UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                  FORM 13F

                            FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: December 31, 2004

Check here if Amendment [  ]; Amendment Number:
This amendment (Check only one.): [ ] is a restatement.
                                  [ ] adds new holdings entries.

Institutional Investment Manager Filing this Report:
Name:     Accipiter Capital Management
Address:

13 File Number:

The institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person
signing the report is authorized to submit it, that all
information contained herein is true, correct, and complete, and
and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of
this form


Person Signing this Report on Behalf of Reporting Manager:

Name:
Title:
Phone:
Signature, Place and Date of Signing:

      January 31, 2005


Report Type (Check only one.):
[ X]        13F HOLDINGS REPORT.
[  ]        13F NOTICE.
[  ]        13F COMBINATION REPORT.


I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934

                           FORM 13F SUMMARY PAGE


Report Summary:

Number of Other Included Managers:         0

Form 13F Information Table Entry Total:    31

Form 13F Information Table Value Total:    152363




               
                                                                FORM 13F INFORMATION TABLE
                                                              VALUE   SHARES/ SH/ PUT/ INVSTMT   OTHER        VOTING AUTHORITY
           NAME OF ISSUER        TITLE OF CLASS     CUSIP   x($1000) PRN AMT  PRN CALL DISCRETN MANAGERS   SOLE    SHARED    NONE
  ------------------------------ ---------------- --------- -------- -------- --- ---- -------- --------- -------- -------- --------
D AETNA INC                      COMMON STOCK     00817Y108     8483    68000 SH       SOLE                  68000        0        0
D AKSYS LTD COM                  COMMON STOCK     010196103     1660   298500 SH       SOLE                 298500        0        0
D ALEXION PHARMACEUTICALS INC    COMMON STOCK     015351109     2366    93880 SH       SOLE                  93880        0        0
D ALFACELL CORP USD.00 1 COM     COMMON STOCK     015404106      679   155000 SH       SOLE                 155000        0        0
D AMEDISYS INC COM               COMMON STOCK     023436108     2173    67087 SH       SOLE                  67087        0        0
D ANTIGENICS INC COM STK         COMMON STOCK     037032109     1392   137500 SH       SOLE                 137500        0        0
D ARENA PHARMA COM STK           COMMON STOCK     040047102     6383   952700 SH       SOLE                 952700        0        0
D ARQULE INC COM                 COMMON STOCK     04269E107      447    77240 SH       SOLE                  77240        0        0
D AVANIR PHARMACEUTICALS         COMMON STOCK     05348P104     1577   462500 SH       SOLE                 462500        0        0
D BIOMARIN PHARMACEUTI CAL INC C COMMON STOCK     09061G101     5419   848026 SH       SOLE                 848026        0        0
D COMMUNITY HEALTH SYSTEMS       COMMON STOCK     203668108     4879   175000 SH       SOLE                 175000        0        0
D CORTEX PHARMACEUTICALS INC     COMMON STOCK     220524300      339   125000 SH       SOLE                 125000        0        0
D ELI LILLY & CO Com             OPTIONS - CALLS  5324570AK    55110   971100 SH  CALL SOLE                 971100        0        0
D FST HORIZON PHM COM STK        COMMON STOCK     32051K106     2288    99941 SH       SOLE                  99941        0        0
D HI-TECH PHARMACAL INC COM      COMMON STOCK     42840B101     2093   113499 SH       SOLE                 113499        0        0
D IMCLONE SYSTEMS INC COM        COMMON STOCK     45245W109     3731    80976 SH       SOLE                  80976        0        0
D IMMTECH INTERNATIONAL INC      COMMON STOCK     452519101      915    76313 SH       SOLE                  76313        0        0
D INKINE PHARMACEUTICAL CO       COMMON STOCK     457214104     8501  1565555 SH       SOLE                1565555        0        0
D INTROGEN THERA COM             COMMON STOCK     46119F107       84    10000 SH       SOLE                  10000        0        0
D MARSHALL EDWARDS               COMMON STOCK     572322303      805    90000 SH       SOLE                  90000        0        0
D MEDICIS PHARMACEUTICAL CORP    COMMON STOCK     584690309     7791   221900 SH       SOLE                 221900        0        0
D MICRO THERAPEUTICS INC NEW     COMMON STOCK     59500W100     1176   313700 SH       SOLE                 313700        0        0
D MILLENNIUM PHARMACEUTICALS INC COMMON STOCK     599902103    10536   867912 SH       SOLE                 867912        0        0
D ORCHID BIOSCIENCES INC COM     COMMON STOCK     68571P506     1243   108099 SH       SOLE                 108099        0        0
D PROTEIN DESIGN LABS INC        COMMON STOCK     74369L103     4965   240300 SH       SOLE                 240300        0        0
D REGENERATION TE COM STK        COMMON STOCK     75886N100      999    95300 SH       SOLE                  95300        0        0
D SPECIALTY LABS                 COMMON STOCK     84749R100     3229   292500 SH       SOLE                 292500        0        0
D STEM CELLS INC COM STK         COMMON STOCK     85857R105     1248   295000 SH       SOLE                 295000        0        0
D TRIAD HOSPITALS INC COM        COMMON STOCK     89579K109     4599   123600 SH       SOLE                 123600        0        0
D TRIPATH IMAGING INC COM STK    COMMON STOCK     896942109     2408   268500 SH       SOLE                 268500        0        0
D UNITED THERAPEUTICS CORP COM   COMMON STOCK     91307C102     4845   107300 SH       SOLE                 107300        0        0
S REPORT SUMMARY                 31 DATA RECORDS              152363        0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED