David A. Siegel Biotechnology

Two Sigma Advisers, LP

$46.1 Billion
Q2 2025

Stock List

Stock	Market Cap.	Holding Value (Reported)	# of Shares.	Last Trade
AMLX Amylyx Pharmaceuticals, Inc.	$481M	$3.01 Million 0.01% of portfolio	470,000	Q2 2025 Reduced 27.67%
XENE Xenon Pharmaceuticals Inc.	$2.24B	$2.98 Million 0.01% of portfolio	95,300	Q2 2025 Reduced 68.11%
HRMY Harmony Biosciences Holdings, Inc.	$2.1B	$2.93 Million 0.01% of portfolio	92,700	Q2 2025 Reduced 34.16%
PTCT Ptc Therapeutics, Inc.	$3.24B	$2.92 Million 0.01% of portfolio	59,742	Q2 2025 Reduced 68.46%
FDMT 4 D Molecular Therapeutics, Inc.	$199M	$2.76 Million 0.01% of portfolio	743,400	Q2 2025 Added 51.59%
KURA Kura Oncology, Inc.	$415M	$2.55 Million 0.01% of portfolio	442,500	Q2 2025 Added 58.83%
AVIR Atea Pharmaceuticals, Inc.	$292M	$2.52 Million 0.01% of portfolio	700,900	Q2 2025 Added 31.5%
RCUS Arcus Biosciences, Inc.	$698M	$2.41 Million 0.01% of portfolio	295,800	Q2 2025 Added 138.36%
BMRN Biomarin Pharmaceutical Inc	$10.6B	$2.18 Million 0.0% of portfolio	39,714	Q2 2025 Reduced 91.5%
ZLAB Zai Lab LTD	$3.36B	$2.1 Million 0.0% of portfolio	60,100	Q2 2025 Added 57.33%
EDIT Editas Medicine, Inc.	$157M	$2.07 Million 0.0% of portfolio	940,600	Q2 2025 Reduced 22.58%
GOSS Gossamer Bio, Inc.	$181M	$2.06 Million 0.0% of portfolio	1,672,200	Q2 2025 Added 29.91%
ALLO Allogene Therapeutics, Inc.	$148M	$2 Million 0.0% of portfolio	1,767,400	Q2 2025 Reduced 19.69%
CRNX Crinetics Pharmaceuticals, Inc.	$1.53B	$1.94 Million 0.0% of portfolio	67,300	Q2 2025 Added 968.25%
CRBU Caribou Biosciences, Inc.	$109M	$1.82 Million 0.0% of portfolio	1,447,800	Q2 2025 Reduced 3.94%
SAGE Sage Therapeutics, Inc.	$516M	$1.81 Million 0.0% of portfolio	198,799	Q2 2025 Reduced 38.83%
UTHR United Therapeutics Corp	$13.7B	$1.81 Million 0.0% of portfolio	6,300	Q2 2025 Reduced 31.52%
SAVA Cassava Sciences Inc	$93M	$1.78 Million 0.0% of portfolio	983,600	Q2 2025 Added 8.25%
INSM Insmed Inc	$16.5B	$1.76 Million 0.0% of portfolio	17,500	Q2 2025 Reduced 88.87%
VIR Vir Biotechnology, Inc.	$578M	$1.59 Million 0.0% of portfolio	314,900	Q2 2025 Added 179.41%
AUPH Aurinia Pharmaceuticals Inc.	$1.61B	$1.51 Million 0.0% of portfolio	178,000	Q2 2025 Added 39.06%
ZNTL Zentalis Pharmaceuticals, Inc.	$80.3M	$1.48 Million 0.0% of portfolio	1,275,914	Q2 2025 Added 51.43%
ETON Eton Pharmaceuticals, Inc.	$438M	$1.44 Million 0.0% of portfolio	100,900	Q2 2025 Added 90.02%
ABSI Absci Corp	$276M	$1.34 Million 0.0% of portfolio	521,000	Q2 2025 Added 13.38%
VRDN Viridian Therapeutics, Inc.\De	$717M	$1.31 Million 0.0% of portfolio	93,800	Q2 2025 Reduced 51.47%
VRNA Verona Pharma PLC	$6.41B	$1.29 Million 0.0% of portfolio	13,600	Q2 2025 New
