# EDGAR Filing Document

**Accession Number:** 0001802630
**File Stem:** 0001802630-25-000008
**Filing Date:** 2025-8
**Character Count:** 13378
**Document Hash:** 8bac542a9e524656ad18d384ebbba257
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001802630-25-000008.hdr.sgml**: 20250815

**ACCESSION NUMBER**: 0001802630-25-000008

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250815

**DATE AS OF CHANGE**: 20250814

**EFFECTIVENESS DATE**: 20250815

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Soleus Capital Management, L.P.
- **CENTRAL INDEX KEY:** 0001802630

**ORGANIZATION NAME:**
- **EIN:** 384052641
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-20043
- **FILM NUMBER:** 251222006

**BUSINESS ADDRESS:**
- **STREET 1:** 104 FIELD POINT ROAD
- **STREET 2:** FLOOR 2
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830
- **BUSINESS PHONE:** 203-542-5527

**MAIL ADDRESS:**
- **STREET 1:** 104 FIELD POINT ROAD
- **STREET 2:** FLOOR 2
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**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:** Soleus Capital Management L.P.<br>**Address:** 104 FIELD POINT ROAD<br>FLOOR 2<br>GREENWICH, CT 06830

**Form 13F File Number:** 028-20043

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:** Harold Schaaff<br>**Title:** Chief Compliance Officer Soleus Capital Management L.P.<br>**Phone:** 475-284-2761

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

/s/ Harold Schaaff  Greenwich, CT  08-14-2025<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:** 95

