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Livermore
ZHEN

Ikarian Capital, LLC

SEC CIK
0001778253
Latest filing
Aug 14, 2026

Holdings in Q3 2021

Holdings as of Sep 30, 2021, filed Nov 15, 2021. Long positions only; changes compare share counts with Q2 2021.

Institution overview
Positions
144
−9 vs. Q2 2021
Portfolio value
$436.7M
−$123.0M (−22.0%) vs. Q2 2021
Filed
Nov 15, 2021
SEC
Holdings of Ikarian Capital, LLC in Q3 2021
SecurityClassSharesValue% of portfolioShare changeActionHistory
BCYCBicycle Therapeutics PLCSPONSORED ADS526,500$21.9M5.0%+526,500NewHistory
GOSSGossamer Bio, Inc.COM1,351,933$17.0M3.9%+303,550+29.0%AddedHistory
CLDXCelldex Therapeutics, Inc.COM NEW270,431$14.6M3.3%−95,113−26.0%ReducedHistory
CABACabaletta Bio, Inc.COM1,187,898$14.4M3.3%+240,770+25.4%AddedHistory
XFORX4 Pharmaceuticals, IncCOM2,539,917$13.4M3.1%−179,373−6.6%ReducedHistory
SRRASierra Oncology, Inc.COM NEW573,380$12.6M2.9%+28,378+5.2%AddedHistory
IMTXImmatics N.V.SHS883,046$11.5M2.6%+657,908+292.2%AddedHistory
APLSApellis Pharmaceuticals, Inc.COM347,545$11.5M2.6%+347,545NewHistory
TCONTracon Pharmaceuticals, Inc.COM NEW2,691,110$10.4M2.4%−25,730−0.9%ReducedHistory
MISTMilestone Pharmaceuticals Inc.COM1,750,043$9.99M2.3%−230,357−11.6%ReducedHistory
INBXInhibrx Biosciences, Inc.COM289,850$9.65M2.2%+281,774+3,489.0%AddedHistory
BIIBBiogen Inc.COM32,243$9.12M2.1%−93,719−74.4%ReducedHistory
ITCIIntra-Cellular Therapies, Inc.COM211,670$7.89M1.8%−19,219−8.3%ReducedHistory
PCVXVaxcyte, Inc.COM295,111$7.49M1.7%−152,999−34.1%ReducedHistory
CMPSCOMPASS Pathways plcSPONSORED ADS229,202$6.85M1.6%+144,139+169.4%AddedHistory
ZNTLZentalis Pharmaceuticals, Inc.COM92,344$6.15M1.4%+92,344NewHistory
AYLAOld Ayala, IncCOM538,939$6.11M1.4%+538,939NewHistory
SCPHscPharmaceuticals Inc.COM901,362$5.99M1.4%−193,662−17.7%ReducedHistory
BCABBioAtla, Inc.COM196,400$5.78M1.3%+126,240+179.9%AddedHistory
XENEXenon Pharmaceuticals Inc.COM377,438$5.77M1.3%−263,168−41.1%ReducedHistory
ODTOdonate Therapeutics, Inc.COM1,840,631$5.36M1.2%−145,781−7.3%ReducedHistory
ATYRaTYR PHARMA INCCOM NEW562,246$5.11M1.2%+262,246+87.4%AddedHistory
CLVSClovis Oncology, Inc.COM1,112,669$4.96M1.1%−16,804−1.5%ReducedHistory
CMRXChimerix IncCOM801,308$4.96M1.1%−774,608−49.2%ReducedHistory
WVEWave Life Sciences, Inc.SHS993,481$4.87M1.1%+993,481NewHistory
ACADAcadia Pharmaceuticals IncCOM281,765$4.68M1.1%+71,899+34.3%AddedHistory
Bellus Health Inc New07987C204COM NEW744,616$4.57M1.0%−265,929−26.3%Reduced–
LKFTLakefront Biotherapeutics NVSPON ADR86,865$4.54M1.0%−113,135−56.6%ReducedHistory
IOVAIovance Biotherapeutics, Inc.COM172,521$4.25M1.0%−2,479−1.4%ReducedHistory
