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 17,792 327,000 SH   DFND 1,2 327,000 0 0
ABEONA THERAPEUTICS INC COM 00289Y107 2,430 600,000 SH   DFND 1,2 600,000 0 0
ACCELERON PHARMA INC COM 00434H108 2,490 100,000 SH   DFND 1,2 100,000 0 0
ACORDA THERAPEUTICS INC COM 00484M106 7,158 270,000 SH   DFND 1,2 270,000 0 0
AEGERION PHARMACEUTICALS INC COM 00767E102 2,040 150,000 SH   DFND 1,2 150,000 0 0
AIMMUNE THERAPEUTICS INC COM 00900T107 5 200 SH   DFND 1,2 200 0 0
ALDER BIOPHARMACEUTICALS INC COM 014339105 4,095 125,000 SH   DFND 1,2 125,000 0 0
ALDEYRA THERAPEUTICS INC COM 01438T106 1,545 265,000 SH   DFND 1,2 265,000 0 0
ALEXION PHARMACEUTICALS INC COM 015351109 5,474 35,000 SH   DFND 1,2 35,000 0 0
ALLERGAN PLC SHS G0177J108 48,138 177,100 SH   DFND 1,2 177,100 0 0
ALNYLAM PHARMACEUTICALS INC COM 02043Q107 3,214 40,000 SH   DFND 1,2 40,000 0 0
AMAG PHARMACEUTICALS INC COM 00163U106 3,386 85,230 SH   DFND 1,2 85,230 0 0
AMGEN INC COM 031162100 6,944 50,200 SH   DFND 1,2 50,200 0 0
AMICUS THERAPEUTICS INC COM 03152W109 4,337 310,000 SH   DFND 1,2 310,000 0 0
ANACOR PHARMACEUTICALS INC COM 032420101 1,177 10,000 SH   DFND 1,2 10,000 0 0
ARBUTUS BIOPHARMA CORP COM 03879J100 3,075 505,000 SH   DFND 1,2 505,000 0 0
ARRAY BIOPHARMA INC CALL 04269X905 3,420 7,500 SH Call DFND 1,2 0 0 0
ARRAY BIOPHARMA INC COM 04269X105 1,596 350,000 SH   DFND 1,2 350,000 0 0
ARROWHEAD RESH CORP COM NEW 042797209 3,110 540,000 SH   DFND 1,2 540,000 0 0
ATYR PHARMA INC COM 002120103 2,145 209,027 SH   DFND 1,2 209,027 0 0
BELLICUM PHARMACEUTICALS INC COM 079481107 3,364 231,514 SH   DFND 1,2 231,514 0 0
BIOGEN INC COM 09062X103 24,804 85,000 SH   DFND 1,2 85,000 0 0
BIOMARIN PHARMACEUTICAL INC COM 09061G101 13,165 125,000 SH   DFND 1,2 125,000 0 0
BIOTIE THERAPIES OYJ SPONSORED ADR 09074D103 2,576 196,800 SH   DFND 1,2 196,800 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 8,880 150,000 SH   DFND 1,2 150,000 0 0
CARA THERAPEUTICS INC COM 140755109 3,141 219,800 SH   DFND 1,2 219,800 0 0
CARBYLAN THERAPEUTICS INC COM 141384107 1,428 400,000 SH   DFND 1,2 400,000 0 0
CATABASIS PHARMACEUTICALS IN COM 14875P107 2,595 327,476 SH   DFND 1,2 327,476 0 0
CATALYST PHARMACEUTICALS INC COM 14888U101 3,300 1,100,000 SH   DFND 1,2 1,100,000 0 0
CELGENE CORP COM 151020104 12,980 120,000 SH   DFND 1,2 120,000 0 0
CEMPRA INC COM 15130J109 2,088 75,000 SH   DFND 1,2 75,000 0 0
CLOVIS ONCOLOGY INC COM 189464100 9,656 105,000 SH   DFND 1,2 105,000 0 0
COLUCID PHARMACEUTICALS INC COM 19716T101 1,228 317,250 SH   DFND 1,2 317,250 0 0
CONCERT PHARMACEUTICALS INC COM 206022105 3,754 200,000 SH   DFND 1,2 200,000 0 0
CYNAPSUS THERAPEUTICS INC COM PAR NO PAR 23257Y859 3,059 188,930 SH   DFND 1,2 188,930 0 0
CYTOKINETICS INC COM NEW 23282W605 2,490 372,250 SH   DFND 1,2 372,250 0 0
DEPOMED INC COM 249908104 6,786 360,000 SH   DFND 1,2 360,000 0 0
DYNAVAX TECHNOLOGIES CORP COM NEW 268158201 2,454 100,000 SH   DFND 1,2 100,000 0 0
EGALET CORP COM 28226B104 4,284 325,000 SH   DFND 1,2 325,000 0 0
EPIZYME INC COM 29428V104 1,929 150,000 SH   DFND 1,2 150,000 0 0
EXELIXIS INC COM 30161Q104 2,805 500,000 SH   DFND 1,2 500,000 0 0
FIVE PRIME THERAPEUTICS INC COM 33830X104 2,693 175,000 SH   DFND 1,2 175,000 0 0
