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Livermore
ZHEN

Ikarian Capital, LLC

SEC CIK
0001778253
Latest filing
Aug 14, 2026

Holdings in Q4 2023

Holdings as of Dec 31, 2023, filed Feb 14, 2024. Long positions only; changes compare share counts with Q3 2023.

Institution overview
Positions
78
−3 vs. Q3 2023
Portfolio value
$365.6M
+$96.2M (+35.7%) vs. Q3 2023
Filed
Feb 14, 2024
SEC
Holdings of Ikarian Capital, LLC in Q4 2023
SecurityClassSharesValue% of portfolioShare changeActionHistory
ARGXArgenx SESPONSORED ADR70,000$26.5M7.3%+70,000NewHistory
CRNXCrinetics Pharmaceuticals, Inc.COM680,370$24.2M6.6%−112,550−14.2%ReducedHistory
SLNOSoleno Therapeutics IncCOM590,243$23.8M6.5%+53,523+10.0%AddedHistory
State Street SPDR S&P Homebuilders ETF78464A888ETF200,000$19.1M5.2%+200,000New–
BBIOBridgeBio Pharma, Inc.COM473,126$19.1M5.2%00.0%UnchangedHistory
NUVLNuvalent, Inc.COM258,142$19.0M5.2%−19,892−7.2%ReducedHistory
SLRNACELYRIN, Inc.COM1,991,005$14.9M4.1%−927,421−31.8%ReducedHistory
AMLXAmylyx Pharmaceuticals, Inc.COM877,500$12.9M3.5%+877,500NewHistory
SRPTSarepta Therapeutics, Inc.COM132,640$12.8M3.5%+132,640NewHistory
ANNXAnnexon, Inc.COM2,650,000$12.0M3.3%+2,650,000NewHistory
IRONDisc Medicine, Inc.COM194,982$11.3M3.1%+52,216+36.6%AddedHistory
TARSTarsus Pharmaceuticals, Inc.COM518,519$10.5M2.9%00.0%UnchangedHistory
IMVTImmunovant, Inc.COM233,394$9.83M2.7%−64,400−21.6%ReducedHistory
ALPNAlpine Immune Sciences, Inc.COM487,248$9.29M2.5%+487,248NewHistory
EYPTEyePoint, Inc.COM NEW368,130$8.51M2.3%+368,130NewHistory
CPRXCatalyst Pharmaceuticals, Inc.COM505,862$8.50M2.3%00.0%UnchangedHistory
MRNSMarinus Pharmaceuticals, Inc.COM NEW746,069$8.11M2.2%00.0%UnchangedHistory
PTGXProtagonist Therapeutics, IncCOM319,000$7.31M2.0%+319,000NewHistory
RCKTRocket Pharmaceuticals, Inc.COM239,726$7.18M2.0%−415,000−63.4%ReducedHistory
ICVXIcosavax, Inc.COM440,000$6.93M1.9%+440,000NewHistory
LYRALyra Therapeutics, Inc.COM1,254,384$6.57M1.8%00.0%UnchangedHistory
LBPHLongboard Pharmaceuticals, Inc.COM979,462$5.91M1.6%+465,361+90.5%AddedHistory
CABACabaletta Bio, Inc.COM216,620$4.92M1.3%+216,620NewHistory
FUSNFusion Pharmaceuticals Inc.COM500,000$4.81M1.3%+500,000NewHistory
PRAXPraxis Precision Medicines, Inc.COM NEW200,000$4.46M1.2%+50,000+33.3%AddedConverted for a 1-for-15 splitHistory
CRSPCRISPR Therapeutics AGNAMEN AKT70,546$4.42M1.2%+40,000+131.0%AddedHistory
DYNDyne Therapeutics, Inc.COM285,900$3.80M1.0%+285,900NewHistory
ITOSiTeos Therapeutics, Inc.COM346,471$3.79M1.0%00.0%UnchangedHistory
ABEOAbeona Therapeutics Inc.COM NEW600,000$3.01M0.8%+600,000NewHistory
EWTXEdgewise Therapeutics, Inc.COM270,000$2.95M0.8%+270,000NewHistory
ATXSAstria Therapeutics, Inc.COM374,807$2.88M0.8%00.0%UnchangedHistory
LRMRLarimar Therapeutics, Inc.COM602,868$2.74M0.8%−80,000−11.7%ReducedHistory
IMGNImmunoGen, Inc.COM90,162$2.67M0.7%−300,000−76.9%ReducedHistory
VYGRVoyager Therapeutics, Inc.COM305,857$2.58M0.7%00.0%UnchangedHistory
CYTKCytokinetics IncCOM NEW30,000$2.50M0.7%+30,000NewHistory
MRNAModerna, Inc.Stock24,546$2.44M0.7%+24,546NewHistory
