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
AASTROM BIOSCIENCES INC COM 00253U305 1,437 5,189,214 SH   DFND 1 0 5,189,214 0
ACADIA PHARMACEUTICALS INC COM 004225108 11,719 426,600 SH   DFND 1 0 426,600 0
ACADIA PHARMACEUTICALS INC COM 004225908 81,976 29,842 SH Call DFND 1 0 29,842 0
ACADIA PHARMACEUTICALS INC COM 004225958 2,288 833 SH Put DFND 1 0 833 0
ACCURAY INC COM 004397105 739 100,000 SH   DFND 1 0 100,000 0
ACCURAY INC COM 004397905 188 254 SH Call DFND 1 0 254 0
ACCURAY INC COM 004397955 1,035 1,400 SH Put DFND 1 0 1,400 0
ACELRX PHARMACEUTICALS INC COM 00444T100 1,595 148,070 SH   DFND 1 0 148,070 0
ACELRX PHARMACEUTICALS INC COM 00444T900 215 200 SH Call DFND 1 0 200 0
ACHILLION PHARMACEUTICALS INC COM 00448Q201 1,464 484,879 SH   DFND 1 0 484,879 0
ACHILLION PHARMACEUTICALS INC COM 00448Q901 7,290 24,139 SH Call DFND 1 0 24,139 0
ACHILLION PHARMACEUTICALS INC COM 00448Q951 802 2,654 SH Put DFND 1 0 2,654 0
ACORDA THERAPEUTICS INC COM 00484M106 369 108 SH Call DFND 1 0 108 0
AEGERION PHARMACEUTICALS INC COM 00767E102 22,209 259,119 SH   DFND 1 0 259,119 0
AEGERION PHARMACEUTICALS INC COM 00767E902 18,856 2,200 SH Call DFND 1 0 2,200 0
AEGERION PHARMACEUTICALS INC COM 00767E952 26,390 3,079 SH Put DFND 1 0 3,079 0
AGENUS INC COM 00847G705 4,885 1,763,663 SH   DFND 1 0 1,763,663 0
AGENUS INC COM 00847G905 96 347 SH Call DFND 1 0 347 0
ALEXION PHARMACEUTICALS INC COM 015351109 12,963 1,116 SH Call DFND 1 0 1,116 0
ALEXZA PHARMACEUTICALS INC COM 015384909 1,044 2,040 SH Call DFND 1 0 2,040 0
ALLERGAN INC COM 018490902 22,974 2,540 SH Call DFND 1 0 2,540 0
ALLERGAN INC COM 018490952 18,388 2,033 SH Put DFND 1 0 2,033 0
AMARIN CORPORATION PLC -ADR ADR 023111206 1,162 183,845 SH   DFND 1 0 183,845 0
AMARIN CORPORATION PLC -ADR ADR 023111906 7,302 11,554 SH Call DFND 1 0 11,554 0
AMARIN CORPORATION PLC -ADR ADR 023111956 1,951 3,087 SH Put DFND 1 0 3,087 0
ANTHERA PHARMACEUTICALS INC COM 03674U201 7,053 1,754,600 SH   DFND 1 0 1,754,600 0
APRICUS BIOSCIENCES INC COM 03832V959 109 264 SH Put DFND 1 0 264 0
ARENA PHARMACEUTICALS INC COM 040047902 10,835 20,560 SH Call DFND 1 0 20,560 0
ARENA PHARMACEUTICALS INC COM 040047952 1,459 2,769 SH Put DFND 1 0 2,769 0
ARIAD PHARMACEUTICALS INC COM 04033A100 581 31,553 SH   DFND 1 0 31,553 0
ARIAD PHARMACEUTICALS INC COM 04033A900 1,601 870 SH Call DFND 1 0 870 0
ARIAD PHARMACEUTICALS INC COM 04033A950 2,997 1,629 SH Put DFND 1 0 1,629 0
ARROWHEAD RESEARCH CORP COM 042797909 250 439 SH Call DFND 1 0 439 0
ASTEX PHARMACEUTICALS INC COM 04624B103 845 99,703 SH   DFND 1 0 99,703 0
ASTEX PHARMACEUTICALS INC COM 04624B903 740 873 SH Call DFND 1 0 873 0
ASTEX PHARMACEUTICALS INC COM 04624B953 861 1,015 SH Put DFND 1 0 1,015 0