**Form 13F Information Table Value Total:** $1510110641

      (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 |
| ABIVAX SA | SPONSORED ADS | 00370M103 |  | 956250 | 125000 | SH |  | SOLE |  | 125000 | 0 | 0 |
| ADAPTIVE BIOTECHNOLOGIES COR | COM | 00650F109 |  | 116500 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| ADMA BIOLOGICS INC | COM | 000899104 |  | 3186750 | 175000 | SH |  | SOLE |  | 175000 | 0 | 0 |
| ADVERUM BIOTECHNOLOGIES INC | COM NEW | 00773U207 |  | 617579 | 287246 | SH |  | SOLE |  | 287246 | 0 | 0 |
| AKERO THERAPEUTICS INC | COM | 00973Y108 |  | 3841920 | 72000 | SH |  | SOLE |  | 72000 | 0 | 0 |
| ALNYLAM PHARMACEUTICALS INC | COM | 02043Q107 |  | 34810108 | 106750 | SH |  | SOLE |  | 106750 | 0 | 0 |
| ANAPTYSBIO INC | COM | 032724106 |  | 7127088 | 321040 | SH |  | SOLE |  | 321040 | 0 | 0 |
| ANI PHARMACEUTICALS INC | COM | 00182C103 |  | 3310981 | 50743 | SH |  | SOLE |  | 50743 | 0 | 0 |
| ARCELLX INC | COMMON STOCK | 03940C100 |  | 8101591 | 123031 | SH |  | SOLE |  | 123031 | 0 | 0 |
| ARGENX SE | SPONSORED ADR | 04016X101 |  | 23634109 | 42876 | SH |  | SOLE |  | 42876 | 0 | 0 |
| ASCENDIS PHARMA A/S | SPONSORED ADR | 04351P101 |  | 14671000 | 85000 | SH |  | SOLE |  | 85000 | 0 | 0 |
| AXOGEN INC | COM | 05463X106 |  | 15834436 | 1459395 | SH |  | SOLE |  | 1459395 | 0 | 0 |
| AXSOME THERAPEUTICS INC | COM | 05464T104 |  | 208780 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| BETA BIONICS INC | COM | 08659B102 |  | 55621500 | 3820158 | SH |  | SOLE |  | 3820158 | 0 | 0 |
| BICYCLE THERAPEUTICS PLC | SPONSORED ADS | 088786108 |  | 695000 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| BIOMARIN PHARMACEUTICAL INC | COM | 09061G101 |  | 49599651 | 902304 | SH |  | SOLE |  | 902304 | 0 | 0 |
| C4 THERAPEUTICS INC | COM STK | 12529R107 |  | 9979887 | 6978942 | SH |  | SOLE |  | 6978942 | 0 | 0 |
| CALCIMEDICA INC | COM NEW | 38942Q202 |  | 1254246 | 783904 | SH |  | SOLE |  | 783904 | 0 | 0 |
| CELCUITY INC | COM | 15102K100 |  | 40207770 | 3011818 | SH |  | SOLE |  | 3011818 | 0 | 0 |
| CERIBELL INC | COM | 15678C102 |  | 936500 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| CG ONCOLOGY INC | COM | 156944100 |  | 4030000 | 155000 | SH |  | SOLE |  | 155000 | 0 | 0 |
| CIDARA THERAPEUTICS INC | COM NEW | 171757206 |  | 22543524 | 462811 | SH |  | SOLE |  | 462811 | 0 | 0 |
| CRESCENT BIOPHARMA INC. | COM | G2545C104 |  | 6456000 | 400000 | SH |  | SOLE |  | 400000 | 0 | 0 |
| CYTOMX THERAPEUTICS INC | COM | 23284F105 |  | 2960761 | 1304300 | SH |  | SOLE |  | 1304300 | 0 | 0 |
| DELCATH SYS INC | COM NEW | 24661P807 |  | 340000 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| DENALI THERAPEUTICS INC | COM | 24823R105 |  | 2547719 | 182110 | SH |  | SOLE |  | 182110 | 0 | 0 |
| EDAP TMS S A | SPONSORED ADR | 268311107 |  | 12060269 | 7309254 | SH |  | SOLE |  | 7309254 | 0 | 0 |
| EDGEWISE THERAPEUTICS INC | COM | 28036F105 |  | 1002823 | 76493 | SH |  | SOLE |  | 76493 | 0 | 0 |
| ELEVANCE HEALTH INC | COM | 036752103 |  | 27227200 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| ENOVIS CORPORATION | COM | 194014502 |  | 9878400 | 315000 | SH |  | SOLE |  | 315000 | 0 | 0 |
| ERASCA INC | COM | 29479A108 |  | 2745946 | 2162162 | SH |  | SOLE |  | 2162162 | 0 | 0 |
