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
La Jolla Pharmaceutical Company Cmn Di COM 0 19,131 780,547 SH   SOLE 0 780,547 0 0
Achillion Pharmaceuticals Inc COM 00448Q201 22,287 2,515,433 SH   SOLE 0 2,515,433 0 0
Agenus Inc COM 00847G705 17,717 2,052,915 SH   SOLE 0 2,052,915 0 0
Berkshire Hathaway Inc COM 084670702 7 50 SH   SOLE 0 50 0 0
bluebird bio Inc COM 09609G100 17,679 105,000 SH   SOLE 0 105,000 0 0
Celldex Therapeutics Inc COM 15117B103 11,893 471,554 SH   SOLE 0 471,554 0 0
CytRx Corp COM 232828509 1,662 446,714 SH   SOLE 0 446,714 0 0
Dicerna Pharmaceuticals Inc COM 253031108 17,854 1,279,886 SH   SOLE 0 1,279,886 0 0
Five Prime Therapeutics Inc COM 33830X104 13,921 560,437 SH   SOLE 0 560,437 0 0
Fortress Biotech Inc COM 34960Q109 40 11,917 SH   SOLE 0 11,917 0 0
Incyte Corp COM 45337C102 20,321 195,000 SH   SOLE 0 195,000 0 0
Kite Pharma Inc COM 49803L109 24,388 400,000 SH   SOLE 0 400,000 0 0
NewLink Genetics Corp COM 651511107 4,427 100,000 SH   SOLE 0 100,000 0 0
Targacept Inc COM 87611R306 7,437 2,665,643 SH   SOLE 0 2,665,643 0 0
Meridian Bioscience Inc. VIVO 10/16/2015 CALL 20 LONG OPTION CALLS 589584901 260 3,756 PRN Call SOLE 0 3,756 0 0
Alnylam Pharmaceuticals Inc COM 02043Q107 49,268 411,016 SH   SOLE 0 411,016 0 0
Arrowhead Research Corp COM 042797209 18,304 2,560,000 SH   SOLE 0 2,560,000 0 0
BioCryst Pharmaceuticals Inc COM 09058V103 33,762 2,261,361 SH   SOLE 0 2,261,361 0 0
Bristol Myers Squibb Co 01/15/2016 CALL 60 LONG OPTION CALLS 110122908 6,113 7,500 PRN Call SOLE 0 7,500 0 0
Bristol-Myers Squibb Co COM 110122108 6,485 97,454 SH   SOLE 0 97,454 0 0
Corium International Inc COM 21887L107 4,860 355,007 SH   SOLE 0 355,007 0 0
Dyax Corp COM 26746E103 14,817 559,141 SH   SOLE 0 559,141 0 0
iShares 20+ Year Treasury Bond ETF COM 464287432 3,876 33,000 SH   SOLE 0 33,000 0 0
La Jolla Pharmaceutical Co COM 503459604 6,953 283,700 SH   SOLE 0 283,700 0 0
Lipocine Inc COM 53630X104 1,796 209,333 SH   SOLE 0 209,333 0 0
Repros Therapeutics Inc COM 76028H209 1,640 229,364 SH   SOLE 0 229,364 0 0
Symmetry Surgical Inc COM 87159G100 6,111 700,851 SH   SOLE 0 700,851 0 0
United States Oil ETF COM 91232N108 3,280 165,000 SH   SOLE 0 165,000 0 0
Valeant Pharmaceuticals Intl VRX 10/16/2015 CALL 260 LONG OPTION CALLS 91911K902 78 150 PRN Call SOLE 0 150 0 0
Zogenix Inc COM 98978L204 192 114,128 SH   SOLE 0 114,128 0 0
Adaptimmune Therapeutics-adr COM 00653A107 367 20,000 SH   SOLE 0 20,000 0 0
Biopharmx Corp COM 09072X101 949 370,636 SH   SOLE 0 370,636 0 0
Invuity Inc COM 46187J205 2,330 165,000 SH   SOLE 0 165,000 0 0
Nivalis Therapeutics Inc COM 65481J109 455 30,000 SH   SOLE 0 30,000 0 0
Presbia Plc COM G7234P100 2,877 350,000 SH   SOLE 0 350,000 0 0