SRRK Home Investment Highlights Valuation & Metrics Price Chart Why The Stock Moved Return vs. Risk About SRRK Interactive Breakdown Better Bets vs. SRRK Peer Outperformance Latest Trefis Analyses Trade Ideas More From Trefis Peer Comparisons FDIC Bank Data FDA Approved Drugs Data Clinical Pipeline Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Forward Guidance Insider Activity Investor Activity (13F) Trade Sentinel Investor Videos Industry Resource Links External Quote Links

    Scholar Rock (SRRK)

    Market Price (10/7/2026): $42.075 | Market Cap: $5.5 BilSector: Health Care | Industry: Biotechnology

    Scholar Rock (SRRK)

    Market Price (10/7/2026): $42.075
    Market Cap: $5.5 Bil
    Sector: Health Care
    Industry: Biotechnology

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

    0

    Megatrend and thematic drivers
    Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more.

    Meaningful short interest
    Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.83, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15%

    Very low revenue
    Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

    Not profitable at operating income level
    Op Inc LTMOperating Income, Last Twelve Months is -406 Mil

    Yield minus risk free rate is negative
    ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -11%

    Key risks
    SRRK key risks include [1] manufacturing and regulatory delays for its lead asset, Show more.

    0 Megatrend and thematic drivers
    Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more.
    1 Meaningful short interest
    Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.83, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15%
    2 Very low revenue
    Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
    3 Not profitable at operating income level
    Op Inc LTMOperating Income, Last Twelve Months is -406 Mil
    4 Yield minus risk free rate is negative
    ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -11%
    5 Key risks
    SRRK key risks include [1] manufacturing and regulatory delays for its lead asset, Show more.

    SRRK in ETFs

    Weight = SRRK's share of each fund

    VTI0.01%
    ITOT0.01%
    IWM0.18%
    XBI0.85%
    IBB0.33%
    IWO0.32%
    VTWO0.20%
    SCHA0.11%
    +7 more covered ETFs

    Valuation & Metrics

    FYE: 12/31SRRK [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$0.0 Mil—
    FY 2026 Sales$6.7 Mil—
    FY 2027 Sales$142.9 Mil—
    FY 2026 Sales Growth——
    FY 2027 Sales Growth2,046.4%13.1%
    EARNINGS
    LTM Net Income (GAAP) [3]$-408.6 Mil—
    FY 2026 Net Income (Non-GAAP)$-335.5 Mil—
    FY 2027 Net Income (Non-GAAP)$-281.2 Mil—
    FY 2027 Net Income Growth—18.7%
    FY 2026 EPS (Non-GAAP)$-3.32—
    FY 2027 EPS (Non-GAAP)$-2.61—
    FY 2027 EPS Growth——
    VALUATION
    FY 2026 P/S825.21.7
    FY 2027 P/S38.4—
    FY 2026 P/E—7.8
    FY 2027 P/E——

    [1] SRRK forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
    [2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 10/31/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
    [3] LTM = reported trailing-twelve-month actuals (GAAP).
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    AI Analysis | Feedback

    MetricValueDateSource
    PDUFA Target Action Date for ApitegromabSeptember 22, 20258142025Link
    Number of Participants in SAPPHIRE Phase 3 Trial (Main Study)15610082024Link
    Number of Participants in SAPPHIRE Phase 3 Trial (Ages 13-21 Cohort)3210082024Link
    Percentage of SAPPHIRE Trial Patients Enrolled in ONYX Open-Label Expansion Study98%10072024Link
    Number of Patients in SAPPHIRE Trial Enrolled in ONYX Open-Label Expansion Study18510072024Link
    U.S. Patent Number for Myostatin Inhibitor Combination Therapy10,946,0363172021Link
    U.S. Patent Expiry for Myostatin Inhibitor Combination TherapyJune 20373172021Link
    U.S. Patent Number for Inhibitors of Myostatin Activation10,981,9814262021Link
    U.S. Patent Expiry for Inhibitors of Myostatin ActivationMay 20344262021Link

    Price Chart

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    Upcoming
    11/13/2026Earnings ReleaseRev: $0.0 Mil (E)
    EPS: $-0.86 (E)

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 10/5/2026

    Scholar Rock (SRRK) stock has lost about 25% since 6/30/2026 because of the following key factors:

    1. Regulatory Uncertainty Around Manufacturing Facility for Apitegromab.

    The stock experienced downward pressure following the July 20, 2026, announcement that the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) opinion on apitegromab was contingent on the FDA's classification of the Catalent Indiana manufacturing facility. This introduced concerns about potential delays in both U.S. and European approvals for Scholar Rock's lead drug candidate. Although Scholar Rock subsequently removed Catalent Indiana from its U.S. Biologics License Application (BLA) in August 2026 and the FDA approved ISEMBYLD (apitegromab-mstn) on September 11, 2026, the initial regulatory ambiguity and the necessity to adapt the BLA likely contributed to investor apprehension during the period.

    2. Continued Net Loss Reported in Fiscal Second Quarter 2026 Financial Results.

    Scholar Rock reported a net loss of $109.9 million for the fiscal second quarter ended June 30, 2026, with no reported revenue, as announced on August 6, 2026. While the basic and diluted net loss per share of $0.84 met analyst consensus estimates, the ongoing substantial operating expenses for the pre-revenue biotechnology company, which had $492.1 million in cash, cash equivalents, and marketable securities as of June 30, 2026, likely contributed to negative sentiment.

    Show more
    Updated on 10/5/2026

    Scholar Rock (SRRK) stock has lost about 25% since 6/30/2026 because of the following key factors:

    1. Regulatory Uncertainty Around Manufacturing Facility for Apitegromab.

    The stock experienced downward pressure following the July 20, 2026, announcement that the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) opinion on apitegromab was contingent on the FDA's classification of the Catalent Indiana manufacturing facility. This introduced concerns about potential delays in both U.S. and European approvals for Scholar Rock's lead drug candidate. Although Scholar Rock subsequently removed Catalent Indiana from its U.S. Biologics License Application (BLA) in August 2026 and the FDA approved ISEMBYLD (apitegromab-mstn) on September 11, 2026, the initial regulatory ambiguity and the necessity to adapt the BLA likely contributed to investor apprehension during the period.

