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
AbbVie Inc. COM 00287Y109 889,866 14,373,538 SH   SOLE   14,373,538 0 0
ACADIA Pharmaceuticals Inc. COM 004225108 795,813 24,516,738 SH   SOLE   24,516,738 0 0
Acceleron Pharma Inc. COM 00434H108 977 28,765 SH   SOLE   28,765 0 0
Achaogen, Inc. COM 004449104 379 100,000 SH   SOLE   100,000 0 0
Achillion Pharmaceuticals, Inc. COM 00448Q201 19,309 2,475,515 SH   SOLE   2,475,515 0 0
Acorda Therapeutics, Inc. COM 00484M106 93,376 3,661,082 SH   SOLE   3,661,082 0 0
Adamas Pharmaceuticals, Inc. COM 00548A106 2,614 172,630 SH   SOLE   172,630 0 0
Adaptimmune Therapeutics plc SPONSORED ADR 00653A107 815 100,000 SH   SOLE   600,000 0 0
Advanced Accelerator Applications S.A. SPONSORED ADR 00790T100 25,188 833,089 SH   SOLE   1,666,178 0 0
Aeglea BioTherapeutics, Inc. COM 00773J103 1,965 404,230 SH   SOLE   404,230 0 0
Aerie Pharmaceuticals, Inc. COM 00771V108 5,269 299,356 SH   SOLE   299,356 0 0
Affimed N.V. COM N01045108 992 400,000 SH   SOLE   400,000 0 0
Agios Pharmaceuticals, Inc. COM 00847X104 8,711 207,915 SH   SOLE   207,915 0 0
Aimmune Therapeutics, Inc. COM 00900T107 7,292 673,908 SH   SOLE   673,908 0 0
Akari Therapeutics plc SPONSORED ADR 00972G108 6,703 496,901 SH   SOLE   49,690,100 0 0
Alcobra Ltd. SHS M2239P109 10,490 2,336,359 SH   SOLE   2,336,359 0 0
Alder BioPharmaceuticals, Inc. COM 014339105 5,427 217,328 SH   SOLE   217,328 0 0
Aldeyra Therapeutics, Inc. COM 01438T106 808 142,000 SH   SOLE   142,000 0 0
Alexion Pharmaceuticals, Inc. COM 015351109 763,995 6,543,295 SH   SOLE   6,543,295 0 0
Alkermes plc SHS G01767105 10,816 250,251 SH   SOLE   250,251 0 0
Alnylam Pharmaceuticals, Inc. COM 02043Q107 629 11,340 SH   SOLE   11,340 0 0
Amarin Corporation plc SPONSORED ADR NEW 023111206 1,732 801,860 SH   SOLE   801,860 0 0
Aquinox Pharmaceuticals, Inc. COM 03842B101 51,321 7,752,487 SH   SOLE   7,752,487 0 0
Arbutus Biopharma Corporation COM 03879J100 628 180,582 SH   SOLE   180,582 0 0
Array BioPharma Inc. COM 04269X105 15,346 4,310,666 SH   SOLE   4,310,666 0 0
Arrowhead Pharmaceuticals, Inc. COM 04280A100 5,371 1,009,509 SH   SOLE   1,009,509 0 0
Ascendis Pharma A/S SPONSORED ADR 04351P101 9,893 745,521 SH   SOLE   745,521 0 0
Assembly Biosciences, Inc. COM 045396108 1,388 250,000 SH   SOLE   250,000 0 0
Aurinia Pharmaceuticals Inc. COM 05156V102 2,120 711,499 SH   SOLE   711,499 0 0
BeiGene, Ltd. SPONSORED ADR 07725L102 56,998 1,912,680 SH   SOLE   24,864,840 0 0
Bellicum Pharmaceuticals, Inc. COM 079481107 63,059 4,865,647 SH   SOLE   4,865,647 0 0
BioCryst Pharmaceuticals, Inc. COM 09058V103 42,630 15,010,534 SH   SOLE   15,010,534 0 0
BioDelivery Sciences International, Inc. COM 09060J106 496 210,021 SH   SOLE   210,021 0 0
BioMarin Pharmaceutical Inc. COM 09061G101 373,944 4,806,483 SH   SOLE   4,806,483 0 0
