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 PLCSHSG2554F11312,873211,245SH SOLE 211,24500
ACADIA PHARMACEUTICALS INCCOM00422510816,774610,615SH SOLE 610,61500
ACASTI PHARMA INCCL A SHS00430K105366154,386SH SOLE 154,38600
ACELRX PHARMACEUTICALS INCCOM00444T10063,1545,858,400SH SOLE 5,858,40000
AEGERION PHARMACEUTICALS INCCOM00767e102199,6552,328,341SH SOLE 2,328,34100
AETNA INC NEWCOM00817Y1081332,070SH SOLE 2,07000
ALERE INCCOM01449J1051354,430SH SOLE 4,43000
AMARIN CORP PLCSPONS ADR NEW0231112065,489868,500SHPutSOLE 868,50000
AMARIN CORP PLCSPONS ADR NEW023111206915144,800SHCallSOLE 144,80000
AMGEN INCCOM03116210010,26191,675SH SOLE 91,67500
AMSURG CORPCOM03232P4051363,415SH SOLE 3,41500
ANACOR PHARMACEUTICALS INCCOM03242010110,342973,868SH SOLE 973,86800
ANIKA THERAPEUTICS INCCOM0352551083,442144,067SH SOLE 144,06700
ANTHERA PHARMACEUTICALS INCCOM NEW03674U2011,734431,456SH SOLE 431,45600
ARENA PHARMACEUTICALS INCCOM04004710213,4812,558,100SHPutSOLE 2,558,10000
ARRAY BIOPHARMA INCCOM04269X1053,563572,870SH SOLE 572,87000
ASTEX PHARMACEUTICALS INCCOM04624B10340047,098SH SOLE 47,09800
ASTRAZENECA PLCSPONSORED ADR0463531081402,700SH SOLE 2,70000
ATHERSYS INCCOM04744L1063,5262,150,117SH SOLE 2,150,11700
AVANIR PHARMACEUTICALS INCCL A NEW05348P401816193,000SHPutSOLE 193,00000
AXOGEN INCCOM05463X106204,500SH SOLE 4,50000
BIOCRYST PHARMACEUTICALSCOM09058V1031,387190,588SH SOLE 190,58800
CIGNA CORPORATIONCOM12550910917,128222,848SH SOLE 222,84800
CVS CAREMARK CORPORATIONCOM1266501001312,300SH SOLE 2,30000
CAPITAL SR LIVING CORPCOM14047510412,988614,089SH SOLE 614,08900
CELL THERAPEUTICS INCCOM NPV NEW 201215093488311,3386,994,673SH SOLE 6,994,67300
CELGENE CORPCOM15102010456,201364,619SH SOLE 364,61900
CELLDEX THERAPEUTICS INC NEWCOM15117B1031,71148,300SHCallSOLE 48,30000
CENTENE CORP DELCOM15135B1011512,355SH SOLE 2,35500
CHELSEA THERAPEUTICS INTL LTCOM16342810510,2203,418,365SH SOLE 3,418,36500
CHAMPIONS ONCOLOGY INC RSTDCOM15870p1092,7261,558,244SH SOLE 1,558,24400
CLOVIS ONCOLOGY INCCOM18946410011,838194,701SH SOLE 194,70100
COMBIMATRIX CORPORATION*W EXP 05/01/20120009T12125,000SH SOLE 5,00000
COMMUNITY HEALTH SYS INC NEWCOM2036681081423,415SH SOLE 3,41500
CORONADO BIOSCIENCES INCCOM21976U1093,519501,900SHPutSOLE 501,90000
CUTERA INCCOM23210910811012,400SH SOLE 12,40000
DAVITA HEALTHCARE PARTNERS ICOM23918K1081312,310SH SOLE 2,31000
DEXCOM INCCOM2521311072,04772,550SH SOLE 72,55000
DYAX CORPCOM26746e10311,6131,692,912SH SOLE 1,692,91200
ENDOCYTE INCCOM29269A1022,573193,000SHPutSOLE 193,00000
ENDOCYTE INCCOM29269A1025,581418,715SH SOLE 418,71500
EXACT SCIENCES CORPCOM30063P10520,6301,748,314SH SOLE 1,748,31400
FURIEX PHARMACEUTICALS INCCOM36106P1012205,000SH SOLE 5,00000
GILEAD SCIENCES INCCOM37555810354,324864,070SH SOLE 864,07000
HANGER INCCOM NEW41043F2081384,080SH SOLE 4,08000
HEALTHSOUTH CORPCOM NEW4219243091444,190SH SOLE 4,19000
HEALTH NET INCCOM42222G10814,385453,780SH SOLE 453,78000
HEARTWARE INTL INCCOM4223681003665,000SH SOLE 5,00000
IMMUNOMEDICS INCCOM4529071084,573737,505SH SOLE 737,50500
INFINITY PHARMACEUTICALS INCCOM45665G3033,402195,155SH SOLE 195,15500
INTERMUNE INCCOM45884X1034,614300,000SH SOLE 300,00000
ISHARESNASDQ BIOTEC ETF46428755630,350144,800SHPutSOLE 144,80000
ISHARESRUSSELL 2000 ETF46428765510,28896,500SHPutSOLE 96,50000
