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 821,016 14,373,538 SH   SOLE   14,373,538 0 0
ACADIA Pharmaceuticals Inc. COM 004225108 677,019 24,213,838 SH   SOLE   24,213,838 0 0
Acceleron Pharma, Inc. COM 00434H108 759 28,765 SH   SOLE   28,765 0 0
Achaogen, Inc. COM 004449104 276 100,000 SH   SOLE   100,000 0 0
Achillion Pharmaceuticals, Inc. COM 00448Q201 19,111 2,475,515 SH   SOLE   2,475,515 0 0
Acorda Therapeutics, Inc. COM 00484M106 96,836 3,661,082 SH   SOLE   3,661,082 0 0
Adamas Pharmaceuticals, Inc. COM 00548A106 2,496 172,630 SH   SOLE   172,630 0 0
Adaptimmune Therapeutics plc SPONSORED ADR 00653A107 813 100,000 SH   SOLE   100,000 0 0
Advanced Accelerator Applications S.A. SPONSORED ADR 00790T100 21,538 615,033 SH   SOLE   1,230,066 0 0
Aerie Pharmaceuticals, Inc. COM 00771V108 3,640 299,356 SH   SOLE   299,356 0 0
Affimed N.V. COM N01045108 1,496 400,000 SH   SOLE   400,000 0 0
Agios Pharmaceuticals, Inc. COM 00847X104 12,501 307,915 SH   SOLE   307,915 0 0
Aimmune Therapeutics, Inc. COM 00900T107 3,390 250,000 SH   SOLE   250,000 0 0
Akari Therapeutics plc SPONSORED ADR 00972G108 5,542 395,882 SH   SOLE   395,882 0 0
Alcobra Ltd. SHS M2239P109 8,855 2,336,359 SH   SOLE   2,336,359 0 0
Aldeyra Therapeutics, Inc. COM 01438T106 595 142,000 SH   SOLE   142,000 0 0
Alexion Pharmaceuticals, Inc. COM 015351109 910,861 6,542,599 SH   SOLE   6,542,599 0 0
Alkermes plc SHS G01767105 8,556 250,251 SH   SOLE   250,251 0 0
Alnylam Pharmaceuticals, Inc. COM 02043Q107 712 11,340 SH   SOLE   11,340 0 0
Amarin Corporation plc SPONSORED ADR NEW 023111206 1,227 801,860 SH   SOLE   801,860 0 0
Anacor Pharmaceuticals, Inc. COM 032420101 273,791 5,122,375 SH   SOLE   5,122,375 0 0
Aptose Biosciences Inc. COM NEW 03835T200 100 33,397 SH   SOLE   33,397 0 0
Aquinox Pharmaceuticals, Inc. COM 03842B101 68,377 7,752,487 SH   SOLE   7,752,487 0 0
Array BioPharma Inc. COM 04269X105 12,716 4,310,666 SH   SOLE   4,310,666 0 0
Arrowhead Pharmaceuticals, Inc. COM NEW 04280A100 4,866 1,009,509 SH   SOLE   1,009,509 0 0
Ascendis Pharma A/S SPONSORED ADR 04351P101 9,377 505,521 SH   SOLE   505,521 0 0
Assembly Biosciences, Inc. COM 045396108 1,255 250,000 SH   SOLE   250,000 0 0
aTyr Pharma, Inc. COM 002120103 8,422 2,137,606 SH   SOLE   2,137,606 0 0
Aurinia Pharmaceuticals Inc. COM 05156V102 2,082 711,499 SH   SOLE   711,499 0 0
BeiGene, Ltd. SPONSORED ADR 07725L102 56,061 1,912,680 SH   SOLE   24,864,840 0 0
Bellicum Pharmaceuticals, Inc. COM 079481107 45,494 4,865,647 SH   SOLE   4,865,647 0 0
BioCryst Pharmaceuticals, Inc. COM 09058V103 42,480 15,010,534 SH   SOLE   15,010,534 0 0
BioDelivery Sciences International, Inc. COM 09060J106 678 210,021 SH   SOLE   210,021 0 0
BioMarin Pharmaceutical Inc. COM 09061G101 396,439 4,806,483 SH   SOLE   4,806,483 0 0
