Baker Bros. Advisors 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	00287Y109	965,758	14,373,538	SH		SOLE		14,373,538	0	0
ACADIA Pharmaceuticals Inc.	COM	004225108	857,763	20,481,442	SH		SOLE		20,481,442	0	0
Acceleron Pharma, Inc.	COM	00434H108	910	28,765	SH		SOLE		28,765	0	0
Achaogen, Inc.	COM	004449104	603	100,000	SH		SOLE		100,000	0	0
Achillion Pharmaceuticals, Inc.	COM	00448Q201	13,500	1,523,739	SH		SOLE		1,523,739	0	0
Acorda Therapeutics, Inc.	COM	00484M106	24,628	738,916	SH		SOLE		738,916	0	0
Adaptimmune Therapeutics plc	SPONSORED ADR	00653A107	1,833	100,000	SH		SOLE		100,000	0	0
Aerie Pharmaceuticals, Inc.	COM	00771V108	5,284	299,356	SH		SOLE		299,356	0	0
Affimed N.V.	COM	N01045108	5,388	400,000	SH		SOLE		400,000	0	0
Agios Pharmaceuticals, Inc.	COM	00847X104	11,114	100,000	SH		SOLE		100,000	0	0
Alcobra Ltd.	SHS	M2239P109	11,706	1,789,871	SH		SOLE		1,789,871	0	0
Alder Biopharmaceuticals Inc.	COM	014339105	47,233	891,688	SH		SOLE		891,688	0	0
Aldeyra Therapeutics, Inc.	COM	01438T106	1,102	142,000	SH		SOLE		142,000	0	0
Alexion Pharmaceuticals, Inc.	COM	015351109	1,182,706	6,542,599	SH		SOLE		6,542,599	0	0
Alnylam Pharmaceuticals, Inc.	COM	02043Q107	1,359	11,340	SH		SOLE		11,340	0	0
Amarin Corporation plc	SPONSORED ADR	023111206	5,426	2,205,710	SH		SOLE		2,205,710	0	0
Anacor Pharmaceuticals, Inc.	COM	032420101	280,722	3,625,498	SH		SOLE		3,625,498	0	0
Aptose Biosciences, Inc.	COM	03835T200	170	33,397	SH		SOLE		33,397	0	0
Aquinox Pharmaceuticals, Inc.	COM	03842B101	8,310	1,197,366	SH		SOLE		1,197,366	0	0
Array BioPharma Inc.	COM	04269X105	39,529	5,482,505	SH		SOLE		5,482,505	0	0
Arrowhead Research Corp.	COM	042797209	7,218	1,009,509	SH		SOLE		1,009,509	0	0
Ascendis Pharma A/S	SPONSORED ADR	04351P101	1,768	100,000	SH		SOLE		100,000	0	0
Assembly Biosciences, Inc.	COM	045396108	4,815	250,000	SH		SOLE		250,000	0	0
aTyr Pharma Inc.	COM	002120103	43,247	2,335,125	SH		SOLE		2,335,125	0	0
Aurinia Pharmaceuticals Inc.	COM	05156V102	2,130	711,499	SH		SOLE		711,499	0	0
Bellerophon Therapeutics, Inc.	COM	078771102	2,776	350,000	SH		SOLE		350,000	0	0
Bellicum Pharmaceuticals, Inc.	COM	079481107	89,134	4,190,594	SH		SOLE		4,190,594	0	0
BioCryst Pharmaceuticals, Inc.	COM	09058V103	172,849	11,577,299	SH		SOLE		11,577,299	0	0
BioDelivery Sciences International, Inc.	COM	09060J106	1,672	210,021	SH		SOLE		210,021	0	0
BioMarin Pharmaceutical Inc.	COM	09061G101	560,148	4,095,247	SH		SOLE		4,095,247	0	0
Biota Pharmaceuticals, Inc.	COM	090694100	1,719	830,440	SH		SOLE		830,440	0	0
