Sabby Management 13F-HR Quarterly holdings report by institutional manager

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
Expires:	Oct 31, 2018
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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	00287Y909	60,337	10,307	SH	Call	DFND	1	0	10,307	0
ABBVIE INC	COM	00287Y959	11,029	1,884	SH	Put	DFND	1	0	1,884	0
ACADIA PHARMACEUTICALS INC	COM	00404A109	296	9,074	SH		DFND	1	0	9,074	0
ACADIA PHARMACEUTICALS INC	COM	00404A909	1,297	398	SH	Call	DFND	1	0	398	0
ACADIA PHARMACEUTICALS INC	COM	00404A959	2,373	728	SH	Put	DFND	1	0	728	0
ACELRX PHARMACEUTICALS INC	COM	00444T100	806	208,928	SH		DFND	1	0	208,928	0
ACELRX PHARMACEUTICALS INC	COM	00444T900	585	1,516	SH	Call	DFND	1	0	1,516	0
ACELRX PHARMACEUTICALS INC	COM	00444T950	120	310	SH	Put	DFND	1	0	310	0
ACHILLION PHARMACEUTICALS INC	COM	00448Q201	1,121	113,704	SH		DFND	1	0	113,704	0
ACHILLION PHARMACEUTICALS INC	COM	00448Q901	5,363	5,439	SH	Call	DFND	1	0	5,439	0
ACTAVIS PLC	SHS	G0083B108	33,800	113,566	SH		DFND	1	0	113,566	0
ACTAVIS PLC	SHS	G0083B908	35,863	1,205	SH	Call	DFND	1	0	1,205	0
ACTAVIS PLC	SHS	G0083B958	15,030	505	SH	Put	DFND	1	0	505	0
AGILENT TECHNOLOGIES INC	COM	00846U909	1,367	329	SH	Call	DFND	1	0	329	0
AGILENT TECHNOLOGIES INC	COM	00846U959	2,244	540	SH	Put	DFND	1	0	540	0
AGIOS PHARMACEUTICALS INC	COM	00847X104	298	3,163	SH		DFND	1	0	3,163	0
AGIOS PHARMACEUTICALS INC	COM	00847X904	2,291	243	SH	Call	DFND	1	0	243	0
AGIOS PHARMACEUTICALS INC	COM	00847X954	585	62	SH	Put	DFND	1	0	62	0
ALDER BIOPHARMACEUTICALS ORD SHS	COM	014339105	1,351	46,800	SH		DFND	1	0	46,800	0
ALKERMES PLC	SHS	G01767905	622	102	SH	Call	DFND	1	0	102	0
ALKERMES PLC	SHS	G01767955	2,957	485	SH	Put	DFND	1	0	485	0
ALNYLAM PHARMACEUTICALS INC	COM	02043Q907	33,926	3,249	SH	Call	DFND	1	0	3,249	0
AMICUS THERAPEUTICS INC	COM	03152W909	1,941	1,784	SH	Call	DFND	1	0	1,784	0
AMICUS THERAPEUTICS INC	COM	03152W959	1,796	1,651	SH	Put	DFND	1	0	1,651	0
APPLIED DNA SCIENCES	COM	03815U201	1,284	495,700	SH		DFND	1	0	495,700	0
APPLIED DNA SCIENCES EQUITY WARRANTS	*W	03815U110	190	186,095	SH		DFND	1	0	186,095	0
APPLIED GENETIC TECHNOLOGIES CORP	COM	03820J100	2,999	150,000	SH		DFND	1	0	150,000	0
APRICUS BIOSCIENCES INC	COM	03832V959	57	338	SH	Put	DFND	1	0	338	0
ARCA BIOPHARMA ORD SHS	COM	00211Y209	112	140,317	SH		DFND	1	0	140,317	0
ARDELYX INC	COM	039697107	1,468	112,174	SH		DFND	1	0	112,174	0
ARIAD PHARMACEUTICALS INC	COM	04033A100	1,432	173,752	SH		DFND	1	0	173,752	0
ARIAD PHARMACEUTICALS INC	COM	04033A950	1,318	1,599	SH	Put	DFND	1	0	1,599	0
