2026 Q2 Portfolio Activity
In 2026 Q2, Stonepine Capital Management, LLC maintained a portfolio of 115 distinct positions. The most significant new addition was AZITRA INC, now representing 3.74% of the total fund value. They heavily accumulated shares in EVOLUS INC, increasing the position by 278.6%. Conversely, Stonepine Capital Management, LLC completely exited their position in SPDR SERIES TRUST.
Position History
hover any row below to update
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Total Positions
115
Quarter
2026 Q2
Top Holding
VSTM (6.0%)
Top 10 Concentration
40.4%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 115
Stonepine Capital Management, LLC Full Holdings List — 2026 Q2
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
VSTM
VERASTEM INC
|
Healthcare | 5.99% | 7.01% |
#1
2
Prev: #3
|
4.9 |
—
|
47,327 | 1.4% |
P
S
|
3,349,627 | $12,795,575 |
$5.35
+23.0%
|
2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
EOLS
EVOLUS INC
|
Healthcare | 5.17% | 2.90% |
#2
4
Prev: #6
|
4.1 |
—
|
-168,929 | -9.6% |
P
S
|
1,590,162 | $11,035,724 |
$6.88
+18.5%
|
2018 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
AYTU
AYTU BIOPHARMA ...
|
Healthcare | 4.51% | 0.87% |
#3
18
Prev: #21
|
5.8 |
—
|
4,197,949 | 529.9% |
P
S
|
4,990,238 | $9,623,729 |
$28.55
-91.7%
|
2020 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
TENX
TENAX THERAPEUT...
|
Healthcare | 4.50% | 6.24% |
#4
Prev: #4
|
2.3 |
—
|
-315,200 | -32.3% |
P
S
|
660,000 | $9,603,000 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
NKTR
NEKTAR THERAPEU...
|
Healthcare | 3.94% | 2.45% |
#5
4
Prev: #9
|
4.6 |
—
|
35,654 | 41.9% |
P
S
|
120,654 | $8,422,856 | 2024 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
AZTR
AZITRA INC
|
Healthcare | 3.74% | — |
#6
Prev: #—
|
5.0 |
—
|
81,797,553 | — |
NEW
|
81,797,553 | $7,981,143 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ADMA
CALL
ADMA BIOLOGICS ...
|
CALL Option | 3.72% | 4.15% |
#7
2
Prev: #5
|
1.5 |
—
|
-500,000 | -43.5% |
P
S
|
650,000 | $7,950,000 | 2017 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CNSP
CNS PHARMACEUTI...
|
Healthcare | 3.01% | 0.06% |
#8
67
Prev: #75
|
4.2 |
—
|
1,284,921 | 2106.4% |
P
S
|
1,345,921 | $6,433,502 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
N/A
ELOXX PHARMACEU...
|
|
Unknown | 2.91% | — |
#9
Prev: #—
|
4.7 |
—
|
447,160 | — |
NEW
|
447,160 | $6,206,581 | — | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
ADMA
ADMA BIOLOGICS ...
|
Healthcare | 2.90% | 2.67% |
#10
3
Prev: #7
|
2.2 |
—
|
no change | no change |
P
S
|
740,000 | $6,193,800 | 2017 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CAMP
CAMP4 THERAPEUT...
|
Bond/Debt | 2.84% | 2.45% |
#11
3
Prev: #8
|
2.1 |
—
|
no change | no change |
P
S
|
1,389,622 | $6,072,648 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
INSM
CALL
INSMED INC
|
CALL Option | 2.62% | — |
#12
Prev: #—
|
4.5 |
—
|
40,000 | — |
NEW
|
40,000 | $5,600,000 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
RARE
CALL
ULTRAGENYX PHAR...
|
CALL Option | 2.57% | — |
#13
Prev: #—
|
4.5 |
—
|
200,000 | — |
NEW
|
200,000 | $5,500,000 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
KZIA
KAZIA THERAPEUT...
