Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
KPTI	Karyopharm Therapeutics Inc	685,644	$6.699M	3.9%	$9.77	—	—	48576U205
IFRX	Inflarx Nv	2,897,769	$6.491M	3.7%	$2.24	—	—	N44821101
CYCN	Cyclerion Therapeutics Inc	1,651,350	$5.598M	3.2%	$3.39	—	—	23255M204
ANL	Adlai Nortye	226,415	$2.604M	1.5%	$11.50	—	—	00704R109
NVCT	Nuvectis Pharma Inc	100,000	$1.839M	1.1%	$18.39	—	—	67080T108
MIST	Milestone Pharmaceuticals Inc	1,269,237	$1.701M	1.0%	$1.34	—	—	59935V107
ATYR	Atyr Pharma Inc	1,788,167	$1.067M	0.6%	$0.60	—	—	002120202
TCRX	Tscan Therapeutics Inc	454,876	$446K	0.3%	$0.98	—	—	89854M101

Increased Positions (6)

BOXX EA SERIES TRUST 15.2%

Value $26.48M (+92.3%) Shares 226,188 (+91.0%) Est. Cost $116.05 Unrealized —

MANE Veradermics Inc 10.3%

Value $17.91M (+175.7%) Shares 145,695 (+41.6%) Est. Cost $80.72 Unrealized —

ACRS Aclaris Therapeutics Inc 5.6%

Value $9.693M (+93.3%) Shares 1,832,365 (+37.0%) Est. Cost $3.86 Unrealized —

KRRO Korro Bio Inc 3.1%

Value $5.338M (+331.2%) Shares 405,040 (+270.3%) Est. Cost $12.54 Unrealized —

IKT Inhibikase Therapeutics Inc 4.5%

Value $7.758M (+72.8%) Shares 3,821,890 (+43.0%) Est. Cost $1.76 Unrealized —

GOSS Gossamer Bio Inc 1.1%

Value $1.835M (-25.2%) Shares 11,149,363 (+49.2%) Est. Cost $1.57 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BOXX	EA SERIES TRUST	226,188 (+91.0%)	$26.48M (+92.3%)	15.2%	$116.05	—	—	02072L565
MANE	Veradermics Inc	145,695 (+41.6%)	$17.91M (+175.7%)	10.3%	$80.72	—	—	922967104
ACRS	Aclaris Therapeutics Inc	1,832,365 (+37.0%)	$9.693M (+93.3%)	5.6%	$3.86	—	—	00461U105
KRRO	Korro Bio Inc	405,040 (+270.3%)	$5.338M (+331.2%)	3.1%	$12.54	—	—	500946108
IKT	Inhibikase Therapeutics Inc	3,821,890 (+43.0%)	$7.758M (+72.8%)	4.5%	$1.76	—	—	45719W205
GOSS	Gossamer Bio Inc	11,149,363 (+49.2%)	$1.835M (-25.2%)	1.1%	$1.57	—	—	38341P102

Exited Positions (7)