BioTime, Inc. *W EXP 10/1/201 09066L162 12 20,084 SH   SOLE   20,084 0 0
bluebird bio, Inc. COM 09609G100 15,000 352,943 SH   SOLE   352,943 0 0
Catalyst Pharmaceuticals, Inc. COM 14888U101 6,433 5,498,459 SH   SOLE   5,498,459 0 0
Cellectis S.A. SPONSORED ADS 15117K103 1,375 50,000 SH   SOLE   50,000 0 0
Cerus Corporation COM 157085101 80,371 13,553,275 SH   SOLE   13,553,275 0 0
ChemoCentryx, Inc. COM 16383L106 122 49,064 SH   SOLE   49,064 0 0
Chimerix, Inc. COM 16934W106 589 115,216 SH   SOLE   115,216 0 0
Concert Pharmaceuticals, Inc. COM 206022105 6,774 495,908 SH   SOLE   495,908 0 0
Curis, Inc. COM 231269101 3,219 1,999,303 SH   SOLE   1,999,303 0 0
Cyclacel Pharmaceuticals, Inc. PFD CONV EX 6% 23254L207 76 13,253 SH   SOLE   13,253 0 0
CytRx Corporation COM PAR $.001 232828509 1,769 659,995 SH   SOLE   659,995 0 0
DBV Technologies S.A. SPONSORED ADR 23306J101 179,336 5,509,560 SH   SOLE   2,754,780 0 0
Derma Sciences, Inc. COM PAR $.01 249827502 11,632 3,752,390 SH   SOLE   3,752,390 0 0
Dermira, Inc. COM 24983L104 5,687 275,000 SH   SOLE   275,000 0 0
Dimension Therapeutics, Inc. COM 25433V105 9,802 1,251,881 SH   SOLE   1,251,881 0 0
Discovery Laboratories, Inc. COM PAR 254668502 426 254,973 SH   SOLE   254,973 0 0
Dynavax Technologies Corporation COM NEW 268158201 1,443 75,000 SH   SOLE   75,000 0 0
Enanta Pharmaceuticals, Inc. COM 29251M106 2,213 75,357 SH   SOLE   75,357 0 0
Endocyte, Inc. COM 29269A102 5,257 1,695,865 SH   SOLE   1,695,865 0 0
Epizyme, Inc. COM 29428V104 2,818 232,481 SH   SOLE   232,481 0 0
Exelixis, Inc. COM 30161Q104 10,320 2,580,000 SH   SOLE   2,580,000 0 0
Five Prime Therapeutics, Inc. COM 33830X104 782 19,247 SH   SOLE   19,247 0 0
Foamix Pharmaceuticals Ltd. SHS M46135105 14,616 2,241,702 SH   SOLE   2,241,702 0 0
Foundation Medicine, Inc. COM 350465100 380 20,892 SH   SOLE   20,892 0 0
Galapagos NV SPONSORED ADR 36315X101 12,688 303,394 SH   SOLE   303,394 0 0
Genomic Health, Inc. COM 37244C101 338,354 13,659,832 SH   SOLE   13,659,832 0 0
Global Blood Therapeutics, Inc. COM 37890U108 9,516 600,000 SH   SOLE   600,000 0 0
GW Pharmaceuticals plc ADS 36197T103 1,082 15,000 SH   SOLE   15,000 0 0
Halozyme Therapeutics, Inc. COM 40637H109 18,287 1,931,057 SH   SOLE   1,931,057 0 0
Heron Therapeutics, Inc. COM 427746102 55,219 2,907,784 SH   SOLE   2,907,784 0 0
Idera Pharmaceuticals, Inc. COM NEW 45168K306 13,841 6,990,189 SH   SOLE   6,990,189 0 0
Ignyta, Inc. COM 451731103 3,866 571,000 SH   SOLE   571,000 0 0
Immune Design Corp. COM 45252L103 1,936 148,937 SH   SOLE   148,937 0 0
ImmunoGen, Inc. COM 45253H101 37,935 4,452,445 SH   SOLE   4,452,445 0 0
Incyte Corporation COM 45337C102 1,702,933 23,498,460 SH   SOLE   23,498,460 0 0
Insmed Incorporated COM PAR $.01 457669307 19,005 1,500,000 SH   SOLE   1,500,000 0 0
