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
ABEONA THERAPEUTICS COM 00289Y107 451 111,342 SH   SOLE   111,342 0 0
ACCELERATE DIAGNOSTICS INC COM 00430H102 243 15,000 SH Put SOLE   15,000 0 0
AGENUS COM 00847G705 2,346 510,000 SH   SOLE   510,000 0 0
AGILE THERAPEUTICS COM 00847L100 952 141,309 SH   SOLE   141,309 0 0
ALIMERA SCIENCES SHS 016259103 2,153 974,318 SH   SOLE   974,318 0 0
AMICUS THERAPEUTICS COM 03152W109 19,651 1,404,667 SH   SOLE   1,404,667 0 0
APPLIED GENETIC TECHNOL COM 03820J100 2,906 221,138 SH   SOLE   221,138 0 0
ARRAY BIOPHARMA COM 04269X105 2,189 480,020 SH   SOLE   480,020 0 0
ARROWHEAD RESH CORP COM 042797209 288 50,000 SH Put SOLE   50,000 0 0
ASCENDIS PHARMA A S SPONS ADR 04351P101 8,317 469,893 SH   SOLE   469,893 0 0
AURINIA PHARMACEUTICALS COM 05156V102 1,072 377,427 SH   SOLE   377,427 0 0
AXOVANT SCIENCES COM G0750W104 1,809 140,000 SH   SOLE   140,000 0 0
BIOCRYST PHARMACEUTICALS COM 09058V103 3,094 271,399 SH   SOLE   271,399 0 0
BIODEL COM 09064M204 1,121 2,548,830 SH   SOLE   2,548,830 0 0
BIODELIVERY SCIENCES INTL COM 09060J106 1,179 212,100 SH   SOLE   212,100 0 0
BIOTELEMETRY COM 090672106 5,508 450,000 SH   SOLE   450,000 0 0
BUILD A BEAR WORKSHOP COM 120076104 2,888 152,876 SH   SOLE   152,876 0 0
CARDICA COM 14141R101 499 1,849,436 SH   SOLE   1,849,436 0 0
CARDIOME PHARMA COM NO PAR 14159U301 780 92,397 SH   SOLE   92,397 0 0
CARROLS RESTAURANT GROUP COM 14574X104 1,531 128,643 SH   SOLE   128,643 0 0
CAS MED SYS INC COM PAR $0.004 124769209 3,184 2,547,299 SH   SOLE   2,547,299 0 0
CELLADON COM 15117E107 861 819,710 SH   SOLE   819,710 0 0
CEMPRA COM 15130J109 418 15,000 SH   SOLE   15,000 0 0
CIDARA THERAPEUTICS COM 171757107 752 59,127 SH   SOLE   59,127 0 0
CLOVIS ONCOLOGY INC COM 189464100 1,379 15,000 SH Call SOLE   0 0 0
COMBIMATRIX CORPORATION COM 20009T303 1,001 893,644 SH   SOLE   893,644 0 0
CUTERA COM 232109108 1,529 116,921 SH   SOLE   116,921 0 0
CYNAPSUS THERAPEUTICS INC COM PAR NO PAR 23257Y859 5,070 313,524 SH   SOLE   313,524 0 0
EPIZYME COM 29428V104 1,800 140,000 SH   SOLE   140,000 0 0
ESSA PHARMA INC COM 29668H104 1,797 288,400 SH   SOLE   288,400 0 0
EXELIXIS COM 30161Q104 10,547 1,880,004 SH   SOLE   1,880,004 0 0
FLEX PHARMA COM 33938A105 1,065 88,716 SH   SOLE   88,716 0 0
HISTOGENICS COM 43358V109 491 123,249 SH   SOLE   123,249 0 0
IMMUNOMEDICS COM 452907108 2,943 1,711,067 SH   SOLE   1,711,067 0 0
INNOCOLL AG SPONS ADR 45780Q103 3,430 273,981 SH   SOLE   273,981 0 0
IRIDEX COM 462684101 3,023 397,196 SH   SOLE   397,196 0 0
ISHARES MSCI AUST ETF 464286103 896 50,000 SH Put SOLE   50,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 7,645 70,000 SH Put SOLE   70,000 0 0
KINDRED BIOSCIENCES COM 494577109 260 50,000 SH   SOLE   50,000 0 0
LA JOLLA PHARMACEUTICAL CO COM PAR $.0001 2 503459604 3,397 122,222 SH   SOLE   122,222 0 0
LEXICON PHARMACEUTICALS COM 528872302 4,296 400,000 SH   SOLE   400,000 0 0
LION BIOTECHNOLOGIES COM 53619R102 7,574 1,314,959 SH   SOLE   1,314,959 0 0
NABRIVA THERAPEUTICS AG SPONS ADR 62957M104 3,337 351,261 SH   SOLE   351,261 0 0
NEURODERM LTD ORD SHS M74231107 10,265 496,630 SH   SOLE   496,630 0 0
ORGANOVO HLDGS INC COM 68620A104 322 120,000 SH Put SOLE   120,000 0 0
OXFORD IMMUNOTEC GLOBAL PLC ORD SHS G6855A103 2,494 184,746 SH   SOLE   184,746 0 0
PERNIX THERAPEUTICS HLDGS COM 71426V108 3,504 1,108,719 SH   SOLE   1,108,719 0 0
RIGEL PHARMACEUTICALS COM 766559603 494 200,000 SH   SOLE   200,000 0 0
RR MEDIA LTD SHS M8183P102 3,849 469,350 SH   SOLE   469,350 0 0
SAGENT PHARMACEUTICALS COM 786692103 2,800 182,618 SH   SOLE   182,618 0 0
SAREPTA THERAPEUTICS COM 803607100 1,019 31,744 SH   SOLE   31,744 0 0
SORRENTO THERAPEUTICS COM 83587F202 2,517 300,000 SH   SOLE   300,000 0 0
SPDR SERIES TRUST S&P BIOTECH 78464A870 4,357 70,000 SH Put SOLE   70,000 0 0
SPECTRANETICS CORP COM 84760C107 3,065 260,000 SH   SOLE   260,000 0 0
SPECTRANETICS CORP MTNF 2.625% 6/0 84760CAA5 3,020 4,000,000 PRN   SOLE   0 0 4,000,000
VERACYTE COM 92337F107 4,244 905,000 SH   SOLE   905,000 0 0
WEBMD HEALTH COM 94770V102 3,175 79,702 SH   SOLE   79,702 0 0
ZAFGEN COM 98885E103 1,646 51,519 SH   SOLE   51,519 0 0
ZOSANO PHARMA COM 98979H103 292 73,826 SH   SOLE   73,826 0 0