<TABLE>
<CAPTION>
FORM 13F
Page of Name of Reporting Manager: HAMBRECHT & QUIST CAPITAL MANAGEMENT
- -----------------------------------------------------------------------------------------------------------
Item 5:
Item 1: Item 2: Item 3: Item 4: Shares of
Name of Issuer Title of Class CUSIP Fair Market Principal
Number Value Amount
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Affymetrix Common 00826T108 4,921,875 50,000
- -----------------------------------------------------------------------------------------------------------
Amgen Common 031162100 6,112,500 75,000
- -----------------------------------------------------------------------------------------------------------
Aradigm Common 038505103 3,193,750 350,000
- -----------------------------------------------------------------------------------------------------------
Biofield Common 090591207 52,726 878,769
- -----------------------------------------------------------------------------------------------------------
Bioject Medical Technologies Common 09059T107 414,700 829,400
- -----------------------------------------------------------------------------------------------------------
Biomatrix Common 09060P102 6,256,473 278,840
- -----------------------------------------------------------------------------------------------------------
Biopure Common 09065H915 1,240,843 169,746
- -----------------------------------------------------------------------------------------------------------
BioTransplant Common 09066Y107 4,542,303 712,519
- -----------------------------------------------------------------------------------------------------------
Biovail Common 09067K106 10,606,750 209,000
- -----------------------------------------------------------------------------------------------------------
Calypte Biomedical Common 131722100 1,568,430 1,433,993
- -----------------------------------------------------------------------------------------------------------
Catalytica Common 148885106 18,099,990 1,206,666
- -----------------------------------------------------------------------------------------------------------
Celgene Common 151020104 7,848,125 290,000
- -----------------------------------------------------------------------------------------------------------
Cor Therapeutics Common 217753102 2,850,000 1,012,700
- -----------------------------------------------------------------------------------------------------------
Coulter Pharmaceutical Common 222116105 3,693,438 265,000
- -----------------------------------------------------------------------------------------------------------
Cubist Pharmaceuticals Common 229990981 13,875,574 1,620,505
- -----------------------------------------------------------------------------------------------------------
CV Therapeutics Common 126667104 7,806,094 533,750
- -----------------------------------------------------------------------------------------------------------
Cytyc Common 232946103 12,955,709 334,881
- -----------------------------------------------------------------------------------------------------------
Elan Warrants 284131802 1,248,750 75,000
- -----------------------------------------------------------------------------------------------------------
Emisphere Technologies Common 291345106 2,208,376 151,000
- -----------------------------------------------------------------------------------------------------------
Envirogen Common 294040100 20,182 20,833
- -----------------------------------------------------------------------------------------------------------
EP Med Systems Common 26899B914 3,225,000 1,075,000
- -----------------------------------------------------------------------------------------------------------
Focal Common 343909107 1,359,885 271,977
- -----------------------------------------------------------------------------------------------------------
Fuisz Technologies Common 359536109 1,125,317 178,268
- -----------------------------------------------------------------------------------------------------------
Gene Logic Common 368689105 2,209,375 350,000
- --------------------------------------------------------------------------- ----------------
Gilead Sciences Common 37555B103 22,893,050 356,659
- -----------------------------------------------------------------------------------------------------------
IDEXX Laboratories Common 45168D104 4,304,688 250,000
- --------------------------------------------------------------------------- ----------------
ImClone Systems Common 45245W109 7,730,625 232,500
- -----------------------------------------------------------------------------------------------------------
Interpore Cross Common 46062W107 2,517,500 380,000
- -----------------------------------------------------------------------------------------------------------
KeraVision Common 648990992 2,680,405 206,185
- -----------------------------------------------------------------------------------------------------------
Landec Common 514766104 2,903,271 566,492
- -----------------------------------------------------------------------------------------------------------
LJL BioSystems Common 501873103 3,210,581 969,232
- -----------------------------------------------------------------------------------------------------------
Lynx Therapeutics Common 551812308 4,218,750 375,000
- -----------------------------------------------------------------------------------------------------------
Martek Biosciences Common 572901106 4,486,288 780,224
- -----------------------------------------------------------------------------------------------------------
MedImmune Common 584699102 3,986,250 110,000
- -----------------------------------------------------------------------------------------------------------
NeoPath Common 640517108 1,332,692 276,923
- -----------------------------------------------------------------------------------------------------------
Quintiles Transnational Common 748767100 2,909,878 152,900
- -----------------------------------------------------------------------------------------------------------
Ribi ImmunoChem Research Common 762553105 1,678,122 745,832
- -----------------------------------------------------------------------------------------------------------
Sepracor Common 817315104 13,481,958 178,569
- -----------------------------------------------------------------------------------------------------------
Synaptic Pharmaceutical Common 871990982 937,500 187,500
- -----------------------------------------------------------------------------------------------------------
Teva Pharmaceutical Industries Common 881624209 2,515,626 50,000
- -----------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
FORM 13F
---------------------------
