Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LQDA	LIQUIDIA CORPORATION	662,100	$24.99M	4.3%	$28.47	+33.2%	CALL	53635D202
UTHR	UNITED THERAPEUTICS CORP DEL	40,200	$23.84M	4.1%	$475.04	+1.1%	CALL	91307C102
—	BRIDGEBIO PHARMA INC	250,000	$18.57M	3.2%	$74.26	—	NOTE 1.750% 3/0	10806XAJ1
CYTK	CYTOKINETICS INC	200,000	$13.18M	2.2%	—	—	PUT	23282W605
RVMD	REVOLUTION MEDICINES INC	125,500	$12.2M	2.1%	$73.44	+40.3%	PUT	76155X100
MRK	MERCK & CO INC	100,000	$12.03M	2.0%	—	—	PUT	58933Y105
UTHR	UNITED THERAPEUTICS CORP DEL	20,000	$11.86M	2.0%	$475.04	+1.1%	PUT	91307C102
ABVX	ABIVAX SA	100,000	$11.13M	1.9%	$107.10	—	CALL	00370M103
ABVX	ABIVAX SA	100,000	$11.13M	1.9%	$107.10	—	PUT	00370M103
JAZZ	JAZZ PHARMACEUTICALS PLC	54,755	$10.35M	1.8%	$169.07	0.0%	SHS USD	G50871105
KOD	KODIAK SCIENCES INC	246,900	$9.412M	1.6%	$25.42	0.0%	PUT	50015M109
MRNA	MODERNA INC	159,400	$8.098M	1.4%	—	—	PUT	60770K107
KOD	KODIAK SCIENCES INC	192,962	$7.356M	1.3%	$25.42	0.0%	COM	50015M109
INCY	INCYTE CORP	78,029	$7.344M	1.2%	$103.13	0.0%	COM	45337C102
EWTX	EDGEWISE THERAPEUTICS INC	212,500	$6.694M	1.1%	$20.07	+40.4%	CALL	28036F105
CORT	CORCEPT THERAPEUTICS INC	158,500	$6.389M	1.1%	$78.55	-50.6%	CALL	218352102
GPCR	STRUCTURE THERAPEUTICS INC	127,500	$6.146M	1.0%	$48.20	—	PUT	86366E106
ABBV	ABBVIE INC	24,058	$5.232M	0.9%	$222.57	0.0%	COM	00287Y109
RCUS	ARCUS BIOSCIENCES INC	238,142	$5.144M	0.9%	$21.27	0.0%	COM	03969F109
CRBP	CORBUS PHARMACEUTICALS HLDGS	439,957	$4.131M	0.7%	$8.10	0.0%	COM NEW	21833P301
QURE	UNIQURE NV	250,000	$4.088M	0.7%	$38.59	-39.0%	CALL	N90064101
CRVS	CORVUS PHARMACEUTICALS INC	244,811	$3.582M	0.6%	$16.29	0.0%	COM	221015100
ZYME	ZYMEWORKS INC	142,132	$3.559M	0.6%	$23.38	0.0%	COM	98985Y108
REPL	REPLIMUNE GROUP INC	459,900	$3.518M	0.6%	$8.50	-8.2%	PUT	76029N106
GPCR	STRUCTURE THERAPEUTICS INC	72,234	$3.482M	0.6%	$48.20	—	SPONSORED ADS	86366E106
CYTK	CYTOKINETICS INC	50,000	$3.296M	0.6%	—	—	CALL	23282W605
PCVX	VAXCYTE INC	53,100	$3.086M	0.5%	$53.59	-1.5%	CALL	92243G108
EYPT	EYEPOINT INC	178,545	$2.301M	0.4%	$15.22	0.0%	COM NEW	30233G209
BCYC	BICYCLE THERAPEUTICS PLC	476,424	$2.211M	0.4%	$4.64	—	SPONSORED ADS	088786108
ALMS	ALUMIS INC	100,000	$2.203M	0.4%	—	—	CALL	022307102
INDV	INDIVIOR PHARMACEUTICALS INC	71,376	$2.176M	0.4%	$34.29	0.0%	COM	45579U109
CELC	CELCUITY INC	17,700	$2.02M	0.3%	$107.47	0.0%	CALL	15102K100
CLYM	CLIMB BIO INC	286,126	$1.96M	0.3%	$5.00	0.0%	COM	28658R106
STTK	SHATTUCK LABS INC	293,664	$1.888M	0.3%	$4.15	0.0%	COM	82024L103
LQDA	LIQUIDIA CORPORATION	50,000	$1.887M	0.3%	$28.47	+33.2%	PUT	53635D202
TARS	TARSUS PHARMACEUTICALS INC	25,942	$1.82M	0.3%	$69.71	0.0%	COM	87650L103
ALKS	ALKERMES PLC	50,000	$1.768M	0.3%	$32.34	0.0%	SHS	G01767105
MGNX	MACROGENICS INC	600,000	$1.734M	0.3%	$1.76	0.0%	COM	556099109
VYGR	VOYAGER THERAPEUTICS INC	423,642	$1.635M	0.3%	$3.86	—	COM	92915B106
REPL	REPLIMUNE GROUP INC	205,500	$1.572M	0.3%	$8.50	-8.2%	CALL	76029N106
CRVS	CORVUS PHARMACEUTICALS INC	106,300	$1.555M	0.3%	$16.29	0.0%	CALL	221015100
CTMX	CYTOMX THERAPEUTICS INC.	316,000	$1.485M	0.3%	—	—	CALL	23284F105
EYPT	EYEPOINT INC	106,300	$1.37M	0.2%	$15.22	0.0%	CALL	30233G209
KPTI	KARYOPHARM THERAPEUTICS INC	241,300	$1.344M	0.2%	—	—	CALL	48576U205
CRBP	CORBUS PHARMACEUTICALS HLDGS	115,300	$1.083M	0.2%	$8.10	0.0%	CALL	21833P301
IOVA	IOVANCE BIOTHERAPEUTICS INC	300,000	$1.053M	0.2%	—	—	CALL	462260100
DNTH	DIANTHUS THERAPEUTICS INC	10,000	$839K	0.1%	$47.58	0.0%	COM	252828108
PHVS	PHARVARIS N V	29,321	$828K	0.1%	$26.74	0.0%	COM	N69605108
IBRX	IMMUNITYBIO INC	106,300	$815K	0.1%	—	—	PUT	45256X103
LRMR	LARIMAR THERAPEUTICS INC	166,637	$750K	0.1%	$3.46	0.0%	COM	517125100
RARE	ULTRAGENYX PHARMACEUTICAL IN	35,144	$736K	0.1%	$23.36	0.0%	COM	90400D108
UNCY	UNICYCIVE THERAPEUTICS INC	106,083	$698K	0.1%	$6.41	0.0%	COM NEW	90466Y202
ALMS	ALUMIS INC	31,200	$687K	0.1%	—	—	PUT	022307102
SPRB	SPRUCE BIOSCIENCES INC	10,000	$654K	0.1%	$74.54	0.0%	COM NEW	85209E208
PHAT	PHATHOM PHARMACEUTICALS INC	54,650	$607K	0.1%	$13.69	0.0%	COM	71722W107
CELC	CELCUITY INC	5,314	$607K	0.1%	$107.47	0.0%	COM	15102K100
VYGR	VOYAGER THERAPEUTICS INC	150,000	$579K	0.1%	$3.86	—	CALL	92915B106
OCGN	OCUGEN INC	300,000	$543K	0.1%	$1.56	0.0%	CALL	67577C105
CNTB	CONNECT BIOPHARMA HLDGS LTD	200,690	$526K	0.1%	$2.48	0.0%	SHS	G23549101
NVO	NOVO-NORDISK A S	14,577	$521K	0.1%	$35.72	—	ADR	670100205
MAZE	MAZE THERAPEUTICS INC	15,000	$448K	0.1%	$44.04	0.0%	COM	578784100
GHRS	GH RESEARCH PLC	26,836	$377K	0.1%	$15.71	0.0%	ORDINARY SHARES	G3855L106
OCGN	OCUGEN INC	200,000	$362K	0.1%	$1.56	0.0%	COM	67577C105
EPRX	EUPRAXIA PHARMACEUTICALS INC	40,000	$290K	0.0%	$8.37	0.0%	COM	29842P105
PEPG	PEPGEN INC	150,925	$267K	0.0%	$5.83	0.0%	COM	713317105
PGEN	PRECIGEN INC	55,293	$214K	0.0%	$4.50	0.0%	COM	74017N105
CMPS	COMPASS PATHWAYS PLC	31,885	$176K	0.0%	$5.53	—	SPONSORED ADS	20451W101
PASG	PASSAGE BIO INC	19,530	$153K	0.0%	$11.97	0.0%	COM NEW	702712209
RCKT	ROCKET PHARMACEUTICALS INC	30,579	$109K	0.0%	$3.61	0.0%	COM	77313F106
MNPR	MONOPAR THERAPEUTICS INC	1,630	$89,308	0.0%	$62.79	0.0%	COM NEW	61023L207
RNA	ATRIUM THERAPEUTICS INC	2,512	$33,585	0.0%	$13.37	—	COM	04965N104
CUE	CUE BIOPHARMA INC	131,997	$30,346	0.0%	$0.33	0.0%	COM	22978P106
ENTX	ENTERA BIO LTD	23,260	$25,819	0.0%	$1.50	0.0%	SHS	M40527109
IOVA	IOVANCE BIOTHERAPEUTICS INC	2,900	$10,179	0.0%	—	—	PUT	462260100
ELVN	ENLIVEN THERAPEUTICS INC	245	$9,604	0.0%	$25.60	0.0%	COM	29337E102
SEPN	SEPTERNA INC	202	$4,854	0.0%	$26.51	0.0%	COM	81734D104

