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

OMB APPROVAL

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
ACELYRIN INC	COM	00445A100	60,995,103	2,918,426	SH		SOLE		2,918,426	0	0
ACELYRIN INC	COM	00445A100	2,090,000	100,000	SH	Call	SOLE		100,000	0	0
ACLARIS THERAPEUTICS INC	COM	00461U105	2,075,690	200,163	SH		SOLE		200,163	0	0
ACLARIS THERAPEUTICS INC	COM	00461U105	8,257,631	796,300	SH	Put	SOLE		796,300	0	0
ACUMEN PHARMACEUTICALS INC	COM	00509G209	3,150,286	654,945	SH		SOLE		654,945	0	0
ALLAKOS INC	COM	01671P100	3,366,321	772,092	SH		SOLE		772,092	0	0
ANEBULO PHARMACEUTICALS INC	COM	034569103	340,523	156,203	SH		SOLE		156,203	0	0
APELLIS PHARMACEUTICALS INC	COM	03753U106	12,189,180	133,800	SH		SOLE		133,800	0	0
APELLIS PHARMACEUTICALS INC	COM	03753U106	12,116,300	133,000	SH	Put	SOLE		133,000	0	0
ARCUS BIOSCIENCES INC	COM	03969F109	5,686,800	280,000	SH		SOLE		280,000	0	0
ARCUS BIOSCIENCES INC	COM	03969F109	4,062,000	200,000	SH	Call	SOLE		200,000	0	0
ARDELYX INC	COM	039697107	945,216	278,825	SH		SOLE		278,825	0	0
ARGENX SE	SPONSORED ADR	04016X101	14,809,740	38,000	SH	Call	SOLE		38,000	0	0
ARGENX SE	SPONSORED ADR	04016X101	51,483,333	132,100	SH	Put	SOLE		132,100	0	0
ARROWHEAD PHARMACEUTICALS IN	COM	04280A100	4,635,800	130,000	SH		SOLE		130,000	0	0
ASCENDIS PHARMA A/S	SPONSORED ADR	04351P101	186,532	2,090	SH		SOLE		2,090	0	0
ASLAN PHARMACEUTICALS LTD	SPON ADS NEW	04522R200	29,813	164,088	SH		SOLE		164,088	0	0
ASTRAZENECA PLC	SPONSORED ADR	046353108	17,892,500	250,000	SH	Call	SOLE		250,000	0	0
ASTRIA THERAPEUTICS INC	COM	04635X102	4,826,318	579,390	SH		SOLE		579,390	0	0
AUTOLUS THERAPEUTICS PLC	SPON ADS	05280R100	619,006	260,087	SH		SOLE		260,087	0	0
AVROBIO INC	COM	05455M100	127,453	134,146	SH		SOLE		134,146	0	0
BICYCLE THERAPEUTICS PLC	SPONSORED ADS	088786108	5,181,504	203,037	SH		SOLE		203,037	0	0
BIOHAVEN LTD	COM	G1110E107	10,223,814	427,417	SH		SOLE		427,417	0	0
BIOHAVEN LTD	COM	G1110E107	5,382,000	225,000	SH	Call	SOLE		225,000	0	0
BIOMARIN PHARMACEUTICAL INC	COM	09061G101	8,668,000	100,000	SH	Put	SOLE		100,000	0	0
BIOMEA FUSION INC	COM	09077A106	6,055,457	275,875	SH		SOLE		275,875	0	0
BIOMEA FUSION INC	COM	09077A106	20,562,760	936,800	SH	Call	SOLE		936,800	0	0
BIOMEA FUSION INC	COM	09077A106	6,293,065	286,700	SH	Put	SOLE		286,700	0	0
BIOVIE INC	CL A NEW	09074F207	1,933,276	448,556	SH		SOLE		448,556	0	0