RLAY Relay Therapeutics Inc 5.2%

Value $8.969M Shares 901,457 Est. Cost $7.14 Unrealized —

ORKA Oruka Therapeutics Inc 3.3%

Value $5.814M Shares 118,524 Est. Cost $27.86 Unrealized —

TNYA Tenaya Therapeutics Inc 0.8%

Value $1.385M Shares 2,000,000 Est. Cost $1.36 Unrealized —

PEPG PepGen Inc 0.7%

Value $1.292M Shares 729,961 Est. Cost $5.83 Unrealized —

KLRS Kalaris Therapeutics Inc 0.4%

Value $782K Shares 135,585 Est. Cost $6.39 Unrealized —

DMAC DiaMedica Therapeutics Inc 0.2%

Value $423K Shares 62,488 Est. Cost $7.48 Unrealized —

LOOP LONGEVERON INC 0.2%

Value $361K Shares 347,539 Est. Cost $1.20 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
RLAY	Relay Therapeutics Inc	901,457	$8.969M	5.2%	$7.14	—	—	75943R102
ORKA	Oruka Therapeutics Inc	118,524	$5.814M	3.3%	$27.86	—	—	687604108
TNYA	Tenaya Therapeutics Inc	2,000,000	$1.385M	0.8%	$1.36	—	—	87990A106
PEPG	PepGen Inc	729,961	$1.292M	0.7%	$5.83	—	—	713317105
KLRS	Kalaris Therapeutics Inc	135,585	$782K	0.4%	$6.39	—	—	482929106
DMAC	DiaMedica Therapeutics Inc	62,488	$423K	0.2%	$7.48	—	—	25253X207
LOOP	LONGEVERON INC	347,539	$361K	0.2%	$1.20	—	—	543518104

Decreased Positions (2)

TIL Instil Bio Inc 0.4%

Value $766K (-33.5%) Shares 99,600 (-28.8%) Est. Cost $7.86 Unrealized —

QURE Uniqure Nv 2.1%

Value $3.657M (+5.7%) Shares 79,407 (-62.5%) Est. Cost $23.55 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TIL	Instil Bio Inc	99,600 (-28.8%)	$766K (-33.5%)	0.4%	$7.86	—	—	45783C200
QURE	Uniqure Nv	79,407 (-62.5%)	$3.657M (+5.7%)	2.1%	$23.55	—	—	N90064101

Unchanged Positions (10)

CMPS Compass Pathways Plc 6.7%

Value $11.6M Shares 819,692 Est. Cost $6.90 Unrealized —

XFOR X4 Pharmaceuticals Inc 10.0%

Value $17.39M Shares 3,722,840 Est. Cost $3.63 Unrealized —

SEPN Septerna Inc 3.7%

Value $6.515M Shares 194,544 Est. Cost $23.88 Unrealized —

PHVS Pharvaris NV 4.0%

Value $6.874M Shares 198,772 Est. Cost $24.09 Unrealized —

SRZN Surrozen Inc 5.7%

Value $9.995M Shares 385,178 Est. Cost $16.18 Unrealized —

SION Sionna Therapeutics Inc 5.0%

Value $8.669M Shares 197,072 Est. Cost $37.92 Unrealized —

TYRA Tyra Biosciences Inc 1.4%

Value $2.378M Shares 74,465 Est. Cost $18.37 Unrealized —

LONA LeonaBio Inc 2.1%

Value $3.618M Shares 393,701 Est. Cost $4.58 Unrealized —

MLTX MoonLake Immunotherapeutics 2.0%

Value $3.422M Shares 175,734 Est. Cost $11.80 Unrealized —

GLTO Damora Therapeutics Inc 2.1%

Value $3.615M Shares 139,000 Est. Cost $25.80 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CMPS	Compass Pathways Plc	819,692	$11.6M	6.7%	$6.90	—	—	20451W101
XFOR	X4 Pharmaceuticals Inc	3,722,840	$17.39M	10.0%	$3.63	—	—	98420X202
SEPN	Septerna Inc	194,544	$6.515M	3.7%	$23.88	—	—	81734D104
PHVS	Pharvaris NV	198,772	$6.874M	4.0%	$24.09	—	—	N69605108
SRZN	Surrozen Inc	385,178	$9.995M	5.7%	$16.18	—	—	86889P208
SION	Sionna Therapeutics Inc	197,072	$8.669M	5.0%	$37.92	—	—	829401108
TYRA	Tyra Biosciences Inc	74,465	$2.378M	1.4%	$18.37	—	—	90240B106
LONA	LeonaBio Inc	393,701	$3.618M	2.1%	$4.58	—	—	04746L203
MLTX	MoonLake Immunotherapeutics	175,734	$3.422M	2.0%	$11.80	—	—	61559X104
GLTO	Damora Therapeutics Inc	139,000	$3.615M	2.1%	$25.80	—	—	36322Q206