| ESSA PHARMA INC | COM NEW | 29668H708 |  | 3845444 | 2262026 | SH |  | SOLE |  | 2262026 | 0 | 0 |
| ESTABLISHMENT LABS HLDGS INC | COM | G31249108 |  | 9050249 | 211900 | SH |  | SOLE |  | 211900 | 0 | 0 |
| ETON PHARMACEUTICALS INC | COM | 29772L108 |  | 4061250 | 285000 | SH |  | SOLE |  | 285000 | 0 | 0 |
| EVOLUS INC | COM | 30052C107 |  | 19515990 | 2119000 | SH |  | SOLE |  | 2119000 | 0 | 0 |
| GENEDX HOLDINGS CORP | COM CL A | 81663L200 |  | 3692400 | 40000 | SH |  | SOLE |  | 40000 | 0 | 0 |
| GERON CORP | COM | 374163103 |  | 22757400 | 16140000 | SH |  | SOLE |  | 16140000 | 0 | 0 |
| GRIFOLS S A | SP ADR REP B NVT | 398438408 |  | 52041517 | 5756805 | SH |  | SOLE |  | 5756805 | 0 | 0 |
| HUMANA INC | COM | 444859102 |  | 19460608 | 79600 | SH |  | SOLE |  | 79600 | 0 | 0 |
| IDEAYA BIOSCIENCES INC | COM | 45166A102 |  | 5255000 | 250000 | SH |  | SOLE |  | 250000 | 0 | 0 |
| IMMUNIC INC | COM | 4525EP101 |  | 5086872 | 7293007 | SH |  | SOLE |  | 7293007 | 0 | 0 |
| INHIBIKASE THERAPEUTICS INC | COM NEW | 45719W205 |  | 12333750 | 6325000 | SH |  | SOLE |  | 6325000 | 0 | 0 |
| INSMED INC | COM PAR $.01 | 457669307 |  | 7323774 | 72772 | SH |  | SOLE |  | 72772 | 0 | 0 |
| INSPIRE MED SYS INC | COM | 457730109 |  | 14144930 | 109000 | SH |  | SOLE |  | 109000 | 0 | 0 |
| INSPIREMD INC | COM | 45779A846 |  | 4281690 | 1886207 | SH |  | SOLE |  | 1886207 | 0 | 0 |
| INTEGRA LIFESCIENCES HLDGS C | COM NEW | 457985208 |  | 17028527 | 1387818 | SH |  | SOLE |  | 1387818 | 0 | 0 |
| IO BIOTECH INC | COM | 449778109 |  | 267811 | 192670 | SH |  | SOLE |  | 192670 | 0 | 0 |
| IOVANCE BIOTHERAPEUTICS INC | COM | 462260100 |  | 5610136 | 3261707 | SH |  | SOLE |  | 3261707 | 0 | 0 |
| JADE BIOSCIENCES INC | COM NEW | 008064206 |  | 7959473 | 796744 | SH |  | SOLE |  | 796744 | 0 | 0 |
| JASPER THERAPEUTICS INC | COM NEW | 471871202 |  | 8294031 | 1494420 | SH |  | SOLE |  | 1494420 | 0 | 0 |
| KINIKSA PHARMACEUTICALS INTL | ORD SHS CL A | G52694109 |  | 7047245 | 254689 | SH |  | SOLE |  | 254689 | 0 | 0 |
| KRYSTAL BIOTECH INC | COM | 501147102 |  | 126869807 | 922958 | SH |  | SOLE |  | 922958 | 0 | 0 |
| MADRIGAL PHARMACEUTICALS INC | COM | 558868105 |  | 2421120 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| MEREO BIOPHARMA GROUP PLC | SPON ADS | 589492107 |  | 1625217 | 599711 | SH |  | SOLE |  | 599711 | 0 | 0 |
| MERUS N V | COM | N5749R100 |  | 2104000 | 40000 | SH |  | SOLE |  | 40000 | 0 | 0 |
| MIRUM PHARMACEUTICALS INC | COM | 604749101 |  | 15200639 | 298696 | SH |  | SOLE |  | 298696 | 0 | 0 |
| MURAL ONCOLOGY PUB LTD CO | ORD SHS | G63365103 |  | 3269976 | 1323877 | SH |  | SOLE |  | 1323877 | 0 | 0 |
| MYOMO INC | COM NEW | 62857J201 |  | 1521234 | 704275 | SH |  | SOLE |  | 704275 | 0 | 0 |
| NEUROPACE INC | COM | 641288105 |  | 25766341 | 2312957 | SH |  | SOLE |  | 2312957 | 0 | 0 |
| NOVOCURE LTD | ORD SHS | G6674U108 |  | 122896576 | 6904302 | SH |  | SOLE |  | 6904302 | 0 | 0 |
| NURIX THERAPEUTICS INC | COM | 67080M103 |  | 27596068 | 2422833 | SH |  | SOLE |  | 2422833 | 0 | 0 |
| NUVALENT INC | COM | 670703107 |  | 9537500 | 125000 | SH |  | SOLE |  | 125000 | 0 | 0 |
| ORGANOGENESIS HLDGS INC | COM | 68621F102 |  | 45176665 | 12343351 | SH |  | SOLE |  | 12343351 | 0 | 0 |
