ADAR1 Capital Management 13FHR Quarterly holdings report by institutional manager | SEC 14 Nov 24

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
10X GENOMICS INC	CL A COM	88025U109	338,700	15,000	SH		SOLE		15,000	0	0
4D MOLECULAR THERAPEUTICS IN	COM	35104E100	64,860	6,000	SH		SOLE		6,000	0	0
89BIO INC	COM	282559103	48,544	6,560	SH		SOLE		6,560	0	0
AA MISSION ACQUISITION CORP	ORD SHS CL A	G1000R101	10,122,194	1,010,199	SH		SOLE		1,010,199	0	0
AA MISSION ACQUISITION CORP	*W EXP 08/01/203	G1000R127	30,306	505,099	SH		SOLE		505,099	0	0
ABCELLERA BIOLOGICS INC	COM	00288U106	298,951	114,981	SH		SOLE		114,981	0	0
ABEONA THERAPEUTICS INC	COM NEW	00289Y206	153,715	24,322	SH		SOLE		24,322	0	0
ABIVAX SA	SPONSORED ADS	00370M103	6,008,970	521,612	SH		SOLE		521,612	0	0
ABSCI CORPORATION	COM	00091E109	3,841,965	1,005,750	SH		SOLE		1,005,750	0	0
ACADIA PHARMACEUTICALS INC	COM	004225108	355,278	23,100	SH		SOLE		23,100	0	0
ACASTI PHARMA INC	CL A	00439U104	2,878,713	959,571	SH		SOLE		959,571	0	0
ACELYRIN INC	COM	00445A100	263,755	53,500	SH		SOLE		53,500	0	0
ACHIEVE LIFE SCIENCES INC	COM	004468500	431	91	SH		SOLE		91	0	0
ACLARIS THERAPEUTICS INC	COM	00461U105	103,500	90,000	SH		SOLE		90,000	0	0
ADAGIO MED HLDGS INC	COM	00534B100	384,061	148,861	SH		SOLE		148,861	0	0
ADDEX THERAPEUTICS LTD	SPONSORED ADS	00654J206	9,770	1,000	SH		SOLE		1,000	0	0
AEROVATE THERAPEUTICS INC	COM	008064107	236,327	113,075	SH		SOLE		113,075	0	0
AGIOS PHARMACEUTICALS INC	COM	00847X104	946,359	21,300	SH		SOLE		21,300	0	0
AGRICULTURE & NAT SOL ACQ CO	SHS CL A	G0131Y100	831,747	80,362	SH		SOLE		80,362	0	0
AI TRANSN ACQUISITION CORP	RIGHT 09/01/2028	G01490104	1,275	7,500	SH		SOLE		7,500	0	0
AI TRANSN ACQUISITION CORP	ORD SHS	G01490112	78,600	7,500	SH		SOLE		7,500	0	0
AIMFINITY INVESTMENT CORP I	*W EXP 99/99/999	G0135E126	362	18,000	SH		SOLE		18,000	0	0
AKERO THERAPEUTICS INC	COM	00973Y108	660,071	23,007	SH		SOLE		23,007	0	0
AKERO THERAPEUTICS INC	COM	00973Y108	645,525	22,500	SH	Call	SOLE		0	0	0
ALDEYRA THERAPEUTICS INC	COM	01438T106	1,628,923	302,212	SH		SOLE		302,212	0	0
ALECTOR INC	COM	014442107	1,998,217	428,802	SH		SOLE		428,802	0	0
ALGONQUIN PWR UTILS CORP	COM	015857105	436,000	80,000	SH		SOLE		80,000	0	0
ALKERMES PLC	SHS	G01767105	2,083,324	74,431	SH		SOLE		74,431	0	0
ALTO NEUROSCIENCE INC	COM SHS	02157Q109	1,144	100	SH	Put	SOLE		100	0	0
AMPLIFY ENERGY CORP NEW	COM	03212B103	120,642	18,475	SH		SOLE		18,475	0	0
AMYLYX PHARMACEUTICALS INC	COM	03237H101	715,735	220,906	SH		SOLE		220,906	0	0
AMYLYX PHARMACEUTICALS INC	COM	03237H101	32,400	10,000	SH	Call	SOLE		0	0	0
