SC

Stonepine Capital Management, LLC

High-turnover traderSector-focusedContrarian

Total reported value

$249.7M

Reporting period: 2026-03-31 · Number of holdings: 83

Stonepine Capital Management, LLC disclosed 83 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $249.7M and a quarterly turnover rate of 105.9%.

Personality snowflake

Concentration
74.44
Portfolio Stability
100
Momentum/Contrarian
0
Sector conviction
100
Diversification
100
Sizing Uniformity
64.54

Recent moves

  • Trim VSTM

    +20.9%　-$3.6M

  • Add TENX

    +8106.0%　$15.4M

  • Trim EOLS

    +33.6%　-$1.9M

  • Trim ADMA

    +155.4%　$3.5M

  • Trim IKT

    -59.2%　-$3.2M

  • Trim ABEO

    -6.9%　-$1.0M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

Showing top 72 holdings (of 83 total)

#TickerIssuerAsset SubclassWeightWeight ChangeShares Change4Q Trend
1XBISs Spdr S&p Biotech ETFETF-Tech40.92%+40.92%NEW
2VSTMVerastem INCStock-Other7.01%-8.39%+20.87%
3ADMAAdma Biologics INCStock-Healthcare6.82%-3.03%+155.41%
4TENXTenax Therapeutics INCStock-Other6.24%+6.13%+8105.99%
5EOLSEvolus INCStock-Other3.59%-4.33%+33.56%
6CAMPCamp4 Therapeutics CORPStock-Other2.45%+1.43%+507.10%
7NKTRNektar TherapeuticsStock-Other2.45%—-37.04%
8430Terns Pharmaceuticals INCStock-Other2.11%+2.11%NEW
9ZVRAZevra Therapeutics INCStock-Other1.79%-1.93%-15.65%
10ABEOAbeona Therapeutics INCStock-Other1.52%-1.98%-6.92%
11CRBPCorbus Pharmaceuticals HoldiStock-Other1.44%—-1.66%
12✓ Establishment Labs Hldgs INCStock-Other1.27%+1.27%NEW
13KZIAKazia Therapeutics-spon AdrStock-Other1.03%-1.29%-25.02%
14ANTXAn2 Therapeutics INCStock-Other0.98%+0.46%+13.73%
15AREAlexandria Real Estate EquitStock-Real Estate0.93%——
16ACADAcadia Pharmaceuticals INCStock-Healthcare0.89%——
17✓ Stock-Other0.88%+0.88%NEW
18XOMAXoma Royalty CorporationStock-Other0.87%-1.36%-39.57%
19AYTUAytu Biopharma INCStock-Other0.87%—-2.63%
20CRISCuris INCStock-Other0.82%+0.78%+6178.80%
21HRTXHeron Therapeutics INCStock-Other0.77%—+94.07%
22CTMXCytomx Therapeutics INCStock-Other0.75%+0.75%NEW
23XERSXeris Biopharma Holdings INCStock-Other0.74%+0.74%NEW
24TELATela Bio INCStock-Other0.65%-1.38%+11.28%
25IKTInhibikase Therapeutics INCStock-Other0.64%-2.87%-59.24%
26✓ Crescent Biopharma INC.Stock-Other0.63%—-3.06%
27ACETAdicet Bio INCStock-Other0.61%—+0.88%
28SIBNSi-bone INCStock-Other0.58%+0.58%NEW
29XFORX4 Pharmaceuticals INCStock-Other0.55%-1.18%-43.51%
30✓ Okyo Pharma LTDStock-Other0.55%+0.55%NEW
31MNKDMannkind CORPStock-Other0.51%+0.15%+497.85%
32NMRANeumora Therapeutics INCStock-Other0.47%+0.47%NEW
33LUNGPulmonx CORPStock-Other0.40%—+57.95%
34INABIn8bio INCStock-Other0.39%+0.11%+302.33%
35SRZNSurrozen INCStock-Other0.39%-1.49%-70.95%
36DCTHDelcath Systems INCStock-Other0.37%+0.17%+267.21%
37ARDXArdelyx INCStock-Other0.36%+0.36%NEW
38PMVPPmv Pharmaceuticals INCStock-Other0.35%-0.70%-38.47%
39BIOABioage Labs INCStock-Other0.35%—+11.11%
40✓ Connect Biopharma Hldgs LTDStock-Other0.33%+0.33%NEW
41RADXRadiopharm Theranostics LTDStock-Other0.30%——
42MXCTMaxcyte INCStock-Other0.28%—+114.21%
43CDXSCodexis INCStock-Other0.27%—+63.21%
44BOLDBoundless Bio INCStock-Other0.26%—-15.83%
45HELPCybin INCStock-Other0.26%-1.77%-60.56%
46ZNTLZentalis Pharmaceuticals INCStock-Other0.25%—-41.97%
47KTTAPasithea Therapeutics CORPStock-Other0.25%—+202.22%
48MSLESatellos Bioscience INCStock-Other0.23%+0.23%NEW
49PHATPhathom Pharmaceuticals INCStock-Other0.22%+0.22%NEW
50OKUROnkure Therapeutics Inc-aStock-Other0.22%+0.22%NEW
1–50 of 72

Holding changes this quarter

Stonepine Capital Management, LLC's most significant position changes for 2026-03-31: New buy: Ss Spdr S&p Biotech ETF (XBI); New buy: Terns Pharmaceuticals INC (430); Sold out: Indivior Pharmaceuticals, Inc. (INDV); New buy: Establishment Labs Hldgs INC; Sold out: CRISPR Therapeutics AG (CRSP).