    2. Continued Net Loss Reported in Fiscal Second Quarter 2026 Financial Results.

    Scholar Rock reported a net loss of $109.9 million for the fiscal second quarter ended June 30, 2026, with no reported revenue, as announced on August 6, 2026. While the basic and diluted net loss per share of $0.84 met analyst consensus estimates, the ongoing substantial operating expenses for the pre-revenue biotechnology company, which had $492.1 million in cash, cash equivalents, and marketable securities as of June 30, 2026, likely contributed to negative sentiment.

    3. Market Concerns Regarding Apitegromab's Fracture Risk and Commercial Uptake Post-Approval.

    Despite the FDA's approval of ISEMBYLD in September 2026, concerns arose regarding its commercial reception. Post-approval physician surveys indicated divided opinions on whether the drug contributed to a noted fracture imbalance on its label, with many physicians expressing lower willingness to prescribe it to patients with skeletal risk factors. Additionally, the commercial viability faces challenges such as potential payer friction, "step edits," and uncertainties surrounding reimbursement, which analysts suggest could limit the drug's uptake despite its efficacy. These issues related to market acceptance and patient access likely impacted the stock's performance.

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    Stock Movement Drivers

    Fundamental Drivers

    The -22.8% change in SRRK stock from 6/30/2026 to 10/6/2026 was primarily driven by a -2.6% change in the company's Shares Outstanding (Mil).
    (LTM values as of)630202610062026Change
    Stock Price ($)55.0042.45-22.8%
    Change Contribution By: 
    Total Revenues ($ Mil)000.0%
    P/S Multiple∞∞0.0%
    Shares Outstanding (Mil)127131-2.6%
    Cumulative Contribution0.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    6/30/2026 to 10/6/2026
    ReturnCorrelation
    SRRK-22.8% 
    Market (SPY)4.3%7.0%
    Sector (XLV)5.3%15.8%

    Fundamental Drivers

    The -13.6% change in SRRK stock from 3/31/2026 to 10/6/2026 was primarily driven by a -7.7% change in the company's Shares Outstanding (Mil).
    (LTM values as of)331202610062026Change
    Stock Price ($)49.1642.45-13.6%
    Change Contribution By: 
    Total Revenues ($ Mil)000.0%
    P/S Multiple∞∞0.0%
    Shares Outstanding (Mil)121131-7.7%
    Cumulative Contribution0.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    3/31/2026 to 10/6/2026
    ReturnCorrelation
    SRRK-13.6% 
    Market (SPY)20.1%10.3%
    Sector (XLV)14.5%19.4%

    Fundamental Drivers

    The 14.0% change in SRRK stock from 9/30/2025 to 10/6/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
    (LTM values as of)930202510062026Change
    Stock Price ($)37.2442.4514.0%
    Change Contribution By: 
    Total Revenues ($ Mil)000.0%
    P/S Multiple∞∞0.0%
    Shares Outstanding (Mil)113131-13.7%
    Cumulative Contribution0.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    9/30/2025 to 10/6/2026
    ReturnCorrelation
    SRRK14.0% 
    Market (SPY)17.9%20.0%
    Sector (XLV)21.6%18.3%

    Fundamental Drivers

    The 497.9% change in SRRK stock from 9/30/2023 to 10/6/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
    (LTM values as of)930202310062026Change
    Stock Price ($)7.1042.45497.9%
    Change Contribution By: 
    Total Revenues ($ Mil)000.0%
    P/S Multiple∞∞0.0%
    Shares Outstanding (Mil)80131-38.7%
    Cumulative Contribution0.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    9/30/2023 to 10/6/2026
    ReturnCorrelation
    SRRK497.9% 
    Market (SPY)88.5%5.4%
    Sector (XLV)35.9%6.0%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    SRRK Return-49%-64%108%130%2%-1%-11%
    Peers Return-20%19%-1%-0%27%-12%6%
    S&P 500 Return27%-19%24%23%16%14%107%

    Monthly Win Rates [3]
    SRRK Win Rate42%42%50%58%42%50% 
    Peers Win Rate47%58%48%47%52%42% 
    S&P 500 Win Rate75%42%67%75%67%50% 

    Max Drawdowns [4]
    SRRK Max Drawdown-65%-81%-54%-62%-48%-28% 
    Peers Max Drawdown-47%-30%-38%-37%-43%-32% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: BIIB, IONS, SRPT, PTCT, REGN. See SRRK Returns vs. Peers.
    [3] Win Rate = % of calendar months in which monthly returns were positive
    [4] Max drawdown represents maximum peak-to-trough decline within a year
    [5] 2026 data is for the year up to 10/6/2026 (YTD)

    How Low Can It Go

    EventSRRKS&P 500
    2025 US Tariff Shock
      % Loss-35.6%-18.8%
      % Gain to Breakeven55.3%23.1%
      Time to Breakeven93 days79 days
    2023 SVB Regional Banking Crisis
      % Loss-42.1%-6.7%
      % Gain to Breakeven72.7%7.1%
      Time to Breakeven149 days31 days
    2022 Inflation Shock & Fed Tightening
      % Loss-81.1%-24.5%
      % Gain to Breakeven429.6%32.4%
      Time to Breakeven859 days427 days
    2020 COVID-19 Crash
      % Loss-27.4%-33.7%
      % Gain to Breakeven37.7%50.9%
      Time to Breakeven2 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-32.7%-19.2%
      % Gain to Breakeven48.6%23.8%
      Time to Breakeven651 days105 days

