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 851,488 14,373,538 SH   SOLE   14,373,538 0 0
ACADIA Pharmaceuticals Inc. COM 004225108 730,163 20,481,442 SH   SOLE   20,481,442 0 0
Acceleron Pharma, Inc. COM 00434H108 1,403 28,765 SH   SOLE   28,765 0 0
Achaogen, Inc. COM 004449104 574 100,000 SH   SOLE   100,000 0 0
Achillion Pharmaceuticals, Inc. COM 00448Q201 21,580 2,000,000 SH   SOLE   2,000,000 0 0
Acorda Therapeutics, Inc. COM 00484M106 153,157 3,580,112 SH   SOLE   3,580,112 0 0
Adaptimmune Therapeutics plc SPONDS ADR 00653A107 1,206 100,000 SH   SOLE   100,000 0 0
Advanced Accelerator Applications SA SPONSORED ADS 00790T100 17,744 567,454 SH   SOLE   1,134,908 0 0
Aerie Pharmaceuticals, Inc. COM 00771V108 7,289 299,356 SH   SOLE   299,356 0 0
Affimed N.V. COM N01045108 2,848 400,000 SH   SOLE   400,000 0 0
Agios Pharmaceuticals, Inc. COM 00847X104 6,492 100,000 SH   SOLE   100,000 0 0
Aimmune Therapeutics, Inc. COM 00900T107 4,613 250,000 SH   SOLE   250,000 0 0
Akari Therapeutics PLC SPONSORED ADR 00972G108 5,740 395,882 SH   SOLE   395,882 0 0
Alcobra Ltd. SHS M2239P109 14,672 2,336,359 SH   SOLE   2,336,359 0 0
Aldeyra Therapeutics, Inc. COM 01438T106 963 142,000 SH   SOLE   142,000 0 0
Alexion Pharmaceuticals, Inc. COM 015351109 1,248,001 6,542,599 SH   SOLE   6,542,599 0 0
Alkermes PLC SHS G01767105 19,865 250,251 SH   SOLE   250,251 0 0
Alnylam Pharmaceuticals, Inc. COM 02043Q107 1,068 11,340 SH   SOLE   11,340 0 0
Amarin Corporation plc SPONS ADR NEW 023111206 4,169 2,205,710 SH   SOLE   2,205,710 0 0
Anacor Pharmaceuticals, Inc. COM 032420101 474,307 4,198,520 SH   SOLE   4,198,520 0 0
Aptose Biosciences, Inc. COM NEW 03835T200 84 33,397 SH   SOLE   33,397 0 0
Aquinox Pharmaceuticals, Inc. COM 03842B101 84,207 6,747,332 SH   SOLE   6,747,332 0 0
Array BioPharma Inc. COM 04269X105 18,191 4,310,666 SH   SOLE   4,310,666 0 0
Arrowhead Research Corp. COM NEW 042797209 6,208 1,009,509 SH   SOLE   1,009,509 0 0
Ascendis Pharma A/S SPONSORED ADR 04351P101 9,261 505,521 SH   SOLE   505,521 0 0
Assembly Biosciences, Inc. COM 045396108 1,878 250,000 SH   SOLE   250,000 0 0
aTyr Pharma Inc. COM 002120103 22,954 2,335,125 SH   SOLE   2,335,125 0 0
Aurinia Pharmaceuticals Inc. COM 05156V102 1,789 711,499 SH   SOLE   711,499 0 0
Bellicum Pharmaceuticals, Inc. COM 079481107 98,627 4,865,647 SH   SOLE   4,865,647 0 0
BioCryst Pharmaceuticals, Inc. COM 09058V103 146,727 14,217,779 SH   SOLE   14,217,779 0 0
BioDelivery Sciences International, Inc. COM 09060J106 1,006 210,021 SH   SOLE   210,021 0 0
BioMarin Pharmaceutical Inc. COM 09061G101 431,096 4,115,083 SH   SOLE   4,115,083 0 0
BioTime, Inc. *W EXP 10/01/201 09066L162 24 20,084 SH   SOLE   20,084 0 0