BioTime, Inc. Rights	WARRANTS	09066L162	23	20,084	SH		SOLE		20,084	0	0
bluebird bio, Inc.	COM	09609G100	25,442	151,105	SH		SOLE		151,105	0	0
Catalyst Pharmaceuticals, Inc.	COM	14888U101	30,296	7,335,692	SH		SOLE		7,335,692	0	0
Cellectis S.A.	SPONSORED ADR	15117K103	1,804	50,000	SH		SOLE		50,000	0	0
Cerus Corporation	COM	157085101	70,341	13,553,275	SH		SOLE		13,553,275	0	0
ChemoCentryx, Inc.	COM	16383L106	404	49,064	SH		SOLE		49,064	0	0
Chimerix, Inc.	COM	16934W106	5,323	115,216	SH		SOLE		115,216	0	0
Clovis Oncology, Inc.	COM	189464100	17,807	202,630	SH		SOLE		202,630	0	0
Concert Pharmaceuticals, Inc.	COM	206022105	7,384	495,908	SH		SOLE		495,908	0	0
Curis, Inc.	COM	231269101	3,567	1,077,663	SH		SOLE		1,077,663	0	0
Cyclacel Pharmaceuticals, Inc. Pfd. Conv. Ex 6%	PFD CONV EX 6%	23254L207	85	13,253	SH		SOLE		13,253	0	0
CytRx Corporation	COM	232828509	4,910	1,319,989	SH		SOLE		1,319,989	0	0
DBV Technologies S.A.	SPONSORED ADR	23306J101	55,451	1,862,019	SH		SOLE		1,862,019	0	0
Derma Sciences, Inc.	COM	249827502	24,758	3,457,841	SH		SOLE		3,457,841	0	0
Dermira, Inc.	COM	24983L104	1,755	100,000	SH		SOLE		100,000	0	0
Discovery Laboratories, Inc.	COM	254668403	2,427	3,569,643	SH		SOLE		3,569,643	0	0
Dyax Corp.	COM	26746E103	210,056	7,926,630	SH		SOLE		7,926,630	0	0
Enanta Pharmaceuticals, Inc.	COM	29251M106	3,390	75,357	SH		SOLE		75,357	0	0
Epizyme, Inc.	COM	29428V104	5,580	232,481	SH		SOLE		232,481	0	0
Five Prime Therapeutics, Inc.	COM	33830X104	478	19,247	SH		SOLE		19,247	0	0
Foamix Pharmaceuticals Ltd.	SHS	M46135105	20,981	2,046,967	SH		SOLE		2,046,967	0	0
Foundation Medicine, Inc.	COM	350465100	707	20,892	SH		SOLE		20,892	0	0
Galapagos NV	SPONSORED ADR	36315X101	19,018	369,276	SH		SOLE		369,276	0	0
Genomic Health Inc.	COM	37244C101	379,545	13,657,598	SH		SOLE		13,657,598	0	0
Gilead Sciences, Inc.	COM	375558103	29,269	249,995	SH		SOLE		249,995	0	0
Halozyme Therapeutics, Inc.	COM	40637H109	43,603	1,931,057	SH		SOLE		1,931,057	0	0
Heron Therapeutics, Inc.	COM	427746102	87,491	2,807,784	SH		SOLE		2,807,784	0	0
Idera Pharmaceuticals, Inc.	COM	45168K306	25,862	6,970,902	SH		SOLE		6,970,902	0	0
Ignyta, Inc.	COM	451731103	8,616	571,000	SH		SOLE		571,000	0	0
Immune Design Corp.	COM	45252L103	3,076	148,937	SH		SOLE		148,937	0	0
ImmunoGen, Inc.	COM	45253H101	33,368	2,320,424	SH		SOLE		2,320,424	0	0
Incyte Corporation	COM	45337C102	1,549,140	14,865,559	SH		SOLE		14,845,559	0	0
Insmed, Inc.	COM	457669307	38,669	1,583,490	SH		SOLE		1,583,490	0	0
