Lion Point Capital, LP 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Lion Point Capital, LP disclosed 39 US equity positions worth $19.3m in its Q4 2025 13F filing. The largest position was MIST at 7.9% of the reported book, followed by PRAX and MLTX. Against the Q3 2025 filing, it opened 15 new positions, added to 6 and reduced 10 among the top 39 holdings.
What did Lion Point Capital, LP own in Q4 2025? Top 39 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | MIST MILESTONE PHARMACEUTICALS IN | 7.9% | $1.5m | 755,000 | 15% | added | |
| 2 | PRAX PRAXIS PRECISION MEDICINES I | Healthcare | 6.8% | $1.3m | 4,450 | -22% | reduced |
| 3 | MLTX MOONLAKE IMMUNOTHERAPEUTICS | Healthcare | 4.6% | $889.6k | 67,500 | 0% | held |
| 4 | FENC FENNEC PHARMACEUTICALS INC | 4.5% | $865.7k | 112,434 | -9% | reduced | |
| 5 | JSPR JASPER THERAPEUTICS INC | 4.4% | $851.0k | 465,000 | 17% | added | |
| 6 | BENITEC BIOPHARMA INC | 4.3% | $835.1k | 62,000 | 0% | held | |
| 7 | RPRX ROYALTY PHARMA PLC | Healthcare | 4.3% | $826.9k | 21,400 | 0% | held |
| 8 | GERN GERON CORP | Healthcare | 3.9% | $763.0k | 578,000 | 16% | added |
| 9 | SNDX SYNDAX PHARMACEUTICALS INC | Healthcare | 3.9% | $756.4k | 36,000 | -35% | reduced |
| 10 | ARDX ARDELYX INC | Healthcare | 3.9% | $750.0k | 128,650 | -21% | reduced |
| 11 | CUE CUE BIOPHARMA INC | 3.5% | $672.8k | 2,202,854 | – | new | |
| 12 | IRON DISC MEDICINE INC | Healthcare | 3.3% | $643.2k | 8,100 | -24% | reduced |
| 13 | SRPT SAREPTA THERAPEUTICS INC | Healthcare | 3.2% | $613.3k | 28,500 | – | new |
| 14 | BHVN BIOHAVEN LTD | Healthcare | 3.0% | $583.7k | 51,700 | 128% | added |
| 15 | HUMA HUMACYTE INC | 2.5% | $480.2k | 500,000 | 499% | added | |
| 16 | KURA KURA ONCOLOGY INC | Healthcare | 2.5% | $477.9k | 46,000 | 0% | held |
| 17 | SERES THERAPEUTICS INC | 2.4% | $469.8k | 31,570 | 16% | added | |
| 18 | CMPS COMPASS PATHWAYS PLC | Healthcare | 2.1% | $400.2k | 58,000 | 0% | held |
| 19 | DAWNGBX DAY ONE BIOPHARMACEUTICALS I | 2.0% | $391.4k | 42,000 | 0% | held | |
| 20 | RGNX REGENXBIO INC | Healthcare | 2.0% | $383.0k | 26,600 | -54% | reduced |
| 21 | BBIO BRIDGEBIO PHARMA INC | Healthcare | 2.0% | $382.4k | 5,000 | -62% | reduced |
| 22 | MLYS MINERALYS THERAPEUTICS INC | Healthcare | 2.0% | $381.0k | 10,500 | -73% | reduced |
| 23 | VTYXUSD VENTYX BIOSCIENCES INC | 1.9% | $374.7k | 41,500 | – | new | |
| 24 | LNTH LANTHEUS HLDGS INC | Healthcare | 1.9% | $366.0k | 5,500 | – | new |
| 25 | DYN DYNE THERAPEUTICS INC | Healthcare | 1.8% | $352.1k | 18,000 | – | new |
| 26 | QURE UNIQURE NV | 1.8% | $351.8k | 14,700 | – | new | |
| 27 | PCRX PACIRA PHARMACEUTICALS INC | Healthcare | 1.8% | $349.4k | 13,500 | – | new |
| 28 | VTRS VIATRIS INC | Healthcare | 1.8% | $344.9k | 27,700 | – | new |
| 29 | AZTA AZENTA INC | Healthcare | 1.7% | $322.6k | 9,700 | – | new |
| 30 | RCKT ROCKET PHARMACEUTICALS INC | Healthcare | 1.6% | $301.9k | 86,000 | 0% | held |
| 31 | JANX JANUX THERAPEUTICS INC | Healthcare | 1.4% | $262.2k | 19,000 | – | new |
| 32 | EWTX EDGEWISE THERAPEUTICS INC | 1.2% | $225.8k | 9,100 | – | new | |
| 33 | INVA INNOVIVA INC | Healthcare | 0.8% | $163.9k | 8,200 | – | new |
| 34 | ARQT ARCUTIS BIOTHERAPEUTICS INC | Healthcare | 0.8% | $152.5k | 5,250 | -85% | reduced |
| 35 | INNATE PHARMA S A | 0.7% | $142.0k | 81,151 | – | new | |
| 36 | NERV MINERVA NEUROSCIENCES INC | 0.7% | $140.7k | 35,000 | – | new | |
| 37 | GHRS GH RESEARCH PLC | 0.7% | $129.5k | 10,200 | – | new | |
| 38 | SPRB SPRUCE BIOSCIENCES INC | 0.5% | $87.1k | 1,000 | 0% | held | |
| 39 | MRSN MERSANA THERAPEUTICS INC | 0.0% | $2.9k | 100 | -100% | reduced |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.