|
Healthcare | 2.28% | 1.03% |
#14
1
Prev: #15
|
1.9 |
—
|
no change | no change |
P
S
|
345,179 | $4,860,120 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SRZN
SURROZEN INC
|
Healthcare | 2.20% | 0.39% |
#15
22
Prev: #37
|
3.9 |
—
|
34,996 | 106.0% |
P
S
|
68,001 | $4,709,606 | 2024 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MDT
CALL
MEDTRONIC PLC
|
CALL Option | 2.05% | — |
#16
Prev: #—
|
4.3 |
—
|
50,000 | — |
NEW
|
50,000 | $4,375,000 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
INDV
INDIVIOR PHARMA...
|
Healthcare | 1.92% | — |
#17
Prev: #—
|
4.3 |
—
|
100,000 | — |
NEW
|
100,000 | $4,103,000 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CRBP
CORBUS PHARMACE...
|
Healthcare | 1.87% | 1.44% |
#18
6
Prev: #12
|
2.7 |
—
|
41,538 | 10.8% |
P
S
|
425,000 | $3,986,500 | 2025 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ABT
CALL
ABBOTT LABORATO...
|
CALL Option | 1.78% | — |
#19
Prev: #—
|
4.2 |
—
|
40,000 | — |
NEW
|
40,000 | $3,800,000 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
N/A
SATELLOS BIOSCI...
|
|
Unknown | 1.74% | 0.23% |
#20
33
Prev: #53
|
3.7 |
—
|
391,624 | 391.6% |
P
S
|
491,624 | $3,723,291 | — | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
ZVRA
ZEVRA THERAPEUT...
|
Healthcare | 1.74% | 1.79% |
#21
10
Prev: #11
|
0.7 |
—
|
-221,299 | -46.1% |
P
S
|
258,701 | $3,709,772 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ABEO
ABEONA THERAPEU...
|
Healthcare | 1.61% | 1.34% |
#22
9
Prev: #13
|
0.6 |
—
|
-189,303 | -25.4% |
P
S
|
557,284 | $3,444,015 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
BSX
CALL
BOSTON SCIENTIF...
|
CALL Option | 1.52% | — |
#23
Prev: #—
|
4.1 |
—
|
50,000 | — |
NEW
|
50,000 | $3,250,000 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
EDSA
EDESA BIOTECH I...
|
Healthcare | 1.49% | 0.06% |
#24
50
Prev: #74
|
3.6 |
—
|
426,439 | 1421.5% |
P
S
|
456,439 | $3,190,807 | 2025 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CRIS
CURIS INC
|
Healthcare | 1.47% | 0.82% |
#25
3
Prev: #22
|
3.6 |
—
|
10,585,781 | 284.1% |
P
S
|
14,312,187 | $3,150,280 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
EOLS
CALL
EVOLUS INC
|
CALL Option | 1.47% | 0.69% |
#26
3
Prev: #23
|
1.6 |
—
|
no change | no change |
P
S
|
420,000 | $3,150,000 | 2018 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
BMRN
CALL
BIOMARIN PHARMA...
|
CALL Option | 1.46% | — |
#27
Prev: #—
|
4.1 |
—
|
50,000 | — |
NEW
|
50,000 | $3,125,000 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CABA
CABALETTA BIO I...
|
Healthcare | 1.34% | 0.05% |
#28
49
Prev: #77
|
3.5 |
—
|
867,100 | 1734.2% |
P
S
|
917,100 | $2,852,181 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ANTX
AN2 THERAPEUTIC...
|
Healthcare | 1.25% | 0.98% |
#29
13
Prev: #16
|
0.5 |
—
|
-162,153 | -22.7% |
P
S
|
551,692 | $2,670,190 | 2024 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IKT
INHIBIKASE THER...
|
Healthcare | 1.11% | 0.64% |
#30
4
Prev: #26
|
3.4 |
—
|
1,511,393 | 157.9% |
P
S
|
2,468,595 | $2,379,231 | 2024 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
INAB
IN8BIO INC
|
Healthcare | 1.07% | 0.39% |
#31
4
Prev: #35
|
3.4 |
—
|
961,150 | 144.9% |
P
S
|
1,624,562 | $2,290,633 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
N/A
XILIO THERAPEUT...
|
|
Unknown | 1.01% | 0.22% |
#32
24
Prev: #56
|
3.4 |
—
|
161,832 | 252.2% |
P
S
|
225,994 | $2,165,023 | — | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
ACET
ADICET BIO INC
|
Healthcare | 0.99% | 0.61% |
#33
5
Prev: #28
|
2.4 |
—
|
23,563 | 10.6% |
P
S
|
245,518 | $2,121,276 | 2024 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
XERS
CALL
XERIS BIOPHARMA...
