Q4 2025 · 13F-HR
Lion Point Capital, LPholdings as filed
Filed 2026-02-17 · accession 0001013594-26-000252
$19.3M
Reported value
39
Positions
2025-12-31
Period end
The Brief · Lion Point Capital, LP · Q4 2025
AI · grounded in 13F
Lion Point Capital, LP closed its position in AVADEL PHARMACEUTICALS PLC, reducing exposure by $911,619. The fund also exited positions in KINIKSA PHARMACEUTICALS INTL and INSM, both totaling approximately $900,000 in reductions. On the buy side, the fund established new positions in CUE BIOPHARMA INC for $672,752 and SRPT for $613,320. Overall, the fund added 21 positions and reduced 13.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 59935V107 | MIST | MILESTONE PHARMACEUTICALS IN | $1.5M | 7.89% | 755,000 | Common | SOLE |
| 74006W207 | PRAX | PRAXIS PRECISION MEDICINES I | $1.3M | 6.79% | 4,450 | Common | SOLE |
| 61559X104 | MLTX | MOONLAKE IMMUNOTHERAPEUTICS | $889,650 | 4.60% | 67,500 | Common | SOLE |
| 31447P100 | FENC | FENNEC PHARMACEUTICALS INC | $865,742 | 4.48% | 112,434 | Common | SOLE |
| 471871202 | JSPR | JASPER THERAPEUTICS INC | $850,950 | 4.40% | 465,000 | Common | SOLE |
| 08205P209 | BNTC | BENITEC BIOPHARMA INC | $835,140 | 4.32% | 62,000 | Common | SOLE |
| G7709Q104 | RPRX | ROYALTY PHARMA PLC | $826,896 | 4.28% | 21,400 | Common | SOLE |
| 374163103 | GERN | GERON CORP | $762,960 | 3.95% | 578,000 | Common | SOLE |
| 87164F105 | SNDX | SYNDAX PHARMACEUTICALS INC | $756,360 | 3.91% | 36,000 | Common | SOLE |
| 039697107 | ARDX | ARDELYX INC | $750,030 | 3.88% | 128,650 | Common | SOLE |
| 22978P106 | CUE1EUR | CUE BIOPHARMA INC | $672,752 | 3.48% | 2,202,854 | Common | SOLE |
| 254604101 | IRON | DISC MEDICINE INC | $643,221 | 3.33% | 8,100 | Common | SOLE |
| 803607100 | SRPT | SAREPTA THERAPEUTICS INC | $613,320 | 3.17% | 28,500 | Common | SOLE |
| G1110E107 | BHVN | BIOHAVEN LTD | $583,693 | 3.02% | 51,700 | Common | SOLE |
| 44486Q103 | HUMA | HUMACYTE INC | $480,250 | 2.49% | 500,000 | Common | SOLE |
| 50127T109 | KURA | KURA ONCOLOGY INC | $477,940 | 2.47% | 46,000 | Common | SOLE |
| 81750R201 | MCRB | SERES THERAPEUTICS INC | $469,762 | 2.43% | 31,570 | Common | SOLE |
| 20451W101 | CMPS | COMPASS PATHWAYS PLC | $400,200 | 2.07% | 58,000 | Common | SOLE |
| 23954D109 | DAWNGBX | DAY ONE BIOPHARMACEUTICALS I | $391,440 | 2.03% | 42,000 | Common | SOLE |
| 75901B107 | RGNX | REGENXBIO INC | $383,040 | 1.98% | 26,600 | Common | SOLE |
| 10806X102 | BBIO | BRIDGEBIO PHARMA INC | $382,450 | 1.98% | 5,000 | Common | SOLE |
| 603170101 | MLYS | MINERALYS THERAPEUTICS INC | $381,045 | 1.97% | 10,500 | Common | SOLE |
| 92332V107 | VTYXUSD | VENTYX BIOSCIENCES INC | $374,745 | 1.94% | 41,500 | Common | SOLE |
| 516544103 | LNTH | LANTHEUS HLDGS INC | $366,025 | 1.89% | 5,500 | Common | SOLE |
| 26818M108 | DYN | DYNE THERAPEUTICS INC | $352,080 | 1.82% | 18,000 | Common | SOLE |
| N90064101 | QURE | UNIQURE NV | $351,771 | 1.82% | 14,700 | Common | SOLE |
| 695127100 | PCRX | PACIRA PHARMACEUTICALS INC | $349,380 | 1.81% | 13,500 | Common | SOLE |
| 92556V106 | VTRS | VIATRIS INC | $344,865 | 1.78% | 27,700 | Common | SOLE |
| 114340102 | AZTA | AZENTA INC | $322,622 | 1.67% | 9,700 | Common | SOLE |
| 77313F106 | RCKT | ROCKET PHARMACEUTICALS INC | $301,860 | 1.56% | 86,000 | Common | SOLE |
| 47103J105 | JANX | JANUX THERAPEUTICS INC | $262,200 | 1.36% | 19,000 | Common | SOLE |
| 28036F105 | EWTX | EDGEWISE THERAPEUTICS INC | $225,817 | 1.17% | 9,100 | Common | SOLE |
| 45781M101 | INVA | INNOVIVA INC | $163,918 | 0.85% | 8,200 | Common | SOLE |
| 03969K108 | ARQT | ARCUTIS BIOTHERAPEUTICS INC | $152,460 | 0.79% | 5,250 | Common | SOLE |
| 45781K204 | IPHA | INNATE PHARMA S A | $142,014 | 0.73% | 81,151 | Common | SOLE |
| 603380205 | NERV | MINERVA NEUROSCIENCES INC | $140,700 | 0.73% | 35,000 | Common | SOLE |
| G3855L106 | GHRS | GH RESEARCH PLC | $129,540 | 0.67% | 10,200 | Common | SOLE |
| 85209E208 | SPRB | SPRUCE BIOSCIENCES INC | $87,110 | 0.45% | 1,000 | Common | SOLE |
| 59045L205 | MRSN | MERSANA THERAPEUTICS INC | $2,893 | 0.01% | 100 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.