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Velan Capital Investment Management LP — 13F Holdings & Portfolio

CIK 1848809 · latest 13F-HR filed 2026-08-14

Backtest portfolio

Velan Capital Investment Management LP manages $164.2M in 13F-reported U.S. long-equity assets across 53 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are PRAX (18.10%), MPLT (10.76%), STRO (10.36%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 6 new positions and exited 5; 20 existing positions rose in reported value and 18 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$164.2M

Long-equity book

Holdings
53

Distinct positions

Period
2026-06-30

Filed 2026-08-14

Q/Q Activity
+6 / −5 / ↑20 / ↓18

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
PRAX18.2% · -12%MPLT10.8% · 0%STRO10.4% · 0%IMMX6.9% · +47%TARA6.7% · +0%ABVX5.4% · -15%TENX4.9% · -6%AVR4.2% · 0%EDSA4.1% · 0%EVMN3.7% · +1%AVTX3.7% · +75%XNCR2.5% · +2%RZLT2.4% · 0%HRTX2.3% · 0%VRCA1.8% · 0%CCCC1.6% · newEPRX1.4% · 0%ADMA1.3% · newRNTX1.1% · newLYEL0.9% · +3%NSRX0.8% · 0%PROF0.7% · -40%JSPR0.7% · 0%PTGX0.3% · 0%CTMX0.3% · -78%NMRA0.2% · +188%NRIX0.2% · 0%OVID0.2% · -19%DTIL0.2% · 0%MLYS0.2% · 0%MGNX0.2% · +100%CRBP0.1% · 0%ARTV0.1% · 0%REPL0.1% · 0%SNDX0.1% · 0%IMNM0.1% · 0%TECX0.1% · newRCKT0.1% · -80%KPTI0.1% · +33%ANTX0.1% · newVRDN0.1% · -89%SCYX0.1% · newQNRX0.1% · -62%XLO0.1% · 0%NSPR0.1% · -93%KLRS0.1% · +39%LRMR0.1% · 0%PRQR0.1% · 0%CNTX0.0% · -40%GOSS0.0% · 0%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 75.2%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

