Paradigm Biocapital Advisors LP

NEW YORK, NY · CIK 1855655 · 13F filing filed 2026-05-15

SEC-registered investment adviser since 2021 · limited partnership

Assets managed$4.5bn
Staff11 · 6 in investment roles
Main clients (by assets)Private funds 90%
Private funds2 (2 hedge) · $4.1bn gross assets
Form ADV · 2026-08-27SEC adviser record

Legal entityPARADIGM BIOCAPITAL ADVISORS LP (US)

$4.9bn reported value +31.0% vs Q4 2025

35positions

67.6%in top 10

10 new 13 added 7 reduced 4 sold out vs Q4 2025

Holdings, Q1 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	ARCELLX INC COMMON STOCK ACLX	ACLX	5,774,016	$663.0m13.55%	13.55%	Added +50.0k	+50,000 0.9%
2	REVOLUTION MEDICINES INC COM RVMD	RVMD	6,655,703	$647.3m13.23%	13.23%	Added +11.3k	+11,300 0.2%
3	NUVALENT INC COM COM		5,324,433	$545.5m11.15%	11.15%	Added +55.0k	+55,000 1.0%
4	VAXCYTE INC COM PCVX	PCVX	4,793,020	$278.5m5.69%	5.69%	Added +725.0k	+725,000 17.8%
5	EDGEWISE THERAPEUTICS INC COM EWTX	EWTX	7,365,038	$232.0m4.74%	4.74%	Added +823.8k	+823,828 12.6%
6	GENMAB A/S SPONSORED ADS GMAB	GMAB	7,967,836	$213.8m4.37%	4.37%	Added +928.0k	+928,002 13.2%
7	INSMED INC COM PAR $.01 INSM	INSM	1,254,488	$205.1m4.19%	4.19%	New
8	TARSUS PHARMACEUTICALS INC COM TARS	TARS	2,562,154	$179.7m3.67%	3.67%	Unchanged
9	BELITE BIO INC SPONSORED ADS BLTE	BLTE	1,114,784	$177.7m3.63%	3.63%	New
10	ERASCA INC COM ERAS	ERAS	10,392,702	$168.2m3.44%	3.44%	Reduced -3.8m	-3,766,393 -26.6%
11	CENTESSA PHARMACEUTICALS PLC SPONSORED ADS SPONSORED ADS		3,574,048	$142.0m2.90%	2.90%	New
12	OLEMA PHARMACEUTICALS INC COM OLMA	OLMA	8,020,576	$119.6m2.44%	2.44%	Added +476.4k	+476,404 6.3%
13	TERNS PHARMACEUTICALS INC COM COM		2,216,499	$116.9m2.39%	2.39%	Added +1.4m	+1,406,213 173.6%
14	ORUKA THERAPEUTICS INC COM ORKA	ORKA	2,320,316	$113.8m2.33%	2.33%	Added +610.0k	+610,000 35.7%
15	APOGEE THERAPEUTICS INC COM COM		1,348,243	$113.5m2.32%	2.32%	Added +225.0k	+225,000 20.0%
16	SPYRE THERAPEUTICS INC COM NEW SYRE	SYRE	1,957,266	$98.7m2.02%	2.02%	Added +490.0k	+490,000 33.4%
17	CYTOKINETICS INC COM NEW CYTK	CYTK	1,480,857	$97.6m1.99%	1.99%	New
18	ABIVAX SA SPONSORED ADS ABVX	ABVX	772,473	$86.0m1.76%	1.76%	Reduced -645.0k	-645,000 -45.5%
19	TANGO THERAPEUTICS INC COM TNGX	TNGX	4,009,679	$83.9m1.71%	1.71%	New
20	MAZE THERAPEUTICS INC COM MAZE	MAZE	2,744,399	$81.9m1.67%	1.67%	New
21	TYRA BIOSCIENCES INC COM TYRA	TYRA	2,054,991	$78.7m1.61%	1.61%	New
22	VIRIDIAN THERAPEUTICS INC COM VRDN	VRDN	3,148,893	$61.6m1.26%	1.26%	Added +1.7m	+1,705,791 118.2%
23	SCHOLAR ROCK HLDG CORP COM SRRK	SRRK	1,226,080	$60.3m1.23%	1.23%	Reduced -1.8m	-1,836,077 -60.0%
24	MIRUM PHARMACEUTICALS INC COM MIRM	MIRM	625,000	$57.7m1.18%	1.18%	New
25	EYEPOINT PHARMACEUTICALS INC COM NEW EYPT	EYPT	3,142,437	$40.5m0.83%	0.83%	Reduced -549.0k	-549,038 -14.9%
26	LEXEO THERAPEUTICS INC COM LXEO	LXEO	6,184,134	$35.5m0.73%	0.73%	Added +1.4m	+1,420,936 29.8%
27	VERADERMICS INC COMMON STOCK MANE	MANE	525,000	$33.2m0.68%	0.68%	New
28	VOR BIOPHARMA INC COM NEW VOR	VOR	1,750,000	$31.2m0.64%	0.64%	Unchanged
29	UROGEN PHARMA LTD COM URGN	URGN	1,703,949	$30.6m0.63%	0.63%	Reduced -2.8m	-2,769,699 -61.9%
30	STRUCTURE THERAPEUTICS INC SPONSORED ADS GPCR	GPCR	545,287	$26.3m0.54%	0.54%	New
31	INVENTIVA SA ADS IVA	IVA	4,000,000	$22.2m0.45%	0.45%	Unchanged
32	ORIC PHARMACEUTICALS INC COM ORIC	ORIC	1,701,217	$21.6m0.44%	0.44%	Reduced -700.0k	-700,000 -29.1%
33	ASSEMBLY BIOSCIENCES INC COM NEW ASMB	ASMB	665,251	$18.5m0.38%	0.38%	Unchanged
34	BRIDGEBIO ONCOLOGY THERAPEUT COM NEW BBOT	BBOT	868,213	$7.8m0.16%	0.16%	Reduced -1.4m	-1,393,536 -61.6%
35	KALARIS THERAPEUTICS INC COM KLRS	KLRS	700,000	$4.0m0.08%	0.08%	Unchanged

