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
Aclaris Therapeutics COMM 00461U105 11,450 1,911,573 SH   SOLE   1,911,573 0 0
Amarin ADR 023111206 108,124 5,208,305 SH   SOLE   5,208,305 0 0
Apellis Pharmaceuticals, Inc COMM 03753U106 967 49,580 SH   SOLE   49,580 0 0
Ascendis Pharma A/S ADR 04351P101 117,528 998,538 SH   SOLE   998,538 0 0
Audentes Therapeutics COMM 05070R104 36,431 933,640 SH   SOLE   933,640 0 0
Chiasma COMM 16706W102 8,477 1,630,221 SH   SOLE   1,630,221 0 0
Coherus BioSciences COMM 19249H103 39,123 2,868,221 SH   SOLE   2,868,221 0 0
Entasis Therapeutics Holdings Inc. COMM 293614103 7,972 1,180,178 SH   SOLE   1,180,178 0 0
Iterum Therapeutics COMM G6333L101 13,677 1,726,514 SH   SOLE   1,726,514 0 0
Kiniksa Pharmaceuticals, Ltd COMM CL A G5269C101 16,664 922,700 SH   SOLE   922,700 0 0
Merus N.V. COMM N5749R100 28,965 1,961,039 SH   SOLE   1,961,039 0 0
Natera COMM 632307104 63,934 3,100,560 SH   SOLE   3,100,560 0 0
Nucana Biomed Ltd ADR 67022C106 38,533 2,266,666 SH   SOLE   2,266,666 0 0
Nucana Biomed Ltd Ordinary Shares GB00BYWYV 40,800 2,400,000 SH   SOLE   2,400,000 0 0
ObsEva SA COMM H5861P103 60,748 4,749,623 SH   SOLE   4,749,623 0 0
PDS Biotechnology Corporation COMM 70465T107 1,055 142,635 SH   SOLE   142,635 0 0
Principia Biopharma COMM 74257L108 69,299 2,038,208 SH   SOLE   2,038,208 0 0
Spark Therapeutics COMM 84652J103 54,807 481,270 SH   SOLE   481,270 0 0
Synlogic Inc. COMM 87166L100 4,364 574,972 SH   SOLE   574,972 0 0
Y-mAbs Therapeutics, Inc COMM 984241109 55,153 2,104,278 SH   SOLE   2,104,278 0 0
AbbVie Inc COMM 00287Y109 1,773 22,000 SH Call SOLE   22,000 0 0
Adverum Biotechnologies Inc COMM 00773U108 123 23,394 SH   SOLE   23,394 0 0
Akebia Therapeutics Inc COMM 00972D105 631 77,067 SH   SOLE   77,067 0 0
Allergan plc COMM G0177J108 1,908 13,033 SH   SOLE   13,033 0 0
Alnylam Pharmaceuticals Inc COMM 02043Q107 1,464 15,664 SH   SOLE   15,664 0 0
Amicus Therapeutics Inc COMM 03152W109 1,187 87,285 SH   SOLE   87,285 0 0
AnaptysBio Inc COMM 032724106 1,032 14,132 SH   SOLE   14,132 0 0
ArQule Inc COMM 04269E107 253 52,779 SH   SOLE   52,779 0 0
AstraZeneca PLC ADR 046353108 1,580 39,088 SH   SOLE   39,088 0 0
Biogen Inc COMM 09062X103 1,418 6,000 SH Call SOLE   6,000 0 0
Biohaven Pharmaceutical Holding Company Ltd COMM G11196105 945 18,358 SH   SOLE   18,358 0 0
Biomarin Pharmaceutical Inc COMM 09061G101 241 2,717 SH   SOLE   2,717 0 0
Blueprint Medicines Corp COMM 09627Y109 845 10,558 SH   SOLE   10,558 0 0
Clovis Oncology Inc COMM 189464100 243 9,795 SH   SOLE   9,795 0 0
Conatus Pharmaceuticals Inc COMM 20600T108 24 22,400 SH Call SOLE   22,400 0 0
Deciphera Pharmaceuticals Inc COMM 24344T101 706 30,414 SH   SOLE   30,414 0 0
Dermira Inc COMM 24983L104 988 72,896 SH   SOLE   72,896 0 0
Fate Therapeutics Inc COMM 31189P102 544 30,936 SH   SOLE   30,936 0 0
FibroGen Inc COMM 31572Q958 408 7,500 SH Put SOLE   7,500 0 0