    Compare to BIIB, IONS, SRPT, PTCT, REGN

    In The Past

    Scholar Rock's stock fell -35.6% during the 2025 US Tariff Shock. Such a loss loss requires a 55.3% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    EventSRRKS&P 500
    2025 US Tariff Shock
      % Loss-35.6%-18.8%
      % Gain to Breakeven55.3%23.1%
      Time to Breakeven93 days79 days
    2023 SVB Regional Banking Crisis
      % Loss-42.1%-6.7%
      % Gain to Breakeven72.7%7.1%
      Time to Breakeven149 days31 days
    2022 Inflation Shock & Fed Tightening
      % Loss-81.1%-24.5%
      % Gain to Breakeven429.6%32.4%
      Time to Breakeven859 days427 days
    2020 COVID-19 Crash
      % Loss-27.4%-33.7%
      % Gain to Breakeven37.7%50.9%
      Time to Breakeven2 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-32.7%-19.2%
      % Gain to Breakeven48.6%23.8%
      Time to Breakeven651 days105 days

    Compare to BIIB, IONS, SRPT, PTCT, REGN

    In The Past

    Scholar Rock's stock fell -35.6% during the 2025 US Tariff Shock. Such a loss loss requires a 55.3% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    About Scholar Rock (SRRK)

    Scholar Rock (SRRK) is a biopharmaceutical company focused on discovering and developing novel medicines for serious diseases where protein growth factor signaling is a key factor. The company aims to address unmet medical needs in areas such as neuromuscular disorders, various cancers, and fibrotic diseases by targeting these specific biological pathways with innovative therapeutic candidates.

    The company's lead product candidate, Apitegromab, has completed Phase 3 clinical trials and is being developed for the treatment of Spinal Muscular Atrophy (SMA). Additionally, Scholar Rock is advancing SRK-181 through Phase 1 clinical trials, which targets cancers that have become resistant to existing checkpoint inhibitor therapies, such as anti-PD-1 treatments. The company also maintains a broader pipeline of product candidates and has a strategic collaboration with Gilead Sciences, Inc. to discover and develop specific inhibitors for transforming growth factor beta activation, intended for fibrotic diseases.

    AI Analysis | Feedback

    1. An early-stage Vertex Pharmaceuticals focused on rare neuromuscular disorders.

    2. A developing biotech similar to Biogen, with drugs for neurological diseases, cancer, and fibrosis.

    AI Analysis | Feedback

    Scholar Rock's major products are experimental drug candidates in various stages of clinical development:

    • Apitegromab: An inhibitor designed to treat spinal muscular atrophy, having completed Phase 3 clinical trials.
    • SRK-181: A drug candidate in Phase 1 clinical trials targeting cancers resistant to checkpoint inhibitor therapies.
    • Novel product candidates: A pipeline of developing therapies aimed at neuromuscular disorders, cancer, and fibrosis.
    • TGFβ inhibitors: Specific inhibitors of transforming growth factor beta activation being discovered and developed in collaboration with Gilead Sciences for fibrotic diseases.

    AI Analysis | Feedback

    Scholar Rock (SRRK) is a biopharmaceutical company focused on the discovery and development of medicines. Given its stage of development, with drug candidates primarily in clinical trials, it does not currently have major customers in the traditional sense of selling finished products directly to individuals or end-users.

    Instead, its revenue or strategic relationships typically come from collaborations or partnerships with larger pharmaceutical companies that license, co-develop, or acquire its drug candidates. Based on the provided description, the company sells primarily to other companies in this context.

    The major customer or strategic partner explicitly mentioned in the background information is:

    • Gilead Sciences, Inc. (GILD)

    AI Analysis | Feedback

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    David Hallal
    Chief Executive Officer & Chairman

    David Hallal was appointed Chief Executive Officer in April 2025 and has served as Chairman of Scholar Rock's Board of Directors since 2017. Prior to joining Scholar Rock, he spent over a decade as CEO, COO, and CCO of Alexion, where he was responsible for building and leading the company's 50-country operating platform.

    Vikas Sinha
    Chief Financial Officer

    Vikas Sinha was appointed Chief Financial Officer in April 2025. He previously held the position of Chief Financial Officer at Alexion and ElevateBio.

    Akshay Vaishnaw M.D., Ph.D.
    President, R&D

    Akshay Vaishnaw was appointed to the newly created role of President of Research & Development in April 2025. He has been a member of Scholar Rock's Board of Directors since 2019 and previously served as President of Alnylam.

    R. Keith Woods
    Chief Operating Officer

    R. Keith Woods was appointed to the newly created role of Chief Operating Officer in April 2025, with a focus on evolving the organization into a fully integrated global commercial enterprise. He was formerly the Chief Operating Officer of argenx.

    Lisa Wyman
    Chief Technical and Quality Officer

    Lisa Wyman was appointed Chief Technical and Quality Officer in January 2025. She brings over 20 years of leadership and functional experience in technical and quality operations, including executive team responsibilities at Generate:Biomedicines and Acceleron Pharma. Acceleron Pharma was acquired by Merck in 2021.

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    Key Risks for Scholar Rock (SRRK)

    1. Regulatory approval and commercial success of lead product candidates: Scholar Rock's future revenue and profitability are heavily dependent on the successful regulatory approval and subsequent commercialization of its lead product candidate, Apitegromab, which has completed Phase 3 clinical trials for spinal muscular atrophy. There is no guarantee that Apitegromab will receive regulatory approval or achieve significant market acceptance, which would severely impact the company's business and financial prospects. Similarly, the success of other pipeline candidates, such as SRK-181 (in Phase 1 clinical trials), is critical but also uncertain.
    2. Reliance on a limited number of product candidates: The company's business model is significantly concentrated around the successful development and commercialization of a small number of product candidates, primarily Apitegromab and SRK-181. A setback, failure in clinical trials, or adverse regulatory decision for either of these key programs could have a disproportionately negative impact on Scholar Rock's financial condition and ability to continue operations.