ANAPTYSBIO INC	COM	032724106	6,456,120	192,720	SH		SOLE		192,720	0	0
ANI PHARMACEUTICALS INC	COM	00182C103	101,422	1,700	SH		SOLE		1,700	0	0
APELLIS PHARMACEUTICALS INC	COM	03753U106	497,548	17,252	SH		SOLE		17,252	0	0
APOGEE THERAPEUTICS INC	COM	03770N101	3,358,929	57,183	SH		SOLE		57,183	0	0
APPLIED THERAPEUTICS INC	COM	03828A101	74,180	8,727	SH		SOLE		8,727	0	0
APPLIED THERAPEUTICS INC	COM	03828A101	4,506,700	530,200	SH	Call	SOLE		0	0	0
ARBUTUS BIOPHARMA CORP	COM	03879J100	8,043,886	2,089,321	SH		SOLE		2,089,321	0	0
ARCELLX INC	COMMON STOCK	03940C100	330,867	3,962	SH		SOLE		3,962	0	0
ARDELYX INC	COM	039697107	44,096	6,400	SH		SOLE		6,400	0	0
ARES ACQUISITION CORP II	SHS CLASS A	G33033104	1,505,002	138,966	SH		SOLE		138,966	0	0
ARGENX SE	SPONSORED ADR	04016X101	59,629	110	SH		SOLE		110	0	0
ARROWHEAD PHARMACEUTICALS IN	COM	04280A100	226,726	11,705	SH		SOLE		11,705	0	0
ARVINAS INC	COM	04335A105	502,452	20,400	SH		SOLE		20,400	0	0
ASCENDIS PHARMA A/S	SPONSORED ADR	04351P101	24,098,933	161,402	SH		SOLE		161,402	0	0
ASTRAZENECA PLC	SPONSORED ADR	046353108	54,537	700	SH		SOLE		700	0	0
ASTRIA THERAPEUTICS INC	COM	04635X102	1,027,057	93,284	SH		SOLE		93,284	0	0
AURA BIOSCIENCES INC	COM	05153U107	656,337	73,663	SH		SOLE		73,663	0	0
AVADEL PHARMACEUTICALS PLC	COM SHS	G29687103	1,061,004	80,900	SH		SOLE		80,900	0	0
AVANGRID INC	COM	05351W103	823,170	23,000	SH		SOLE		23,000	0	0
AVIDITY BIOSCIENCES INC	COM	05370A108	27,558	600	SH		SOLE		600	0	0
AXSOME THERAPEUTICS INC	COM	05464T104	53,922	600	SH		SOLE		600	0	0
BAUSCH HEALTH COS INC	COM	071734107	30,192	3,700	SH		SOLE		3,700	0	0
BAUSCH PLUS LOMB CORP	COMMON SHARES	071705107	11,574	600	SH		SOLE		600	0	0
BEAM THERAPEUTICS INC	COM	07373V105	1,075,550	43,900	SH		SOLE		43,900	0	0
BEIGENE LTD	SPONSORED ADR	07725L102	219,571	978	SH		SOLE		978	0	0
BEYOND AIR INC	COM	08862L103	109,467	282,131	SH		SOLE		282,131	0	0
BICARA THERAPEUTICS INC	COM	055477103	1,030,007	40,440	SH		SOLE		40,440	0	0
BIOCRYST PHARMACEUTICALS INC	COM	09058V103	266,000	35,000	SH		SOLE		35,000	0	0
BIOGEN INC	COM	09062X103	5,742,510	29,625	SH		SOLE		29,625	0	0
BIOHAVEN LTD	COM	G1110E107	131,771	2,637	SH		SOLE		2,637	0	0
BIOMARIN PHARMACEUTICAL INC	COM	09061G101	84,348	1,200	SH		SOLE		1,200	0	0
BIOMARIN PHARMACEUTICAL INC	COM	09061G101	351,450	5,000	SH	Call	SOLE		0	0	0
BIOMX INC	COM NEW	09090D301	441,354	432,700	SH		SOLE		432,700	0	0
BIONTECH SE	SPONSORED ADS	09075V102	1,187,700	10,000	SH		SOLE		10,000	0	0
BLACK HAWK ACQUISITION CORP	RIGHT 06/20/2025	G1148A119	3,480	3,000	SH		SOLE		3,000	0	0
BLACK HAWK ACQUISITION CORP	USD CL A SHS	G1148A101	153,600	15,000	SH		SOLE		15,000	0	0
