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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 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
BIOMARIN PHARMACEUTICAL INC COM 09061G101 22,718 182,300 SH   SOLE   182,300 0 0
HERON THERAPEUTICS INC COM 427746102 66,876 4,596,318 SH   SOLE   4,596,318 0 0
HERON THERAPEUTICS INC COM 427746102 4,704 323,307 SH   OTR 1 0 323,307 0
LA JOLLA PHARMACEUTICAL CO COM 503459604 38,458 2,101,547 SH   SOLE   2,101,547 0 0
LA JOLLA PHARMACEUTICAL CO COM 503459604 784 42,840 SH   OTR 1 0 42,840 0
MERRIMACK PHARMACEUTICALS INC NOTE 4.5% 7/15/20 590328AA8 11,154 5,500,000 PRN   SOLE   5,500,000 0 0
MIRATI THERAPEUTICS INC COM 60468T105 11,392 388,543 SH   SOLE   388,543 0 0
ONCOGENEX PHARMACEUTICALS INC COM 68230A106 1,351 628,400 SH   SOLE   628,400 0 0
OPKO HEALTH INC DEBT 3.0% 2/1/33 68375NAB9 29,439 14,000,000 PRN   SOLE   14,000,000 0 0
RXI PHARMACEUTICALS CORP COM 74979C303 1,132 1,572,699 SH   SOLE   1,572,699 0 0