    AI Analysis | Feedback

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    Apitegromab (Spinal Muscular Atrophy)

    The addressable market for Apitegromab in the treatment of spinal muscular atrophy (SMA) is substantial. In the U.S. market, Apitegromab's revenue is projected to reach an annual total of $433 million by 2037. Globally, the spinal muscular atrophy treatment market size was estimated at USD 4.40 billion in 2024 and is projected to reach USD 13.09 billion by 2030, growing at a CAGR of 18.0% from 2025 to 2030. Another source projects the global spinal muscular atrophy therapeutics market to rise from USD 6.06 billion in 2026 to USD 13.48 billion by 2031. Scholar Rock plans to launch apitegromab commercially in the US and Europe in 2026 and aims to expand its market reach to 50 countries, targeting 35,000 SMA patients. Analyst estimates indicate peak sales for Apitegromab could reach $1.5 billion.

    SRK-181 (Cancers Resistant to Checkpoint Inhibitor Therapies)

    SRK-181 targets cancers that are resistant to checkpoint inhibitor therapies, such as anti-PD-1 or anti-PD-L1 antibody therapies. The global market for checkpoint inhibitor refractory cancer drugs was estimated at USD 42,632.94 million in 2025 and is expected to grow to USD 95,548.35 million by 2032, at a Compound Annual Growth Rate (CAGR) of 12.67% from 2025 to 2032. This market encompasses the expanding patient pool that does not respond to, or progresses after, PD-(L)1 and CTLA-4 checkpoint inhibitor therapy.

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    Expected Drivers of Future Revenue Growth for Scholar Rock (SRRK)

    Over the next 2-3 years, Scholar Rock Holding Corporation's future revenue growth is primarily anticipated to be driven by the following key factors:

    1. U.S. Commercial Launch and Ramp-up of Apitegromab for Spinal Muscular Atrophy (SMA): Scholar Rock is preparing for the U.S. commercial launch of apitegromab in 2026, following a constructive meeting with the FDA and progress in addressing manufacturing facility observations. This therapy aims to be the first muscle-targeted treatment approved for both children and adults with SMA.
    2. European Commercial Launch and Expansion of Apitegromab for SMA: Following the anticipated U.S. launch, a regulatory decision from the European Medicines Agency (EMA) is expected by mid-2026, with a European launch projected for the second half of 2026, starting with Germany. This will open up significant international market access for apitegromab.
    3. Global Market Expansion of Apitegromab: Beyond the initial U.S. and European markets, Scholar Rock plans to establish a 50-country operating platform, targeting a broad patient population of approximately 35,000 SMA patients, with a focus on expansion into regions like Asia-Pacific and Latin America.
    4. Advancement of Apitegromab into Additional Indications and Formulations: The company is actively pursuing the expansion of apitegromab's market potential through further clinical development. This includes the Phase 2 OPAL study evaluating apitegromab in combination with gene therapy for infants and toddlers under two years old with SMA. Additionally, Scholar Rock is exploring the development of a subcutaneous version of apitegromab, which could broaden its administration options and patient reach following the approval of the intravenous formulation.

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    Share Issuance

    • Scholar Rock completed an upsized public offering of common stock and pre-funded warrants in October 2024, generating approximately $300 million in gross proceeds to support commercialization, advance clinical programs, and for general corporate purposes.
    • The company reported $60.4 million from warrant exercises in the fourth quarter of 2025, contributing to its cash balance.

    Inbound Investments

    • Scholar Rock secured a new debt facility of up to $550 million with Blue Owl Capital, with an additional $100 million expected to be drawn by the end of the first quarter of 2026, to support commercial and pipeline initiatives.
    • The company anticipates monetizing a rare pediatric disease priority review voucher, potentially valued between $150 million and $200 million, upon apitegromab approval.

    Capital Expenditures

    • Annual capital expenditures were $5.25 million in 2021, $1.06 million in 2022, $0.06 million in 2023, $0.10 million in 2024, and $0.60 million in 2025.
    • Current and planned capital expenditures are focused on commercial readiness and inventory build-out for apitegromab, advancing clinical programs, and developing its technology platform.
    • The company is investing in a second U.S. fill-finish facility to strengthen supply continuity and support future commercial demand for apitegromab.

    Peer Outperformance in Biotechnology

    SRRK has outperformed 84% of its 361 Biotechnology peers over 5Y. Biotechnology ranks 9th of 10 industries in Health Care by median 5Y return. The sector’s gains have largely come from elsewhere.
    Share of Biotechnology constituents that SRRK has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
    1Y
    65%
    of 453 industry peers · 6.7% return
    3Y
    93%
    of 401 industry peers · 476.0% return
    5Y
    84%
    of 361 industry peers · 47.5% return
    No Biotechnology peer with a comparable growth profile has beaten SRRK by more than 20pp over 5Y.
    Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is SRRK's own industry. Use this to see which corners of the sector have carried the returns.
    Industry Names 1Y med3Y med5Y med Top 3 by 5Y
    Health Care Distributors 6 14.6%45.3%93.9% CAH 427% · MCK 373% · COR 181%
    Health Care Facilities 24 0.4%5.6%9.6% THC 307% · NHC 280% · ENSG 140%
    Health Care Services 20 20.8%36.1%8.3% HIMS 296% · RDNT 144% · DGX 75%
    Managed Health Care 8 27.5%-7.2%3.4% OSCR 101% · HQY 40% · ELV 13%
    Health Care Equipment 50 -8.4%-2.5%-18.3% POCI 11150% · UFPT 370% · GKOS 252%
    Pharmaceuticals 62 -7.8%-6.9%-32.6% INDV 1105% · ETON 1034% · LQDA 842%
    Health Care Supplies 11 12.8%-11.8%-42.2% LNTH 301% · HAE 51% · MMSI 17%
    Life Sciences Tools & Services 109 -10.6%-13.2%-64.8% SNWV 2022% · NTRA 244% · MEDP 212%
    Biotechnology ← 362 -18.0%-26.3%-79.4% CELZ 1186% · DNTH 1091% · ELVN 1027%
    Health Care Technology 20 -31.9%-55.1%-80.7% SPOK 79% · HSTM 11% · VEEV -2%
    Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