ASTRAZENECA PLC-SPONS ADR ADR 046353108 1,381 26,585 SH   DFND 1 0 26,585 0
ASTRAZENECA PLC-SPONS ADR ADR 046353908 1,252 241 SH Call DFND 1 0 241 0
ASTRAZENECA PLC-SPONS ADR ADR 046353958 10,698 2,060 SH Put DFND 1 0 2,060 0
ATHERSYS INC COM 04744L906 22 133 SH Call DFND 1 0 133 0
ATHERSYS INC COM 04744L956 40 245 SH Put DFND 1 0 245 0
AVANIR PHARMACEUTICALS INC CL A 05348P401 282 66,518 SH   DFND 1 0 66,518 0
AVANIR PHARMACEUTICALS INC CL A 05348P951 1,074 2,534 SH Put DFND 1 0 2,534 0
BAXTER INTERNATIONAL INC COM 071813909 10,944 1,666 SH Call DFND 1 0 1,666 0
BIOCRYST PHARMACEUTICALS INC COM 09058V903 446 613 SH Call DFND 1 0 613 0
BIOGEN IDEC INC COM 09062X903 21,042 874 SH Call DFND 1 0 874 0
BIOMARIN PHARMACEUTICAL INC COM 09061G901 3,012 417 SH Call DFND 1 0 417 0
BLACKBERRY LTD COM 09228F953 5,005 6,296 SH Put DFND 1 0 6,296 0
BRISTOL MYERS SQUIBB CO COM 110122908 28,411 6,139 SH Call DFND 1 0 6,139 0
BRISTOL MYERS SQUIBB CO COM 110122958 278 60 SH Put DFND 1 0 60 0
CELGENE CORP COM 151020904 12,422 807 SH Call DFND 1 0 807 0
CELGENE CORP COM 151020954 18,133 1,178 SH Put DFND 1 0 1,178 0
CELLDEX THERAPEUTICS INC COM 15117B103 1,133 31,979 SH   DFND 1 0 31,979 0
CELLDEX THERAPEUTICS INC COM 15117B903 16,234 4,582 SH Call DFND 1 0 4,582 0
CELLDEX THERAPEUTICS INC COM 15117B953 4,032 1,138 SH Put DFND 1 0 1,138 0
CELSION CORPORATION COM 15117N905 689 5,990 SH Call DFND 1 0 5,990 0
CELSION CORPORATION COM 15117N955 710 6,174 SH Put DFND 1 0 6,174 0
CEMPRA INC COM 15130J109 1,709 148,572 SH   DFND 1 0 148,572 0
CHEMOCENTRYX INC COM 16383L956 86 155 SH Put DFND 1 0 155 0
CONATUS PHARMACEUTICALS INC COM 20600T108 921 91,600 SH   DFND 1 0 91,600 0
CORONADO BIOSCIENCES INC COM 21976U909 748 1,066 SH Call DFND 1 0 1,066 0
CORONADO BIOSCIENCES INC COM 21976U959 304 433 SH Put DFND 1 0 433 0
CUBIST PHARMACEUTICALS INC COM 229678907 13,968 2,198 SH Call DFND 1 0 2,198 0
CUBIST PHARMACEUTICALS INC COM 229678957 394 62 SH Put DFND 1 0 62 0
CYBERONICS INC COM 23251P102 303 5,977 SH   DFND 1 0 5,977 0
CYBERONICS INC COM 23251P952 8,590 1,693 SH Put DFND 1 0 1,693 0
CYTRX CORP COM 232828909 40 125 SH Call DFND 1 0 125 0
DENDREON CORP COM 24823Q107 263 89,800 SH   DFND 1 0 89,800 0
DENDREON CORP COM 24823Q957 421 1,436 SH Put DFND 1 0 1,436 0
DYAX CORP COM 26746E103 682 99,458 SH   DFND 1 0 99,458 0
EDAP TMS SA -ADR ADR 268311107 3,187 1,259,500 SH   DFND 1 0 1,259,500 0
EDWARDS LIFESCIENCES CORP COM 28176E908 11,823 1,698 SH Call DFND 1 0 1,698 0
ELAN CORPORATION PLC ADR 284131908 1,714 1,100 SH Call DFND 1 0 1,100 0
ELI LILLY & CO COM 532457108 1,669 33,156 SH   DFND 1 0 33,156 0
ELI LILLY & CO COM 532457958 2,048 407 SH Put DFND 1 0 407 0
ENDOCYTE INC COM 29269A902 143 107 SH Call DFND 1 0 107 0
ENDOCYTE INC COM 29269A952 547 410 SH Put DFND 1 0 410 0
