Stonepine Capital Management, LLC 13F holdings
Stonepine Capital Management, LLC reported 82 positions with a total reported value of $299.1M as of 2026-06-30, in its 13F for Q2 2026, filed 2026-08-17. Top holdings by reported value: VSTM VERASTEM INC (8.6%), EOLS EVOLUS INC (7.4%), TENX TENAX THERAPEUTICS INC (6.4%), NKTR NEKTAR THERAPEUTICS (5.6%), ADMA ADMA BIOLOGICS INC (4.1%). Against 2026-03-31 it opened 26 new positions and exited 10. Next 13F due by 2026-11-14, the legal deadline 45 days after the quarter ending 2026-09-30.
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Top holdings
25 largest of 82 positions · reported value as of 2026-06-30
| Holding | Shares | Reported value | % of portfolio |
|---|---|---|---|
| VSTM VERASTEM INC | 6,699,254 | $25.6M | 8.6% |
| EOLS EVOLUS INC | 3,180,324 | $22.1M | 7.4% |
| TENX TENAX THERAPEUTICS INC | 1,320,000 | $19.2M | 6.4% |
| NKTR NEKTAR THERAPEUTICS | 241,308 | $16.8M | 5.6% |
| ADMA ADMA BIOLOGICS INC | 1,480,000 | $12.4M | 4.1% |
| CAMP CAMP4 THERAPEUTICS CORP | 2,779,244 | $12.1M | 4.1% |
| ELOX ELOXX PHARMACEUTICALS INC | 844,320 | $11.7M | 3.9% |
| AYTU AYTU BIOPHARMA INC | 5,903,159 | $11.6M | 3.9% |
| KZIA KAZIA THERAPEUTICS LTD | 690,358 | $9.7M | 3.3% |
| AZTR AZITRA INC | 87,083,029 | $8.9M | 3.0% |
| INDV INDIVIOR PHARMACEUTICALS INC | 200,000 | $8.2M | 2.7% |
| CRBP CORBUS PHARMACEUTICALS HLDGS | 850,000 | $8.0M | 2.7% |
| MSLE SATELLOS BIOSCIENCE INC | 983,248 | $7.4M | 2.5% |
| ZVRA ZEVRA THERAPEUTICS INC | 517,402 | $7.4M | 2.5% |
| ABEO ABEONA THERAPEUTICS INC | 1,114,568 | $6.9M | 2.3% |
| CNSP CNS PHARMACEUTICALS INC | 1,387,494 | $6.6M | 2.2% |
| EDSA EDESA BIOTECH INC | 912,878 | $6.4M | 2.1% |
| CABA CABALETTA BIO INC | 1,834,200 | $5.7M | 1.9% |
| ANTX AN2 THERAPEUTICS INC | 1,103,384 | $5.3M | 1.8% |
| CRIS CURIS INC | 17,624,372 | $4.9M | 1.6% |
| SRZN SURROZEN INC | 68,001 | $4.7M | 1.6% |
| XLO XILIO THERAPEUTICS INC | 451,988 | $4.3M | 1.4% |
| ACET ADICET BIO INC | 491,036 | $4.2M | 1.4% |
| TELA TELA BIO INC | 5,324,854 | $4.0M | 1.3% |
| INAB IN8BIO INC | 2,319,849 | $3.3M | 1.1% |
SEC FORM 13F · Q2 2026 · VALUES AS REPORTED, NOT PRICES
New positions this quarter
Held at 2026-06-30, not at 2026-03-31 · 26 in all · reported value as of 2026-06-30
| Holding | Shares | Reported value | % of portfolio |
|---|---|---|---|
| ELOX ELOXX PHARMACEUTICALS INC | 844,320 | $11.7M | 3.9% |
| AZTR AZITRA INC | 87,083,029 | $8.9M | 3.0% |
| INDV INDIVIOR PHARMACEUTICALS INC | 200,000 | $8.2M | 2.7% |
| SPRB SPRUCE BIOSCIENCES INC | 57,590 | $3.1M | 1.0% |
| MLTX MOONLAKE IMMUNOTHERAPEUTICS | 100,000 | $1.9M | 0.7% |
| CALC CALCIMEDICA INC | 2,751,029 | $1.8M | 0.6% |
| RARE ULTRAGENYX PHARMACEUTICAL IN | 50,000 | $1.7M | 0.6% |
| ADIL ADIAL PHARMACEUTICALS INC | 727,563 | $1.6M | 0.5% |
| NVCT NUVECTIS PHARMA INC | 80,000 | $1.5M | 0.5% |
| ORKA ORUKA THERAPEUTICS INC | 15,000 | $1.4M | 0.5% |
| NGEN NERVGEN PHARMA CORP | 843,356 | $1.3M | 0.4% |
| SINT SINTX TECHNOLOGIES INC | 836,820 | $891.0K | 0.3% |
| QTI QT IMAGING HLDGS INC | 200,000 | $814.0K | 0.3% |
| CLRB CELLECTAR BIOSCIENCES INC | 209,100 | $581.3K | 0.2% |
