Q2 2025 · 13F-HR
Decheng Capital LLCholdings as filed
Filed 2025-08-13 · accession 0001104659-25-077492
$396.0M
Reported value
25
Positions
2025-06-30
Period end
The Brief · Decheng Capital LLC · Q2 2025
AI · grounded in 13F
Decheng Capital LLC established a new position in CGON valued at $165.66M. The fund also initiated new stakes in AARD for $52.96M and NUVB for $50.61M. Additional new positions include UPB, NAMS, and BYSI. The fund ended the period with 25 positions and total AUM of $395.97M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 156944100 | CGON | CG ONCOLOGY INC | $165.7M | 41.8% | 6,371,669 | Common | SOLE |
| 002942100 | AARD | AARDVARK THERAPEUTICS INC | $53.0M | 13.4% | 3,917,299 | Common | SOLE |
| 67080N101 | NUVB | Nuvation Bio Inc. | $50.6M | 12.8% | 25,954,439 | Common | SOLE |
| 91678A107 | UPB | Upstream Bio Inc. | $36.1M | 9.11% | 3,285,293 | Common | SOLE |
| N62509109 | NAMS | NEWAMSTERDAM PHARMA CO NV | $13.9M | 3.52% | 770,000 | Common | SOLE |
| G10830100 | BYSI | BeyondSpring Inc. | $10.6M | 2.69% | 4,531,481 | Common | SOLE |
| N5749R100 | 2GH | MERUS NV | $9.9M | 2.51% | 189,098 | Common | SOLE |
| 501147102 | KRYS | KRYSTAL BIOTECH INC | $9.1M | 2.29% | 66,000 | Common | SOLE |
| G4444C102 | — | MOONLAKE IMMUNOTHERAPEUTICS | $8.6M | 2.16% | 181,600 | Common | SOLE |
| 76155X100 | RVMD | REVOLUTION MEDICINES INC(NSM) | $8.3M | 2.10% | 226,000 | Common | SOLE |
| 00461U105 | ACRS | Aclaris Therapeutics, Inc. | $5.7M | 1.45% | 4,041,736 | Common | SOLE |
| 55083R104 | LYEL | Lyell Immunopharma, Inc. | $5.3M | 1.33% | 595,466 | Common | SOLE |
| 03940C100 | ACLXGBX | ARCELLX INC | $4.5M | 1.13% | 547,609 | Common | SOLE |
| 22663K107 | CRNX | CRINETICS PHARMACEUTICALS IN | $4.1M | 1.04% | 143,000 | Common | SOLE |
| 05153U107 | AURA | Aura Biosciences, Inc. | $3.2M | 0.82% | 515,555 | Common | SOLE |
| 98943L107 | ZNTL | Zentalis Pharmaceuticals Inc. | $1.5M | 0.39% | 1,323,327 | Common | SOLE |
| 29446K106 | EQ | Equillium Inc. | $1.4M | 0.35% | 4,447,308 | Common | SOLE |
| 35104E100 | FDMT | 4D MOLECULAR THERAPEUTICS IN | $888,582 | 0.22% | 239,510 | Common | SOLE |
| 03969F109 | RCUS | Arcus Biosciences, Inc | $811,200 | 0.20% | 160,000 | Common | SOLE |
| 452327109 | ILMN | Illumnia, Inc. | $761,276 | 0.19% | 7,979 | Common | SOLE |
| 52490G102 | LEGN | LEGEND BIOTECH CORP-ADR | $709,800 | 0.18% | 20,000 | Common | SOLE |
| 384747101 | GRAL | GRAIL INC | $497,951 | 0.13% | 9,684 | Common | SOLE |
| 747324101 | PYXS | Pyxis Oncology, Inc (formerly Apexigen) | $359,491 | 0.09% | 326,810 | Common | SOLE |
| 76200L309 | RZLT | REZOLUTE INC | $267,154 | 0.07% | 59,900 | Common | SOLE |
| 67080N119 | NUVB/WS | Nuvation Bio Inc. | $127,347 | 0.03% | 646,057 | 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.