BLACK DIAMOND THERAPEUTICS I	COM	09203E105	2,752,770	545,103	SH		SOLE		545,103	0	0
BLUEBIRD BIO INC	COM	09609G100	1,357,545	412,628	SH		SOLE		412,628	0	0
BRAINSTORM CELL THERAPEUTICS	COM NEW	10501E201	391,266	189,935	SH		SOLE		189,935	0	0
BRIDGEBIO PHARMA INC	COM	10806X102	7,390,599	429,686	SH		SOLE		429,686	0	0
BRIDGEBIO PHARMA INC	COM	10806X102	21,152,560	1,229,800	SH	Call	SOLE		1,229,800	0	0
BRIDGEBIO PHARMA INC	COM	10806X102	2,580,000	150,000	SH	Put	SOLE		150,000	0	0
CHEMOMAB THERAPEUTICS LTD	SPONSORED ADS	16385C104	279,543	213,392	SH		SOLE		213,392	0	0
CHINOOK THERAPEUTICS INC	COM	16961L106	130,394	283,464	SH		SOLE		283,464	0	0
COGENT BIOSCIENCES INC	COM	19240Q201	743,150	62,766	SH		SOLE		62,766	0	0
CONNECT BIOPHARMA HLDGS LTD	ADS	207523101	243,645	219,501	SH		SOLE		219,501	0	0
CORBUS PHARMACEUTICALS HLDGS	COM NEW	21833P301	1,507,318	192,260	SH		SOLE		192,260	0	0
CRINETICS PHARMACEUTICALS IN	COM	22663K107	8,559,501	475,000	SH		SOLE		475,000	0	0
CRISPR THERAPEUTICS AG	NAMEN AKT	H17182108	11,228,000	200,000	SH	Call	SOLE		200,000	0	0
CRISPR THERAPEUTICS AG	NAMEN AKT	H17182108	11,228,000	200,000	SH	Put	SOLE		200,000	0	0
DECIPHERA PHARMACEUTICALS IN	COM	24344T101	2,457,101	174,510	SH		SOLE		174,510	0	0
DICE THERAPEUTICS INC	COM	23345J104	2,025,656	43,600	SH	Put	SOLE		43,600	0	0
DISC MEDICINE INC	COM	254604101	10,657,376	240,031	SH		SOLE		240,031	0	0
ELEDON PHARMACEUTICALS INC	COM	28617K101	303,908	221,830	SH		SOLE		221,830	0	0
ELEVATION ONCOLOGY INC	COM	28623U101	1,747,225	1,149,490	SH		SOLE		1,149,490	0	0
ESPERION THERAPEUTICS INC NE	COM	29664W105	2,370,791	1,705,605	SH		SOLE		1,705,605	0	0
FIBROGEN INC	COM	31572Q808	616,735	228,420	SH		SOLE		228,420	0	0
FIBROGEN INC	COM	31572Q808	1,080,000	400,000	SH	Call	SOLE		400,000	0	0
FIBROGEN INC	COM	31572Q808	1,024,110	379,300	SH	Put	SOLE		379,300	0	0
FINCH THERAPEUTICS GROUP INC	COM NEW	31773D200	67,533	7,917	SH		SOLE		7,917	0	0
FOGHORN THERAPEUTICS INC	COM	344174107	105,601	15,000	SH		SOLE		15,000	0	0
HOOKIPA PHARMA INC	COM	43906K100	528,000	600,000	SH		SOLE		600,000	0	0
IDEAYA BIOSCIENCES INC	COM	45166A102	11,535,987	490,893	SH		SOLE		490,893	0	0
IMMATICS N.V	SHS	N44445109	565,817	49,031	SH		SOLE		49,031	0	0
IMMUNIC INC	COM	4525EP101	1,631,500	650,000	SH		SOLE		650,000	0	0
IMMUNOGEN INC	COM	45253H101	8,448,099	447,700	SH		SOLE		447,700	0	0
IMMUNOGEN INC	COM	45253H101	6,604,500	350,000	SH	Call	SOLE		350,000	0	0