DFTXDefinium Therapeutics, Inc.Stock600,000$2.20M0.6%+600,000NewHistory
APLSApellis Pharmaceuticals, Inc.COM34,361$2.06M0.6%+34,361NewHistory
AEONAEON Biopharma, Inc.CL A257,977$1.86M0.5%00.0%UnchangedHistory
NUVBNuvation Bio Inc.COM CL A1,222,852$1.85M0.5%00.0%UnchangedHistory
ROIVRoivant Sciences Ltd.SHS151,821$1.70M0.5%+150,000+8,237.2%AddedHistory
AUTLAutolus Therapeutics plcSPON ADS262,694$1.69M0.5%00.0%UnchangedHistory
BDTXBlack Diamond Therapeutics, Inc.COM555,572$1.56M0.4%00.0%UnchangedHistory
KODKodiak Sciences Inc.COM412,881$1.26M0.3%+100,000+32.0%AddedHistory
ABOSAcumen Pharmaceuticals, Inc.COM315,265$1.21M0.3%00.0%UnchangedHistory
CRBPCorbus Pharmaceuticals Holdings, Inc.COM NEW195,899$1.18M0.3%00.0%UnchangedHistory
CHRSCoherus Oncology, Inc.COM340,787$1.13M0.3%−525,000−60.6%ReducedHistory
IFRXInflaRx N.V.COM688,604$1.12M0.3%00.0%UnchangedHistory
TERNTerns Pharmaceuticals, Inc.COM165,480$1.07M0.3%00.0%UnchangedHistory
QUREuniQure N.V.SHS157,365$1.07M0.3%00.0%UnchangedHistory
ESPREsperion Therapeutics, Inc.COM337,636$1.01M0.3%−1,400,000−80.6%ReducedHistory
TECXTectonic Therapeutic, Inc.COM718,259$976.8K0.3%00.0%UnchangedHistory
PRQRProQR Therapeutics N.V.SHS EURO472,625$935.8K0.3%00.0%UnchangedHistory
LNTHLantheus Holdings, Inc.Stock15,000$930.0K0.3%+15,000NewHistory
KZRKezar Life Sciences, Inc.COM853,391$808.5K0.2%00.0%UnchangedHistory
MISTMilestone Pharmaceuticals Inc.COM462,828$772.9K0.2%00.0%UnchangedHistory
OKUROnKure Therapeutics, Inc.COM421,300$674.1K0.2%+421,300NewHistory
TYRATyra Biosciences, Inc.COM48,170$667.2K0.2%00.0%UnchangedHistory
ALLKAllakos Inc.COM237,056$647.2K0.2%−550,000−69.9%ReducedHistory
ELEVElevation Acquisition Group Inc.COM1,171,939$629.3K0.2%00.0%UnchangedHistory
GPCRStructure Therapeutics Inc.SPONSORED ADS14,524$592.0K0.2%−123,300−89.5%ReducedHistory
IMTXImmatics N.V.SHS49,031$516.3K0.1%00.0%UnchangedHistory
TCONTracon Pharmaceuticals, Inc.COM NEW2,765,530$484.2K0.1%00.0%UnchangedHistory
TPSTTempest Therapeutics, Inc.COM105,600$464.6K0.1%+105,600NewHistory
HOOKHOOKIPA Pharma Inc.COM530,776$429.9K0.1%00.0%UnchangedHistory
ANEBAnebulo Pharmaceuticals, Inc.COM157,862$382.0K0.1%00.0%UnchangedHistory
TARAProtara Therapeutics, Inc.COM STK188,664$352.8K0.1%00.0%UnchangedHistory
KPTIKaryopharm Therapeutics Inc.COM400,000$346.0K0.1%00.0%UnchangedHistory
VRNAVerona Pharma plcSPONSORED ADS367,468$257.3K0.1%+48,877+15.3%AddedHistory
RLMDRelmada Therapeutics, Inc.COM40,369$167.1K<0.1%00.0%UnchangedHistory
CMMBChemomab Therapeutics Ltd.SPONSORED ADS213,392$108.8K<0.1%00.0%UnchangedHistory
SYBXSynlogic, Inc.COM NEW20,448$78.7K<0.1%00.0%UnchangedHistory
STOKStoke Therapeutics, Inc.COM12,116$63.7K<0.1%00.0%UnchangedHistory
FNCHFinch Therapeutics Group, Inc.COM NEW6,892$24.9K<0.1%00.0%UnchangedHistory
BCLIBrainstorm Cell Therapeutics Inc.COM NEW90,242$24.6K<0.1%00.0%UnchangedHistory
ACRSAclaris Therapeutics, Inc.COM19,482$20.5K<0.1%+19,482NewHistory
VTYXVentyx Biosciences, Inc.COM5,914$14.6K<0.1%+5,914NewHistory
Aslan Pharmaceuticals Ltd04522R200SPON ADS NEW35,420$6.53K<0.1%00.0%Unchanged–