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    MYPSPLAYSTUDIOS0.6780.8%602.5%
    KODKodiak Sciences5.8161.1%230.3%
    PACBPacific Biosciences of California0.8100.0%44.4%
    DNAGinkgo Bioworks0.878.6%49.3%
    MXLMaxLinear9.874.2%527.1%
    SECZSecuritize1.971.2%3.3%
    GRALGRAIL5.970.9%60.4%
    VICRVicor13.758.7%173.1%
    BALYBallys0.853.2%-15.3%
    PSPershing Square23.952.9%147.8%

    Top Losers

    TickerCompanyMkt Cap (B)1M RtnYTD Rtn
    CTVACorteva9.3-84.2%-79.1%
    LQDALiquidia2.3-62.3%-24.9%
    AVBPArriVent BioPharma0.7-51.2%-25.0%
    QUREuniQure1.5-48.2%-3.6%
    XNDUXanadu Quantum Technologies1.5-47.9%-56.0%
    NKTRNektar Therapeutics1.3-46.2%-5.6%
    GLASGlass House Brands0.5-41.9%-41.7%
    ACRSAclaris Therapeutics0.5-40.0%22.9%
    XENEXenon Pharmaceuticals3.6-38.8%-18.4%
    ALHCAlignment Healthcare1.7-38.2%-57.6%

    More From Trefis

    Research & Analysis

    Invest in Strategies

    Wealth Management

    Peer Comparisons

    Peers to compare with:

    Financials

    SRRKBIIBIONSSRPTPTCTREGNMedian
    NameScholar .Biogen Ionis Ph.Sarepta .PTC Ther.Regenero. 
    Mkt Price42.49223.7543.9817.5563.35743.0053.66
    Mkt Cap5.533.07.31.95.376.46.4
    Rev LTM010,0288741,9741,00915,5351,492
    Op Inc LTM-4061,935-594-621174,17427
    FCF LTM-2972,490-56875-3333,575-111
    FCF 3Y Avg-2411,935-410-302373,439-102
    CFO LTM-2972,879-496111-314,68140
    CFO 3Y Avg-2412,260-358-1951864,498-5

    Growth & Margins

    SRRKBIIBIONSSRPTPTCTREGNMedian
    NameScholar .Biogen Ionis Ph.Sarepta .PTC Ther.Regenero. 
    Rev Chg LTM-0.3%-7.4%-20.4%-42.8%9.3%-7.4%
    Rev Chg 3Y Avg-0.2%12.5%31.5%21.0%7.0%12.5%
    Rev Chg Q-3.4%-40.7%-34.3%101.5%16.7%3.4%
    QoQ Delta Rev Chg LTM-0.9%-17.4%-9.6%22.0%4.1%0.9%
    Op Inc Chg LTM-25.7%-21.7%-123.0%-6,578.0%-86.5%6.1%-56.1%
    Op Inc Chg 3Y Avg-35.9%-6.0%-24.5%-2,191.0%174.3%-1.7%-15.2%
    Op Mgn LTM-19.3%-68.0%-3.2%11.6%26.9%11.6%
    Op Mgn 3Y Avg-21.5%-47.0%-0.2%13.1%28.2%13.1%
    QoQ Delta Op Mgn LTM--3.9%-34.7%-3.2%19.7%1.1%-3.2%
    CFO/Rev LTM-28.7%-56.8%5.6%-3.0%30.1%5.6%
    CFO/Rev 3Y Avg-22.8%-41.2%-10.9%8.0%31.2%8.0%
    FCF/Rev LTM-24.8%-64.9%3.8%-33.0%23.0%3.8%
    FCF/Rev 3Y Avg-19.5%-47.1%-16.5%-6.9%23.9%-6.9%

    Valuation

    SRRKBIIBIONSSRPTPTCTREGNMedian
    NameScholar .Biogen Ionis Ph.Sarepta .PTC Ther.Regenero. 
    Mkt Cap5.533.07.31.95.376.46.4
    P/S-3.38.30.95.24.94.9
    P/Op Inc-13.717.1-12.2-29.745.018.32.4
    P/EBIT-13.925.5-15.2-31.244.514.60.3
    P/E-13.639.6-12.9-13.5-137.017.6-13.2
    P/CFO-18.711.5-14.716.7-172.416.3-1.6
    Total Yield-7.4%2.5%-7.8%-7.5%-0.7%6.2%-4.0%
    Dividend Yield0.0%0.0%0.0%0.0%0.0%0.5%0.0%
    FCF Yield 3Y Avg-10.5%7.2%-4.8%-8.9%0.9%4.9%-1.9%
    D/E0.00.30.20.60.10.00.2
    Net D/E-0.10.2-0.10.1-0.3-0.1-0.1

    Returns

    SRRKBIIBIONSSRPTPTCTREGNMedian
    NameScholar .Biogen Ionis Ph.Sarepta .PTC Ther.Regenero. 
    1M Rtn-23.2%1.3%-24.3%-22.0%-8.6%-10.2%-16.1%
    3M Rtn-24.9%8.8%-49.1%-11.3%-29.0%10.0%-18.1%
    6M Rtn-14.8%27.4%-40.5%-24.0%-9.0%-2.0%-11.9%
    12M Rtn6.8%45.2%-36.3%-24.5%-2.2%27.6%2.3%
    3Y Rtn476.5%-15.0%-5.2%-85.8%193.3%-10.3%-7.8%
    1M Excs Rtn-24.5%0.0%-25.6%-23.3%-9.9%-11.5%-17.4%
    3M Excs Rtn-28.7%7.2%-52.4%-17.7%-32.9%7.7%-23.2%
    6M Excs Rtn-33.0%9.2%-58.6%-42.4%-27.0%-20.3%-30.0%
    12M Excs Rtn-3.0%23.5%-52.8%-39.1%-19.4%7.9%-11.2%
    3Y Excs Rtn416.0%-95.6%-85.3%-169.0%100.8%-91.7%-88.5%

