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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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
ACCELERATED DIAGNOSTICS INC COM 00430H102 1,612 75,000 SH   SOLE   75,000 0 0
ACHAOGEN INC COM OO4449104 718 125,000 SH   SOLE   125,000 0 0
ADAMAS PHARMACEUTICALS INC COM 00548A106 5,380 190,000 SH   SOLE   190,000 0 0
AFFIMED N V COM N01045108 4,236 595,000 SH   SOLE   595,000 0 0
AGILE THERAPEUTICS INC COM 00847L100 2,928 300,000 SH   SOLE   300,000 0 0
ALDER BIOPHARMACEUTICALS INC COM 014339105 2,147 65,000 SH   SOLE   65,000 0 0
AMAG PHARMACEUTICALS INC COM 00163U106 4,529 150,000 SH   SOLE   150,000 0 0
AMARIN CORP PLC SPONS ADR NEW 023111206 3,326 1,760,000 SH   SOLE   1,760,000 0 0
ARIAD PHARMACEUTICALS INC COM 04033A100 8,188 1,310,000 SH   SOLE   1,310,000 0 0
AURIS MED HLDG AG COM H03579101 1,834 375,000 SH   SOLE   375,000 0 0
AVINGER INC COM 053734109 4,315 190,000 SH   SOLE   190,000 0 0
AXOGEN INC COM 05463X106 10,600 2,120,000 SH   SOLE   2,120,000 0 0
BIOLINERX LTD SPONSORED ADR 09071M106 325 250,000 SH   SOLE   250,000 0 0
BLUEPRINT MEDICINES CORP COM 09627Y109 7,244 275,000 SH   SOLE   275,000 0 0
CARA THERAPEUTICS INC COM 140755109 7,199 427,000 SH   SOLE   427,000 0 0
CELLECTIS S A SPONSORED ADS 15117K103 1,552 50,000 SH   SOLE   50,000 0 0
CEMPRA INC COM 15130J109 6,226 200,000 SH   SOLE   200,000 0 0
CODEXIS INC COM 192005106 6,768 1,600,000 SH   SOLE   1,600,000 0 0
CORIUM INTL INC COM 21887L107 2,883 355,000 SH   SOLE   355,000 0 0
CYNAPSUS THERAPEUTICS INC COM PAR NO PAR 23257Y859 1,682 110,000 SH   SOLE   110,000 0 0
CYTRX CORP COM PAR $.001 838828509 3,816 1,440,000 SH   SOLE   1,440,000 0 0
DEPOMED INC COM 249908104 5,439 300,000 SH   SOLE   300,000 0 0
EAGLE PHARMACEUTICALS INC COM 269796108 7,537 85,000 SH   SOLE   85,000 0 0
EVOKE PHARMA INC COM 30049G104 429 130,000 SH   SOLE   130,000 0 0
FIBROGEN INC COM 31572Q808 9,903 325,000 SH   SOLE   325,000 0 0
FLAMEL TECHNOLOGIES SA SPONSORED ADR 338488109 3,053 250,000 SH   SOLE   250,000 0 0
FOAMIX PHARMACEUTICALS LTD SHS M46135105 4,055 500,000 SH   SOLE   500,000 0 0
GERON CORP COM 374163103 8,833 1,825,000 SH   SOLE   1,825,000 0 0
IMMUNOMEDICS INC COM 452907108 890 290,000 SH   SOLE   290,000 0 0
IMPRIMIS PHARMACEUTICALS INC COM NEW 45323A201 8,351 1,205,000 SH   SOLE   1,205,000 0 0
INOTEK PHARMACEUTICALS CORP COM 45780VAA0 7,308 645,000 SH   SOLE   645,000 0 0
INTEC PHARMA LTD JERUSALEM SHS M53644106 3,377 630,000 SH   SOLE   630,000 0 0
LA JOLLA PHARMACEUTICAL CO COM PAR $.0001 2 503459904 3,780 140,000 SH   SOLE   140,000 0 0
MACROGENICS INC COM 556099109 1,084 35,000 SH   SOLE   35,000 0 0
MEDGENICS INC COM NEW 58436Q203 8,368 1,390,000 SH   SOLE   1,390,000 0 0
NABRIVA THERAPEUTICS AG SPONSORED ADR 62957M104 2,116 220,000 SH   SOLE   220,000 0 0
NEUROCRINE BIOSCIENCES INC COM 64125C109 3,111 55,000 SH   SOLE   55,000 0 0
OPHTHOTECH CORP COM 683745103 8,246 105,000 SH   SOLE   105,000 0 0
PROTALIX BIOTHERAPEUTICS INC COM 74365AAB7 8,262 8,100,000 SH   SOLE   8,100,000 0 0
RELYPSA INC COM 759531106 6,235 220,000 SH   SOLE   220,000 0 0
RETROPHIN INC COM 761299106 6,655 345,000 SH   SOLE   345,000 0 0
SAGE THERAPEUTICS INC COM 78667J108 5,830 100,000 SH   SOLE   100,000 0 0
SANGAMO BIOSCIENCES INC COM 800677106 548 60,000 SH   SOLE   60,000 0 0
SUPERNUS PHARMACEUTICALS INC COM 868459108 5,645 420,000 SH   SOLE   420,000 0 0
TENAX THERAPEUTICS INC COM 88032L100 1,771 540,000 SH   SOLE   540,000 0 0
TG THERAPEUTICS INC COM 88322Q108 3,579 300,000 SH   SOLE   300,000 0 0
TONIX PHARMACEUTICALS HLDG C COM NEW 890260201 4,334 565,000 SH   SOLE   565,000 0 0
TRILLIUM THERAPEUTICS INC COM NEW 89620X506 2,648 210,000 SH   SOLE   210,000 0 0
ULTRAGENYX PHARMACEUTICAL IN COM 90400D108 12,340 110,000 SH   SOLE   110,000 0 0
VITAE PHARMACEUTICALS INC COM 92847N103 1,059 58,500 SH   SOLE   58,500 0 0
XENON PHARMACEUTICALS INC COM 98420N105 2,412 300,000 SH   SOLE   300,000 0 0
XOMA CORP DEL COM 98419J107 2,261 1,700,000 SH   SOLE   1,700,000 0 0
ZOGENIX INC COM NEW 98978L105 2,211 150,000 SH   SOLE   150,000 0 0