|
CALL Option | 0.98% | 0.65% |
#34
10
Prev: #24
|
1.4 |
—
|
no change | no change |
P
S
|
280,000 | $2,100,000 | 2021 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
QNRX
QUOIN PHARMACEU...
|
Healthcare | 0.96% | 0.14% |
#35
26
Prev: #61
|
3.4 |
—
|
712,086 | 1332.0% |
P
S
|
765,546 | $2,041,567 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
TELA
TELA BIO INC
|
Healthcare | 0.93% | 0.65% |
#36
11
Prev: #25
|
0.9 |
—
|
45,175 | 1.7% |
P
S
|
2,662,427 | $1,996,820 | 2023 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
N/A
ADIAL PHARMACEU...
|
|
Unknown | 0.74% | — |
#37
Prev: #—
|
3.8 |
—
|
727,563 | — |
NEW
|
727,563 | $1,583,177 | — | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
SPRB
SPRUCE BIOSCIEN...
|
Healthcare | 0.73% | — |
#38
Prev: #—
|
3.8 |
—
|
28,795 | — |
NEW
|
28,795 | $1,554,930 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
HRTX
CALL
HERON THERAPEUT...
|
CALL Option | 0.70% | 0.32% |
#40
5
Prev: #45
|
1.3 |
—
|
no change | no change |
P
S
|
1,000,000 | $1,500,000 | 2024 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SIBN
CALL
SI BONE INC
|
CALL Option | 0.70% | 0.51% |
#39
8
Prev: #31
|
1.3 |
—
|
no change | no change |
P
S
|
100,000 | $1,500,000 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
OKYO
OKYO PHARMA LTD
|
Healthcare | 0.61% | 0.55% |
#41
11
Prev: #30
|
0.7 |
—
|
12,996 | 1.5% |
P
S
|
862,996 | $1,294,494 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CALC
CALCIMEDICA INC
|
Healthcare | 0.59% | — |
#42
Prev: #—
|
3.7 |
—
|
2,128,597 | — |
NEW
|
2,128,597 | $1,262,930 | 2024 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
NMRA
CALL
NEUMORA THERAPE...
|
CALL Option | 0.59% | 0.39% |
#43
7
Prev: #36
|
1.2 |
—
|
no change | no change |
P
S
|
500,000 | $1,250,000 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
KTTA
PASITHEA THERAP...
|
Healthcare | 0.53% | 0.25% |
#44
8
Prev: #52
|
3.2 |
—
|
1,370,167 | 164.8% |
P
S
|
2,201,468 | $1,134,637 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SLGL
SOL-GEL TECHNOL...
|
Healthcare | 0.50% | 0.88% |
#45
26
Prev: #19
|
0.2 |
—
|
-13,309 | -47.9% |
P
S
|
14,469 | $1,072,732 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
LUNG
PULMONX CORP
|
Healthcare | 0.50% | 0.40% |
#46
12
Prev: #34
|
2.2 |
—
|
47,148 | 6.1% |
P
S
|
815,436 | $1,060,067 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
XFOR
X4 PHARMACEUTIC...
|
Healthcare | 0.49% | 0.55% |
#47
18
Prev: #29
|
0.2 |
—
|
-110,320 | -32.9% |
P
S
|
224,989 | $1,050,699 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ARDX
CALL
ARDELYX INC
|
CALL Option | 0.49% | 0.36% |
#48
7
Prev: #41
|
1.2 |
—
|
no change | no change |
P
S
|
150,000 | $1,050,000 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
DCTH
CALL
DELCATH SYS INC
|
CALL Option | 0.47% | 0.37% |
#49
9
Prev: #40
|
1.2 |
—
|
no change | no change |
P
S
|
100,000 | $1,000,000 | 2023 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MLTX
MOONLAKE IMMUNO...
|
Healthcare | 0.46% | — |
#50
Prev: #—
|
3.7 |
—
|
50,000 | — |
NEW
|
50,000 | $973,500 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 |
Showing 1-50 of 115 holdings