# EDGAR Filing Document

**Accession Number:** 0001346824
**File Stem:** 0001104659-26-016482
**Filing Date:** 2026-2
**Character Count:** 11984
**Document Hash:** 42f3eb5ff8d310a453bddfd0b3aad239
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-016482.hdr.sgml**: 20260217

**ACCESSION NUMBER**: 0001104659-26-016482

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260217

**DATE AS OF CHANGE**: 20260217

**EFFECTIVENESS DATE**: 20260217

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RA CAPITAL MANAGEMENT, L.P.
- **CENTRAL INDEX KEY:** 0001346824

**ORGANIZATION NAME:**
- **EIN:** 830406777
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-12884
- **FILM NUMBER:** 26642246

**BUSINESS ADDRESS:**
- **STREET 1:** 200 BERKELEY STREET, 18TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116
- **BUSINESS PHONE:** 617-778-2500

**MAIL ADDRESS:**
- **STREET 1:** 200 BERKELEY STREET, 18TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RA CAPITAL MANAGEMENT, LLC
- **DATE OF NAME CHANGE:** 20051213

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** RA CAPITAL MANAGEMENT L.P.<br>**Address:** 200 BERKELEY STREET 18TH FLOOR<br>BOSTON, MA 02116

**Form 13F File Number:** 028-12884

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Rajeev Shah<br>**Title:** Authorized Signatory<br>**Phone:** 617-778-2500

**Signature, Place, and Date of Signing:**

/s/ Rajeev Shah  Boston, MA  02-17-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 72

