5AM Venture Management, LLC Long-Term Concentrated

CIK: 0001799883 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $318,103 (100.0% shares, 0.0% debt)

Holdings (21)

New Positions (1)

MPLT MAPLIGHT THERAPEUTICS INC 5.2%

Value ($000) $16,687 Shares 950,011 Est. Cost $16.75 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MPLT	MAPLIGHT THERAPEUTICS INC	950,011	$16,687	5.2%	$16.75	0.0%	COM	56565P103

Increased Positions (6)

TYRA TYRA BIOSCIENCES INC 8.5%

Value ($000) $27,060 (+105.9%) Shares 1,029,298 (+9.6%) Est. Cost $15.46 Unrealized +18.8%

SRZN SURROZEN INC 2.8%

Value ($000) $8,758 (+119.2%) Shares 387,500 (+25.0%) Est. Cost $12.54 Unrealized +29.1%

TECX TECTONIC THERAPEUTIC INC 4.0%

Value ($000) $12,655 (+57.6%) Shares 606,660 (+18.6%) Est. Cost $16.21 Unrealized +14.6%

ZNTL ZENTALIS PHARMACEUTICALS INC 1.7%

Value ($000) $5,330 (+620.3%) Shares 3,947,913 (+705.7%) Est. Cost $4.25 Unrealized -65.8%

TARA PROTARA THERAPEUTICS INC 2.3%

Value ($000) $7,301 (+109.8%) Shares 1,369,782 (+71.2%) Est. Cost $4.20 Unrealized +32.4%

BHVN BIOHAVEN LTD 2.6%

Value ($000) $8,343 (+16.0%) Shares 738,972 (+54.3%) Est. Cost $26.32 Unrealized -52.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TYRA	TYRA BIOSCIENCES INC	1,029,298 (+9.6%)	$27,060 (+105.9%)	8.5%	$15.46	+18.8%	COM	90240B106
SRZN	SURROZEN INC	387,500 (+25.0%)	$8,758 (+119.2%)	2.8%	$12.54	+29.1%	COM NEW	86889P208
TECX	TECTONIC THERAPEUTIC INC	606,660 (+18.6%)	$12,655 (+57.6%)	4.0%	$16.21	+14.6%	COM	878972108
ZNTL	ZENTALIS PHARMACEUTICALS INC	3,947,913 (+705.7%)	$5,330 (+620.3%)	1.7%	$4.25	-65.8%	COM	98943L107
TARA	PROTARA THERAPEUTICS INC	1,369,782 (+71.2%)	$7,301 (+109.8%)	2.3%	$4.20	+32.4%	COM STK	74365U107
BHVN	BIOHAVEN LTD	738,972 (+54.3%)	$8,343 (+16.0%)	2.6%	$26.32	-52.9%	COM	G1110E107

Exited Positions (5)

DNTH DIANTHUS THERAPEUTICS INC 4.5%

Value ($000) $14,365 Shares 365,053 Est. Cost $12.62 Unrealized +207.3%

PRAX PRAXIS PRECISION MEDICINES I 2.8%

Value ($000) $9,010 Shares 170,000 Est. Cost $44.86 Unrealized +315.1%

ALEC ALECTOR INC 0.9%

Value ($000) $2,948 Shares 995,841 Est. Cost $3.76 Unrealized -52.9%

— ADVERUM BIOTECHNOLOGIES INC 0.8%

Value ($000) $2,454 Shares 541,666 Est. Cost $14.14 Unrealized —

— MERSANA THERAPEUTICS INC 0.1%

Value ($000) $405 Shares 52,200 Est. Cost $7.76 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DNTH	DIANTHUS THERAPEUTICS INC	365,053	$14,365	4.5%	$12.62	+207.3%	—	252828108
PRAX	PRAXIS PRECISION MEDICINES I	170,000	$9,010	2.8%	$44.86	+315.1%	—	74006W207
ALEC	ALECTOR INC	995,841	$2,948	0.9%	$3.76	-52.9%	—	014442107
—	ADVERUM BIOTECHNOLOGIES INC	541,666	$2,454	0.8%	$14.14	—	—	00773U207
—	MERSANA THERAPEUTICS INC	52,200	$405	0.1%	$7.76	—	—	59045L205

Decreased Positions (2)

