# EDGAR Filing Document

**Accession Number:** 0001778253
**File Stem:** 0001420506-23-000695
**Filing Date:** 2023-2
**Character Count:** 12497
**Document Hash:** 9db2d5b63bda88f379f5adddb6a155f8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001420506-23-000695.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001420506-23-000695

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**EFFECTIVENESS DATE**: 20230214

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ikarian Capital, LLC
- **CENTRAL INDEX KEY:** 0001778253
- **IRS NUMBER:** 473466768
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19721
- **FILM NUMBER:** 23630009

**BUSINESS ADDRESS:**
- **STREET 1:** 100 CRESCENT COURT
- **STREET 2:** SUITE 1620
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201
- **BUSINESS PHONE:** 214-364-2883

**MAIL ADDRESS:**
- **STREET 1:** 100 CRESCENT COURT
- **STREET 2:** SUITE 1620
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**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:** Ikarian Capital LLC<br>**Address:** 100 CRESCENT COURT<br>SUITE 1620<br>DALLAS, TX 75201

**Form 13F File Number:** 028-19721

**CRD Number (if applicable):** 001778253

**SEC File Number (if applicable):** 801-118894

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:** Troy Wuertz<br>**Title:** CHIEF COMPLIANCE OFFICER<br>**Phone:** 214-276-0670

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

Troy Wuertz CHIEF COMPLIANCE OFFICER  DALLAS, TX  02-14-2023<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:** 86

**Form 13F Information Table Value Total:** $414502576

      (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 |
| 89BIO INC | COM | 282559103 |  | 5779419 | 454000 | SH |  | SOLE |  | 454000 | 0 | 0 |
| ACADIA PHARMACEUTICALS INC | COM | 004225108 |  | 5174001 | 325000 | SH |  | SOLE |  | 325000 | 0 | 0 |
| ACUMEN PHARMACEUTICALS INC | COM | 00509G209 |  | 1376703 | 254945 | SH |  | SOLE |  | 254945 | 0 | 0 |
| AEROVATE THERAPEUTICS INC | COM | 008064107 |  | 3748085 | 127921 | SH |  | SOLE |  | 127921 | 0 | 0 |
| ALTIMMUNE INC | COM NEW | 02155H200 |  | 4497956 | 273432 | SH |  | SOLE |  | 273432 | 0 | 0 |
| ALTIMMUNE INC | COM NEW | 02155H200 |  | 9498230 | 577400 | SH | Call | SOLE |  | 577400 | 0 | 0 |
| ANEBULO PHARMACEUTICALS INC | COM | 034569103 |  | 374888 | 156203 | SH |  | SOLE |  | 156203 | 0 | 0 |
| ARCUS BIOSCIENCES INC | COM | 03969F109 |  | 2853572 | 137987 | SH |  | SOLE |  | 137987 | 0 | 0 |
| ARCUS BIOSCIENCES INC | COM | 03969F109 |  | 5854508 | 283100 | SH | Put | SOLE |  | 283100 | 0 | 0 |
| ARDELYX INC | COM | 039697107 |  | 3929651 | 1378825 | SH |  | SOLE |  | 1378825 | 0 | 0 |
| ARK ETF TR | GENOMIC REV ETF | 00214Q302 |  | 1311622 | 46462 | SH |  | SOLE |  | 46462 | 0 | 0 |
| ARK ETF TR | INNOVATION ETF | 00214Q104 |  | 141174 | 4519 | SH |  | SOLE |  | 4519 | 0 | 0 |
| ARVINAS INC | COM | 04335A105 |  | 3421000 | 100000 | SH | Call | SOLE |  | 100000 | 0 | 0 |
| ASLAN PHARMACEUTICALS LTD | ADS | 04522R101 |  | 151446 | 820455 | SH |  | SOLE |  | 820455 | 0 | 0 |
| ASTRIA THERAPEUTICS INC | COM | 04635X102 |  | 2547679 | 171100 | SH | Call | SOLE |  | 171100 | 0 | 0 |
| ASTRIA THERAPEUTICS INC | COM | 04635X102 |  | 10053370 | 675176 | SH |  | SOLE |  | 675176 | 0 | 0 |
| AUTOLUS THERAPEUTICS PLC | SPON ADS | 05280R100 |  | 494166 | 260087 | SH |  | SOLE |  | 260087 | 0 | 0 |
| BELLICUM PHARMACEUTICALS INC | COM NEW | 079481404 |  | 322633 | 448101 | SH |  | SOLE |  | 448101 | 0 | 0 |
| BELLUS HEALTH INC NEW | COM NEW | 07987C204 |  | 7277445 | 885334 | SH |  | SOLE |  | 885334 | 0 | 0 |
| BIOGEN INC | COM | 09062X103 |  | 266398 | 962 | SH |  | SOLE |  | 962 | 0 | 0 |
| BIOGEN INC | COM | 09062X103 |  | 498456 | 1800 | SH | Call | SOLE |  | 1800 | 0 | 0 |
| BIOHAVEN LTD | COM | G1110E107 |  | 11624500 | 837500 | SH |  | SOLE |  | 837500 | 0 | 0 |
| BIOXCEL THERAPEUTICS INC | COM | 09075P105 |  | 5370000 | 250000 | SH |  | SOLE |  | 250000 | 0 | 0 |
| BLUEBIRD BIO INC | COM | 09609G100 |  | 5623385 | 812628 | SH |  | SOLE |  | 812628 | 0 | 0 |
| BRAINSTORM CELL THERAPEUTICS | COM NEW | 10501E201 |  | 311494 | 189935 | SH |  | SOLE |  | 189935 | 0 | 0 |
| CABALETTA BIO INC | COM | 12674W109 |  | 280145 | 30286 | SH |  | SOLE |  | 30286 | 0 | 0 |
| CELLDEX THERAPEUTICS INC NEW | COM NEW | 15117B202 |  | 11921406 | 267476 | SH |  | SOLE |  | 267476 | 0 | 0 |
| CHEMOMAB THERAPEUTICS LTD | SPONSORED ADS | 16385C104 |  | 1002855 | 313392 | SH |  | SOLE |  | 313392 | 0 | 0 |
