Vault-13

Decheng Capital LLC

MENLO PARK, CA · CIK 2010850 · 13F filing filed 2026-08-14

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$731.7m reported value +10.7% vs Q1 2026
14positions
98.1%in top 10
1 new 0 added 3 reduced 1 sold out vs Q1 2026

Holdings, Q2 2026

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

#SecurityTickerShares Value% of portfolioChangeShares change
1 CG ONCOLOGY INC COM CGON CGON 6,371,669 $452.7m61.87% 61.87% UnchangedShares held: Q3 2025 6.4m, Q4 2025 6.4m, Q1 2026 6.4m, Q2 2026 6.4m
2 NUVATION BIO INC COM CL A NUVB NUVB 25,954,439 $147.4m20.15% 20.15% UnchangedShares held: Q3 2025 26.0m, Q4 2025 26.0m, Q1 2026 26.0m, Q2 2026 26.0m
3 AARDVARK THERAPEUTICS INC COM AARD AARD 3,917,299 $22.6m3.08% 3.08% UnchangedShares held: Q3 2025 3.9m, Q4 2025 3.9m, Q1 2026 3.9m, Q2 2026 3.9m
4 ACLARIS THERAPEUTICS INC COM ACRS ACRS 4,041,736 $21.4m2.92% 2.92% UnchangedShares held: Q3 2025 4.0m, Q4 2025 4.0m, Q1 2026 4.0m, Q2 2026 4.0m
5 UPSTREAM BIO INC COM UPB UPB 2,724,868 $18.9m2.58% 2.58% UnchangedShares held: Q3 2025 3.3m, Q4 2025 3.1m, Q1 2026 2.7m, Q2 2026 2.7m
6 ARCUS BIOSCIENCES INC COM RCUS RCUS 464,779 $14.3m1.96% 1.96% ReducedShares held: Q3 2025 547.6k, Q4 2025 541.6k, Q1 2026 477.8k, Q2 2026 464.8k -13.0k -13,040 -2.7%
7 EQUILLIUM INC COM EQ EQ 4,447,308 $14.2m1.94% 1.94% UnchangedShares held: Q3 2025 4.4m, Q4 2025 4.4m, Q1 2026 4.4m, Q2 2026 4.4m
8 REVOLUTION MEDICINES INC COM RVMD RVMD 52,667 $9.9m1.35% 1.35% ReducedShares held: Q3 2025 210.0k, Q4 2025 200.0k, Q1 2026 93.5k, Q2 2026 52.7k -40.8k -40,833 -43.7%
9 LYELL IMMUNOPHARMA INC COM COM 692,050 $9.7m1.33% 1.33% UnchangedShares held: Q3 2025 595.5k, Q4 2025 692.0k, Q1 2026 692.0k, Q2 2026 692.0k
10 BEYONDSPRING INC SHS BYSI BYSI 3,800,702 $6.7m0.91% 0.91% UnchangedShares held: Q3 2025 4.3m, Q4 2025 3.8m, Q1 2026 3.8m, Q2 2026 3.8m
11 ZENTALIS PHARMACEUTICALS INC COM ZNTL ZNTL 1,323,327 $6.4m0.88% 0.88% UnchangedShares held: Q3 2025 1.3m, Q4 2025 1.3m, Q1 2026 1.3m, Q2 2026 1.3m
12 NEWAMSTERDAM PHARMA COMPANY ORDINARY SHARES NAMS NAMS 176,887 $6.0m0.82% 0.82% ReducedShares held: Q3 2025 657.1k, Q4 2025 592.1k, Q1 2026 325.1k, Q2 2026 176.9k -148.2k -148,170 -45.6%
13 PYXIS ONCOLOGY INC COMMON STOCK PYXS PYXS 326,810 $983.7k0.13% 0.13% UnchangedShares held: Q3 2025 326.8k, Q4 2025 326.8k, Q1 2026 326.8k, Q2 2026 326.8k
14 TANGO THERAPEUTICS INC COM TNGX TNGX 20,000 $625.2k0.09% 0.09% NewShares held: Q3 2025 0, Q4 2025 0, Q1 2026 0, Q2 2026 20.0k

Sold out since Q1 2026

SecurityTickerShares held beforeValue then
KRYSTAL BIOTECH INC KRYS KRYS 7,300 $1.9m7.3k shares