Increased Positions (39)

CAPR CAPRICOR THERAPEUTICS INC 3.2%

Value $18.95M (+228.3%) Shares 623,400 (+211.7%) Est. Cost $13.06 Unrealized +90.5%

UTHR UNITED THERAPEUTICS CORP DEL 2.8%

Value $16.19M (+232.3%) Shares 27,303 (+173.0%) Est. Cost $475.04 Unrealized +1.1%

COGT COGENT BIOSCIENCES INC 2.1%

Value $12.42M (+165.3%) Shares 322,764 (+144.8%) Est. Cost $27.59 Unrealized +35.4%

VKTX VIKING THERAPEUTICS INC 2.9%

Value $17.09M (+44.2%) Shares 525,181 (+55.9%) Est. Cost $31.63 Unrealized -0.9%

RVMD REVOLUTION MEDICINES INC 1.3%

Value $7.865M (+166.7%) Shares 80,872 (+118.5%) Est. Cost $73.44 Unrealized +40.3%

IMCR IMMUNOCORE HLDGS PLC 1.0%

Value $5.825M (+138.7%) Shares 193,189 (+174.8%) Est. Cost $30.40 Unrealized —

LLY ELI LILLY & CO 0.9%

Value $5.519M (+156.8%) Shares 6,000 (+200.0%) Est. Cost $1016.57 Unrealized +3.0%

TGTX TG THERAPEUTICS INC 1.2%

Value $6.874M (+87.0%) Shares 206,928 (+67.8%) Est. Cost $32.01 Unrealized -7.3%

APGE APOGEE THERAPEUTICS INC 3.2%

Value $18.73M (+17.5%) Shares 222,500 (+5.4%) Est. Cost — Unrealized —

ROIV ROIVANT SCIENCES LTD 1.6%

Value $9.302M (+34.5%) Shares 335,800 (+5.4%) Est. Cost — Unrealized —

HRMY HARMONY BIOSCIENCES HLDGS IN 0.4%

Value $2.601M (+826.8%) Shares 92,864 (+1138.2%) Est. Cost $35.58 Unrealized +0.3%

GLUE MONTE ROSA THERAPEUTICS INC 0.5%

Value $3.081M (+215.5%) Shares 187,307 (+200.7%) Est. Cost $18.27 Unrealized +13.1%