    FDA Approved Drugs Data

    Expand for More
    Post-Approval Fwd Returns
    FDA
    App #    		Brand
    Name    		Generic
    Name    		Dosage
    Form    		FDA
    Approval    		3M
    Rtn    		6M
    Rtn    		1Y
    Rtn    		2Y
    Rtn    		Total
    Rtn
    BLA761463  ISEMBYLDapitegromab-mstninjectable9112026-23.4%-23.4%-23.4%-23.4%-23.4%
     Collapse to Preview
    Post-Approval Fwd Returns
    FDA
    App #    		Brand
    Name    		Generic
    Name    		Dosage
    Form    		FDA
    Approval    		3M
    Rtn    		6M
    Rtn    		1Y
    Rtn    		2Y
    Rtn    		Total
    Rtn
    BLA761463  ISEMBYLDapitegromab-mstninjectable9112026-23.4%-23.4%-23.4%-23.4%-23.4%

    Financials

    $ Mil | FY: 12/312026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q3
    Period End6/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/2023
    Filing Date8/6/20265/7/20263/3/202611/14/20258/6/20255/14/20252/27/202511/12/20248/8/20245/7/20243/19/202411/7/2023
    Key Financials Quarterly            
    Total Revenue000000000000
    Ebitda-105-103-88-100-108-73-64-62-56-58-47-43
    Operating Income-109-102-92-104-112-77-69-65-59-58-48-44
    Net Income-110-106-91-102-110-75-66-64-59-57-46-42
    EPS-0.84-0.83-0.88-0.90-0.98-0.67-0.61-0.66-0.60-0.59-0.50-0.53
    Key Financials TTM            
    Total Revenue TTM000000000000
    Ebitda TTM-396-400-369-346-308-256-241-224-204-186-168-161
    Operating Income TTM-406-410-385-362-323-271-252-231-210-189-171-164
    Net Income TTM-409-409-378-353-316-264-246-226-204-183-166-159
    Growth Rates Quarterly            
    Total Revenue Growth------------
    EBITDA Growth3.1%-41.9%-36.6%-61.3%-92.6%-25.4%-36.0%-45.0%-46.8%-45.4%-19.4%0.4%
    Operating Income Growth2.9%-32.3%-32.5%-59.8%-88.4%-32.0%-44.4%-48.3%-52.2%-44.2%-18.8%0.4%
    Net Income Growth0.1%-41.2%-36.9%-58.5%-88.1%-31.4%-44.1%-52.2%-54.3%-44.4%-17.5%2.2%
    Margins Quarterly            
    EBITDA Margin------------
    Operating Income Margin------------
    Net Income Margin------------
    Cash & Debt            
    Total Cash492480368370295364437139190238280219
    Total Debt2042061091106263656768606263
    Net Debt / (Cash)-288-274-259-260-233-301-372-72-122-178-218-155
    Cash Flows Quarterly            
    FCF from Operations-70-82-75-69-77-79-50-52-49-50-37-32
    Cash Flows TTM            
    FCF from Operations TTM-297-303-300-274-258-230-201-189-169-152-145-137
    Returns to Shareholders Quarterly            
    Dividends000000000000
    Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
    Return on Invested Capital (ROIC) Quarterly            
    ROIC-29.4%-29.0%-28.6%-34.7%-40.5%-30.6%-30.2%-30.0%-29.6%-31.7%-28.1%-27.2%
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM-27.4%-29.1%-29.9%-30.3%-29.2%-26.8%-27.4%-26.7%-26.1%-25.6%-25.1%-25.5%

    Segment Financials

    Revenue by Segment
    $ Mil20232022202120202019
    Single Segment033191520
    Total033191520


    Net Income by Segment
    $ Mil20252024
    Single Segment-378-246
    Total-378-246


    Assets by Segment
    $ Mil2024202320182017
    Single Segment47531118162
    Total47531118162


    Price Behavior

    Price Behavior
    Market Price$42.45 
    Market Cap ($ Bil)5.5 
    First Trading Date05/24/2018 
    Distance from 52W High-29.3% 
       50 Days200 Days
    DMA Price$51.89$48.36
    DMA Trendupindeterminate
    Distance from DMA-18.2%-12.2%
     3M1YR
    Volatility50.2%58.8%
    Downside Capture161.6473.63
    Upside Capture-18.0667.65
    Correlation (SPY)7.1%20.8%
    SRRK Betas & Captures as of 9/30/2026

     1M2M3M6M1Y3Y
    Beta1.210.730.490.430.950.78
    Up Beta2.01-0.470.060.541.411.26
    Down Beta0.721.32-0.62-0.041.180.85
    Up Capture38%108%54%37%73%183%
    Bmk +ve Days6162766132424
    Stock +ve Days8203064125368
    Down Capture292%108%138%74%73%86%
    Bmk -ve Days16263760120328
    Stock -ve Days14223462127380

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with SRRK
    SRRK13.3%59.0%0.42-
    Sector ETF (XLV)16.9%15.7%0.7920.6%
    Equity (SPY)17.5%13.0%0.9620.6%
    Gold (GLD)6.9%29.6%0.233.1%
    Commodities (DBC)46.1%20.8%1.71-10.0%
    Real Estate (VNQ)2.1%13.7%-0.1013.5%
    Bitcoin (BTCUSD)-29.8%44.3%-0.6713.2%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with SRRK
    SRRK6.0%179.4%0.41-
    Sector ETF (XLV)7.1%15.2%0.289.3%
    Equity (SPY)13.9%17.1%0.629.9%
    Gold (GLD)18.7%18.9%0.80-0.1%
    Commodities (DBC)10.3%19.5%0.402.6%
    Real Estate (VNQ)1.2%18.8%-0.049.0%
    Bitcoin (BTCUSD)16.0%52.2%0.477.5%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 10-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with SRRK
    SRRK10.6%154.9%0.46-
    Sector ETF (XLV)10.6%16.7%0.5110.0%
    Equity (SPY)15.6%17.9%0.7410.7%
    Gold (GLD)11.6%16.4%0.580.0%
    Commodities (DBC)8.3%18.1%0.374.3%
    Real Estate (VNQ)4.2%20.7%0.166.9%
    Bitcoin (BTCUSD)64.1%66.2%1.044.4%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date9152026
    Short Interest: Shares Quantity19.4 Mil
    Short Interest: % Change Since 83120267.8%
    Average Daily Volume1.8 Mil
    Days-to-Cover Short Interest10.8 days
    Basic Shares Quantity130.6 Mil
    Short % of Basic Shares14.9%

