Propel Bio Management, LLC

Los Angeles, CA · CIK 1969764 · 13F filing filed 2026-08-13

SEC-registered investment adviser since 2022 · limited liability company

Assets managed$247.5m
Staff7 · 6 in investment roles
Main clients (by assets)Private funds 70%, Mutual funds and ETFs 30%
Private funds4 (1 hedge) · $172.2m gross assets
Form ADV · 2026-03-23SEC adviser record

Legal entityPropel Bio Management LLC (US)

$191.1m reported value +20.4% vs Q1 2026

29positions

68.1%in top 10

4 new 11 added 10 reduced 13 sold out vs Q1 2026

This report includes the holdings of 1 other manager that shares the investment decisions:

Simplify Asset Management Inc. – files its own report too; $72.9m of shares are in both

Shares in two reports are counted once in each security's totals.

Holdings, Q2 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	PLAINS GP HLDGS L P LTD PARTNR INT A PAGP	PAGP	1,272,360	$30.9m16.16%	16.16%	Unchanged
2	ACHIEVE LIFE SCIENCES INC COM ACHV	ACHV	4,034,018	$26.3m13.79%	13.79%	Added +247.6k	+247,593 6.5%
3	CORCEPT THERAPEUTICS INC COM CORT	CORT	136,499	$11.9m6.21%	6.21%	Reduced -11.3k	-11,329 -7.7%
4	PHATHOM PHARMACEUTICALS INC COM PHAT	PHAT	1,050,358	$11.4m5.96%	5.96%	Added +209.1k	+209,086 24.9%
5	DELCATH SYS INC COM NEW DCTH	DCTH	871,460	$11.0m5.74%	5.74%	Reduced -108.2k	-108,238 -11.1%
6	MILESTONE PHARMACEUTICALS IN COM MIST	MIST	7,429,590	$10.0m5.21%	5.21%	Added +3.3m	+3,311,269 80.4%
7	COMPASS PATHWAYS PLC SPONSORED ADS CMPS	CMPS	573,086	$8.1m4.24%	4.24%	Reduced -169.0k	-168,963 -22.8%
8	KYVERNA THERAPEUTICS INC COM KYTX	KYTX	883,198	$7.9m4.12%	4.12%	Added +238.8k	+238,777 37.0%
9	ARTIVA BIOTHERAPEUTICS INC COM ARTV	ARTV	696,436	$6.8m3.54%	3.54%	Added +550.1k	+550,067 375.8%
10	ABEONA THERAPEUTICS INC COM NEW ABEO	ABEO	983,070	$6.1m3.18%	3.18%	Reduced -346.8k	-346,829 -26.1%
11	AQUESTIVE THERAPEUTICS INC COM AQST	AQST	1,442,397	$6.0m3.14%	3.14%	Added +731.4k	+731,409 102.9%
12	PALISADE BIO INC COM PALI	PALI	2,582,388	$5.4m2.82%	2.82%	Added +1.5m	+1,467,388 131.6%
13	IMMUNIC INC COM NEW IMUX	IMUX	325,022	$5.0m2.61%	2.61%	New
14	INVENTIVA SA ADS IVA	IVA	1,281,212	$4.8m2.53%	2.53%	Added +556.5k	+556,534 76.8%
15	SAB BIOTHERAPEUTICS INC COM NEW SABS	SABS	1,076,578	$4.2m2.20%	2.20%	Added +63.8k	+63,788 6.3%
16	ORCHESTRA BIOMED HLDGS INC COM OBIO	OBIO	896,701	$3.9m2.02%	2.02%	Unchanged
17	CELLDEX THERAPEUTICS INC NEW COM NEW CLDX	CLDX	103,695	$3.9m2.02%	2.02%	Reduced -27.7k	-27,669 -21.1%
18	ZEVRA THERAPEUTICS INC COM NEW ZVRA	ZVRA	253,544	$3.6m1.90%	1.90%	Reduced -28.9k	-28,874 -10.2%
19	OCULAR THERAPEUTIX INC COM OCUL	OCUL	357,966	$3.5m1.84%	1.84%	Reduced -24.4k	-24,409 -6.4%
20	4D MOLECULAR THERAPEUTICS IN COM FDMT	FDMT	252,654	$3.4m1.76%	1.76%	Reduced -127.8k	-127,766 -33.6%
21	OVID THERAPEUTICS INC COM OVID	OVID	1,115,538	$3.0m1.57%	1.57%	Added +194.1k	+194,081 21.1%
22	EYEPOINT PHARMACEUTICALS INC COM NEW EYPT	EYPT	191,745	$2.7m1.43%	1.43%	Reduced -24.1k	-24,080 -11.2%
23	UPSTREAM BIO INC COM UPB	UPB	350,389	$2.4m1.27%	1.27%	Added +8.6k	+8,610 2.5%
24	SCYNEXIS INC COM SCYX	SCYX	543,478	$2.2m1.16%	1.16%	New
25	SILENCE THERAPEUTICS PLC ADS SLN	SLN	191,733	$2.1m1.10%	1.10%	New
26	LEONABIO INC COM LONA	LONA	149,279	$1.4m0.72%	0.72%	Unchanged
27	MAZE THERAPEUTICS INC COM MAZE	MAZE	43,798	$1.3m0.68%	0.68%	Unchanged
28	CORVUS PHARMACEUTICALS INC COM CRVS	CRVS	70,380	$1.1m0.55%	0.55%	Reduced -15.4k	-15,411 -18.0%
29	SAGIMET BIOSCIENCES INC COM SER A SGMT	SGMT	125,878	$973.0k0.51%	0.51%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
VOR BIOPHARMA INC VOR	VOR	314,543	$5.6m314.5k shares
VIRIDIAN THERAPEUTICS INC VRDN	VRDN	210,163	$4.1m210.2k shares
OCULIS HOLDING AG OCS	OCS	122,223	$3.3m122.2k shares
TREVI THERAPEUTICS INC TRVI	TRVI	223,802	$2.6m223.8k shares
IMMUNIC INC		2,344,779	$2.6m2.3m shares
COHERUS BIOSCIENCES INC CHRS	CHRS	1,420,550	$2.4m1.4m shares
KALARIS THERAPEUTICS INC KLRS	KLRS	295,771	$1.7m295.8k shares
UNIQURE NV QURE	QURE	104,772	$1.7m104.8k shares
NUVATION BIO INC NUVB	NUVB	329,296	$1.4m329.3k shares
EVOMMUNE INC EVMN	EVMN	55,664	$1.3m55.7k shares
ALDEYRA THERAPEUTICS INC ALDX	ALDX	730,606	$1.2m730.6k shares
CONNECT BIOPHARMA HLDGS LTD CNTB	CNTB	209,493	$553.9k209.5k shares
SATELLOS BIOSCIENCE INC MSLE	MSLE	10,145	$57.1k10.1k 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
MILESTONE PHARMACEUTICALS IN MIST · 13G · filed 2025-12-23	MIST	9.9%≈ $11.9m	new	13G	2025-12-23