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	889,866	14,373,538	SH		SOLE		14,373,538	0	0
ACADIA Pharmaceuticals Inc.	COM	004225108	795,813	24,516,738	SH		SOLE		24,516,738	0	0
Acceleron Pharma Inc.	COM	00434H108	977	28,765	SH		SOLE		28,765	0	0
Achaogen, Inc.	COM	004449104	379	100,000	SH		SOLE		100,000	0	0
Achillion Pharmaceuticals, Inc.	COM	00448Q201	19,309	2,475,515	SH		SOLE		2,475,515	0	0
Acorda Therapeutics, Inc.	COM	00484M106	93,376	3,661,082	SH		SOLE		3,661,082	0	0
Adamas Pharmaceuticals, Inc.	COM	00548A106	2,614	172,630	SH		SOLE		172,630	0	0
Adaptimmune Therapeutics plc	SPONSORED ADR	00653A107	815	100,000	SH		SOLE		600,000	0	0
Advanced Accelerator Applications S.A.	SPONSORED ADR	00790T100	25,188	833,089	SH		SOLE		1,666,178	0	0
Aeglea BioTherapeutics, Inc.	COM	00773J103	1,965	404,230	SH		SOLE		404,230	0	0
Aerie Pharmaceuticals, Inc.	COM	00771V108	5,269	299,356	SH		SOLE		299,356	0	0
Affimed N.V.	COM	N01045108	992	400,000	SH		SOLE		400,000	0	0
Agios Pharmaceuticals, Inc.	COM	00847X104	8,711	207,915	SH		SOLE		207,915	0	0
Aimmune Therapeutics, Inc.	COM	00900T107	7,292	673,908	SH		SOLE		673,908	0	0
Akari Therapeutics plc	SPONSORED ADR	00972G108	6,703	496,901	SH		SOLE		49,690,100	0	0
Alcobra Ltd.	SHS	M2239P109	10,490	2,336,359	SH		SOLE		2,336,359	0	0
Alder BioPharmaceuticals, Inc.	COM	014339105	5,427	217,328	SH		SOLE		217,328	0	0
Aldeyra Therapeutics, Inc.	COM	01438T106	808	142,000	SH		SOLE		142,000	0	0
Alexion Pharmaceuticals, Inc.	COM	015351109	763,995	6,543,295	SH		SOLE		6,543,295	0	0
Alkermes plc	SHS	G01767105	10,816	250,251	SH		SOLE		250,251	0	0
Alnylam Pharmaceuticals, Inc.	COM	02043Q107	629	11,340	SH		SOLE		11,340	0	0
Amarin Corporation plc	SPONSORED ADR NEW	023111206	1,732	801,860	SH		SOLE		801,860	0	0
Aquinox Pharmaceuticals, Inc.	COM	03842B101	51,321	7,752,487	SH		SOLE		7,752,487	0	0
Arbutus Biopharma Corporation	COM	03879J100	628	180,582	SH		SOLE		180,582	0	0
Array BioPharma Inc.	COM	04269X105	15,346	4,310,666	SH		SOLE		4,310,666	0	0
Arrowhead Pharmaceuticals, Inc.	COM	04280A100	5,371	1,009,509	SH		SOLE		1,009,509	0	0
Ascendis Pharma A/S	SPONSORED ADR	04351P101	9,893	745,521	SH		SOLE		745,521	0	0
Assembly Biosciences, Inc.	COM	045396108	1,388	250,000	SH		SOLE		250,000	0	0
Aurinia Pharmaceuticals Inc.	COM	05156V102	2,120	711,499	SH		SOLE		711,499	0	0
BeiGene, Ltd.	SPONSORED ADR	07725L102	56,998	1,912,680	SH		SOLE		24,864,840	0	0
Bellicum Pharmaceuticals, Inc.	COM	079481107	63,059	4,865,647	SH		SOLE		4,865,647	0	0
BioCryst Pharmaceuticals, Inc.	COM	09058V103	42,630	15,010,534	SH		SOLE		15,010,534	0	0
