Funds › Stonepine Capital Management, LLC
Stonepine Capital Management, LLC
13F for Q3 2026, filed Nov 13, 2026. 66 positions worth $159.4M.Managers with more than $100 million in US-listed stocks list their holdings each quarter, within 45 days of quarter end. Long positions only: no short sales or cash.
Latest report
Q3 2026
filed Nov 13, 2026
Reported value
$159.4M
−$17.9M (10.1%) vs Q2 2026
Positions
66
72 in Q2 2026
Top 10 share
48.5%
of reported value
CheckedEach line's price per share is checked against other managers' reports of the same stock. Unit mix-ups are corrected. Reports no fix can rescue are left out.
Clean
prices match other managers' reports
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Holdings, Q3 2026
Largest first. Common shares only; puts and calls are under All positions.
| # | The fund's own figures at the end of the quarter. A report can be up to 45 days old when it is filed. Options and bonds are not counted here. | Filing | ||||
|---|---|---|---|---|---|---|
| 1 | VSTM Verastem, Inc. | 3.04M | $24.5M | 15.4% | -9.2% | 13F ↗ |
| 2 | CAMP CAMP4 Therapeutics Corporation | 2.79M | $11.3M | 7.1% | +101% | 13F ↗ |
| 3 | EOLS Evolus, Inc. | 971,622 | $7.8M | 4.9% | -38.9% | 13F ↗ |
| 4 | ADMA ADMA Biologics Inc | 700,000 | $7.0M | 4.4% | -5.4% | 13F ↗ |
| 5 | NKTR Nektar Therapeutics | 110,000 | $6.7M | 4.2% | -8.8% | 13F ↗ |
| 6 | ELOX Eloxx Pharmaceuticals, Inc. | 381,977 | $5.8M | 3.7% | -3.8% | 13F ↗ |
| 7 | MSLE Satellos Bioscience Inc. | 455,058 | $3.9M | 2.4% | -7.4% | 13F ↗ |
| 8 | KZIA Kazia Therapeutics Limited · ADR | 377,429 | $3.6M | 2.3% | +9.3% | 13F ↗ |
| 9 | INDV Supernus, Inc. | 100,000 | $3.6M | 2.2% | Unchanged | 13F ↗ |
| 10 | RARE Ultragenyx Pharmaceutical Inc. | 210,000 | $3.2M | 2.0% | +740% | 13F ↗ |
| 11 | EDSA Edesa Biotech, Inc. | 710,266 | $3.0M | 1.9% | +55.6% | 13F ↗ |
| 12 | BSX Boston Scientific Corporation | 55,000 | $2.4M | 1.5% | New | 13F ↗ |
| 13 | AYTU Aytu BioPharma, Inc. | 964,900 | $2.1M | 1.3% | +5.7% | 13F ↗ |
| 14 | ANTX AN2 Therapeutics, Inc. | 350,877 | $1.9M | 1.2% | -36.4% | 13F ↗ |
| 15 | XLO Xilio Therapeutics, Inc. | 189,092 | $1.7M | 1.1% | -16.3% | 13F ↗ |
| 16 | PYXS Pyxis Oncology, Inc. | 689,000 | $1.6M | 1.0% | New | 13F ↗ |
| 17 | ABEO Abeona Therapeutics Inc. | 282,016 | $1.5M | 0.9% | -49.4% | 13F ↗ |
| 18 | SRZN Surrozen, Inc. | 44,100 | $1.4M | 0.9% | New | 13F ↗ |
| 19 | CLRB Cellectar Biosciences, Inc. | 749,028 | $1.4M | 0.9% | +616% | 13F ↗ |
| 20 | KTTA Pasithea Therapeutics Corp. | 2.77M | $1.4M | 0.9% | +26.0% | 13F ↗ |