bluebird bio, Inc. COM 09609G100 9,062 141,105 SH   SOLE   141,105 0 0
Catalyst Pharmaceuticals, Inc. COM 14888U101 20,275 8,275,630 SH   SOLE   8,275,630 0 0
Cellectis S.A. SPONSORED ADS 15117K103 1,552 50,000 SH   SOLE   50,000 0 0
Cerus Corporation COM 157085101 85,657 13,553,275 SH   SOLE   13,553,275 0 0
ChemoCentryx, Inc. COM 16383L106 397 49,064 SH   SOLE   49,064 0 0
Chimerix, Inc. COM 16934W106 1,031 115,216 SH   SOLE   115,216 0 0
Concert Pharmaceuticals, Inc. COM 206022105 9,407 495,908 SH   SOLE   495,908 0 0
Curis, Inc. COM 231269101 5,818 1,999,303 SH   SOLE   1,999,303 0 0
Cyclacel Pharmaceuticals, Inc. PFD CONV EX 6% 23254L207 52 13,253 SH   SOLE   13,253 0 0
CytRx Corporation COM PAR $.001 232828509 1,749 659,995 SH   SOLE   659,995 0 0
DBV Technologies S.A. SPONSORED ADR 23306J101 198,326 5,462,019 SH   SOLE   2,731,009 0 0
Derma Sciences, Inc. COM PAR $.01 249827502 17,148 3,752,390 SH   SOLE   3,752,390 0 0
Dermira, Inc. COM 24983L104 9,518 275,000 SH   SOLE   275,000 0 0
Dimension Therapeutics, Inc. COM 25433V105 13,925 1,234,481 SH   SOLE   1,234,481 0 0
Discovery Laboratories, Inc. COM NEW 254668403 764 3,569,643 SH   SOLE   3,569,643 0 0
Dyax Corp. COM 26746E103 312,623 8,310,017 SH   SOLE   8,310,017 0 0
Dynavax Technologies Corporation COM NEW 268158201 1,812 75,000 SH   SOLE   75,000 0 0
Enanta Pharmaceuticals, Inc. COM 29251M106 2,488 75,357 SH   SOLE   75,357 0 0
Endocyte, Inc. COM 29269A102 6,800 1,695,865 SH   SOLE   1,695,865 0 0
Epizyme, Inc. COM 29428V104 3,724 232,481 SH   SOLE   232,481 0 0
Five Prime Therapeutics, Inc. COM 33830X104 799 19,247 SH   SOLE   19,247 0 0
Flexion Therapeutics, Inc. COM 33938J106 2,826 146,642 SH   SOLE   146,642 0 0
Foamix Pharmaceuticals Ltd. SHS M46135105 16,601 2,046,967 SH   SOLE   2,046,967 0 0
Foundation Medicine, Inc. COM 350465100 440 20,892 SH   SOLE   20,892 0 0
Galapagos NV SPON ADR 36315X101 23,220 369,276 SH   SOLE   369,276 0 0
Genomic Health, Inc. COM 37244C101 480,806 13,659,264 SH   SOLE   13,659,264 0 0
Gilead Sciences, Inc. COM 375558103 25,297 249,995 SH   SOLE   249,995 0 0
Global Blood Therapeutics, Inc. COM 37890U108 12,932 400,000 SH   SOLE   400,000 0 0
Halozyme Therapeutics, Inc. COM 40637H109 33,465 1,931,057 SH   SOLE   1,931,057 0 0
Heron Therapeutics, Inc. COM 427746102 77,638 2,907,784 SH   SOLE   2,907,784 0 0
Idera Pharmaceuticals, Inc. COM NEW 45168K306 21,578 6,983,107 SH   SOLE   6,983,107 0 0
Ignyta, Inc. COM 451731103 7,651 571,000 SH   SOLE   571,000 0 0
Immune Design Corp. COM 45252L103 2,991 148,937 SH   SOLE   148,937 0 0
ImmunoGen, Inc. COM 45253H101 60,420 4,452,445 SH   SOLE   4,452,445 0 0
Incyte Corporation COM 45337C102 2,112,098 19,475,316 SH   SOLE   19,475,316 0 0
