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
COVIDIEN PLC SHS G2554F113 4,242 67,500 SH   SOLE 0 67,500 0 0
KAMADA LTD SHS M6240T109 4,407 394,860 SH   SOLE 0 394,860 0 0
ACADIA PHARMACEUTICALS INC COM 004225108 13,188 726,629 SH   SOLE 0 726,629 0 0
ACELRX PHARMACEUTICALS INC COM 00444T100 46,428 5,008,400 SH   SOLE 0 5,008,400 0 0
AEGERION PHARMACEUTICALS INC COM 00767e102 226,341 3,573,426 SH   SOLE 0 3,573,426 0 0
AETNA INC NEW COM 00817Y108 7,169 112,825 SH   SOLE 0 112,825 0 0
ALERE INC COM 01449J105 20 800 SH   SOLE 0 800 0 0
AMARIN CORP PLC SPONS ADR NEW 023111206 1,119 193,000 PRN Put SOLE 0 193,000 0 0
AMSURG CORP COM 03232P405 20 565 SH   SOLE 0 565 0 0
ANACOR PHARMACEUTICALS INC COM 032420101 3,258 582,835 SH   SOLE 0 582,835 0 0
ANTHERA PHARMACEUTICALS INC COM 03674U102 1,598 3,451,655 SH   SOLE 0 3,451,655 0 0
ARENA PHARMACEUTICALS INC COM 040047102 3,028 393,200 PRN Put SOLE 0 393,200 0 0
ARRAY BIOPHARMA INC COM 04269X105 88 19,320 SH   SOLE 0 19,320 0 0
ASTEX PHARMACEUTICALS INC COM 04624B103 6,779 1,649,423 SH   SOLE 0 1,649,423 0 0
ATHERSYS INC COM 04744L106 5,775 3,479,206 SH   SOLE 0 3,479,206 0 0
BIODELIVERY SCIENCES INTL IN COM 09060J106 1,939 477,600 SH   SOLE 0 477,600 0 0
BIOGEN IDEC INC COM 09062X103 49,772 231,282 SH   SOLE 0 231,282 0 0
BIOMED REALTY TRUST INC COM 09063H107 1,012 50,000 SH   SOLE 0 50,000 0 0
CIGNA CORPORATION COM 125509109 21 290 SH   SOLE 0 290 0 0
CAPITAL SR LIVING CORP COM 140475104 21,305 891,408 SH   SOLE 0 891,408 0 0
CELGENE CORP COM 151020104 11,260 96,256 SH   SOLE 0 96,256 0 0
CEMPRA INC COM 15130J109 1,554 200,000 SH   SOLE 0 200,000 0 0
CHAMPIONS ONCOLOGY INC RSTD COM 15870P109 1,989 1,808,244 SH   SOLE 0 1,808,244 0 0
CHELSEA THERAPEUTICS INTL LT COM 163428105 10,714 4,658,680 SH   SOLE 0 4,658,680 0 0
CLOVIS ONCOLOGY INC COM 189464100 9,433 140,827 SH   SOLE 0 140,827 0 0
COMBIMATRIX CORPORATION *W EXP 05/01/201 20009T121 1 5,000 SH   SOLE 0 5,000 0 0
CURIS INC COM 231269101 4,442 1,392,564 SH   SOLE 0 1,392,564 0 0
CUTERA INC COM 232109108 421 47,869 SH   SOLE 0 47,869 0 0
CYCLACEL PHARMACEUTICALS INC COM NEW 23254L306 1,033 350,000 SH   SOLE 0 350,000 0 0
DYAX CORP COM 26746e103 5,960 1,722,502 SH   SOLE 0 1,722,502 0 0
ELAN PLC ADR 284131208 6,830 483,000 SH   SOLE 0 483,000 0 0
ENDO HEALTH SOLUTIONS INC COM 29264F205 19 530 SH   SOLE 0 530 0 0
ENDOCYTE INC COM 29269A102 903 68,806 SH   SOLE 0 68,806 0 0
EPIZYME INC COM 29428V104 506 18,000 SH   SOLE 0 18,000 0 0
EXACT SCIENCES CORP COM 30063P105 22,945 1,649,558 SH   SOLE 0 1,649,558 0 0
GILEAD SCIENCES INC COM 375558103 2,476 48,300 PRN Put SOLE 0 48,300 0 0
GILEAD SCIENCES INC COM 375558103 40,419 788,360 SH   SOLE 0 788,360 0 0
HCA HOLDINGS INC COM 40412C101 11,127 308,560 SH   SOLE 0 308,560 0 0
HANGER INC COM NEW 41043F208 20 630 SH   SOLE 0 630 0 0
HEALTHSOUTH CORP COM NEW 421924309 20 695 SH   SOLE 0 695 0 0
HEALTH MGMT ASSOC INC NEW CL A 421933102 20 1,265 SH   SOLE 0 1,265 0 0
HILL ROM HLDGS INC COM 431475102 20 590 SH   SOLE 0 590 0 0
IMMUNOMEDICS INC COM 452907108 4,021 739,144 SH   SOLE 0 739,144 0 0
INFINITY PHARMACEUTICALS INC COM 45665G303 1,813 111,940 SH   SOLE 0 111,940 0 0
INTERMUNE INC COM 45884X103 2,886 300,000 SH   SOLE 0 300,000 0 0
ISHARES TR NASDQ BIO INDX 464287556 46,843 269,400 PRN Put SOLE 0 269,400 0 0