TRDA ENTRADA THERAPEUTICS INC 13.1%

Value ($000) $41,700 (+68.9%) Shares 4,056,379 (-4.7%) Est. Cost $17.12 Unrealized —

CNTA CENTESSA PHARMACEUTICALS PLC 4.6%

Value ($000) $14,529 (-12.0%) Shares 580,945 (-14.7%) Est. Cost $11.45 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TRDA	ENTRADA THERAPEUTICS INC	4,056,379 (-4.7%)	$41,700 (+68.9%)	13.1%	$17.12	—	COM	29384C108
CNTA	CENTESSA PHARMACEUTICALS PLC	580,945 (-14.7%)	$14,529 (-12.0%)	4.6%	$11.45	—	SPONSORED ADS	152309100

Unchanged Positions (12)

SKYE SKYE BIOSCIENCE INC 2.3%

Value ($000) $7,258 Shares 9,681,763 Est. Cost $11.84 Unrealized -87.7%

CAMP CAMP4 THERAPEUTICS CORP 11.3%

Value ($000) $35,978 Shares 5,869,091 Est. Cost $5.03 Unrealized -15.4%

ERAS ERASCA INC 6.3%

Value ($000) $20,108 Shares 5,405,404 Est. Cost $2.16 Unrealized +30.3%

VRDN VIRIDIAN THERAPEUTICS INC 7.2%

Value ($000) $22,923 Shares 736,595 Est. Cost $17.93 Unrealized +52.9%

EYPT EYEPOINT INC 6.0%

Value ($000) $19,184 Shares 1,050,000 Est. Cost $9.03 Unrealized +56.9%

ELVN ENLIVEN THERAPEUTICS INC 3.7%

Value ($000) $11,896 Shares 772,477 Est. Cost $20.34 Unrealized -2.1%

ARTV ARTIVA BIOTHERAPEUTICS INC 3.2%

Value ($000) $10,096 Shares 2,353,304 Est. Cost $11.59 Unrealized -67.4%

PHVS PHARVARIS N V 7.0%

Value ($000) $22,133 Shares 797,600 Est. Cost $19.05 Unrealized +26.4%

GHRS GH RESEARCH PLC 2.3%

Value ($000) $7,273 Shares 572,665 Est. Cost $10.15 Unrealized +34.2%

— RALLYBIO CORP 0.8%

Value ($000) $2,491 Shares 3,630,724 Est. Cost $17.58 Unrealized —

CLDX CELLDEX THERAPEUTICS INC NEW 4.2%

Value ($000) $13,506 Shares 497,270 Est. Cost $32.09 Unrealized -17.9%

SLN SILENCE THERAPEUTICS PLC 0.9%

Value ($000) $2,895 Shares 476,200 Est. Cost $21.60 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SKYE	SKYE BIOSCIENCE INC	9,681,763	$7,258	2.3%	$11.84	-87.7%	COM NEW	83086J200
CAMP	CAMP4 THERAPEUTICS CORP	5,869,091	$35,978	11.3%	$5.03	-15.4%	COM	13463J101
ERAS	ERASCA INC	5,405,404	$20,108	6.3%	$2.16	+30.3%	COM	29479A108
VRDN	VIRIDIAN THERAPEUTICS INC	736,595	$22,923	7.2%	$17.93	+52.9%	COM	92790C104
EYPT	EYEPOINT INC	1,050,000	$19,184	6.0%	$9.03	+56.9%	COM NEW	30233G209
ELVN	ENLIVEN THERAPEUTICS INC	772,477	$11,896	3.7%	$20.34	-2.1%	COM	29337E102
ARTV	ARTIVA BIOTHERAPEUTICS INC	2,353,304	$10,096	3.2%	$11.59	-67.4%	COM	04317A107
PHVS	PHARVARIS N V	797,600	$22,133	7.0%	$19.05	+26.4%	COM	N69605108
GHRS	GH RESEARCH PLC	572,665	$7,273	2.3%	$10.15	+34.2%	ORDINARY SHARES	G3855L106
—	RALLYBIO CORP	3,630,724	$2,491	0.8%	$17.58	—	COM	75120L100
CLDX	CELLDEX THERAPEUTICS INC NEW	497,270	$13,506	4.2%	$32.09	-17.9%	COM NEW	15117B202
SLN	SILENCE THERAPEUTICS PLC	476,200	$2,895	0.9%	$21.60	—	ADS	82686Q101