Stonepine Capital Management, LLC

CIK

1440771

Location

BEND, OR

Portfolio Value

Small $171,511,776

Diversification

Diversified

Filing Date

Global Rank

#4,924 / 8,700 ▲ 473

Top Industry

Biotechnology 76.3%

Period ended 2 months ago

Filed Aug 17, 2026 · 27d

26 quarters · since Mar 2020

Portfolio Concentration

83 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

8.1%

−34.2 pts

Top 5

32.9%

−33.9 pts

Top 10

49.3%

−27.4 pts

HHI

347

Diversified−1,637

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Healthcare	100.0%	$171,511,776	83

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

22 positions

Ticker	Company	Δ Shares	Shares	Value
KTTA	Pasithea Therapeutics Corp.	+1,370,167	2,201,468	$1,133,756
CABA	Cabaletta Bio, Inc.	+867,100	917,100	$2,852,181
EDSA	Edesa Biotech, Inc.	+426,439	456,439	$3,710,849
MSLE	Satellos Bioscience Inc.	+391,624	491,624	$3,822,376
XLO	Xilio Therapeutics, Inc.	+161,832	225,994	$2,165,022
QNRX	Quoin Pharmaceuticals Ltd.	+146,026	199,486	$965,512
AYTU	Aytu Biopharma, Inc	+120,632	912,921	$1,962,780
CNTB	Connect Biopharma Holdings Ltd	+54,254	364,254	$866,924
VSTM	Verastem, Inc.	+47,327	3,349,627	$12,795,575
LUNG	Pulmonx Corp	+47,148	815,436	$1,060,066
TELA	TELA Bio, Inc.	+45,175	2,662,427	$1,996,820
CRBP	Corbus Pharmaceuticals Holdings, Inc.	+41,538	425,000	$3,986,500
NKTR	Nektar Therapeutics	+35,654	120,654	$8,422,855
PHAT	Phathom Pharmaceuticals, Inc.	+35,000	85,010	$922,358
ARVN	Arvinas, Inc.	+32,500	60,000	$498,600
IRD	Opus Genetics, Inc.	+32,030	100,718	$413,950
INAB	In8bio, Inc.	+31,875	695,287	$980,354
ACET	Adicet Bio, Inc.	+23,563	245,518	$2,121,275
SABS	SAB Biotherapeutics, Inc.	+23,271	73,271	$285,756
OKYO	OKYO Pharma Ltd	+12,996	862,996	$1,294,494
KLRS	Kalaris Therapeutics, Inc.	+9,722	30,122	$122,596
PLRX	Pliant Therapeutics, Inc.	+5,888	230,538	$262,813
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
HRTX	Heron Therapeutics, Inc. /De/	−911,404	1,490,787	$641,038
IKT	Inhibikase Therapeutics, Inc.	−561,023	396,179	$804,243
ADMA	Adma Biologics, Inc.	−500,000	1,390,000	$11,634,300
BOLD	Boundless Bio, Inc.	−443,087	154,595	$386,487
CRIS	Curis Inc	−414,221	3,312,185	$1,722,336
TENX	Tenax Therapeutics, Inc.	−315,200	660,000	$9,603,000
CDXS	Codexis, Inc.	−308,332	109,662	$247,836
ABEO	Abeona Therapeutics Inc.	−289,303	557,284	$3,444,015
MNKD	Mannkind Corp	−266,300	250,000	$1,065,000
MXCT	Maxcyte, Inc.	−253,067	751,606	$924,475
ZVRA	Zevra Therapeutics, Inc.	−221,299	258,701	$3,709,772
CTMX	CytomX Therapeutics, Inc.	−195,000	205,000	$768,750
PMVP	PMV Pharmaceuticals, Inc.	−172,016	536,086	$718,355
EOLS	Evolus, Inc.	−168,929	2,010,162	$13,950,524
ANTX	AN2 Therapeutics, Inc.	−162,153	551,692	$2,670,189
XFOR	X4 Pharmaceuticals, Inc	−110,320	224,989	$1,050,698
ZNTL	Zentalis Pharmaceuticals, Inc.	−107,517	161,583	$783,677
NMRA	Neumora Therapeutics, Inc.	−100,000	500,000	$850,000
CGEN	Compugen Ltd	−72,913	31,387	$67,168
POCI	Precision Optics Corporation, Inc.	−53,610	46,390	$236,589
BCAB	BioAtla, Inc.	−48,955	16,432	$68,028
CBIO	Crescent Biopharma, Inc.	−45,000	40,000	$720,000
XERS	Xeris Biopharma Holdings, Inc.	−40,030	280,000	$2,217,600
BIOA	BioAge Labs, Inc.	−30,000	20,000	$490,200
CNSP	CNS Pharmaceuticals, Inc.	−19,427	41,573	$198,718
No positions match the current search.

