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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
AMBIT BIOSCIENCES CORP COM 02318X100 0 24 SH   SOLE   24 0 0
AMBIT BIOSCIENCES CORP COM 02318X100 0 22 SH   OTR 1 0 22 0
BIOMARIN PHARMACEUTICAL INC COM 09061G101 13,157 182,300 SH   SOLE   182,300 0 0
CORSICANTO LTD NOTE 3.50% 1/15/32 220480AC1 2,762 2,500,000 PRN   SOLE   2,500,000 0 0
DENDREON CORP NOTE 2.875% 1/15/16 24823QAC1 16,191 26,515,000 PRN   SOLE   26,515,000 0 0
DENDREON CORP COM 24823Q107 233 79,600 SH   OTR 1 0 79,600 0
DEPOMED INC COM 249908104 6,244 835,931 SH   SOLE   835,931 0 0
ENDOCYTE INC COM 29269A102 6,209 465,763 SH   SOLE   465,763 0 0
INTERMUNE INC NOTE 2.50% 9/15/18 45884XAE3 15,263 17,000,000 PRN   SOLE   17,000,000 0 0
MANNKIND CORP NOTE 3.750% 12/15/13 56400PAA0 17,110 17,144,000 PRN   SOLE   17,144,000 0 0
MIRATI THERAPEUTICS INC COM 60468T105 17,898 1,181,400 SH   SOLE   1,181,400 0 0
ONCOGENEX PHARMACEUTICALS INC COM 68230A106 8,650 933,100 SH   SOLE   933,100 0 0
OPKO HEALTH INC NOTE 3.0% 2/1/33 68375NAA1 30,939 25,000,000 PRN   SOLE   25,000,000 0 0
PDL BIOPHARMA INC NOTE 2.875% 2/15/15 69329YAE4 37,556 25,974,000 PRN   SOLE   25,974,000 0 0
SALIX PHARMACEUTICALS INC COM 795435106 20,064 300,000 SH   SOLE   300,000 0 0
SAVIENT PHARMACEUTICALS INC NOTE 4.750% 2/1/18 80517QAA8 7,314 30,476,000 PRN   SOLE   30,476,000 0 0
SOPHIRIS BIO INC COM 83578Q209 2,340 500,000 SH   SOLE   500,000 0 0