VRTX VERTEX PHARMACEUTICALS INC 7.1%

Value $41.57M (+3.8%) Shares 93,100 (+5.4%) Est. Cost $431.03 Unrealized +8.5%

CAPR CAPRICOR THERAPEUTICS INC 1.7%

Value $10.01M (+11.1%) Shares 329,300 (+5.4%) Est. Cost $13.06 Unrealized +90.5%

BBIO BRIDGEBIO PHARMA INC 1.1%

Value $6.335M (+18.3%) Shares 85,311 (+21.9%) Est. Cost $67.23 Unrealized +10.8%

AVXL ANAVEX LIFE SCIENCES CORP 0.2%

Value $1.466M (+192.9%) Shares 477,600 (+239.7%) Est. Cost — Unrealized —

CRMD CORMEDIX INC 0.2%

Value $1.137M (-38.5%) Shares 167,500 (+5.3%) Est. Cost — Unrealized —

NVO NOVO-NORDISK A S 0.3%

Value $2.054M (-24.0%) Shares 55,900 (+5.3%) Est. Cost $35.72 Unrealized —

BHVN BIOHAVEN LTD 0.5%

Value $2.682M (+18.8%) Shares 317,000 (+58.5%) Est. Cost — Unrealized —

ANNX ANNEXON INC 0.3%

Value $1.957M (+26.1%) Shares 353,200 (+14.3%) Est. Cost $3.82 Unrealized +50.3%

PCVX VAXCYTE INC 0.2%

Value $1.457M (+37.5%) Shares 25,071 (+9.1%) Est. Cost $53.59 Unrealized -1.5%

IVA INVENTIVA SA 0.3%

Value $1.935M (+24.5%) Shares 352,399 (+5.4%) Est. Cost $4.69 Unrealized —

UPB UPSTREAM BIO INC 0.0%

Value $194K (-65.1%) Shares 21,609 (+5.4%) Est. Cost $24.83 Unrealized -4.6%

EQ EQUILLIUM INC 0.1%

Value $868K (+61.1%) Shares 433,844 (+24.9%) Est. Cost $1.15 Unrealized +24.8%

BMRN BIOMARIN PHARMACEUTICAL INC 1.4%

Value $8.373M (-3.7%) Shares 148,229 (+1.3%) Est. Cost $60.78 Unrealized -3.4%

EOLS EVOLUS INC 0.1%

Value $515K (-34.9%) Shares 125,200 (+5.4%) Est. Cost — Unrealized —

FHTX FOGHORN THERAPEUTICS INC 0.1%

Value $382K (+131.0%) Shares 79,944 (+161.0%) Est. Cost $5.54 Unrealized +2.7%

MLYS MINERALYS THERAPEUTICS INC 0.1%

Value $714K (-21.3%) Shares 26,347 (+5.4%) Est. Cost $39.65 Unrealized -20.9%

AYTU AYTU BIOPHARMA INC 0.2%

Value $964K (+21.2%) Shares 353,077 (+15.5%) Est. Cost $2.33 Unrealized +8.1%

PRTC PURETECH HEALTH PLC 0.0%

Value $11,327 (-90.9%) Shares 7,924 (+6.5%) Est. Cost $16.28 Unrealized —

URGN UROGEN PHARMA LTD 0.1%

Value $416K (-18.5%) Shares 23,155 (+6.2%) Est. Cost $11.17 Unrealized +86.5%

INO INOVIO PHARMACEUTICALS INC 0.2%

Value $979K (+5.4%) Shares 562,665 (+5.4%) Est. Cost $2.17 Unrealized -24.9%

PRQR PROQR THRAPEUTICS N V 0.0%

Value $292K (-13.8%) Shares 180,083 (+7.5%) Est. Cost $2.80 Unrealized -41.7%

INCY INCYTE CORP 1.7%

Value $9.92M (+0.4%) Shares 105,400 (+5.4%) Est. Cost $103.13 Unrealized 0.0%

TLPH TALPHERA INC 0.0%

Value $115K (-26.5%) Shares 153,563 (+12.2%) Est. Cost $1.18 Unrealized -19.2%

LYEL LYELL IMMUNOPHARMA INC 0.0%

Value $82,246 (-29.7%) Shares 4,100 (+7.9%) Est. Cost — Unrealized —

JANX JANUX THERAPEUTICS INC 0.1%

Value $439K (+6.1%) Shares 31,600 (+5.3%) Est. Cost — Unrealized —

VTGN VISTAGEN THERAPEUTICS INC 0.0%

Value $60,252 (-9.0%) Shares 105,428 (+5.4%) Est. Cost $2.70 Unrealized -77.5%

ATYR ATYR PHARMA INC 0.0%

Value $9,750 (+5.5%) Shares 12,500 (+5.9%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CAPR	CAPRICOR THERAPEUTICS INC	623,400 (+211.7%)	$18.95M (+228.3%)	3.2%	$13.06	+90.5%	PUT	14070B309
UTHR	UNITED THERAPEUTICS CORP DEL	27,303 (+173.0%)	$16.19M (+232.3%)	2.8%	$475.04	+1.1%	COM	91307C102
COGT	COGENT BIOSCIENCES INC	322,764 (+144.8%)	$12.42M (+165.3%)	2.1%	$27.59	+35.4%	COM	19240Q201