IMMUNOVANT INC	COM	45258J102	6,188,014	326,200	SH	Call	SOLE		326,200	0	0
IMMUNOVANT INC	COM	45258J102	1,441,720	76,000	SH	Put	SOLE		76,000	0	0
INSMED INC	COM PAR $.01	457669307	10,233,500	485,000	SH		SOLE		485,000	0	0
INSMED INC	COM PAR $.01	457669307	4,220,000	200,000	SH	Call	SOLE		200,000	0	0
INTERCEPT PHARMACEUTICALS IN	COM	45845P108	1,771,813	160,200	SH		SOLE		160,200	0	0
JASPER THERAPEUTICS INC	COM	471871103	1,541,370	1,125,087	SH		SOLE		1,125,087	0	0
KALVISTA PHARMACEUTICALS INC	COM	483497103	1,260,000	140,000	SH		SOLE		140,000	0	0
KARYOPHARM THERAPEUTICS INC	COM	48576U106	716,000	400,000	SH		SOLE		400,000	0	0
KEZAR LIFE SCIENCES INC	COM	49372L100	2,061,910	841,596	SH		SOLE		841,596	0	0
KODIAK SCIENCES INC	COM	50015M109	431,436	62,527	SH		SOLE		62,527	0	0
KRYSTAL BIOTECH INC	COM	501147102	1,209,220	10,300	SH	Put	SOLE		10,300	0	0
LEGEND BIOTECH CORP	SPONSORED ADS	52490G102	1,725,751	25,000	SH		SOLE		25,000	0	0
LEGEND BIOTECH CORP	SPONSORED ADS	52490G102	4,749,264	68,800	SH	Call	SOLE		68,800	0	0
LONGBOARD PHARMACEUTICALS IN	COM	54300N103	3,701,216	504,253	SH		SOLE		504,253	0	0
LYRA THERAPEUTICS INC	COM	55234L105	4,022,153	978,626	SH		SOLE		978,626	0	0
MADRIGAL PHARMACEUTICALS INC	COM	558868105	17,325	75	SH		SOLE		75	0	0
MARINUS PHARMACEUTICALS INC	COM NEW	56854Q200	6,645,582	611,932	SH		SOLE		611,932	0	0
MERCK & CO INC	COM	58933Y105	11,538,999	100,000	SH		SOLE		100,000	0	0
MEREO BIOPHARMA GROUP PLC	SPON ADS	589492107	300,235	891,676	SH		SOLE		891,676	0	0
MERSANA THERAPEUTICS INC	COM	59045L106	164,501	50,000	SH		SOLE		50,000	0	0
MERSANA THERAPEUTICS INC	COM	59045L106	363,874	110,600	SH	Call	SOLE		110,600	0	0
MERUS N V	COM	N5749R100	1,662,081	63,125	SH		SOLE		63,125	0	0
MILESTONE PHARMACEUTICALS IN	COM	59935V107	1,312,186	460,416	SH		SOLE		460,416	0	0
NOVAVAX INC	COM NEW	670002401	2,972,000	400,000	SH	Call	SOLE		400,000	0	0
NOVAVAX INC	COM NEW	670002401	2,972,000	400,000	SH	Put	SOLE		400,000	0	0
NUVALENT INC	COM	670703107	11,501,952	272,752	SH		SOLE		272,752	0	0
NUVALENT INC	COM	670703107	185,548	4,400	SH	Call	SOLE		4,400	0	0
OCULAR THERAPEUTIX INC	COM	67576A100	516,000	100,000	SH		SOLE		100,000	0	0
PHAXIAM THERAPEUTICS S A	SPONSORED ADR	29604W108	2,257	3,019	SH		SOLE		3,019	0	0
POINT BIOPHARMA GLOBAL INC	COM	730541109	260,783	28,784	SH		SOLE		28,784	0	0
PROQR THRAPEUTICS N V	SHS EURO	N71542109	765,653	472,625	SH		SOLE		472,625	0	0