**Form 13F Information Table Value Total:** $9760868193

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ACUMEN PHARMACEUTICALS INC | SH | 00509G209 | BBG0058YJ317 | 31506653 | 14932063 | SH |  | SOLE |  | 14932063 | 0 | 0 |
| ADICET BIO INC | SH | 007002207 | BBG00JCXSJP3 | 7984257 | 948249 | SH |  | SOLE |  | 948249 | 0 | 0 |
| ARCELLX INC | SH | 03940C100 | BBG00QHJM4S9 | 82618571 | 1267156 | SH |  | SOLE |  | 1267156 | 0 | 0 |
| ACRIVON THERAPEUTICS INC | SH | 004890109 | BBG011RWR2Q4 | 20100624 | 8340508 | SH |  | SOLE |  | 8340508 | 0 | 0 |
| ARTIVA BIOTHERAPEUTICS INC | SH | 04317A107 | BBG00VPZJ0F9 | 42270666 | 9853302 | SH |  | SOLE |  | 9853302 | 0 | 0 |
| ASSEMBLY BIOSCIENCES INC | SH | 045396207 | BBG000R62Q06 | 34704144 | 1020410 | SH |  | SOLE |  | 1020410 | 0 | 0 |
| ASCENDIS PHARMA A/S - ADR | SH | 04351P101 | BBG007R7VNC1 | 2192426207 | 10281496 | SH |  | SOLE |  | 10281496 | 0 | 0 |
| AVALO THERAPEUTICS INC | SH | 05338F306 | BBG001QHW0Y8 | 12039499 | 662968 | SH |  | SOLE |  | 662968 | 0 | 0 |
| BICARA THERAPEUTICS INC | SH | 055477103 | BBG00Z15DGK7 | 117069362 | 6955993 | SH |  | SOLE |  | 6955993 | 0 | 0 |
| BIOCRYST PHARMACEUTICALS INC | SH | 09058V103 | BBG000BLYWX6 | 123452051 | 15827186 | SH |  | SOLE |  | 15827186 | 0 | 0 |
| BELITE BIO INC - ADR | SH | 07782B104 | BBG016LJYT18 | 69180141 | 432484 | SH |  | SOLE |  | 432484 | 0 | 0 |
| CAPRICOR THERAPEUTICS INC | SH | 14070B309 | BBG000DZMK99 | 43516378 | 1507844 | SH |  | SOLE |  | 1507844 | 0 | 0 |
| C4 THERAPEUTICS INC | SH | 12529R107 | BBG00BV2Y9B7 | 15280000 | 8000000 | SH |  | SOLE |  | 8000000 | 0 | 0 |
| CIDARA THERAPEUTICS INC | SH | 171757206 | BBG006R5MFT6 | 743410375 | 3365523 | SH |  | SOLE |  | 3365523 | 0 | 0 |
| CONTINEUM THERAPEUTICS INC-A | SH | 21217B100 | BBG01M27SVP6 | 24914097 | 2179711 | SH |  | SOLE |  | 2179711 | 0 | 0 |
| DIANTHUS THERAPEUTICS INC | SH | 252828108 | BBG00FB2NPZ0 | 66419517 | 1611733 | SH |  | SOLE |  | 1611733 | 0 | 0 |
| DESIGN THERAPEUTICS INC | SH | 25056L103 | BBG00SNC49V8 | 13707754 | 1461381 | SH |  | SOLE |  | 1461381 | 0 | 0 |
| CLIMB BIO INC | SH | 28658R106 | BBG00ZNKL0K6 | 35255824 | 8813956 | SH |  | SOLE |  | 8813956 | 0 | 0 |
| CLIMB BIO INC | SH | 28658R106 | BBG00ZNKL0K6 | 42455409 | 2479872 | SH |  | OTR |  | 2479872 | 0 | 0 |
| EDGEWISE THERAPEUTICS INC | SH | 28036F105 | BBG00K4Y2H24 | 258781664 | 10428437 | SH |  | SOLE |  | 10428437 | 0 | 0 |
| 4D MOLECULAR THERAPEUTICS IN | SH | 35104E100 | BBG00QG40R88 | 42399083 | 5653211 | SH |  | SOLE |  | 5653211 | 0 | 0 |
| FULCRUM THERAPEUTICS INC | SH | 359616109 | BBG00DDY1RK9 | 68470288 | 6053960 | SH |  | SOLE |  | 6053960 | 0 | 0 |
| GERON CORP | SH | 374163103 | BBG000GX1891 | 84178203 | 63771366 | SH |  | SOLE |  | 63771366 | 0 | 0 |