FOAMIX PHARMACEUTICALS LTD SHS M46135105 2,785 380,000 SH   DFND 1,2 380,000 0 0
FORWARD PHARMA A/S SPONSORED ADR 34986J105 3,181 135,000 SH   DFND 1,2 135,000 0 0
GENOCEA BIOSCIENCES INC COM 372427104 2,584 377,200 SH   DFND 1,2 377,200 0 0
GENVEC INC COM NEW 37246C307 832 360,325 SH   DFND 1,2 360,325 0 0
GILEAD SCIENCES INC COM 375558103 11,783 120,000 SH   DFND 1,2 120,000 0 0
GW PHARMACEUTICALS PLC ADS 36197T103 3,938 43,100 SH   DFND 1,2 43,100 0 0
HALOZYME THERAPEUTICS INC COM 40637H109 2,015 150,000 SH   DFND 1,2 150,000 0 0
HERON THERAPEUTICS INC COM 427746102 1,220 50,000 SH   DFND 1,2 50,000 0 0
HORIZON PHARMA PLC CALL G4617B905 6,937 3,500 SH Call DFND 1,2 0 0 0
HORIZON PHARMA PLC SHS G4617B105 3,964 200,000 SH   DFND 1,2 200,000 0 0
IMMUNE DESIGN CORP COM 45252L103 2,074 170,000 SH   DFND 1,2 170,000 0 0
INCYTE CORP COM 45337C102 11,033 100,000 SH   DFND 1,2 100,000 0 0
INOTEK PHARMACEUTICALS CORP COM 45780V102 2,773 295,000 SH   DFND 1,2 295,000 0 0
INSMED INC COM PAR $.01 457669307 3,064 165,000 SH   DFND 1,2 165,000 0 0
INTERCEPT PHARMACEUTICALS IN COM 45845P108 2,903 17,500 SH   DFND 1,2 17,500 0 0
INTRA CELLULAR THERAPIES INC COM 46116X101 4,220 105,400 SH   DFND 1,2 105,400 0 0
ISHARES TR PUT 464287956 30,333 1,000 SH Put DFND 1,2 1,000 0 0
ISIS PHARMACEUTICALS INC COM 464330109 2,749 68,000 SH   DFND 1,2 68,000 0 0
KEMPHARM INC COM 488445107 3,961 204,393 SH   DFND 1,2 204,393 0 0
KERYX BIOPHARMACEUTICALS INC COM 492515101 2,464 700,000 SH   DFND 1,2 700,000 0 0
KITE PHARMA INC COM 49803L109 3,172 56,970 SH   DFND 1,2 56,970 0 0
MACROGENICS INC COM 556099109 3,641 170,000 SH   DFND 1,2 170,000 0 0
MARINUS PHARMACEUTICALS INC COM 56854Q101 1,352 162,120 SH   DFND 1,2 162,120 0 0
MIRATI THERAPEUTICS INC COM 60468T105 2,754 80,000 SH   DFND 1,2 80,000 0 0
MYLAN N V CALL N59465909 12,078 3,000 SH Call DFND 1,2 0 0 0
MYLAN N V SHS EURO N59465109 8,052 200,000 SH   DFND 1,2 200,000 0 0
NABRIVA THERAPEUTICS AG SPONSORED ADR 62957M104 1,663 175,000 SH   DFND 1,2 175,000 0 0
NEURODERM LTD ORD SHS M74231107 1,757 85,000 SH   DFND 1,2 85,000 0 0
NIVALIS THERAPEUTICS INC COM 65481J109 2,616 201,720 SH   DFND 1,2 201,720 0 0
NOVARTIS A G SPONSORED ADR 66987V109 1,838 20,000 SH   DFND 1,2 20,000 0 0
NOVAVAX INC COM 670002104 1,061 150,000 SH   DFND 1,2 150,000 0 0
OCERA THERAPEUTICS INC COM 67552A108 1,580 500,000 SH   DFND 1,2 500,000 0 0
PALATIN TECHNOLOGIES INC COM PAR $ .01 696077403 2,720 3,358,483 SH   DFND 1,2 3,358,483 0 0
PFIZER INC COM 717081103 18,030 574,013 SH   DFND 1,2 574,013 0 0
PIERIS PHARMACEUTICALS INC COM 720795103 1,647 900,000 SH   DFND 1,2 900,000 0 0
PORTOLA PHARMACEUTICALS INC COM 737010108 4,049 95,000 SH   DFND 1,2 95,000 0 0
PROTHENA CORP PLC SHS G72800108 2,046 45,133 SH   DFND 1,2 45,133 0 0
PTC THERAPEUTICS INC CALL 69366J900 4,272 1,600 SH Call DFND 1,2 0 0 0
PTC THERAPEUTICS INC COM 69366J200 107 4,000 SH   DFND 1,2 4,000 0 0
RAPTOR PHARMACEUTICAL CORP COM 75382F106 3,534 584,089 SH   DFND 1,2 584,089 0 0
RELYPSA INC COM 759531106 1,981 107,000 SH   DFND 1,2 107,000 0 0
RETROPHIN INC COM 761299106 3,039 150,000 SH   DFND 1,2 150,000 0 0