FibroGen Inc COMM 31572Q808 465 8,554 SH   SOLE   8,554 0 0
Foamix Pharmaceuticals Ltd COMM M46135105 470 125,378 SH   SOLE   125,378 0 0
GW Pharmaceuticals PLC ADR 36197T103 495 2,938 SH   SOLE   2,938 0 0
Galapagos NV COMM 36315X101 353 3,000 SH Put SOLE   3,000 0 0
Halozyme Therapeutics Inc COMM 40637H109 949 58,962 SH   SOLE   58,962 0 0
Heron Therapeutics Inc COMM 427746102 851 34,840 SH   SOLE   34,840 0 0
ImmunoGen Inc COMM 45253H101 61 22,600 SH Call SOLE   22,600 0 0
Incyte Corp COMM 45337C102 685 7,960 SH   SOLE   7,960 0 0
Insmed Inc COMM 457669307 599 20,600 SH   SOLE   20,600 0 0
Intercept Pharmaceuticals Inc COMM 45845P108 738 6,600 SH   SOLE   6,600 0 0
Ishares Nasdaq Biotechnology COMM 464287956 2,370 21,200 SH Put SOLE   21,200 0 0
Ishares Nasdaq Biotechnology COMM 464287956 1,643 14,700 SH Put SOLE   14,700 0 0
Kadmon Holdings Inc COMM 48283N106 647 244,958 SH   SOLE   244,958 0 0
Kala Pharmaceuticals Inc COMM 483119103 426 51,489 SH   SOLE   51,489 0 0
MacroGenics Inc COMM 556099109 1,395 77,582 SH   SOLE   77,582 0 0
MorphoSys AG COMM D55040105 943 10,362 SH   SOLE   10,362 0 0
Neurocrine Biosciences Inc COMM 64125C109 1,456 16,523 SH   SOLE   16,523 0 0
Novo Nordisk A/S ADR 670100205 1,904 36,396 SH   SOLE   36,396 0 0
Orchard Therapeutics PLC ADR 68570P101 738 41,256 SH   SOLE   41,256 0 0
Osmotica Pharmaceuticals PLC COMM G6S41R101 133 36,901 SH   SOLE   36,901 0 0
Otonomy Inc COMM 68906L105 406 154,237 SH   SOLE   154,237 0 0
Portola Pharmaceuticals Inc COMM 737010108 153 4,408 SH   SOLE   4,408 0 0
Puma Biotechnology Inc COMM 74587V107 547 14,100 SH Call SOLE   14,100 0 0
Reata Pharmaceuticals Inc COMM 75615P103 817 9,554 SH   SOLE   9,554 0 0
Savara Inc COMM 805111101 848 115,029 SH   SOLE   115,029 0 0
Syndax Pharmaceuticals Inc COMM 87164F105 165 31,363 SH   SOLE   31,363 0 0
TG Therapeutics Inc COMM 88322Q108 416 51,687 SH   SOLE   51,687 0 0
XBiotech Inc COMM 98400H102 423 38,413 SH   SOLE   38,413 0 0
Xencor Inc COMM 98401F105 974 31,366 SH   SOLE   31,366 0 0
AbbVie Inc COMM 00287Y109 3,417 42,400 SH Call OTR 1 42,400 0 0
Adverum Biotechnologies Inc COMM 00773U108 236 45,031 SH   OTR 1 45,031 0 0
Akebia Therapeutics Inc COMM 00972D105 1,208 147,539 SH   OTR 1 147,539 0 0
Allergan plc COMM G0177J108 3,671 25,076 SH   OTR 1 25,076 0 0
Alnylam Pharmaceuticals Inc COMM 02043Q107 2,818 30,150 SH   OTR 1 30,150 0 0
Amicus Therapeutics Inc COMM 03152W109 2,284 167,928 SH   OTR 1 167,928 0 0
AnaptysBio Inc COMM 032724106 1,996 27,325 SH   OTR 1 27,325 0 0
ArQule Inc COMM 04269E107 470 98,218 SH   OTR 1 98,218 0 0
AstraZeneca PLC ADR 046353108 3,040 75,202 SH   OTR 1 75,202 0 0
Biogen Inc COMM 09062X103 2,718 11,500 SH Call OTR 1 11,500 0 0
Biohaven Pharmaceutical Holding Company Ltd COMM G11196105 1,819 35,335 SH   OTR 1 35,335 0 0
Biomarin Pharmaceutical Inc COMM 09061G101 465 5,230 SH   OTR 1 5,230 0 0
Blueprint Medicines Corp COMM 09627Y109 1,627 20,323 SH   OTR 1 20,323 0 0