VKTX	VIKING THERAPEUTICS INC	525,181 (+55.9%)	$17.09M (+44.2%)	2.9%	$31.63	-0.9%	COM	92686J106
RVMD	REVOLUTION MEDICINES INC	80,872 (+118.5%)	$7.865M (+166.7%)	1.3%	$73.44	+40.3%	COM	76155X100
IMCR	IMMUNOCORE HLDGS PLC	193,189 (+174.8%)	$5.825M (+138.7%)	1.0%	$30.40	—	ADS	45258D105
LLY	ELI LILLY & CO	6,000 (+200.0%)	$5.519M (+156.8%)	0.9%	$1016.57	+3.0%	COM	532457108
TGTX	TG THERAPEUTICS INC	206,928 (+67.8%)	$6.874M (+87.0%)	1.2%	$32.01	-7.3%	COM	88322Q108
APGE	APOGEE THERAPEUTICS INC	222,500 (+5.4%)	$18.73M (+17.5%)	3.2%	—	—	CALL	03770N101
ROIV	ROIVANT SCIENCES LTD	335,800 (+5.4%)	$9.302M (+34.5%)	1.6%	—	—	PUT	G76279101
HRMY	HARMONY BIOSCIENCES HLDGS IN	92,864 (+1138.2%)	$2.601M (+826.8%)	0.4%	$35.58	+0.3%	COM	413197104
GLUE	MONTE ROSA THERAPEUTICS INC	187,307 (+200.7%)	$3.081M (+215.5%)	0.5%	$18.27	+13.1%	COM	61225M102
VRTX	VERTEX PHARMACEUTICALS INC	93,100 (+5.4%)	$41.57M (+3.8%)	7.1%	$431.03	+8.5%	CALL	92532F100
CAPR	CAPRICOR THERAPEUTICS INC	329,300 (+5.4%)	$10.01M (+11.1%)	1.7%	$13.06	+90.5%	CALL	14070B309
BBIO	BRIDGEBIO PHARMA INC	85,311 (+21.9%)	$6.335M (+18.3%)	1.1%	$67.23	+10.8%	COM	10806X102
AVXL	ANAVEX LIFE SCIENCES CORP	477,600 (+239.7%)	$1.466M (+192.9%)	0.2%	—	—	CALL	032797300
CRMD	CORMEDIX INC	167,500 (+5.3%)	$1.137M (-38.5%)	0.2%	—	—	PUT	21900C308
NVO	NOVO-NORDISK A S	55,900 (+5.3%)	$2.054M (-24.0%)	0.3%	$35.72	—	PUT	670100205
BHVN	BIOHAVEN LTD	317,000 (+58.5%)	$2.682M (+18.8%)	0.5%	—	—	CALL	G1110E107
ANNX	ANNEXON INC	353,200 (+14.3%)	$1.957M (+26.1%)	0.3%	$3.82	+50.3%	CALL	03589W102
PCVX	VAXCYTE INC	25,071 (+9.1%)	$1.457M (+37.5%)	0.2%	$53.59	-1.5%	COM	92243G108
IVA	INVENTIVA SA	352,399 (+5.4%)	$1.935M (+24.5%)	0.3%	$4.69	—	ADS	46124U107
UPB	UPSTREAM BIO INC	21,609 (+5.4%)	$194K (-65.1%)	0.0%	$24.83	-4.6%	COM	91678A107
EQ	EQUILLIUM INC	433,844 (+24.9%)	$868K (+61.1%)	0.1%	$1.15	+24.8%	COM	29446K106
BMRN	BIOMARIN PHARMACEUTICAL INC	148,229 (+1.3%)	$8.373M (-3.7%)	1.4%	$60.78	-3.4%	COM	09061G101
EOLS	EVOLUS INC	125,200 (+5.4%)	$515K (-34.9%)	0.1%	—	—	CALL	30052C107
FHTX	FOGHORN THERAPEUTICS INC	79,944 (+161.0%)	$382K (+131.0%)	0.1%	$5.54	+2.7%	COM	344174107
MLYS	MINERALYS THERAPEUTICS INC	26,347 (+5.4%)	$714K (-21.3%)	0.1%	$39.65	-20.9%	COM	603170101
AYTU	AYTU BIOPHARMA INC	353,077 (+15.5%)	$964K (+21.2%)	0.2%	$2.33	+8.1%	COM	054754858
PRTC	PURETECH HEALTH PLC	7,924 (+6.5%)	$11,327 (-90.9%)	0.0%	$16.28	—	ADS	746237106
URGN	UROGEN PHARMA LTD	23,155 (+6.2%)	$416K (-18.5%)	0.1%	$11.17	+86.5%	COM	M96088105
INO	INOVIO PHARMACEUTICALS INC	562,665 (+5.4%)	$979K (+5.4%)	0.2%	$2.17	-24.9%	COM SHS	45773H409
PRQR	PROQR THRAPEUTICS N V	180,083 (+7.5%)	$292K (-13.8%)	0.0%	$2.80	-41.7%	SHS EURO	N71542109
INCY	INCYTE CORP	105,400 (+5.4%)	$9.92M (+0.4%)	1.7%	$103.13	0.0%	PUT	45337C102
TLPH	TALPHERA INC	153,563 (+12.2%)	$115K (-26.5%)	0.0%	$1.18	-19.2%	COM NEW	00444T209
LYEL	LYELL IMMUNOPHARMA INC	4,100 (+7.9%)	$82,246 (-29.7%)	0.0%	—	—	PUT	55083R203
JANX	JANUX THERAPEUTICS INC	31,600 (+5.3%)	$439K (+6.1%)	0.1%	—	—	CALL	47103J105
VTGN	VISTAGEN THERAPEUTICS INC	105,428 (+5.4%)	$60,252 (-9.0%)	0.0%	$2.70	-77.5%	COM	92840H400
ATYR	ATYR PHARMA INC	12,500 (+5.9%)	$9,750 (+5.5%)	0.0%	—	—	PUT	002120202