ARROWHEAD RESEARCH CORP	COM	042797209	502	74,204	SH		DFND	1	0	74,204	0
ARROWHEAD RESEARCH CORP	COM	042797909	2,065	3,053	SH	Call	DFND	1	0	3,053	0
ARROWHEAD RESEARCH CORP	COM	042797959	2,434	3,598	SH	Put	DFND	1	0	3,598	0
ASCENDIS PHARMA A S	ADR	04351P101	3,366	194,023	SH		DFND	1	0	194,023	0
ATHERSYS INC	COM	04744L906	99	345	SH	Call	DFND	1	0	345	0
ATHERSYS INC	COM	04744L956	823	2,857	SH	Put	DFND	1	0	2,857	0
AVALANCHE BIOTECHNOLOGIES INC	COM	05337G907	328	81	SH	Call	DFND	1	0	81	0
AVALANCHE BIOTECHNOLOGIES INC	COM	05337G107	2,226	54,943	SH		DFND	1	0	54,943	0
AXOGEN ORD SHS	COM	05463X106	1,113	318,136	SH		DFND	1	0	318,136	0
BELLEROPHON THERAPEUTICS INC	COM	078771102	275	30,000	SH		DFND	1	0	30,000	0
BELLICUM PHARMACEUTICALS INC	COM	079481107	5,364	231,515	SH		DFND		0	231,515	0
BIOCRYST PHARMACEUTICALS INC	COM	09058V903	952	1,054	SH	Call	DFND	1	0	1,054	0
BIOCRYST PHARMACEUTICALS INC	COM	09058V953	323	358	SH	Put	DFND	1	0	358	0
BIODEL INC	COM	09064M204	259	217,500	SH		DFND	1	0	217,500	0
BIODEL INC	COM	09064M954	22	182	SH	Put	DFND	1	0	182	0
BIODELIVERY SCIENCES INTERNATIONAL INC	COM	09060J106	392	37,300	SH		DFND	1	0	37,300	0
BIODELIVERY SCIENCES INTERNATIONAL INC	COM	09060J906	3,310	3,152	SH	Call	DFND	1	0	3,152	0
BIODELIVERY SCIENCES INTERNATIONAL INC	COM	09060J956	1,034	985	SH	Put	DFND	1	0	985	0
BIOGEN IDEC INC	COM	09062X903	130,979	3,102	SH	Call	DFND	1	0	3,102	0
BIOGEN IDEC INC	COM	09062X953	21,703	514	SH	Put	DFND	1	0	514	0
BIOLASE TECHNOLOGY	COM	090911108	760	376,000	SH		DFND	1	0	376,000	0
BIOLINERX LTD	ADR	09071M106	1,571	744,401	SH		DFND	1	0	744,401	0
BIOMARIN PHARMACEUTICAL 0.75%	NOTE	09061GAE1	7,441	5,000,000	PRN		DFND	1	0	5,000,000	0
BIOMARIN PHARMACEUTICAL INC	COM	09061G901	26,930	2,161	SH	Call	DFND	1	0	2,161	0
BIOMARIN PHARMACEUTICAL INC	COM	09061G951	6,343	509	SH	Put	DFND	1	0	509	0
BLUEBIRD BIO INC	COM	09609G900	36,183	2,996	SH	Call	DFND	1	0	2,996	0
BLUEBIRD BIO INC	COM	09609G950	4,915	407	SH	Put	DFND	1	0	407	0
BRAINSTORM CELL THERAPEUTICS INC	COM	10501E201	6,272	1,409,537	SH		DFND	1	0	1,409,537	0
BRISTOL MYERS SQUIBB CO.	COM	110122908	61,101	9,473	SH	Call	DFND	1	0	9,473	0
CARDICA ORD SHS	COM	14141R101	2,433	3,863,723	SH		DFND	1	0	3,863,723	0
CASI PHARMACEUTICALS	COM	1475U109	931	633,590	SH		DFND	1	0	633,590	0
CASTLIGHT HEALTH INC	CL B	14862Q100	1,689	217,600	SH		DFND	1	0	217,600	0
CASTLIGHT HEALTH INC	CL B	14862Q900	841	1,084	SH	Call	DFND	1	0	1,084	0
CEL SCI CORP	*W	150837177	840	2,624,375	SH		DFND	1	0	2,624,375	0
CELGENE CORP	COM	151020954	5,510	478	SH	Put	DFND	1	0	478	0
CELGENE CORP	COM	151020104	2,562	22,225	SH		DFND	1	0	22,225	0
CELLADON CORP	COM	15117E907	205	108	SH	Call	DFND	1	0	108	0
CELLADON CORP	COM	15117E907	4,316	2,279	SH	Call	DFND	1	0	2,279	0
CELLDEX THERAPEUTICS INC	COM	15117B903	11,365	4,078	SH	Call	DFND	1	0	4,078	0
CELLDEX THERAPEUTICS INC	COM	15117B953	4,311	1,547	SH	Put	DFND	1	0	1,547	0
CELLECTAR BIOSCIENCES INC	COM	15117F203	2,015	647,930	SH		DFND	1	0	647,930	0
CELLECTAR BIOSCIENCES INC	*W	15117F112	515	660,685	SH		DFND	1	0	660,685	0
CELLECTIS S A	ADR	15117K103	785	22,700	SH		DFND	1	0	22,700	0
CELSION CORPORATION	COM	15117N404	616	230,699	SH		DFND	1	0	230,699	0
CELSION CORPORATION	COM	15117N954	146	546	SH	Put	DFND	1	0	546	0
CEMPRA INC	COM	15130J109	6,876	200,400	SH		DFND	1	0	200,400	0
CEMPRA INC	COM	15130J909	1,321	385	SH	Call	DFND	1	0	385	0
CEMPRA INC	COM	15130J959	1,774	517	SH	Put	DFND	1	0	517	0
CERNER CORP	COM	156782904	3,927	536	SH	Call	DFND	1	0	536	0
CERNER CORP	COM	156782954	3,656	499	SH	Put	DFND	1	0	499	0
CERUS ORD SHS	COM	157085101	417	100,000	SH		DFND	1	0	100,000	0
CESCA THERAPEUTICS INC	COM	157131103	3,593	3,992,662	SH		DFND	1	0	3,992,662	0
COLLABRX INC	COM	19422J108	981	900,000	SH		DFND	1	0	900,000	0
COMMUNITY HEALTH SYSTEMS INC	COM	203668908	4,439	849	SH	Call	DFND	1	0	849	0
COMMUNITY HEALTH SYSTEMS INC	COM	203668958	14,027	2,683	SH	Put	DFND	1	0	2,683	0
COMMUNITY HEALTH SYSTEMS INC	COM	203668108	1,441	27,569	SH		DFND	1	0	27,569	0
CONATUS PHARMACEUTICALS INC	COM	20600T908	140	197	SH	Call	DFND	1	0	197	0
CTI BIOPHARMA CORP	COM	12648L906	1,040	5,747	SH	Call	DFND	1	0	5,747	0
CTI BIOPHARMA CORP	COM	12648L106	600	331,627	SH		DFND	1	0	331,627	0
CYCLACEL PHARMACEUTICALS	COM	23254L306	2,485	2,760,717	SH		DFND	1	0	2,760,717	0
CYMABAY THERAPEUTICS	COM	23257D103	692	100,000	SH		DFND	1	0	100,000	0
CYTORI THERAPEUTICS INC	COM	23283K955	31	265	SH	Put	DFND	1	0	265	0
CYTOSORBENTS CORP	COM	23283X956	222	168	SH	Put	DFND	1	0	168	0
CYTRX CORP	COM	232828959	57	170	SH	Put	DFND	1	0	170	0
DANAHER CORP	COM	235851102	5,302	62,453	SH		DFND	1	0	62,453	0
DANAHER CORP	COM	235851902	8,490	1,000	SH	Call	DFND	1	0	1,000	0
DANAHER CORP	COM	235851952	8,490	1,000	SH	Put	DFND	1	0	1,000	0
DARA BIOSCIENCES	COM	23703P304	86	117,370	SH		DFND	1	0	117,370	0
DERMIRA INC	COM	24983L104	6,773	385,185	SH		DFND		0	385,185	0
DYAX CORP	COM	26746E903	3,917	2,338	SH	Call	DFND	1	0	2,338	0
DYAX CORP	COM	26746E953	757	452	SH	Put	DFND	1	0	452	0
EDAP TMS SA	ADR	268311957	906	2,687	SH	Put	DFND	1	0	2,687	0
ELI LILLY & CO	COM	532457908	72,367	9,961	SH	Call	DFND	1	0	9,961	0
ELI LILLY & CO	COM	532457958	1,162	160	SH	Put	DFND	1	0	160	0