PROTAGONIST THERAPEUTICS INC	COM	74366E102	966,700	35,000	SH		SOLE		35,000	0	0
PROTAGONIST THERAPEUTICS INC	COM	74366E102	5,524,000	200,000	SH	Call	SOLE		200,000	0	0
PROTAGONIST THERAPEUTICS INC	COM	74366E102	5,838,868	211,400	SH	Put	SOLE		211,400	0	0
PROTARA THERAPEUTICS INC	COM STK	74365U107	450,907	188,664	SH		SOLE		188,664	0	0
REATA PHARMACEUTICALS INC	CL A	75615P103	557,925	5,472	SH		SOLE		5,472	0	0
REATA PHARMACEUTICALS INC	CL A	75615P103	11,215,600	110,000	SH	Call	SOLE		110,000	0	0
RELMADA THERAPEUTICS INC	COM	75955J402	161,109	65,491	SH		SOLE		65,491	0	0
RENEO PHARMACEUTICALS INC	COM	75974E103	1,022,173	155,819	SH		SOLE		155,819	0	0
REPLIMUNE GROUP INC	COM	76029N106	5,301,126	228,300	SH	Call	SOLE		228,300	0	0
REPLIMUNE GROUP INC	COM	76029N106	8,085,204	348,200	SH	Put	SOLE		348,200	0	0
ROIVANT SCIENCES LTD	SHS	G76279101	2,267,999	225,000	SH		SOLE		225,000	0	0
SAREPTA THERAPEUTICS INC	COM	803607100	2,530,892	22,100	SH	Call	SOLE		22,100	0	0
SAREPTA THERAPEUTICS INC	COM	803607100	13,982,892	122,100	SH	Put	SOLE		122,100	0	0
SCPHARMACEUTICALS INC	COM	810648105	1,528,500	150,000	SH		SOLE		150,000	0	0
STOKE THERAPEUTICS INC	COM	86150R107	748,245	70,390	SH		SOLE		70,390	0	0
STOKE THERAPEUTICS INC	COM	86150R107	2,287,576	215,200	SH	Call	SOLE		215,200	0	0
SYNLOGIC INC	COM	87166L100	131,905	306,757	SH		SOLE		306,757	0	0
TERNS PHARMACEUTICALS INC	COM	880881107	2,760,451	315,480	SH		SOLE		315,480	0	0
TERNS PHARMACEUTICALS INC	COM	880881107	1,750,000	200,000	SH	Call	SOLE		200,000	0	0
TG THERAPEUTICS INC	COM	88322Q108	20,520,324	826,100	SH	Call	SOLE		826,100	0	0
TG THERAPEUTICS INC	COM	88322Q108	20,520,324	826,100	SH	Put	SOLE		826,100	0	0
TRACON PHARMACEUTICALS INC	COM NEW	89237H209	804,769	2,765,530	SH		SOLE		2,765,530	0	0
TYRA BIOSCIENCES INC	COM	90240B106	820,336	48,170	SH		SOLE		48,170	0	0
ULTRAGENYX PHARMACEUTICAL IN	COM	90400D108	5,612,084	121,658	SH		SOLE		121,658	0	0
UNIQURE NV	SHS	N90064101	1,769,424	154,400	SH	Call	SOLE		154,400	0	0
VAXCYTE INC	COM	92243G108	6,991,600	140,000	SH		SOLE		140,000	0	0
VENTYX BIOSCIENCES INC	COM	92332V107	12,270,480	374,100	SH	Put	SOLE		374,100	0	0
VERONA PHARMA PLC	SPONSORED ADS	925050106	219,207	313,677	SH		SOLE		313,677	0	0
VOYAGER THERAPEUTICS INC	COM	92915B106	3,435,000	300,000	SH		SOLE		300,000	0	0
X4 PHARMACEUTICALS INC	COM	98420X103	677,318	349,133	SH		SOLE		349,133	0	0
XENON PHARMACEUTICALS INC	COM	98420N105	5,216,212	135,486	SH		SOLE		135,486	0	0