BioTime, Inc. *W EXP 10/1/201 09066L162 9 20,084 SH   SOLE   20,084 0 0
bluebird bio, Inc. COM 09609G100 12,725 293,943 SH   SOLE   293,943 0 0
Catalyst Pharmaceuticals, Inc. COM 14888U101 3,637 5,122,153 SH   SOLE   5,122,153 0 0
Cellectis S.A. SPONSORED ADS 15117K103 1,330 50,000 SH   SOLE   50,000 0 0
Cerus Corporation COM 157085101 84,572 13,553,275 SH   SOLE   13,553,275 0 0
ChemoCentryx, Inc. COM 16383L106 220 49,064 SH   SOLE   49,064 0 0
Chimerix, Inc. COM 16934W106 453 115,216 SH   SOLE   115,216 0 0
Concert Pharmaceuticals, Inc. COM 206022105 5,279 470,058 SH   SOLE   470,058 0 0
Curis, Inc. COM 231269101 3,119 1,999,303 SH   SOLE   1,999,303 0 0
Cyclacel Pharmaceuticals, Inc. PFD CONV EX 6% 23254L207 83 13,253 SH   SOLE   13,253 0 0
CytRx Corporation COM PAR $.001 232828509 1,472 659,995 SH   SOLE   659,995 0 0
DBV Technologies S.A. SPONSORED ADR 23306J101 179,722 5,509,560 SH   SOLE   2,754,780 0 0
Derma Sciences, Inc. COM PAR $.01 249827502 14,784 3,752,390 SH   SOLE   3,752,390 0 0
Dermira, Inc. COM 24983L104 9,548 326,428 SH   SOLE   326,428 0 0
Dimension Therapeutics, Inc. COM 25433V105 7,511 1,251,881 SH   SOLE   1,251,881 0 0
Dynavax Technologies Corporation COM NEW 268158201 1,094 75,000 SH   SOLE   75,000 0 0
Enanta Pharmaceuticals, Inc. COM 29251M106 1,662 75,357 SH   SOLE   75,357 0 0
Endocyte, Inc. COM 29269A102 3,629 1,130,577 SH   SOLE   1,130,577 0 0
Epizyme, Inc. COM 29428V104 2,381 232,481 SH   SOLE   232,481 0 0
Exelixis, Inc. COM 30161Q104 20,150 2,580,000 SH   SOLE   2,580,000 0 0
Five Prime Therapeutics, Inc. COM 33830X104 796 19,247 SH   SOLE   19,247 0 0
Foamix Pharmaceuticals Ltd. SHS M46135105 14,235 2,241,702 SH   SOLE   2,241,702 0 0
Foundation Medicine, Inc. COM 350465100 390 20,892 SH   SOLE   20,892 0 0
Galapagos NV SPONSORED ADR 36315X101 14,416 259,894 SH   SOLE   259,894 0 0
Genomic Health, Inc. COM 37244C101 353,955 13,668,866 SH   SOLE   13,668,866 0 0
GlycoMimetics, Inc. COM 38000Q102 2,772 381,235 SH   SOLE   381,235 0 0
GW Pharmaceuticals plc ADS 36197T103 1,374 15,000 SH   SOLE   180,000 0 0
Halozyme Therapeutics, Inc. COM 40637H109 15,862 1,838,057 SH   SOLE   1,838,057 0 0
Heron Therapeutics, Inc. COM 427746102 51,573 2,857,250 SH   SOLE   2,857,250 0 0
Idera Pharmaceuticals, Inc. COM NEW 45168K306 10,711 7,000,977 SH   SOLE   7,000,977 0 0
Ignyta, Inc. COM 451731103 3,095 571,000 SH   SOLE   571,000 0 0
Immune Design Corp. COM 45252L103 1,215 148,937 SH   SOLE   148,937 0 0
ImmunoGen, Inc. COM 45253H101 9,287 3,015,353 SH   SOLE   3,015,353 0 0
Incyte Corporation COM 45337C102 1,879,426 23,498,697 SH   SOLE   23,498,697 0 0
Insmed Incorporated COM PAR $.01 457669307 14,790 1,500,000 SH   SOLE   1,500,000 0 0
Intellia Therapeutics, Inc. COM 45826J105 22,676 1,062,120 SH   SOLE   1,062,120 0 0