BLUEPRINT MEDICINES CORP	COM	09627Y109	471,750	5,100	SH		SOLE		5,100	0	0
BOLT BIOTHERAPEUTICS INC	COM	097702104	158,738	244,966	SH		SOLE		244,966	0	0
BOSTON SCIENTIFIC CORP	COM	101137107	209,500	2,500	SH		SOLE		2,500	0	0
BRIDGEBIO PHARMA INC	COM	10806X102	36,878,046	1,448,470	SH		SOLE		1,448,470	0	0
CAPRICOR THERAPEUTICS INC	COM NEW	14070B309	369,709	24,307	SH		SOLE		24,307	0	0
CARA THERAPEUTICS INC	COM	140755109	49,116	159,469	SH		SOLE		159,469	0	0
CASI PHARMACEUTICALS INC	ORD SHS	G1933S101	399,384	64,835	SH		SOLE		64,835	0	0
CELCUITY INC	COM	15102K100	44,730	3,000	SH		SOLE		3,000	0	0
CELLDEX THERAPEUTICS INC NEW	COM NEW	15117B202	169,950	5,000	SH		SOLE		5,000	0	0
CELLECTAR BIOSCIENCES INC	COM NEW	15117F807	2,187,425	1,022,161	SH		SOLE		1,022,161	0	0
CENTESSA PHARMACEUTICALS PLC	SPONSORED ADS	152309100	372,599	23,302	SH		SOLE		23,302	0	0
CG ONCOLOGY INC	COM	156944100	5,399,314	143,104	SH		SOLE		143,104	0	0
CHIMERIX INC	COM	16934W106	223,718	240,557	SH		SOLE		240,557	0	0
CONTEXT THERAPEUTICS INC	COM	21077P108	732,717	373,835	SH		SOLE		373,835	0	0
CONTINEUM THERAPEUTICS INC	CL A	21217B100	171,628	8,967	SH		SOLE		8,967	0	0
CORBUS PHARMACEUTICALS HLDGS	COM NEW	21833P301	82,520	4,000	SH		SOLE		4,000	0	0
CRINETICS PHARMACEUTICALS IN	COM	22663K107	4,518,518	88,425	SH		SOLE		88,425	0	0
CULLINAN THERAPEUTICS INC	COM	230031106	909,953	54,358	SH		SOLE		54,358	0	0
CVS HEALTH CORP	COM	126650100	62,880	1,000	SH		SOLE		1,000	0	0
CYTOKINETICS INC	COM NEW	23282W605	48,110,410	911,182	SH		SOLE		911,182	0	0
CYTOKINETICS INC	COM NEW	23282W605	797,280	15,100	SH	Call	SOLE		0	0	0
CYTOMX THERAPEUTICS INC	COM	23284F105	1,066,672	903,959	SH		SOLE		903,959	0	0
DAY ONE BIOPHARMACEUTICALS I	COM	23954D109	739,836	53,111	SH		SOLE		53,111	0	0
DELCATH SYS INC	COM NEW	24661P807	280,400	31,052	SH		SOLE		31,052	0	0
DENALI THERAPEUTICS INC	COM	24823R105	2,966,191	101,826	SH		SOLE		101,826	0	0
DIANTHUS THERAPEUTICS INC	COM	252828108	3,251,046	118,738	SH		SOLE		118,738	0	0
DIREXION SHS ETF TR	DAILY S&P BIOTEC	25460G716	49,056	8,400	SH		SOLE		8,400	0	0
DISC MEDICINE INC	COM	254604101	1,108,795	22,564	SH		SOLE		22,564	0	0
DYNE THERAPEUTICS INC	COM	26818M108	14,368	400	SH		SOLE		400	0	0
EA SERIES TRUST	ALPHA ARCH 1-3	02072L565	35,226,001	323,382	SH		SOLE		323,382	0	0
EDGEWISE THERAPEUTICS INC	COM	28036F105	485,171	18,178	SH		SOLE		18,178	0	0
ELI LILLY & CO	COM	532457108	1,018,831	1,150	SH		SOLE		1,150	0	0
ELIEM THERAPEUTICS INC	COM	28658R106	831,925	163,443	SH		SOLE		163,443	0	0
EMBRACE CHANGE ACQUISITN COR	RIGHT 10/25/2026	G3034H141	1,446	13,144	SH		SOLE		13,144	0	0