| 21 | ACET Adicet Bio, Inc. | 188,201 | $1.3M | 0.8% | -23.3% | 13F ↗ |
| 22 | IKT Inhibikase Therapeutics, Inc. | 647,285 | $1.3M | 0.8% | +63.4% | 13F ↗ |
| 23 | OKYO OKYO Pharma Limited | 914,367 | $1.2M | 0.7% | +6.0% | 13F ↗ |
| 24 | QNRX Quoin Pharmaceuticals, Ltd. · ADR | 252,434 | $1.2M | 0.7% | +26.5% | 13F ↗ |
| 25 | TENX Tenax Therapeutics, Inc. | 588,000 | $1.1M | 0.7% | -10.9% | 13F ↗ |
| 26 | ZVRA Zevra Therapeutics, Inc. | 100,000 | $1.1M | 0.7% | -61.3% | 13F ↗ |
| 27 | CABA Cabaletta Bio, Inc. | 520,000 | $998.4K | 0.6% | -43.3% | 13F ↗ |
| 28 | CDXS Codexis, Inc. | 676,973 | $941.0K | 0.6% | +517% | 13F ↗ |
| 29 | INAB IN8bio, Inc. | 697,852 | $928.1K | 0.6% | +0.4% | 13F ↗ |
| 30 | GOSS Gossamer Bio, Inc. | 63,039 | $747.0K | 0.5% | New | 13F ↗ |
| 31 | XENE Xenon Pharmaceuticals Inc. | 20,000 | $743.8K | 0.5% | New | 13F ↗ |
| 32 | AZTR Azitra Inc | 5.23M | $719.3K | 0.5% | -1.1% | 13F ↗ |
| 33 | FEMY Femasys Inc. | 326,770 | $705.8K | 0.4% | New | 13F ↗ |
| 34 | ZNTL Zentalis Pharmaceuticals, Inc. | 254,759 | $705.7K | 0.4% | +57.7% | 13F ↗ |
| 35 | MLTX MoonLake Immunotherapeutics | 60,000 | $702.0K | 0.4% | +20.0% | 13F ↗ |
| 36 | CRBP Corbus Pharmaceuticals Holdings, Inc. | 95,000 | $647.9K | 0.4% | -77.6% | 13F ↗ |
| 37 | AEON AEON Biopharma, Inc. | 2.13M | $637.7K | 0.4% | New | 13F ↗ |
| 38 | ALMS Alumis Inc. | 85,000 | $628.1K | 0.4% | New | 13F ↗ |
| 39 | CTMX CytomX Therapeutics, Inc. | 220,000 | $598.4K | 0.4% | +7.3% | 13F ↗ |
| 40 | SINT SiNtx Technologies, Inc. | 233,936 | $521.7K | 0.3% | +11.8% | 13F ↗ |
| 41 | ZLAB Zai Lab Limited · ADR | 18,998 | $500.4K | 0.3% | New | 13F ↗ |
| 42 | IRD Opus Genetics, Inc. | 98,147 | $475.0K | 0.3% | -2.6% | 13F ↗ |
| 43 | NMRA Neumora Therapeutics, Inc. | 787,269 | $469.4K | 0.3% | New | 13F ↗ |
| 44 | CALC CalciMedica, Inc. | 278,680 | $451.5K | 0.3% | New | 13F ↗ |
| 45 | PLRX Pliant Therapeutics, Inc. | 414,903 | $448.1K | 0.3% | +80.0% | 13F ↗ |
| 46 | OKUR OnKure Therapeutics, Inc. | 162,818 | $443.7K | 0.3% | +24.6% | 13F ↗ |
| 47 | XFOR X4 Pharmaceuticals, Inc. | 150,000 | $435.0K | 0.3% | -33.3% | 13F ↗ |
| 48 | NGEN NervGen Pharma Corp. | 200,000 | $382.0K | 0.2% | -26.4% | 13F ↗ |
| 49 | EPRX Eupraxia Pharmaceuticals Inc. · Com 298736 Al 3 Euronet Worldwide Inc Note 0.750% 3/1 | 40,000 | $364.0K | 0.2% | -8.0% | 13F ↗ |
| 50 | SABS SAB Biotherapeutics, Inc. | 88,108 | $279.3K | 0.2% | +20.2% | 13F ↗ |
Showing the top 50 of 66 positions. Premium lists every position, plus puts and calls.
Changes since Q2 2026
18 new, 20 added to, 26 trimmed, 24 exited, 2 unchanged. By estimated dollars.