| EPRX EUPRAXIA PHARMACEUTICALS INC | 86,982 | $575.0K | 0.2% |
| ANL ADLAI NORTYE LTD | 48,514 | $557.9K | 0.2% |
| SENS SENSEONICS HLDGS INC | 97,360 | $553.0K | 0.2% |
| IMA IMAGENEBIO INC | 96,172 | $539.0K | 0.2% |
| RNTX REIN THERAPEUTICS INC | 436,076 | $453.5K | 0.2% |
| HUMA HUMACYTE INC | 462,598 | $361.0K | 0.1% |
| MLSS MILESTONE PHARMACEUTICALS IN | 666,666 | $348.6K | 0.1% |
| INO INOVIO PHARMACEUTICALS INC | 1,345,237 | $210.2K | <0.1% |
| DTIL PRECISION BIOSCIENCES INC | 40,000 | $128.4K | <0.1% |
| TNYA TENAYA THERAPEUTICS INC | 352,001 | $107.4K | <0.1% |
| GRCE GRACE THERAPEUTICS INC | 294,550 | $62.1K | <0.1% |
Sold out
Held at 2026-03-31, gone by 2026-06-30 · 10 in all · reported value as of 2026-03-31
| Holding | Shares 2026-03-31 | Reported value | % of portfolio then |
|---|---|---|---|
| XOMA XOMA ROYALTY CORPORATION | 69,500 | $2.2M | 1.9% |
| CADL CANDEL THERAPEUTICS INC | 102,500 | $502.2K | 0.4% |
| ESTA ESTABLISHMENT LABS HLDGS INC | 6,000 | $340.7K | 0.3% |
| JANX JANUX THERAPEUTICS INC | 20,000 | $278.0K | 0.2% |
| OABI OMNIAB INC | 164,045 | $257.6K | 0.2% |
| XERS XERIS BIOPHARMA HOLDINGS INC | 40,030 | $232.2K | 0.2% |
| NMRA NEUMORA THERAPEUTICS INC. | 100,000 | $195.0K | 0.2% |
| SIBN SI BONE INC | 14,964 | $189.0K | 0.2% |
| ELDN ELEDON PHARMACEUTICALS INC | 35,000 | $107.8K | <0.1% |
| MNKD MANNKIND CORP | 16,300 | $39.9K | <0.1% |
Biggest increases and decreases
Positions held at both quarter ends, by change in shares · reported value as of 2026-06-30
Increases
| Holding | Shares 2026-03-31 | Shares 2026-06-30 | Change | Reported value |
|---|---|---|---|---|
| VSTM VERASTEM INC | 3,302,300 | 6,699,254 | +102.9% | $25.6M |
| NKTR NEKTAR THERAPEUTICS | 85,000 | 241,308 | +183.9% | $16.8M |
| AYTU AYTU BIOPHARMA INC | 792,289 | 5,903,159 | +645.1% | $11.6M |
| EOLS EVOLUS INC | 1,759,091 | 3,180,324 | +80.8% | $22.1M |
| MSLE SATELLOS BIOSCIENCE INC | 100,000 | 983,248 | +883.2% | $7.4M |
| CNSP CNS PHARMACEUTICALS INC | 61,000 | 1,387,494 | +2,174.6% | $6.6M |
| ADMA ADMA BIOLOGICS INC | 740,000 | 1,480,000 | +100.0% | $12.4M |
| EDSA EDESA BIOTECH INC | 30,000 | 912,878 | +2,942.9% | $6.4M |
| CAMP CAMP4 THERAPEUTICS CORP | 1,389,622 | 2,779,244 | +100.0% | $12.1M |
| CABA CABALETTA BIO INC | 50,000 | 1,834,200 | +3,568.4% | $5.7M |
| TENX TENAX THERAPEUTICS INC | 975,200 | 1,320,000 | +35.4% | $19.2M |
| KZIA KAZIA THERAPEUTICS LTD | 345,179 | 690,358 | +100.0% | $9.7M |
Decreases
| Holding | Shares 2026-03-31 | Shares 2026-06-30 | Change | Reported value |
|---|---|---|---|---|
| BOLD BOUNDLESS BIO INC | 597,682 | 309,190 | -48.3% | $773.0K |
| CDXS CODEXIS INC | 417,994 | 219,324 | -47.5% | $495.7K |
| BIOA BIOAGE LABS INC | 50,000 | 40,000 | -20.0% | $980.4K |
| HRTX HERON THERAPEUTICS INC | 1,402,191 | 981,574 | -30.0% | $418.9K |
| BCAB BIOATLA INC | 65,387 | 32,864 | -49.7% | $136.1K |
| CBIO CRESCENT BIOPHARMA INC. | 85,000 | 80,000 | -5.9% | $1.4M |
| CGEN COMPUGEN LTD | 104,300 | 62,774 | -39.8% | $134.3K |
| POCI PRECISION OPTICS CORP INC MA | 100,000 | 92,780 | -7.2% | $473.2K |
| VRCA VERRICA PHARMACEUTICALS INC | 99,735 | 88,417 | -11.3% | $241.5K |
CIK 1440771 · 13F FILINGS ON EDGAR · INFORMATIONAL ONLY