EMBRACE CHANGE ACQUISITN COR	*W EXP 10/25/202	G3034H125	265	18,000	SH		SOLE		18,000	0	0
ENDEAVOR GROUP HLDGS INC	CL A COM	29260Y109	3,507,368	122,807	SH		SOLE		122,807	0	0
ENGENE HOLDINGS INC	COM	29286M105	13,002	1,970	SH		SOLE		1,970	0	0
ENVVENO MEDICAL CORPORATION	COM	29415J106	1,170,164	348,263	SH		SOLE		348,263	0	0
EQUILLIUM INC	COM	29446K106	6,089	7,318	SH		SOLE		7,318	0	0
ESTABLISHMENT LABS HLDGS INC	COM	G31249108	86,540	2,000	SH		SOLE		2,000	0	0
EXACT SCIENCES CORP	COM	30063P105	1,035,424	15,200	SH		SOLE		15,200	0	0
EYEPOINT PHARMACEUTICALS INC	COM NEW	30233G209	15,980	2,000	SH		SOLE		2,000	0	0
FIBROGEN INC	COM	31572Q808	48,193	120,663	SH		SOLE		120,663	0	0
FORTE BIOSCIENCES INC	COM NEW	34962G208	33,540	6,000	SH		SOLE		6,000	0	0
FULCRUM THERAPEUTICS INC	COM	359616109	199,213	55,802	SH		SOLE		55,802	0	0
FULCRUM THERAPEUTICS INC	COM	359616109	53,550	15,000	SH	Call	SOLE		0	0	0
FUTURETECH II ACQUISITION CO	*W EXP 08/18/202	36119D111	762	30,000	SH		SOLE		30,000	0	0
GALECTIN THERAPEUTICS INC	COM NEW	363225202	152,075	55,300	SH	Put	SOLE		55,300	0	0
GERON CORP	COM	374163103	2,529,502	557,159	SH		SOLE		557,159	0	0
GLOBAL STAR ACQUISITION INC	RIGHT 06/21/2024	37962G128	11,513	88,560	SH		SOLE		88,560	0	0
GLOBAL STAR ACQUISITION INC	*W EXP 07/15/202	37962G110	2,400	120,000	SH		SOLE		120,000	0	0
GLYCOMIMETICS INC	COM	38000Q102	7,723	45,700	SH		SOLE		45,700	0	0
GOSSAMER BIO INC	COM	38341P102	411,287	416,958	SH		SOLE		416,958	0	0
GOSSAMER BIO INC	COM	38341P102	19,728	20,000	SH	Call	SOLE		0	0	0
GRAIL INC	COM	384747101	60,558	4,401	SH		SOLE		4,401	0	0
GREENLIGHT CAPITAL RE LTD	CLASS A	G4095J109	59,855	4,385	SH		SOLE		4,385	0	0
HELIX ACQUISITION CORP II	CL A ORD SHS	G4444H101	4,223,202	404,138	SH		SOLE		404,138	0	0
IBIO INC	CON NEW	451033708	1,057,191	476,212	SH		SOLE		476,212	0	0
ICHOR HOLDINGS	SHS	G4740B105	3,435	108	SH		SOLE		108	0	0
IDEAYA BIOSCIENCES INC	COM	45166A102	31,680	1,000	SH		SOLE		1,000	0	0
IKENA ONCOLOGY INC	COM	45175G108	77,219	44,635	SH		SOLE		44,635	0	0
IMMUNOVANT INC	COM	45258J102	32,264,967	1,131,707	SH		SOLE		1,131,707	0	0
IMMUNOVANT INC	COM	45258J102	290,802	10,200	SH	Call	SOLE		0	0	0
INDIVIOR PLC	ORD	G4766E116	527,056	54,057	SH		SOLE		54,057	0	0
INSMED INC	COM PAR $.01	457669307	265,282	3,634	SH		SOLE		3,634	0	0
INSTIL BIO INC	COM NEW	45783C200	1,595,955	23,707	SH		SOLE		23,707	0	0
INTELLIA THERAPEUTICS INC	COM	45826J105	16,440	800	SH		SOLE		800	0	0
INTELLIGENT BIO SOLUTIONS IN	COM	36151G600	9,323	5,389	SH		SOLE		5,389	0	0
INTRA-CELLULAR THERAPIES INC	COM	46116X101	980,478	13,400	SH		SOLE		13,400	0	0
IONIS PHARMACEUTICALS INC	COM	462222100	28,042	700	SH		SOLE		700	0	0
