Filed: 5/15/2025ACC: 0001214659-25-007882
📋 What this filing means
TANG CAPITAL MANAGEMENT LLC filed this quarterly 13F‑HR report disclosing 202 equity positions with a total reported market value of $1.81B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
202
Positions
$1.81B
Total AUM (reported)
238.92M
Total Shares
Allocation by class
COM$1.18B65.5%
COM NEW$185.61M10.3%
SPON ADR$99.52M5.5%
SPONSORED ADS$80.71M4.5%
ADS$56.84M3.1%
SPONSORED ADR$48.85M2.7%
ORD SHS CL A$47.05M2.6%
Portfolio Concentration
Top 3$306.26M16.9%
4–10$402.31M22.3%
11–25$386.19M21.4%
Rest$712.82M39.4%
Top 3 weight
16.9%
Top 10 weight
39.2%
Voting Authority Distribution
Total shares with voting rights: 238.92M
Sole
Full voting authority
0.00
shares
% of voting shares0.0%
Shared
Joint voting authority
238.92M
shares
% of voting shares100.0%
None
No voting authority
2.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole0
Shared0
Other202
Dominant voting typeShared · 100.0% of voting shares
Institutional Holdings202
Rows:
TARSUS PHARMACEUTICALS INC
OTRShares2.45M
TypeSH
Market value$126.10M
6.98%
Sole
0.00
Shared
2.45M
None
0.00
GALAPAGOS NV
OTRShares3.96M
TypeSH
Market value$99.52M
5.51%
Sole
0.00
Shared
3.96M
None
0.00
AURINIA PHARMACEUTICALS INC
OTRShares10.03M
TypeSH
Market value$80.64M
4.46%
Sole
0.00
Shared
10.03M
None
0.00
DYNAVAX TECHNOLOGIES CORP
OTRShares5.75M
TypeSH
Market value$74.58M
4.13%
Sole
0.00
Shared
5.75M
None
0.00
EVOLUS INC
OTRShares5M
TypeSH
Market value$60.12M
3.33%
Sole
0.00
Shared
5M
None
0.00
KALVISTA PHARMACEUTICALS INC
OTRShares4.94M
TypeSH
Market value$57.03M
3.15%
Sole
0.00
Shared
4.94M
None
0.00
IMMUNOCORE HLDGS PLC
OTRShares1.92M
TypeSH
Market value$56.84M
3.14%
Sole
0.00
Shared
1.92M
None
0.00
MIRUM PHARMACEUTICALS INC
OTRShares1.24M
TypeSH
Market value$55.73M
3.08%
Sole
0.00
Shared
1.24M
None
0.00
PTC THERAPEUTICS INC
OTRShares1M
TypeSH
Market value$50.96M
2.82%
Sole
0.00
Shared
1M
None
0.00
KINIKSA PHARMACEUTICALS INTL
OTRShares2.12M
TypeSH
Market value$47.05M
2.60%
Sole
0.00
Shared
2.12M
None
0.00
VIRIDIAN THERAPEUTICS INC
OTRShares2.79M
TypeSH
Market value$37.65M
2.08%
Sole
0.00
Shared
2.79M
None
0.00
SPYRE THERAPEUTICS INC
OTRShares2.05M
TypeSH
Market value$33.08M
1.83%
Sole
0.00
Shared
2.05M
None
0.00
INTRA-CELLULAR THERAPIES INC
OTRShares220K
TypeSH
Market value$29.02M
1.61%
Sole
0.00
Shared
220K
None
0.00
ANAPTYSBIO INC
OTRShares1.55M
TypeSH
Market value$28.72M
1.59%
Sole
0.00
Shared
1.55M
None
0.00
REPLIMUNE GROUP INC
OTRShares2.90M
TypeSH
Market value$28.27M
1.56%
Sole
0.00
Shared
2.90M
None
0.00
LEGEND BIOTECH CORP
OTRShares830K
TypeSH
Market value$28.16M
1.56%
Sole
0.00
Shared
830K
None
0.00
ACADIA PHARMACEUTICALS INC
OTRShares1.50M
TypeSH
Market value$24.91M
1.38%
Sole
0.00
Shared
1.50M
None
0.00
BIONTECH SE
OTRShares270K
TypeSH
Market value$24.59M
1.36%
Sole
0.00
Shared
270K
None
0.00
ACELYRIN INC
OTRShares9.82M
TypeSH
Market value$24.25M