MCRBSeres Therapeutics, Inc.COM606,554$4.22M1.0%+606,554NewHistory
FNCHFinch Therapeutics Group, Inc.COM315,732$4.11M0.9%−9,268−2.9%ReducedHistory
RCORRenovacor, Inc.COM442,902$4.01M0.9%+442,902NewHistory
FOLDAmicus Therapeutics, Inc.COM414,174$3.95M0.9%+72,674+21.3%AddedHistory
MGNXMacrogenics IncCOM188,478$3.95M0.9%−271,124−59.0%ReducedHistory
VSTMVerastem, Inc.COM1,227,371$3.78M0.9%−167,023−12.0%ReducedHistory
OVIDOvid Therapeutics Inc.COM1,105,082$3.71M0.9%−19,790−1.8%ReducedHistory
LYRALyra Therapeutics, Inc.COM403,450$3.69M0.8%−221,234−35.4%ReducedHistory
CRVSCorvus Pharmaceuticals, Inc.COM757,545$3.67M0.8%+657,545+657.5%AddedHistory
AUTLAutolus Therapeutics plcSPON ADS544,819$3.57M0.8%−811,229−59.8%ReducedHistory
ISEEIVERIC bio, Inc.COM216,519$3.52M0.8%+216,519NewHistory
NXTCNextCure, Inc.COM509,155$3.43M0.8%−7,715−1.5%ReducedHistory
IGMSIGM Biosciences, Inc.COM51,500$3.39M0.8%+51,500NewHistory
CLNNClene Inc.COMMON STOCK489,321$3.34M0.8%+370,788+312.8%AddedHistory
ALLKAllakos Inc.COM31,526$3.34M0.8%−174−0.5%ReducedHistory
TARAProtara Therapeutics, Inc.COM STK479,995$3.32M0.8%−104,809−17.9%ReducedHistory
VINCVincerx Pharma, Inc.COM NEW199,057$3.22M0.7%−227,686−53.4%ReducedHistory
PHATPhathom Pharmaceuticals, Inc.COM99,560$3.20M0.7%−440−0.4%ReducedHistory
CMMBChemomab Therapeutics Ltd.SPONSORED ADS285,264$3.16M0.7%−5,270−1.8%ReducedHistory
VKTXViking Therapeutics, Inc.COM500,642$3.14M0.7%−24,112−4.6%ReducedHistory
CRSPCRISPR Therapeutics AGNAMEN AKT27,968$3.13M0.7%−91,743−76.6%ReducedHistory
TCDATricida, Inc.COM670,771$3.11M0.7%−104,523−13.5%ReducedHistory
DBVTDBV Technologies S.A.SPONSORED ADR310,110$3.11M0.7%−12,620−3.9%ReducedHistory
ACETAdicet Bio, Inc.COM392,418$3.08M0.7%+266,874+212.6%AddedHistory
ARK ETF Tr00214Q302GENOMIC REV ETF40,961$3.06M0.7%00.0%Unchanged–
STSASatsuma Pharmaceuticals, Inc.COM629,384$2.93M0.7%−14,672−2.3%ReducedHistory
RNTXRein Therapeutics, Inc.COM2,763,583$2.82M0.6%−36,417−1.3%ReducedHistory
HZNPHorizon Therapeutics Public Ltd CoSHS25,661$2.81M0.6%−29,154−53.2%ReducedHistory
OCULOcular Therapeutix, IncCOM277,551$2.77M0.6%−142,022−33.8%ReducedHistory
STROSutro Biopharma, Inc.COM134,575$2.54M0.6%−785−0.6%ReducedHistory
LQDALiquidia CorpCOM NEW884,893$2.44M0.6%−5,542−0.6%ReducedHistory
TAOXTAO Synergies Inc.COM NEW245,629$2.44M0.6%−54,371−18.1%ReducedHistory
SYBXSynlogic, Inc.COM788,818$2.41M0.6%−59,536−7.0%ReducedHistory
KAKineta, Inc.COM228,761$2.36M0.5%+9,291+4.2%AddedHistory
INCYIncyte CorpCOM32,666$2.25M0.5%−3,867−10.6%ReducedHistory
ELDNEledon Pharmaceuticals, Inc.COM344,578$2.13M0.5%−5,422−1.5%ReducedHistory