IOVANCE BIOTHERAPEUTICS INC	COM	462260100	147,423	15,700	SH		SOLE		15,700	0	0
IRON HORSE ACQUISITIONS CORP	*W EXP 99/99/999	462837113	768	25,000	SH		SOLE		25,000	0	0
IRON HORSE ACQUISITIONS CORP	RIGHT 99/99/9999	462837121	4,250	25,000	SH		SOLE		25,000	0	0
IRON HORSE ACQUISITIONS CORP	COM	462837105	254,750	25,000	SH		SOLE		25,000	0	0
ITEOS THERAPEUTICS INC	COM	46565G104	3,846,485	376,737	SH		SOLE		376,737	0	0
ITERIS INC NEW	COM	46564T107	71,400	10,000	SH		SOLE		10,000	0	0
JANUX THERAPEUTICS INC	COM	47103J105	590,590	13,000	SH		SOLE		13,000	0	0
JASPER THERAPEUTICS INC	COM NEW	471871202	297,499	15,816	SH		SOLE		15,816	0	0
JVSPAC ACQUISITION CORP	RIGHT 11/26/2026	G5212E113	8,109	30,000	SH		SOLE		30,000	0	0
JVSPAC ACQUISITION CORP	SHS CL A	G5212E105	310,200	30,000	SH		SOLE		30,000	0	0
KALA BIO INC	COM NEW	483119202	1,744,582	306,067	SH		SOLE		306,067	0	0
KALVISTA PHARMACEUTICALS INC	COM	483497103	163,776	14,143	SH		SOLE		14,143	0	0
KEEN VISION ACQUISITION CORP	UNIT 99/99/9999	G52443101	804,750	75,000	SH		SOLE		75,000	0	0
KEROS THERAPEUTICS INC	COM	492327101	25,845,099	445,068	SH		SOLE		445,068	0	0
KEROS THERAPEUTICS INC	COM	492327101	17,421	300	SH	Call	SOLE		0	0	0
KEZAR LIFE SCIENCES INC	COM	49372L209	1,034,753	1,338,273	SH		SOLE		1,338,273	0	0
KINIKSA PHARMACEUTICALS INTL	ORD SHS CL A	G52694109	10,912,333	436,668	SH		SOLE		436,668	0	0
KIORA PHARMACEUTICALS INC	COM	49721T507	719,377	196,551	SH		SOLE		196,551	0	0
KORRO BIO INC	COM	500946108	1,652,652	49,451	SH		SOLE		49,451	0	0
KRYSTAL BIOTECH INC	COM	501147102	18,203	100	SH		SOLE		100	0	0
KURA ONCOLOGY INC	COM	50127T109	586,200	30,000	SH		SOLE		30,000	0	0
KYMERA THERAPEUTICS INC	COM	501575104	561,144	11,856	SH		SOLE		11,856	0	0
LEXEO THERAPEUTICS INC	COM	52886X107	516,781	57,166	SH		SOLE		57,166	0	0
LIQUIDIA CORPORATION	COM NEW	53635D202	92,850	9,285	SH		SOLE		9,285	0	0
LUMOS PHARMA INC	COM	55028X109	38,700	10,000	SH		SOLE		10,000	0	0
MADRIGAL PHARMACEUTICALS INC	COM	558868105	10,611	50	SH		SOLE		50	0	0
MARAVAI LIFESCIENCES HLDGS I	COM CL A	56600D107	5,817	700	SH		SOLE		700	0	0
MARKER THERAPEUTICS INC	COM NEW	57055L206	6,858	2,432	SH		SOLE		2,432	0	0
MASIMO CORP	COM	574795100	519,187	3,894	SH		SOLE		3,894	0	0
MCKESSON CORP	COM	58155Q103	914,677	1,850	SH		SOLE		1,850	0	0
MCKESSON CORP	COM	58155Q103	1,483,260	3,000	SH	Call	SOLE		0	0	0
MERCK & CO INC	COM	58933Y105	129,458	1,140	SH		SOLE		1,140	0	0
MEREO BIOPHARMA GROUP PLC	SPON ADS	589492107	41,100	10,000	SH		SOLE		10,000	0	0
MERUS N V	COM	N5749R100	7,658,169	153,286	SH		SOLE		153,286	0	0
MILESTONE PHARMACEUTICALS IN	COM	59935V107	42,455	27,931	SH		SOLE		27,931	0	0