Intra-Cellular Therapies, Inc. COM 46116X101 23,648 609,166 SH   SOLE   609,166 0 0
Invitae Corporation COM 46185L103 48,441 6,554,967 SH   SOLE   6,554,967 0 0
InVivo Therapeutics Holdings Corp. COM NEW 46186M209 2,312 400,000 SH   SOLE   400,000 0 0
Ionis Pharmaceuticals, Inc. COM 462222100 1,331 57,140 SH   SOLE   57,140 0 0
Juno Therapeutics, Inc. COM 48205A109 3,075 80,000 SH   SOLE   80,000 0 0
Karyopharm Therapeutics Inc. COM 48576U106 1,456 216,990 SH   SOLE   216,990 0 0
La Jolla Pharmaceutical Company COM PAR $.0001 2 503459604 220 13,746 SH   SOLE   13,746 0 0
Ligand Pharmaceuticals Incorporated COM NEW 53220K504 8,753 73,386 SH   SOLE   73,386 0 0
Loxo Oncology, Inc. COM 548862101 3,193 137,735 SH   SOLE   137,735 0 0
MacroGenics, Inc. COM 556099109 9,816 363,676 SH   SOLE   363,676 0 0
Mast Therapeutics, Inc. COM 576314108 1,818 3,868,026 SH   SOLE   3,868,026 0 0
Medgenics, Inc. COM NEW 58436Q203 4,887 880,539 SH   SOLE   880,539 0 0
Medivation, Inc. COM 58501N101 19,892 329,876 SH   SOLE   329,876 0 0
MediWound Ltd. ORD SHS M68830104 1,783 226,000 SH   SOLE   226,000 0 0
Merus N.V. COM N5749R100 8,972 1,122,859 SH   SOLE   1,122,859 0 0
Minerva Neurosciences, Inc. COM 603380106 5,191 508,405 SH   SOLE   508,405 0 0
Mirati Therapeutics, Inc. COM 60468T105 12,390 2,269,198 SH   SOLE   2,269,198 0 0
Nabriva Therapeutics AG SPONSORED ADR 62957M104 2,625 350,000 SH   SOLE   35,000 0 0
Natera, Inc. COM 632307104 5,429 450,000 SH   SOLE   450,000 0 0
Neurocrine Biosciences, Inc. COM 64125C109 40,697 895,422 SH   SOLE   895,422 0 0
NeuroDerm Ltd. ORD SHS M74231107 4,956 305,000 SH   SOLE   305,000 0 0
Novavax, Inc. COM 670002104 17,297 2,379,254 SH   SOLE   2,379,254 0 0
Ophthotech Corporation COM 683745103 1,819 35,649 SH   SOLE   35,649 0 0
Osiris Therapeutics, Inc. COM 68827R108 2,541 499,193 SH   SOLE   499,193 0 0
Palatin Technologies, Inc. COM PAR $.01 696077403 905 2,050,000 SH   SOLE   2,050,000 0 0
Progenics Pharmaceuticals, Inc. COM 743187106 16,754 3,970,250 SH   SOLE   3,970,250 0 0
ProNAi Therapeutics, Inc. COM 74346L101 398 200,000 SH   SOLE   200,000 0 0
ProQR Therapeutics N.V. SHS EURO N71542109 5,973 1,234,095 SH   SOLE   1,234,095 0 0
Proteon Therapeutics, Inc. COM 74371L109 2,398 298,591 SH   SOLE   298,591 0 0
Ritter Pharmaceuticals, Inc. COM 767836109 612 400,000 SH   SOLE   400,000 0 0
Sage Therapeutics, Inc. COM 78667J108 6,751 224,048 SH   SOLE   224,048 0 0
Sangamo BioSciences, Inc. COM 800677106 23,484 4,055,876 SH   SOLE   4,055,876 0 0
SCYNEXIS, Inc. COM 811292101 1,015 467,600 SH   SOLE   467,600 0 0
Seattle Genetics, Inc. COM 812578102 1,747,287 43,238,967 SH   SOLE   43,238,967 0 0
Selecta Biosciences, Inc. COM 816212104 2,504 178,950 SH   SOLE   178,950 0 0
Seres Therapeutics, Inc. COM 81750R102 3,631 125,000 SH   SOLE   125,000 0 0