Exited Positions (77)

XBI SPDR SERIES TRUST 5.2%

Value $30.48M Shares 250,000 Est. Cost — Unrealized —

PRAX PRAXIS PRECISION MEDICINES I 5.0%

Value $29.65M Shares 100,600 Est. Cost — Unrealized —

RNAM AVIDITY BIOSCIENCES INC 4.0%

Value $23.66M Shares 328,000 Est. Cost — Unrealized —

QQQ INVESCO QQQ TR 3.1%

Value $18.43M Shares 30,000 Est. Cost — Unrealized —

JAZZ JAZZ PHARMACEUTICALS PLC 3.0%

Value $17.9M Shares 105,300 Est. Cost $169.07 Unrealized 0.0%

BBIO BRIDGEBIO PHARMA INC 2.6%

Value $15.3M Shares 200,000 Est. Cost $67.23 Unrealized +10.8%

GPCR STRUCTURE THERAPEUTICS INC 2.3%

Value $13.33M Shares 191,700 Est. Cost $48.20 Unrealized —

VKTX VIKING THERAPEUTICS INC 1.9%

Value $11.14M Shares 316,700 Est. Cost $31.63 Unrealized -0.9%

BBIO BRIDGEBIO PHARMA INC 1.8%

Value $10.68M Shares 139,600 Est. Cost $67.23 Unrealized +10.8%

JNJ JOHNSON & JOHNSON 1.8%

Value $10.35M Shares 50,000 Est. Cost $197.01 Unrealized +15.7%

INSM INSMED INC 1.6%

Value $9.189M Shares 52,800 Est. Cost — Unrealized —

IONS IONIS PHARMACEUTICALS INC 1.4%

Value $8.401M Shares 106,200 Est. Cost — Unrealized —

REGN REGENERON PHARMACEUTICALS 1.4%

Value $7.95M Shares 10,300 Est. Cost $586.61 Unrealized +31.1%

— INDIVIOR PLC 1.3%

Value $7.904M Shares 220,300 Est. Cost $24.11 Unrealized —

OCUL OCULAR THERAPEUTIX INC 1.1%

Value $6.619M Shares 545,200 Est. Cost — Unrealized —

ZYME ZYMEWORKS INC 1.1%

Value $6.335M Shares 240,600 Est. Cost $23.38 Unrealized 0.0%

CORT CORCEPT THERAPEUTICS INC 0.8%

Value $4.691M Shares 134,800 Est. Cost $78.55 Unrealized -50.6%

ANIP ANI PHARMACEUTICALS INC 0.7%

Value $4.212M Shares 53,354 Est. Cost $83.62 Unrealized -3.9%

REGN REGENERON PHARMACEUTICALS 0.7%

Value $3.859M Shares 5,000 Est. Cost $586.61 Unrealized +31.1%

MNKD MANNKIND CORP 0.5%

Value $3.132M Shares 552,300 Est. Cost $4.72 Unrealized +17.9%

RXRX RECURSION PHARMACEUTICALS IN 0.5%

Value $3.034M Shares 741,900 Est. Cost — Unrealized —

TGTX TG THERAPEUTICS INC 0.5%

Value $2.981M Shares 100,000 Est. Cost $32.01 Unrealized -7.3%

NTLA INTELLIA THERAPEUTICS INC 0.5%

Value $2.849M Shares 316,900 Est. Cost — Unrealized —

GOSS GOSSAMER BIO INC 0.5%

Value $2.719M Shares 877,100 Est. Cost — Unrealized —

ABUS ARBUTUS BIOPHARMA CORP 0.4%

Value $2.639M Shares 548,600 Est. Cost — Unrealized —

TERN TERNS PHARMACEUTICALS INC 0.4%

Value $2.614M Shares 64,700 Est. Cost $5.58 Unrealized +571.3%

SLNO SOLENO THERAPEUTICS INC 0.4%

Value $2.459M Shares 53,100 Est. Cost $67.08 Unrealized -37.9%

IRWD IRONWOOD PHARMACEUTICALS INC 0.4%

Value $2.304M Shares 683,611 Est. Cost $2.60 Unrealized +74.5%

RARE ULTRAGENYX PHARMACEUTICAL IN 0.4%

Value $2.3M Shares 100,000 Est. Cost $23.36 Unrealized 0.0%

CNTA CENTESSA PHARMACEUTICALS PLC 0.4%

Value $2.251M Shares 90,000 Est. Cost $25.01 Unrealized —

AQST AQUESTIVE THERAPEUTICS INC 0.4%

Value $2.182M Shares 337,700 Est. Cost — Unrealized —

ALNY ALNYLAM PHARMACEUTICALS INC 0.4%

Value $2.124M Shares 5,341 Est. Cost $407.20 Unrealized -13.2%

TECX TECTONIC THERAPEUTIC INC 0.4%

Value $2.099M Shares 100,600 Est. Cost — Unrealized —

PTGX PROTAGONIST THERAPEUTICS INC 0.3%

Value $1.983M Shares 22,700 Est. Cost $47.99 Unrealized +73.5%

TVTX TRAVERE THERAPEUTICS INC 0.3%

Value $1.922M Shares 50,300 Est. Cost — Unrealized —

VTYX VENTYX BIOSCIENCES INC 0.3%

Value $1.806M Shares 200,000 Est. Cost $5.76 Unrealized +134.8%

ALT ALTIMMUNE INC 0.3%

Value $1.775M Shares 491,800 Est. Cost — Unrealized —

VNDA VANDA PHARMACEUTICALS INC 0.3%

Value $1.764M Shares 200,000 Est. Cost — Unrealized —

LEGN LEGEND BIOTECH CORP 0.3%

Value $1.5M Shares 69,000 Est. Cost — Unrealized —

BCRX BIOCRYST PHARMACEUTICALS INC 0.3%

Value $1.489M Shares 190,928 Est. Cost $7.23 Unrealized -3.2%

ARDX ARDELYX INC 0.3%

Value $1.47M Shares 252,198 Est. Cost $5.43 Unrealized +30.3%

ASND ASCENDIS PHARMA A/S 0.2%

Value $1.459M Shares 6,840 Est. Cost $198.81 Unrealized —

AQST AQUESTIVE THERAPEUTICS INC 0.2%

Value $1.364M Shares 211,100 Est. Cost — Unrealized —

RIGL RIGEL PHARMACEUTICALS INC 0.2%

Value $1.285M Shares 30,000 Est. Cost $37.70 Unrealized -1.7%

SLNO SOLENO THERAPEUTICS INC 0.2%

Value $1.245M Shares 26,892 Est. Cost $67.08 Unrealized -37.9%