Clovis Oncology Inc COMM 189464100 468 18,846 SH   OTR 1 18,846 0 0
Conatus Pharmaceuticals Inc COMM 20600T108 47 43,100 SH Call OTR 1 43,100 0 0
Deciphera Pharmaceuticals Inc COMM 24344T101 1,370 59,040 SH   OTR 1 59,040 0 0
Dermira Inc COMM 24983L104 1,816 134,033 SH   OTR 1 134,033 0 0
Fate Therapeutics Inc COMM 31189P102 1,041 59,225 SH   OTR 1 59,225 0 0
FibroGen Inc COMM 31572Q958 750 13,800 SH Put OTR 1 13,800 0 0
FibroGen Inc COMM 31572Q808 899 16,548 SH   OTR 1 16,548 0 0
Foamix Pharmaceuticals Ltd COMM M46135105 865 230,742 SH   OTR 1 230,742 0 0
GW Pharmaceuticals PLC ADR 36197T103 953 5,656 SH   OTR 1 5,656 0 0
Galapagos NV COMM 36315X101 671 5,700 SH Put OTR 1 5,700 0 0
Halozyme Therapeutics Inc COMM 40637H109 1,827 113,492 SH   OTR 1 113,492 0 0
Heron Therapeutics Inc COMM 427746102 1,630 66,699 SH   OTR 1 66,699 0 0
ImmunoGen Inc COMM 45253H101 112 41,500 SH Call OTR 1 41,500 0 0
Incyte Corp COMM 45337C102 1,318 15,321 SH   OTR 1 15,321 0 0
Insmed Inc COMM 457669307 1,153 39,650 SH   OTR 1 39,650 0 0
Intercept Pharmaceuticals Inc COMM 45845P108 1,421 12,702 SH   OTR 1 12,702 0 0
Ishares Nasdaq Biotechnology COMM 464287956 4,561 40,800 SH Put OTR 1 40,800 0 0
Ishares Nasdaq Biotechnology COMM 464287956 3,164 28,300 SH Put OTR 1 28,300 0 0
Kadmon Holdings Inc COMM 48283N106 1,238 468,954 SH   OTR 1 468,954 0 0
Kala Pharmaceuticals Inc COMM 483119103 815 98,572 SH   OTR 1 98,572 0 0
MacroGenics Inc COMM 556099109 2,685 149,309 SH   OTR 1 149,309 0 0
MorphoSys AG COMM D55040105 1,815 19,936 SH   OTR 1 19,936 0 0
Neurocrine Biosciences Inc COMM 64125C109 2,801 31,791 SH   OTR 1 31,791 0 0
Novo Nordisk A/S ADR 670100205 3,665 70,057 SH   OTR 1 70,057 0 0
Orchard Therapeutics PLC ADR 68570P101 1,419 79,372 SH   OTR 1 79,372 0 0
Osmotica Pharmaceuticals PLC COMM G6S41R101 270 74,997 SH   OTR 1 74,997 0 0
Otonomy Inc COMM 68906L105 747 283,853 SH   OTR 1 283,853 0 0
Portola Pharmaceuticals Inc COMM 737010108 294 8,484 SH   OTR 1 8,484 0 0
Puma Biotechnology Inc COMM 74587V107 1,043 26,900 SH Call OTR 1 26,900 0 0
Reata Pharmaceuticals Inc COMM 75615P103 1,572 18,390 SH   OTR 1 18,390 0 0
Savara Inc COMM 805111101 1,624 220,335 SH   OTR 1 220,335 0 0
Syndax Pharmaceuticals Inc COMM 87164F105 317 60,343 SH   OTR 1 60,343 0 0
TG Therapeutics Inc COMM 88322Q108 800 99,489 SH   OTR 1 99,489 0 0
XBiotech Inc COMM 98400H102 815 73,922 SH   OTR 1 73,922 0 0
Xencor Inc COMM 98401F105 1,874 60,346 SH   OTR 1 60,346 0 0
AbbVie Inc COMM 00287Y109 6,899 85,600 SH Call OTR 2 85,600 0 0
Adverum Biotechnologies Inc COMM 00773U108 476 90,812 SH   OTR 2 90,812 0 0
Akebia Therapeutics Inc COMM 00972D105 2,393 292,155 SH   OTR 2 292,155 0 0
Allergan plc COMM G0177J108 7,402 50,556 SH   OTR 2 50,556 0 0
Alnylam Pharmaceuticals Inc COMM 02043Q107 5,682 60,802 SH   OTR 2 60,802 0 0
Amicus Therapeutics Inc COMM 03152W109 4,473 328,895 SH   OTR 2 328,895 0 0
AnaptysBio Inc COMM 032724106 4,127 56,491 SH   OTR 2 56,491 0 0
