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Livermore
Livermore
ZHEN

Ikarian Capital, LLC

SEC CIK
0001778253
Latest filing
Aug 14, 2026

Holdings in Q2 2023

Holdings as of Jun 30, 2023, filed Aug 14, 2023. Long positions only; changes compare share counts with Q1 2023.

Institution overview
Positions
81
−9 vs. Q1 2023
Portfolio value
$283.5M
+$42.6M (+17.7%) vs. Q1 2023
Filed
Aug 14, 2023
SEC
Holdings of Ikarian Capital, LLC in Q2 2023
SecurityClassSharesValue% of portfolioShare changeActionHistory
SLRNACELYRIN, Inc.COM2,918,426$61.0M21.5%+2,918,426NewHistory
APLSApellis Pharmaceuticals, Inc.COM133,800$12.2M4.3%+33,800+33.8%AddedHistory
MRKMerck & Co., Inc.Stock100,000$11.5M4.1%00.0%UnchangedHistory
IDYAIDEAYA Biosciences, Inc.COM490,893$11.5M4.1%+490,893NewHistory
NUVLNuvalent, Inc.COM272,752$11.5M4.1%+272,752NewHistory
IRONDisc Medicine, Inc.COM240,031$10.7M3.8%+240,031NewHistory
INSMINSMED IncCOM PAR $.01485,000$10.2M3.6%00.0%UnchangedHistory
BHVNBiohaven Ltd.COM427,417$10.2M3.6%+25,091+6.2%AddedHistory
CRNXCrinetics Pharmaceuticals, Inc.COM475,000$8.56M3.0%+475,000NewHistory
IMGNImmunoGen, Inc.COM447,700$8.45M3.0%+447,700NewHistory
BBIOBridgeBio Pharma, Inc.COM429,686$7.39M2.6%−165,000−27.7%ReducedHistory
PCVXVaxcyte, Inc.COM140,000$6.99M2.5%−85,000−37.8%ReducedHistory
MRNSMarinus Pharmaceuticals, Inc.COM NEW611,932$6.65M2.3%+611,932NewHistory
BMEABiomea Fusion, Inc.COM275,875$6.06M2.1%+64,900+30.8%AddedHistory
RCUSArcus Biosciences, Inc.COM280,000$5.69M2.0%+50,000+21.7%AddedHistory
RAREUltragenyx Pharmaceutical Inc.COM121,658$5.61M2.0%+121,658NewHistory
XENEXenon Pharmaceuticals Inc.COM135,486$5.22M1.8%−25,000−15.6%ReducedHistory
BCYCBicycle Therapeutics PLCSPONSORED ADS203,037$5.18M1.8%−4,075−2.0%ReducedHistory
ATXSAstria Therapeutics, Inc.COM579,390$4.83M1.7%−290,000−33.4%ReducedHistory
ARWRArrowhead Pharmaceuticals, Inc.COM130,000$4.64M1.6%+130,000NewHistory
LYRALyra Therapeutics, Inc.COM978,626$4.02M1.4%+634,941+184.7%AddedHistory
LBPHLongboard Pharmaceuticals, Inc.COM504,253$3.70M1.3%+504,253NewHistory
VYGRVoyager Therapeutics, Inc.COM300,000$3.44M1.2%+300,000NewHistory
ALLKAllakos Inc.COM772,092$3.37M1.2%+772,092NewHistory
ABOSAcumen Pharmaceuticals, Inc.COM654,945$3.15M1.1%+400,000+156.9%AddedHistory
TERNTerns Pharmaceuticals, Inc.COM315,480$2.76M1.0%−405,861−56.3%ReducedHistory
BDTXBlack Diamond Therapeutics, Inc.COM545,103$2.75M1.0%+545,103NewHistory
DCPHDeciphera Pharmaceuticals, Inc.COM174,510$2.46M0.9%00.0%UnchangedHistory
ESPREsperion Therapeutics, Inc.COM1,705,605$2.37M0.8%+350,000+25.8%AddedHistory
ROIVRoivant Sciences Ltd.SHS225,000$2.27M0.8%−350,000−60.9%ReducedHistory
ACRSAclaris Therapeutics, Inc.COM200,163$2.08M0.7%−100,000−33.3%ReducedHistory
KZRKezar Life Sciences, Inc.COM841,596$2.06M0.7%00.0%UnchangedHistory
BIVIBiovie Inc.CL A NEW448,556$1.93M0.7%+100,000+28.7%AddedHistory
ICPTIntercept Pharmaceuticals, Inc.COM160,200$1.77M0.6%+75,000+88.0%AddedHistory
ELEVElevation Acquisition Group Inc.COM1,149,490$1.75M0.6%+1,149,490NewHistory
LEGNLegend Biotech CorpSPONSORED ADS25,000$1.73M0.6%+25,000NewHistory
MRUSMerus N.V.COM63,125$1.66M0.6%−145,525−69.7%ReducedHistory
IMUXImmunic, Inc.COM650,000$1.63M0.6%00.0%UnchangedHistory
