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

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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 COM 004225108 890 27,300 SH   SOLE   27,300 0 0
ACHILLION PHARMACEUTICALS INC COM 00448Q201 80,926 8,207,530 SH   SOLE   8,207,530 0 0
AGIOS PHARMACEUTICALS INC COM 00847X104 1,660 17,600 SH   SOLE   17,600 0 0
AGILE THERAPEUTICS INC COM 00847L100 13,523 1,458,792 SH   SOLE   1,458,792 0 0
AKEBIA THERAPEUTICS INC COM 00972D105 6,637 597,363 SH   SOLE   597,363 0 0
ALKERMES PLC SHS G01767105 1,171 19,200 SH   SOLE   19,200 0 0
AMGEN INC COM 031162100 943 5,900 SH   SOLE   5,900 0 0
ARRAY BIOPHARMA INC COM 04269X105 10,005 1,357,584 SH   SOLE   1,357,584 0 0
ASCENDIS PHARMA A S SPONSORED ADR 04351P101 17,760 1,023,652 SH   SOLE   1,023,652 0 0
AURINIA PHARMACEUTICALS INC COM 05156V102 6,561 1,504,776 SH   SOLE   1,504,776 0 0
BIOCRYST PHARMACEUTICALS COM 09058V103 62,547 6,926,617 SH   SOLE   6,926,617 0 0
BIOGEN INC COM 09062X103 1,098 2,600 SH   SOLE   2,600 0 0
BELLICUM PHARMACEUTICALS INC COM 079481107 23,782 1,026,402 SH   SOLE   1,026,402 0 0
BLUEBIRD BIO INC COM 09609G100 24,200 200,379 SH   SOLE   200,379 0 0
BIOTA PHARMACEUTIALS INC COM 090694100 3,229 1,403,853 SH   SOLE   1,403,853 0 0
CELGENE CORP COM 151020104 1,003 8,700 SH   SOLE   8,700 0 0
COHERUS BIOSCIENCES INC COM 19249H103 47,563 1,555,355 SH   SOLE   1,555,355 0 0
CELLADON CORP COM 15117E107 775 40,900 SH   SOLE   40,900 0 0
CONCERT PHARMACEUTICALS INC COM 206022105 9,996 660,000 SH   SOLE   660,000 0 0
DICERNA PHARMACEUTICALS INC COM 253031108 58,359 2,428,571 SH   SOLE   2,428,571 0 0
DYNAVAX TECHNOLOGIES CORP COM NEW 268158201 58,318 2,600,000 SH   SOLE   2,600,000 0 0
DYAX CORP COM 26746E103 70,498 4,207,594 SH   SOLE   4,207,594 0 0
AURIS MED HLDG AG COM H03579101 5,029 940,000 SH   SOLE   940,000 0 0
JUNO THERAPEUTICS INC COM 48205A109 16,985 280,000 SH   SOLE   280,000 0 0
KERYX BIOPHARMACEUTICALS INC COM 492515101 754 59,200 SH   SOLE   59,200 0 0
MERRIMACK PHARMACEUTICALS IN COM 590328100 1,383 116,400 SH   SOLE   116,400 0 0
NEWLINK GENETICS CORP COM 651511107 1,641 30,000 SH   SOLE   30,000 0 0
NOVAVAX INC COM 670002104 11,836 1,431,232 SH   SOLE   1,431,232 0 0
OCERA THERAPEUTICS INC COM 67552A108 1,966 417,476 SH   SOLE   417,476 0 0
OMEROS CORP COM 682143102 16,500 749,000 SH   SOLE   749,000 0 0
ONCOTHYREON INC COM 682324108 1,900 1,165,765 SH   SOLE   1,165,765 0 0
OREXIGEN THERAPEUTICS INC COM 686164104 9,288 1,186,229 SH   SOLE   1,186,229 0 0
PUMA BIOTECHNOLOGY INC COM 74587V107 732 3,100 SH   SOLE   3,100 0 0
PROTEON THERAPEUTICS INC COM 74371L109 14,538 1,250,000 SH   SOLE   1,250,000 0 0
PTC THERAPEUTICS INC COM 69366J200 1,570 25,800 SH   SOLE   25,800 0 0
REGENERON PHARMACEUTICALS COM 75886F107 1,106 2,450 SH   SOLE   2,450 0 0
REPLIGEN CORP COM 759916109 1,366 45,000 SH   SOLE   45,000 0 0
REGULUS THERAPEUTICS INC COM 75915K101 60,826 3,590,688 SH   SOLE   3,590,688 0 0
ROCKWELL MED INC COM 774374102 2,735 250,207 SH   SOLE   250,207 0 0
SUCAMPO PHARMACEUTICALS INC CL A 864909106 7,002 450,000 SH   SOLE   450,000 0 0
SCYNEXIS INC COM 811292101 6,550 789,097 SH   SOLE   789,097 0 0
SANGAMO BIOSCIENCES INC COM 800677106 19,133 1,220,209 SH   SOLE   1,220,209 0 0
SANGAMO BIOSCIENCES INC COM 800677106 94,080 6,000,000 SH Call SOLE   0 0 0
TENAX THERAPEUTICS INC COM 88032L100 8,705 2,670,300 SH   SOLE   2,670,300 0 0
TG THERAPEUTICS INC COM 88322Q108 48,377 3,125,149 SH   SOLE   3,125,149 0 0
TEKMIRA PHARMACEUTICALS CORP COM NEW 87911B209 47,400 2,714,800 SH   SOLE   2,714,800 0 0
TROVAGENE INC COM NEW 897238309 4,047 594,200 SH   SOLE   594,200 0 0
TREVENA INC COM 89532E109 8,642 1,325,407 SH   SOLE   1,325,407 0 0
TESARO INC COM 881569107 1,349 23,500 SH   SOLE   23,500 0 0
T2 BIOSYSTEMS INC COM 89853L104 2,142 138,002 SH   SOLE   138,002 0 0
THERAPEUTICSMD INC COM 88338N107 10,166 1,680,395 SH   SOLE   1,680,395 0 0
VICAL INC COM 925602104 6,637 7,024,274 SH   SOLE   7,024,274 0 0
VERSARTIS INC COM 92529L102 4,248 231,267 SH   SOLE   231,267 0 0
WAFERGEN BIO-SYSTEMS INC COM PAR$ 93041P308 1,157 255,400 SH   SOLE   255,400 0 0
XENCOR INC COM 98401F105 32,929 2,149,423 SH   SOLE   2,149,423 0 0
ZAFGEN INC COM 98885E103 29,033 732,960 SH   SOLE   732,960 0 0
ZS PHARMA INC COM 98979G105 23,753 564,483 SH   SOLE   564,483 0 0