| ORTHOFIX MED INC | COM | 68752M108 |  | 2911789 | 261147 | SH |  | SOLE |  | 261147 | 0 | 0 |
| ORTHOPEDIATRICS CORP | COM | 68752L100 |  | 966600 | 45000 | SH |  | SOLE |  | 45000 | 0 | 0 |
| PHARVARIS N V | COM | N69605108 |  | 12900237 | 732968 | SH |  | SOLE |  | 732968 | 0 | 0 |
| PRAXIS PRECISION MEDICINES I | COM NEW | 74006W207 |  | 40651417 | 966740 | SH |  | SOLE |  | 966740 | 0 | 0 |
| QUIDELORTHO CORP | COM | 219798105 |  | 5014680 | 174000 | SH |  | SOLE |  | 174000 | 0 | 0 |
| REVOLUTION MEDICINES INC | COM | 76155X100 |  | 367900 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| RIGEL PHARMACEUTICALS INC | COM | 766559702 |  | 12327056 | 658145 | SH |  | SOLE |  | 658145 | 0 | 0 |
| SCHOLAR ROCK HLDG CORP | COM | 80706P103 |  | 4427500 | 125000 | SH |  | SOLE |  | 125000 | 0 | 0 |
| SEPTERNA INC | COM | 81734D104 |  | 797570 | 75456 | SH |  | SOLE |  | 75456 | 0 | 0 |
| SIONNA THERAPEUTICS INC | COM | 829401108 |  | 6523600 | 376000 | SH |  | SOLE |  | 376000 | 0 | 0 |
| SOLENO THERAPEUTICS INC | COM | 834203309 |  | 837800 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| SPDR SERIES TRUST | S BIOTECH | 78464A870 |  | 62197500 | 750000 | SH | Put | SOLE |  | 750000 | 0 | 0 |
| STAAR SURGICAL CO | COM PAR $0.01 | 852312305 |  | 50083820 | 2984733 | SH |  | SOLE |  | 2984733 | 0 | 0 |
| SURMODICS INC | COM | 868873100 |  | 23442973 | 789060 | SH |  | SOLE |  | 789060 | 0 | 0 |
| SYNDAX PHARMACEUTICALS INC | COM | 87164F105 |  | 10227610 | 1092110 | SH |  | SOLE |  | 1092110 | 0 | 0 |
| TANDEM DIABETES CARE INC | COM NEW | 875372203 |  | 3728000 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| TANGO THERAPEUTICS INC | COM | 87583X109 |  | 3737600 | 730000 | SH |  | SOLE |  | 730000 | 0 | 0 |
| TECTONIC THERAPEUTIC INC | COM | 878972108 |  | 1526831 | 76841 | SH |  | SOLE |  | 76841 | 0 | 0 |
| TERNS PHARMACEUTICALS INC | COM | 880881107 |  | 30463283 | 8167100 | SH |  | SOLE |  | 8167100 | 0 | 0 |
| TG THERAPEUTICS INC | COM | 88322Q108 |  | 80759221 | 2243935 | SH |  | SOLE |  | 2243935 | 0 | 0 |
| THE BEAUTY HEALTH COMPANY | COM CL A | 88331L108 |  | 1910000 | 1000000 | SH |  | SOLE |  | 1000000 | 0 | 0 |
| THERATECHNOLOGIES INC | COM NEW | 88338H704 |  | 11331247 | 4801376 | SH |  | SOLE |  | 4801376 | 0 | 0 |
| TREVI THERAPEUTICS INC | COM | 89532M101 |  | 3829000 | 700000 | SH |  | SOLE |  | 700000 | 0 | 0 |
| TWIST BIOSCIENCE CORP | COM | 90184D100 |  | 13038413 | 354401 | SH |  | SOLE |  | 354401 | 0 | 0 |
| UNITED THERAPEUTICS CORP DEL | COM | 91307C102 |  | 60284306 | 209794 | SH |  | SOLE |  | 209794 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 26907413 | 86250 | SH |  | SOLE |  | 86250 | 0 | 0 |
| UROGEN PHARMA LTD | COM | M96088105 |  | 29934500 | 2185000 | SH |  | SOLE |  | 2185000 | 0 | 0 |
| VERACYTE INC | COM | 92337F107 |  | 19338316 | 715439 | SH |  | SOLE |  | 715439 | 0 | 0 |
| VERASTEM INC | COM NEW | 92337C203 |  | 3884022 | 935909 | SH |  | SOLE |  | 935909 | 0 | 0 |
| VERICEL CORP | COM | 92346J108 |  | 2168050 | 50953 | SH |  | SOLE |  | 50953 | 0 | 0 |
| XENON PHARMACEUTICALS INC | COM | 98420N105 |  | 2466440 | 78800 | SH |  | SOLE |  | 78800 | 0 | 0 |
| Y-MABS THERAPEUTICS INC | COM | 984241109 |  | 1578419 | 349982 | SH |  | SOLE |  | 349982 | 0 | 0 |

---