Position changes disclosed by Stonepine Capital Management, LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#TickerIssuerWeight ChangeShares ChangeAction
1TENXTenax Therapeutics INC+6.1%+8105.99%Add
2CAMPCamp4 Therapeutics CORP+1.4%+507.10%Add
3CRISCuris INC+0.8%+6178.80%Add
4ANTXAn2 Therapeutics INC+0.5%+13.73%Add
5DCTHDelcath Systems INC+0.2%+267.21%Add
6MNKDMannkind CORP+0.2%+497.85%Add
7INABIn8bio INC+0.1%+302.33%Add
8EDSAEdesa Biotech INC-0.7%-95.64%Trim
9QNRXQuoin Pharmaceuticals Lt-adr-0.7%-31.63%Trim
10PMVPPmv Pharmaceuticals INC-0.7%-38.47%Trim
11OABIOmniab INC-0.9%-76.60%Trim
12ELDNEledon Pharmaceuticals INC-0.9%-96.08%Trim
13XFORX4 Pharmaceuticals INC-1.2%-43.51%Trim
14KZIAKazia Therapeutics-spon Adr-1.3%-25.02%Trim
15XOMAXoma Royalty Corporation-1.4%-39.57%Trim
16TELATela Bio INC-1.4%+11.28%Add
17SRZNSurrozen INC-1.5%-70.95%Trim
18HELPCybin INC-1.8%-60.56%Trim
19ZVRAZevra Therapeutics INC-1.9%-15.65%Trim
20VRCAVerrica Pharmaceuticals INC-1.9%-71.80%Trim
21ABEOAbeona Therapeutics INC-2%-6.92%Trim
22IKTInhibikase Therapeutics INC-2.9%-59.24%Trim
23ADMAAdma Biologics INC-3%+155.41%Add
24EOLSEvolus INC-4.3%+33.56%Add
25VSTMVerastem INC-8.4%+20.87%Add
26XBISs Spdr S&p Biotech ETF—NEWNew buy
27430Terns Pharmaceuticals INC—NEWNew buy
28INDVIndivior Pharmaceuticals, Inc.—EXITSold out
29✓ Establishment Labs Hldgs INC—NEWNew buy
30CRSPCRISPR Therapeutics AG—EXITSold out
31RAREUltragenyx Pharmaceutical In—EXITSold out
32✓ —NEWNew buy
33CTMXCytomx Therapeutics INC—NEWNew buy
34DAWNGBXDay One Biopharmaceuticals I—EXITSold out
35XERSXeris Biopharma Holdings INC—NEWNew buy
36SPRBSpruce Biosciences INC—EXITSold out
37ENTAEnanta Pharmaceuticals INC—EXITSold out
38SIBNSi-bone INC—NEWNew buy
39✓ Okyo Pharma LTD—NEWNew buy
40MISTMilestone Pharmaceuticals In—EXITSold out
41NMRANeumora Therapeutics INC—NEWNew buy
42GERNGeron CORP—EXITSold out
432KZ0Kezar Life Sciences INC—EXITSold out
44ARDXArdelyx INC—NEWNew buy
45✓ Connect Biopharma Hldgs LTD—NEWNew buy
46SMLRSemler Scientific INC—EXITSold out
47GOSSGossamer Bio INC—EXITSold out
48MSLESatellos Bioscience INC—NEWNew buy
49PHATPhathom Pharmaceuticals INC—NEWNew buy
50OKUROnkure Therapeutics Inc-a—NEWNew buy

FAQ

What is Stonepine Capital Management, LLC and what type of investor is it?
Stonepine Capital Management, LLC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $249.7M, spread across 83 disclosed positions.
What are Stonepine Capital Management, LLC's largest equity positions?
Based on the latest 13F filing, Stonepine Capital Management, LLC's top holdings by market value are: 1. Ss Spdr S&p Biotech ETF (XBI) — $102.2M (40.9%) 2. Verastem INC (VSTM) — $17.5M (7.0%) 3. Adma Biologics INC (ADMA) — $17.0M (6.8%) 4. Tenax Therapeutics INC (TENX) — $15.6M (6.2%) 5. Evolus INC (EOLS) — $9.0M (3.6%)
What changes did Stonepine Capital Management, LLC make in its most recent portfolio filing?
In the latest reported quarter, Stonepine Capital Management, LLC made 50 notable position adjustments: 14 new positions were initiated, 11 existing holdings were added to, 14 positions were partially reduced, and 11 were completely exited. The largest of these moves: New buy: Ss Spdr S&p Biotech ETF (XBI); New buy: Terns Pharmaceuticals INC (430); Sold out: Indivior Pharmaceuticals, Inc. (INDV); New buy: Establishment Labs Hldgs INC; Sold out: CRISPR Therapeutics AG (CRSP)
What sectors does Stonepine Capital Management, LLC focus on?
Stonepine Capital Management, LLC is concentrated in the following sectors based on its current disclosed equity portfolio: • Health Care: 89.2% • Real Estate: 10.8%