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MORGAN STANLEY
> EPCT
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 12/31/2009 | IMMUNE PHARMACEUTICALS INC | EPCT | 15,000 | 0 | 9,000 | -4,000 | $0.60 |
| 09/30/2009 | IMMUNE PHARMACEUTICALS INC | EPCT | 15,000 | 0 | 13,000 | 1,000 | $0.87 |
| 06/30/2009 | IMMUNE PHARMACEUTICALS INC | EPCT | 15,000 | 0 | 12,000 | 3,000 | $0.80 |
| 03/31/2009 | IMMUNE PHARMACEUTICALS INC | EPCT | 15,000 | -6,600 | 9,000 | -5,000 | $0.60 |
| 12/31/2008 | IMMUNE PHARMACEUTICALS INC | EPCT | 21,600 | 6,600 | 14,000 | 0 | $0.65 |
| 09/30/2008 | IMMUNE PHARMACEUTICALS INC | EPCT | 15,000 | -8 | 14,000 | 10,000 | $0.93 |
| 06/30/2008 | IMMUNE PHARMACEUTICALS INC | EPCT | 15,008 | -3,500 | 4,000 | -19,000 | $0.27 |
| 12/31/2007 | IMMUNE PHARMACEUTICALS INC | EPCT | 18,508 | 18,508 | 23,000 | 23,000 | $1.24 |
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