SAGE THERAPEUTICS INC COM 78667J108 339 8,000 SH   DFND 1,2 8,000 0 0
SAREPTA THERAPEUTICS INC COM 803607100 1,766 55,000 SH   DFND 1,2 55,000 0 0
SCYNEXIS INC COM 811292101 2,279 313,000 SH   DFND 1,2 313,000 0 0
SEATTLE GENETICS INC COM 812578102 1,928 50,000 SH   DFND 1,2 50,000 0 0
SELECT SECTOR SPDR TR PUT 81369Y959 66,230 10,000 SH Put DFND 1,2 10,000 0 0
SHIRE PLC SPONSORED ADR 82481R106 13,252 169,751 SH   DFND 1,2 169,751 0 0
SPARK THERAPEUTICS INC COM 84652J103 2,921 70,000 SH   DFND 1,2 70,000 0 0
SPDR SERIES TRUST PUT 78464A950 37,350 6,000 SH Put DFND 1,2 6,000 0 0
SUMMIT THERAPEUTICS PLC SPONS ADS 86627R102 2,136 205,200 SH   DFND 1,2 205,200 0 0
TESARO INC COM 881569107 4,712 117,500 SH   DFND 1,2 117,500 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 36,473 646,000 SH   DFND 1,2 646,000 0 0
THERAPEUTICSMD INC COM 88338N107 3,003 512,500 SH   DFND 1,2 512,500 0 0
TOBIRA THERAPEUTICS INC COM 88883P101 1,329 137,622 SH   DFND 1,2 137,622 0 0
TRILLIUM THERAPEUTICS INC COM NEW 89620X506 1,915 147,000 SH   DFND 1,2 147,000 0 0
ULTRAGENYX PHARMACEUTICAL IN COM 90400D108 2,957 30,700 SH   DFND 1,2 30,700 0 0
UNIQURE NV SHS N90064101 2,352 115,000 SH   DFND 1,2 115,000 0 0
UNITED THERAPEUTICS CORP DEL COM 91307C102 3,785 28,840 SH   DFND 1,2 28,840 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 2,809 15,750 SH   DFND 1,2 15,750 0 0
VANDA PHARMACEUTICALS INC COM 921659108 5,791 513,390 SH   DFND 1,2 513,390 0 0
VERTEX PHARMACEUTICALS INC COM 92532F100 4,166 40,000 SH   DFND 1,2 40,000 0 0
ZAFGEN INC COM 98885E103 1,278 40,000 SH   DFND 1,2 40,000 0 0
ZOGENIX INC COM NEW 98978L204 1,620 120,000 SH   DFND 1,2 120,000 0 0
AXALTA COATING SYS LTD COM G0750C108 1,029 40,626 SH   DFND   40,626 0 0
CELLCOM ISRAEL LTD SHS M2196U109 8,793 357,452 SH   DFND   357,452 0 0
CHARTER COMMUNICATIONS INC D CL A NEW 16117M305 708 4,026 SH   DFND   4,026 0 0
CHECK POINT SOFTWARE TECH LT ORD M22465104 5,738 72,327 SH   DFND   72,327 0 0
DELPHI AUTOMOTIVE PLC SHS G27823106 696 9,150 SH   DFND   9,150 0 0
ELBIT SYS LTD ORD M3760D101 29,169 100,618 SH   DFND   100,618 0 0
ELLOMAY CAPITAL LIMITED SHS M39927120 2,335 221,097 SH   DFND   221,097 0 0
MONDELEZ INTL INC CL A 609207105 2,490 59,475 SH   DFND   59,475 0 0
NICE SYS LTD SPONSORED ADR 653656108 255 4,525 SH   DFND   4,525 0 0
ORBOTECH LTD ORD M75253100 1,213 78,482 SH   DFND   78,482 0 0
ORMAT TECHNOLOGIES INC COM 686688102 17,551 132,659 SH   DFND   132,659 0 0
PALO ALTO NETWORKS INC COM 697435105 1,720 10,002 SH   DFND   10,002 0 0
PARTNER COMMUNICATIONS CO LT ADR 70211M109 2,416 617,951 SH   DFND   617,951 0 0
PERRIGO CO PLC CALL G97822103 8,603 547 SH Call DFND   0 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 6,625 89,216 SH   DFND   89,216 0 0
SMITH A O COM 831865209 681 10,441 SH   DFND   10,441 0 0
SPDR S&P 500 ETF TR PUT 78462F953 46,969 2,451 SH Put DFND   2,451 0 0
STARBUCKS CORP COM 855244109 3,563 62,683 SH   DFND   62,683 0 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 6,036 106,905 SH   DFND   106,905 0 0
TJX COS INC NEW COM 872540109 2,964 41,496 SH   DFND   41,496 0 0
WABTEC CORP COM 929740108 2,002 22,735 SH   DFND   22,735 0 0
WIX COM LTD SHS M98068105 1,013 58,160 SH   DFND   58,160 0 0