ENTREMED INC COM 29382F202 2,063 1,178,956 SH   DFND 1 0 1,178,956 0
EXACT SCIENCES CORP COM 30063P905 1,211 1,025 SH Call DFND 1 0 1,025 0
EXELIXIS INC COM 30161Q904 2,425 4,167 SH Call DFND 1 0 4,167 0
FIBROCELL SCIENCE INC COM 315721209 1,099 251,000 SH   DFND 1 0 251,000 0
GALENA BIOPHARMA INC COM 363256958 1,814 7,990 SH Put DFND 1 0 7,990 0
GERON CORP COM 374163103 366 109,375 SH   DFND 1 0 109,375 0
GERON CORP COM 374163903 376 1,122 SH Call DFND 1 0 1,122 0
GERON CORP COM 374163953 697 2,080 SH Put DFND 1 0 2,080 0
GILEAD SCIENCES INC COM 375558103 9,732 154,871 SH   DFND 1 0 154,871 0
GILEAD SCIENCES INC COM 375558903 15,710 2,500 SH Call DFND 1 0 2,500 0
GILEAD SCIENCES INC COM 375558953 53,452 8,506 SH Put DFND 1 0 8,506 0
GLAXOSMITHKLINE PLC ADR 37733W905 32,766 6,531 SH Call DFND 1 0 6,531 0
GLAXOSMITHKLINE PLC ADR 37733W955 5,920 1,180 SH Put DFND 1 0 1,180 0
HOLOGIC INC COM 436440901 2,292 1,110 SH Call DFND 1 0 1,110 0
IMMUNOCELLULAR THERAPEUTICS LTD COM 452536955 914 3,557 SH Put DFND 1 0 3,557 0
INCYTE CORP COM 45337C902 1,644 431 SH Call DFND 1 0 431 0
INFINITY PHARMACEUTICALS INC COM 45665G903 886 508 SH Call DFND 1 0 508 0
INSMED INC COM 457669957 2,248 1,440 SH Put DFND 1 0 1,440 0
INTERMUNE INC COM 45884X903 6,400 4,164 SH Call DFND 1 0 4,164 0
INTERMUNE INC COM 45884X953 2,596 1,689 SH Put DFND 1 0 1,689 0
ISHARES 20+ YEAR TREASURY BOND ETF ETF 464287902 45,220 4,250 SH Call DFND 1 0 4,250 0
ISHARES 20+ YEAR TREASURY BOND ETF ETF 464287952 23,940 2,250 SH Put DFND 1 0 2,250 0
ISHARES MSCI JAPAN ETF ETF 464286848 298 25,000 SH   DFND 1 0 25,000 0
ISHARES MSCI JAPAN ETF ETF 464286958 59,550 50,000 SH Put DFND 1 0 50,000 0
ISHARES RUSSELL 2000 ETF ETF 464287955 37,082 3,478 SH Put DFND 1 0 3,478 0
ISIS PHARMACEUTICALS INC COM 464330109 438 11,663 SH   DFND 1 0 11,663 0
ISIS PHARMACEUTICALS INC COM 464330909 488 130 SH Call DFND 1 0 130 0
ISIS PHARMACEUTICALS INC COM 464330959 3,762 1,002 SH Put DFND 1 0 1,002 0
ISORAY INC COM 46489V104 1,079 1,663,098 SH   DFND 1 0 1,663,098 0
KALOBIOS PHARMACEUTICALS INC COM 48344T100 476 105,408 SH   DFND 1 0 105,408 0
KERYX BIOPHARMACEUTICALS COM 492515101 383 37,890 SH   DFND 1 0 37,890 0
KERYX BIOPHARMACEUTICALS COM 492515901 554 549 SH Call DFND 1 0 333 0
KERYX BIOPHARMACEUTICALS COM 492515951 2,304 2,281 SH Put DFND 1 0 2,281 0
MANNKIND CORP COM 56400P201 5,324 934,021 SH   DFND 1 0 934,021 0
MANNKIND CORP COM 56400P901 20,024 35,130 SH Call DFND 1 0 35,130 0
MANNKIND CORP COM 56400P951 9,043 15,865 SH Put DFND 1 0 15,865 0
MAST THERAPEUTICS INC COM 576314108 1,598 3,639,571 SH   DFND 1 0 3,639,571 0
MEDICINES CO COM 584688905 2,028 605 SH Call DFND 1 0 605 0
MEDIVATION INC COM 58501N101 6,764 112,849 SH   DFND 1 0 112,849 0
