Stonepine Capital Management, LLC 13F holdings, Q3 2025
Holdings as of September 30, 2025 · filings on SEC EDGAR · latest filing →
Stonepine Capital Management, LLC disclosed 58 US equity positions worth $123.0m in its Q3 2025 13F filing. The largest position was VSTM at 19.2% of the reported book, followed by ADMA and EOLS. Against the Q2 2025 filing, it opened 12 new positions, added to 22 and reduced 15 among the top 50 holdings.
What did Stonepine Capital Management, LLC own in Q3 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q2 2025 |
|---|---|---|---|---|---|---|---|
| 1 | VSTM VERASTEM INC | Healthcare | 19.2% | $23.6m | 2,670,032 | 96% | added |
| 2 | ADMA ADMA BIOLOGICS INC | Healthcare | 8.8% | $10.8m | 739,000 | -1% | reduced |
| 3 | EOLS EVOLUS INC | Healthcare | 7.7% | $9.4m | 1,536,391 | 68% | added |
| 4 | ZVRA ZEVRA THERAPEUTICS INC | 6.3% | $7.7m | 810,000 | 4% | added | |
| 5 | NKTR NEKTAR THERAPEUTICS | Healthcare | 3.9% | $4.8m | 85,000 | 69% | added |
| 6 | DAWNGBX DAY ONE BIOPHARMACEUTICALS I | 3.7% | $4.6m | 647,382 | 44% | added | |
| 7 | XOMA ROYALTY CORPORATION | 3.6% | $4.4m | 115,459 | -24% | reduced | |
| 8 | ACAD ACADIA PHARMACEUTICALS INC | Healthcare | 3.0% | $3.7m | 174,544 | -22% | reduced |
| 9 | ENTA ENANTA PHARMACEUTICALS INC | Healthcare | 3.0% | $3.7m | 305,000 | -50% | reduced |
| 10 | XFOR X4 PHARMACEUTICALS INC | 2.9% | $3.6m | 1,056,338 | – | new | |
| 11 | OABI OMNIAB INC | 2.8% | $3.4m | 2,142,857 | – | new | |
| 12 | SRZN SURROZEN INC | 2.6% | $3.2m | 250,146 | -18% | reduced | |
| 13 | TELA TELA BIO INC | 2.6% | $3.2m | 2,155,519 | 3% | added | |
| 14 | INDIVIOR PLC | 2.0% | $2.4m | 100,000 | -71% | reduced | |
| 15 | ABEO ABEONA THERAPEUTICS INC | Healthcare | 1.9% | $2.4m | 450,970 | 902% | added |
| 16 | GERN GERON CORP | Healthcare | 1.8% | $2.2m | 1,600,000 | 60% | added |
| 17 | PMVP PMV PHARMACEUTICALS INC | 1.6% | $1.9m | 1,370,139 | 62% | added | |
| 18 | EDSA EDESA BIOTECH INC | 1.4% | $1.7m | 687,500 | – | new | |
| 19 | AYTU AYTU BIOPHARMA INC | 1.4% | $1.7m | 891,855 | 10% | added | |
| 20 | SLNOEUR SOLENO THERAPEUTICS INC | 1.3% | $1.6m | 24,000 | – | new | |
| 21 | 2KZ0 KEZAR LIFE SCIENCES INC | 1.2% | $1.5m | 383,182 | 126% | added | |
| 22 | ALMS ALUMIS INC | 1.0% | $1.2m | 300,000 | -14% | reduced | |
| 23 | IKT INHIBIKASE THERAPEUTICS INC | 1.0% | $1.2m | 735,019 | 0% | held | |
| 24 | BIOA BIOAGE LABS INC | 0.9% | $1.1m | 188,571 | 25% | added | |
| 25 | ARDX ARDELYX INC | Healthcare | 0.9% | $1.1m | 200,000 | -64% | reduced |
| 26 | LUNG PULMONX CORP | Healthcare | 0.9% | $1.1m | 670,000 | 359% | added |
| 27 | DVAX DYNAVAX TECHNOLOGIES CORP | 0.9% | $1.1m | 108,094 | 260% | added | |
| 28 | HRTX HERON THERAPEUTICS INC | Healthcare | 0.9% | $1.1m | 850,100 | 29% | added |
| 29 | VNDA VANDA PHARMACEUTICALS INC | Healthcare | 0.8% | $973.0k | 195,000 | -22% | reduced |
| 30 | VIR VIR BIOTECHNOLOGY INC | Healthcare | 0.7% | $913.6k | 160,000 | 23% | added |
| 31 | MNKD MANNKIND CORP | Healthcare | 0.7% | $846.1k | 157,569 | – | new |
| 32 | MXCT MAXCYTE INC | 0.6% | $725.2k | 459,018 | – | new | |
| 33 | ANTX AN2 THERAPEUTICS INC | 0.6% | $716.2k | 563,913 | 4% | added | |
| 34 | ZNTL ZENTALIS PHARMACEUTICALS INC | Healthcare | 0.6% | $685.2k | 453,800 | 316% | added |
| 35 | ANGO ANGIODYNAMICS INC | Healthcare | 0.5% | $670.2k | 60,000 | -22% | reduced |
| 36 | GRCE GRACE THERAPEUTICS INC | 0.5% | $628.2k | 211,010 | -28% | reduced | |
| 37 | RARE ULTRAGENYX PHARMACEUTICAL IN | Healthcare | 0.5% | $601.6k | 20,000 | – | new |
| 38 | SNDX SYNDAX PHARMACEUTICALS INC | Healthcare | 0.5% | $572.3k | 37,200 | -60% | reduced |
| 39 | AQST AQUESTIVE THERAPEUTICS INC | 0.5% | $562.4k | 100,600 | – | new | |
| 40 | GOSS GOSSAMER BIO INC | Healthcare | 0.4% | $538.5k | 204,770 | – | new |
| 41 | BOLD BOUNDLESS BIO INC | 0.4% | $508.5k | 413,453 | 289% | added | |
| 42 | HCAT HEALTH CATALYST INC | Healthcare | 0.4% | $443.3k | 155,551 | 56% | added |
| 43 | ESTA ESTABLISHMENT LABS HLDGS INC | Healthcare | 0.4% | $433.9k | 10,585 | 51% | added |
| 44 | PLRX PLIANT THERAPEUTICS INC | Healthcare | 0.3% | $428.1k | 289,237 | – | new |
| 45 | CTMX CYTOMX THERAPEUTICS INC | Healthcare | 0.3% | $398.8k | 125,000 | – | new |
| 46 | KPRX KIORA PHARMACEUTICALS INC | 0.3% | $390.9k | 140,598 | -21% | reduced | |
| 47 | RZLT REZOLUTE INC | 0.3% | $376.0k | 40,000 | -82% | reduced | |
| 48 | ACRS ACLARIS THERAPEUTICS INC | Healthcare | 0.3% | $366.5k | 192,900 | -61% | reduced |
| 49 | INAB IN8BIO INC | 0.3% | $345.9k | 159,421 | 93% | added | |
| 50 | HELIUS MED TECHNOLOGIES INC | 0.2% | $297.8k | 20,000 | – | new |
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.