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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
INAB icon
51
IN8bio
INAB
$9.88M
$386K 0.28%
164,893
+5,472
+3% +$10.4K
FENC icon
52
Fennec Pharmaceuticals
FENC
$332M
$385K 0.28%
+50,000
New +$410K
CABA icon
53
Cabaletta Bio
CABA
$437M
$375K 0.27%
+171,100
New +$424K
KTTA icon
54
Pasithea Therapeutics
KTTA
$15.4M
$355K 0.26%
+275,062
New +$242K
PLRX icon
55
Pliant Therapeutics
PLRX
$64.4M
$281K 0.2%
230,050
-59,187
-20% -$88.9K
JANX icon
56
Janux Therapeutics
JANX
$925M
$276K 0.2%
+20,000
New +$470K
DCTH icon
57
Delcath Systems
DCTH
$422M
$275K 0.2%
+27,232
New +$271K
KPRX icon
58
Kiora Pharmaceuticals
KPRX
$11.3M
$258K 0.19%
131,144
-9,454
-7% -$21.6K
CNSP icon
59
CNS Pharmaceuticals
CNSP
$8.51M
$256K 0.19%
+48,827
New +$366K
TNYA icon
60
Tenaya Therapeutics
TNYA
$161M
$250K 0.18%
+352,001
New +$479K
OVID icon
61
Ovid Therapeutics
OVID
$414M
$167K 0.12%
+102,367
New +$158K
TENX icon
62
Tenax Therapeutics
TENX
$363M
$145K 0.11%
+11,884
New +$103K
EVAX
63
Evaxion A/S
EVAX
$23.5M
$95.4K 0.07%
+20,000
New +$117K
XLO icon
64
Xilio Therapeutics
XLO
$59.9M
$80.8K 0.06%
+9,019
New +$94.7K
CRIS icon
65
Curis
CRIS
$9.78M
$58.6K 0.04%
+2,967
New +$79.7K
PCSA icon
66
Processa Pharmaceuticals
PCSA
$5.95M
$35.5K 0.03%
12,323
-28,885
-70% -$202K
ABVX
67
Abivax
ABVX
$10.9B
– –
-2,500
Closed -$212K
ACRS icon
68
Aclaris Therapeutics
ACRS
$726M
– –
-192,900
Closed -$367K
ANGO icon
69
AngioDynamics
ANGO
$611M
– –
-60,000
Closed -$670K
AQST icon
70
Aquestive Therapeutics
AQST
$463M
– –
-100,600
Closed -$562K
ARDX icon
71
Ardelyx
ARDX
$1.22B
– –
-200,000
Closed -$1.1M
CMMB
72
Chemomab Therapeutics
CMMB
$11.4M
– –
-30,000
Closed -$78.9K
CTMX icon
73
CytomX Therapeutics
CTMX
$675M
– –
-125,000
Closed -$399K
DVAX
74
DELISTED
Dynavax Technologies
DVAX
– –
-108,094
Closed -$1.07M
ESTA icon
75
Establishment Labs
ESTA
$2.72B
– –
-10,585
Closed -$434K
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.