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 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
ABBVIE INC COM 00287Y109 68,954 1,177,900 SH   SOLE   1,177,900 0 0
ADMA BIOLOGICS INC COM 000899104 9,668 986,507 SH   SOLE   986,507 0 0
AKORN INC COM 009728106 92,097 1,938,485 SH   SOLE   1,938,485 0 0
ANACOR PHARMACEUTICALS INC COM 032420101 48,024 830,151 SH   SOLE   830,151 0 0
ANI PHARMACEUTICALS INC COM 00182C103 70,348 1,124,667 SH   SOLE   1,124,667 0 0
BIOTIME INC COM 09066L105 7,965 1,602,550 SH   SOLE   1,602,550 0 0
CARDIOVASCULAR SYS INC DEL COM 141619106 85,595 2,192,500 SH   SOLE   2,192,500 0 0
CATALYST PHARM PARTNERS INC COM 14888U101 21,000 4,849,870 SH   SOLE   4,849,870 0 0
DERMA SCIENCES INC COM PAR $.01 249827502 13,828 1,632,627 SH   SOLE   1,632,627 0 0
EAGLE PHARMACEUTICALS INC COM 269796108 30,828 735,922 SH   SOLE   735,922 0 0
EHEALTH INC COM 28238P109 496 52,900 SH   SOLE   52,900 0 0
ENANTA PHARMACEUTICALS INC COM 29251M106 47,552 1,552,962 SH   SOLE   1,552,962 0 0
EPIRUS BIOPHARMACEUTICALS IN COM 29428P107 13,638 1,523,773 SH   SOLE   1,523,773 0 0
HEALTHWAYS INC COM 422245100 33,811 1,716,307 SH   SOLE   1,716,307 0 0
HYPERION THERAPEUTICS INC COM 44915N101 87,299 1,901,930 SH   SOLE   1,901,930 0 0
INSYS THERAPEUTICS INC NEW COM NEW 45824V209 79,013 1,359,247 SH   SOLE   1,359,247 0 0
MERUS LABS INTL INC NEW COM 59047R101 2,874 1,368,614 SH   SOLE   1,368,614 0 0
ORTHOFIX INTL N V COM N6748L102 56,714 1,580,218 SH   SOLE   1,580,218 0 0
OSIRIS THERAPEUTICS INC NEW COM 68827R108 21,067 1,198,336 SH   SOLE   1,198,336 0 0
PACIFIC BIOSCIENCES CALIF IN COM 69404D108 11,697 2,002,971 SH   SOLE   2,002,971 0 0
PERNIX THERAPEUTICS HLDGS IN COM 71426V108 34,865 3,261,484 SH   SOLE   3,261,484 0 0
PROTALIX BIOTHERAPEUTICS INC COM 74365A101 10,046 5,643,750 SH   SOLE   5,643,750 0 0
RETROPHIN INC COM 761299106 74,461 3,107,710 SH   SOLE   3,107,710 0 0
SUPERNUS PHARMACEUTICALS INC COM 868459108 43,124 3,566,923 SH   SOLE   3,566,923 0 0
UNITED THERAPEUTICS CORP DEL COM 91307C102 122,806 712,186 SH   SOLE   712,186 0 0
VERACYTE INC COM 92337F107 1,717 235,860 SH   SOLE   235,860 0 0
VERICEL CORP COM 92346J108 8,706 2,352,940 SH   SOLE   2,352,940 0 0