Ikarian Capital 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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OMB Number:		3235-0006
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
89BIO INC	COM	282559103	5,779,419	454,000	SH		SOLE		454,000	0	0
ACADIA PHARMACEUTICALS INC	COM	004225108	5,174,001	325,000	SH		SOLE		325,000	0	0
ACUMEN PHARMACEUTICALS INC	COM	00509G209	1,376,703	254,945	SH		SOLE		254,945	0	0
AEROVATE THERAPEUTICS INC	COM	008064107	3,748,085	127,921	SH		SOLE		127,921	0	0
ALTIMMUNE INC	COM NEW	02155H200	4,497,956	273,432	SH		SOLE		273,432	0	0
ALTIMMUNE INC	COM NEW	02155H200	9,498,230	577,400	SH	Call	SOLE		577,400	0	0
ANEBULO PHARMACEUTICALS INC	COM	034569103	374,888	156,203	SH		SOLE		156,203	0	0
ARCUS BIOSCIENCES INC	COM	03969F109	2,853,572	137,987	SH		SOLE		137,987	0	0
ARCUS BIOSCIENCES INC	COM	03969F109	5,854,508	283,100	SH	Put	SOLE		283,100	0	0
ARDELYX INC	COM	039697107	3,929,651	1,378,825	SH		SOLE		1,378,825	0	0
ARK ETF TR	GENOMIC REV ETF	00214Q302	1,311,622	46,462	SH		SOLE		46,462	0	0
ARK ETF TR	INNOVATION ETF	00214Q104	141,174	4,519	SH		SOLE		4,519	0	0
ARVINAS INC	COM	04335A105	3,421,000	100,000	SH	Call	SOLE		100,000	0	0
ASLAN PHARMACEUTICALS LTD	ADS	04522R101	151,446	820,455	SH		SOLE		820,455	0	0
ASTRIA THERAPEUTICS INC	COM	04635X102	2,547,679	171,100	SH	Call	SOLE		171,100	0	0
ASTRIA THERAPEUTICS INC	COM	04635X102	10,053,370	675,176	SH		SOLE		675,176	0	0
AUTOLUS THERAPEUTICS PLC	SPON ADS	05280R100	494,166	260,087	SH		SOLE		260,087	0	0
BELLICUM PHARMACEUTICALS INC	COM NEW	079481404	322,633	448,101	SH		SOLE		448,101	0	0
BELLUS HEALTH INC NEW	COM NEW	07987C204	7,277,445	885,334	SH		SOLE		885,334	0	0
BIOGEN INC	COM	09062X103	266,398	962	SH		SOLE		962	0	0
BIOGEN INC	COM	09062X103	498,456	1,800	SH	Call	SOLE		1,800	0	0
BIOHAVEN LTD	COM	G1110E107	11,624,500	837,500	SH		SOLE		837,500	0	0
BIOXCEL THERAPEUTICS INC	COM	09075P105	5,370,000	250,000	SH		SOLE		250,000	0	0
BLUEBIRD BIO INC	COM	09609G100	5,623,385	812,628	SH		SOLE		812,628	0	0
BRAINSTORM CELL THERAPEUTICS	COM NEW	10501E201	311,494	189,935	SH		SOLE		189,935	0	0
CABALETTA BIO INC	COM	12674W109	280,145	30,286	SH		SOLE		30,286	0	0
CELLDEX THERAPEUTICS INC NEW	COM NEW	15117B202	11,921,406	267,476	SH		SOLE		267,476	0	0
CHEMOMAB THERAPEUTICS LTD	SPONSORED ADS	16385C104	1,002,855	313,392	SH		SOLE		313,392	0	0
CHINOOK THERAPEUTICS INC	COM	16961L106	0	283,464	SH		SOLE		283,464	0	0
COGENT BIOSCIENCES INC	COM	19240Q201	725,576	62,766	SH		SOLE		62,766	0	0
CONNECT BIOPHARMA HLDGS LTD	ADS	207523101	190,482	219,501	SH		SOLE		219,501	0	0
CORBUS PHARMACEUTICALS HLDGS	COM	21833P103	43,888	397,168	SH		SOLE		397,168	0	0
DECIPHERA PHARMACEUTICALS IN	COM	24344T101	6,017,081	367,119	SH		SOLE		367,119	0	0
DESIGN THERAPEUTICS INC	COM	25056L103	8,208	800	SH	Call	SOLE		800	0	0
DESIGN THERAPEUTICS INC	COM	25056L103	497,610	48,500	SH	Put	SOLE		48,500	0	0
DESIGN THERAPEUTICS INC	COM	25056L103	118,689	11,568	SH		SOLE		11,568	0	0
ELEDON PHARMACEUTICALS INC	COM	28617K101	514,645	221,830	SH		SOLE		221,830	0	0
ERYTECH PHARMA	SPONSORED ADR	29604W108	1,185	3,019	SH		SOLE		3,019	0	0
ESPERION THERAPEUTICS INC NE	COM	29664W105	8,079,687	1,296,900	SH	Call	SOLE		1,296,900	0	0
ESPERION THERAPEUTICS INC NE	COM	29664W105	11,781,846	1,891,147	SH		SOLE		1,891,147	0	0
FINCH THERAPEUTICS GROUP INC	COM	31773D101	114,026	237,553	SH		SOLE		237,553	0	0
GERON CORP	COM	374163103	363,000	150,000	SH	Put	SOLE		150,000	0	0
GERON CORP	COM	374163103	1,573,000	650,000	SH	Call	SOLE		650,000	0	0
GOSSAMER BIO INC	COM	38341P102	13,237	6,100	SH		SOLE		6,100	0	0
HORIZON THERAPEUTICS PUB L	SHS	G46188101	10,153,123	89,219	SH		SOLE		89,219	0	0
IMMATICS N.V	SHS	N44445109	427,060	49,031	SH		SOLE		49,031	0	0
IMMUNIC INC	COM	4525EP101	910,000	650,000	SH		SOLE		650,000	0	0
IMMUNOVANT INC	COM	45258J102	17,158,925	966,700	SH		SOLE		966,700	0	0
IMMUNOVANT INC	COM	45258J102	465,050	26,200	SH	Call	SOLE		26,200	0	0
INTERCEPT PHARMACEUTICALS IN	COM	45845P108	1,053,924	85,200	SH		SOLE		85,200	0	0
IVERIC BIO INC	COM	46583P102	8,072,019	377,021	SH		SOLE		377,021	0	0
KEZAR LIFE SCIENCES INC	COM	49372L100	4,435,102	629,986	SH		SOLE		629,986	0	0
KRYSTAL BIOTECH INC	COM	501147102	13,142,598	165,900	SH	Put	SOLE		165,900	0	0
LYRA THERAPEUTICS INC	COM	55234L105	1,079,171	343,685	SH		SOLE		343,685	0	0
MADRIGAL PHARMACEUTICALS INC	COM	558868105	21,770	75	SH		SOLE		75	0	0
MADRIGAL PHARMACEUTICALS INC	COM	558868105	87,075,000	300,000	SH	Put	SOLE		300,000	0	0
MERUS N V	COM	N5749R100	2,413,320	156,000	SH		SOLE		156,000	0	0
MILESTONE PHARMACEUTICALS IN	COM	59935V107	1,823,248	460,416	SH		SOLE		460,416	0	0
MIRATI THERAPEUTICS INC	COM	60468T105	4,898,010	108,100	SH		SOLE		108,100	0	0
OCULAR THERAPEUTIX INC	COM	67576A100	562,000	200,000	SH		SOLE		200,000	0	0
POINT BIOPHARMA GLOBAL INC	COM	730541109	1,017,429	139,565	SH		SOLE		139,565	0	0
PRAXIS PRECISION MEDICINES I	COM	74006W108	357,000	150,000	SH		SOLE		150,000	0	0
PROMETHEUS BIOSCIENCES INC	COM	74349U108	11,000,000	100,000	SH	Call	SOLE		100,000	0	0
PROMETHEUS BIOSCIENCES INC	COM	74349U108	31,781,860	288,926	SH		SOLE		288,926	0	0
PROQR THRAPEUTICS N V	SHS EURO	N71542109	1,563,713	422,625	SH		SOLE		422,625	0	0
PROTARA THERAPEUTICS INC	COM STK	74365U107	505,619	188,664	SH		SOLE		188,664	0	0
REATA PHARMACEUTICALS INC	CL A	75615P103	7,643,588	201,200	SH	Put	SOLE		201,200	0	0
RELMADA THERAPEUTICS INC	COM	75955J402	228,563	65,491	SH		SOLE		65,491	0	0
RENEO PHARMACEUTICALS INC	COM	75974E103	363,059	155,819	SH		SOLE		155,819	0	0
SAGE THERAPEUTICS INC	COM	78667J108	2,586,083	67,805	SH		SOLE		67,805	0	0
SAREPTA THERAPEUTICS INC	COM	803607100	3,670,224	28,324	SH		SOLE		28,324	0	0
SATSUMA PHARMACEUTICALS INC	COM	80405P107	122,453	136,059	SH		SOLE		136,059	0	0
SEAGEN INC	COM	81181C104	3,212,750	25,000	SH		SOLE		25,000	0	0
SPDR SER TR	S&P BIOTECH	78464A870	8,300,000	100,000	SH	Call	SOLE		100,000	0	0
SPDR SER TR	S&P BIOTECH	78464A870	8,300,000	100,000	SH	Put	SOLE		100,000	0	0
SPECTRUM PHARMACEUTICALS INC	COM	84763A108	65,217	176,980	SH		SOLE		176,980	0	0
SYNLOGIC INC	COM	87166L100	233,135	306,757	SH		SOLE		306,757	0	0
TERNS PHARMACEUTICALS INC	COM	880881107	7,505,908	737,319	SH		SOLE		737,319	0	0
TRACON PHARMACEUTICALS INC	COM NEW	89237H209	4,120,639	2,765,530	SH		SOLE		2,765,530	0	0
TRICIDA INC	COM	89610F101	22,277	145,700	SH	Call	SOLE		145,700	0	0
VAXCYTE INC	COM	92243G108	11,987,501	250,000	SH		SOLE		250,000	0	0
VERONA PHARMA PLC	SPONSORED ADS	925050106	5,226,000	200,000	SH	Call	SOLE		200,000	0	0
VERONA PHARMA PLC	SPONSORED ADS	925050106	6,666,573	255,131	SH		SOLE		255,131	0	0
VIKING THERAPEUTICS INC	COM	92686J106	1,909,666	203,156	SH		SOLE		203,156	0	0
X4 PHARMACEUTICALS INC	COM	98420X103	346,689	349,133	SH		SOLE		349,133	0	0
XENON PHARMACEUTICALS INC	COM	98420N105	6,327,963	160,486	SH		SOLE		160,486	0	0