| GH RESEARCH PLC | SH | G3855L106 | BBG011BQC379 | 97494052 | 7676697 | SH |  | SOLE |  | 7676697 | 0 | 0 |
| HEALTH CATALYST INC | SH | 42225T107 | BBG00LDPZMS6 | 1897060 | 793749 | SH |  | SOLE |  | 793749 | 0 | 0 |
| HINGE HEALTH INC-A | SH | 433313103 | BBG00H8V6LH4 | 3721249 | 80113 | SH |  | SOLE |  | 80113 | 0 | 0 |
| WEREWOLF THERAPEUTICS INC | SH | 95075A107 | BBG00QXQ9XK4 | 4232608 | 6681307 | SH |  | SOLE |  | 6681307 | 0 | 0 |
| INSPIRE MEDICAL SYSTEMS INC | SH | 457730109 | BBG00209SZJ7 | 13093340 | 141964 | SH |  | SOLE |  | 141964 | 0 | 0 |
| DISC MEDICINE INC | SH | 254604101 | BBG00W9MJK79 | 156924642 | 1976132 | SH |  | SOLE |  | 1976132 | 0 | 0 |
| INVIVYD INC | SH | 00534A102 | BBG00W4ML039 | 42284167 | 17119096 | SH |  | SOLE |  | 17119096 | 0 | 0 |
| JANUX THERAPEUTICS INC | SH | 47103J105 | BBG00ZHSKH11 | 154417763 | 11189693 | SH |  | SOLE |  | 11189693 | 0 | 0 |
| JADE BIOSCIENCES INC | SH | 008064206 | BBG00WGHZFH4 | 56644811 | 3671083 | SH |  | SOLE |  | 3671083 | 0 | 0 |
| ORTHOPEDIATRICS CORP | SH | 68752L100 | BBG00HFFRW39 | 1952872 | 109959 | SH |  | SOLE |  | 109959 | 0 | 0 |
| LB PHARMACEUTICALS INC | SH | 50180M108 | BBG00XNP5MQ4 | 49163525 | 2208604 | SH |  | SOLE |  | 2208604 | 0 | 0 |
| LENZ THERAPEUTICS INC | SH | 52635N103 | BBG00XDH4NZ2 | 66861168 | 4178823 | SH |  | SOLE |  | 4178823 | 0 | 0 |
| LEXEO THERAPEUTICS INC | SH | 52886X107 | BBG00YB1C8M5 | 49650000 | 5000000 | SH |  | SOLE |  | 5000000 | 0 | 0 |
| MEDLINE INC-CL A | SH | 58507V107 | BBG01Y6778L4 | 14070000 | 335000 | SH |  | SOLE |  | 335000 | 0 | 0 |
| MINERALYS THERAPEUTICS INC | SH | 603170101 | BBG00ZXN1GN3 | 265778888 | 7323750 | SH |  | SOLE |  | 7323750 | 0 | 0 |
| MONOPAR THERAPEUTICS INC | SH | 61023L207 | BBG00J7K8D90 | 43568617 | 667207 | SH |  | SOLE |  | 667207 | 0 | 0 |
| NEWAMSTERDAM PHARMA CO NV | SH | N62509109 | BBG01BNNTQN4 | 335020700 | 9550191 | SH |  | SOLE |  | 9550191 | 0 | 0 |
| NEWAMSTERDAM PHARMA CO NV-27 | SH | N62509117 | BBG01BNP2MK0 | 7666659 | 333333 | SH |  | SOLE |  | 333333 | 0 | 0 |
| NKARTA INC | SH | 65487U108 | BBG00JXHS9G7 | 19989489 | 10805129 | SH |  | SOLE |  | 10805129 | 0 | 0 |
| NUVALENT INC-A | SH | 670703107 | BBG00Z1SLMK5 | 189114934 | 1880057 | SH |  | SOLE |  | 1880057 | 0 | 0 |
| OLEMA PHARMACEUTICALS INC | SH | 68062P106 | BBG00T5JMRT4 | 65000000 | 2600000 | SH |  | SOLE |  | 2600000 | 0 | 0 |
| PALISADE BIO INC | SH | 696389402 | BBG000QG4DJ2 | 16741673 | 7124116 | SH |  | SOLE |  | 7124116 | 0 | 0 |
| PERCEPTIVE CAPITAL SOLUTIONS | SH | G70077105 | BBG01N0FG6L0 | 9772500 | 750000 | SH |  | SOLE |  | 750000 | 0 | 0 |
| VAXCYTE INC | SH | 92243G108 | BBG009PHHPL8 | 494832998 | 10724599 | SH |  | SOLE |  | 10724599 | 0 | 0 |
| PEPGEN INC | SH | 713317105 | BBG012232618 | 130620188 | 20064545 | SH |  | SOLE |  | 20064545 | 0 | 0 |