BioDelivery Sciences International, Inc.	COM	09060J106	496	210,021	SH		SOLE		210,021	0	0
BioMarin Pharmaceutical Inc.	COM	09061G101	373,944	4,806,483	SH		SOLE		4,806,483	0	0
BioTime, Inc.	*W EXP 10/1/201	09066L162	9	20,084	SH		SOLE		20,084	0	0
bluebird bio, Inc.	COM	09609G100	12,725	293,943	SH		SOLE		293,943	0	0
Catalyst Pharmaceuticals, Inc.	COM	14888U101	3,637	5,122,153	SH		SOLE		5,122,153	0	0
Cellectis S.A.	SPONSORED ADS	15117K103	1,330	50,000	SH		SOLE		50,000	0	0
Cerus Corporation	COM	157085101	84,572	13,553,275	SH		SOLE		13,553,275	0	0
ChemoCentryx, Inc.	COM	16383L106	220	49,064	SH		SOLE		49,064	0	0
Chimerix, Inc.	COM	16934W106	453	115,216	SH		SOLE		115,216	0	0
Concert Pharmaceuticals, Inc.	COM	206022105	5,279	470,058	SH		SOLE		470,058	0	0
Curis, Inc.	COM	231269101	3,119	1,999,303	SH		SOLE		1,999,303	0	0
Cyclacel Pharmaceuticals, Inc.	PFD CONV EX 6%	23254L207	83	13,253	SH		SOLE		13,253	0	0
CytRx Corporation	COM PAR $.001	232828509	1,472	659,995	SH		SOLE		659,995	0	0
DBV Technologies S.A.	SPONSORED ADR	23306J101	179,722	5,509,560	SH		SOLE		2,754,780	0	0
Derma Sciences, Inc.	COM PAR $.01	249827502	14,784	3,752,390	SH		SOLE		3,752,390	0	0
Dermira, Inc.	COM	24983L104	9,548	326,428	SH		SOLE		326,428	0	0
Dimension Therapeutics, Inc.	COM	25433V105	7,511	1,251,881	SH		SOLE		1,251,881	0	0
Dynavax Technologies Corporation	COM NEW	268158201	1,094	75,000	SH		SOLE		75,000	0	0
Enanta Pharmaceuticals, Inc.	COM	29251M106	1,662	75,357	SH		SOLE		75,357	0	0
Endocyte, Inc.	COM	29269A102	3,629	1,130,577	SH		SOLE		1,130,577	0	0
Epizyme, Inc.	COM	29428V104	2,381	232,481	SH		SOLE		232,481	0	0
Exelixis, Inc.	COM	30161Q104	20,150	2,580,000	SH		SOLE		2,580,000	0	0
Five Prime Therapeutics, Inc.	COM	33830X104	796	19,247	SH		SOLE		19,247	0	0
Foamix Pharmaceuticals Ltd.	SHS	M46135105	14,235	2,241,702	SH		SOLE		2,241,702	0	0
Foundation Medicine, Inc.	COM	350465100	390	20,892	SH		SOLE		20,892	0	0
Galapagos NV	SPONSORED ADR	36315X101	14,416	259,894	SH		SOLE		259,894	0	0
Genomic Health, Inc.	COM	37244C101	353,955	13,668,866	SH		SOLE		13,668,866	0	0
GlycoMimetics, Inc.	COM	38000Q102	2,772	381,235	SH		SOLE		381,235	0	0
GW Pharmaceuticals plc	ADS	36197T103	1,374	15,000	SH		SOLE		180,000	0	0
Halozyme Therapeutics, Inc.	COM	40637H109	15,862	1,838,057	SH		SOLE		1,838,057	0	0
Heron Therapeutics, Inc.	COM	427746102	51,573	2,857,250	SH		SOLE		2,857,250	0	0
Idera Pharmaceuticals, Inc.	COM NEW	45168K306	10,711	7,000,977	SH		SOLE		7,000,977	0	0
Ignyta, Inc.	COM	451731103	3,095	571,000	SH		SOLE		571,000	0	0
Immune Design Corp.	COM	45252L103	1,215	148,937	SH		SOLE		148,937	0	0