ISIS PHARMACEUTICALS INCCOM4643301097,238192,800SH SOLE 192,80000
KERYX BIOPHARMACEUTICALS INCCOM4925151012,018200,000SH SOLE 200,00000
KYTHERA BIOPHARMACEUTICALS ICOM5015701051262,765SH SOLE 2,76500
LIFEPOINT HOSPITALS INCCOM53219L1091402,995SH SOLE 2,99500
MGC DIAGNOSTICS CORPCOM5527681031,910174,449SH SOLE 174,44900
MAGELLAN HEALTH SVCS INCCOM NEW5590792071372,290SH SOLE 2,29000
MANNKIND CORPCOM56400P2011,650289,500SH SOLE 289,50000
MAZOR ROBOTICS LTDSPONSORED ADS57886P1032,993177,078SH SOLE 177,07800
MEDGENICS INCCOM NEW58436Q2031,170150,000SH SOLE 150,00000
MEDIVATION INCCOM58501N1012,89248,250SH SOLE 48,25000
MEDNAX INCCOM58502B1061381,375SH SOLE 1,37500
MOLINA HEALTHCARE INCCOM60855R1001283,590SH SOLE 3,59000
MYLAN INCCOM62853010717,570460,305SH SOLE 460,30500
MYRIAD GENETICS INCCOM62855J1041,37058,300SHCallSOLE 58,30000
NPS PHARMACEUTICALS INCCOM62936P1039,726305,762SH SOLE 305,76200
NANOSPHERE INCCOM63009F105679339,500SH SOLE 339,50000
NAVIDEA BIOPHARMACEUTICALS ICOM63937X103309116,500SHPutSOLE 116,50000
NEOSTEM INCCOM PAR $.0016406504042,835331,593SH SOLE 331,59300
NEPTUNE TECHNOLOGIES BIORESOCOM64077P10817,1205,383,857SH SOLE 5,383,85700
NEUROCRINE BIOSCIENCES INCCOM64125C1093,277289,500SHPutSOLE 289,50000
NEUROCRINE BIOSCIENCES INCCOM64125C10948,3444,270,704SH SOLE 4,270,70400
OMNICARE INCCOM6819041081402,525SH SOLE 2,52500
ONCOTHYREON INCCOM682324108994482,500SH SOLE 482,50000
ONYX PHARMACEUTICALS INCCOM68339910969,451556,944SH SOLE 556,94400
PACIRA PHARMACEUTICALS INCCOM69512710013,078272,034SH SOLE 272,03400
PROGENICS PHARMACEUTICALS INCOM743187106849169,068SH SOLE 169,06800
PSIVIDA CORPCOM74440J1013,173772,000SH SOLE 772,00000
QUESTCOR PHARMACEUTICALS INCCOM74835Y10121,828376,350SH SOLE 376,35000
REPLIGEN CORPCOM75991610975768,300SHPutSOLE 68,30000
REPROS THERAPEUTICS INCCOM NEW76028H2095,172193,000SHCallSOLE 193,00000
REPROS THERAPEUTICS INCCOM NEW76028H20939,7101,481,733SH SOLE 1,481,73300
SANGAMO BIOSCIENCES INCCOM80067710610,123965,000SH SOLE 965,00000
SANTARUS INCCOM80281730412,023532,243SH SOLE 532,24300
SAREPTA THERAPEUTICS INCCOM803607100130,8972,772,069SH SOLE 2,772,06900
SPECTRANETICS CORPCOM84760C1072,589154,079SH SOLE 154,07900
STEMCELLS INCCOM NEW85857R204389231,600SH SOLE 231,60000
STEMLINE THERAPEUTICS INCCOM85858C1074,08690,208SH SOLE 90,20800
SYNTA PHARMACEUTICALS CORPCOM87162T20615,0262,381,236SH SOLE 2,381,23600
TEKMIRA PHARMACEUTICALS CORPCOM NEW87911B2091,112159,309SH SOLE 159,30900
TESARO INCCOM88156910758,6391,513,644SH SOLE 1,513,64400
TRANSGENOMIC INCCOM89365k2068382,207,500SH SOLE 2,207,50000
UROPLASTY INCCOM NEW9172772041,006303,989SH SOLE 303,98900
VCA ANTECH INCCOM9181941011294,715SH SOLE 4,71500
VANDA PHARMACEUTICALS INCCOM9216591081,05796,500SHPutSOLE 96,50000
VANDA PHARMACEUTICALS INCCOM9216591085,284482,600SHCallSOLE 482,60000
VANDA PHARMACEUTICALS INCCOM9216591089,510868,500SH SOLE 868,50000
VERASTEM INCCOM92337C1043,001241,065SH SOLE 241,06500
VERTEX PHARMACEUTICALS INCCOM92532F10034,277452,095SH SOLE 452,09500
VICAL INCCOM925602104500400,000SHCallSOLE 400,00000
VIVUS INCCOM9285511002,692289,500SHPutSOLE 289,50000
WALGREEN COCOM93142210910,107187,870SH SOLE 187,87000
WELLCARE HEALTH PLANS INCCOM94946T1069,211132,081SH SOLE 132,08100
XENOPORT INCCOM98411C10027448,250SH SOLE 48,25000
ZELTIQ AESTHETICS INCCOM98933Q10812413,703SH SOLE 13,70300