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Livermore
Livermore
ZHEN

Stonepine Capital Management, LLC

SEC CIK
0001440771
Latest filing
Aug 17, 2026

The latest 13F from Stonepine Capital Management, LLC covers Q2 2026 (filed Aug 17, 2026): 72 long positions worth $131.4M. The top 10 holdings make up 55.3% of the portfolio, and the largest is Verastem, Inc. (VSTM) at 9.7%. Livermore has 26 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
18
Est. +$18.7M
Added
24
Est. +$16.4M
Reduced
25
Est. −$19.2M
Sold out
12
Est. −$5.81M

Top 5 holdings

Share of this quarter's portfolio value

  1. VSTMVerastem, Inc.
    9.7%$12.8MHistory
  2. EOLSEvolus, Inc.
    8.4%$11.0MHistory
  3. TENXTenax Therapeutics, Inc.
    7.3%$9.60MHistory
  4. NKTRNektar Therapeutics
    6.4%$8.42MHistory
  5. ADMAAdma Biologics, Inc.
    4.7%$6.19MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. ELOXEloxx Pharmaceuticals, Inc.
    +$5.51MNewHistory
  2. INDVIndivior Pharmaceuticals, Inc.
    +$4.10MNewHistory
  3. EDSAEdesa Biotech, Inc.
    +$2.98MAddedHistory
  4. MSLESatellos Bioscience Inc.
    +$2.97MAddedHistory
  5. CABACabaletta Bio, Inc.
    +$2.70MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. ELOXEloxx Pharmaceuticals, Inc.
    +4.20 pp0.0% → 4.2%History
  2. INDVIndivior Pharmaceuticals, Inc.
    +3.12 pp0.0% → 3.1%History
  3. MSLESatellos Bioscience Inc.
    +2.34 pp0.5% → 2.8%History
  4. EDSAEdesa Biotech, Inc.
    +2.29 pp0.1% → 2.4%History
  5. CABACabaletta Bio, Inc.
    +2.05 pp0.1% → 2.2%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. TENXTenax Therapeutics, Inc.
    −$4.59MReducedHistory
  2. ZVRAZevra Therapeutics, Inc.
    −$3.17MReducedHistory
  3. XOMAXOMA Royalty Corp
    −$2.18MSold outHistory
  4. EOLSEvolus, Inc.
    −$1.17MReducedHistory
  5. ABEOAbeona Therapeutics Inc.
    −$1.17MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. TENXTenax Therapeutics, Inc.
    −6.41 pp13.7% → 7.3%History
  2. XOMAXOMA Royalty Corp
    −1.92 pp1.9% → 0.0%History
  3. SLGLSol-Gel Technologies Ltd.
    −1.12 pp1.9% → 0.8%History
  4. ZVRAZevra Therapeutics, Inc.
    −1.11 pp3.9% → 2.8%History
  5. SRZNSurrozen, Inc.
    −0.85 pp0.8% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$131.4M
+$17.7M (+15.5%) vs. prior quarter
Positions
72
+6 vs. prior quarter
Top 10 concentration
55.3%
Top 10 as share of value
Turnover
20.4%
Q2 2026, one quarter
Average holding period
5.8 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $301.0M (Q3 2023)