(SEC USE ONLY)
Page of Name of Reporting Manager: HAMBRECHT & QUIST CAPITAL MANAGEMENT
- -------------------------------------------------------------------------------------------------------------------------------
Item 6: Item 8:
Item 1: Investment Discretion Item 7: Voting Authority (Shares)
---------------------------------------- ----------------------------------------
Name of Issuer (b) Shared- Managers
(a) Sole As Defined (c) Shared- See Instr. V (a) Sole (b) Shared (c) None
in Instr. V Other
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Affymetrix X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Amgen X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Aradigm X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Biofield X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Bioject Medical Technologies X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Biomatrix X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Biopure X NA X
- -------------------------------------------------------------------------------------------------------------------------------
BioTransplant X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Biovail X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Calypte Biomedical X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Catalytica X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Celgene X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Cor Therapeutics X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Coulter Pharmaceutical X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Cubist Pharmaceuticals X NA X
- -------------------------------------------------------------------------------------------------------------------------------
CV Therapeutics X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Cytyc X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Elan X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Emisphere Technologies X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Envirogen X NA X
- -------------------------------------------------------------------------------------------------------------------------------
EP Med Systems X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Focal X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Fuisz Technologies X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Gene Logic X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Gilead Sciences X NA X
- -------------------------------------------------------------------------------------------------------------------------------
IDEXX Laboratories X NA X
- -------------------------------------------------------------------------------------------------------------------------------
ImClone Systems X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Interpore Cross X NA X
- -------------------------------------------------------------------------------------------------------------------------------
KeraVision X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Landec X NA X
- -------------------------------------------------------------------------------------------------------------------------------
LJL BioSystems X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Lynx Therapeutics X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Martek Biosciences X NA X
- -------------------------------------------------------------------------------------------------------------------------------
MedImmune X NA X
- -------------------------------------------------------------------------------------------------------------------------------
NeoPath X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Quintiles Transnational X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Ribi ImmunoChem Research X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Sepracor X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Synaptic Pharmaceutical X NA X
- -------------------------------------------------------------------------------------------------------------------------------
Teva Pharmaceutical Industries X NA X
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FORM 13F
Page of Name of Reporting Manager: HAMBRECHT & QUIST CAPITAL MANAGEMENT
- -----------------------------------------------------------------------------------------------------------
Item 5:
Item 1: Item 2: Item 3: Item 4: Shares of
Name of Issuer Title of Class CUSIP Fair Market Principal
Number Value Amount
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Transkaryotic Therapies Common 893735100 18,492,123 359,944
- -----------------------------------------------------------------------------------------------------------
Transkaryotic Therapies (Restricted) Common 893735100 990,757 24,106
- -----------------------------------------------------------------------------------------------------------
Triangle Pharmaceuticals Common 89589H104 5,775,000 300,000
- -----------------------------------------------------------------------------------------------------------
Verdant Brands Common 923366108 118,750 38,000
- -----------------------------------------------------------------------------------------------------------
Vivus Common 928551100 1,834,219 645,000
- -----------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------
COLUMN TOTALS 221,512,323
- -----------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
FORM 13F
---------------------------
(SEC USE ONLY)
Page of Name of Reporting Manager: HAMBRECHT & QUIST CAPITAL MANAGEMENT
---------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Item 6: Item 8:
Item 1: Investment Discretion Item 7: Voting Authority (Shares)
--------------------------------------- ----------------------------------------
Name of Issuer (b) Shared- Managers
(a) Sole As Defined (c) Shared- See Instr. V (a) Sole (b) Shared (c) None
in Instr. V Other
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Transkaryotic Therapies X NA X
- ------------------------------------------------------------------------------------------------------------------------------------
Transkaryotic Therapies (Restricted) X NA X
- ------------------------------------------------------------------------------------------------------------------------------------
Triangle Pharmaceuticals X NA X
- ------------------------------------------------------------------------------------------------------------------------------------
Verdant Brands X NA X
- ------------------------------------------------------------------------------------------------------------------------------------
Vivus X NA X
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
COLUMN TOTALS
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
