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Stonepine Capital Management Portfolio holdings

AUM $250M
1-Year Est. Return 77.6%
This Fund
S&P 500
This Quarter Est. Return
+0.36%
1 Year Est. Return
+77.6%
3 Year Est. Return
+198.76%
5 Year Est. Return
+226.15%
10 Year Est. Return
+1,976.54%
AUM
$250M
AUM Growth
+$113M
Cap. Flow
+$139M
Cap. Flow %
55.71%
Top 10 Hldgs %
70.9%
Holding
100
New
34
Increased
19
Reduced
25
Closed
17

Top Buys

1
TENX icon
Tenax Therapeutics
TENX
+$13M
2
CAMP icon
CAMP4 Therapeutics
CAMP
+$5.51M
3
VSTM icon
Verastem
VSTM
+$3.52M
4
CRIS icon
Curis
CRIS
+$3.41M
5
SLGL icon
Sol-Gel Technologies
SLGL
+$2.01M

Top Sells

1
INDV icon
Indivior Pharmaceuticals
INDV
+$3.59M
2
IKT icon
Inhibikase Therapeutics
IKT
+$2.47M
3
ACAD icon
Acadia Pharmaceuticals
ACAD
+$2.39M
4
ELDN icon
Eledon Pharmaceuticals
ELDN
+$2.02M
5
EDSA icon
Edesa Biotech
EDSA
+$1.97M

Sector Composition

1 Healthcare 45.53%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XBI icon
1
CALL
State Street SPDR S&P Biotech ETF
XBI
$10.4B
$51.1M 20.46%
+400,000
New +$49.9M
XBI icon
2
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.4B
$51.1M 20.46%
+400,000
New +$49.9M
VSTM icon
3
Verastem
VSTM
$530M
$17.5M 7.01%
3,302,300
+570,221
+21% +$3.52M
TENX icon
4
Tenax Therapeutics
TENX
$420M
$15.6M 6.24%
975,200
+963,316
+8,106% +$13M
ADMA icon
5
CALL
ADMA Biologics
ADMA
$2.02B
$10.4M 4.15%
+1,150,000
New +$18.1M
EOLS icon
6
Evolus
EOLS
$377M
$7.23M 2.9%
1,759,091
+127,503
+8% +$618K
ADMA icon
7
ADMA Biologics
ADMA
$2.02B
$6.67M 2.67%
740,000
– –
CAMP icon
8
CAMP4 Therapeutics
CAMP
$193M
$6.13M 2.45%
1,389,622
+1,160,728
+507% +$5.51M
NKTR icon
9
Nektar Therapeutics
NKTR
$2.31B
$6.12M 2.45%
85,000
– –
TERN
10
CALL
DELISTED
Terns Pharmaceuticals
TERN
$5.27M 2.11%
+100,000
New +$4.11M
ZVRA icon
11
Zevra Therapeutics
ZVRA
$755M
$4.47M 1.79%
480,000
-89,088
-16% -$803K
CRBP icon
12
Corbus Pharmaceuticals
CRBP
$167M
$3.6M 1.44%
383,462
-6,454
-2% -$54.3K
ABEO icon
13
Abeona Therapeutics
ABEO
$399M
$3.34M 1.34%
746,587
+37,082
+5% +$185K
ESTA icon
14
CALL
Establishment Labs
ESTA
$2.72B
$2.84M 1.14%
+50,000
New +$3.41M
KZIA
15
Kazia Therapeutics
KZIA
$152M
$2.57M 1.03%
345,179
-115,180
-25% -$802K
ANTX icon
16
AN2 Therapeutics
ANTX
$169M
$2.44M 0.98%
713,845
+86,177
+14% +$178K
ARE icon
17
CALL
Alexandria Real Estate Equities
ARE
$8.75B
$2.32M 0.93%
50,000
– –
ACAD icon
18
CALL
Acadia Pharmaceuticals
ACAD
$4.38B
$2.23M 0.89%
+100,000
New +$2.39M
SLGL icon
19
Sol-Gel Technologies
SLGL
$272M
$2.2M 0.88%
+27,778
New +$2.01M
XOMA
20
DELISTED
Xoma
XOMA
$2.18M 0.87%
69,500
-45,500
-40% -$1.22M
AYTU icon
21
AYTU BioPharma
AYTU
$23.1M
$2.16M 0.87%
792,289
-21,415
-3% -$54.8K
CRIS icon
22
Curis
CRIS
$9.02M
$2.04M 0.82%
186,320
+183,353
+6,180% +$3.41M
EOLS icon
23
CALL
Evolus
EOLS
$377M
$1.73M 0.69%
+420,000
New +$2.04M
XERS icon
24
CALL
Xeris Biopharma Holdings
XERS
$1.52B
$1.62M 0.65%
+280,000
New +$1.86M
TELA icon
25
TELA Bio
TELA
$32.7M
$1.62M 0.65%
2,617,252
+265,220
+11% +$230K
1
2 3 4

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TGP
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ER
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FDDB
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VM
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PF
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CWM
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Stonepine Capital Management's Q1 2026 Portfolio in Review

As of Q1 2026, Stonepine Capital Management held 100 positions worth $250M, up 82% from $137M the previous quarter. Its ten largest holdings account for 71% of the portfolio.

Stonepine Capital Management deployed $139M of net new capital in Q1 2026, opening 34 new positions and adding to 19 existing holdings. Its largest new stake was Sol-Gel Technologies: 27,778 shares worth $2.2M.

By sector, the portfolio is most concentrated in Healthcare at 46% of assets, down from 92% a quarter earlier.

On the sell side, the largest reduction was Inhibikase Therapeutics, an estimated $2.47M trimmed.

  • Stonepine Capital Management's largest Q1 2026 buy was Sol-Gel Technologies: 27,778 shares worth $2.2M.
  • Stonepine Capital Management added most to Tenax Therapeutics in Q1 2026, an estimated $13M increase.
  • Stonepine Capital Management's biggest Q1 2026 reduction was Inhibikase Therapeutics, cutting an estimated $2.47M.
  • Stonepine Capital Management fully exited Indivior Pharmaceuticals in Q1 2026, selling an estimated $3.59M.
  • Stonepine Capital Management's ten largest holdings make up 71% of its $250M portfolio in Q1 2026.
  • Stonepine Capital Management opened 34 new positions and closed 17 in Q1 2026.
  • Stonepine Capital Management's portfolio value rose 82% quarter-over-quarter to $250M.

Based on Stonepine Capital Management's 13F filing for Q1 2026, filed 14 May 2026.