| PROGYNY INC | SH | 74340E103 | BBG002H1K1H1 | 2481407 | 96628 | SH |  | SOLE |  | 96628 | 0 | 0 |
| PRAXIS PRECISION MEDICINES I | SH | 74006W207 | BBG00W9LF2G5 | 110169980 | 373787 | SH |  | SOLE |  | 373787 | 0 | 0 |
| PALATIN TECHNOLOGIES INC | SH | 696077601 | BBG000BN9PY4 | 1076600 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| QIAGEN N.V. | SH | N72482206 | BBG01T6H99H4 | 2081683 | 43976 | SH |  | SOLE |  | 43976 | 0 | 0 |
| RANI THERAPEUTICS HOLDINGS-A | SH | 753018100 | BBG011R6PZ44 | 11475000 | 8500000 | SH |  | SOLE |  | 8500000 | 0 | 0 |
| AVIDITY BIOSCIENCES INC | SH | 05370A108 | BBG00FQ7LXW1 | 623277566 | 8641031 | SH |  | SOLE |  | 8641031 | 0 | 0 |
| RHYTHM PHARMACEUTICALS INC | SH | 76243J105 | BBG007DLZ601 | 713618232 | 6666837 | SH |  | SOLE |  | 6666837 | 0 | 0 |
| REZOLUTE INC | SH | 76200L309 | BBG001XWWHL4 | 21664800 | 9180000 | SH |  | SOLE |  | 9180000 | 0 | 0 |
| SAB BIOTHERAPEUTICS INC | SH | 78397T202 | BBG00YHY0G24 | 16461610 | 4401500 | SH |  | SOLE |  | 4401500 | 0 | 0 |
| SEPTERNA INC | SH | 81734D104 | BBG014WY1V28 | 195044521 | 6995858 | SH |  | SOLE |  | 6995858 | 0 | 0 |
| SIONNA THERAPEUTICS INC | SH | 829401108 | BBG016X2DC85 | 407493551 | 9905045 | SH |  | SOLE |  | 9905045 | 0 | 0 |
| SOLID BIOSCIENCES INC | SH | 83422E204 | BBG00JN4FXG8 | 32776426 | 5811423 | SH |  | SOLE |  | 5811423 | 0 | 0 |
| ARS PHARMACEUTICALS INC | SH | 82835W108 | BBG00FZQGXG3 | 126530382 | 10860977 | SH |  | SOLE |  | 10860977 | 0 | 0 |
| SPYRE THERAPEUTICS INC | SH | 00773J202 | BBG0067L94B2 | 53124271 | 1621620 | SH |  | SOLE |  | 1621620 | 0 | 0 |
| TAYSHA GENE THERAPIES INC | SH | 877619106 | BBG00TJXFDP1 | 129556064 | 23555648 | SH |  | SOLE |  | 23555648 | 0 | 0 |
| TYRA BIOSCIENCES INC | SH | 90240B106 | BBG00RCQD9D1 | 320701851 | 12198625 | SH |  | SOLE |  | 12198625 | 0 | 0 |
| VOR BIOPHARMA INC | SH | 929033207 | BBG00NBJRDT6 | 70697374 | 5404998 | SH |  | SOLE |  | 5404998 | 0 | 0 |
| WAYSTAR HOLDING CORP | SH | 946784105 | BBG01JRQSDB9 | 4729100 | 144400 | SH |  | SOLE |  | 144400 | 0 | 0 |
| GENEDX HOLDINGS CORP | SH | 81663L200 | BBG00XDHY5P9 | 7549203 | 58044 | SH |  | SOLE |  | 58044 | 0 | 0 |
| WAVE LIFE SCIENCES LTD | SH | Y95308105 | BBG00B642V54 | 309451153 | 18203009 | SH |  | SOLE |  | 18203009 | 0 | 0 |
| OVID THERAPEUTICS INC | SH | 690469101 | BBG009F0TD76 | 17463820 | 10714000 | SH |  | SOLE |  | 10714000 | 0 | 0 |
| GRAIL INC | SH | 384747101 | BBG01N6CGW43 | 36655287 | 428266 | SH |  | SOLE |  | 428266 | 0 | 0 |
| BENITEC BIOPHARMA INC | SH | 08205P209 | BBG00R712L56 | 24919500 | 1850000 | SH |  | SOLE |  | 1850000 | 0 | 0 |
| EVOMMUNE INC | SH | 30054Y107 | BBG00Y79N887 | 59214142 | 3458770 | SH |  | SOLE |  | 3458770 | 0 | 0 |

---