# Opaleye Management Inc.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1595855. Source: https://holderbook.com/funds/1595855-opaleye-management-inc/

- Reported value: $1.1B
- Positions: 58
- Weight of the ten largest: 64.8%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| LIQUIDIA CORPORATION | [LQDA](https://holderbook.com/stocks/LQDA/) | $195.1M | 2,447,500 | 17.7% | 19 |
| ETON PHARMACEUTICALS INC | [ETON](https://holderbook.com/stocks/ETON/) | $103.5M | 2,860,000 | 9.4% | 31 |
| HARROW INC | [HROW](https://holderbook.com/stocks/HROW/) | $101.9M | 2,400,000 | 9.2% | 25 |
| DISC MEDICINE INC | [IRON](https://holderbook.com/stocks/IRON/) | $62.5M | 855,000 | 5.7% | 6 |
| UROGEN PHARMA LTD | [URGN](https://holderbook.com/stocks/URGN/) | $53.0M | 1,439,996 | 4.8% | 3 |
| APOGEE THERAPEUTICS INC | [APGE](https://holderbook.com/stocks/APGE/) | $51.8M | 390,000 | 4.7% | 4 |
| MEIRAGTX HLDGS PLC | [MGTX](https://holderbook.com/stocks/MGTX/) | $48.0M | 3,550,000 | 4.3% | 3 |
| SOL-GEL TECHNOLOGIES LTD | [SLGL](https://holderbook.com/stocks/SLGL/) | $37.1M | 500,000 | 3.4% | 4 |
| REZOLUTE INC | [RZLT](https://holderbook.com/stocks/RZLT/) | $32.8M | 6,300,000 | 3.0% | 8 |
| TG THERAPEUTICS INC | [TGTX](https://holderbook.com/stocks/TGTX/) | $29.4M | 535,000 | 2.7% | 12 |
| IMMIX BIOPHARMA INC | [IMMX](https://holderbook.com/stocks/IMMX/) | $24.2M | 2,345,000 | 2.2% | 1 |
| CRESCENT BIOPHARMA INC. | [CBIO](https://holderbook.com/stocks/CBIO/) | $23.7M | 1,319,351 | 2.2% | 3 |
| STOKE THERAPEUTICS INC | [STOK](https://holderbook.com/stocks/STOK/) | $22.9M | 700,000 | 2.1% | 7 |
| ALPHA COGNITION INC | [ACOG](https://holderbook.com/stocks/ACOG/) | $20.9M | 2,895,467 | 1.9% | 4 |
| EDGEWISE THERAPEUTICS INC | [EWTX](https://holderbook.com/stocks/EWTX/) | $20.3M | 500,000 | 1.8% | 18 |
| REVOLUTION MEDICINES INC | [RVMD](https://holderbook.com/stocks/RVMD/) | $18.7M | 100,000 | 1.7% | 5 |
| MONTE ROSA THERAPEUTICS INC | [GLUE](https://holderbook.com/stocks/GLUE/) | $18.0M | 745,000 | 1.6% | 1 |
| ALUMIS INC | [ALMS](https://holderbook.com/stocks/ALMS/) | $15.5M | 550,000 | 1.4% | 5 |
| CODEXIS INC | [CDXS](https://holderbook.com/stocks/CDXS/) | $15.3M | 6,785,000 | 1.4% | 31 |
| REPLIMUNE GROUP INC | [REPL](https://holderbook.com/stocks/REPL/) | $15.3M | 1,384,993 | 1.4% | 1 |
| XOMA ROYALTY CORPORATION | [XOMA](https://holderbook.com/stocks/XOMA/) | $14.4M | 338,374 | 1.3% | 31 |
| MBX BIOSCIENCES INC | [MBX](https://holderbook.com/stocks/MBX/) | $14.4M | 260,000 | 1.3% | 6 |
| RHYTHM PHARMACEUTICALS INC | [RYTM](https://holderbook.com/stocks/RYTM/) | $13.6M | 122,500 | 1.2% | 17 |
| EDITAS MEDICINE INC | [EDIT](https://holderbook.com/stocks/EDIT/) | $12.5M | 3,861,930 | 1.1% | 2 |
| PROTAGONIST THERAPEUTICS INC | [PTGX](https://holderbook.com/stocks/PTGX/) | $12.3M | 100,000 | 1.1% | 11 |
| CABALETTA BIO INC | [CABA](https://holderbook.com/stocks/CABA/) | $12.0M | 3,863,800 | 1.1% | 4 |
| Q32 BIO INC | [QTTB](https://holderbook.com/stocks/QTTB/) | $11.9M | 931,000 | 1.1% | 3 |
| ANNEXON INC | [ANNX](https://holderbook.com/stocks/ANNX/) | $9.8M | 1,714,451 | 0.9% | 4 |
| VERASTEM INC | [VSTM](https://holderbook.com/stocks/VSTM/) | $6.9M | 1,800,000 | 0.6% | 1 |
| ZENTALIS PHARMACEUTICALS INC | [ZNTL](https://holderbook.com/stocks/ZNTL/) | $6.9M | 1,412,656 | 0.6% | 8 |
| RELMADA THERAPEUTICS INC | [RLMD](https://holderbook.com/stocks/RLMD/) | $6.5M | 935,000 | 0.6% | 3 |
