Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ERAS	ERASCA INC	3,175,000	$51.37M	3.0%	$10.02	0.0%	COM	29479A108
GLTO	DAMORA THERAPEUTICS INC	1,939,000	$50.22M	2.9%	$25.80	0.0%	COM NEW	36322Q206
DFTX	DEFINIUM THERAPEUTICS INC	2,000,000	$37.8M	2.2%	$16.29	0.0%	COM SHS	24477V105
EYPT	EYEPOINT INC	2,825,000	$36.41M	2.1%	$15.22	0.0%	COM NEW	30233G209
CRVS	CORVUS PHARMACEUTICALS INC	2,258,735	$33.05M	1.9%	$16.29	0.0%	COM	221015100
CATX	PERSPECTIVE THERAPEUTICS INC	6,336,782	$26.42M	1.5%	$3.84	0.0%	COM NEW	46489V302
OCUL	OCULAR THERAPEUTIX INC	2,575,000	$21.81M	1.3%	$9.83	0.0%	COM	67576A100
IPSC	CENTURY THERAPEUTICS INC	8,695,652	$19.65M	1.1%	$1.94	0.0%	COM	15673T100
ZURA	ZURA BIO LTD	3,250,000	$19.34M	1.1%	$5.88	0.0%	CLASS A ORD SHS	G9TY5A101
KPTI	KARYOPHARM THERAPEUTICS INC	1,950,000	$10.86M	0.6%	$7.62	0.0%	COM NEW	48576U205
ANTX	AN2 THERAPEUTICS INC	2,333,713	$7.981M	0.5%	$1.13	0.0%	COM	037326105
HLXC	HELIX ACQUISITION CORP III	500,000	$5.08M	0.3%	$10.16	—	USD CL A ORD SHS	G4444S107
RLMD	RELMADA THERAPEUTICS INC	633,901	$4.412M	0.3%	$4.01	0.0%	COM	75955J402

Increased Positions (7)

ALKS ALKERMES PLC 8.6%

Value $149M (+49.5%) Shares 4,200,000 (+18.3%) Est. Cost $28.03 Unrealized +15.4%

COGT COGENT BIOSCIENCES INC 6.4%

Value $111M (+42.5%) Shares 2,888,007 (+31.5%) Est. Cost $17.06 Unrealized +119.1%

NUVL NUVALENT INC 4.9%

Value $85.4M (+54.4%) Shares 833,600 (+51.6%) Est. Cost $79.68 Unrealized +30.1%

ANRO ALTO NEUROSCIENCE INC 3.5%

Value $61.22M (+88.6%) Shares 2,723,196 (+49.4%) Est. Cost $13.97 Unrealized +20.0%

CLDX CELLDEX THERAPEUTICS INC NEW 4.9%

Value $85.54M (+22.8%) Shares 2,696,616 (+5.1%) Est. Cost $22.29 Unrealized +14.0%

PEPG PEPGEN INC 0.5%

Value $7.921M (-64.2%) Shares 4,475,000 (+31.6%) Est. Cost $3.46 Unrealized +68.6%

PHVS PHARVARIS N V 3.1%

Value $54.21M (+3.4%) Shares 1,918,970 (+1.6%) Est. Cost $23.04 Unrealized +16.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ALKS	ALKERMES PLC	4,200,000 (+18.3%)	$149M (+49.5%)	8.6%	$28.03	+15.4%	SHS	G01767105
COGT	COGENT BIOSCIENCES INC	2,888,007 (+31.5%)	$111M (+42.5%)	6.4%	$17.06	+119.1%	COM	19240Q201
NUVL	NUVALENT INC	833,600 (+51.6%)	$85.4M (+54.4%)	4.9%	$79.68	+30.1%	COM	670703107
ANRO	ALTO NEUROSCIENCE INC	2,723,196 (+49.4%)	$61.22M (+88.6%)	3.5%	$13.97	+20.0%	COM SHS	02157Q109
CLDX	CELLDEX THERAPEUTICS INC NEW	2,696,616 (+5.1%)	$85.54M (+22.8%)	4.9%	$22.29	+14.0%	COM NEW	15117B202
PEPG	PEPGEN INC	4,475,000 (+31.6%)	$7.921M (-64.2%)	0.5%	$3.46	+68.6%	COM	713317105
PHVS	PHARVARIS N V	1,918,970 (+1.6%)	$54.21M (+3.4%)	3.1%	$23.04	+16.0%	COM	N69605108

