| 1 | Incyte Corp | 30 744 412 | 2,9 Md $ | |
| 2 | BEONE MEDICINES LTD | 8 799 053 | 2,6 Md $ | |
| 3 | Insmed Inc | 7 421 111 | 1,2 Md $ | |
| 4 | Madrigal Pharmaceuticals Inc | 2 141 701 | 1,1 Md $ | |
| 5 | ACADIA Pharmaceuticals Inc | 42 896 690 | 954,9 M $ | |
| 6 | Revolution Medicines Inc | 9 555 357 | 929,3 M $ | |
| 7 | Celcuity Inc | 7 915 792 | 903,5 M $ | |
| 8 | Kodiak Sciences Inc | 19 919 186 | 759,3 M $ | |
| 9 | Kymera Therapeutics Inc | 8 657 242 | 721,1 M $ | |
| 10 | Summit Therapeutics Inc | 36 391 063 | 690 M $ | |
| 11 | Praxis Precision Medicines Inc | 1 753 198 | 564,9 M $ | |
| 12 | Rhythm Pharmaceuticals Inc | 5 604 483 | 487,4 M $ | |
| 13 | GRAIL Inc | 4 028 614 | 208,2 M $ | |
| 14 | Edgewise Therapeutics Inc | 6 575 940 | 207,1 M $ | |
| 15 | Ionis Pharmaceuticals Inc | 2 047 727 | 153,8 M $ | |
| 16 | Immunovant Inc | 5 457 881 | 135,6 M $ | |
| 17 | Ideaya Biosciences Inc | 3 946 515 | 131,5 M $ | |
| 18 | Arrowhead Pharmaceuticals Inc | 1 992 783 | 124,9 M $ | |
| 19 | Stoke Therapeutics Inc | 3 336 697 | 108,6 M $ | |
| 20 | Abivax SA | 875 796 | 97,5 M $ | |
| 21 | Crinetics Pharmaceuticals Inc | 2 351 465 | 85,4 M $ | |
| 22 | Replimune Group Inc | 11 045 336 | 84,5 M $ | |
| 23 | Nurix Therapeutics Inc | 4 658 556 | 72,2 M $ | |
| 24 | Denali Therapeutics Inc | 3 731 695 | 71,6 M $ | |
| 25 | Dianthus Therapeutics Inc | 852 164 | 71,5 M $ | |
| 26 | Monte Rosa Therapeutics Inc | 4 345 736 | 71,5 M $ | |
| 27 | Structure Therapeutics Inc | 1 432 529 | 69 M $ | |
| 28 | Entrada Therapeutics Inc | 5 072 730 | 64 M $ | |
| 29 | Bicycle Therapeutics PLC | 10 885 357 | 50,5 M $ | |
| 30 | Spyre Therapeutics Inc | 1 000 000 | 50,4 M $ | |
| 31 | Rapport Therapeutics Inc | 1 547 090 | 48,4 M $ | |
| 32 | Alumis Inc | 2 012 500 | 44,3 M $ | |
| 33 | Mirum Pharmaceuticals Inc | 445 975 | 41,2 M $ | |
| 34 | Viridian Therapeutics Inc | 1 971 678 | 38,6 M $ | |
| 35 | Enliven Therapeutics Inc | 905 191 | 35,5 M $ | |
| 36 | Prelude Therapeutics Inc | 10 123 824 | 34,6 M $ | |
| 37 | DBV Technologies SA | 1 461 425 | 30,5 M $ | |
| 38 | Design Therapeutics Inc | 2 585 978 | 27,5 M $ | |
| 39 | CENTESSA PHARMACEUTICALS PLC | 670 751 | 26,6 M $ | |
| 40 | CytomX Therapeutics Inc | 4 975 826 | 23,4 M $ | |
| 41 | JADE BIOSCIENCES INC | 1 641 137 | 23,1 M $ | |
| 42 | Disc Medicine Inc | 349 657 | 22,4 M $ | |
| 43 | Immunocore Holdings PLC | 734 397 | 22,1 M $ | |
| 44 | Celldex Therapeutics Inc | 665 370 | 21,1 M $ | |
| 45 | Neurogene Inc | 991 691 | 20 M $ | |
| 46 | Evommune Inc | 847 390 | 19,5 M $ | |
| 47 | Tectonic Therapeutic Inc | 607 788 | 18,8 M $ | |
| 48 | Contineum Therapeutics Inc | 1 420 838 | 18,6 M $ | |
| 49 | Argenx SE | 25 174 | 18,4 M $ | |
| 50 | Cerus Corp | 10 008 345 | 18,2 M $ | |
| 51 | Taysha Gene Therapies Inc | 4 004 756 | 17,9 M $ | |
| 52 | Aktis Oncology Inc | 996 351 | 17,8 M $ | |
| 53 | Generate Biomedicines Inc | 1 423 602 | 17,8 M $ | |
| 54 | Sionna Therapeutics Inc | 400 000 | 16 M $ | |
| 55 | Dyne Therapeutics Inc | 813 449 | 14,7 M $ | |
| 56 | Xencor Inc | 1 102 106 | 13,3 M $ | |
| 57 | Compass Pathways plc | 2 344 720 | 13 M $ | |
| 58 | Relay Therapeutics Inc | 1 160 117 | 11,5 M $ | |
| 59 | Sera Prognostics Inc | 5 498 170 | 11,2 M $ | |
| 60 | BioNTech SE | 119 743 | 10,6 M $ | |
| 61 | Arcus Biosciences Inc | 415 621 | 9 M $ | |
| 62 | MapLight Therapeutics Inc | 364 705 | 7,4 M $ | |
| 63 | Absci Corp | 2 134 803 | 6,4 M $ | |
| 64 | VTV THERAPEUTICS INC | 148 314 | 5,9 M $ | |
| 65 | Eikon Therapeutics Inc | 555 555 | 5,9 M $ | |
| 66 | Protara Therapeutics Inc | 971 614 | 5,1 M $ | |
| 67 | Sagimet Biosciences Inc | 952 996 | 5 M $ | |
| 68 | LB Pharmaceuticals Inc | 200 000 | 4,9 M $ | |
| 69 | Verastem Inc | 584 757 | 3,1 M $ | |
| 70 | TScan Therapeutics Inc | 2 784 792 | 2,8 M $ | |
| 71 | SKYE BIOSCIENCE INC | 1 575 243 | 968,1 k $ | |
| 72 | Sana Biotechnology Inc | 310 483 | 894,2 k $ | |
| 73 | Aligos Therapeutics Inc | 83 055 | 617,1 k $ | |
| 74 | Tyra Biosciences Inc | 10 607 | 406,2 k $ | |