JSPRJasper Therapeutics, Inc.COM1,125,087$1.54M0.5%−1,200−0.1%ReducedHistory
SCPHscPharmaceuticals Inc.COM150,000$1.53M0.5%+150,000NewHistory
CRBPCorbus Pharmaceuticals Holdings, Inc.COM NEW192,260$1.51M0.5%00.0%UnchangedHistory
BLUEbluebird bio, Inc.COM412,628$1.36M0.5%00.0%UnchangedHistory
MISTMilestone Pharmaceuticals Inc.COM460,416$1.31M0.5%00.0%UnchangedHistory
KALVKalVista Pharmaceuticals, Inc.COM140,000$1.26M0.4%00.0%UnchangedHistory
OKUROnKure Therapeutics, Inc.COM155,819$1.02M0.4%00.0%UnchangedHistory
PTGXProtagonist Therapeutics, IncCOM35,000$966.7K0.3%+35,000NewHistory
ARDXArdelyx, Inc.COM278,825$945.2K0.3%−300,000−51.8%ReducedHistory
TYRATyra Biosciences, Inc.COM48,170$820.3K0.3%00.0%UnchangedHistory
TCONTracon Pharmaceuticals, Inc.COM NEW2,765,530$804.8K0.3%00.0%UnchangedHistory
PRQRProQR Therapeutics N.V.SHS EURO472,625$765.7K0.3%00.0%UnchangedHistory
STOKStoke Therapeutics, Inc.COM70,390$748.2K0.3%+70,390NewHistory
COGTCogent Biosciences, Inc.COM62,766$743.1K0.3%00.0%UnchangedHistory
KPTIKaryopharm Therapeutics Inc.COM400,000$716.0K0.3%+100,000+33.3%AddedHistory
XFORX4 Pharmaceuticals, IncCOM349,133$677.3K0.2%00.0%UnchangedHistory
AUTLAutolus Therapeutics plcSPON ADS260,087$619.0K0.2%00.0%UnchangedHistory
KYNBKyntra Bio, Inc.COM228,420$616.7K0.2%+228,420NewHistory
IMTXImmatics N.V.SHS49,031$565.8K0.2%−130,521−72.7%ReducedHistory
RETAReata Pharmaceuticals IncCL A5,472$557.9K0.2%−75,092−93.2%ReducedHistory
HOOKHOOKIPA Pharma Inc.COM600,000$528.0K0.2%+600,000NewHistory
OCULOcular Therapeutix, IncCOM100,000$516.0K0.2%−100,000−50.0%ReducedHistory
TARAProtara Therapeutics, Inc.COM STK188,664$450.9K0.2%00.0%UnchangedHistory
KODKodiak Sciences Inc.COM62,527$431.4K0.2%−100,000−61.5%ReducedHistory
BCLIBrainstorm Cell Therapeutics Inc.COM NEW189,935$391.3K0.1%00.0%UnchangedHistory
ANEBAnebulo Pharmaceuticals, Inc.COM156,203$340.5K0.1%00.0%UnchangedHistory
ELDNEledon Pharmaceuticals, Inc.COM221,830$303.9K0.1%00.0%UnchangedHistory
MREOMereo BioPharma Group plcSPON ADS891,676$300.2K0.1%+891,676NewHistory
CMMBChemomab Therapeutics Ltd.SPONSORED ADS213,392$279.5K0.1%−23,317−9.9%ReducedHistory
PNTPOINT Biopharma Global Inc.COM28,784$260.8K0.1%−110,781−79.4%ReducedHistory
CNTBConnect Biopharma Holdings LtdADS219,501$243.6K0.1%00.0%UnchangedHistory
VRNAVerona Pharma plcSPONSORED ADS313,677$219.2K0.1%+85,000+37.2%AddedHistory
ASNDAscendis Pharma A/SSPONSORED ADR2,090$186.5K0.1%+2,090NewHistory
MRSNMersana Therapeutics, Inc.COM50,000$164.5K0.1%+50,000NewHistory
RLMDRelmada Therapeutics, Inc.COM65,491$161.1K0.1%00.0%UnchangedHistory
SYBXSynlogic, Inc.COM306,757$131.9K<0.1%00.0%UnchangedHistory
KDNYChinook Therapeutics, Inc.COM283,464$130.4K<0.1%00.0%UnchangedHistory
TECXTectonic Therapeutic, Inc.COM134,146$127.5K<0.1%+134,146NewHistory
FHTXFoghorn Therapeutics Inc.COM15,000$105.6K<0.1%+15,000NewHistory
FNCHFinch Therapeutics Group, Inc.COM NEW7,917$67.5K<0.1%00.0%UnchangedConverted for a 1-for-30 splitHistory
Aslan Pharmaceuticals Ltd04522R200SPON ADS NEW164,088$29.8K<0.1%00.0%Unchanged–
MDGLMadrigal Pharmaceuticals, Inc.COM75$17.3K<0.1%00.0%UnchangedHistory
Erytech Pharma29604W108SPONSORED ADR3,019$2.26K<0.1%−245,407−98.8%Reduced–