| OCULAR THERAPEUTIX INC | [OCUL](https://holderbook.com/stocks/OCUL/) | $5.9M | 600,000 | 0.5% | 30 |
| TREVI THERAPEUTICS INC | [TRVI](https://holderbook.com/stocks/TRVI/) | $5.8M | 310,000 | 0.5% | 15 |
| BRIDGEBIO ONCOLOGY THERAPEUT | [BBOT](https://holderbook.com/stocks/BBOT/) | $5.3M | 700,000 | 0.5% | 2 |
| LYELL IMMUNOPHARMA INC | [LYEL](https://holderbook.com/stocks/LYEL/) | $4.8M | 344,025 | 0.4% | 2 |
| OPUS GENETICS INC | [IRD](https://holderbook.com/stocks/IRD/) | $4.6M | 1,125,000 | 0.4% | 6 |
| 4D MOLECULAR THERAPEUTICS IN | [FDMT](https://holderbook.com/stocks/FDMT/) | $4.4M | 334,437 | 0.4% | 2 |
| INTELLIA THERAPEUTICS INC | [NTLA](https://holderbook.com/stocks/NTLA/) | $4.2M | 250,000 | 0.4% | 2 |
| VOYAGER THERAPEUTICS INC | [VYGR](https://holderbook.com/stocks/VYGR/) | $4.1M | 1,185,000 | 0.4% | 3 |
| BIODESIX INC | [BDSX](https://holderbook.com/stocks/BDSX/) | $4.1M | 180,000 | 0.4% | 2 |
| ROCKET PHARMACEUTICALS INC | [RCKT](https://holderbook.com/stocks/RCKT/) | $3.4M | 1,000,000 | 0.3% | 3 |
| JADE BIOSCIENCES INC | [JBIO](https://holderbook.com/stocks/JBIO/) | $3.2M | 145,000 | 0.3% | 3 |
| SANUWAVE HEALTH INC | [SNWV](https://holderbook.com/stocks/SNWV/) | $3.1M | 306,140 | 0.3% | 6 |
| FORTRESS BIOTECH INC | [FBIO](https://holderbook.com/stocks/FBIO/) | $2.7M | 890,000 | 0.2% | 3 |
| JOURNEY MED CORP | [DERM](https://holderbook.com/stocks/DERM/) | $2.5M | 350,000 | 0.2% | 6 |
| PHATHOM PHARMACEUTICALS INC | [PHAT](https://holderbook.com/stocks/PHAT/) | $2.0M | 185,589 | 0.2% | 1 |
| INHIBRX BIOSCIENCES INC | [INBX](https://holderbook.com/stocks/INBX/) | $1.9M | 20,291 | 0.2% | 1 |
| ENANTA PHARMACEUTICALS INC | [ENTA](https://holderbook.com/stocks/ENTA/) | $1.8M | 125,000 | 0.2% | 3 |
| HEMAB THERAPEUTICS HLDGS INC | - | $1.8M | 47,652 | 0.2% | 1 |
| FIRST TRACKS BIOTHERAPEUTICS | [TRAX](https://holderbook.com/stocks/TRAX/) | $1.3M | 65,000 | 0.1% | 1 |
| CG ONCOLOGY INC | [CGON](https://holderbook.com/stocks/CGON/) | $1.3M | 17,789 | 0.1% | 6 |
| BIOHAVEN LTD | [BHVN](https://holderbook.com/stocks/BHVN/) | $1.2M | 77,915 | 0.1% | 1 |
| ATEA PHARMACEUTICALS INC | [AVIR](https://holderbook.com/stocks/AVIR/) | $1.1M | 235,000 | 0.1% | 3 |
| PASITHEA THERAPEUTICS CORP | [KTTA](https://holderbook.com/stocks/KTTA/) | $1.1M | 2,050,000 | 0.1% | 1 |
| ADC THERAPEUTICS SA | [ADCT](https://holderbook.com/stocks/ADCT/) | $749.0K | 700,000 | 0.1% | 1 |
| OKYO PHARMA LTD | [OKYO](https://holderbook.com/stocks/OKYO/) | $562.8K | 375,204 | 0.1% | 1 |
| PALATIN TECHNOLOGIES INC | [PTN](https://holderbook.com/stocks/PTN/) | $221.2K | 20,500 | 0.0% | 1 |
| ADAGIO MED HLDGS INC | [ADGM](https://holderbook.com/stocks/ADGM/) | $13.4K | 18,444 | 0.0% | 8 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +40.5% | +14.8% | +25.6% | 97% |
| Q1 2026 | +1.3% | -4.6% | +5.9% | 99% |
| Q4 2025 | +11.2% | +2.4% | +8.8% | 100% |
| Q3 2025 | +40.3% | +7.8% | +32.5% | 96% |
| Q2 2025 | +6.4% | +10.5% | -4.0% | 96% |
| Q1 2025 | -16.5% | -4.6% | -11.9% | 98% |
| Q4 2024 | -5.9% | +2.1% | -8.1% | 98% |
| Q3 2024 | +35.1% | +5.4% | +29.6% | 98% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.1B | 58 |
| Q1 2026 | $759.2M | 54 |
| Q4 2025 | $757.9M | 54 |
| Q3 2025 | $707.3M | 43 |
| Q2 2025 | $494.1M | 41 |
| Q1 2025 | $449.2M | 45 |
| Q4 2024 | $571.4M | 39 |
| Q3 2024 | $599.6M | 44 |
| Q2 2024 | $437.7M | 51 |
| Q1 2024 | $458.9M | 52 |
| Q4 2023 | $376.1M | 46 |
| Q3 2023 | $307.4M | 40 |