ArQule Inc COMM 04269E107 981 204,728 SH   OTR 2 204,728 0 0
AstraZeneca PLC ADR 046353108 5,955 147,287 SH   OTR 2 147,287 0 0
Biogen Inc COMM 09062X103 5,319 22,500 SH Call OTR 2 22,500 0 0
Biohaven Pharmaceutical Holding Company Ltd COMM G11196105 3,668 71,259 SH   OTR 2 71,259 0 0
Biomarin Pharmaceutical Inc COMM 09061G101 937 10,547 SH   OTR 2 10,547 0 0
Blueprint Medicines Corp COMM 09627Y109 3,281 40,985 SH   OTR 2 40,985 0 0
Clovis Oncology Inc COMM 189464100 943 37,994 SH   OTR 2 37,994 0 0
Conatus Pharmaceuticals Inc COMM 20600T108 91 84,500 SH Call OTR 2 84,500 0 0
Deciphera Pharmaceuticals Inc COMM 24344T101 2,905 125,150 SH   OTR 2 125,150 0 0
Dermira Inc COMM 24983L104 3,749 276,711 SH   OTR 2 276,711 0 0
Fate Therapeutics Inc COMM 31189P102 1,996 113,581 SH   OTR 2 113,581 0 0
FibroGen Inc COMM 31572Q958 1,560 28,700 SH Put OTR 2 28,700 0 0
FibroGen Inc COMM 31572Q808 1,843 33,915 SH   OTR 2 33,915 0 0
Foamix Pharmaceuticals Ltd COMM M46135105 1,786 476,173 SH   OTR 2 476,173 0 0
GW Pharmaceuticals PLC ADR 36197T103 1,923 11,406 SH   OTR 2 11,406 0 0
Galapagos NV COMM 36315X101 1,331 11,300 SH Put OTR 2 11,300 0 0
Halozyme Therapeutics Inc COMM 40637H109 3,685 228,875 SH   OTR 2 228,875 0 0
Heron Therapeutics Inc COMM 427746102 3,229 132,112 SH   OTR 2 132,112 0 0
ImmunoGen Inc COMM 45253H101 233 85,900 SH Call OTR 2 85,900 0 0
Incyte Corp COMM 45337C102 2,564 29,816 SH   OTR 2 29,816 0 0
Insmed Inc COMM 457669307 2,320 79,807 SH   OTR 2 79,807 0 0
Intercept Pharmaceuticals Inc COMM 45845P108 2,865 25,616 SH   OTR 2 25,616 0 0
Ishares Nasdaq Biotechnology COMM 464287956 6,373 57,000 SH Put OTR 2 57,000 0 0
Ishares Nasdaq Biotechnology COMM 464287956 8,944 80,000 SH Put OTR 2 80,000 0 0
Kadmon Holdings Inc COMM 48283N106 2,529 957,858 SH   OTR 2 957,858 0 0
Kala Pharmaceuticals Inc COMM 483119103 1,615 195,285 SH   OTR 2 195,285 0 0
MacroGenics Inc COMM 556099109 5,338 296,865 SH   OTR 2 296,865 0 0
MorphoSys AG COMM D55040105 3,555 39,046 SH   OTR 2 39,046 0 0
Neurocrine Biosciences Inc COMM 64125C109 5,647 64,092 SH   OTR 2 64,092 0 0
Novo Nordisk A/S ADR 670100205 7,390 141,281 SH   OTR 2 141,281 0 0
Orchard Therapeutics PLC ADR 68570P101 2,780 155,455 SH   OTR 2 155,455 0 0
Osmotica Pharmaceuticals PLC COMM G6S41R101 508 141,191 SH   OTR 2 141,191 0 0
Otonomy Inc COMM 68906L105 1,541 585,775 SH   OTR 2 585,775 0 0
Portola Pharmaceuticals Inc COMM 737010108 594 17,108 SH   OTR 2 17,108 0 0
Puma Biotechnology Inc COMM 74587V107 2,048 52,800 SH Call OTR 2 52,800 0 0
Reata Pharmaceuticals Inc COMM 75615P103 3,170 37,087 SH   OTR 2 37,087 0 0
Savara Inc COMM 805111101 3,179 431,308 SH   OTR 2 431,308 0 0
Syndax Pharmaceuticals Inc COMM 87164F105 639 121,653 SH   OTR 2 121,653 0 0
TG Therapeutics Inc COMM 88322Q108 1,613 200,635 SH   OTR 2 200,635 0 0
XBiotech Inc COMM 98400H102 1,643 149,056 SH   OTR 2 149,056 0 0
Xencor Inc COMM 98401F105 3,671 118,195 SH   OTR 2 118,195 0 0