Intra-Cellular Therapies, Inc.	COM	46116X101	3,328	104,166	SH		SOLE		104,166	0	0
Invitae Corporation	COM	46185L103	97,538	6,554,967	SH		SOLE		6,554,967	0	0
Ironwood Pharmaceuticals, Inc.	COM	46333X108	2,040	169,163	SH		SOLE		169,163	0	0
Isis Pharmaceuticals, Inc.	COM	464330109	3,288	57,140	SH		SOLE		57,140	0	0
Juno Therapeutics, Inc.	COM	48205A109	4,266	80,000	SH		SOLE		80,000	0	0
Karyopharm Therapeutics Inc.	COM	48576U106	5,904	216,990	SH		SOLE		216,990	0	0
Kythera Biopharmaceuticals, Inc.	COM	501570105	29,201	387,741	SH		SOLE		387,741	0	0
La Jolla Pharmaceutical Company	COM	503459604	10,098	412,008	SH		SOLE		412,008	0	0
Ligand Pharmaceuticals Incorporated	COM	53220K504	7,405	73,386	SH		SOLE		73,386	0	0
Lion Biotechnologies, Inc.	COM	53619R102	16,666	1,817,429	SH		SOLE		1,817,429	0	0
Loxo Oncology, Inc.	COM	548862101	1,803	100,000	SH		SOLE		100,000	0	0
MacroGenics, Inc.	COM	556099109	11,582	305,043	SH		SOLE		305,043	0	0
Marinus Pharmaceuticals, Inc.	COM	56854Q101	2,320	200,000	SH		SOLE		200,000	0	0
Mast Therapeutics, Inc.	COM	576314108	2,307	4,707,464	SH		SOLE		4,707,464	0	0
MediWound Ltd.	ORD SHS	M68830104	1,591	225,000	SH		SOLE		225,000	0	0
Mirati Therapeutics, Inc.	COM	60468T105	88,276	2,805,074	SH		SOLE		2,805,074	0	0
Neurocrine Biosciences, Inc.	COM	64125C109	25,897	542,236	SH		SOLE		542,236	0	0
NeuroDerm Ltd.	ORD SHS	M74231107	3,838	250,000	SH		SOLE		250,000	0	0
Novavax, Inc.	COM	670002104	21,675	1,945,687	SH		SOLE		1,945,687	0	0
Ohr Pharmaceuticals, Inc.	COM	67778H200	930	370,370	SH		SOLE		370,370	0	0
Omeros Corporation	COM	682143102	17,354	964,621	SH		SOLE		964,621	0	0
Ophthotech Corporation	COM	683745103	1,856	35,649	SH		SOLE		35,649	0	0
Osiris Therapeutics, Inc.	COM	68827R108	9,714	499,193	SH		SOLE		499,193	0	0
Palatin Technologies, Inc.	COM	696077403	1,825	2,050,000	SH		SOLE		2,050,000	0	0
Progenics Pharmaceuticals, Inc.	COM	743187106	32,457	4,350,808	SH		SOLE		4,350,808	0	0
ProQR Therapeutics N.V.	SHS	N71542109	16,475	988,299	SH		SOLE		988,299	0	0
Proteon Therapeutics, Inc.	COM	74371L109	3,157	176,762	SH		SOLE		176,762	0	0
Receptos, Inc.	COM	756207106	4,542	23,900	SH		SOLE		23,900	0	0
Repros Therapeutics Inc.	COM	76028H209	13,985	1,955,944	SH		SOLE		1,955,944	0	0
Ritter Pharmaceuticals, Inc.	COM	767836109	1,780	400,000	SH		SOLE		400,000	0	0
Sage Therapeutics, Inc.	COM	78667J108	7,665	105,000	SH		SOLE		105,000	0	0
Sangamo BioSciences, Inc.	COM	800677106	35,831	3,230,932	SH		SOLE		3,230,932	0	0
Seattle Genetics, Inc.	COM	812578102	1,494,121	30,870,262	SH		SOLE		30,860,262	0	0