Spark Therapeutics, Inc. COM 84652J103 67,407 1,318,341 SH   SOLE   1,318,341 0 0
Stemline Therapeutics, Inc. COM 85858C107 2,258 333,497 SH   SOLE   333,497 0 0
Sunesis Pharmaceuticals, Inc. COM NEW 867328601 2,437 4,450,000 SH   SOLE   4,450,000 0 0
Synta Pharmaceuticals Corp. COM 87162T206 526 2,021,728 SH   SOLE   2,021,728 0 0
Syros Pharmaceuticals, Inc. COM 87184Q107 3,711 204,465 SH   SOLE   204,465 0 0
Tenax Therapeutics, Inc. COM 88032L100 1,075 420,000 SH   SOLE   420,000 0 0
TG Therapeutics, Inc. COM 88322Q108 12,144 2,003,991 SH   SOLE   2,003,991 0 0
Trevena, Inc. COM 89532E109 2,835 450,000 SH   SOLE   450,000 0 0
Trillium Therapeutics Inc. COM NEW 89620X506 1,902 211,792 SH   SOLE   211,792 0 0
Ultragenyx Pharmaceutical Inc. COM 90400D108 5,424 110,894 SH   SOLE   110,894 0 0
uniQure N.V. SHS N90064101 1,695 230,000 SH   SOLE   230,000 0 0
Versartis, Inc. COM 92529L102 30,121 2,723,399 SH   SOLE   2,723,399 0 0
Vitae Pharmaceuticals, Inc. COM 92847N103 6,880 637,597 SH   SOLE   637,597 0 0
Windtree Therapeutics, Inc. COM PAR 97382D105 492 254,973 SH   SOLE   254,973 0 0
Xencor, Inc. COM 98401F105 16,561 872,072 SH   SOLE   872,072 0 0
XenoPort, Inc. COM 98411C100 24,469 3,475,672 SH   SOLE   3,475,672 0 0
Zogenix, Inc. COM NEW 98978L204 8,050 1,000,000 SH   SOLE   1,000,000 0 0
Acorda Therapeutics, Inc. Notes 1.75% 6/15/2021 NOTE 1.75% 6/15/2021 00484MAA4 67,351 77,083,000 PRN   SOLE   77,083,000 0 0
Aegerion Pharmaceuticals, Inc. Notes 2.0% 8/15/2019 NOTE 2.0% 8/15/2019 00767EAB8 14,840 26,517,000 PRN   SOLE   26,517,000 0 0
Array BioPharma Inc. Notes 3.0% 6/1/2020 NOTE 3.0% 6/1/2020 04269XAA3 2,544 3,000,000 PRN   SOLE   3,000,000 0 0
BioMarin Pharmaceutical Inc. Notes 1.875% 4/23/2017 NOTE 1.875% 4/23/2017 09061GAD3 84,908 22,379,000 PRN   SOLE   22,379,000 0 0
BioMarin Pharmaceutical Inc. Notes 0.75% 10/15/2018 NOTE 0.75% 10/15/2018 09061GAE1 13,573 12,228,000 PRN   SOLE   12,228,000 0 0
Clovis Oncology, Inc. 2.5% 9/15/2021 NOTE 2.5% 9/15/2021 189464AB6 51,310 72,758,000 PRN   SOLE   72,758,000 0 0
Corsicanto Ltd. 3.5% 1/15/2032 NOTE 3.5% 1/15/2032 220480AB3 15,285 15,000,000 PRN   SOLE   15,000,000 0 0
Exelixis, Inc. Notes 4.25% 8/15/2019 NOTE 4.25% 8/15/2019 30161QAC8 29,654 20,000,000 PRN   SOLE   20,000,000 0 0
Incyte Corporation Notes 0.375% 11/15/2018 144A NOTE 0.375% 11/15/2018 45337CAK8 431,835 259,000,000 PRN   SOLE   259,000,000 0 0
Incyte Corporation Notes 1.25% 11/15/2020 144A NOTE 1.25% 11/15/2020 45337CAL6 467,293 274,500,000 PRN   SOLE   274,500,000 0 0
Protalix BioTherapeutics, Inc. Notes 4.5% 9/15/18 NOTE 4.5% 9/15/2018 74365AAB7 2,300 3,423,000 PRN   SOLE   3,423,000 0 0
XenoPort, Inc. Notes 2.5% 2/1/2022 NOTE 2.5% 2/1/2022 98411CAB6 98,471 100,000,000 PRN   SOLE   100,000,000 0 0