Exited Positions (10)

TERN TERNS PHARMACEUTICALS INC 3.4%

Value $59.59M Shares 1,475,000 Est. Cost $6.39 Unrealized +486.6%

ORKA ORUKA THERAPEUTICS INC 3.1%

Value $53.14M Shares 1,753,054 Est. Cost $30.70 Unrealized +5.7%

PTGX PROTAGONIST THERAPEUTICS INC 2.3%

Value $39.3M Shares 450,000 Est. Cost $47.99 Unrealized +73.5%

CTMX CYTOMX THERAPEUTICS INC 1.9%

Value $32.77M Shares 7,692,300 Est. Cost $1.61 Unrealized +224.2%

— MIND MEDICINE MINDMED INC 1.5%

Value $26.78M Shares 2,000,000 Est. Cost $8.32 Unrealized —

CNTA CENTESSA PHARMACEUTICALS PLC 1.4%

Value $25.01M Shares 1,000,000 Est. Cost $15.31 Unrealized —

REPL REPLIMUNE GROUP INC 0.8%

Value $13.85M Shares 1,425,000 Est. Cost $8.50 Unrealized -8.2%

CTNM CONTINEUM THERAPEUTICS INC 0.5%

Value $9.331M Shares 816,326 Est. Cost $11.41 Unrealized +17.0%

RAPT RAPT THERAPEUTICS INC 0.5%

Value $8.467M Shares 250,000 Est. Cost $31.06 Unrealized +62.6%

DRUG BRIGHT MINDS BIOSCIENCES INC 0.1%

Value $1.471M Shares 18,851 Est. Cost $35.19 Unrealized +138.7%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TERN	TERNS PHARMACEUTICALS INC	1,475,000	$59.59M	3.4%	$6.39	+486.6%	—	880881107
ORKA	ORUKA THERAPEUTICS INC	1,753,054	$53.14M	3.1%	$30.70	+5.7%	—	687604108
PTGX	PROTAGONIST THERAPEUTICS INC	450,000	$39.3M	2.3%	$47.99	+73.5%	—	74366E102
CTMX	CYTOMX THERAPEUTICS INC	7,692,300	$32.77M	1.9%	$1.61	+224.2%	—	23284F105
—	MIND MEDICINE MINDMED INC	2,000,000	$26.78M	1.5%	$8.32	—	—	60255C885
CNTA	CENTESSA PHARMACEUTICALS PLC	1,000,000	$25.01M	1.4%	$15.31	—	—	152309100
REPL	REPLIMUNE GROUP INC	1,425,000	$13.85M	0.8%	$8.50	-8.2%	—	76029N106
CTNM	CONTINEUM THERAPEUTICS INC	816,326	$9.331M	0.5%	$11.41	+17.0%	—	21217B100
RAPT	RAPT THERAPEUTICS INC	250,000	$8.467M	0.5%	$31.06	+62.6%	—	75382E208
DRUG	BRIGHT MINDS BIOSCIENCES INC	18,851	$1.471M	0.1%	$35.19	+138.7%	—	10919W405

Decreased Positions (6)

ELVN ENLIVEN THERAPEUTICS INC 7.4%

Value $128M (+77.6%) Shares 3,275,000 (-30.2%) Est. Cost $19.08 Unrealized +34.2%

SLNO SOLENO THERAPEUTICS INC 1.3%

Value $21.84M (-60.7%) Shares 652,432 (-45.6%) Est. Cost $58.91 Unrealized -29.3%

XENE XENON PHARMACEUTICALS INC 2.8%

Value $47.97M (-40.5%) Shares 825,000 (-54.2%) Est. Cost $30.82 Unrealized +36.2%

SYRE SPYRE THERAPEUTICS INC 5.6%

Value $96.46M (+23.3%) Shares 1,912,380 (-19.9%) Est. Cost $16.69 Unrealized +106.9%

PALI PALISADE BIO INC 0.7%

Value $12.57M (-53.3%) Shares 7,181,062 (-37.3%) Est. Cost $1.92 Unrealized -7.2%