Seres Therapeutics, Inc.	COM	81750R102	5,188	125,000	SH		SOLE		125,000	0	0
Spark Therapeutics, Inc.	COM	84652J103	76,084	1,262,382	SH		SOLE		1,262,382	0	0
Stemline Therapeutics, Inc.	COM	85858C107	3,925	333,497	SH		SOLE		333,497	0	0
Sunesis Pharmaceuticals, Inc.	COM	867328601	9,632	3,200,000	SH		SOLE		3,200,000	0	0
Tekmira Pharmaceuticals Corp.	COM	87911B209	2,142	180,582	SH		SOLE		180,582	0	0
Tenax Therapeutics Inc.	COM	88032L100	1,311	355,348	SH		SOLE		355,348	0	0
TG Therapeutics, Inc.	COM	88322Q108	33,246	2,003,991	SH		SOLE		2,003,991	0	0
Threshold Pharmaceuticals, Inc.	COM	885807206	11,819	2,925,519	SH		SOLE		2,925,519	0	0
Ultragenyx Pharmaceuticals	COM	90400D108	12,686	123,894	SH		SOLE		123,894	0	0
UniQure B.V.	SHS	N90064101	810	30,000	SH		SOLE		30,000	0	0
Vanda Pharmaceuticals Inc.	COM	921659108	5,201	409,881	SH		SOLE		409,881	0	0
Versartis, Inc.	COM	92529L102	52,305	3,436,585	SH		SOLE		3,436,585	0	0
Vitae Pharmaceuticals, Inc.	COM	92847N103	2,701	187,597	SH		SOLE		187,597	0	0
Xencor, Inc.	COM	98401F105	19,159	872,072	SH		SOLE		872,072	0	0
XenoPort, Inc.	COM	98411C100	39,898	6,508,622	SH		SOLE		6,508,622	0	0
XOMA Corporation	COM	98419J107	56,972	14,683,513	SH		SOLE		14,683,513	0	0
Zafgen, Inc.	COM	98885E103	9,962	287,677	SH		SOLE		287,677	0	0
ZIOPHARM Oncology, Inc.	COM	98973P101	2,271	189,259	SH		SOLE		189,259	0	0
Zogenix, Inc.	COM	98978L105	16,848	10,028,564	SH		SOLE		10,028,564	0	0
Acorda Therapeutics, Inc. Notes 1.75% 6/15/2021	CONV BONDS	00484MAA4	60,049	59,583,000	PRN		SOLE		59,583,000	0	0
Array BioPharma Inc. Notes 3.0% 6/1/2020	CONV BONDS	04269XAA3	3,780	3,000,000	PRN		SOLE		3,000,000	0	0
BioMarin Pharmaceutical Inc. Notes 1.875% 4/23/2017	CONV BONDS	09061GAD3	149,970	22,379,000	PRN		SOLE		22,379,000	0	0
BioMarin Pharmaceutical Inc. Notes 0.75% 10/15/2018	CONV BONDS	09061GAE1	18,940	12,228,000	PRN		SOLE		12,228,000	0	0
Gilead, Inc. 1.625% 5/1/16	CONV BONDS	375558AP8	107,926	20,944,000	PRN		SOLE		20,944,000	0	0
Incyte Corporation Notes 4.75% 10/1/2015 144A	CONV BONDS	45337CAJ1	478,833	40,446,000	PRN		SOLE		40,446,000	0	0
Incyte Corporation Notes 0.375% 11/15/2018 144A	CONV BONDS	45337CAK8	529,519	259,000,000	PRN		SOLE		259,000,000	0	0
Incyte Corporation Notes 1.25% 11/15/2020 144A	CONV BONDS	45337CAL6	567,758	274,500,000	PRN		SOLE		274,500,000	0	0
Medivation, Inc. 2.625% 4/1/17	CONV BONDS	58501NAA9	75,011	33,889,000	PRN		SOLE		33,889,000	0	0
Protalix BioTherapeutics, Inc. Notes 4.5% 9/15/18	CONV BONDS	74365AAB7	2,606	3,423,000	PRN		SOLE		3,423,000	0	0