSMD INC	420,421	$849K	0.3%	$2.02 *	$2.27	0.0%	COM NEW	88338N206
SPRB	SPRUCE BIOSCIENCES INC	12,200	$797K	0.3%	$65.35 *	$107.14	-30.4%	COM NEW	85209E208
HOWL	WEREWOLF THERAPEUTICS INC	563,535	$469K	0.2%	$0.83 *	$0.64	0.0%	COM	95075A107
NEUP	NEUPHORIA THERAPEUTICS INC	76,728	$312K	0.1%	$4.07	$4.10	0.0%	COM	64136E102