Options (30)

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 Q2 2023
SecurityClassPutsCalls
ARGXArgenx SESPONSORED ADR$51.5M$14.8M
TGTXTG Therapeutics, Inc.COM$20.5M$20.5M
BMEABiomea Fusion, Inc.COM$6.29M$20.6M
BBIOBridgeBio Pharma, Inc.COM$2.58M$21.2M
CRSPCRISPR Therapeutics AGNAMEN AKT$11.2M$11.2M
AZNAstraZeneca PLCSPONSORED ADR–$17.9M
SRPTSarepta Therapeutics, Inc.COM$14.0M$2.53M
REPLReplimune Group, Inc.COM$8.09M$5.30M
VTYXVentyx Biosciences, Inc.COM$12.3M–
APLSApellis Pharmaceuticals, Inc.COM$12.1M–
PTGXProtagonist Therapeutics, IncCOM$5.84M$5.52M
RETAReata Pharmaceuticals IncCL A–$11.2M
BMRNBiomarin Pharmaceutical IncCOM$8.67M–
ACRSAclaris Therapeutics, Inc.COM$8.26M–
IMVTImmunovant, Inc.COM$1.44M$6.19M
IMGNImmunoGen, Inc.COM–$6.60M
NVAXNovavax IncCOM NEW$2.97M$2.97M
BHVNBiohaven Ltd.COM–$5.38M
LEGNLegend Biotech CorpSPONSORED ADS–$4.75M
INSMINSMED IncCOM PAR $.01–$4.22M
RCUSArcus Biosciences, Inc.COM–$4.06M
STOKStoke Therapeutics, Inc.COM–$2.29M
KYNBKyntra Bio, Inc.COM$1.02M$1.08M
SLRNACELYRIN, Inc.COM–$2.09M
DICEDICE Therapeutics, Inc.COM$2.03M–
QUREuniQure N.V.SHS–$1.77M
TERNTerns Pharmaceuticals, Inc.COM–$1.75M
KRYSKrystal Biotech, Inc.COM$1.21M–
MRSNMersana Therapeutics, Inc.COM–$363.9K
NUVLNuvalent, Inc.COM–$185.5K

