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
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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
AbbVie Inc COM 00287Y109 3,643 61,500 SH   SOLE 0 61,500 0 0
Advanced Accelerator Applic SPONSORED ADS 00790T100 235 7,500 SH   SOLE 0 7,500 0 0
Advaxis Inc COM NEW 007624208 556 55,264 SH   SOLE 0 55,264 0 0
Aerie Pharmaceuticals Inc COM 00771V108 688 28,240 SH   SOLE 0 28,240 0 0
Alder Biopharmaceuticals Inc COM 014339105 1,982 60,000 SH   SOLE 0 60,000 0 0
Allergan PLC SHS G0177J108 2,875 9,200 SH   SOLE 0 9,200 0 0
Bristol Myers Squibb Co COM 110122108 10,043 146,000 SH   SOLE 0 146,000 0 0
Celator Pharmaceuticals Inc COM 15089R102 158 90,000 SH   SOLE 0 90,000 0 0
Celgene Corp COM 151020104 9,581 80,000 SH   SOLE 0 80,000 0 0
Cerulean Pharma Inc COM 15708Q105 140 50,000 SH   SOLE 0 50,000 0 0
Concert Pharmaceuticals Inc COM 206022105 3,472 183,000 SH   SOLE 0 183,000 0 0
CTI BioPharma Corp COM 12648L106 807 656,000 SH   SOLE 0 656,000 0 0
Durect Corp COM 266605104 622 281,514 SH   SOLE 0 281,514 0 0
Fibrocell Science Inc COM NEW 315721209 137 30,000 SH   SOLE 0 30,000 0 0
Five Prime Therapeutics Inc COM 33830X104 892 21,500 SH   SOLE 0 21,500 0 0
GenVec Inc COM NEW 37246C307 35 19,097 SH   SOLE 0 19,097 0 0
GW Pharmaceuticals PLC ADS 36197T103 347 5,000 SH   SOLE 0 5,000 0 0
Heron Therapeutics Inc COM 427746102 630 23,600 SH   SOLE 0 23,600 0 0
Horizon Pharma PLC SHS G4617B105 3,120 144,000 SH   SOLE 0 144,000 0 0
Immune Design Corp COM 45252L103 803 40,000 SH   SOLE 0 40,000 0 0
Inotek Pharmaceuticals Corp COM 45780V102 476 42,000 SH   SOLE 0 42,000 0 0
Inovio Pharmaceuticals Inc COM NEW 45773H201 403 60,000 SH   SOLE 0 60,000 0 0
Kamada Ltd SHS M6240T109 302 72,000 SH   SOLE 0 72,000 0 0
Lion Biotechnologies Inc COM 53619R102 1,175 152,266 SH   SOLE 0 152,266 0 0
Marinus Pharmaceuticals Inc COM 56854Q101 191 25,000 SH   SOLE 0 25,000 0 0
Merck & Co Inc New COM 58933Y105 5,493 104,000 SH   SOLE 0 104,000 0 0
Merrimack Pharmaceuticals In COM 590328100 284 36,000 SH   SOLE 0 36,000 0 0
Minerva Neurosciences Inc COM 603380106 207 34,100 SH   SOLE 0 34,100 0 0
Neos Therapeutics Inc COM 64052L106 215 15,000 SH   SOLE 0 15,000 0 0
Neurocrine Biosciences Inc COM 64125C109 1,527 27,000 SH   SOLE 0 27,000 0 0
Neuroderm Ltd ORD SHS M74231107 818 48,000 SH   SOLE 0 48,000 0 0
Oncothyreon Inc COM 682324108 444 200,000 SH   SOLE 0 200,000 0 0
Peregrine Pharmaceuticals In COM NEW 713661304 287 245,000 SH   SOLE 0 245,000 0 0
Pfizer Inc COM 717081103 10,652 330,000 SH   SOLE 0 330,000 0 0
Pronai Therapeutics Inc COM 74346L101 301 20,000 SH   SOLE 0 20,000 0 0
Redhill Biopharma Ltd SPONSORED ADS 757468103 309 24,000 SH   SOLE 0 24,000 0 0
SciClone Pharmaceuticals Inc COM 80862K104 598 65,000 SH   SOLE 0 65,000 0 0
SCYNEXIS Inc COM 811292101 246 39,693 SH   SOLE 0 39,693 0 0
Seattle Genetics Inc COM 812578102 4,039 90,000 SH   SOLE 0 90,000 0 0
TetraLogic Pharmaceuticals C COM 88165U109 111 64,000 SH   SOLE 0 64,000 0 0
Tobira Therapeutics Inc COM 88883P101 352 35,000 SH   SOLE 0 35,000 0 0
uniQure NV SHS N90064101 595 36,000 SH   SOLE 0 36,000 0 0
Vascular Biogenics Ltd COM M96883109 175 33,332 SH   SOLE 0 33,332 0 0
Vitae Pharmaceuticals Inc COM 92847N103 375 20,720 SH   SOLE 0 20,720 0 0
Zynerba Pharmaceuticals Inc COM 98986X109 151 15,000 SH   SOLE 0 15,000 0 0