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
ACCELERATE DIAGNOSTICS INC COM 00430H102 1,537 95,000 SH   SOLE   95,000 0 0
ADAMAS PHARMACEUTICALS INC COM 00548A106 2,774 165,700 SH   SOLE   165,700 0 0
AFFIMED N V COM N01045108 3,642 590,300 SH   SOLE   590,300 0 0
AGILE THERAPEUTICS INC COM 00847L100 2,595 385,000 SH   SOLE   385,000 0 0
ALDER PHARMACEUTICALS INC COM 014339105 527 16,100 SH   SOLE   16,100 0 0
AMAG PHARMACEUTICALS INC COM 00163U106 7,946 200,000 SH   SOLE   200,000 0 0
AMARIN CORP PLC SPONS ADR NEW 023111206 3,397 1,760,000 SH   SOLE   1,760,000 0 0
ARIAD PHARMACEUTICALS INC COM 04033A100 7,650 1,310,000 SH   SOLE   1,310,000 0 0
AURIS MED HLDG AG COM H03579101 1,264 355,000 SH   SOLE   355,000 0 0
AVINGER INC COM 053734109 2,574 175,000 SH   SOLE   175,000 0 0
AXOGEN INC COM 05463X106 8,734 2,120,000 SH   SOLE   2,120,000 0 0
BIOLINERX LTD SPONSORED ADR 09071M106 383 250,000 SH   SOLE   250,000 0 0
BLUEPRINT MEDICINES CORP RIGHTS 09627Y109 2,774 130,000 SH   SOLE   130,000 0 0
CARA THERAPEUTICS INC COM 140755109 5,930 415,000 SH   SOLE   415,000 0 0
CELGENE CORP RIGHTS 12/31/2030 151020112 547 340,000 SH   SOLE   340,000 0 0
CEMPRA INC COM 15130J109 10,022 360,000 SH   SOLE   360,000 0 0
CHIMERIX INC COM 16934W106 11,842 310,000 SH   SOLE   310,000 0 0
CODEXIS INC COM 192005106 5,492 1,620,000 SH   SOLE   1,620,000 0 0
CYNAPSUS THERAPEUTICS INC COM 23257Y859 469 29,000 SH   SOLE   29,000 0 0
CYTRX CORP COM PAR $.001 838828509 3,614 1,525,000 SH   SOLE   1,525,000 0 0
EAGLE PHARMACEUTICALS INC COM 269796108 5,419 73,200 SH   SOLE   73,200 0 0
EVOKE PHARMA INC COM 30049G104 757 260,000 SH   SOLE   260,000 0 0
FIBROGEN INC COM 31572Q808 7,124 325,000 SH   SOLE   325,000 0 0
FLAMEL TECHNOLOGIES SA SPONSORED ADR 338488109 5,056 310,000 SH   SOLE   310,000 0 0
FOAMIX PHARMACEUTICALS LTD SHS M46135105 2,089 285,000 SH   SOLE   285,000 0 0
GERON CORP COM 374163103 5,037 1,825,000 SH   SOLE   1,825,000 0 0
IMPRIMIS PHARMACEUTICALS INC COM NEW 45323A201 7,736 1,205,000 SH   SOLE   1,205,000 0 0
INNOCOLL AG SPONSORED ADR 45780Q103 695 55,543 SH   SOLE   55,543 0 0
INOTEK PHARMACEUTICALS CORP COM 45780VAA0 6,042 642,800 SH   SOLE   642,800 0 0
INTEC PHARMA LTD JERUSALEM SHS M53644106 3,528 630,000 SH   SOLE   630,000 0 0
MEDGENICS INC COM NEW 58436Q203 8,277 1,058,400 SH   SOLE   1,058,400 0 0
MOMENTA PHARMACEUTICALS INC COM 60877T100 2,626 160,000 SH   SOLE   160,000 0 0
NEUROCRINE BIOSCIENCES INC COM 64125C109 4,973 125,000 SH   SOLE   125,000 0 0
NIVALIS THERAPEUTICS INC COM 65481J109 2,272 175,200 SH   SOLE   175,200 0 0
OPHTHOTECH CORP COM 683745103 4,255 105,000 SH   SOLE   105,000 0 0
PROTALIX BIOTHERAPEUTICS INC COM 74365AAB7 4,295 3,640,000 SH   SOLE   3,640,000 0 0
RETROPHIN INC COM 761299106 7,496 370,000 SH   SOLE   370,000 0 0
SAGE THERAPEUTICS INC COM 78667J108 846 20,000 SH   SOLE   20,000 0 0
SUPERNUS PHARMACEUTICALS INC COM 868459108 6,454 460,000 SH   SOLE   460,000 0 0
TENAX THERAPEUTICS INC COM 88032L100 1,905 635,000 SH   SOLE   635,000 0 0
TG THERAPEUTICS INC COM 88322Q108 2,621 260,000 SH   SOLE   260,000 0 0
TONIX PHARMACEUTICALS HLDG C COM NEW 890260201 3,015 570,000 SH   SOLE   570,000 0 0
TRACON PHARMACEUTICALS INC COM 89237H10A 119 12,172 SH   SOLE   12,172 0 0
TRILLIUM THERAPEUTICS INC COM NEW 89620X506 3,196 245,275 SH   SOLE   245,275 0 0
ULTRAGENYX PHARMACEUTICAL IN COM 90400D108 10,594 110,000 SH   SOLE   110,000 0 0
XOMA CORP DEL COM 98419J107 2,218 2,950,000 SH   SOLE   2,950,000 0 0
XENON PHARMACEUTICALS INC COM 98420N105 1,250 151,300 SH   SOLE   151,300 0 0
ZOGENIX INC COM 98978L105 3,375 250,000 SH   SOLE   250,000 0 0
ZS PHARMA INC COM 98979G105 6,238 95,000 SH   SOLE   95,000 0 0