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 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
COVIDIEN PLCSHSG2554F1134,24267,500SH SOLE067,50000
KAMADA LTDSHSM6240T1094,407394,860SH SOLE0394,86000
ACADIA PHARMACEUTICALS INCCOM00422510813,188726,629SH SOLE0726,62900
ACELRX PHARMACEUTICALS INCCOM00444T10046,4285,008,400SH SOLE05,008,40000
AEGERION PHARMACEUTICALS INCCOM00767e102226,3413,573,426SH SOLE03,573,42600
AETNA INC NEWCOM00817Y1087,169112,825SH SOLE0112,82500
ALERE INCCOM01449J10520800SH SOLE080000
AMARIN CORP PLCSPONS ADR NEW0231112061,119193,000PRNPutSOLE0193,00000
AMSURG CORPCOM03232P40520565SH SOLE056500
ANACOR PHARMACEUTICALS INCCOM0324201013,258582,835SH SOLE0582,83500
ANTHERA PHARMACEUTICALS INCCOM03674U1021,5983,451,655SH SOLE03,451,65500
ARENA PHARMACEUTICALS INCCOM0400471023,028393,200PRNPutSOLE0393,20000
ARRAY BIOPHARMA INCCOM04269X1058819,320SH SOLE019,32000
ASTEX PHARMACEUTICALS INCCOM04624B1036,7791,649,423SH SOLE01,649,42300
ATHERSYS INCCOM04744L1065,7753,479,206SH SOLE03,479,20600
BIODELIVERY SCIENCES INTL INCOM09060J1061,939477,600SH SOLE0477,60000
BIOGEN IDEC INCCOM09062X10349,772231,282SH SOLE0231,28200
BIOMED REALTY TRUST INCCOM09063H1071,01250,000SH SOLE050,00000
CIGNA CORPORATIONCOM12550910921290SH SOLE029000
CAPITAL SR LIVING CORPCOM14047510421,305891,408SH SOLE0891,40800
CELGENE CORPCOM15102010411,26096,256SH SOLE096,25600
CEMPRA INCCOM15130J1091,554200,000SH SOLE0200,00000
CHAMPIONS ONCOLOGY INC RSTDCOM15870P1091,9891,808,244SH SOLE01,808,24400
CHELSEA THERAPEUTICS INTL LTCOM16342810510,7144,658,680SH SOLE04,658,68000
CLOVIS ONCOLOGY INCCOM1894641009,433140,827SH SOLE0140,82700
COMBIMATRIX CORPORATION*W EXP 05/01/20120009T12115,000SH SOLE05,00000
CURIS INCCOM2312691014,4421,392,564SH SOLE01,392,56400
CUTERA INCCOM23210910842147,869SH SOLE047,86900
CYCLACEL PHARMACEUTICALS INCCOM NEW23254L3061,033350,000SH SOLE0350,00000
DYAX CORPCOM26746e1035,9601,722,502SH SOLE01,722,50200
ELAN PLCADR2841312086,830483,000SH SOLE0483,00000
ENDO HEALTH SOLUTIONS INCCOM29264F20519530SH SOLE053000
ENDOCYTE INCCOM29269A10290368,806SH SOLE068,80600
EPIZYME INCCOM29428V10450618,000SH SOLE018,00000
EXACT SCIENCES CORPCOM30063P10522,9451,649,558SH SOLE01,649,55800
GILEAD SCIENCES INCCOM3755581032,47648,300PRNPutSOLE048,30000
GILEAD SCIENCES INCCOM37555810340,419788,360SH SOLE0788,36000
HCA HOLDINGS INCCOM40412C10111,127308,560SH SOLE0308,56000
HANGER INCCOM NEW41043F20820630SH SOLE063000
HEALTHSOUTH CORPCOM NEW42192430920695SH SOLE069500
HEALTH MGMT ASSOC INC NEWCL A421933102201,265SH SOLE01,26500
HILL ROM HLDGS INCCOM43147510220590SH SOLE059000
IMMUNOMEDICS INCCOM4529071084,021739,144SH SOLE0739,14400
INFINITY PHARMACEUTICALS INCCOM45665G3031,813111,940SH SOLE0111,94000
INTERMUNE INCCOM45884X1032,886300,000SH SOLE0300,00000
ISHARES TRNASDQ BIO INDX46428755646,843269,400PRNPutSOLE0269,40000