ENDO INTERNATIONAL PLC	SHS	G30401106	2,331	25,991	SH		DFND	1	0	25,991	0
ENDO INTERNATIONAL PLC	SHS	G30401906	5,391	601	SH	Call	DFND	1	0	601	0
EPIZYME INC	COM	29428V104	2,095	111,536	SH		DFND	1	0	111,536	0
ESPERION THERAPEUTICS INC	COM	29664W105	463	5,000	SH		DFND	1	0	5,000	0
EXELIXIS INC 4.25%	NOTE	30161QAC8	3,426	4,500,000	PRN		DFND	1	0	4,500,000	0
EXELIXIS INC	COM	30161Q904	1,110	4,319	SH	Call	DFND	1	0	4,319	0
EXELIXIS INC	COM	30161Q954	57	220	SH	Put	DFND	1	0	220	0
FIBROGEN INC	COM	31572Q808	1,205	38,399	SH		DFND	1	0	38,399	0
FOAMIX PHARMACEUTICALS	SHS	M46135105	142	15,300	SH		DFND	1	0	15,300	0
FORWARD PHARMA A/S	ADR	34986J105	2,550	90,060	SH		DFND	1	0	90,060	0
GALENA BIOPHARMA INC	COM	363256108	4,777	3,436,456	SH		DFND	1	0	3,436,456	0
GALENA BIOPHARMA INC	COM	363256958	941	6,772	SH	Put	DFND	1	0	6,772	0
GENOCEA BIOSCIENCES INC	COM	372427104	1,186	100,000	SH		DFND	1	0	100,000	0
GILEAD SCIENCES INC	COM	375558903	97,806	9,967	SH	Call	DFND	1	0	9,967	0
GILEAD SCIENCES INC	COM	375558953	17,977	1,832	SH	Put	DFND	1	0	1,832	0
GREAT BASIN SCIENTIFIC INC	UNIT	39013L205	8,374	624,900	SH		DFND	1	0	624,900	0
GW PHARMACEUTICALS PLC	ADS	36197T103	4,809	52,776	SH		DFND	1	0	52,776	0
GW PHARMACEUTICALS PLC	ADS	36197T903	911	100	SH	Call	DFND	1	0	100	0
GW PHARMACEUTICALS PLC	ADS	36197T953	17,524	1,923	SH	Put	DFND	1	0	1,923	0
HALOZYME THERAPEUTICS INC	COM	40637H109	2,736	191,621	SH		DFND	1	0	191,621	0
HALOZYME THERAPEUTICS INC	COM	40637H909	5,001	3,502	SH	Call	DFND	1	0	3,502	0
HALOZYME THERAPEUTICS INC	COM	40637H959	288	202	SH	Put	DFND	1	0	202	0
HCA HOLDINGS INC	COM	40412C901	7,049	937	SH	Call	DFND	1	0	937	0
HEARTWARE INTERNATIONAL INC	COM	422368950	1,167	133	SH	Put	DFND	1	0	133	0
HEAT BIOLOGICS INC	COM	42237K102	1,239	194,848	SH		DFND	1	0	194,848	0
HERON THERAPEUTICS INC	COM	427746902	4,889	3,360	SH	Call	DFND	1	0	3,360	0
HISTOGENICS CORP	COM	43358V109	275	27,505	SH		DFND	1	0	27,505	0
HORIZON PHARMA PLC	SHS	G4617B905	6,308	2,429	SH	Call	DFND	1	0	2,429	0
IDERA PHARMACEUTICALS INC	COM	45168K306	438	118,000	SH		DFND	1	0	118,000	0
IDERA PHARMACEUTICALS INC	COM	45168K956	675	1,820	SH	Put	DFND	1	0	1,820	0
IGNYTA ORD SHS	COM	451731103	2,577	259,032	SH		DFND	1	0	259,032	0
IMMUNOCELLULAR THERAPEUTICS INC	COM	452536105	2,856	5,889,021	SH		DFND	1	0	5,889,021	0
IMMUNOMEDICS INC	COM	452907108	528	137,751	SH		DFND	1	0	137,751	0
INCYTE CORP	COM	45337C902	1,842	201	SH	Call	DFND	1	0	201	0
INCYTE CORP	COM	45337C952	4,381	478	SH	Put	DFND	1	0	478	0
INFINITY PHARMACEUTICALS INC	COM	45665G903	3,703	2,649	SH	Call	DFND	1	0	2,649	0