Insmed, Inc. COM PAR $.01 457669307 18,150 1,000,000 SH   SOLE   1,000,000 0 0
Intra-Cellular Therapies, Inc. COM 46116X101 32,767 609,166 SH   SOLE   609,166 0 0
Invitae Corporation COM 46185L103 53,816 6,554,967 SH   SOLE   6,554,967 0 0
Ironwood Pharmaceuticals, Inc. COM CL A 46333X108 1,961 169,163 SH   SOLE   169,163 0 0
Ionis Pharmaceuticals, Inc. COM 462222100 3,539 57,140 SH   SOLE   57,140 0 0
Juno Therapeutics, Inc. COM 48205A109 3,518 80,000 SH   SOLE   80,000 0 0
Karyopharm Therapeutics Inc. COM 48576U106 2,875 216,990 SH   SOLE   216,990 0 0
La Jolla Pharmaceutical Company COM PAR $.0001 2 503459604 371 13,746 SH   SOLE   13,746 0 0
Ligand Pharmaceuticals Incorporated COM NEW 53220K504 7,957 73,386 SH   SOLE   73,386 0 0
Lion Biotechnologies, Inc. COM 53619R102 14,031 1,817,429 SH   SOLE   1,817,429 0 0
Loxo Oncology, Inc. COM 548862101 3,919 137,735 SH   SOLE   137,735 0 0
MacroGenics, Inc. COM 556099109 11,263 363,676 SH   SOLE   363,676 0 0
Marinus Pharmaceuticals, Inc. COM 56854Q101 1,528 200,000 SH   SOLE   200,000 0 0
Mast Therapeutics, Inc. COM 576314108 2,016 4,797,442 SH   SOLE   4,797,442 0 0
Medivation, Inc. COM 58501N101 31,892 659,752 SH   SOLE   659,752 0 0
Medgenics Inc. COM NEW 58436Q203 4,605 765,000 SH   SOLE   765,000 0 0
MediWound Ltd. ORD SHS M68830104 1,922 225,000 SH   SOLE   225,000 0 0
Mirati Therapeutics, Inc. COM 60468T105 93,380 2,955,074 SH   SOLE   2,955,074 0 0
Nabriva Therapeutics AG SPONSORED ADR 62957M104 3,367 350,000 SH   SOLE   350,000 0 0
Natera, Inc. COM 632307104 2,700 250,000 SH   SOLE   250,000 0 0
Neurocrine Biosciences, Inc. COM 64125C109 48,126 850,739 SH   SOLE   850,739 0 0
NeuroDerm Ltd. ORD SHS M74231107 5,200 305,000 SH   SOLE   305,000 0 0
Novavax, Inc. COM 670002104 18,422 2,195,687 SH   SOLE   2,195,687 0 0
Ohr Pharmaceuticals, Inc. COM NEW 67778H200 2,274 370,370 SH   SOLE   370,370 0 0
Omeros Corporation COM 682143102 5,289 336,226 SH   SOLE   336,226 0 0
Ophthotech Corporation COM 683745103 2,800 35,649 SH   SOLE   35,649 0 0
Osiris Therapeutics, Inc. COM 68827R108 5,182 499,193 SH   SOLE   499,193 0 0
Palatin Technologies, Inc. COM PAR $ .01 696077403 1,361 2,050,000 SH   SOLE   2,050,000 0 0
Progenics Pharmaceuticals, Inc. COM 743187106 26,670 4,350,808 SH   SOLE   4,350,808 0 0
Pronai Therapeutics, Inc. COM 74346L101 3,008 200,000 SH   SOLE   200,000 0 0
ProQR Therapeutics N.V. SHS EURO N71542109 8,578 988,299 SH   SOLE   988,299 0 0
Proteon Therapeutics, Inc. COM 74371L109 4,631 298,591 SH   SOLE   298,591 0 0
Ritter Pharmaceuticals, Inc. COM 767836109 680 400,000 SH   SOLE   400,000 0 0
Sage Therapeutics, Inc. COM 78667J108 6,122 105,000 SH   SOLE   105,000 0 0