SVRASavara IncCOM1,539,691$2.13M0.5%−47,046−3.0%ReducedHistory
CDAKCodiak BioSciences, Inc.COM119,895$1.96M0.4%+119,895NewHistory
OBIOOrchestra BioMed Holdings, Inc.ORD SHS197,173$1.95M0.4%−2,827−1.4%ReducedHistory
MDGLMadrigal Pharmaceuticals, Inc.COM23,700$1.89M0.4%+46+0.2%AddedHistory
GYREGyre Therapeutics, Inc.COM NEW454,346$1.87M0.4%−126,854−21.8%ReducedHistory
QNCXQuince Therapeutics, Inc.COM20,160$1.85M0.4%−373−1.8%ReducedHistory
MXCTMaxcyte, Inc.COM150,000$1.83M0.4%+150,000NewHistory
IRONDisc Medicine, Inc.COM421,050$1.70M0.4%−5,405−1.3%ReducedHistory
KALVKalVista Pharmaceuticals, Inc.COM96,576$1.69M0.4%−389−0.4%ReducedHistory
VTGNVistagen Therapeutics, Inc.COM NEW600,693$1.65M0.4%−315,859−34.5%ReducedHistory
IFRXInflaRx N.V.COM631,048$1.63M0.4%−35,548−5.3%ReducedHistory
NTBLNotable Labs, Ltd.COM790,838$1.62M0.4%−9,973−1.2%ReducedHistory
CERECerevel Therapeutics Holdings, Inc.COM53,370$1.57M0.4%+53,370NewHistory
AVTXAvalo Therapeutics, Inc.COM718,705$1.57M0.4%−178,625−19.9%ReducedHistory
KRSAKorsana Biosciences, Inc.COM502,627$1.54M0.4%−7,297−1.4%ReducedHistory
PLRXPliant Therapeutics, Inc.COM86,712$1.46M0.3%−21,988−20.2%ReducedHistory
CASICASI Pharmaceuticals, Inc (DE)COM1,223,067$1.46M0.3%−45,087−3.6%ReducedHistory
Bellicum Pharmaceuticals, Inc079481404COM NEW496,756$1.45M0.3%−3,244−0.6%Reduced–
GRIGRI Bio, Inc.COM198,085$1.44M0.3%+58,085+41.5%AddedHistory
MBIOMustang Bio, Inc.COM506,033$1.36M0.3%−19,970−3.8%ReducedHistory
OKUROnKure Therapeutics, Inc.COM175,000$1.30M0.3%+175,000NewHistory
BDTXBlack Diamond Therapeutics, Inc.COM150,484$1.27M0.3%−3,457−2.2%ReducedHistory
DMACDiaMedica Therapeutics Inc.COM NEW311,041$1.25M0.3%−103,959−25.1%ReducedHistory
SLDBSolid Biosciences Inc.COM521,155$1.25M0.3%−154,520−22.9%ReducedHistory
QSIQuantum-Si IncCOM CL A144,406$1.20M0.3%−15,594−9.7%ReducedHistory
AGTCApplied Genetic Technologies CorpCOM390,394$1.18M0.3%−25,490−6.1%ReducedHistory
ANEBAnebulo Pharmaceuticals, Inc.COM172,309$1.16M0.3%−2,502−1.4%ReducedHistory
MRUSMerus N.V.COM50,907$1.12M0.3%−316−0.6%ReducedHistory
CRBPCorbus Pharmaceuticals Holdings, Inc.COM948,526$968.0K0.2%−15,574−1.6%ReducedHistory
BCLIBrainstorm Cell Therapeutics Inc.COM NEW289,550$955.0K0.2%−3,650−1.2%ReducedHistory
HARPHarpoon Therapeutics, Inc.COM111,292$879.0K0.2%−2,308−2.0%ReducedHistory
TPSTTempest Therapeutics, Inc.COM58,803$851.0K0.2%−31,062−34.6%ReducedHistory
RGLSRegulus Therapeutics Inc.COM NEW1,228,416$849.0K0.2%−17,573−1.4%ReducedHistory
HEPAHepion Pharmaceuticals, Inc.COM553,273$847.0K0.2%−811,786−59.5%ReducedHistory
ONCTOncternal Therapeutics, Inc.COM199,180$830.0K0.2%−1,024−0.5%ReducedHistory