Sold out since Q4 2025

Security	Ticker	Shares held before	Value then
CIDARA THERAPEUTICS INC CDTX	CDTX	759,565	$167.8m759.6k shares
CRINETICS PHARMACEUTICALS IN CRNX	CRNX	2,210,774	$102.9m2.2m shares
BRIDGEBIO PHARMA INC BBIO	BBIO	684,277	$52.3m684.3k shares
OCULAR THERAPEUTIX INC OCUL	OCUL	2,935,284	$35.6m2.9m shares

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	Ticker	Stake	Change	Schedule	Last filed
OLEMA PHARMACEUTICALS INC OLMA · 13G · filed 2025-02-14	OLMA	10.0%≈ $92.9m		13G	2025-02-14
EDGEWISE THERAPEUTICS INC EWTX · 13G · filed 2026-08-14	EWTX	9.5%≈ $415.1m	+3.3 pts	13G	2026-08-14
ACHIEVE LIFE SCIENCES INC ACHV · 13G · filed 2026-04-24	ACHV	9.2%≈ $64.7m	new	13G	2026-04-24
ASSEMBLY BIOSCIENCES INC ASMB · 13G · filed 2026-08-14	ASMB	7.8%≈ $42.7m	+2.4 pts	13G	2026-08-14
VIRIDIAN THERAPEUTICS INC VRDN · 13G · filed 2026-08-14	VRDN	6.1%≈ $123.5m	+1.0 pts	13G	2026-08-14
TYRA BIOSCIENCES INC TYRA · 13G · filed 2026-09-17	TYRA	5.8%≈ $110.9m	new	13G	2026-09-17
LEXEO THERAPEUTICS INC LXEO · 13G · filed 2026-08-14	LXEO	5.3%≈ $19.4m	-3.0 pts	13G	2026-08-14
MBX BIOSCIENCES INC MBX · 13G · filed 2026-06-24	MBX	5.2%≈ $137.6m	new	13G	2026-06-24
SPYRE THERAPEUTICS INC SYRE · 13G · filed 2026-10-01	SYRE	5.1%≈ $395.7m	new	13G	2026-10-01
JADE BIOSCIENCES INC JBIO · 13G · filed 2026-07-17	JBIO	5.1%≈ $69.0m	new	13G	2026-07-17