KERYX BIOPHARMACEUTICALS INCCOM49251510137450,000SH SOLE050,00000
LIPOSCIENCE INCCOM53630M10857582,292SH SOLE082,29200
MGC DIAGNOSTICS CORPCOM5527681031,457174,449SH SOLE0174,44900
MAGELLAN HEALTH SVCS INCCOM NEW55907920720365SH SOLE036500
MEDASSETS INCCOM584045108201,150SH SOLE01,15000
MEDGENICS INCCOM NEW58436Q203570150,000SH SOLE0150,00000
MEDNAX INCCOM58502B10621225SH SOLE022500
MOLINA HEALTHCARE INCCOM60855R10020550SH SOLE055000
NPS PHARMACEUTICALS INCCOM62936P1038,498562,400SH SOLE0562,40000
NAVIDEA BIOPHARMACEUTICALS ICOM63937X1035320,000PRNPutSOLE020,00000
NEOSTEM INCCOM NEW6406503051,8403,315,938SH SOLE03,315,93800
NEPTUNE TECHNOLOGIES BIORESOCOM64077P10817,6025,422,920SH SOLE05,422,92000
NEUROCRINE BIOSCIENCES INCCOM64125C1094,014300,000PRNPutSOLE0300,00000
NEUROCRINE BIOSCIENCES INCCOM64125C10967,9935,081,717SH SOLE05,081,71700
OMNICARE INCCOM68190410820425SH SOLE042500
OPTIMER PHARMACEUTICALS INCCOM68401H1047,184496,500PRNPutSOLE0496,50000
PROGENICS PHARMACEUTICALS INCOM7431871061,368306,650SH SOLE0306,65000
QUEST DIAGNOSTICS INCCOM74834L10020325SH SOLE032500
QUESTCOR PHARMACEUTICALS INCCOM74835Y1012,27250,000PRNCallSOLE050,00000
QUESTCOR PHARMACEUTICALS INCCOM74835Y1011,91742,186SH SOLE042,18600
REGENERON PHARMACEUTICALSCOM75886F10731,328139,310SH SOLE0139,31000
REPROS THERAPEUTICS INCCOM NEW76028H2093,347181,430SH SOLE0181,43000
SALIX PHARMACEUTICALS INCCOM7954351069,807148,250SH SOLE0148,25000
SANTARUS INCCOM80281730413,156625,000SH SOLE0625,00000
SAREPTA THERAPEUTICS INCCOM80360710010,461275,000PRNCallSOLE0275,00000
SAREPTA THERAPEUTICS INCCOM80360710014,950393,000PRNPutSOLE0393,00000
SAREPTA THERAPEUTICS INCCOM803607100103,5212,722,088SH SOLE02,722,08800
SEATTLE GENETICS INCCOM8125781021,57350,000PRNPutSOLE050,00000
SEQUENOM INCCOM NEW8173374054,148985,180SH SOLE0985,18000
SHIRE PLCSPONSORED ADR82481R1067,68580,800SH SOLE080,80000
SPECTRANETICS CORPCOM84760C1076,310337,797SH SOLE0337,79700
STEMCELLS INCCOM NEW85857R204382231,600SH SOLE0231,60000
STEMLINE THERAPEUTICS INCCOM85858C10714,105591,650SH SOLE0591,65000
SUNESIS PHARMACEUTICALS INCCOM NEW86732860130158,010SH SOLE058,01000
SYNTA PHARMACEUTICALS CORPCOM87162T20613,4392,693,236SH SOLE02,693,23600
TEKMIRA PHARMACEUTICALS CORPCOM NEW87911B2091,244270,000SH SOLE0270,00000
TESARO INCCOM88156910730,137920,494SH SOLE0920,49400
TRANSGENOMIC INCCOM89365K2068832,207,500SH SOLE02,207,50000
UNITEDHEALTH GROUP INCCOM91324P10221315SH SOLE031500
UROPLASTY INCCOM NEW917277204619299,113SH SOLE0299,11300
VCA ANTECH INCCOM91819410120780SH SOLE078000
VERTEX PHARMACEUTICALS INCCOM92532F10020,539256,547SH SOLE0256,54700
VICAL INCCOM9256021041,252400,000PRNCallSOLE0400,00000
VIROPHARMA INCCOM9282411081,38448,300SH SOLE048,30000
WELLCARE HEALTH PLANS INCCOM94946T10621385SH SOLE038500
WELLPOINT INCCOM94973V10721255SH SOLE025500