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
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
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
ACADIA PHARMACEUTICALS INC Common 004225108 19,243 581,900 SH   SOLE   581,900 0 0
AEGERION PHARMACEUTICALS INC Common 00767E102 10,966 806,300 SH   SOLE   806,300 0 0
AGENUS - INC Common 00847G705 10,116 2,199,137 SH   SOLE   2,199,137 0 0
ALLIQUA BIOMEDICAL INC Common 019621200 2,695 850,000 SH   SOLE   850,000 0 0
AMICUS THERAPEUTICS INC Common 03152W109 59,460 4,250,199 SH   SOLE   4,250,199 0 0
AXOVANT SCIENCES LTD. Common G0750W104 5,252 406,470 SH   SOLE   406,470 0 0
CATALYST BIOSCIENCES INC. Common 14888D109 391 83,901 SH   SOLE   83,901 0 0
CELLECTIS - ADR Sponsored ADS 15117K103 923 35,000 SH   SOLE   35,000 0 0
DERMIRA INC Common 24983L104 8,478 363,250 SH   SOLE   363,250 0 0
EGALET CORPORATION. Common 28226B104 5,807 440,606 SH   SOLE   440,606 0 0
FORTRESS BIOTECH INC. Common 34960Q109 3,316 1,275,521 SH   SOLE   1,275,521 0 0
HEAT BIOLOGICS INC Common 42237K102 1,576 341,064 SH   SOLE   341,064 0 0
HERON THERAPEUTICS INC Common 427746102 128 300,000 SH Call SOLE   300,000 0 0
HERON THERAPEUTICS INC Common 427746102 25 200,000 SH Call SOLE   200,000 0 0
IGI LABORATORIES INC Common 449575109 11,640 1,779,782 SH   SOLE   1,779,782 0 0
INNOCOLL AG Sponsored ADR 45780Q103 6,290 502,422 SH   SOLE   502,422 0 0
ISHARES RUSSELL 2000 ETF Put 464287655 4,979 1,280,000 SH Put SOLE   1,280,000 0 0
KITE PHARMA INC. Common 49803L109 86 18,500 SH Put SOLE   18,500 0 0
KITE PHARMA INC. Common 49803L109 27 7,500 SH Put SOLE   7,500 0 0
LA JOLLA PHARMACEUTICAL CO. Common 503459604 22,351 804,299 SH   SOLE   804,299 0 0
LION BIOTECHNOLOGIES INC Common 53619R102 18,322 3,180,913 SH   SOLE   3,180,913 0 0
MIRATI THERAPEUTICS INC. Common 60468T105 50,014 1,453,055 SH   SOLE   1,453,055 0 0
NANTKWEST- INC Common 63016Q102 7,301 728,887 SH   SOLE   728,887 0 0
NEURODERM LTD. Common M74231107 22,801 1,103,093 SH   SOLE   1,103,093 0 0
ONCOTHYREON INC Common 682324108 15,088 5,506,618 SH   SOLE   5,506,618 0 0
PERNIX THERAPEUTICS HOLDINGS Common 71426V108 18,974 6,004,564 SH   SOLE   6,004,564 0 0
SAREPTA THERAPEUTICS -INC Common 803607100 15,060 469,025 SH   SOLE   469,025 0 0
SAREPTA THERAPEUTICS -INC Common 803607100 1,179 170,800 SH Call SOLE   170,800 0 0
SAREPTA THERAPEUTICS -INC Common 803607100 58 7,500 SH Call SOLE   7,500 0 0
SORRENTO THERAPEUTICS INC Common 83587F202 18,051 2,151,437 SH   SOLE   2,151,437 0 0
SPECTRUM PHARMACEUTICALS INC Common 84763A108 7,867 1,315,600 SH   SOLE   1,315,600 0 0
TONIX PHARMACEUTICALS HLDG Common 890260201 2,170 410,300 SH   SOLE   410,300 0 0
TRILLIUM THERAPEUTICS INC Common 89620X506 3,351 255,097 SH   SOLE   255,097 0 0
VANDA PHARMACEUTICALS INC Common 921659108 23,965 2,124,593 SH   SOLE   2,124,593 0 0
VERACYTE INC Common 92337F107 3,622 772,297 SH   SOLE   772,297 0 0
VERICEL CORP. Common 92346J108 3,076 1,135,120 SH   SOLE   1,135,120 0 0