    Returns Analyses

    Earnings Returns History

    Updated 8/6/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    5/7/2026-1.4%6.5%-6.0%
    3/3/20261.9%1.7%13.1%
    1/12/20263.3%6.6%12.9%
    11/14/202524.4%26.4%47.4%
    8/6/2025-6.4%-12.9%-12.3%
    5/14/2025-2.7%0.4%6.1%
    2/27/2025-2.9%-2.4%-9.9%
    11/12/2024-5.3%-6.3%49.8%
    ...
    SUMMARY STATS   
    # Positive171713
    # Negative9913
    Median Positive5.8%6.6%9.6%
    Median Negative-2.5%-6.3%-9.9%
    Max Positive24.4%32.5%49.8%
    Max Negative-6.4%-18.8%-44.6%
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    5/7/2026-1.4%6.5%-6.0%
    3/3/20261.9%1.7%13.1%
    1/12/20263.3%6.6%12.9%
    11/14/202524.4%26.4%47.4%
    8/6/2025-6.4%-12.9%-12.3%
    5/14/2025-2.7%0.4%6.1%
    2/27/2025-2.9%-2.4%-9.9%
    11/12/2024-5.3%-6.3%49.8%
    8/8/2024-1.0%11.6%-2.7%
    5/7/2024-2.5%-9.4%-34.7%
    3/19/202414.8%21.3%3.8%
    1/8/20245.8%1.2%-1.1%
    11/7/20231.5%-18.8%30.9%
    8/9/202311.3%9.0%1.0%
    5/9/20236.0%3.7%-15.8%
    3/7/20236.6%2.3%-13.2%
    11/14/20221.1%0.2%-0.9%
    8/8/20226.7%32.5%4.9%
    5/16/202215.0%-0.6%-3.3%
    3/7/20223.7%-9.5%-9.9%
    11/9/20213.8%24.1%-8.2%
    8/10/20213.5%12.1%3.3%
    5/13/2021-0.5%-3.9%10.6%
    3/9/20218.3%15.8%-44.6%
    11/9/2020-0.5%2.8%9.6%
    8/7/20202.3%-0.2%5.0%
    SUMMARY STATS   
    # Positive171713
    # Negative9913
    Median Positive5.8%6.6%9.6%
    Median Negative-2.5%-6.3%-9.9%
    Max Positive24.4%32.5%49.8%
    Max Negative-6.4%-18.8%-44.6%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    06/30/202608/06/202610-Q
    03/31/202605/07/202610-Q
    12/31/202503/03/202610-K
    09/30/202511/14/202510-Q
    06/30/202508/06/202510-Q
    03/31/202505/14/202510-Q
    12/31/202402/27/202510-K
    09/30/202411/12/202410-Q
    06/30/202408/08/202410-Q
    03/31/202405/07/202410-Q
    12/31/202303/19/202410-K
    09/30/202311/07/202310-Q
    06/30/202308/09/202310-Q
    03/31/202305/09/202310-Q
    12/31/202203/07/202310-K
    09/30/202211/14/202210-Q
     Collapse to Preview
    Report DateFiling DateFiling
    06/30/202608/06/202610-Q
    03/31/202605/07/202610-Q
    12/31/202503/03/202610-K
    09/30/202511/14/202510-Q
    06/30/202508/06/202510-Q
    03/31/202505/14/202510-Q
    12/31/202402/27/202510-K
    09/30/202411/12/202410-Q
    06/30/202408/08/202410-Q
    03/31/202405/07/202410-Q
    12/31/202303/19/202410-K
    09/30/202311/07/202310-Q
    06/30/202308/09/202310-Q
    03/31/202305/09/202310-Q
    12/31/202203/07/202310-K
    09/30/202211/14/202210-Q
    06/30/202208/08/202210-Q
    03/31/202205/16/202210-Q
    12/31/202103/07/202210-K
    09/30/202111/09/202110-Q
    06/30/202108/10/202110-Q
    03/31/202105/13/202110-Q
    12/31/202003/09/202110-K
    09/30/202011/09/202010-Q
    06/30/202008/07/202010-Q
    03/31/202005/07/202010-Q
    12/31/201903/12/202010-K
    09/30/201911/12/201910-Q

    Recent Forward Guidance

    Updated 10/4/2026

    Latest: Q1 2026 Earnings Reported 5/7/2026

    Forward GuidanceGuidance Change
    MetricSourceLowMidHigh% Chg% DeltaChangePrior
    Q3 2026 Commercial Supply AvailabilityReported      
    2026 Phase 2 FORGE Trial InitiationReported      
    2026 SRK-439 Topline DataReported      


    Prior: Q4 2025 Earnings Reported 3/3/2026

    Forward GuidanceGuidance Change
    MetricSourceLowMidHigh% Chg% DeltaChangePrior
    Q1 2026 Debt Facility DrawdownReported 100.00 Mil    
    2026 Debt Facility AvailabilityReported 150.00 Mil    

    Q4 2025 Earnings Reported 1/12/2026

    Forward GuidanceGuidance Change
    MetricSourceLowMidHigh% Chg% DeltaChangePrior
    2027 Cash RunwayReported 2027    

    Q3 2025 Earnings Reported 11/14/2025

    Forward GuidanceGuidance Change
    MetricSourceLowMidHigh% Chg% DeltaChangePrior
    2025 Cash from warrantsReported 60.00 Mil    

