Caligan Partners LP
NEW YORK, NY · CIK 1727492 · 13F filing filed 2026-08-14
SEC-registered investment adviser since 2018 · limited partnership
- Assets managed$1.3bn
- Staff5 · 3 in investment roles
- Main clients (by assets)Private funds 100%
- Private funds3 (3 hedge) · $987.6m gross assets
- Websitecaliganpartners.com
- Form ADV · 2026-05-29SEC adviser record
- Legal entityCALIGAN PARTNERS LP (US)
Options: 3 call positions ($53.0m notional), 0 put positions (— notional) – listed below, not included above.
Holdings, Q2 2026
The small lines show how much was held over the last 4 quarters (adjusted for stock splits).
| Security | Value | Change |
|---|---|---|
| LIQUIDIA CORPORATION LQDA | $647.3m31.23% | Unchanged |
| REVOLUTION MEDICINES INC RVMD | $367.4m17.73% | Added +309.0k |
| ABIVAX SA ABVX | $207.6m10.02% | Added +96.0k |
| VAXCYTE INC PCVX | $127.2m6.14% | Added +127.9k |
| EXELIXIS INC EXEL | $84.5m4.08% | Unchanged |
| TANGO THERAPEUTICS INC TNGX | $78.2m3.77% | Added +91.3k |
| AVALO THERAPEUTICS INC AVTX | $58.5m2.82% | Added +1.5m |
| XENON PHARMACEUTICALS INC XENE | $53.7m2.59% | Reduced -503.1k |
| ADMA BIOLOGICS INC ADMA | $47.9m2.31% | Added +968.5k |
| LB PHARMACEUTICALS INC LBRX | $46.7m2.25% | Unchanged |
| IMMUNOCORE HLDGS PLC IMCR | $43.9m2.12% | New |
| VIRIDIAN THERAPEUTICS INC VRDN | $40.3m1.94% | New |
| VOR BIOPHARMA INC VOR | $35.4m1.71% | Unchanged |
| SAB BIOTHERAPEUTICS INC SABS | $31.1m1.50% | Unchanged |
| INVENTIVA SA IVA | $30.9m1.49% | Added +3.2m |
| AURA BIOSCIENCES INC AURA | $30.5m1.47% | Added +4.1m |
| TYRA BIOSCIENCES INC TYRA | $25.8m1.24% | Reduced -470.0k |
| OPUS GENETICS INC IRD | $25.0m1.21% | Added +2.1k |
| ANIKA THERAPEUTICS INC ANIK | $21.0m1.01% | Unchanged |
| SAGIMET BIOSCIENCES INC SGMT | $19.3m0.93% | New |
| ARTIVA BIOTHERAPEUTICS INC ARTV | $16.8m0.81% | New |
| FAETH THERAPEUTICS INC FTH | $15.7m0.76% | Added +503.5k |
| MBX BIOSCIENCES INC MBX | $11.0m0.53% | Reduced -648.6k |
| VERRICA PHARMACEUTICALS INC VRCA | $5.7m0.27% | Unchanged |
| CELLECTAR BIOSCIENCES INC CLRB | $1.3m0.06% | New |
Sold out since Q1 2026
| Security | Value then |
|---|---|
| MINERALYS THERAPEUTICS INC MLYS | $75.1m2.8m shares |
| SPYRE THERAPEUTICS INC SYRE | $44.3m878.1k shares |
| MAZE THERAPEUTICS INC MAZE | $18.4m615.0k shares |
| XILIO THERAPEUTICS INC XLO | $943.0k112.1k shares |
Options (notional value)
| Underlying | Notional | Change |
|---|---|---|
| REVOLUTION MEDICINES INC RVMD · Call | $47.2m251.8k shares | Added |
| AGIOS PHARMACEUTICALS INC AGIO · Call | $3.3m90.0k shares | Unchanged |
| ADMA BIOLOGICS INC ADMA · Call | $2.5m300.0k shares | Unchanged |
Stakes above 5%
Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.
| Company | Stake |
|---|---|
| VERRICA PHARMACEUTICALS INC VRCA · 13D · filed 2025-12-30 | 10.0%≈ $11.6m |
| VERRICA PHARMACEUTICALS INC 13G · filed 2025-02-12 | 10.0% |
| ANIKA THERAPEUTICS INC ANIK · 13D · filed 2026-01-27 | 9.9%≈ $21.0m |
| SAB BIOTHERAPEUTICS INC SABS · 13G · filed 2026-08-14 | 8.8%≈ $31.1m |
| OPUS GENETICS INC IRD · 13G · filed 2026-08-14 | 7.3%≈ $25.0m |
| CELLECTAR BIOSCIENCES INC CLRB · 13G · filed 2026-08-14 | 5.9%≈ $1.3m |
| AVALO THERAPEUTICS INC AVTX · 13G · filed 2026-08-14 | 5.9%≈ $58.5m |
| LB PHARMACEUTICALS INC LBRX · 13G · filed 2026-05-15 | 5.0%≈ $46.7m |
Trades reported as a company insider since 1 Apr 2026
Owning 10% or more of a company, or having someone on its board, makes this manager an insider there: it reports its trades in that company's shares on Form 4 within two business days. Open-market and private purchases and sales only.
| Date | Company | Trade | Value |
|---|---|---|---|
| 2026-05-19 | LIQUIDIA CORPORATION Director · See footnote | Bought | $317.9k5.3k shares |
| 2026-05-19 | LIQUIDIA CORPORATION Director · See footnote | Sold | $317.9k5.3k shares |