Q1 2021: $185.1MQ2 2021: $191.2MQ3 2021: $219.8MQ4 2021: $217.9MQ1 2022: $241.1MQ2 2022: $214.9MQ3 2022: $222.4MQ4 2022: $237.7MQ1 2023: $298.2MQ2 2023: $277.2MQ3 2023: $301.0MQ4 2023: $231.2MQ1 2024: $126.1MQ2 2024: $109.6MQ3 2024: $158.2MQ4 2024: $123.9MQ1 2025: $86.1MQ2 2025: $101.5MQ3 2025: $123.0MQ4 2025: $126.4MQ1 2026: $113.7MQ2 2026: $131.4M
Q1 2021Q2 2026
13F filings of Stonepine Capital Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 17, 2026Amended72$131.4MVSTMEOLSTENXvs. Q1 2026SEC
Q1 2026May 14, 202666$113.7MVSTMTENXEOLSvs. Q4 2025SEC
Q4 2025Feb 13, 202661$126.4MVSTMADMAEOLSvs. Q3 2025SEC
Q3 2025Nov 13, 202558$123.0MVSTMADMAEOLSvs. Q2 2025SEC
Q2 2025Aug 13, 202558$101.5MADMAEOLSZVRAvs. Q1 2025SEC
Q1 2025May 14, 202566$86.1MEOLSOPTNZVRAvs. Q4 2024SEC
Q4 2024Feb 14, 202552$123.9MADMAEOLSTELAvs. Q3 2024SEC
Q3 2024Nov 13, 202438$158.2MADMAEOLSLKFTvs. Q2 2024SEC
Q2 2024Aug 21, 2024Amended25$109.6MADMAALIMEOLSvs. Q1 2024SEC
Q1 2024May 15, 202420$126.1MEOLSADMAALIMvs. Q4 2023SEC
Q4 2023Feb 13, 202416$231.2MEOLSADMAAMLXvs. Q3 2023SEC
Q3 2023Nov 13, 202323$301.0MQDELEOLSAMLXvs. Q2 2023SEC
Q2 2023Aug 16, 2023Amended21$277.2MQDELEOLSADMAvs. Q1 2023SECSEC
Q1 2023May 12, 202322$298.2MAmryt Pharma PLCLKFTCTICvs. Q4 2022SEC
Q4 2022Feb 14, 202319$237.7MAmryt Pharma PLCAPENCTICvs. Q3 2022SEC
Q3 2022Nov 10, 202219$222.4MAmryt Pharma PLCQDELCTICvs. Q2 2022SEC
Q2 2022Aug 12, 202225$214.9MAmryt Pharma PLCCTICXERSvs. Q1 2022SEC
Q1 2022May 16, 202228$241.1MAmryt Pharma PLCCTICXERSvs. Q4 2021SEC
Q4 2021Feb 14, 202223$217.9MAmryt Pharma PLCCTICXERSvs. Q3 2021SEC
Q3 2021Nov 12, 202131$219.8MAmryt Pharma PLCCTICADMSvs. Q2 2021SEC
Q2 2021Aug 16, 2021Amended26$191.2MAmryt Pharma PLCChiasma, IncCTICvs. Q1 2021SEC
Q1 2021May 14, 202129$185.1MAmryt Pharma PLCADMSChiasma, Inc–SEC

13D and 13G filings

Companies where Stonepine Capital Management, LLC reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

16 companies, largest stake first.

Companies where Stonepine Capital Management, LLC owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
QNRXQuoin Pharmaceuticals Ltd.13G/A9.99%7.59M shares−0.61 ppfrom 10.60%Dec 16, 20253 filingsMay 15, 2026SEC
AEONAEON Biopharma, Inc.13G9.90%6.89M sharesNewJul 21, 20261 filingJul 21, 2026SEC
CRISCuris Inc13G9.90%4.03M sharesNewMar 27, 20261 filingMar 27, 2026SEC
AZTRAzitra, Inc.13G9.90%1.74M sharesNewJun 22, 20261 filingJun 22, 2026SEC
INABIN8BIO, Inc.13G9.90%1.01M sharesNewDec 22, 20251 filingDec 22, 2025SEC
AYTUAytu Biopharma, Inc13G/A9.90%906.1K shares–Feb 12, 20216 filingsAug 13, 2025SEC
CLRBCellectar Biosciences, Inc.13G9.90%863.3K sharesNewMay 11, 20261 filingMay 11, 2026SEC
SINTSintx Technologies, Inc.13G9.90%619.6K sharesNewJun 9, 20261 filingJun 9, 2026SEC
ELOXEloxx Pharmaceuticals, Inc.13G9.90%403.2K sharesNewJun 16, 20261 filingJun 16, 2026SEC
CNSPCNS Pharmaceuticals, Inc.13G/A9.90%159.8K shares+2.00 ppfrom 7.90%Nov 4, 20253 filingsMay 15, 2026SEC
OPTNOptiNose, Inc.13G/A7.80%788.6K shares+1.90 ppfrom 5.90%Nov 20, 20243 filingsMay 14, 2025SEC
FEMYFemasys Inc13G7.20%625.0K sharesNewAug 31, 20261 filingAug 31, 2026SEC
EDSAEdesa Biotech, Inc.13G6.90%953.7K shares+6.60 ppfrom 0.30%Feb 25, 20253 filingsAug 26, 2026SEC
TELATELA Bio, Inc.13G/A6.00%2.35M shares–Oct 29, 20242 filingsFeb 13, 2025SEC
CALCCalciMedica, Inc.13G6.00%2.15M shares+1.40 ppfrom 4.60%Jan 31, 20245 filingsAug 25, 2026SEC
KTTAPasithea Therapeutics Corp.13G5.80%1.95M sharesNewJun 23, 20261 filingJun 23, 2026SEC