INFINITY PHARMACEUTICALS INC	COM	45665G953	419	300	SH	Put	DFND	1	0	300	0
INSMED INC	COM	457669907	678	326	SH	Call	DFND	1	0	326	0
INSPIREMD INC	COM	45779A309	1,079	3,372,127	SH		DFND	1	0	3,372,127	0
INTELLIPHARMACEUTICS INTERNATIONAL INC	COM	458173101	56	19,900	SH		DFND	1	0	19,900	0
INTELLIPHARMACEUTICS INTERNATIONAL INC	COM	458173951	413	1,418	SH	Put	DFND	1	0	1,418	0
INTERCEPT PHARMACEUTICALS INC	COM	45845P908	23,774	843	SH	Call	DFND	1	0	843	0
INTERCEPT PHARMACEUTICALS INC	COM	45845P958	1,861	66	SH	Put	DFND	1	0	66	0
INTEROIL CORP	COM	460951106	9,363	202,932	SH		DFND	1	0	202,932	0
INTEROIL CORP	COM	460951956	14,110	3,058	SH	Put	DFND	1	0	3,058	0
INTRA CELLULAR THERAPIES INC	COM	46116X101	2,388	100,000	SH		DFND	1	0	100,000	0
INTREXON CORP	COM	46122T952	408	90	SH	Put	DFND	1	0	90	0
ISHARES 20+ YR TR	ETF	464287432	7,230	55,320	SH		DFND	1	0	55,320	0
ISHARES 20+ YR TR	ETF	464287952	14,311	1,095	SH	Put	DFND	1	0	1,095	0
ISHARES RUSSELL 2000 ETF	ETF	464287655	24,707	198,690	SH		DFND	1	0	198,690	0
ISHARES RUSSELL 2000 ETF	ETF	464287955	226,939	18,250	SH	Put	DFND	1	0	18,250	0
ISIS PHARMACEUTICALS INC	COM	464330909	11,441	1,797	SH	Call	DFND	1	0	1,797	0
ISIS PHARMACEUTICALS INC	COM	464330959	414	65	SH	Put	DFND	1	0	65	0
KERYX BIOPHARMACEUTICALS INC	COM	492515101	188	14,758	SH		DFND	1	0	14,758	0
KERYX BIOPHARMACEUTICALS INC	COM	492515951	293	230	SH	Put	DFND	1	0	230	0
KITE PHARMA INC	COM	49803L959	565	98	SH	Put	DFND	1	0	98	0
KYTHERA BIOPHARMACEUTICALS INC	COM	501570955	943	188	SH	Put	DFND	1	0	188	0
LEXICON PHARMACEUTICALS INC.	COM	528872104	5,073	5,371,800	SH		DFND	1	0	5,371,800	0
LION BIOTECHNOLOGIES INC	COM	53619R102	4,544	375,234	SH		DFND	1	0	375,234	0
LPATH INC.	COM	548910306	2,321	939,690	SH		DFND	1	0	939,690	0
MALLINCKRODT PUB LTD	SHS	G5785G107	922	7,280	SH		DFND	1	0	7,280	0
MALLINCKRODT PUB LTD	SHS	G5785G957	4,078	322	SH	Put	DFND	1	0	322	0
MANNKIND CORP	COM	56400P201	6,570	1,263,452	SH		DFND	1	0	1,263,452	0
MANNKIND CORP	COM	56400P901	7,283	14,005	SH	Call	DFND	1	0	14,005	0
MANNKIND CORP	COM	56400P951	11,987	23,051	SH	Put	DFND	1	0	23,051	0
MEDICINES CO	COM	584688905	611	218	SH	Call	DFND	1	0	218	0
MEDICINES CO	COM	584688955	2,068	738	SH	Put	DFND	1	0	738	0
MEDICINES CO 1.375%	DBCV	584688AC9	16,851	14,213,000	PRN		DFND	1	0	14,213,000	0
MEI PHARMA INC.	COM	55279B202	531	296,491	SH		DFND	1	0	296,491	0
MEI PHARMA INC.	COM	55279B902	252	1,409	SH	Call	DFND	1	0	1,409	0
MELA SCIENCES ORD SHS	COM	55277R308	882	343,150	SH		DFND	1	0	343,150	0
MERCK & CO INC	COM	58933Y105	9,237	160,704	SH		DFND	1	0	160,704	0
MERCK & CO INC	COM	58933Y905	98,797	17,188	SH	Call	DFND	1	0	17,188	0
