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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
+8.59%
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
$102M
AUM Growth
-$835K
Cap. Flow
-$2.14M
Cap. Flow %
-2.1%
Top 10 Hldgs %
58.99%
Holding
87
New
21
Increased
24
Reduced
14
Closed
28

Top Buys

Rank Stock Value
1
VSTM icon
Verastem
VSTM
+$4.68M
2
ACAD icon
Acadia Pharmaceuticals
ACAD
+$2.45M
3
ARDX icon
Ardelyx
ARDX
+$2.29M
4
ALMS
Alumis Inc
ALMS
+$1.65M
5
ITOS
iTeos Therapeutics
ITOS
+$1.61M

Top Sells

Rank Stock Value
1
OPTN
OptiNose
OPTN
+$7.23M
2
URGN icon
UroGen Pharma
URGN
+$3.69M
3
AQST icon
Aquestive Therapeutics
AQST
+$3.04M
4
LKFT
Lakefront Biotherapeutics American Depositary Shares
LKFT
+$2.36M
5
ESTA icon
Establishment Labs
ESTA
+$2.35M

Sector Composition

Rank Sector Weight
1 Healthcare 99.59%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ADMA icon
1
ADMA Biologics
ADMA
$2.04B
$13.7M 13.4%
750,000
-60,000
-7% -$1.22M
EOLS icon
2
Evolus
EOLS
$371M
$8.44M 8.28%
916,500
-218,074
-19% -$2.23M
ZVRA icon
3
Zevra Therapeutics
ZVRA
$754M
$6.83M 6.7%
775,620
+125,620
+19% +$1.02M
VSTM icon
4
Verastem
VSTM
$507M
$5.65M 5.54%
1,360,386
+747,386
+122% +$4.68M
INDV icon
5
Indivior Pharmaceuticals
INDV
$4.8B
$5.16M 5.06%
350,000
+46,000
+15% +$536K
ACAD icon
6
Acadia Pharmaceuticals
ACAD
$4.39B
$4.85M 4.76%
225,000
+131,607
+141% +$2.45M
ENTA icon
7
Enanta Pharmaceuticals
ENTA
$384M
$4.57M 4.48%
604,066
+13,324
+2% +$80.1K
TELA icon
8
TELA Bio
TELA
$33.6M
$4.04M 3.97%
2,083,762
+28,537
+1% +$37.4K
XOMA
9
DELISTED
Xoma
XOMA
$3.83M 3.76%
152,143
+22,330
+17% +$535K
ITOS
10
DELISTED
iTeos Therapeutics
ITOS
$3.09M 3.03%
310,033
+200,033
+182% +$1.61M
DAWN
11
DELISTED
Day One Biopharmaceuticals
DAWN
$2.92M 2.87%
450,000
+101,180
+29% +$696K
SRZN icon
12
Surrozen
SRZN
$241M
$2.74M 2.68%
306,029
+20,247
+7% +$185K
ANIP icon
13
ANI Pharmaceuticals
ANIP
$1.86B
$2.52M 2.47%
38,597
-9,403
-20% -$612K
ARDX icon
14
Ardelyx
ARDX
$1.27B
$2.18M 2.13%
+555,000
New +$2.29M
ANIK icon
15
Anika Therapeutics
ANIK
$210M
$2.02M 1.98%
190,590
-16,049
-8% -$203K
AYTU icon
16
AYTU BioPharma
AYTU
$23.2M
$1.77M 1.74%
812,676
+348,955
+75% +$542K
IKT icon
17
Inhibikase Therapeutics
IKT
$316M
$1.43M 1.4%
733,793
-181,180
-20% -$355K
GERN icon
18
Geron
GERN
$911M
$1.41M 1.38%
1,000,000
+500,000
+100% +$709K
HRTX icon
19
Heron Therapeutics
HRTX
$90.1M
$1.36M 1.34%
657,380
-138,720
-17% -$283K
NKTR icon
20
Nektar Therapeutics
NKTR
$2.27B
$1.3M 1.27%
+50,200
New +$564K
YMAB
21
DELISTED
Y-mAbs Therapeutics
YMAB
$1.29M 1.26%
285,300
+154,140
+118% +$693K
COLL icon
22
Collegium Pharmaceutical
COLL
$1.18B
$1.23M 1.2%
41,500
+20,893
+101% +$596K
VNDA icon
23
Vanda Pharmaceuticals
VNDA
$328M
$1.18M 1.16%
250,000
+214,852
+611% +$939K
KALV
24
DELISTED
KalVista Pharmaceuticals
KALV
$1.13M 1.11%
100,000
+78,450
+364% +$959K
ALMS
25
Alumis Inc
ALMS
$3.47B
$1.05M 1.03%
+349,615
New +$1.65M
1
2 3 4

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Stonepine Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Stonepine Capital Management held 87 positions worth $102M, down 0.81% from $103M the previous quarter. Its ten largest holdings account for 59% of the portfolio.

Stonepine Capital Management's Q2 2025 filing shows 21 new, 24 increased, 14 reduced and 28 closed positions. Its largest new stake was Ardelyx: 555,000 shares worth $2.18M. The largest sale was OptiNose, an estimated $7.23M.

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

  • Stonepine Capital Management's largest Q2 2025 buy was Ardelyx: 555,000 shares worth $2.18M.
  • Stonepine Capital Management added most to Verastem in Q2 2025, an estimated $4.68M increase.
  • Stonepine Capital Management's biggest Q2 2025 reduction was Establishment Labs, cutting an estimated $2.35M.
  • Stonepine Capital Management fully exited OptiNose in Q2 2025, selling an estimated $7.23M.
  • Stonepine Capital Management's ten largest holdings make up 59% of its $102M portfolio in Q2 2025.
  • Stonepine Capital Management opened 21 new positions and closed 28 in Q2 2025.
  • Stonepine Capital Management's portfolio value fell 0.81% quarter-over-quarter to $102M.

Based on Stonepine Capital Management's 13F filing for Q2 2025, filed 13 Aug 2025.