MINERALYS THERAPEUTICS INC	COM	603170101	8,833,046	729,401	SH		SOLE		729,401	0	0
MIRUM PHARMACEUTICALS INC	COM	604749101	939,900	24,100	SH		SOLE		24,100	0	0
MITEK SYS INC	COM NEW	606710200	1,734	200	SH		SOLE		200	0	0
MKDWELL TECH INC	*W EXP 07/31/202	G6209W116	60	3,270	SH		SOLE		3,270	0	0
MOONLAKE IMMUNOTHERAPEUTICS	CLASS A ORD	61559X104	1,182,702	23,457	SH		SOLE		23,457	0	0
MOVANO INC	COM	62459M206	416,494	1,159,826	SH		SOLE		1,159,826	0	0
NABORS ENERGY TRANSITION COR	CL A	G6363K106	638,534	59,900	SH		SOLE		59,900	0	0
NCR ATLEOS CORPORATION	COM SHS	63001N106	28,530	1,000	SH		SOLE		1,000	0	0
NCR VOYIX CORPORATION	COM	62886E108	27,140	2,000	SH		SOLE		2,000	0	0
NEKTAR THERAPEUTICS	COM	640268108	88,080	67,754	SH		SOLE		67,754	0	0
NEUROGENE INC	COM	64135M105	23,204	553	SH		SOLE		553	0	0
NEXTCURE INC	COM	65343E108	164,418	120,013	SH		SOLE		120,013	0	0
NORDSTROM INC	COM	655664100	44,980	2,000	SH		SOLE		2,000	0	0
NOVO-NORDISK A S	ADR	670100205	1,190,700	10,000	SH	Call	SOLE		0	0	0
NOVO-NORDISK A S	ADR	670100205	2,381,400	20,000	SH	Put	SOLE		20,000	0	0
NUVALENT INC	COM	670703107	1,068,217	10,442	SH		SOLE		10,442	0	0
NUVEI CORPORATION	SUB VTG SHS	67079A102	166,750	5,000	SH		SOLE		5,000	0	0
OAK WOODS ACQUISITION CORP	CL A	67190B104	333,000	30,000	SH		SOLE		30,000	0	0
OKLO INC	COM CL A	02156V109	8,090	1,000	SH		SOLE		1,000	0	0
OMNIAB INC	COM	68218J103	5,656,787	1,337,302	SH		SOLE		1,337,302	0	0
OPTION CARE HEALTH INC	COM NEW	68404L201	626,000	20,000	SH		SOLE		20,000	0	0
ORGANON & CO	COMMON STOCK	68622V106	59,303	3,100	SH		SOLE		3,100	0	0
ORUKA THERAPEUTICS INC	COM	687604108	274,193	11,187	SH		SOLE		11,187	0	0
OVID THERAPEUTICS INC	COM	690469101	44,537	37,743	SH		SOLE		37,743	0	0
PERCEPTIVE CAP SOLUTIONS COR	CL A ORD SHS	G70077105	7,515,000	750,000	SH		SOLE		750,000	0	0
PERIMETER SOLUTIONS SA	COMMON STOCK	L7579L106	121,050	9,000	SH		SOLE		9,000	0	0
PERRIGO CO PLC	SHS	G97822103	26,230	1,000	SH		SOLE		1,000	0	0
PFIZER INC	COM	717081103	1,040,393	35,950	SH		SOLE		35,950	0	0
PHARVARIS N V	COM	N69605108	37,040	2,000	SH		SOLE		2,000	0	0
PHATHOM PHARMACEUTICALS INC	COM	71722W107	3,616	200	SH		SOLE		200	0	0
PIERIS PHARMACEUTICALS INC	COM NEW	720795202	2,398,148	144,641	SH		SOLE		144,641	0	0
PLIANT THERAPEUTICS INC	COM	729139105	2,759,095	246,128	SH		SOLE		246,128	0	0
PMV PHARMACEUTICALS INC	COM	69353Y103	150,502	101,008	SH		SOLE		101,008	0	0
POLYPID LTD	COM	M8001Q126	323,023	93,902	SH		SOLE		93,902	0	0
POWERSCHOOL HOLDINGS INC	COM CL A	73939C106	684,300	30,000	SH		SOLE		30,000	0	0
PROPERTYGURU GROUP LTD	ORD SHS	G7258M108	132,200	20,000	SH		SOLE		20,000	0	0
