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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
+20.81%
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
$137M
AUM Growth
+$14M
Cap. Flow
+$285M
Cap. Flow %
208.33%
Top 10 Hldgs %
53.02%
Holding
89
New
31
Increased
13
Reduced
18
Closed
23

Top Buys

Rank Stock Value
1
RADX
Radiopharm Theranostics
RADX
+$272M
2
CRBP icon
Corbus Pharmaceuticals
CRBP
+$4.81M
3
KZIA
Kazia Therapeutics
KZIA
+$3.92M
4
IKT icon
Inhibikase Therapeutics
IKT
+$2.57M
5
ACET icon
Adicet Bio
ACET
+$2.43M

Top Sells

Rank Stock Value
1
DAWN
Day One Biopharmaceuticals
DAWN
+$3.74M
2
ENTA icon
Enanta Pharmaceuticals
ENTA
+$2.6M
3
OABI icon
OmniAb
OABI
+$2.51M
4
ZVRA icon
Zevra Therapeutics
ZVRA
+$2.28M
5
SRZN icon
Surrozen
SRZN
+$2.21M

Sector Composition

Rank Sector Weight
1 Healthcare 92.31%
2 Financials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HRTX icon
26
Heron Therapeutics
HRTX
$92.9M
$1.61M 1.17%
1,237,802
+387,702
+46% +$479K
ENTA icon
27
Enanta Pharmaceuticals
ENTA
$366M
$1.58M 1.15%
100,000
-205,000
-67% -$2.6M
PMVP icon
28
PMV Pharmaceuticals
PMVP
$59.2M
$1.44M 1.05%
1,150,759
-219,380
-16% -$294K
CAMP icon
29
CAMP4 Therapeutics
CAMP
$180M
$1.4M 1.02%
+228,894
New +$974K
ELDN icon
30
Eledon Pharmaceuticals
ELDN
$260M
$1.35M 0.98%
+893,100
New +$2.12M
MIST icon
31
Milestone Pharmaceuticals
MIST
$137M
$1.34M 0.98%
+662,666
New +$1.43M
OABI icon
32
OmniAb
OABI
$288M
$1.3M 0.95%
701,000
-1,441,857
-67% -$2.51M
QNRX
33
Quoin Pharmaceuticals
QNRX
$8.74M
$1.13M 0.82%
+78,189
New +$1.06M
LUNG icon
34
Pulmonx
LUNG
$69.7M
$1.07M 0.78%
486,400
-183,600
-27% -$345K
GERN icon
35
Geron
GERN
$815M
$1.06M 0.78%
805,800
-794,200
-50% -$996K
ABEO icon
36
CALL
Abeona Therapeutics
ABEO
$363M
$1.05M 0.77%
+200,000
New +$1.01M
CBIO
37
Crescent Biopharma
CBIO
$532M
$1.04M 0.76%
+87,682
New +$1.12M
KZR
38
DELISTED
Kezar Life Sciences
KZR
$982K 0.72%
156,179
-227,003
-59% -$1.32M
EDSA icon
39
Edesa Biotech
EDSA
$48.7M
$976K 0.71%
687,500
– –
BOLD
40
Boundless Bio
BOLD
$56.6M
$852K 0.62%
710,071
+296,618
+72% +$370K
RADX
41
Radiopharm Theranostics
RADX
$24.6M
$851K 0.62%
+51,000,000
New +$272M
SMLR
42
DELISTED
Semler Scientific
SMLR
$765K 0.56%
+50,000
New +$1.13M
MXCT icon
43
MaxCyte
MXCT
$114M
$727K 0.53%
469,018
+10,000
+2% +$16K
ANTX icon
44
AN2 Therapeutics
ANTX
$193M
$716K 0.52%
627,668
+63,755
+11% +$74.5K
GOSS icon
45
Gossamer Bio
GOSS
$83.5M
$635K 0.46%
204,770
– –
ZNTL icon
46
Zentalis Pharmaceuticals
ZNTL
$341M
$626K 0.46%
463,700
+9,900
+2% +$14.4K
BIOA
47
BioAge Labs
BIOA
$402M
$595K 0.43%
45,000
-143,571
-76% -$1.27M
MNKD icon
48
MannKind Corp
MNKD
$1.2B
$490K 0.36%
86,359
-71,210
-45% -$392K
CGEN icon
49
Compugen
CGEN
$222M
$467K 0.34%
+305,400
New +$507K
CDXS icon
50
Codexis
CDXS
$151M
$417K 0.3%
256,106
+167,842
+190% +$342K
1
2
3 4

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Stonepine Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Stonepine Capital Management held 89 positions worth $137M, up 11% from $123M the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Stonepine Capital Management deployed $285M of net new capital in Q4 2025, opening 31 new positions and adding to 13 existing holdings. Its largest new stake was Radiopharm Theranostics: 51,000,000 shares worth $851K.

By sector, the portfolio is most concentrated in Healthcare at 92% of assets, down from 100% a quarter earlier, followed by Financials.

On the sell side, the largest reduction was Day One Biopharmaceuticals, an estimated $3.74M trimmed.

  • Stonepine Capital Management's largest Q4 2025 buy was Radiopharm Theranostics: 51,000,000 shares worth $851K.
  • Stonepine Capital Management added most to Inhibikase Therapeutics in Q4 2025, an estimated $2.57M increase.
  • Stonepine Capital Management's biggest Q4 2025 reduction was Day One Biopharmaceuticals, cutting an estimated $3.74M.
  • Stonepine Capital Management fully exited Soleno Therapeutics in Q4 2025, selling an estimated $1.62M.
  • Stonepine Capital Management's ten largest holdings make up 53% of its $137M portfolio in Q4 2025.
  • Stonepine Capital Management opened 31 new positions and closed 23 in Q4 2025.
  • Stonepine Capital Management's portfolio value rose 11% quarter-over-quarter to $137M.

Based on Stonepine Capital Management's 13F filing for Q4 2025, filed 13 Feb 2026.