Sold out since Q1 2023 (34)

Positions held at the end of Q1 2023 that are gone from this filing.

Positions of Ikarian Capital, LLC sold out since Q1 2023
SecurityClassShares in Q1 2023Value in Q1 2023% of portfolio in Q1 2023History
RXDXPrometheus Biosciences, Inc.COM125,926$13.5M5.6%History
IMVTImmunovant, Inc.COM774,398$12.0M5.0%History
Bellus Health Inc New07987C204COM NEW885,334$6.37M2.6%–
ISEEIVERIC bio, Inc.COM213,521$5.19M2.2%History
BMRNBiomarin Pharmaceutical IncCOM50,000$4.86M2.0%History
JBIOJade Biosciences, Inc.COM195,146$3.94M1.6%History
CLDXCelldex Therapeutics, Inc.COM NEW106,057$3.82M1.6%History
State Street Health Care Select Sector SPDR ETF81369Y209ETF27,469$3.56M1.5%–
ALTAltimmune, Inc.COM NEW677,300$2.86M1.2%History
BTAIQBioXcel Therapeutics, Inc.COM133,014$2.48M1.0%History
VTYXVentyx Biosciences, Inc.COM65,000$2.18M0.9%History
CYTKCytokinetics IncCOM NEW55,666$1.96M0.8%History
AKROAkero Therapeutics, Inc.COM50,000$1.91M0.8%History
MGNXMacrogenics IncCOM250,000$1.79M0.7%History
MORFMorphic Holding, Inc.COM45,873$1.73M0.7%History
ARK ETF Tr00214Q302GENOMIC REV ETF46,462$1.40M0.6%–
MRTXMirati Therapeutics, Inc.COM33,100$1.23M0.5%History
SRPTSarepta Therapeutics, Inc.COM8,324$1.15M0.5%History
ACADAcadia Pharmaceuticals IncCOM60,000$1.13M0.5%History
DCTHDelcath Systems, Inc.COM NEW360,569$1.08M0.4%History
IVAInventiva S.A.ADS292,599$999.2K0.4%History
ACHVAchieve Life Sciences, Inc.COM174,714$989.5K0.4%History
SAGESage Therapeutics, Inc.COM17,805$747.1K0.3%History
VKTXViking Therapeutics, Inc.COM43,156$718.5K0.3%History
AMLXAmylyx Pharmaceuticals, Inc.COM10,000$293.4K0.1%History
BIIBBiogen Inc.COM962$267.5K0.1%History
ARK Innovation ETF00214Q104ETF4,519$182.3K0.1%–
Bellicum Pharmaceuticals, Inc079481404COM NEW448,101$147.9K0.1%–
SPPISpectrum Pharmaceuticals IncCOM176,980$132.7K0.1%History
Genfit S A372279109ADS32,786$131.5K0.1%–
STSASatsuma Pharmaceuticals, Inc.COM136,059$95.0K<0.1%History
Rocket Pharmaceuticals, Inc.77313F114*W EXP 09/02/202367,112$60.0K<0.1%–
Bio Green Med Solution, Inc.23254L603COM275,000$11.0K<0.1%–
GOSSGossamer Bio, Inc.COM6,100$7.69K<0.1%History