MERCK & CO INC	COM	58933Y955	34,252	5,959	SH	Put	DFND	1	0	5,959	0
MOBILEYE N.V.	ORD SHS	N51488117	9,502	226,080	SH		DFND	1	0	226,080	0
MOBILEYE N.V.	ORD SHS	N51488907	551	131	SH	Call	DFND	1	0	131	0
MOBILEYE N.V.	ORD SHS	N51488957	23,688	5,636	SH	Put	DFND	1	0	5,636	0
MYLAN N.V.	SHS	N59465109	3,371	56,800	SH		DFND	1	0	56,800	0
MYLAN N.V.	SHS	N59465959	17,805	3,000	SH	Put	DFND	1	0	3,000	0
NANOSPHERE ORD SHS	COM	63009F105	383	1,652,344	SH		DFND	1	0	1,652,344	0
NEUROCRINE BIOSCIENCES INC	COM	64125C909	5,115	1,288	SH	Call	DFND	1	0	1,288	0
NEUROCRINE BIOSCIENCES INC	COM	64125C959	957	241	SH	Put	DFND	1	0	241	0
NEUROMETRIX INC	COM	641255302	699	411,034	SH		DFND	1	0	411,034	0
NEWLINK GENETICS CORP	COM	651511907	22,097	4,039	SH	Call	DFND	1	0	4,039	0
NEWLINK GENETICS CORP	COM	651511957	8,179	1,495	SH	Put	DFND	1	0	1,495	0
NORTHWEST BIOTHERAPEUTICS INC	COM	66737P950	2,616	3,552	SH	Put	DFND	1	0	3,552	0
NOVAVAX INC	COM	670002904	3,885	4,698	SH	Call	DFND	1	0	4,698	0
NOVAVAX INC	COM	670002954	5,147	6,224	SH	Put	DFND	1	0	6,224	0
NOVO NORDISK A/S	ADR	670100905	22,541	4,222	SH	Call	DFND	1	0	4,222	0
NUVASIVE INC	COM	670704905	616	134	SH	Call	DFND	1	0	134	0
NXSTAGE MEDICAL INC	COM	67072V903	2,946	1,703	SH	Call	DFND	1	0	1,703	0
OCERA THERAPEUTICS INC	COM	67552A108	1,670	354,574	SH		DFND	1	0	354,574	0
OCULUS INNOVATIVE SCIENCES INC	COM	67575P207	352	418,792	SH		DFND	1	0	418,792	0
OHR PHARMACEUTICAL INC	COM	67778H200	496	195,240	SH		DFND	1	0	195,240	0
OHR PHARMACEUTICAL INC	COM	67778H900	1,288	5,069	SH	Call	DFND	1	0	5,069	0
OHR PHARMACEUTICAL INC	COM	67778H950	498	1,962	SH	Put	DFND	1	0	1,962	0
OMEROS CORP	COM	682143902	4,468	2,028	SH	Call	DFND	1	0	2,028	0
OMEROS CORP	COM	682143952	264	120	SH	Put	DFND	1	0	120	0
ONCOTHYREON INC	COM	682324108	681	417,952	SH		DFND	1	0	417,952	0
OPKO HEALTH INC	COM	68375N103	2,516	177,551	SH		DFND	1	0	177,551	0
OPKO HEALTH INC	COM	68375N953	3,543	2,500	SH	Put	DFND	1	0	2,500	0
OVASCIENCE INC	COM	69014Q901	3,473	1,000	SH	Call	DFND	1	0	1,000	0
OVASCIENCE INC	COM	69014Q101	1,737	50,000	SH		DFND	1	0	50,000	0
OXIGENE INC	COM	69014Q101	2,956	2,024,736	SH		DFND	1	0	2,024,736	0
PERRIGO CO PLC	SHS	G97822903	6,456	390	SH	Call	DFND	1	0	390	0
PFIZER INC	COM	717081953	9,289	2,670	SH	Put	DFND	1	0	2,670	0
PFIZER INC	COM	717081903	63,774	18,331	SH	Call	DFND	1	0	18,331	0
PHARMACYCLICS INC	COM	716933906	4,761	186	SH	Call	DFND	1	0	186	0
PHARMACYCLICS INC	COM	716933956	256	10	SH	Put	DFND	1	0	10	0
PLASMATECH BIOPHARMACEUTICALS	*W	72754H117	838	986,175	SH		DFND	1	0	986,175	0