Intra-Cellular Therapies, Inc. COM 46116X101 16,935 609,166 SH   SOLE   609,166 0 0
Invitae Corporation COM 46185L103 67,057 6,554,967 SH   SOLE   6,554,967 0 0
InVivo Therapeutics Holdings Corp. COM NEW 46186M209 2,792 400,000 SH   SOLE   400,000 0 0
Ironwood Pharmaceuticals, Inc. COM CL A 46333X108 1,851 169,163 SH   SOLE   169,163 0 0
Ionis Pharmaceuticals, Inc. COM 462222100 2,314 57,140 SH   SOLE   57,140 0 0
Juno Therapeutics, Inc. COM 48205A109 3,047 80,000 SH   SOLE   80,000 0 0
Karyopharm Therapeutics Inc. COM 48576U106 1,936 216,990 SH   SOLE   216,990 0 0
La Jolla Pharmaceutical Company COM PAR $.0001 2 503459604 287 13,746 SH   SOLE   13,746 0 0
Ligand Pharmaceuticals Incorporated COM NEW 53220K504 7,859 73,386 SH   SOLE   73,386 0 0
Lion Biotechnologies, Inc. COM 53619R102 5,417 1,066,285 SH   SOLE   1,066,285 0 0
Loxo Oncology, Inc. COM 548862101 3,766 137,735 SH   SOLE   137,735 0 0
MacroGenics, Inc. COM 556099109 6,819 363,676 SH   SOLE   363,676 0 0
Mast Therapeutics, Inc. COM 576314108 1,309 4,797,442 SH   SOLE   4,797,442 0 0
Medivation, Inc. COM 58501N101 15,168 329,876 SH   SOLE   329,876 0 0
Medgenics Inc. COM NEW 58436Q203 3,366 765,000 SH   SOLE   765,000 0 0
MediWound Ltd. ORD SHS M68830104 1,824 226,000 SH   SOLE   226,000 0 0
Mirati Therapeutics, Inc. COM 60468T105 69,947 3,268,556 SH   SOLE   3,268,556 0 0
Nabriva Therapeutics AG SPONSORED ADR 62957M104 3,136 350,000 SH   SOLE   350,000 0 0
Natera, Inc. COM 632307104 4,284 450,000 SH   SOLE   450,000 0 0
Neurocrine Biosciences, Inc. COM 64125C109 35,414 895,422 SH   SOLE   895,422 0 0
NeuroDerm Ltd. ORD SHS M74231107 4,307 305,000 SH   SOLE   305,000 0 0
Novavax, Inc. COM 670002104 12,277 2,379,254 SH   SOLE   2,379,254 0 0
Omeros Corporation COM 682143102 11,493 749,250 SH   SOLE   749,250 0 0
Ophthotech Corporation COM 683745103 1,507 35,649 SH   SOLE   35,649 0 0
Osiris Therapeutics, Inc. COM 68827R108 2,850 499,193 SH   SOLE   499,193 0 0
Palatin Technologies, Inc. COM PAR $.01 696077403 1,107 2,050,000 SH   SOLE   2,050,000 0 0
Progenics Pharmaceuticals, Inc. COM 743187106 18,970 4,350,808 SH   SOLE   4,350,808 0 0
ProNai Therapeutics, Inc. COM 74346L101 1,348 200,000 SH   SOLE   200,000 0 0
ProQR Therapeutics N.V. SHS EURO N71542109 6,587 1,349,719 SH   SOLE   1,349,719 0 0
Proteon Therapeutics Inc. COM 74371L109 2,311 298,591 SH   SOLE   298,591 0 0
Ritter Pharmaceuticals, Inc. COM 767836109 452 400,000 SH   SOLE   400,000 0 0
Sage Therapeutics, Inc. COM 78667J108 7,183 224,048 SH   SOLE   224,048 0 0
Sangamo BioSciences, Inc. COM 800677106 24,538 4,055,876 SH   SOLE   4,055,876 0 0
Seattle Genetics, Inc. COM 812578102 1,517,126 43,235,267 SH   SOLE   43,235,267 0 0
Seres Therapeutics, Inc. COM 81750R102 3,320 125,000 SH   SOLE   125,000 0 0