Name Title / Status Ownership Type

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Velan Capital Investment Management LP Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 PRAXIS PRECISION MEDICINES I PRAX 74006W207 $29.7M 18.10% 88,781 SH
2 MAPLIGHT THERAPEUTICS INC MPLT 56565P103 $17.7M 10.76% 492,893 SH
3 SUTRO BIOPHARMA INC STRO 869367201 $17.0M 10.36% 512,160 SH
4 IMMIX BIOPHARMA INC IMMX 45258H106 $11.2M 6.81% 1,085,000 SH
5 PROTARA THERAPEUTICS INC TARA 74365U107 $10.9M 6.62% 2,844,652 SH
6 ABIVAX SA ABVX 00370M103 $8.7M 5.33% 65,630 SH
7 TENAX THERAPEUTICS INC TENX 88032L605 $8.0M 4.87% 549,985 SH
8 ANTERIS TECHNOLOGIES GLOBAL AVR 03675P102 $6.9M 4.20% 700,000 SH
9 EDESA BIOTECH INC EDSA 27966L306 $6.7M 4.10% 827,500 SH
10 AVALO THERAPEUTICS INC AVTX 05338F306 $6.0M 3.65% 324,452 SH
11 EVOMMUNE INC EVMN 30054Y107 $5.9M 3.61% 446,255 SH
12 XENCOR INC XNCR 98401F105 $4.1M 2.50% 255,000 SH
13 REZOLUTE INC RZLT 76200L309 $3.9M 2.38% 750,000 SH
14 HERON THERAPEUTICS INC HRTX 427746102 $3.7M 2.28% 8,753,290 SH
15 VERRICA PHARMACEUTICALS INC VRCA 92511W207 $2.9M 1.76% 471,559 SH
16 C4 THERAPEUTICS INC CCCC 12529R107 $2.7M 1.62% 570,000 SH
17 EUPRAXIA PHARMACEUTICALS INC EPRX 29842P105 $2.3M 1.42% 352,000 SH
18 ADMA BIOLOGICS INC ADMA 000899104 $2.1M 1.27% 250,000 SH
19 REIN THERAPEUTICS INC RNTX 00887A204 $1.8M 1.08% 1,700,000 SH
20 LYELL IMMUNOPHARMA INC LYEL 55083R203 $1.5M 0.90% 105,000 SH
21 NASUS PHARMA LTD NSRX M7071P109 $1.3M 0.77% 359,390 SH
22 PROFOUND MED CORP PROF 74319B502 $1.1M 0.69% 170,278 SH
23 JASPER THERAPEUTICS INC JSPR 471871202 $1.0M 0.62% 2,423,067 SH
24 TENAX THERAPEUTICS INC Call TENX 88032L605 $999.6K 0.61% 68,700 SH
25 PROTAGONIST THERAPEUTICS INC PTGX 74366E102 $453.5K 0.28% 3,700 SH
26 CYTOMX THERAPEUTICS INC. CTMX 23284F105 $450.0K 0.27% 120,000 SH
27 NEUMORA THERAPEUTICS INC. NMRA 640979100 $391.0K 0.24% 230,000 SH
28 NURIX THERAPEUTICS INC NRIX 67080M103 $388.2K 0.24% 16,000 SH
29 OVID THERAPEUTICS INC OVID 690469101 $349.7K 0.21% 130,000 SH
30 PRECISION BIOSCIENCES INC DTIL 74019P207 $314.4K 0.19% 40,000 SH
31 MINERALYS THERAPEUTICS INC MLYS 603170101 $296.8K 0.18% 11,000 SH
32 MACROGENICS INC MGNX 556099109 $277.2K 0.17% 60,000 SH
33 CORBUS PHARMACEUTICALS HLDGS CRBP 21833P301 $243.9K 0.15% 26,000 SH
34 ARTIVA BIOTHERAPEUTICS INC ARTV 04317A107 $242.5K 0.15% 25,000 SH
35 REPLIMUNE GROUP INC REPL 76029N106 $221.4K 0.13% 20,000 SH
36 SYNDAX PHARMACEUTICALS INC SNDX 87164F105 $218.6K 0.13% 10,000 SH
37 IMMUNOME INC IMNM 45257U108 $211.9K 0.13% 10,000 SH
38 TECTONIC THERAPEUTIC INC TECX 878972108 $206.2K 0.13% 6,000 SH
39 ROCKET PHARMACEUTICALS INC RCKT 77313F106 $205.2K 0.12% 60,000 SH
40 KARYOPHARM THERAPEUTICS INC KPTI 48576U205 $195.4K 0.12% 20,000 SH
41 AN2 THERAPEUTICS INC ANTX 037326105 $193.6K 0.12% 40,000 SH
42 VIRIDIAN THERAPEUTICS INC VRDN 92790C104 $183.7K 0.11% 10,000 SH
43 SCYNEXIS INC SCYX 811292309 $162.8K 0.10% 40,000 SH
44 QUOIN PHARMACEUTICALS LTD QNRX 74907L409 $156.7K 0.10% 32,372 SH
45 XILIO THERAPEUTICS INC XLO 98422T209 $136.8K 0.08% 14,285 SH
46 INSPIREMD INC NSPR 45779A846 $103.7K 0.06% 148,138 SH
47 JASPER THERAPEUTICS INC JSPR 471871202 $103.3K 0.06% 245,328 SH
48 KALARIS THERAPEUTICS INC KLRS 482929106 $101.8K 0.06% 25,000 SH
49 LARIMAR THERAPEUTICS INC LRMR 517125100 $100.7K 0.06% 33,000 SH
50 PROQR THRAPEUTICS N V PRQR N71542109 $83.7K 0.05% 45,000 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-14 $164.2M 53 0001848809-26-000003
2026-03-31 2026-05-15 $159.6M 50 0001848809-26-000002
2025-12-31 2026-02-13 $172.4M 48 0001848809-26-000001
2025-09-30 2025-11-14 $106.5M 51 0001848809-25-000008
Filer Information
Address
100 NORTH MAIN STREET
SUITE 301
ALPHARETTA, GA 30009
Phone
(646) 844-0037
Filing Manager
Velan Capital Investment Management LP
ALPHARETTA, GA
Signatory
Alyssa Romano
Chief Financial Officer