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Stonepine Capital Management Portfolio holdings
AUM
$177M
Turnover
41.12%
1-Year Est. Return
91.13%
This Fund
S&P 500
This Quarter Est. Return
+16.86%
1 Year Est. Return
+91.13%
3 Year Est. Return
+230.7%
5 Year Est. Return
+260.67%
10 Year Est. Return
+2,169.5%
AUM
$177M
AUM Growth
-$72.5M
(-29%)
Cap. Flow
+$12.6M
Cap. Flow % of AUM
Cap. Flow %
7.11%
Top 10 Holdings %
Top 10 Hldgs %
44.39%
Holding
107
New
24
Increased
24
Reduced
27
Closed
20
Avg Time Held
Equity + Options
0.6
years
Top 10 Avg Time Held
Equity + Options
0.7
years
Top 20 Avg Time Held
Equity + Options
0.6
years
Avg Time Held Equity only
0.7
years
Top 10 Avg Time Held Equity only
0.8
years
Top 20 Avg Time Held Equity only
0.8
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Eloxx Pharmaceuticals
ELOX
|
+$5.07M |
| 2 |
Edesa Biotech
EDSA
|
+$3.85M |
| 3 |
Indivior Pharmaceuticals
INDV
|
+$3.63M |
| 4 |
Cabaletta Bio
CABA
|
+$2.85M |
| 5 |
Satellos Bioscience
MSLE
|
+$2.69M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tenax Therapeutics
TENX
|
+$4.03M |
| 2 |
Zevra Therapeutics
ZVRA
|
+$2.46M |
| 3 |
Xoma
XOMA
|
+$2.18M |
| 4 |
Abeona Therapeutics
ABEO
|
+$1.04M |
| 5 |
Inhibikase Therapeutics
IKT
|
+$1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 74.11% |
| 2 | Miscellaneous | 25.89% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
Adicet Bio
ACET
$37.4M
| $2.12M | 1.2% |
245,518
+23,563
| +11% | +$186K |
2025 Q4
2 quarters
|
|
27
CALL
Xeris Biopharma Holdings
XERS
$1.86B
| $2.1M | 1.18% |
280,000
| – | – |
2026 Q1
1 quarter
|
|
28
TELA Bio
TELA
$43.6M
| $2M | 1.13% |
2,662,427
+45,175
| +2% | +$37K |
2023 Q2
12 quarters
|
|
29
AYTU BioPharma
AYTU
$20.6M
| $1.96M | 1.11% |
912,921
+120,632
| +15% | +$285K |
2023 Q2
12 quarters
|
|
30
Curis
CRIS
$937K
| $1.73M | 0.98% |
165,609
-20,711
| -11% | -$212K |
2025 Q4
2 quarters
|
|
31
Spruce Biosciences
SPRB
$130M
| $1.55M | 0.88% |
+28,795
| New | +$1.61M |
2026 Q2
0 quarters
|
|
32
CALL
Heron Therapeutics
HRTX
$57.5M
| $1.5M | 0.85% |
1,000,000
| – | – |
2026 Q1
1 quarter
|
|
33
CALL
SI-BONE Inc
SIBN
$963M
| $1.5M | 0.85% |
100,000
| – | – |
2026 Q1
1 quarter
|
|
34
OKYO Pharma
OKYO
$73.5M
| $1.29M | 0.73% |
862,996
+12,996
| +2% | +$20.8K |
2026 Q1
1 quarter
|
|
35
CALL
Neumora Therapeutics
NMRA
$71.3M
| $1.25M | 0.71% |
500,000
| – | – |
2026 Q1
1 quarter
|
|
36
Pasithea Therapeutics
KTTA
$13.5M
| $1.13M | 0.64% |
2,201,468
+1,370,167
| +165% | +$943K |
2025 Q4
2 quarters
|
|
37
Sol-Gel Technologies
SLGL
$227M
| $1.07M | 0.61% |
14,469
-13,309
| -48% | -$977K |
2026 Q1
1 quarter
|
|
38
Pulmonx
LUNG
$78.6M
| $1.06M | 0.6% |
815,436
+47,148
| +6% | +$65K |
2025 Q2
4 quarters
|
|
39