| CHINOOK THERAPEUTICS INC | COM | 16961L106 |  | 0 | 283464 | SH |  | SOLE |  | 283464 | 0 | 0 |
| COGENT BIOSCIENCES INC | COM | 19240Q201 |  | 725576 | 62766 | SH |  | SOLE |  | 62766 | 0 | 0 |
| CONNECT BIOPHARMA HLDGS LTD | ADS | 207523101 |  | 190482 | 219501 | SH |  | SOLE |  | 219501 | 0 | 0 |
| CORBUS PHARMACEUTICALS HLDGS | COM | 21833P103 |  | 43888 | 397168 | SH |  | SOLE |  | 397168 | 0 | 0 |
| DECIPHERA PHARMACEUTICALS IN | COM | 24344T101 |  | 6017081 | 367119 | SH |  | SOLE |  | 367119 | 0 | 0 |
| DESIGN THERAPEUTICS INC | COM | 25056L103 |  | 8208 | 800 | SH | Call | SOLE |  | 800 | 0 | 0 |
| DESIGN THERAPEUTICS INC | COM | 25056L103 |  | 497610 | 48500 | SH | Put | SOLE |  | 48500 | 0 | 0 |
| DESIGN THERAPEUTICS INC | COM | 25056L103 |  | 118689 | 11568 | SH |  | SOLE |  | 11568 | 0 | 0 |
| ELEDON PHARMACEUTICALS INC | COM | 28617K101 |  | 514645 | 221830 | SH |  | SOLE |  | 221830 | 0 | 0 |
| ERYTECH PHARMA | SPONSORED ADR | 29604W108 |  | 1185 | 3019 | SH |  | SOLE |  | 3019 | 0 | 0 |
| ESPERION THERAPEUTICS INC NE | COM | 29664W105 |  | 8079687 | 1296900 | SH | Call | SOLE |  | 1296900 | 0 | 0 |
| ESPERION THERAPEUTICS INC NE | COM | 29664W105 |  | 11781846 | 1891147 | SH |  | SOLE |  | 1891147 | 0 | 0 |
| FINCH THERAPEUTICS GROUP INC | COM | 31773D101 |  | 114026 | 237553 | SH |  | SOLE |  | 237553 | 0 | 0 |
| GERON CORP | COM | 374163103 |  | 363000 | 150000 | SH | Put | SOLE |  | 150000 | 0 | 0 |
| GERON CORP | COM | 374163103 |  | 1573000 | 650000 | SH | Call | SOLE |  | 650000 | 0 | 0 |
| GOSSAMER BIO INC | COM | 38341P102 |  | 13237 | 6100 | SH |  | SOLE |  | 6100 | 0 | 0 |
| HORIZON THERAPEUTICS PUB L | SHS | G46188101 |  | 10153123 | 89219 | SH |  | SOLE |  | 89219 | 0 | 0 |
| IMMATICS N.V | SHS | N44445109 |  | 427060 | 49031 | SH |  | SOLE |  | 49031 | 0 | 0 |
| IMMUNIC INC | COM | 4525EP101 |  | 910000 | 650000 | SH |  | SOLE |  | 650000 | 0 | 0 |
| IMMUNOVANT INC | COM | 45258J102 |  | 17158925 | 966700 | SH |  | SOLE |  | 966700 | 0 | 0 |
| IMMUNOVANT INC | COM | 45258J102 |  | 465050 | 26200 | SH | Call | SOLE |  | 26200 | 0 | 0 |
| INTERCEPT PHARMACEUTICALS IN | COM | 45845P108 |  | 1053924 | 85200 | SH |  | SOLE |  | 85200 | 0 | 0 |
| IVERIC BIO INC | COM | 46583P102 |  | 8072019 | 377021 | SH |  | SOLE |  | 377021 | 0 | 0 |
| KEZAR LIFE SCIENCES INC | COM | 49372L100 |  | 4435102 | 629986 | SH |  | SOLE |  | 629986 | 0 | 0 |
| KRYSTAL BIOTECH INC | COM | 501147102 |  | 13142598 | 165900 | SH | Put | SOLE |  | 165900 | 0 | 0 |
| LYRA THERAPEUTICS INC | COM | 55234L105 |  | 1079171 | 343685 | SH |  | SOLE |  | 343685 | 0 | 0 |
| MADRIGAL PHARMACEUTICALS INC | COM | 558868105 |  | 21770 | 75 | SH |  | SOLE |  | 75 | 0 | 0 |
| MADRIGAL PHARMACEUTICALS INC | COM | 558868105 |  | 87075000 | 300000 | SH | Put | SOLE |  | 300000 | 0 | 0 |
| MERUS N V | COM | N5749R100 |  | 2413320 | 156000 | SH |  | SOLE |  | 156000 | 0 | 0 |
