Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
FOLD	AMICUS THERAPEUTICS	1,404,667	$19.65M	11.4%	$7.19	+118.0%	COM	03152W109
EXEL	EXELIXIS	1,880,004	$10.55M	6.1%	$5.44	0.0%	COM	30161Q104
—	NEURODERM LTD	496,630	$10.27M	5.9%	$17.06	—	ORD SHS	M74231107
ASND	ASCENDIS PHARMA A S	469,893	$8.317M	4.8%	$17.52	—	SPONS ADR	04351P101
IWM	ISHARES TR	70,000	$7.645M	4.4%	—	—	Put	464287655
—	LION BIOTECHNOLOGIES	1,314,959	$7.574M	4.4%	$9.55	—	COM	53619R102
—	BIOTELEMETRY	450,000	$5.508M	3.2%	$9.87	—	COM	090672106
—	CYNAPSUS THERAPEUTICS INC	313,524	$5.07M	2.9%	$16.24	—	COM PAR NO PAR	23257Y859
XBI	SPDR SERIES TRUST	70,000	$4.357M	2.5%	—	—	Put	78464A870
LXRX	LEXICON PHARMACEUTICALS	400,000	$4.296M	2.5%	$10.92	0.0%	COM	528872302
VCYT	VERACYTE	905,000	$4.244M	2.5%	$9.81	-2.9%	COM	92337F107
—	RR MEDIA LTD	469,350	$3.849M	2.2%	$7.33	—	SHS	M8183P102
—	PERNIX THERAPEUTICS HLDGS	1,108,719	$3.504M	2.0%	$3.16	—	COM	71426V108
—	INNOCOLL AG	273,981	$3.43M	2.0%	$9.13	—	SPONS ADR	45780Q103
—	LA JOLLA PHARMACEUTICAL CO	122,222	$3.397M	2.0%	$27.79	—	COM PAR $.0001 2	503459604
—	NABRIVA THERAPEUTICS AG	351,261	$3.337M	1.9%	$9.50	—	SPONS ADR	62957M104
—	CAS MED SYS INC	2,547,299	$3.184M	1.8%	$1.39	—	COM PAR $0.004	124769209
—	WEBMD HEALTH	79,702	$3.175M	1.8%	$39.84	—	COM	94770V102
BCRX	BIOCRYST PHARMACEUTICALS	271,399	$3.094M	1.8%	$13.34	0.0%	COM	09058V103
—	SPECTRANETICS CORP	260,000	$3.065M	1.8%	$22.58	—	COM	84760C107
IRIX	IRIDEX	397,196	$3.023M	1.8%	$8.16	-11.8%	COM	462684101
—	SPECTRANETICS CORP	4,000,000	$3.02M	1.7%	$0.76	—	MTNF 2.625% 6/0	84760CAA5
—	IMMUNOMEDICS	1,711,067	$2.943M	1.7%	$1.72	—	COM	452907108
—	APPLIED GENETIC TECHNOL	221,138	$2.906M	1.7%	$15.34	—	COM	03820J100
BBW	BUILD A BEAR WORKSHOP	152,876	$2.888M	1.7%	$15.58	+2.7%	COM	120076104
—	SAGENT PHARMACEUTICALS	182,618	$2.8M	1.6%	$16.71	—	COM	786692103
SRNE	SORRENTO THERAPEUTICS	300,000	$2.517M	1.5%	$13.75	+15.9%	COM	83587F202
—	OXFORD IMMUNOTEC GLOBAL PLC	184,746	$2.494M	1.4%	$14.08	—	ORD SHS	G6855A103
—	AGENUS	510,000	$2.346M	1.4%	$8.11	—	COM	00847G705
—	ARRAY BIOPHARMA	480,020	$2.189M	1.3%	$4.56	—	COM	04269X105
—	ALIMERA SCIENCES	974,318	$2.153M	1.2%	$5.54	—	SHS	016259103
—	AXOVANT SCIENCES	140,000	$1.809M	1.0%	$20.38	—	COM	G0750W104
—	EPIZYME	140,000	$1.8M	1.0%	$12.86	—	COM	29428V104
—	ESSA PHARMA INC	288,400	$1.797M	1.0%	$6.23	—	COM	29668H104
—	ZAFGEN	51,519	$1.646M	1.0%	$30.84	—	COM	98885E103
—	CARROLS RESTAURANT GROUP	128,643	$1.531M	0.9%	$11.90	—	COM	14574X104
—	CUTERA	116,921	$1.529M	0.9%	$14.62	—	COM	232109108
—	CLOVIS ONCOLOGY INC	15,000	$1.379M	0.8%	—	—	Call	189464100
—	BIODELIVERY SCIENCES INTL	212,100	$1.179M	0.7%	$5.56	—	COM	09060J106
—	BIODEL	2,548,830	$1.121M	0.6%	$1.03	—	COM	09064M204
AUPH	AURINIA PHARMACEUTICALS	377,427	$1.072M	0.6%	$3.92	-12.6%	COM	05156V102
—	FLEX PHARMA	88,716	$1.065M	0.6%	$19.60	—	COM	33938A105
SRPT	SAREPTA THERAPEUTICS	31,744	$1.019M	0.6%	$33.93	0.0%	COM	803607100
—	COMBIMATRIX CORPORATION	893,644	$1.001M	0.6%	$1.31	—	COM	20009T303
—	AGILE THERAPEUTICS	141,309	$952K	0.6%	$8.81	—	COM	00847L100
EWA	ISHARES	50,000	$896K	0.5%	—	—	Put	464286103
—	CELLADON	819,710	$861K	0.5%	$1.05	—	COM	15117E107
—	CARDIOME PHARMA	92,397	$780K	0.5%	$8.44	—	COM NO PAR	14159U301
—	CIDARA THERAPEUTICS	59,127	$752K	0.4%	$14.02	—	COM	171757107
—	CARDICA	1,849,436	$499K	0.3%	$0.68	—	COM	14141R101
—	RIGEL PHARMACEUTICALS	200,000	$494K	0.3%	$2.47	—	COM	766559603
—	HISTOGENICS	123,249	$491K	0.3%	$11.00	—	COM	43358V109
—	ABEONA THERAPEUTICS	111,342	$451K	0.3%	$4.05	—	COM	00289Y107
—	CEMPRA	15,000	$418K	0.2%	$34.31	—	COM	15130J109
—	ORGANOVO HLDGS INC	120,000	$322K	0.2%	—	—	Put	68620A104
—	ZOSANO PHARMA	73,826	$292K	0.2%	$7.97	—	COM	98979H103
—	ARROWHEAD RESH CORP	50,000	$288K	0.2%	—	—	Put	042797209
—	KINDRED BIOSCIENCES	50,000	$260K	0.2%	$7.45	—	COM	494577109
—	ACCELERATE DIAGNOSTICS INC	15,000	$243K	0.1%	—	—	Put	00430H102