1.34%
Sole
0.00
Shared
9.82M
None
0.00
JAZZ PHARMACEUTICALS PLC
OTRShares190K
TypeSH
Market value$23.59M
1.30%
Sole
0.00
Shared
190K
None
0.00
ANI PHARMACEUTICALS INC
OTRShares317.50K
TypeSH
Market value$21.26M
1.18%
Sole
0.00
Shared
317.50K
None
0.00
RELAY THERAPEUTICS INC
OTRShares8.07M
TypeSH
Market value$21.14M
1.17%
Sole
0.00
Shared
8.07M
None
0.00
COMPASS THERAPEUTICS INC
OTRShares11.05M
TypeSH
Market value$21.00M
1.16%
Sole
0.00
Shared
11.05M
None
0.00
ADMA BIOLOGICS INC
OTRShares1.05M
TypeSH
Market value$20.83M
1.15%
Sole
0.00
Shared
1.05M
None
0.00
LENZ THERAPEUTICS INC
OTRShares766.94K
TypeSH
Market value$19.72M
1.09%
Sole
0.00
Shared
766.94K
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
TARSUS PHARMACEUTICALS INCOTR | COM | 2.45M | SH | $126.10M 6.98% | 0.00 | 2.45M | 0.00 |
GALAPAGOS NVOTR | SPON ADR | 3.96M | SH | $99.52M 5.51% | 0.00 | 3.96M | 0.00 |
AURINIA PHARMACEUTICALS INCOTR | COM | 10.03M | SH | $80.64M 4.46% | 0.00 | 10.03M | 0.00 |
DYNAVAX TECHNOLOGIES CORPOTR | COM NEW | 5.75M | SH | $74.58M 4.13% | 0.00 | 5.75M | 0.00 |
EVOLUS INCOTR | COM | 5M | SH | $60.12M 3.33% | 0.00 | 5M | 0.00 |
KALVISTA PHARMACEUTICALS INCOTR | COM | 4.94M | SH | $57.03M 3.15% | 0.00 | 4.94M | 0.00 |
IMMUNOCORE HLDGS PLCOTR | ADS | 1.92M | SH | $56.84M 3.14% | 0.00 | 1.92M | 0.00 |
MIRUM PHARMACEUTICALS INCOTR | COM | 1.24M | SH | $55.73M 3.08% | 0.00 | 1.24M | 0.00 |
PTC THERAPEUTICS INCOTR | COM | 1M | SH | $50.96M 2.82% | 0.00 | 1M | 0.00 |
KINIKSA PHARMACEUTICALS INTLOTR | ORD SHS CL A | 2.12M | SH | $47.05M 2.60% | 0.00 | 2.12M | 0.00 |
VIRIDIAN THERAPEUTICS INCOTR | COM | 2.79M | SH | $37.65M 2.08% | 0.00 | 2.79M | 0.00 |
SPYRE THERAPEUTICS INCOTR | COM NEW | 2.05M | SH | $33.08M 1.83% | 0.00 | 2.05M | 0.00 |
INTRA-CELLULAR THERAPIES INCOTR | COM | 220K | SH | $29.02M 1.61% | 0.00 | 220K | 0.00 |
ANAPTYSBIO INCOTR | COM | 1.55M | SH | $28.72M 1.59% | 0.00 | 1.55M | 0.00 |
REPLIMUNE GROUP INCOTR | COM | 2.90M | SH | $28.27M 1.56% | 0.00 | 2.90M | 0.00 |
LEGEND BIOTECH CORPOTR | SPONSORED ADS | 830K | SH | $28.16M 1.56% | 0.00 | 830K | 0.00 |
ACADIA PHARMACEUTICALS INCOTR | COM | 1.50M | SH | $24.91M 1.38% | 0.00 | 1.50M | 0.00 |
BIONTECH SEOTR | SPONSORED ADS | 270K | SH | $24.59M 1.36% | 0.00 | 270K | 0.00 |
ACELYRIN INCOTR | COM | 9.82M | SH | $24.25M 1.34% | 0.00 | 9.82M | 0.00 |
JAZZ PHARMACEUTICALS PLCOTR | SHS USD | 190K | SH | $23.59M 1.30% | 0.00 | 190K | 0.00 |
ANI PHARMACEUTICALS INCOTR | COM | 317.50K | SH | $21.26M 1.18% | 0.00 | 317.50K | 0.00 |
RELAY THERAPEUTICS INCOTR | COM | 8.07M | SH | $21.14M 1.17% | 0.00 | 8.07M | 0.00 |
COMPASS THERAPEUTICS INCOTR | COM | 11.05M | SH | $21.00M 1.16% | 0.00 | 11.05M | 0.00 |
ADMA BIOLOGICS INCOTR | COM | 1.05M | SH | $20.83M 1.15% | 0.00 | 1.05M | 0.00 |
LENZ THERAPEUTICS INCOTR | COM | 766.94K | SH | $19.72M 1.09% | 0.00 | 766.94K | 0.00 |
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