Spark Therapeutics, Inc. COM 84652J103 37,253 1,262,382 SH   SOLE   1,262,382 0 0
Stemline Therapeutics, Inc. COM 85858C107 1,554 333,497 SH   SOLE   333,497 0 0
Sunesis Pharmaceuticals, Inc. COM NEW 867328601 2,403 4,450,000 SH   SOLE   4,450,000 0 0
Arbutus Biopharma Corporation COM 03879J100 746 180,582 SH   SOLE   180,582 0 0
Tenax Therapeutics, Inc. COM 88032L100 861 420,000 SH   SOLE   420,000 0 0
TG Therapeutics, Inc. COM 88322Q108 17,074 2,003,991 SH   SOLE   2,003,991 0 0
Trevena, Inc. COM 89532E109 3,722 450,000 SH   SOLE   450,000 0 0
Trillium Therapeutics Inc. COM NEW 89620X506 1,959 211,792 SH   SOLE   211,792 0 0
Ultragenyx Pharmaceutical Inc. COM 90400D108 7,844 123,894 SH   SOLE   123,894 0 0
uniQure N.V. SHS N90064101 2,732 230,000 SH   SOLE   230,000 0 0
Versartis, Inc. COM 92529L102 25,660 3,199,559 SH   SOLE   3,199,559 0 0
Vitae Pharmaceuticals, Inc. COM 92847N103 4,227 637,597 SH   SOLE   637,597 0 0
Xencor, Inc. COM 98401F105 11,703 872,072 SH   SOLE   872,072 0 0
XenoPort, Inc. COM 98411C100 15,675 3,475,672 SH   SOLE   3,475,672 0 0
Zogenix, Inc. COM NEW 98978L204 9,240 1,000,000 SH   SOLE   1,000,000 0 0
Acorda Therapeutics, Inc. Notes 1.75% 6/15/2021 NOTE 1.75% 6/15/2021 00484MAA4 68,456 77,083,000 PRN   SOLE   77,083,000 0 0
Anacor Pharmaceuticals Inc. 2.0% 15 OCT 2021 NOTE 2.0% 10/15/2021 032420AC5 75,337 42,000,000 PRN   SOLE   42,000,000 0 0
Aegerion Pharmaceuticals, Inc. Notes 2.0% 8/15/2019 NOTE 2.0% 8/15/2019 00767EAB8 13,526 26,517,000 PRN   SOLE   26,517,000 0 0
Array BioPharma Inc. Notes 3.0% 6/1/2020 NOTE 3.0% 6/1/2020 04269XAA3 2,382 3,000,000 PRN   SOLE   3,000,000 0 0
BioMarin Pharmaceutical Inc. Notes 1.875% 4/23/2017 NOTE 1.875% 4/23/2017 09061GAD3 89,825 22,379,000 PRN   SOLE   22,379,000 0 0
BioMarin Pharmaceutical Inc. Notes 0.75% 10/15/2018 NOTE 0.75% 10/15/2018 09061GAE1 14,125 12,228,000 PRN   SOLE   12,228,000 0 0
Clovis Oncology Inc. 2.5% 9/15/2021 NOTE 2.5% 9/15/2021 189464AB6 87,801 129,300,000 PRN   SOLE   129,300,000 0 0
Corsicanto Ltd. 3.5% 1/15/2032 NOTE 3.5% 1/15/2032 220480AB3 12,103 15,000,000 PRN   SOLE   15,000,000 0 0
Exelixis, Inc. Notes 4.25% 8/15/2019 NOTE 4.25% 8/15/2019 30161QAC8 19,775 20,000,000 PRN   SOLE   20,000,000 0 0
Gilead Sciences, Inc. 1.625% 5/1/16 NOTE 1.625% 5/1/2016 375558AP8 85,863 20,944,000 PRN   SOLE   20,944,000 0 0
Incyte Corporation Notes 0.375% 11/15/2018 144A NOTE 0.375% 11/15/2018 45337CAK8 397,943 259,000,000 PRN   SOLE   259,000,000 0 0
Incyte Corporation Notes 1.25% 11/15/2020 144A NOTE 1.25% 11/15/2020 45337CAL6 432,150 274,500,000 PRN   SOLE   274,500,000 0 0
Protalix BioTherapeutics, Inc. Notes 4.5% 9/15/18 NOTE 4.5% 9/15/2018 74365AAB7 2,334 3,423,000 PRN   SOLE   3,423,000 0 0
Xenoport, Inc. Notes 2.5% 2/1/2022 NOTE 2.5% 2/1/2022 98411CAB6 73,436 100,000,000 PRN   SOLE   100,000,000 0 0