    Insider Activity

    Updated 9/25/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Flier, Jeffrey S DirectSell706202653.883,053164,4901,500,832Form
    2Burow, Kristina DirectSell706202653.743,053164,0646,161,502Form
    3Reed, Joshua DirectSell706202653.743,053164,0671,048,892Form
    4Peng, Katie DirectSell706202653.885,446293,4051,847,974Form
    5Gilman, Michael DirectSell706202653.872,544137,0583,206,154Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Flier, Jeffrey S DirectSell706202653.883,053164,4901,500,832Form
    2Burow, Kristina DirectSell706202653.743,053164,0646,161,502Form
    3Reed, Joshua DirectSell706202653.743,053164,0671,048,892Form
    4Peng, Katie DirectSell706202653.885,446293,4051,847,974Form
    5Gilman, Michael DirectSell706202653.872,544137,0583,206,154Form
    6Woods, KeithChief Operating OfficerDirectSell420202649.5710,220506,65130,738,917Form
    7Vaishnaw, AkshayPresident of R&DDirectSell420202649.5712,246607,08931,258,804Form
    8Sinha, VikasChief Financial OfficerDirectSell420202649.5710,410516,07130,729,051Form
    9Hallal, DavidChief Executive OfficerDirectSell420202649.5730,6151,517,72381,254,291Form
    10Qatanani, MoCHIEF SCIENTIFIC OFFICERDirectSell225202647.078,484399,3514,633,909Form
    11Parlavecchio, CarynCHRODirectSell219202646.539,035420,3827,867,314Form
    12Qatanani, MoCHIEF SCIENTIFIC OFFICERDirectSell219202646.537,989371,7144,975,214Form
    13Marantz, Jing LCHIEF MEDICAL OFFICERDirectSell219202646.534,157193,4185,863,112Form
    14Ho, JunlinGENERAL COUNSELDirectSell219202646.539,580445,74011,238,654Form
    15Qatanani, MoCHIEF SCIENTIFIC OFFICERDirectSell123202646.7114,898695,9384,001,477Form
    16Qatanani, MoCHIEF SCIENTIFIC OFFICERDirectSell121202644.488,406373,8804,472,589Form
    17Parlavecchio, CarynCHRODirectSell121202644.486,600293,5536,621,128Form
    18Marantz, Jing LCHIEF MEDICAL OFFICERDirectSell121202644.485,798257,8824,255,938Form
    19Ho, JunlinGENERAL COUNSELDirectSell121202644.488,016356,5339,542,824Form
    20Qatanani, MoCHIEF SCIENTIFIC OFFICERDirectSell116202645.2013,112592,6114,924,748Form
    21Sinha, VikasChief Financial OfficerDirectSell115202642.7016,755715,43824,904,562Form
    22Woods, KeithChief Operating OfficerDirectSell115202642.7016,746715,05424,904,946Form
    23Vaishnaw, AkshayPresident of R&DDirectSell115202642.7020,438872,70325,439,251Form
    24Hallal, DavidChief Executive OfficerDirectSell115202642.7057,4502,453,11565,828,242Form
    25Peng, KatieDirectSell1218202544.091,00644,3521,450,820Form
    26Akkaraju, SrinivasSamsara Opportunity Fund, L.P.Buy1216202539.9229,5991,181,63421,159,862Form
    27Qatanani, MoCHIEF SCIENTIFIC OFFICERDirectSell1205202545.21136,4626,169,7884,926,535Form
    28Akkaraju, SrinivasSamsara Opportunity Fund, L.P.Buy1007202538.65113,0254,368,80819,343,703Form
    29Akkaraju, SrinivasSamsara Opportunity Fund, L.P.Buy1007202537.27387,41414,438,54414,438,544Form
    30Qatanani, MoCHIEF SCIENTIFIC OFFICERDirectSell924202530.673,353102,8463,342,242Form
    31Peng, KatieDirectSell917202532.531,00632,7261,103,240Form
    32Qatanani, MoCHIEF SCIENTIFIC OFFICERDirectSell917202533.523,178106,5273,764,866Form

    Investor Activity (13F)

    Updated Oct 7, 2026
    13F holdings as of Mar 31, 2026 (Q1 2026)

    Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Samsara Biocapital, LLC$339.1 Mil32.9%22Hold13F
    Redmile Group, LLC$445.7 Mil29.5%35ADD +73.7%13F
    Siren, L.L.C.$532.2 Mil14.8%102Hold13F
    Eagle Health Investments LP$24.3 Mil5.1%26ADD +36.0%13F
    First Turn Management, LLC$21.9 Mil2.5%33Hold13F
    Casdin Capital, LLC$17.2 Mil1.3%40ADD +34.6%13F
    Paradigm Biocapital Advisors LP$60.3 Mil1.2%35TRIM -60.0%13F
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Redmile Group, LLC$445.7 Mil29.5%35ADD +73.7%13F
    Eagle Health Investments LP$24.3 Mil5.1%26ADD +36.0%13F
    Casdin Capital, LLC$17.2 Mil1.3%40ADD +34.6%13F
    Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
    Nationale-Nederlanden Powszechne Towarzystwo Emerytalne S.A.$33.9 Mil3.0%48ExitedDec 31, 202513F
    Paradigm Biocapital Advisors LP$60.3 Mil1.2%35TRIM -60.0%Mar 31, 202613F
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Siren, L.L.C.$532.2 Mil14.8%102Hold13F
    Redmile Group, LLC$445.7 Mil29.5%35ADD +73.7%13F
    Samsara Biocapital, LLC$339.1 Mil32.9%22Hold13F
    Paradigm Biocapital Advisors LP$60.3 Mil1.2%35TRIM -60.0%13F
    Eagle Health Investments LP$24.3 Mil5.1%26ADD +36.0%13F
    First Turn Management, LLC$21.9 Mil2.5%33Hold13F
    Casdin Capital, LLC$17.2 Mil1.3%40ADD +34.6%13F

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    Core Cache Last Updated: 10/6/2026