MEDIVATION INC COM 58501N901 6,863 1,145 SH Call DFND 1 0 1,145 0
MEDIVATION INC COM 58501N951 29,478 4,918 SH Put DFND 1 0 4,918 0
MEI PHARMA COM 55279B902 454 400 SH Call DFND 1 0 400 0
MERCK & CO INC COM 58933Y905 82,165 17,258 SH Call DFND 1 0 17,258 0
MERCK & CO INC COM 58933Y955 1,395 293 SH Put DFND 1 0 293 0
MOMENTA PHARMACEUTICALS INC COM 60877T900 751 522 SH Call DFND 1 0 522 0
NANOSPHERE INC COM 63009F105 690 345,121 SH   DFND 1 0 345,121 0
NEKTAR THERAPEUTICS COM 640268908 686 656 SH Call DFND 1 0 656 0
NEKTAR THERAPEUTICS COM 640268958 941 900 SH Put DFND 1 0 900 0
NEUROMETRIX INC COM 64125C109 361 218,849 SH   DFND 1 0 218,849 0
NEWLINK GENETICS CORP COM 651511907 9,033 4,810 SH Call DFND 1 0 4,810 0
NORTHWEST BIOTHERAPEUTICS COM 66737P600 3,278 978,359 SH   DFND 1 0 978,359 0
NOVAVAX INC COM 670002104 2,765 875,000 SH   DFND 1 0 875,000 0
NUPATHE INC COM 67059M950 369 1,531 SH Put DFND 1 0 1,531 0
ONCOGENEX PHARMACEUTICAL INC COM 68230A106 3,806 410,577 SH   DFND 1 0 410,577 0
ONCOGENEX PHARMACEUTICAL INC COM 68230A956 1,527 1,647 SH Put DFND 1 0 1,647 0
ONCOLYTICS BIOTECH INC COM 682310907 24 100 SH Call DFND 1 0 100 0
ONCOTHYREON INC COM 682324108 1,359 659,600 SH   DFND 1 0 659,600 0
ONCOTHYREON INC COM 682324908 230 1,116 SH Call DFND 1 0 1,116 0
ONYX PHARMACEUTICALS INC COM 683399109 504 4,045 SH   DFND 1 0 4,045 0
ONYX PHARMACEUTICALS INC COM 683399909 2,481 199 SH Call DFND 1 0 199 0
OPKO HEALTH INC COM 68375N903 16,767 19,032 SH Call DFND 1 0 19,032 0
OPKO HEALTH INC COM 68375N953 6,027 6,841 SH Put DFND 1 0 6,841 0
OREXIGEN THERAPEUTICS INC COM 686164904 3,741 6,093 SH Call DFND 1 0 6,093 0
OREXIGEN THERAPEUTICS INC COM 686164954 345 562 SH Put DFND 1 0 562 0
OVASCIENCE INC COM 69014Q101 1,605 162,000 SH   DFND 1 0 162,000 0
OXYGEN BIOTHERAPEUTICS INC COM 69207P308 54 36,715 SH   DFND 1 0 36,715 0
PBF ENERGY INC CL A 69318G906 4,479 1,995 SH Call DFND 1 0 1,995 0
PHARMACYCLICS INC COM 716933106 1,709 12,350 SH   DFND 1 0 12,350 0
PHARMACYCLICS INC COM 716933906 6,229 450 SH Call DFND 1 0 450 0
PHARMACYCLICS INC COM 716933956 2,146 155 SH Put DFND 1 0 155 0
PLURISTEM THERAPEUTICS INC COM 72940R952 351 1,038 SH Put DFND 1 0 1,038 0
REGENERON PHARMACEUTICALS INC COM 75886F907 31,318 1,001 SH Call DFND 1 0 1,001 0
REGENERON PHARMACEUTICALS INC COM 75886F957 5,694 182 SH Put DFND 1 0 182 0
REPROS THERAPEUTICS INC COM 76028H209 3,961 147,783 SH   DFND 1 0 147,783 0
REPROS THERAPEUTICS INC COM 76028H909 2,318 865 SH Call DFND 1 0 865 0
REPROS THERAPEUTICS INC COM 76028H959 15,362 5,732 SH Put DFND 1 0 5,732 0
REXAHN PHARMACEUTICALS INC COM 761640101 1,013 2,250,840 SH   DFND 1 0 2,250,840 0
RIGEL PHARMACEUTICALS INC COM 766559603 710 198,259 SH   DFND 1 0 198,259 0