PLASMATECH BIOPHARMACEUTICALS	COM	72754H109	2,474	787,851	SH		DFND	1	0	787,851	0
PLURISTEM THERAPEUTICS INC	COM	72940R102	490	175,000	SH		DFND	1	0	175,000	0
PLURISTEM THERAPEUTICS INC	COM	72940R952	966	3,449	SH	Put	DFND	1	0	3,449	0
PROGENICS PHARMACEUTICALS INC	COM	743187106	3,704	619,400	SH		DFND	1	0	619,400	0
PROGENICS PHARMACEUTICALS INC	COM	743187956	2,009	3,359	SH	Put	DFND	1	0	3,359	0
PROQR THERAPEUTICS N.V.	SHS	N71542109	2,721	124,380	SH		DFND	1	0	124,380	0
PTC THERAPEUTICS INC	COM	69366J900	1,826	300	SH	Call	DFND	1	0	300	0
PUMA BIOTECHNOLOGY INC	COM	74587V107	2,135	9,044	SH		DFND	1	0	9,044	0
PUMA BIOTECHNOLOGY INC	COM	74587V907	1,960	83	SH	Call	DFND	1	0	83	0
PUMA BIOTECHNOLOGY INC	COM	74587V957	15,300	648	SH	Put	DFND	1	0	648	0
QUEST RESOURCE HOLDING INC	COM	74836W104	3,803	3,018,450	SH		DFND	1	0	3,018,450	0
RAPTOR PHARMACEUTICAL CORP	COM	75382F906	2,764	2,543	SH	Call	DFND	1	0	2,543	0
RECEPTOS INC	COM	756207906	7,915	480	SH	Call	DFND	1	0	480	0
RECEPTOS INC	COM	756207956	742	45	SH	Put	DFND	1	0	45	0
RECRO PHARMA INC	COM	75629F109	221	24,391	SH		DFND	1	0	24,391	0
REDHILL BIOPHARMA LTD	ADS	757468103	1,570	107,956	SH		DFND	1	0	107,956	0
REGENERON PHARMACEUTICALS INC	COM	75886F907	49,934	1,106	SH	Call	DFND	1	0	1,106	0
REGENERON PHARMACEUTICALS INC	COM	75886F957	26,141	579	SH	Put	DFND	1	0	579	0
REGULUS THERAPEUTIC INC	COM	75915K101	4,420	260,930	SH		DFND	1	0	260,930	0
REGULUS THERAPEUTIC INC	COM	75915K901	19,986	11,798	SH	Call	DFND	1	0	11,798	0
REPROS THERAPEUTICS INC	COM	76028H909	1,506	1,753	SH	Call	DFND	1	0	1,753	0
REPROS THERAPEUTICS INC	COM	76028H959	1,667	1,941	SH	Put	DFND	1	0	1,941	0
REVANCE THERAPEUTICS INC	COM	761330109	478	23,065	SH		DFND	1	0	23,065	0
RICEBRAN TECHNOLOGIES	COM	762831204	3,070	771,299	SH		DFND	1	0	771,299	0
ROCKWELL MEDICAL INC	COM	774374902	2,186	2,000	SH	Call	DFND	1	0	2,000	0
SALIX PHARMACEUTICALS LTD	COM	795435906	78,698	4,554	SH	Call	DFND	1	0	4,554	0
SANGAMO BIOSCIENCES INC	COM	800677106	4,073	259,741	SH		DFND	1	0	259,741	0
SANGAMO BIOSCIENCES INC	COM	800677906	14,714	9,384	SH	Call	DFND	1	0	9,384	0
SAREPTA THERAPEUTICS INC	COM	803607100	291	21,943	SH		DFND	1	0	21,943	0
SAREPTA THERAPEUTICS INC	COM	803607900	9,651	7,267	SH	Call	DFND	1	0	7,267	0
SAREPTA THERAPEUTICS INC	COM	803607950	1,300	979	SH	Put	DFND	1	0	979	0
SKYSTAR BIO PHARMACEUTICAL CO	COM	830884300	999	255,435	SH		DFND	1	0	255,435	0
SPDR S&P 500 ETF TRUST	UNIT	78462F953	153,605	7,441	SH	Put	DFND	1	0	7,441	0
SPDR S&P BIOTECH ETF	ETF	78464A950	22,257	987	SH	Put	DFND	1	0	987	0
STEMCELLS INC	COM	85857R204	4,753	4,660,000	SH		DFND	1	0	4,660,000	0