Latest filings

138 filings on file made by Stonepine Capital Management, LLC or listing it as a reporting person; the latest 20 are shown.

Schedule 13D and 13G filings by Stonepine Capital Management, LLC
CompanyFiled (ET)FormStakeChangeEvent dateFiling
FEMYFemasys IncAug 31, 20262:34 PM ET13G7.20%625.0K sharesNewAug 10, 2026SEC
EDSAEdesa Biotech, Inc.Aug 26, 20264:41 PM ET13G6.90%953.7K shares+6.60 ppfrom 0.30%Aug 20, 2026SEC
CALCCalciMedica, Inc.Aug 25, 20264:22 PM ET13G6.00%2.15M shares+1.40 ppfrom 4.60%Aug 19, 2026SEC
AEONAEON Biopharma, Inc.Jul 21, 20264:23 PM ET13G9.90%6.89M sharesNewJul 15, 2026SEC
KTTAPasithea Therapeutics Corp.Jun 23, 20265:40 PM ET13G5.80%1.95M sharesNewJun 17, 2026SEC
AZTRAzitra, Inc.Jun 22, 20265:00 PM ET13G9.90%1.74M sharesNewJun 16, 2026SEC
ELOXEloxx Pharmaceuticals, Inc.Jun 16, 20266:04 PM ET13G9.90%403.2K sharesNewJun 9, 2026SEC
SINTSintx Technologies, Inc.Jun 9, 20264:07 PM ET13G9.90%619.6K sharesNewJun 2, 2026SEC
TENXTenax Therapeutics, Inc.May 15, 20265:26 PM ET13G/A3.70%975.2K shares–Below 5%Mar 31, 2026SEC
QNRXQuoin Pharmaceuticals Ltd.May 15, 20265:23 PM ET13G/A9.99%7.59M shares−0.61 ppfrom 10.60%Mar 31, 2026SEC
EDSAEdesa Biotech, Inc.May 15, 20265:15 PM ET13G/A0.30%30.0K shares−9.60 ppfrom 9.90%Below 5%Mar 31, 2026SEC
CNSPCNS Pharmaceuticals, Inc.May 15, 20265:10 PM ET13G/A9.90%159.8K shares+2.00 ppfrom 7.90%Mar 31, 2026SEC
CLRBCellectar Biosciences, Inc.May 11, 20267:05 PM ET13G9.90%863.3K sharesNewMay 4, 2026SEC
CRISCuris IncMar 27, 20266:58 PM ET13G9.90%4.03M sharesNewMar 17, 2026SEC
SRZNSurrozen, Inc.Feb 13, 20265:06 PM ET13G/A3.60%316.3K shares−2.20 ppfrom 5.80%Below 5%Dec 31, 2025SEC
CNSPCNS Pharmaceuticals, Inc.Feb 13, 20265:02 PM ET13G/A7.90%48.8K shares+2.30 ppfrom 5.60%Dec 31, 2025SEC
KZRKezar Life Sciences, Inc.Feb 13, 20265:00 PM ET13G/A2.10%156.2K shares−3.10 ppfrom 5.20%Below 5%Dec 31, 2025SEC
QNRXQuoin Pharmaceuticals Ltd.Feb 2, 20268:01 PM ET13G/A10.60%3.27M shares+0.70 ppfrom 9.90%Jan 29, 2026SEC
INABIN8BIO, Inc.Dec 22, 20255:15 PM ET13G9.90%1.01M sharesNewDec 19, 2025SEC
QNRXQuoin Pharmaceuticals Ltd.Dec 16, 20254:04 PM ET13G9.90%3.03M sharesNewDec 10, 2025SEC