TYRA TYRA BIOSCIENCES INC 5.5%

Value $94.79M (+6.8%) Shares 2,475,000 (-26.7%) Est. Cost $10.62 Unrealized +184.7%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ELVN	ENLIVEN THERAPEUTICS INC	3,275,000 (-30.2%)	$128M (+77.6%)	7.4%	$19.08	+34.2%	COM	29337E102
SLNO	SOLENO THERAPEUTICS INC	652,432 (-45.6%)	$21.84M (-60.7%)	1.3%	$58.91	-29.3%	COM	834203309
XENE	XENON PHARMACEUTICALS INC	825,000 (-54.2%)	$47.97M (-40.5%)	2.8%	$30.82	+36.2%	COM	98420N105
SYRE	SPYRE THERAPEUTICS INC	1,912,380 (-19.9%)	$96.46M (+23.3%)	5.6%	$16.69	+106.9%	COM NEW	00773J202
PALI	PALISADE BIO INC	7,181,062 (-37.3%)	$12.57M (-53.3%)	0.7%	$1.92	-7.2%	COM	696389402
TYRA	TYRA BIOSCIENCES INC	2,475,000 (-26.7%)	$94.79M (+6.8%)	5.5%	$10.62	+184.7%	COM	90240B106

Unchanged Positions (10)

RLAY RELAY THERAPEUTICS INC 9.8%

Value $169M Shares 17,000,000 Est. Cost $3.15 Unrealized +163.2%

AMLX AMYLYX PHARMACEUTICALS INC 4.5%

Value $78.53M Shares 5,650,000 Est. Cost $10.57 Unrealized +32.3%

NRIX NURIX THERAPEUTICS INC 2.0%

Value $35.26M Shares 2,275,000 Est. Cost $21.29 Unrealized -18.6%

ASMB ASSEMBLY BIOSCIENCES INC 1.6%

Value $27.75M Shares 1,000,000 Est. Cost $21.94 Unrealized +29.9%

KYMR KYMERA THERAPEUTICS INC 3.6%

Value $62.47M Shares 750,000 Est. Cost $34.43 Unrealized +125.3%

LBRX LB PHARMACEUTICALS INC 2.1%

Value $36.99M Shares 1,500,000 Est. Cost $15.87 Unrealized +41.1%

IKT INHIBIKASE THERAPEUTICS INC 0.5%

Value $9.068M Shares 5,397,488 Est. Cost $2.49 Unrealized -30.5%

AVTX AVALO THERAPEUTICS INC 0.4%

Value $7.211M Shares 483,000 Est. Cost $10.53 Unrealized +47.2%

LONA LEONABIO INC 0.3%

Value $4.774M Shares 464,398 Est. Cost $4.58 Unrealized +22.8%

SABS SAB BIOTHERAPEUTICS INC 1.0%

Value $16.86M Shares 4,401,500 Est. Cost $2.26 Unrealized +77.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
RLAY	RELAY THERAPEUTICS INC	17,000,000	$169M	9.8%	$3.15	+163.2%	COM	75943R102
AMLX	AMYLYX PHARMACEUTICALS INC	5,650,000	$78.53M	4.5%	$10.57	+32.3%	COM	03237H101
NRIX	NURIX THERAPEUTICS INC	2,275,000	$35.26M	2.0%	$21.29	-18.6%	COM	67080M103
ASMB	ASSEMBLY BIOSCIENCES INC	1,000,000	$27.75M	1.6%	$21.94	+29.9%	COM NEW	045396207
KYMR	KYMERA THERAPEUTICS INC	750,000	$62.47M	3.6%	$34.43	+125.3%	COM	501575104
LBRX	LB PHARMACEUTICALS INC	1,500,000	$36.99M	2.1%	$15.87	+41.1%	COM SHS	50180M108
IKT	INHIBIKASE THERAPEUTICS INC	5,397,488	$9.068M	0.5%	$2.49	-30.5%	COM NEW	45719W205
AVTX	AVALO THERAPEUTICS INC	483,000	$7.211M	0.4%	$10.53	+47.2%	COM NEW	05338F306
LONA	LEONABIO INC	464,398	$4.774M	0.3%	$4.58	+22.8%	COM	04746L203
SABS	SAB BIOTHERAPEUTICS INC	4,401,500	$16.86M	1.0%	$2.26	+77.0%	COM NEW	78397T202