PROTAGONIST THERAPEUTICS INC	COM	74366E102	44,158,275	981,295	SH		SOLE		981,295	0	0
PTC THERAPEUTICS INC	COM	69366J200	742,000	20,000	SH		SOLE		20,000	0	0
PURETECH HEALTH PLC	ADS	746237106	61,845	3,000	SH		SOLE		3,000	0	0
PYXIS ONCOLOGY INC	COMMON STOCK	747324101	36,700	10,000	SH		SOLE		10,000	0	0
Q32 BIO INC	COM	746964105	2,866,612	64,245	SH		SOLE		64,245	0	0
QUINCE THERAPEUTICS INC	COM	22053A107	110,964	142,958	SH		SOLE		142,958	0	0
RALLYBIO CORP	COM	75120L100	15,561	13,300	SH		SOLE		13,300	0	0
RAPT THERAPEUTICS INC	COM	75382E109	15,075	7,500	SH		SOLE		7,500	0	0
RECURSION PHARMACEUTICALS IN	CL A	75629V104	98,850	15,000	SH		SOLE		15,000	0	0
REGENERON PHARMACEUTICALS	COM	75886F107	915,630	871	SH		SOLE		871	0	0
REGENXBIO INC	COM	75901B107	5,968,894	569,008	SH		SOLE		569,008	0	0
REGENXBIO INC	COM	75901B107	186,722	17,800	SH	Call	SOLE		0	0	0
RENOVORX INC	COM NEW	75989R107	334,104	315,192	SH		SOLE		315,192	0	0
REVANCE THERAPEUTICS INC	COM	761330109	945,442	182,166	SH		SOLE		182,166	0	0
REVOLUTION MEDICINES INC	COM	76155X100	2,011,318	44,351	SH		SOLE		44,351	0	0
REZOLUTE INC	COM NEW	76200L309	7,622,769	1,571,705	SH		SOLE		1,571,705	0	0
ROCKET PHARMACEUTICALS INC	COM	77313F106	79,421	4,300	SH		SOLE		4,300	0	0
ROIVANT SCIENCES LTD	SHS	G76279101	34,913,693	3,025,450	SH		SOLE		3,025,450	0	0
ROYALTY PHARMA PLC	SHS CLASS A	G7709Q104	31,024,681	1,096,666	SH		SOLE		1,096,666	0	0
SAGE THERAPEUTICS INC	COM	78667J108	372,913	51,650	SH		SOLE		51,650	0	0
SAGE THERAPEUTICS INC	COM	78667J108	68,590	9,500	SH	Call	SOLE		0	0	0
SAREPTA THERAPEUTICS INC	COM	803607100	886,719	7,100	SH		SOLE		7,100	0	0
SAVARA INC	COM	805111101	3,148,768	742,634	SH		SOLE		742,634	0	0
SCHOLAR ROCK HLDG CORP	COM	80706P103	96,120	12,000	SH		SOLE		12,000	0	0
SILENCE THERAPEUTICS PLC	ADS	82686Q101	732,472	40,290	SH		SOLE		40,290	0	0
SOLENO THERAPEUTICS INC	COM	834203309	504,900	10,000	SH		SOLE		10,000	0	0
SOLID BIOSCIENCES INC	COM NEW	83422E204	7,984,776	1,145,592	SH		SOLE		1,145,592	0	0
SPDR SER TR	BLOOMBERG 1-3 MO	78468R663	2,000,173	21,786	SH		SOLE		21,786	0	0
SPDR SER TR	S&P BIOTECH	78464A870	3,952,000	40,000	SH	Put	SOLE		40,000	0	0
SPERO THERAPEUTICS INC	COM	84833T103	996,235	743,459	SH		SOLE		743,459	0	0
SPRINGWORKS THERAPEUTICS INC	COM	85205L107	3,204	100	SH		SOLE		100	0	0
SPRUCE BIOSCIENCES INC	COM	85209E109	191,725	403,716	SH		SOLE		403,716	0	0
SPYRE THERAPEUTICS INC	COM NEW	00773J202	369,390	12,560	SH		SOLE		12,560	0	0
SYNDAX PHARMACEUTICALS INC	COM	87164F105	6,741,466	350,206	SH		SOLE		350,206	0	0
SYNDAX PHARMACEUTICALS INC	COM	87164F105	2,021,250	105,000	SH	Call	SOLE		0	0	0