SALIX PHARMACEUTICALS LTD COM 795435106 473 7,073 SH   DFND 1 0 7,073 0
SAREPTA THERAPEUTICS INC COM 803607100 24,656 522,041 SH   DFND 1 0 522,041 0
SAREPTA THERAPEUTICS INC COM 803607900 12,795 2,709 SH Call DFND 1 0 2,709 0
SAREPTA THERAPEUTICS INC COM 803607950 61,531 13,028 SH Put DFND 1 0 13,028 0
SEQUENOM INC COM 817337405 41 15,400 SH   DFND 1 0 15,400 0
SEQUENOM INC COM 817337905 78 293 SH Call DFND 1 0 293 0
SEQUENOM INC COM 817337955 55 205 SH Put DFND 1 0 205 0
SOLAZYME INC COM 83415T101 2,136 198,350 SH   DFND 1 0 198,350 0
SOLAZYME INC COM 83415T950 2,115 1,964 SH Put DFND 1 0 1,964 0
SPDR S&P 500 ETF TRUST TRUST UNITS UNIT 78462F953 37,823 2,250 SH Put DFND 1 0 2,250 0
SUPERCONDUCTOR TECHNOLOGIES COM 867931404 1,004 619,600 SH   DFND 1 0 619,600 0
SYNAGEVA BIOPHARMA CORP COM 87159A903 5,825 920 SH Call DFND 1 0 920 0
SYNTA PHARMACEUTICALS CORP COM 87162T206 1,584 250,952 SH   DFND 1 0 250,952 0
SYNTA PHARMACEUTICALS CORP COM 87162T906 791 1,253 SH Call DFND 1 0 1,253 0
SYNTA PHARMACEUTICALS CORP COM 87162T956 1,887 2,991 SH Put DFND 1 0 2,991 0
TEVA PHARMACEUTICAL INDUSTRIES LTD COM 881624209 1,081 28,603 SH   DFND 1 0 28,603 0
TEVA PHARMACEUTICAL INDUSTRIES LTD COM 881624909 2,520 667 SH Call DFND 1 0 667 0
TEVA PHARMACEUTICAL INDUSTRIES LTD COM 881624959 3,589 950 SH Put DFND 1 0 950 0
TG THERAPEUTICS INC COM 88322Q108 1,402 275,479 SH   DFND 1 0 275,479 0
THERAVANCE INC COM 88338T904 2,380 582 SH Call DFND 1 0 582 0
TONIX PHARMACEUTICALS HOLDING COM 890110109 1,024 288,454 SH   DFND 1 0 288,454 0
TRANSCEPT PHARMACEUTICALS INC COM 89354M106 552 173,500 SH   DFND 1 0 173,500 0
TRANSCEPT PHARMACEUTICALS INC COM 89354M956 551 1,733 SH Put DFND 1 0 1,733 0
UNI-PIXEL INC COM 904572903 1,200 677 SH Call DFND 1 0 677 0
UNI-PIXEL INC COM 904572953 1,769 998 SH Put DFND 1 0 998 0
UNITED THERAPEUTICS CORP COM 91307C902 1,325 168 SH Call DFND 1 0 168 0
VANDA PHARMACEUTICALS INC COM 921659908 2,004 1,827 SH Call DFND 1 0 1,827 0
VANDA PHARMACEUTICALS INC COM 921659958 1,662 1,515 SH Put DFND 1 0 1,515 0
VERTEX PHARMACEUTICALS INC COM 92532F100 25,548 336,955 SH   DFND 1 0 336,955 0
VERTEX PHARMACEUTICALS INC COM 92532F900 188,716 24,890 SH Call DFND 1 0 24,890 0
VERTEX PHARMACEUTICALS INC COM 92532F950 49,670 6,551 SH Put DFND 1 0 6,551 0
VICAL INC COM 925602104 727 581,595 SH   DFND 1 0 581,595 0
VIVUS INC COM 928551900 722 775 SH Call DFND 1 0 775 0
VIVUS INC COM 928551950 572 614 SH Put DFND 1 0 614 0
WELLCARE HEALTH PLANS INC COM 94946T906 12,979 1,861 SH Call DFND 1 0 1,861 0
XOMA CORP COM 98419J107 2,041 455,672 SH   DFND 1 0 455,672 0
XOMA CORP COM 98419J957 742 1,656 SH Put DFND 1 0 1,656 0
ZIOPHARM ONCOLOGY INC COM 98973P901 972 2,462 SH Call DFND 1 0 2,462 0
ZIOPHARM ONCOLOGY INC COM 98973P951 712 1,803 SH Put DFND 1 0 1,803 0