PCRX PACIRA BIOSCIENCES INC 0.2%

Value $1.243M Shares 48,025 Est. Cost $24.37 Unrealized -9.7%

MPLT MAPLIGHT THERAPEUTICS INC 0.2%

Value $1.12M Shares 63,791 Est. Cost $16.75 Unrealized +5.2%

PRTA PROTHENA CORP PLC 0.2%

Value $1.017M Shares 106,539 Est. Cost $10.18 Unrealized -10.4%

DSGN DESIGN THERAPEUTICS INC 0.2%

Value $941K Shares 100,320 Est. Cost $7.83 Unrealized +27.5%

MREO MEREO BIOPHARMA GROUP PLC 0.1%

Value $833K Shares 1,999,500 Est. Cost — Unrealized —

LQDA LIQUIDIA CORPORATION 0.1%

Value $755K Shares 21,881 Est. Cost $28.47 Unrealized +33.2%

EWTX EDGEWISE THERAPEUTICS INC 0.1%

Value $744K Shares 30,000 Est. Cost $20.07 Unrealized +40.4%

VRDN VIRIDIAN THERAPEUTICS INC 0.1%

Value $657K Shares 21,114 Est. Cost $27.43 Unrealized +12.4%

EDIT EDITAS MEDICINE INC 0.1%

Value $653K Shares 318,700 Est. Cost — Unrealized —

MLTX MOONLAKE IMMUNOTHERAPEUTICS 0.1%

Value $622K Shares 47,200 Est. Cost — Unrealized —

— INDIVIOR PLC 0.1%

Value $621K Shares 17,320 Est. Cost $24.11 Unrealized —

VIR VIR BIOTECHNOLOGY INC 0.1%

Value $603K Shares 100,000 Est. Cost $5.95 Unrealized +21.0%

LGND LIGAND PHARMACEUTICALS INC 0.1%

Value $565K Shares 2,987 Est. Cost $192.14 Unrealized +0.5%

ZYME ZYMEWORKS INC 0.1%

Value $563K Shares 21,400 Est. Cost $23.38 Unrealized 0.0%

STOK STOKE THERAPEUTICS INC 0.1%

Value $545K Shares 17,181 Est. Cost $30.06 Unrealized +5.9%

CNTA CENTESSA PHARMACEUTICALS PLC 0.1%

Value $528K Shares 21,100 Est. Cost $25.01 Unrealized —

IMNM IMMUNOME INC 0.1%

Value $483K Shares 22,500 Est. Cost $17.55 Unrealized +31.5%

BDTX BLACK DIAMOND THERAPEUTICS I 0.1%

Value $463K Shares 190,400 Est. Cost — Unrealized —

CRVS CORVUS PHARMACEUTICALS INC 0.1%

Value $409K Shares 53,100 Est. Cost $16.29 Unrealized 0.0%

PALI PALISADE BIO INC 0.1%

Value $390K Shares 166,049 Est. Cost $1.92 Unrealized -7.2%

BIOA BIOAGE LABS INC 0.1%

Value $299K Shares 22,600 Est. Cost $8.86 Unrealized +116.6%

AARD AARDVARK THERAPEUTICS INC 0.0%

Value $208K Shares 15,882 Est. Cost $12.48 Unrealized +8.7%

PBYI PUMA BIOTECHNOLOGY INC 0.0%

Value $201K Shares 33,800 Est. Cost — Unrealized —

NEUP NEUPHORIA THERAPEUTICS INC 0.0%

Value $194K Shares 50,000 Est. Cost $8.04 Unrealized -49.0%

PLRX PLIANT THERAPEUTICS INC 0.0%

Value $177K Shares 144,914 Est. Cost $1.50 Unrealized -17.3%

ONC BEONE MEDICINES LTD 0.0%

Value $173K Shares 7,500 Est. Cost $23.04 Unrealized —

RVPH REVIVA PHARMACEUTCLS HLDGS I 0.0%

Value $140K Shares 500,000 Est. Cost — Unrealized —

INBX INHIBRX BIOSCIENCES INC 0.0%

Value $103K Shares 1,299 Est. Cost $68.13 Unrealized +14.1%

EDSA EDESA BIOTECH INC 0.0%

Value $76,716 Shares 54,025 Est. Cost $1.96 Unrealized -34.6%

VTGN VISTAGEN THERAPEUTICS INC 0.0%

Value $70,492 Shares 106,500 Est. Cost $2.70 Unrealized -77.5%

SAVA CASSAVA SCIENCES INC 0.0%

Value $20,988 Shares 10,600 Est. Cost — Unrealized —

— APPLIED THERAPEUTICS INC 0.0%

Value $2,020 Shares 20,200 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
XBI	SPDR SERIES TRUST	250,000	$30.48M	5.2%	—	—	PUT	78464A870
PRAX	PRAXIS PRECISION MEDICINES I	100,600	$29.65M	5.0%	—	—	PUT	74006W207
RNAM	AVIDITY BIOSCIENCES INC	328,000	$23.66M	4.0%	—	—	CALL	05370A108
QQQ	INVESCO QQQ TR	30,000	$18.43M	3.1%	—	—	PUT	46090E103
JAZZ	JAZZ PHARMACEUTICALS PLC	105,300	$17.9M	3.0%	$169.07	0.0%	CALL	G50871105
BBIO	BRIDGEBIO PHARMA INC	200,000	$15.3M	2.6%	$67.23	+10.8%	PUT	10806X102
GPCR	STRUCTURE THERAPEUTICS INC	191,700	$13.33M	2.3%	$48.20	—	CALL	86366E106
VKTX	VIKING THERAPEUTICS INC	316,700	$11.14M	1.9%	$31.63	-0.9%	PUT	92686J106
BBIO	BRIDGEBIO PHARMA INC	139,600	$10.68M	1.8%	$67.23	+10.8%	CALL	10806X102
JNJ	JOHNSON & JOHNSON	50,000	$10.35M	1.8%	$197.01	+15.7%	CALL	478160104
INSM	INSMED INC	52,800	$9.189M	1.6%	—	—	CALL	457669307
IONS	IONIS PHARMACEUTICALS INC	106,200	$8.401M	1.4%	—	—	CALL	462222100
REGN	REGENERON PHARMACEUTICALS	10,300	$7.95M	1.4%	$586.61	+31.1%	—	75886F107
—	INDIVIOR PLC	220,300	$7.904M	1.3%	$24.11	—	CALL	G4766E116
OCUL	OCULAR THERAPEUTIX INC	545,200	$6.619M	1.1%	—	—	CALL	67576A100
ZYME	ZYMEWORKS INC	240,600	$6.335M	1.1%	$23.38	0.0%	CALL	98985Y108
CORT	CORCEPT THERAPEUTICS INC	134,800	$4.691M	0.8%	$78.55	-50.6%	PUT	218352102