SUNESIS PHARMACEUTICALS INC	COM	867328601	673	274,800	SH		DFND	1	0	274,800	0
SUNESIS PHARMACEUTICALS INC	COM	867328901	993	4,053	SH	Call	DFND	1	0	4,053	0
SUNESIS PHARMACEUTICALS INC	COM	867328951	1,249	5,097	SH	Put	DFND	1	0	5,097	0
SUPERCONDUCTOR TECHNOLOGIES INC	COM	867931404	2,139	1,516,786	SH		DFND	1	0	1,516,786	0
SUPERCONDUCTOR TECHNOLOGIES INC	COM	867931954	19	135	SH	Put	DFND	1	0	135	0
SYNAGEVA BIOPHARMA CORP	COM	87159A103	294	3,013	SH		DFND	1	0	3,013	0
SYNAGEVA BIOPHARMA CORP	COM	87159A953	527	54	SH	Put	DFND	1	0	54	0
SYNERGY PHARMACEUTICALS	*W	871639118	1,869	404,627	SH		DFND	1	0	404,627	0
SYNERGY PHARMACEUTICALS INC	COM	871639958	980	2,121	SH	Put	DFND	1	0	2,121	0
SYNTA PHARMACEUTICALS INC	COM	87162T206	794	399,000	SH		DFND	1	0	399,000	0
T2 BIOSYSTEMS INC	COM	89853L104	2,509	161,650	SH		DFND	1	0	161,650	0
TEKMIRA PHARMACEUTICALS CORP.	COM	87911B209	2,983	170,821	SH		DFND	1	0	170,821	0
TENAX THERAPEUTICS INC	COM	88032L100	9,182	2,816,621	SH		DFND	1	0	2,816,621	0
TENET HEALTHCARE CORP	COM	88033G407	3,985	80,481	SH		DFND	1	0	80,481	0
TENET HEALTHCARE CORP	COM	88033G907	7,006	1,415	SH	Call	DFND	1	0	1,415	0
TENET HEALTHCARE CORP	COM	88033G957	28,478	5,752	SH	Put	DFND	1	0	5,752	0
TESARO INC	COM	881569907	15,027	2,618	SH	Call	DFND	1	0	2,618	0
TEVA PHARMACEUTICAL INDUSTRIES LTD	ADR	881624909	64,406	10,338	SH	Call	DFND	1	0	10,338	0
TEVA PHARMACEUTICAL INDUSTRIES LTD	ADR	881624959	9,438	1,515	SH	Put	DFND	1	0	1,515	0
THERAPEUTICSMD INC	COM	88338N107	504	83,274	SH		DFND	1	0	83,274	0
THERAPEUTICSMD INC	COM	88338N907	2,109	3,486	SH	Call	DFND	1	0	3,486	0
THORATEC CORP	COM	885175907	10,217	2,439	SH	Call	DFND	1	0	2,439	0
TONIX PHARMACEUTICALS CO.	COM	890260201	192	600,000	SH		DFND	1	0	600,000	0
TRANSITION THERAPEUTICS INC	COM	893716209	1,833	268,400	SH		DFND	1	0	268,400	0
TROVAGENE INC	COM	897238309	102	15,000	SH		DFND	1	0	15,000	0
TRUPANION INC	COM	898202106	1,920	240,000	SH		DFND	1	0	240,000	0
VANDA PHARMACEUTICALS INC	COM	921659108	1,052	113,165	SH		DFND	1	0	113,165	0
VANDA PHARMACEUTICALS INC	COM	921659908	1,878	2,019	SH	Call	DFND	1	0	2,019	0
VERTEX PHARMACEUTICALS INC	COM	92532F900	2,760	234	SH	Call	DFND	1	0	234	0
XENOPORT INC	COM	98411C900	98	137	SH	Call	DFND	1	0	137	0
XOMA CORP	COM	98419J907	996	2,736	SH	Call	DFND	1	0	2,736	0
XTL BIOPHARMACEUTICALS LTD	ADR	98386D208	3,016	1,311,453	SH		DFND	1	0	1,311,453	0
ZOGENIX INC	COM	98978L105	11,534	8,418,811	SH		DFND	1	0	8,418,811	0
ZOGENIX INC	COM	98978L905	2,774	20,249	SH	Call	DFND	1	0	20,249	0
ZOSANO PHARMA INC	COM	98979H103	1,431	141,504	SH		DFND	1	0	141,504	0