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
ACADIA PHARMACEUTICALS INC COM 004225108 867 27,300 SH   SOLE   27,300 0 0
ACADIA PHARMACEUTICALS INC COM 004225108 31,750 1,000,000 SH Call SOLE   0 0 0
ACHILLION PHARMACEUTICALS IN COM 00448Q201 30,625 2,500,000 SH Call SOLE   0 0 0
ACHILLION PHARMACEUTICALS INC COM 00448Q201 82,075 6,700,000 SH   SOLE   6,700,000 0 0
AGIOS PHARMACEUTICALS INC COM 00847X104 1,972 17,600 SH   SOLE   17,600 0 0
AKEBIA THERAPEUTICS INC COM 00972D105 6,953 597,363 SH   SOLE   597,363 0 0
ALKERMES PLC SHS G01767105 1,124 19,200 SH   SOLE   19,200 0 0
AMGEN INC COM 031162100 940 5,900 SH   SOLE   5,900 0 0
AURINIA PHARMACEUTICALS INC COM 05156V102 9,006 2,474,076 SH   SOLE   2,474,076 0 0
AURIS MED HLDG AG COM H03579101 3,666 940,000 SH   SOLE   940,000 0 0
BELLICUM PHARMACEUTICALS INC COM 079481107 9,337 1,026,402 SH   SOLE   1,026,402 0 0
BIOCRYST PHARMACEUTICALS COM 09058V103 85,732 7,050,356 SH   SOLE   7,050,356 0 0
BIOGEN IDEC INC COM 09062X103 883 2,600 SH   SOLE   2,600 0 0
BIOTA PHARMACEUTIALS INC COM 090694100 3,088 1,378,770 SH   SOLE   1,378,770 0 0
BLUEBIRD BIO INC COM 09609G100 46,422 506,122 SH   SOLE   506,122 0 0
CELGENE CORP COM 151020104 973 8,700 SH   SOLE   8,700 0 0
CELLADON CORP COM 15117E107 799 40,900 SH   SOLE   40,900 0 0
COHERUS BIOSCIENCES INC COM 19249H103 25,383 1,555,355 SH   SOLE   1,555,355 0 0
CTI BIOPHARMA CORP COM 12648L106 5,900 2,500,000 SH   SOLE   2,500,000 0 0
DICERNA PHARMACEUTICALS INC COM 253031108 39,999 2,428,571 SH   SOLE   2,428,571 0 0
DYAX CORP COM 26746E103 69,536 4,945,697 SH   SOLE   4,945,697 0 0
FORWARD PHARMA A/S SPONSORED ADR 34986J105 20,218 970,600 SH   SOLE   970,600 0 0
JUNO THERAPEUTICS INC COM 48205A109 14,622 280,000 SH   SOLE   280,000 0 0
KERYX BIOPHARMACEUTICALS INC COM 492515101 838 59,200 SH   SOLE   59,200 0 0
KYTHERA BIOPHARMACEUTICALS COM 501570105 789 22,750 SH   SOLE   22,750 0 0
MERRIMACK PHARMACEUTICALS INC COM 590328100 1,315 116,400 SH   SOLE   116,400 0 0
NEWLINK GENETICS CORP COM 651511107 1,193 30,000 SH   SOLE   30,000 0 0
NOVAVAX INC COM 670002104 19,220 3,241,083 SH   SOLE   3,241,083 0 0
OCERA THERAPEUTICS INC COM 67552A108 2,659 417,476 SH   SOLE   417,476 0 0
OPHTHOTECH CORP COM 683745103 13,935 310,554 SH   SOLE   310,554 0 0
PROTEON THERAPEUTICS INC COM 74371L109 13,000 1,250,000 SH   SOLE   1,250,000 0 0
PTC THERAPEUTICS INC COM 69366J200 1,336 25,800 SH   SOLE   25,800 0 0
PUMA BIOTECHNOLOGY INC COM 74587V107 587 3,100 SH   SOLE   3,100 0 0
REGENERON PHARMACEUTICALS COM 75886F107 1,005 2,450 SH   SOLE   2,450 0 0
REGULUS THERAPEUTICS INC COM 75915K101 76,076 4,742,911 SH   SOLE   4,742,911 0 0
REPLIGEN CORP COM 759916109 891 45,000 SH   SOLE   45,000 0 0
ROCKWELL MED INC COM 774374102 7,260 706,252 SH   SOLE   706,252 0 0
SANGAMO BIOSCIENCES INC COM 800677106 18,559 1,220,209 SH   SOLE   1,220,209 0 0
SANGAMO BIOSCIENCES INC COM 800677106 91,620 6,000,000 SH Call SOLE   0 0 0
SCYNEXIS INC COM 811292101 8,383 840,000 SH   SOLE   840,000 0 0
T2 BIOSYSTEMS INC COM 89853L104 2,655 138,002 SH   SOLE   138,002 0 0
TENAX THERAPEUTICS INC COM 88032L100 10,254 2,670,300 SH   SOLE   2,670,300 0 0
TG THERAPEUTICS INC COM 88322Q108 53,071 3,350,449 SH   SOLE   3,350,449 0 0
THERAPEUTICSMD INC COM 88338N107 14,290 3,211,132 SH   SOLE   3,211,132 0 0
TREVENA INC COM 89532E109 17,788 2,974,647 SH   SOLE   2,974,647 0 0
VERSARTIS INC COM 92529L102 5,192 231,267 SH   SOLE   231,267 0 0
VICAL INC COM 925602104 6,514 6,203,690 SH   SOLE   6,203,690 0 0
WAFERGEN BIO-SYSTEMS INC COM PAR$ 93041P308 1,680 560,000 SH   SOLE   560,000 0 0
XENCOR INC COM 98401F105 22,447 1,399,423 SH   SOLE   1,399,423 0 0
ZAFGEN INC COM 98885E103 22,604 732,960 SH   SOLE   732,960 0 0
ZS PHARMA INC COM 98979G105 23,466 564,483 SH   SOLE   564,483 0 0