ANIP	ANI PHARMACEUTICALS INC	53,354	$4.212M	0.7%	$83.62	-3.9%	—	00182C103
REGN	REGENERON PHARMACEUTICALS	5,000	$3.859M	0.7%	$586.61	+31.1%	CALL	75886F107
MNKD	MANNKIND CORP	552,300	$3.132M	0.5%	$4.72	+17.9%	CALL	56400P706
RXRX	RECURSION PHARMACEUTICALS IN	741,900	$3.034M	0.5%	—	—	CALL	75629V104
TGTX	TG THERAPEUTICS INC	100,000	$2.981M	0.5%	$32.01	-7.3%	PUT	88322Q108
NTLA	INTELLIA THERAPEUTICS INC	316,900	$2.849M	0.5%	—	—	PUT	45826J105
GOSS	GOSSAMER BIO INC	877,100	$2.719M	0.5%	—	—	CALL	38341P102
ABUS	ARBUTUS BIOPHARMA CORP	548,600	$2.639M	0.4%	—	—	CALL	03879J100
TERN	TERNS PHARMACEUTICALS INC	64,700	$2.614M	0.4%	$5.58	+571.3%	CALL	880881107
SLNO	SOLENO THERAPEUTICS INC	53,100	$2.459M	0.4%	$67.08	-37.9%	CALL	834203309
IRWD	IRONWOOD PHARMACEUTICALS INC	683,611	$2.304M	0.4%	$2.60	+74.5%	—	46333X108
RARE	ULTRAGENYX PHARMACEUTICAL IN	100,000	$2.3M	0.4%	$23.36	0.0%	CALL	90400D108
CNTA	CENTESSA PHARMACEUTICALS PLC	90,000	$2.251M	0.4%	$25.01	—	—	152309100
AQST	AQUESTIVE THERAPEUTICS INC	337,700	$2.182M	0.4%	—	—	PUT	03843E104
ALNY	ALNYLAM PHARMACEUTICALS INC	5,341	$2.124M	0.4%	$407.20	-13.2%	—	02043Q107
TECX	TECTONIC THERAPEUTIC INC	100,600	$2.099M	0.4%	—	—	CALL	878972108
PTGX	PROTAGONIST THERAPEUTICS INC	22,700	$1.983M	0.3%	$47.99	+73.5%	—	74366E102
TVTX	TRAVERE THERAPEUTICS INC	50,300	$1.922M	0.3%	—	—	PUT	89422G107
VTYX	VENTYX BIOSCIENCES INC	200,000	$1.806M	0.3%	$5.76	+134.8%	—	92332V107
ALT	ALTIMMUNE INC	491,800	$1.775M	0.3%	—	—	CALL	02155H200
VNDA	VANDA PHARMACEUTICALS INC	200,000	$1.764M	0.3%	—	—	CALL	921659108
LEGN	LEGEND BIOTECH CORP	69,000	$1.5M	0.3%	—	—	CALL	52490G102
BCRX	BIOCRYST PHARMACEUTICALS INC	190,928	$1.489M	0.3%	$7.23	-3.2%	—	09058V103
ARDX	ARDELYX INC	252,198	$1.47M	0.3%	$5.43	+30.3%	—	039697107
ASND	ASCENDIS PHARMA A/S	6,840	$1.459M	0.2%	$198.81	—	—	04351P101
AQST	AQUESTIVE THERAPEUTICS INC	211,100	$1.364M	0.2%	—	—	CALL	03843E104
RIGL	RIGEL PHARMACEUTICALS INC	30,000	$1.285M	0.2%	$37.70	-1.7%	—	766559702
SLNO	SOLENO THERAPEUTICS INC	26,892	$1.245M	0.2%	$67.08	-37.9%	—	834203309
PCRX	PACIRA BIOSCIENCES INC	48,025	$1.243M	0.2%	$24.37	-9.7%	—	695127100
MPLT	MAPLIGHT THERAPEUTICS INC	63,791	$1.12M	0.2%	$16.75	+5.2%	—	56565P103
PRTA	PROTHENA CORP PLC	106,539	$1.017M	0.2%	$10.18	-10.4%	—	G72800108
DSGN	DESIGN THERAPEUTICS INC	100,320	$941K	0.2%	$7.83	+27.5%	—	25056L103
MREO	MEREO BIOPHARMA GROUP PLC	1,999,500	$833K	0.1%	—	—	CALL	589492107
LQDA	LIQUIDIA CORPORATION	21,881	$755K	0.1%	$28.47	+33.2%	—	53635D202
EWTX	EDGEWISE THERAPEUTICS INC	30,000	$744K	0.1%	$20.07	+40.4%	—	28036F105
VRDN	VIRIDIAN THERAPEUTICS INC	21,114	$657K	0.1%	$27.43	+12.4%	—	92790C104
EDIT	EDITAS MEDICINE INC	318,700	$653K	0.1%	—	—	CALL	28106W103
MLTX	MOONLAKE IMMUNOTHERAPEUTICS	47,200	$622K	0.1%	—	—	CALL	61559X104
—	INDIVIOR PLC	17,320	$621K	0.1%	$24.11	—	—	G4766E116
VIR	VIR BIOTECHNOLOGY INC	100,000	$603K	0.1%	$5.95	+21.0%	—	92764N102
LGND	LIGAND PHARMACEUTICALS INC	2,987	$565K	0.1%	$192.14	+0.5%	—	53220K504
ZYME	ZYMEWORKS INC	21,400	$563K	0.1%	$23.38	0.0%	PUT	98985Y108
STOK	STOKE THERAPEUTICS INC	17,181	$545K	0.1%	$30.06	+5.9%	—	86150R107
CNTA	CENTESSA PHARMACEUTICALS PLC	21,100	$528K	0.1%	$25.01	—	CALL	152309100
IMNM	IMMUNOME INC	22,500	$483K	0.1%	$17.55	+31.5%	—	45257U108
BDTX	BLACK DIAMOND THERAPEUTICS I	190,400	$463K	0.1%	—	—	CALL	09203E105
CRVS	CORVUS PHARMACEUTICALS INC	53,100	$409K	0.1%	$16.29	0.0%	PUT	221015100
PALI	PALISADE BIO INC	166,049	$390K	0.1%	$1.92	-7.2%	—	696389402
BIOA	BIOAGE LABS INC	22,600	$299K	0.1%	$8.86	+116.6%	CALL	09077V100
AARD	AARDVARK THERAPEUTICS INC	15,882	$208K	0.0%	$12.48	+8.7%	—	002942100
PBYI	PUMA BIOTECHNOLOGY INC	33,800	$201K	0.0%	—	—	CALL	74587V107
NEUP	NEUPHORIA THERAPEUTICS INC	50,000	$194K	0.0%	$8.04	-49.0%	—	64136E102
PLRX	PLIANT THERAPEUTICS INC	144,914	$177K	0.0%	$1.50	-17.3%	—	729139105
ONC	BEONE MEDICINES LTD	7,500	$173K	0.0%	$23.04	—	—	07725L102
RVPH	REVIVA PHARMACEUTCLS HLDGS I	500,000	$140K	0.0%	—	—	CALL	76152G100
INBX	INHIBRX BIOSCIENCES INC	1,299	$103K	0.0%	$68.13	+14.1%	—	45720N103
EDSA	EDESA BIOTECH INC	54,025	$76,716	0.0%	$1.96	-34.6%	—	27966L306
VTGN	VISTAGEN THERAPEUTICS INC	106,500	$70,492	0.0%	$2.70	-77.5%	CALL	92840H400
SAVA	CASSAVA SCIENCES INC	10,600	$20,988	0.0%	—	—	PUT	14817C107
—	APPLIED THERAPEUTICS INC	20,200	$2,020	0.0%	—	—	CALL	03828A101