OMER Omeros Corp	$262M	$1.27 Million 0.0% of portfolio	422,800	Q2 2025 Added 2,627.74%
TERN Terns Pharmaceuticals, Inc.	$246M	$1.18 Million 0.0% of portfolio	316,836	Q2 2025 Added 189.08%
CCCC C4 Therapeutics, Inc.	$110M	$1.16 Million 0.0% of portfolio	811,400	Q2 2025 Added 1.35%
SEER Seer, Inc.	$129M	$1.11 Million 0.0% of portfolio	519,800	Q2 2025 Reduced 7.97%
HRTX Heron Therapeutics, Inc.	$156M	$1.1 Million 0.0% of portfolio	533,771	Q2 2025 Reduced 20.23%
MGNX Macrogenics Inc	$90.3M	$1.04 Million 0.0% of portfolio	857,100	Q2 2025 Reduced 19.76%
RGNX Regenxbio Inc.	$350M	$1.03 Million 0.0% of portfolio	124,900	Q2 2025 Reduced 36.6%
ENTA Enanta Pharmaceuticals Inc	$142M	$1.01 Million 0.0% of portfolio	133,600	Q2 2025 Reduced 8.56%
NUVB Nuvation Bio Inc.	$504M	$887,000 0.0% of portfolio	454,900	Q2 2025 Added 26.78%
CRVS Corvus Pharmaceuticals, Inc.	$209M	$850,000 0.0% of portfolio	212,700	Q2 2025 Reduced 10.03%
PRTA Prothena Corp Public LTD CO	$354M	$848,000 0.0% of portfolio	139,800	Q2 2025 New
PBYI Puma Biotechnology, Inc.	$222M	$842,000 0.0% of portfolio	245,700	Q2 2025 Reduced 0.45%
KOD Kodiak Sciences Inc.	$443M	$837,000 0.0% of portfolio	224,600	Q2 2025 Reduced 22.34%
TYRA Tyra Biosciences, Inc.	$445M	$832,000 0.0% of portfolio	87,000	Q2 2025 Added 73.65%
CLDX Celldex Therapeutics, Inc.	$1.11B	$826,000 0.0% of portfolio	40,600	Q2 2025 New
HUMA Humacyte, Inc.	$185M	$767,000 0.0% of portfolio	367,100	Q2 2025 Added 723.09%
NUVL Nuvalent, Inc.	$3.29B	$686,000 0.0% of portfolio	9,000	Q2 2025 Reduced 91.12%
SGMO Sangamo Therapeutics, Inc	$81.4M	$651,000 0.0% of portfolio	1,206,734	Q2 2025 Added 34.19%
CRDF Cardiff Oncology, Inc.	$105M	$647,000 0.0% of portfolio	205,600	Q2 2025 Added 1,074.86%
ARCT Arcturus Therapeutics Holdings Inc.	$396M	$630,000 0.0% of portfolio	48,500	Q2 2025 New
CABA Cabaletta Bio, Inc.	$38.6M	$628,000 0.0% of portfolio	413,600	Q2 2025 Reduced 12.28%
OLMA Olema Pharmaceuticals, Inc.	$215M	$615,000 0.0% of portfolio	144,400	Q2 2025 Added 4.64%
RYTM Rhythm Pharmaceuticals, Inc.	$5.51B	$612,000 0.0% of portfolio	9,700	Q2 2025 Reduced 19.83%
CAPR Capricor Therapeutics, Inc.	$196M	$601,000 0.0% of portfolio	60,622	Q2 2025 New

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David A. Siegel

David A. Siegel is the co-founder and CEO of Two Sigma Advisers, a successful investment firm that uses technology and data-driven approaches to investing. Siegel is known for his expertise in quantitative investing and his innovative approach to investing. He has generated strong returns for his clients over the long term.

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