KERYX BIOPHARMACEUTICALS INC COM 492515101 374 50,000 SH   SOLE 0 50,000 0 0
LIPOSCIENCE INC COM 53630M108 575 82,292 SH   SOLE 0 82,292 0 0
MGC DIAGNOSTICS CORP COM 552768103 1,457 174,449 SH   SOLE 0 174,449 0 0
MAGELLAN HEALTH SVCS INC COM NEW 559079207 20 365 SH   SOLE 0 365 0 0
MEDASSETS INC COM 584045108 20 1,150 SH   SOLE 0 1,150 0 0
MEDGENICS INC COM NEW 58436Q203 570 150,000 SH   SOLE 0 150,000 0 0
MEDNAX INC COM 58502B106 21 225 SH   SOLE 0 225 0 0
MOLINA HEALTHCARE INC COM 60855R100 20 550 SH   SOLE 0 550 0 0
NPS PHARMACEUTICALS INC COM 62936P103 8,498 562,400 SH   SOLE 0 562,400 0 0
NAVIDEA BIOPHARMACEUTICALS I COM 63937X103 53 20,000 PRN Put SOLE 0 20,000 0 0
NEOSTEM INC COM NEW 640650305 1,840 3,315,938 SH   SOLE 0 3,315,938 0 0
NEPTUNE TECHNOLOGIES BIORESO COM 64077P108 17,602 5,422,920 SH   SOLE 0 5,422,920 0 0
NEUROCRINE BIOSCIENCES INC COM 64125C109 4,014 300,000 PRN Put SOLE 0 300,000 0 0
NEUROCRINE BIOSCIENCES INC COM 64125C109 67,993 5,081,717 SH   SOLE 0 5,081,717 0 0
OMNICARE INC COM 681904108 20 425 SH   SOLE 0 425 0 0
OPTIMER PHARMACEUTICALS INC COM 68401H104 7,184 496,500 PRN Put SOLE 0 496,500 0 0
PROGENICS PHARMACEUTICALS IN COM 743187106 1,368 306,650 SH   SOLE 0 306,650 0 0
QUEST DIAGNOSTICS INC COM 74834L100 20 325 SH   SOLE 0 325 0 0
QUESTCOR PHARMACEUTICALS INC COM 74835Y101 2,272 50,000 PRN Call SOLE 0 50,000 0 0
QUESTCOR PHARMACEUTICALS INC COM 74835Y101 1,917 42,186 SH   SOLE 0 42,186 0 0
REGENERON PHARMACEUTICALS COM 75886F107 31,328 139,310 SH   SOLE 0 139,310 0 0
REPROS THERAPEUTICS INC COM NEW 76028H209 3,347 181,430 SH   SOLE 0 181,430 0 0
SALIX PHARMACEUTICALS INC COM 795435106 9,807 148,250 SH   SOLE 0 148,250 0 0
SANTARUS INC COM 802817304 13,156 625,000 SH   SOLE 0 625,000 0 0
SAREPTA THERAPEUTICS INC COM 803607100 10,461 275,000 PRN Call SOLE 0 275,000 0 0
SAREPTA THERAPEUTICS INC COM 803607100 14,950 393,000 PRN Put SOLE 0 393,000 0 0
SAREPTA THERAPEUTICS INC COM 803607100 103,521 2,722,088 SH   SOLE 0 2,722,088 0 0
SEATTLE GENETICS INC COM 812578102 1,573 50,000 PRN Put SOLE 0 50,000 0 0
SEQUENOM INC COM NEW 817337405 4,148 985,180 SH   SOLE 0 985,180 0 0
SHIRE PLC SPONSORED ADR 82481R106 7,685 80,800 SH   SOLE 0 80,800 0 0
SPECTRANETICS CORP COM 84760C107 6,310 337,797 SH   SOLE 0 337,797 0 0
STEMCELLS INC COM NEW 85857R204 382 231,600 SH   SOLE 0 231,600 0 0
STEMLINE THERAPEUTICS INC COM 85858C107 14,105 591,650 SH   SOLE 0 591,650 0 0
SUNESIS PHARMACEUTICALS INC COM NEW 867328601 301 58,010 SH   SOLE 0 58,010 0 0
SYNTA PHARMACEUTICALS CORP COM 87162T206 13,439 2,693,236 SH   SOLE 0 2,693,236 0 0
TEKMIRA PHARMACEUTICALS CORP COM NEW 87911B209 1,244 270,000 SH   SOLE 0 270,000 0 0
TESARO INC COM 881569107 30,137 920,494 SH   SOLE 0 920,494 0 0
TRANSGENOMIC INC COM 89365K206 883 2,207,500 SH   SOLE 0 2,207,500 0 0
UNITEDHEALTH GROUP INC COM 91324P102 21 315 SH   SOLE 0 315 0 0
UROPLASTY INC COM NEW 917277204 619 299,113 SH   SOLE 0 299,113 0 0
VCA ANTECH INC COM 918194101 20 780 SH   SOLE 0 780 0 0
VERTEX PHARMACEUTICALS INC COM 92532F100 20,539 256,547 SH   SOLE 0 256,547 0 0
VICAL INC COM 925602104 1,252 400,000 PRN Call SOLE 0 400,000 0 0
VIROPHARMA INC COM 928241108 1,384 48,300 SH   SOLE 0 48,300 0 0
WELLCARE HEALTH PLANS INC COM 94946T106 21 385 SH   SOLE 0 385 0 0
WELLPOINT INC COM 94973V107 21 255 SH   SOLE 0 255 0 0