Options (43)

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 Q4 2023
SecurityClassPutsCalls
KRYSKrystal Biotech, Inc.COM$51.1M$12.4M
ARGXArgenx SESPONSORED ADR$29.7M$29.7M
ALNYAlnylam Pharmaceuticals, Inc.COM$18.9M$32.5M
CYTKCytokinetics IncCOM NEW$292.2K$50.4M
State Street SPDR S&P Biotech ETF78464A870ETF$49.1M–
CRSPCRISPR Therapeutics AGNAMEN AKT$40.7M$244.1K
LLYEli Lilly & CoStock$40.8M–
PRTAProthena Corp Public Ltd CoSHS$15.2M$21.8M
SRPTSarepta Therapeutics, Inc.COM$9.82M$17.6M
ABBVAbbVie Inc.Stock–$20.5M
IMVTImmunovant, Inc.COM$6.94M$12.7M
AMLXAmylyx Pharmaceuticals, Inc.COM–$19.1M
BMEABiomea Fusion, Inc.COM$7.26M$11.3M
KRTXKaruna Therapeutics, Inc.COM–$18.5M
CORTCorcept Therapeutics IncCOM$8.81M$8.81M
LNTHLantheus Holdings, Inc.Stock–$16.7M
EYPTEyePoint, Inc.COM NEW$6.54M$9.04M
IMGNImmunoGen, Inc.COM–$13.5M
MLTXMoonLake ImmunotherapeuticsCLASS A ORD$12.1M–
DYNDyne Therapeutics, Inc.COM$3.33M$8.08M
NUVLNuvalent, Inc.COM$3.56M$7.68M
AMGNAmgen IncStock–$10.1M
AREAlexandria Real Estate Equities, Inc.COM$9.29M–
APLSApellis Pharmaceuticals, Inc.COM–$8.98M
NVAXNovavax IncCOM NEW$4.38M$3.42M
RCUSArcus Biosciences, Inc.COM–$7.64M
XENEXenon Pharmaceuticals Inc.COM$7.10M–
JAZZJazz Pharmaceuticals plcSHS USD–$5.14M
CABACabaletta Bio, Inc.COM$4.54M–
RCKTRocket Pharmaceuticals, Inc.COM–$4.50M
MRNAModerna, Inc.Stock$4.41M–
Morphosys AG617760202SPONSORED ADS–$3.96M
CRNXCrinetics Pharmaceuticals, Inc.COM–$3.56M
SLRNACELYRIN, Inc.COM–$2.51M
OKUROnKure Therapeutics, Inc.COM$692.2K$1.73M
TARSTarsus Pharmaceuticals, Inc.COM–$2.02M
RAPTRAPT Therapeutics, Inc.COM$1.46M–
SLNOSoleno Therapeutics IncCOM–$853.3K
IMUXImmunic, Inc.COM–$675.0K
VERVVerve Therapeutics, Inc.COM$575.7K–
ANVSAnnovis Bio, Inc.COM$63.6K–
CLDXCelldex Therapeutics, Inc.COM NEW$7.93K–
INSMINSMED IncCOM PAR $.01–$6.20K

Sold out since Q3 2023 (26)

Positions held at the end of Q3 2023 that are gone from this filing.

Positions of Ikarian Capital, LLC sold out since Q3 2023
SecurityClassShares in Q3 2023Value in Q3 2023% of portfolio in Q3 2023History
AKROAkero Therapeutics, Inc.COM200,000$10.1M3.8%History
PCVXVaxcyte, Inc.COM142,417$7.26M2.7%History
RAREUltragenyx Pharmaceutical Inc.COM174,945$6.24M2.3%History
IDYAIDEAYA Biosciences, Inc.COM216,949$5.85M2.2%History
RCUSArcus Biosciences, Inc.COM254,876$4.58M1.7%History
SWTXSpringWorks Therapeutics, Inc.COM178,360$4.12M1.5%History
INSMINSMED IncCOM PAR $.01154,900$3.91M1.5%History
BHVNBiohaven Ltd.COM106,138$2.76M1.0%History
MRSNMersana Therapeutics, Inc.COM1,579,770$2.01M0.7%History
BIVIBiovie Inc.CL A NEW457,345$1.56M0.6%History
CBAYCymaBay Therapeutics, Inc.COM104,300$1.56M0.6%History
KALVKalVista Pharmaceuticals, Inc.COM142,692$1.37M0.5%History
VTGNVistagen Therapeutics, Inc.COM229,100$1.20M0.4%History
JSPRJasper Therapeutics, Inc.COM1,125,087$787.6K0.3%History
IMUXImmunic, Inc.COM450,000$661.5K0.2%History
LLYEli Lilly & CoStock1,227$659.1K0.2%History
COGTCogent Biosciences, Inc.COM62,766$612.0K0.2%History
TGTXTG Therapeutics, Inc.COM32,547$272.1K0.1%History
PTCTPTC Therapeutics, Inc.COM10,862$243.4K0.1%History
MREOMereo BioPharma Group plcSPON ADS591,676$191.3K0.1%History
SCPHscPharmaceuticals Inc.COM18,647$132.8K<0.1%History
FHTXFoghorn Therapeutics Inc.COM15,292$76.5K<0.1%History
OCULOcular Therapeutix, IncCOM21,590$67.8K<0.1%History
SNDXSyndax Pharmaceuticals IncCOM4,000$58.1K<0.1%History
KYNBKyntra Bio, Inc.COM2,774$2.39K<0.1%History
Phaxiam Therapeutics S A29604W207SPON ADR NEW301$1.56K<0.1%–