| MILESTONE PHARMACEUTICALS IN | COM | 59935V107 |  | 1823248 | 460416 | SH |  | SOLE |  | 460416 | 0 | 0 |
| MIRATI THERAPEUTICS INC | COM | 60468T105 |  | 4898010 | 108100 | SH |  | SOLE |  | 108100 | 0 | 0 |
| OCULAR THERAPEUTIX INC | COM | 67576A100 |  | 562000 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| POINT BIOPHARMA GLOBAL INC | COM | 730541109 |  | 1017429 | 139565 | SH |  | SOLE |  | 139565 | 0 | 0 |
| PRAXIS PRECISION MEDICINES I | COM | 74006W108 |  | 357000 | 150000 | SH |  | SOLE |  | 150000 | 0 | 0 |
| PROMETHEUS BIOSCIENCES INC | COM | 74349U108 |  | 11000000 | 100000 | SH | Call | SOLE |  | 100000 | 0 | 0 |
| PROMETHEUS BIOSCIENCES INC | COM | 74349U108 |  | 31781860 | 288926 | SH |  | SOLE |  | 288926 | 0 | 0 |
| PROQR THRAPEUTICS N V | SHS EURO | N71542109 |  | 1563713 | 422625 | SH |  | SOLE |  | 422625 | 0 | 0 |
| PROTARA THERAPEUTICS INC | COM STK | 74365U107 |  | 505619 | 188664 | SH |  | SOLE |  | 188664 | 0 | 0 |
| REATA PHARMACEUTICALS INC | CL A | 75615P103 |  | 7643588 | 201200 | SH | Put | SOLE |  | 201200 | 0 | 0 |
| RELMADA THERAPEUTICS INC | COM | 75955J402 |  | 228563 | 65491 | SH |  | SOLE |  | 65491 | 0 | 0 |
| RENEO PHARMACEUTICALS INC | COM | 75974E103 |  | 363059 | 155819 | SH |  | SOLE |  | 155819 | 0 | 0 |
| SAGE THERAPEUTICS INC | COM | 78667J108 |  | 2586083 | 67805 | SH |  | SOLE |  | 67805 | 0 | 0 |
| SAREPTA THERAPEUTICS INC | COM | 803607100 |  | 3670224 | 28324 | SH |  | SOLE |  | 28324 | 0 | 0 |
| SATSUMA PHARMACEUTICALS INC | COM | 80405P107 |  | 122453 | 136059 | SH |  | SOLE |  | 136059 | 0 | 0 |
| SEAGEN INC | COM | 81181C104 |  | 3212750 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| SPDR SER TR | S BIOTECH | 78464A870 |  | 8300000 | 100000 | SH | Call | SOLE |  | 100000 | 0 | 0 |
| SPDR SER TR | S BIOTECH | 78464A870 |  | 8300000 | 100000 | SH | Put | SOLE |  | 100000 | 0 | 0 |
| SPECTRUM PHARMACEUTICALS INC | COM | 84763A108 |  | 65217 | 176980 | SH |  | SOLE |  | 176980 | 0 | 0 |
| SYNLOGIC INC | COM | 87166L100 |  | 233135 | 306757 | SH |  | SOLE |  | 306757 | 0 | 0 |
| TERNS PHARMACEUTICALS INC | COM | 880881107 |  | 7505908 | 737319 | SH |  | SOLE |  | 737319 | 0 | 0 |
| TRACON PHARMACEUTICALS INC | COM NEW | 89237H209 |  | 4120639 | 2765530 | SH |  | SOLE |  | 2765530 | 0 | 0 |
| TRICIDA INC | COM | 89610F101 |  | 22277 | 145700 | SH | Call | SOLE |  | 145700 | 0 | 0 |
| VAXCYTE INC | COM | 92243G108 |  | 11987501 | 250000 | SH |  | SOLE |  | 250000 | 0 | 0 |
| VERONA PHARMA PLC | SPONSORED ADS | 925050106 |  | 5226000 | 200000 | SH | Call | SOLE |  | 200000 | 0 | 0 |
| VERONA PHARMA PLC | SPONSORED ADS | 925050106 |  | 6666573 | 255131 | SH |  | SOLE |  | 255131 | 0 | 0 |
| VIKING THERAPEUTICS INC | COM | 92686J106 |  | 1909666 | 203156 | SH |  | SOLE |  | 203156 | 0 | 0 |
| X4 PHARMACEUTICALS INC | COM | 98420X103 |  | 346689 | 349133 | SH |  | SOLE |  | 349133 | 0 | 0 |
| XENON PHARMACEUTICALS INC | COM | 98420N105 |  | 6327963 | 160486 | SH |  | SOLE |  | 160486 | 0 | 0 |

---