New Positions

Positions the filer opened this quarter

23 positions

Ticker	Company	Shares	Value
RARE	Ultragenyx Pharmaceutical Inc.	225,000	$7,512,750
ELOX	Eloxx Pharmaceuticals, Inc.	397,160	$5,512,580
INSM	INSMED Inc	40,000	$4,264,800
INDV	Indivior Pharmaceuticals, Inc.	100,000	$4,103,000
MDT	Medtronic plc	50,000	$3,911,500
ABT	Abbott Laboratories	40,000	$3,629,600
BMRN	Biomarin Pharmaceutical Inc	50,000	$2,861,000
BSX	Boston Scientific Corp	50,000	$2,134,000
SPRB	Spruce Biosciences, Inc.	28,795	$1,554,930
MLTX	MoonLake Immunotherapeutics	50,000	$973,500
AZTR	Azitra, Inc.	5,285,476	$887,959
NVCT	Nuvectis Pharma, Inc.	40,000	$735,600
ORKA	Oruka Therapeutics, Inc.	7,500	$713,775
CALC	CalciMedica, Inc.	622,432	$641,104
NGEN	Nervgen Pharma Corp.	271,678	$559,656
QTI	Qt Imaging Holdings, Inc.	100,000	$407,000
SINT	Sintx Technologies, Inc.	209,205	$391,213
CLRB	Cellectar Biosciences, Inc.	104,550	$290,649
EPRX	Eupraxia Pharmaceuticals Inc.	43,491	$287,475
ANL	Adlai Nortye Group Ltd.	24,257	$278,955
SENS	Senseonics Holdings, Inc.	48,680	$276,502
RNTX	Rein Therapeutics, Inc.	218,038	$226,759
HUMA	Humacyte, Inc.	231,299	$180,413
No positions match the current search.

Sold Out

Positions the filer fully exited

12 positions

Ticker	Company	Shares	Value
BWX	State Street SPDR Bloomberg International Treasury Bond ETF	800,000	$102,184,000
ESTA	Establishment Labs Holdings Inc.	56,000	$3,179,680
ARE	Alexandria Real Estate Equities, Inc.	50,000	$2,321,000
ACAD	Acadia Pharmaceuticals Inc	100,000	$2,226,000
SRZN	Surrozen, Inc./DE	33,005	$961,435
VRCA	Verrica Pharmaceuticals Inc.	99,735	$527,598
CADL	Candel Therapeutics, Inc.	102,500	$502,250
JANX	Janux Therapeutics, Inc.	20,000	$278,000
OABI	OmniAb, Inc.	164,045	$257,550
ELDN	Eledon Pharmaceuticals, Inc.	35,000	$107,800
—		69,500	$0
—		100,000	$0
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

83 tracked positions · $171,511,776 total · filing declares 87 positions · $177,260,827 · as of Jun 30, 2026

