Insider Trades - PANORAMA CAPITAL, L.P.

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PANORAMA CAPITAL, L.P.: Declared Holdings
Company/Relationship	Reported	Shares	Ownership
Hyperion Therapeutics, Inc. Beneficial Owner (10% or more) NasdaqGM:HPTX (historical quotes, profile, other insiders)	31-Jul-12	1,860,597	Direct

Insider & restricted shareholder transactions reported over the last two years
Date Shares Stock Transaction
31-Jul-12 68,986 HPTX Option Exercise
31-Jul-12 550,000 HPTX Purchase at $10 per share.
(Cost of $5,500,000)
31-Jul-12 1,269,758 HPTX Acquisition (Non Open Market)
31-Jul-12 28,147 HPTX Disposition (Non Open Market)

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Insider & restricted shareholder transactions reported over the last two years
Date	Shares	Stock	Transaction
31-Jul-12	68,986	HPTX	Option Exercise
31-Jul-12	550,000	HPTX	Purchase at $10 per share. (Cost of $5,500,000)
31-Jul-12	1,269,758	HPTX	Acquisition (Non Open Market)
31-Jul-12	28,147	HPTX	Disposition (Non Open Market)