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
Estimated average burden
hours per response: 23.8
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
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 4,742 60,000 SH   SOLE   60,000 0 0
ATYR PHARMA INC COM 002120103 749 190,000 SH   SOLE   190,000 0 0
BIOCRYST PHARMACEUTICALS COM 09058V103 1,217 430,000 SH   SOLE   430,000 0 0
BIOMARIN PHARMACEUTICAL INC COM 09061G101 7,441 90,215 SH   SOLE   90,215 0 0
CELLDEX THERAPEUTICS INC COM 15117B103 189 50,000 SH   SOLE   50,000 0 0
HERON THERAPEUTICS INC COM 427746102 92,434 4,867,530 SH   SOLE   4,867,530 0 0
HERON THERAPEUTICS INC COM 427746102 6,140 323,307 SH   OTR 1 0 323,307 0
IGNYTA INC COM 451731103 271 40,000 SH   SOLE   40,000 0 0
INFINITY PHARMACEUTICALS INC COM 45665G303 2,424 460,000 SH   SOLE   460,000 0 0
LA JOLLA PHARMACEUTICAL CO COM 503459604 63,820 3,052,130 SH   SOLE   3,052,130 0 0
LIPOCINE INC COM 53630X104 1,015 100,000 SH   SOLE   100,000 0 0
MERRIMACK PHARMACEUTICALS INC NOTE 4.5% 7/15/20 590328AA8 5,233 3,500,000 PRN   SOLE   3,500,000 0 0
NEKTAR THERAPEUTICS COM 640268108 3,575 260,000 SH   SOLE   260,000 0 0
OPKO HEALTH INC COM 68375N103 3,637 350,000 SH   SOLE   350,000 0 0
OPKO HEALTH INC DEBT 3.0% 2/1/33 68375NAB9 21,833 14,000,000 PRN   SOLE   14,000,000 0 0
SAREPTA THERAPEUTICS INC COM 803607100 4,880 250,000 SH   SOLE   250,000 0 0