New positions (18)
| BSX Boston Scientific Corporation | 55,000 | New | $2.4M |
| PYXS Pyxis Oncology, Inc. | 689,000 | New | $1.6M |
| SRZN Surrozen, Inc. | 44,100 | New | $1.4M |
| GOSS Gossamer Bio, Inc. | 63,039 | New | $747.0K |
| XENE Xenon Pharmaceuticals Inc. | 20,000 | New | $743.8K |
| FEMY Femasys Inc. | 326,770 | New | $705.8K |
| AEON AEON Biopharma, Inc. | 2.13M | New | $637.7K |
| ALMS Alumis Inc. | 85,000 | New | $628.1K |
| ZLAB Zai Lab Limited · ADR | 18,998 | New | $500.4K |
| NMRA Neumora Therapeutics, Inc. | 787,269 | New | $469.4K |
Added to (20)
| CAMP CAMP4 Therapeutics Corporation | 2.79M | +101% | $5.6M |
| RARE Ultragenyx Pharmaceutical Inc. | 210,000 | +740% | $2.8M |
| CLRB Cellectar Biosciences, Inc. | 749,028 | +616% | $1.2M |
| EDSA Edesa Biotech, Inc. | 710,266 | +55.6% | $1.1M |
| CDXS Codexis, Inc. | 676,973 | +517% | $788.6K |
| IKT Inhibikase Therapeutics, Inc. | 647,285 | +63.4% | $516.0K |
| KZIA Kazia Therapeutics Limited · ADR | 377,429 | +9.3% | $309.4K |
| KTTA Pasithea Therapeutics Corp. | 2.77M | +26.0% | $282.4K |
| ZNTL Zentalis Pharmaceuticals, Inc. | 254,759 | +57.7% | $258.1K |
| QNRX Quoin Pharmaceuticals, Ltd. · ADR | 252,434 | +26.5% | $241.4K |
Trimmed (26)
| EOLS Evolus, Inc. | 971,622 | -38.9% | -$4.9M |
| VSTM Verastem, Inc. | 3.04M | -9.2% | -$2.5M |
| CRBP Corbus Pharmaceuticals Holdings, Inc. | 95,000 | -77.6% | -$2.3M |
| ZVRA Zevra Therapeutics, Inc. | 100,000 | -61.3% | -$1.7M |
| ABEO Abeona Therapeutics Inc. | 282,016 | -49.4% | -$1.4M |
| LUNG Pulmonx Corporation | 110,479 | -86.5% | -$1.3M |
| ANTX AN2 Therapeutics, Inc. | 350,877 | -36.4% | -$1.1M |
| CABA Cabaletta Bio, Inc. | 520,000 | -43.3% | -$762.4K |
| NKTR Nektar Therapeutics | 110,000 | -8.8% | -$645.0K |
| MXCT MaxCyte, Inc. | 224,881 | -70.1% | -$589.9K |
Exited (24)
| TELA TELA Bio, Inc. | 2.66M | Exited | -$2.0M |
| Curis Inc | 3.31M | Exited | -$1.7M |
| SPRB Spruce Biosciences, Inc. | 28,795 | Exited | -$1.6M |
| SLGL Sol-Gel Technologies Ltd. | 14,469 | Exited | -$1.1M |
| PHAT Phathom Pharmaceuticals, Inc. | 85,010 | Exited | -$922.4K |
| Cybin Inc | 129,280 | Exited | -$854.5K |
| NVCT Nuvectis Pharma, Inc. | 40,000 | Exited | -$735.6K |
| CBIO Crescent Biopharma, Inc. | 40,000 | Exited | -$720.0K |
| PMVP PMV Pharmaceuticals, Inc. | 536,086 | Exited | -$718.4K |
| ORKA Oruka Therapeutics, Inc. | 7,500 | Exited | -$713.8K |
The 10 largest of each, by estimated dollars: shares changed times the later report's price. Index tracking, splits and mergers move positions too.
All positions
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Reported value by quarter
Value and number of positions at the end of each quarter.
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Largest positions in earlier quarters
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Ten largest positions
By value, Q3 2026.
Filings
| Filing | ||||||
|---|---|---|---|---|---|---|
| Q3 2026 | Nov 13, 2026 | 13F-HR | 78 | $159.4M | Current | SEC ↗ |
| Q2 2026 | Aug 17, 2026 | 13F-HR/A (restatement) | 87 | $177.3M | Current | SEC ↗ |
| Q2 2026 | Aug 14, 2026 | 13F-HR | 97 | $213.6M | Replaced | SEC ↗ |
| Q1 2026 | May 14, 2026 | 13F-HR | 83 | $249.7M | Current | SEC ↗ |
| Q4 2025 | Feb 13, 2026 | 13F-HR | 66 | $137.0M | Current | SEC ↗ |
| Q3 2025 | Nov 13, 2025 | 13F-HR | 58 | $123.0M | Current | SEC ↗ |
| Q2 2025 | Aug 13, 2025 | 13F-HR | 59 | $101.9M | Current | SEC ↗ |
| Q1 2025 | May 14, 2025 | 13F-HR | 66 | $102.8M | Current | SEC ↗ |
Most recent first, up to 80. An amendment can replace a report or add holdings to it. All 13F filings
Information, not investment advice. Values are the fund's own figures at quarter end; a report can be up to 45 days old when filed. Disclaimer