Stonepine Capital Management 13F annual report

Stonepine Capital Management is an investment fund managing more than $109 billion ran by Jon Plexico. There are currently 25 companies in Mr. Plexico’s portfolio. The largest investments include Adma Biologics Inc and Alimera Sciences, together worth $40.4 billion.

$109 billion Assets Under Management (AUM)

As of 6th August 2024, Stonepine Capital Management’s top holding is 1,870,000 shares of Adma Biologics Inc currently worth over $20.9 billion and making up 19.2% of the portfolio value. Relative to the number of outstanding shares of Adma Biologics Inc, Stonepine Capital Management owns more than approximately 0.1% of the company. In addition, the fund holds 3,511,816 shares of Alimera Sciences worth $19.5 billion, whose value grew 48.1% in the past six months. The third-largest holding is Evolus Inc worth $18 billion and the next is Galapagos Nv-spon Adr worth $12 billion, with 485,000 shares owned.

Currently, Stonepine Capital Management's portfolio is worth at least $109 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Stonepine Capital Management

The Stonepine Capital Management office and employees reside in Bend, Oregon. According to the last 13-F report filed with the SEC, Jon Plexico serves as the Managing Member at Stonepine Capital Management.

Recent trades

In the most recent 13F filing, Stonepine Capital Management revealed that it had opened a new position in Revance Therapeutics Inc and bought 2,800,000 shares worth $7.2 billion. This means they effectively own approximately 0.1% of the company. Revance Therapeutics Inc makes up 8.2% of the fund's Health Care sector allocation and has decreased its share price by approximately 0.1% in the past year.

The investment fund also strengthened its position in Galapagos Nv-spon Adr by buying 223,130 additional shares. This makes their stake in Galapagos Nv-spon Adr total 485,000 shares worth $12 billion.

On the other hand, there are companies that Stonepine Capital Management is getting rid of from its portfolio. Stonepine Capital Management closed its position in Amylyx Pharmaceuticals Inc on 13th August 2024. It sold the previously owned 2,500,000 shares for $36.8 billion. Jon Plexico also disclosed a decreased stake in Adma Biologics Inc by 0.8%. This leaves the value of the investment at $20.9 billion and 1,870,000 shares.

One of the smallest hedge funds

The two most similar investment funds to Stonepine Capital Management are Integrity Advisory and Euclidean Technologies Management. They manage $109 billion and $109 billion respectively.

Jon Plexico investment strategy

Stonepine Capital Management’s portfolio is diversified across 2 sectors. Currently, their heaviest sector is Health Care — making up 80.2% of the total portfolio value. The fund focuses on investments in the United States as 68.0% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are small-cap stocks. Stocks with a size of more than $100 million in market cap make up 20% of the total holdings value. On the other hand, large-cap stocks make up only approximately 0.1% of the portfolio. The average market cap of the portfolio companies is close to $581 million.

The complete list of Stonepine Capital Management trades based on 13F SEC filings

These positions were updated on August 13th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security	Shares Owned	Value	Allocation
Amylyx Pharmaceuticals Inc	Closed 2,500,000	$36,800,000,000
QuidelOrtho Corporation	Closed 450,000	$33,165,000,000
Adma Biologics Inc	79.72% 1,870,000	$20,906,600,000	19.20%
Alimera Sciences Inc.	12.19% 3,511,816	$19,525,697,000	17.93%
Evolus Inc	68.92% 1,657,611	$17,985,079,000	16.52%
Xeris Biopharma Holdings Inc	Closed 5,937,000	$13,951,950,000
Galapagos Nv-spon Adr	85.21% 485,000	$12,018,300,000	11.04%
Revance Therapeutics Inc	Opened 2,800,000	$7,196,000,000	6.61%
Xoma Corp	0.05% 250,129	$5,925,556,000	5.44%
Anika Therapeutics Inc.	Opened 165,397	$4,189,506,000	3.85%
Io Biotech Inc	Closed 1,666,037	$3,132,150,000
Scynexis Inc	Closed 1,355,186	$3,022,065,000
TELA Bio, Inc.	96.88% 625,645	$2,940,532,000	2.70%
Rezolute Inc	Closed 2,768,656	$2,747,891,000
Atea Pharmaceuticals, Inc.	Closed 839,514	$2,560,518,000
Rigel Pharmaceuticals	Opened 305,000	$2,507,100,000	2.30%
OptiNose Inc	Opened 2,350,010	$2,444,010,000	2.24%
Aclaris Therapeutics Inc	Opened 1,927,446	$2,120,191,000	1.95%
scPharmaceuticals Inc	Opened 421,703	$1,834,408,000	1.68%
Aurinia Pharmaceuticals Inc	Opened 300,000	$1,713,000,000	1.57%
Milestone Pharmaceuticals In	Opened 1,239,199	$1,635,743,000	1.50%
Aytu BioPharma Inc	No change 472,469	$1,379,609,000	1.27%
Kiora Pharmaceuticals Inc	Opened 200,000	$840,000,000	0.77%
Adicet Bio Inc	Opened 609,446	$737,430,000	0.68%
Atyr Pharma Inc	Closed 482,258	$679,984,000
Exagen Inc	46.44% 358,697	$652,829,000	0.60%
Kezar Life Sciences Inc	Opened 1,050,452	$630,271,000	0.58%
Aprea Therapeutics, Inc.	Opened 137,174	$558,298,000	0.51%
2seventy Bio Inc	Opened 100,000	$385,000,000	0.35%
Eton Pharmaceuticals, Inc.	Opened 110,000	$361,900,000	0.33%
Ironwood Pharmaceuticals Inc	Opened 48,012	$313,038,000	0.29%
Acadia Pharmaceuticals Inc	Opened 5,000	$81,250,000	0.07%
Surrozen Inc	Opened 1,584	$17,345,000	0.02%
No transactions found
Showing first 500 out of 33 holdings