X4 Pharmaceuticals
XFOR
$321M
| $1.05M | 0.59% |
224,989
-110,320
| -33% | -$453K |
2025 Q3
3 quarters
|
|
40
CALL
Ardelyx
ARDX
$795M
| $1.05M | 0.59% |
150,000
| – | – |
2026 Q1
1 quarter
|
|
41
CALL
Delcath Systems
DCTH
$500M
| $1M | 0.56% |
100,000
| – | – |
2026 Q1
1 quarter
|
|
42
IN8bio
INAB
$10.4M
| $980K | 0.55% |
695,287
+31,875
| +5% | +$48K |
2025 Q2
4 quarters
|
|
43
MoonLake Immunotherapeutics
MLTX
$1.01B
| $974K | 0.55% |
+50,000
| New | +$906K |
2026 Q2
0 quarters
|
|
44
Quoin Pharmaceuticals
QNRX
$19.3M
| $966K | 0.54% |
199,486
+146,026
| +273% | +$788K |
2025 Q4
2 quarters
|
|
45
MaxCyte
MXCT
$144M
| $924K | 0.52% |
751,606
-253,067
| -25% | -$252K |
2025 Q3
3 quarters
|
|
46
Phathom Pharmaceuticals
PHAT
$464M
| $922K | 0.52% |
85,010
+35,000
| +70% | +$399K |
2026 Q1
1 quarter
|
|
47
Azitra
AZTR
| $887K | 0.5% |
+5,285,476
| New | +$1.14M |
2026 Q2
0 quarters
|
|
48
Connect Biopharma Holdings
CNTB
$48.3M
| $867K | 0.49% |
364,254
+54,254
| +18% | +$132K |
2026 Q1
1 quarter
|
|
|
HELP
49
Helus Pharma Inc. Common Stock
HELP
$745M
| $855K | 0.48% |
129,280
-4,780
| -4% | -$23.9K |
2025 Q4
2 quarters
|
|
50
Ultragenyx Pharmaceutical
RARE
$1.54B
| $835K | 0.47% |
+25,000
| New | +$621K |
2026 Q2
0 quarters
|
|
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Stonepine Capital Management's Q2 2026 Portfolio in Review
As of Q2 2026, Stonepine Capital Management held 107 positions worth $177M, down 29% from $250M the previous quarter. Its ten largest holdings account for 44% of the portfolio.
Stonepine Capital Management deployed $12.6M of net new capital in Q2 2026, opening 24 new positions and adding to 24 existing holdings. Its largest new stake was Eloxx Pharmaceuticals: 397,160 shares worth $5.51M.
By sector, the portfolio is most concentrated in Healthcare at 74% of assets, up from 46% a quarter earlier, followed by Miscellaneous.
On the sell side, the largest reduction was Tenax Therapeutics, an estimated $4.03M trimmed.
- Stonepine Capital Management's largest Q2 2026 buy was Eloxx Pharmaceuticals: 397,160 shares worth $5.51M.
- Stonepine Capital Management added most to Edesa Biotech in Q2 2026, an estimated $3.85M increase.
- Stonepine Capital Management's biggest Q2 2026 reduction was Tenax Therapeutics, cutting an estimated $4.03M.
- Stonepine Capital Management fully exited Xoma in Q2 2026, selling an estimated $2.18M.
- Stonepine Capital Management's ten largest holdings make up 44% of its $177M portfolio in Q2 2026.
- Stonepine Capital Management opened 24 new positions and closed 20 in Q2 2026.
- Stonepine Capital Management's portfolio value fell 29% quarter-over-quarter to $177M.
Based on Stonepine Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.