Sangamo BioSciences, Inc. COM 800677106 37,030 4,055,876 SH   SOLE   4,055,876 0 0
Seattle Genetics, Inc. COM 812578102 1,673,743 37,293,728 SH   SOLE   37,293,728 0 0
Seres Therapeutics, Inc. COM 81750R102 4,386 125,000 SH   SOLE   125,000 0 0
Spark Therapeutics, Inc. COM 84652J103 57,199 1,262,382 SH   SOLE   1,262,382 0 0
Stemline Therapeutics, Inc. COM 85858C107 2,104 333,497 SH   SOLE   333,497 0 0
Sunesis Pharmaceuticals, Inc. COM NEW 867328601 3,994 4,450,000 SH   SOLE   4,450,000 0 0
Arbutus Biopharma Corporation COM 03879J100 804 180,582 SH   SOLE   180,582 0 0
Tenax Therapeutics Inc. COM 88032L100 1,378 420,000 SH   SOLE   420,000 0 0
TG Therapeutics, Inc. COM 88322Q108 23,908 2,003,991 SH   SOLE   2,003,991 0 0
Trevena, Inc. COM 89532E109 4,725 450,000 SH   SOLE   450,000 0 0
Trillium Therapeutics, Inc. COM NEW 89620X506 2,671 211,792 SH   SOLE   211,792 0 0
Ultragenyx Pharmaceutical Inc. COM 90400D108 13,898 123,894 SH   SOLE   123,894 0 0
UniQure N.V. SHS N90064101 496 30,000 SH   SOLE   30,000 0 0
Versartis, Inc. COM 92529L102 40,166 3,241,783 SH   SOLE   3,241,783 0 0
Vitae Pharmaceuticals, Inc. COM 92847N103 3,396 187,597 SH   SOLE   187,597 0 0
Xencor, Inc. COM 98401F105 12,750 872,072 SH   SOLE   872,072 0 0
XenoPort, Inc. COM 98411C100 19,081 3,475,672 SH   SOLE   3,475,672 0 0
Zogenix, Inc. COM NEW 98978L204 14,740 1,000,000 SH   SOLE   1,000,000 0 0
Acorda Therapeutics, Inc. NOTE 1.75% 6/15/2021 00484MAA4 59,297 51,583,000 PRN   SOLE   51,583,000 0 0
Anacor Pharmaceuticals Inc. NOTE 2.0% 10/15/2021 032420AC5 152,294 42,000,000 PRN   SOLE   42,000,000 0 0
Aegerion Pharmaceuticals, Inc. NOTE 2.0% 8/15/2019 00767EAB8 17,552 26,517,000 PRN   SOLE   26,517,000 0 0
Array BioPharma Inc. NOTE 3.0% 6/1/2020 04269XAA3 2,816 3,000,000 PRN   SOLE   3,000,000 0 0
BioMarin Pharmaceutical Inc. NOTE 1.875% 4/23/2017 09061GAD3 115,158 22,379,000 PRN   SOLE   22,379,000 0 0
BioMarin Pharmaceutical Inc. NOTE 0.75% 10/15/2018 09061GAE1 15,698 12,228,000 PRN   SOLE   12,228,000 0 0
Clovis Oncology Inc. NOTE 2.5% 9/15/2021 189464AB6 110,982 129,300,000 PRN   SOLE   129,300,000 0 0
Corsicanto Ltd. NOTE 3.5% 1/15/2032 220480AB3 4,480 5,000,000 PRN   SOLE   5,000,000 0 0
Exelixis, Inc. NOTE 4.25% 8/15/2019 30161QAC8 23,260 20,000,000 PRN   SOLE   20,000,000 0 0
Gilead Sciences Inc. NOTE 1.625% 5/1/2016 375558AP8 93,469 20,944,000 PRN   SOLE   20,944,000 0 0
Incyte Corporation NOTE 0.375% 11/15/2018 144A 45337CAK8 556,688 259,000,000 PRN   SOLE   259,000,000 0 0
Incyte Corporation NOTE 1.25% 11/15/2020 144A 45337CAL6 596,530 274,500,000 PRN   SOLE   274,500,000 0 0
Protalix BioTherapeutics, Inc. NOTE 4.50% 9/15/2018 74365AAB7 2,375 3,423,000 PRN   SOLE   3,423,000 0 0