Decreased Positions (23)

TERN TERNS PHARMACEUTICALS INC 1.6%

Value $9.582M (-31.4%) Shares 181,752 (-47.5%) Est. Cost $5.58 Unrealized +571.3%

CORT CORCEPT THERAPEUTICS INC 0.1%

Value $403K (-88.1%) Shares 10,000 (-89.7%) Est. Cost $78.55 Unrealized -50.6%

VRTX VERTEX PHARMACEUTICALS INC 0.3%

Value $1.715M (-62.2%) Shares 3,840 (-61.6%) Est. Cost $431.03 Unrealized +8.5%

VKTX VIKING THERAPEUTICS INC 3.6%

Value $21.45M (-11.5%) Shares 659,200 (-4.3%) Est. Cost $31.63 Unrealized -0.9%

BIOA BIOAGE LABS INC 0.2%

Value $1.049M (-70.7%) Shares 60,000 (-77.9%) Est. Cost $8.86 Unrealized +116.6%

CAPR CAPRICOR THERAPEUTICS INC 0.4%

Value $2.397M (-47.5%) Shares 78,851 (-50.1%) Est. Cost $13.06 Unrealized +90.5%

LPCN LIPOCINE INC NEW 0.1%

Value $400K (-80.9%) Shares 50,000 (-80.8%) Est. Cost $3.36 Unrealized +173.4%

REPL REPLIMUNE GROUP INC 0.1%

Value $770K (-65.7%) Shares 100,660 (-56.4%) Est. Cost $8.50 Unrealized -8.2%

MNKD MANNKIND CORP 0.1%

Value $457K (-73.3%) Shares 186,603 (-38.2%) Est. Cost $4.72 Unrealized +17.9%

OLMA OLEMA PHARMACEUTICALS INC 0.2%

Value $1.252M (-47.9%) Shares 84,000 (-12.6%) Est. Cost — Unrealized —

ANNX ANNEXON INC 0.1%

Value $736K (-58.1%) Shares 132,916 (-62.0%) Est. Cost $3.82 Unrealized +50.3%

TRVI TREVI THERAPEUTICS INC 0.0%

Value $258K (-78.8%) Shares 21,663 (-77.7%) Est. Cost $5.60 Unrealized +95.3%

CRSP CRISPR THERAPEUTICS AG 0.9%

Value $5.057M (-14.4%) Shares 106,300 (-5.7%) Est. Cost — Unrealized —

KOD KODIAK SCIENCES INC 0.0%

Value $7,624 (-99.1%) Shares 200 (-99.3%) Est. Cost $25.42 Unrealized 0.0%

NTLA INTELLIA THERAPEUTICS INC 0.4%

Value $2.564M (+34.3%) Shares 200,000 (-5.8%) Est. Cost — Unrealized —

JNJ JOHNSON & JOHNSON 2.2%

Value $13.14M (-4.4%) Shares 53,771 (-19.1%) Est. Cost $197.01 Unrealized +15.7%

XERS XERIS BIOPHARMA HOLDINGS INC 0.1%

Value $770K (-42.5%) Shares 132,746 (-22.2%) Est. Cost $7.33 Unrealized -1.6%

QURE UNIQURE NV 0.1%

Value $510K (-52.6%) Shares 31,200 (-30.7%) Est. Cost $38.59 Unrealized -39.0%

RLMD RELMADA THERAPEUTICS INC 0.2%

Value $1.398M (-25.7%) Shares 200,842 (-48.4%) Est. Cost $3.35 Unrealized +19.8%

SLS SELLAS LIFE SCIENCES GROUP I 0.2%

Value $1.269M (-20.8%) Shares 300,000 (-29.4%) Est. Cost — Unrealized —

TENX TENAX THERAPEUTICS INC 0.5%

Value $2.874M (-3.0%) Shares 179,738 (-26.1%) Est. Cost $8.70 Unrealized +55.2%

INO INOVIO PHARMACEUTICALS INC 0.0%

Value $131K (-24.8%) Shares 75,200 (-24.8%) Est. Cost $2.17 Unrealized -24.9%

ATYR ATYR PHARMA INC 0.0%

Value $9,516 (-21.6%) Shares 12,200 (-21.3%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TERN	TERNS PHARMACEUTICALS INC	181,752 (-47.5%)	$9.582M (-31.4%)	1.6%	$5.58	+571.3%	COM	880881107
CORT	CORCEPT THERAPEUTICS INC	10,000 (-89.7%)	$403K (-88.1%)	0.1%	$78.55	-50.6%	COM	218352102
VRTX	VERTEX PHARMACEUTICALS INC	3,840 (-61.6%)	$1.715M (-62.2%)	0.3%	$431.03	+8.5%	COM	92532F100
VKTX	VIKING THERAPEUTICS INC	659,200 (-4.3%)	$21.45M (-11.5%)	3.6%	$31.63	-0.9%	CALL	92686J106
BIOA	BIOAGE LABS INC	60,000 (-77.9%)	$1.049M (-70.7%)	0.2%	$8.86	+116.6%	COM	09077V100
CAPR	CAPRICOR THERAPEUTICS INC	78,851 (-50.1%)	$2.397M (-47.5%)	0.4%	$13.06	+90.5%	COM NEW	14070B309
LPCN	LIPOCINE INC NEW	50,000 (-80.8%)	$400K (-80.9%)	0.1%	$3.36	+173.4%	COM NEW	53630X203
REPL	REPLIMUNE GROUP INC	100,660 (-56.4%)	$770K (-65.7%)	0.1%	$8.50	-8.2%	COM	76029N106
MNKD	MANNKIND CORP	186,603 (-38.2%)	$457K (-73.3%)	0.1%	$4.72	+17.9%	COM NEW	56400P706
OLMA	OLEMA PHARMACEUTICALS INC	84,000 (-12.6%)	$1.252M (-47.9%)	0.2%	—	—	CALL	68062P106
ANNX	ANNEXON INC	132,916 (-62.0%)	$736K (-58.1%)	0.1%	$3.82	+50.3%	COM	03589W102
TRVI	TREVI THERAPEUTICS INC	21,663 (-77.7%)	$258K (-78.8%)	0.0%	$5.60	+95.3%	COM	89532M101
CRSP	CRISPR THERAPEUTICS AG	106,300 (-5.7%)	$5.057M (-14.4%)	0.9%	—	—	CALL	H17182108
KOD	KODIAK SCIENCES INC	200 (-99.3%)	$7,624 (-99.1%)	0.0%	$25.42	0.0%	CALL	50015M109
NTLA	INTELLIA THERAPEUTICS INC	200,000 (-5.8%)	$2.564M (+34.3%)	0.4%	—	—	CALL	45826J105
JNJ	JOHNSON & JOHNSON	53,771 (-19.1%)	$13.14M (-4.4%)	2.2%	$197.01	+15.7%	COM	478160104
XERS	XERIS BIOPHARMA HOLDINGS INC	132,746 (-22.2%)	$770K (-42.5%)	0.1%	$7.33	-1.6%	COM	98422E103
QURE	UNIQURE NV	31,200 (-30.7%)	$510K (-52.6%)	0.1%	$38.59	-39.0%	SHS	N90064101
RLMD	RELMADA THERAPEUTICS INC	200,842 (-48.4%)	$1.398M (-25.7%)	0.2%	$3.35	+19.8%	COM	75955J402
SLS	SELLAS LIFE SCIENCES GROUP I	300,000 (-29.4%)	$1.269M (-20.8%)	0.2%	—	—	CALL	81642T209
TENX	TENAX THERAPEUTICS INC	179,738 (-26.1%)	$2.874M (-3.0%)	0.5%	$8.70	+55.2%	COM NEW	88032L605
INO	INOVIO PHARMACEUTICALS INC	75,200 (-24.8%)	$131K (-24.8%)	0.0%	$2.17	-24.9%	CALL	45773H409
ATYR	ATYR PHARMA INC	12,200 (-21.3%)	$9,516 (-21.6%)	0.0%	—	—	CALL	002120202

Unchanged Positions (6)

QURE UNIQURE NV 0.8%

Value $4.889M Shares 299,000 Est. Cost $38.59 Unrealized -39.0%

ABVX ABIVAX SA 1.4%

Value $8.217M Shares 75,944 Est. Cost $107.10 Unrealized —

VIR VIR BIOTECHNOLOGY INC 0.1%

Value $796K Shares 88,800 Est. Cost $5.95 Unrealized +21.0%

PTHS PELTHOS THERAPEUTICS INC 0.1%

Value $520K Shares 24,773 Est. Cost $26.93 Unrealized -10.6%

ENTA ENANTA PHARMACEUTICALS INC 0.1%

Value $820K Shares 64,952 Est. Cost $12.70 Unrealized +6.2%

JBIO JADE BIOSCIENCES INC 0.0%

Value $2,930 Shares 1,046 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
QURE	UNIQURE NV	299,000	$4.889M	0.8%	$38.59	-39.0%	PUT	N90064101
ABVX	ABIVAX SA	75,944	$8.217M	1.4%	$107.10	—	SPONSORED ADS	00370M103
VIR	VIR BIOTECHNOLOGY INC	88,800	$796K	0.1%	$5.95	+21.0%	CALL	92764N102
PTHS	PELTHOS THERAPEUTICS INC	24,773	$520K	0.1%	$26.93	-10.6%	COM SHS	171126204
ENTA	ENANTA PHARMACEUTICALS INC	64,952	$820K	0.1%	$12.70	+6.2%	COM	29251M106
JBIO	JADE BIOSCIENCES INC	1,046	$2,930	0.0%	—	—	PUT	008064206