SYROS PHARMACEUTICALS INC	COM NEW	87184Q206	96,750	45,000	SH		SOLE		45,000	0	0
TARGET HOSPITALITY CORP	COM	87615L107	511,465	65,741	SH		SOLE		65,741	0	0
TARSUS PHARMACEUTICALS INC	COM	87650L103	851,851	25,900	SH		SOLE		25,900	0	0
TARSUS PHARMACEUTICALS INC	COM	87650L103	164,450	5,000	SH	Call	SOLE		0	0	0
TAYSHA GENE THERAPIES INC	COM SHS	877619106	505,314	251,400	SH		SOLE		251,400	0	0
TECTONIC THERAPEUTIC INC	COM	878972108	3,852,918	127,159	SH		SOLE		127,159	0	0
TENAX THERAPEUTICS INC	COM NEW	88032L605	215,984	62,423	SH		SOLE		62,423	0	0
TERNS PHARMACEUTICALS INC	COM	880881107	206,015	24,702	SH		SOLE		24,702	0	0
TEVA PHARMACEUTICAL INDS LTD	SPONSORED ADS	881624209	1,949,241	108,171	SH		SOLE		108,171	0	0
TG THERAPEUTICS INC	COM	88322Q108	116,950	5,000	SH		SOLE		5,000	0	0
TG THERAPEUTICS INC	COM	88322Q108	23,390	1,000	SH	Put	SOLE		1,000	0	0
THERAPEUTICSMD INC	COM NEW	88338N206	448,466	270,160	SH		SOLE		270,160	0	0
TMT ACQUISITION CORP	SHS	G89229119	562,000	50,000	SH		SOLE		50,000	0	0
TMT ACQUISITION CORP	RIGHT 03/27/2028	G89229135	10,128	37,100	SH		SOLE		37,100	0	0
TOURMALINE BIO INC	COM	89157D105	289,495	11,260	SH		SOLE		11,260	0	0
TRIPADVISOR INC	COM	896945201	57,960	4,000	SH		SOLE		4,000	0	0
ULTRA CLEAN HLDGS INC	COM	90385V107	39,930	1,000	SH		SOLE		1,000	0	0
VAXCYTE INC	COM	92243G108	1,153,784	10,097	SH		SOLE		10,097	0	0
VENTYX BIOSCIENCES INC	COM	92332V107	213,542	97,955	SH		SOLE		97,955	0	0
VERONA PHARMA PLC	SPONSORED ADS	925050106	287,700	10,000	SH		SOLE		10,000	0	0
VERU INC	COM	92536C103	39,219	51,000	SH		SOLE		51,000	0	0
VIGIL NEUROSCIENCE INC	COM	92673K108	73,906	21,737	SH		SOLE		21,737	0	0
VIKING THERAPEUTICS INC	COM	92686J106	449,501	7,100	SH		SOLE		7,100	0	0
VIR BIOTECHNOLOGY INC	COM	92764N102	2,390,696	319,185	SH		SOLE		319,185	0	0
VIRIDIAN THERAPEUTICS INC	COM	92790C104	209,436	9,206	SH		SOLE		9,206	0	0
VISTAGEN THERAPEUTICS INC	COM	92840H400	490,865	163,078	SH		SOLE		163,078	0	0
VOYAGER THERAPEUTICS INC	COM	92915B106	237,709	40,634	SH		SOLE		40,634	0	0
VYNE THERAPEUTICS INC	COM	92941V308	287,386	152,865	SH		SOLE		152,865	0	0
WEST PHARMACEUTICAL SVSC INC	COM	955306105	60,032	200	SH		SOLE		200	0	0
WISDOMTREE TR	FLOATNG RAT TREA	97717Y527	502,200	10,000	SH		SOLE		10,000	0	0
XENCOR INC	COM	98401F105	6,882,889	342,262	SH		SOLE		342,262	0	0
XENON PHARMACEUTICALS INC	COM	98420N105	1,098,541	27,903	SH		SOLE		27,903	0	0
ZAI LAB LTD	ADR	98887Q104	12,853,440	532,454	SH		SOLE		532,454	0	0
ZURA BIO LTD	CLASS A ORD SHS	G9TY5A101	15,308,835	3,770,649	SH		SOLE		3,770,649	0	0

ADAR1 Capital Management 13F-HRQuarterly holdings report by institutional manager