In summary, our portfolio is positioning for strong catalyst-driven growth while tightening risk controls. We have exited Axogen to redeploy into more immediate opportunities, namely Fortress Biotech (upcoming FDA decision) and 4D Molecular Therapeutics (post-positive data momentum). Our core holdings Abeona and aTyr remain high-conviction to outperform the market – Abeona is transitioning to commercial stage with a funded runway , and aTyr is on the cusp of Phase 3 results that could be transformative.
These two form the backbone of our thesis, supported by solid fundamentals and news flow. Fortress and 4DMT add tactical spice: one a near-term binary event play, the other a beaten-down innovator with new validation. Overall, the portfolio is up ~32% in 9 weeks, far ahead of the S&P 500’s ~4.5% in the same period, and we aim to build on that lead . The coming week (Week 10) will be about catalyst anticipation and risk management – ensuring we have the right exposure levels as we head into late September’s event calendar. We will review the thesis on each name continuously and remain ready to adjust if the story changes