Options (51)

Puts and calls in the same filing. Amounts are the market value of the underlying shares, which is what 13F reports.

Option positions of Ikarian Capital, LLC in Q3 2021
SecurityClassPutsCalls
SPYSPDR S&P 500 ETF TrustETF$128.7M–
State Street SPDR S&P Biotech ETF78464A870ETF$81.7M$37.7M
CLDXCelldex Therapeutics, Inc.COM NEW$28.1M$42.7M
RETAReata Pharmaceuticals IncCL A$47.4M$11.0M
BIIBBiogen Inc.COM–$47.4M
HZNPHorizon Therapeutics Public Ltd CoSHS–$46.2M
UNHUnitedHealth Group IncStock–$39.1M
ALNYAlnylam Pharmaceuticals, Inc.COM–$33.9M
SRPTSarepta Therapeutics, Inc.COM–$33.4M
RFLRafael Holdings, Inc.COM CL B$12.7M$17.8M
KRYSKrystal Biotech, Inc.COM$15.3M$14.7M
CMPSCOMPASS Pathways plcSPONSORED ADS–$25.3M
CRSPCRISPR Therapeutics AGNAMEN AKT$22.1M–
ChemoCentryx, Inc.16383L106COM$10.3M$10.3M
ALLKAllakos Inc.COM$3.96M$16.0M
APLSApellis Pharmaceuticals, Inc.COM$11.4M$7.68M
KODKodiak Sciences Inc.COM–$16.1M
NVAXNovavax IncCOM NEW–$14.5M
ZNTLZentalis Pharmaceuticals, Inc.COM–$13.3M
QNCXQuince Therapeutics, Inc.COM–$13.0M
MRTXMirati Therapeutics, Inc.COM$231.0K$12.4M
EDITEditas Medicine, Inc.COM$10.4M$2.05M
XENEXenon Pharmaceuticals Inc.COM$3.52M$8.35M
MRKMerck & Co., Inc.Stock–$11.3M
DRNADicerna Pharmaceuticals IncCOM–$9.95M
MGNXMacrogenics IncCOM–$9.34M
ZGNXZogenix, Inc.COM NEW–$8.97M
ARNAArena Pharmaceuticals IncCOM NEW–$8.85M
INCYIncyte CorpCOM–$6.79M
FOLDAmicus Therapeutics, Inc.COM$3.85M$2.87M
IGMSIGM Biosciences, Inc.COM–$6.58M
ELANElanco Animal Health IncCOM–$6.38M
AZNAstraZeneca PLCSPONSORED ADR–$6.01M
FATEFate Therapeutics IncCOM$5.93M–
BCYCBicycle Therapeutics PLCSPONSORED ADS–$5.41M
ALDXAldeyra Therapeutics, Inc.COM–$5.27M
RLAYRelay Therapeutics, Inc.COM$2.52M$2.52M
OCULOcular Therapeutix, IncCOM–$4.93M
AVIRAtea Pharmaceuticals, Inc.COM$799.0K$4.09M
IOVAIovance Biotherapeutics, Inc.COM$4.83M–
AUPHAurinia Pharmaceuticals Inc.COM–$4.43M
BCRXBiocryst Pharmaceuticals IncCOM–$3.59M
Trillium Therapeutics Inc.89620X506COM NEW–$3.48M
TGTXTG Therapeutics, Inc.COM$3.28M–
ISEEIVERIC bio, Inc.COM–$3.25M
GOSSGossamer Bio, Inc.COM–$2.33M
NKTRNektar TherapeuticsCOM–$2.06M
LONALeonaBio, Inc.COM–$1.41M
ASNDAscendis Pharma A/SSPONSORED ADR–$1.34M
PTGXProtagonist Therapeutics, IncCOM–$1.08M
DCPHDeciphera Pharmaceuticals, Inc.COM–$1.01M

Sold out since Q2 2021 (30)

Positions held at the end of Q2 2021 that are gone from this filing.

Positions of Ikarian Capital, LLC sold out since Q2 2021
SecurityClassShares in Q2 2021Value in Q2 2021% of portfolio in Q2 2021History
ALECAlector, Inc.COM674,723$14.1M2.5%History
ANVSAnnovis Bio, Inc.COM103,527$8.86M1.6%History
CGEMCullinan Therapeutics, Inc.COM295,596$7.61M1.4%History
ChemoCentryx, Inc.16383L106COM471,376$6.31M1.1%–
Chardan Healthcr Acqstn 2 Co15957T206UNIT 99/99/9999400,000$4.37M0.8%–
NBPNovaBridge BiosciencesSPONSORED ADS46,066$3.87M0.7%History
RDNTRadNet, Inc.COM110,647$3.73M0.7%History
KDMNKadmon Holdings, Inc.COM936,615$3.63M0.6%History
ASNDAscendis Pharma A/SSPONSORED ADR21,825$2.87M0.5%History
CM Life Sciences Inc18978W109COM CL A200,000$2.80M0.5%–
ALPNAlpine Immune Sciences, Inc.COM300,454$2.70M0.5%History
CYTKCytokinetics IncCOM NEW120,895$2.39M0.4%History
ICADIcad IncCOM NEW128,137$2.22M0.4%History
ZGNXZogenix, Inc.COM NEW124,091$2.14M0.4%History
BCELAtreca, Inc.CL A COM250,000$2.13M0.4%History
FULCFulcrum Therapeutics, Inc.COM162,700$1.71M0.3%History
ACIUAC Immune SASHS196,208$1.56M0.3%History
Auris Medical Holding LtdG07025201SHS404,588$1.45M0.3%–
LLYEli Lilly & CoStock5,677$1.30M0.2%History
Catabasis Pharmaceuticals IN14875P206COM NEW532,298$1.12M0.2%–
PSTXPoseida Therapeutics, Inc.COM85,837$861.0K0.2%History
Affimed N VN01045108COM93,100$792.0K0.1%–
KRROKorro Bio, Inc.COM69,879$696.0K0.1%History
CCCCC4 Therapeutics, Inc.COM STK17,600$666.0K0.1%History
ANABAnaptysbio, IncCOM21,553$558.0K0.1%History
FLNAFilana Therapeutics, Inc.COM5,362$458.0K0.1%History
Chiasma, Inc16706W102COM90,437$428.0K0.1%–
TVRDTvardi Therapeutics, Inc.COM29,335$418.0K0.1%History
FATEFate Therapeutics IncCOM3,600$313.0K0.1%History
Chardan Healthcr Acqstn 2 Co15957T107COM30,000$300.0K0.1%–