All sectors Healthcare

Showing 1–50 of 83 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
EOLS	Evolus, Inc. CALL + SHARES Healthcare	Reduced	2,010,162	-168,929	$13,950,524	+55.8%	8.13%
VSTM	Verastem, Inc. Healthcare	Added	3,349,627	+47,327	$12,795,575	−26.9%	7.46%
ADMA	Adma Biologics, Inc. CALL + SHARES Healthcare	Reduced	1,390,000	-500,000	$11,634,300	−31.7%	6.78%
TENX	Tenax Therapeutics, Inc. Healthcare	Reduced	660,000	-315,200	$9,603,000	−38.4%	5.60%
NKTR	Nektar Therapeutics Healthcare	Added	120,654	+35,654	$8,422,855	+37.7%	4.91%
RARE	Ultragenyx Pharmaceutical Inc. CALL + SHARES Healthcare	NEW	225,000	NEW	$7,512,750	NEW	4.38%
CAMP	Camp4 Therapeutics Corp Healthcare	Held	1,389,622	0	$6,072,648	−0.9%	3.54%
ELOX	Eloxx Pharmaceuticals, Inc. Healthcare	NEW	397,160	NEW	$5,512,580	NEW	3.21%
KZIA	Kazia Therapeutics Ltd Healthcare	Held	345,179	0	$4,860,120	+89.2%	2.83%
INSM	INSMED Inc CALL Healthcare	NEW	40,000	NEW	$4,264,800	NEW	2.49%
INDV	Indivior Pharmaceuticals, Inc. Healthcare	NEW	100,000	NEW	$4,103,000	NEW	2.39%
CRBP	Corbus Pharmaceuticals Holdings, Inc. Healthcare	Added	425,000	+41,538	$3,986,500	+10.7%	2.32%
MDT	Medtronic plc CALL Healthcare	NEW	50,000	NEW	$3,911,500	NEW	2.28%
MSLE	Satellos Bioscience Inc. Healthcare	Added	491,624	+391,624	$3,822,376	+578.9%	2.23%
EDSA	Edesa Biotech, Inc. Healthcare	Added	456,439	+426,439	$3,710,849	+2265.1%	2.16%
ZVRA	Zevra Therapeutics, Inc. Healthcare	Reduced	258,701	-221,299	$3,709,772	−17.1%	2.16%
ABT	Abbott Laboratories CALL Healthcare	NEW	40,000	NEW	$3,629,600	NEW	2.12%
ABEO	Abeona Therapeutics Inc. Healthcare	Reduced	557,284	-289,303	$3,444,015	−9.2%	2.01%
BMRN	Biomarin Pharmaceutical Inc CALL Healthcare	NEW	50,000	NEW	$2,861,000	NEW	1.67%
CABA	Cabaletta Bio, Inc. Healthcare	Added	917,100	+867,100	$2,852,181	+2020.6%	1.66%
ANTX	AN2 Therapeutics, Inc. Healthcare	Reduced	551,692	-162,153	$2,670,189	+9.4%	1.56%
XERS	Xeris Biopharma Holdings, Inc. CALL Healthcare	Reduced	280,000	-40,030	$2,217,600	+19.5%	1.29%
XLO	Xilio Therapeutics, Inc. Healthcare	Added	225,994	+161,832	$2,165,022	+301.2%	1.26%
BSX	Boston Scientific Corp CALL Healthcare	NEW	50,000	NEW	$2,134,000	NEW	1.24%
ACET	Adicet Bio, Inc. Healthcare	Added	245,518	+23,563	$2,121,275	+40.3%	1.24%
TELA	TELA Bio, Inc. Healthcare	Added	2,662,427	+45,175	$1,996,820	+23.1%	1.16%
AYTU	Aytu Biopharma, Inc Healthcare	Added	912,921	+120,632	$1,962,780	−9.3%	1.14%
CRIS	Curis Inc Healthcare	Reduced	3,312,185	-414,221	$1,722,336	−16.0%	1.00%
SIBN	SI-BONE, Inc. CALL Healthcare	Reduced	100,000	-14,964	$1,632,000	+12.4%	0.95%
SPRB	Spruce Biosciences, Inc. Healthcare	NEW	28,795	NEW	$1,554,930	NEW	0.91%
OKYO	OKYO Pharma Ltd Healthcare	Added	862,996	+12,996	$1,294,494	−5.4%	0.75%
DCTH	Delcath Systems, Inc. CALL Healthcare	Held	100,000	0	$1,259,000	+35.7%	0.73%
KTTA	Pasithea Therapeutics Corp. Healthcare	Added	2,201,468	+1,370,167	$1,133,756	+83.8%	0.66%
SLGL	Sol-Gel Technologies Ltd. Healthcare	Reduced	14,469	-13,309	$1,072,731	−51.3%	0.63%
MNKD	Mannkind Corp CALL Healthcare	Reduced	250,000	-266,300	$1,065,000	−15.8%	0.62%
LUNG	Pulmonx Corp Healthcare	Added	815,436	+47,148	$1,060,066	+7.0%	0.62%
XFOR	X4 Pharmaceuticals, Inc Healthcare	Reduced	224,989	-110,320	$1,050,698	−24.1%	0.61%
INAB	In8bio, Inc. Healthcare	Added	695,287	+31,875	$980,354	−0.2%	0.57%
MLTX	MoonLake Immunotherapeutics Healthcare	NEW	50,000	NEW	$973,500	NEW	0.57%
QNRX	Quoin Pharmaceuticals Ltd. Healthcare	Added	199,486	+146,026	$965,512	+173.6%	0.56%
MXCT	Maxcyte, Inc. Healthcare	Reduced	751,606	-253,067	$924,475	+30.9%	0.54%
PHAT	Phathom Pharmaceuticals, Inc. Healthcare	Added	85,010	+35,000	$922,358	+66.0%	0.54%
AZTR	Azitra, Inc. Healthcare	NEW	5,285,476	NEW	$887,959	NEW	0.52%
CNTB	Connect Biopharma Holdings Ltd Healthcare	Added	364,254	+54,254	$866,924	+6.7%	0.51%
HELP	Cybin Inc. Healthcare	Reduced	129,280	-4,780	$854,540	+32.8%	0.50%
NMRA	Neumora Therapeutics, Inc. CALL Healthcare	Reduced	500,000	-100,000	$850,000	−27.4%	0.50%
IKT	Inhibikase Therapeutics, Inc. Healthcare	Reduced	396,179	-561,023	$804,243	−50.0%	0.47%
ZNTL	Zentalis Pharmaceuticals, Inc. Healthcare	Reduced	161,583	-107,517	$783,677	+24.5%	0.46%
CTMX	CytomX Therapeutics, Inc. Healthcare	Reduced	205,000	-195,000	$768,750	−59.1%	0.45%
ARDX	Ardelyx, Inc. CALL Healthcare	Held	150,000	0	$765,000	−14.9%	0.45%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.