ImmunoGen, Inc.	COM	45253H101	9,287	3,015,353	SH		SOLE		3,015,353	0	0
Incyte Corporation	COM	45337C102	1,879,426	23,498,697	SH		SOLE		23,498,697	0	0
Insmed Incorporated	COM PAR $.01	457669307	14,790	1,500,000	SH		SOLE		1,500,000	0	0
Intellia Therapeutics, Inc.	COM	45826J105	22,676	1,062,120	SH		SOLE		1,062,120	0	0
Intra-Cellular Therapies, Inc.	COM	46116X101	23,648	609,166	SH		SOLE		609,166	0	0
Invitae Corporation	COM	46185L103	48,441	6,554,967	SH		SOLE		6,554,967	0	0
InVivo Therapeutics Holdings Corp.	COM NEW	46186M209	2,312	400,000	SH		SOLE		400,000	0	0
Ionis Pharmaceuticals, Inc.	COM	462222100	1,331	57,140	SH		SOLE		57,140	0	0
Juno Therapeutics, Inc.	COM	48205A109	3,075	80,000	SH		SOLE		80,000	0	0
Karyopharm Therapeutics Inc.	COM	48576U106	1,456	216,990	SH		SOLE		216,990	0	0
La Jolla Pharmaceutical Company	COM PAR $.0001 2	503459604	220	13,746	SH		SOLE		13,746	0	0
Ligand Pharmaceuticals Incorporated	COM NEW	53220K504	8,753	73,386	SH		SOLE		73,386	0	0
Loxo Oncology, Inc.	COM	548862101	3,193	137,735	SH		SOLE		137,735	0	0
MacroGenics, Inc.	COM	556099109	9,816	363,676	SH		SOLE		363,676	0	0
Mast Therapeutics, Inc.	COM	576314108	1,818	3,868,026	SH		SOLE		3,868,026	0	0
Medgenics, Inc.	COM NEW	58436Q203	4,887	880,539	SH		SOLE		880,539	0	0
Medivation, Inc.	COM	58501N101	19,892	329,876	SH		SOLE		329,876	0	0
MediWound Ltd.	ORD SHS	M68830104	1,783	226,000	SH		SOLE		226,000	0	0
Merus N.V.	COM	N5749R100	8,972	1,122,859	SH		SOLE		1,122,859	0	0
Minerva Neurosciences, Inc.	COM	603380106	5,191	508,405	SH		SOLE		508,405	0	0
Mirati Therapeutics, Inc.	COM	60468T105	12,390	2,269,198	SH		SOLE		2,269,198	0	0
Nabriva Therapeutics AG	SPONSORED ADR	62957M104	2,625	350,000	SH		SOLE		35,000	0	0
Natera, Inc.	COM	632307104	5,429	450,000	SH		SOLE		450,000	0	0
Neurocrine Biosciences, Inc.	COM	64125C109	40,697	895,422	SH		SOLE		895,422	0	0
NeuroDerm Ltd.	ORD SHS	M74231107	4,956	305,000	SH		SOLE		305,000	0	0
Novavax, Inc.	COM	670002104	17,297	2,379,254	SH		SOLE		2,379,254	0	0
Ophthotech Corporation	COM	683745103	1,819	35,649	SH		SOLE		35,649	0	0
Osiris Therapeutics, Inc.	COM	68827R108	2,541	499,193	SH		SOLE		499,193	0	0
Palatin Technologies, Inc.	COM PAR $.01	696077403	905	2,050,000	SH		SOLE		2,050,000	0	0
Progenics Pharmaceuticals, Inc.	COM	743187106	16,754	3,970,250	SH		SOLE		3,970,250	0	0
ProNAi Therapeutics, Inc.	COM	74346L101	398	200,000	SH		SOLE		200,000	0	0
ProQR Therapeutics N.V.	SHS EURO	N71542109	5,973	1,234,095	SH		SOLE		1,234,095	0	0
Proteon Therapeutics, Inc.	COM	74371L109	2,398	298,591	SH		SOLE		298,591	0	0
Ritter Pharmaceuticals, Inc.	COM	767836109	612	400,000	SH		SOLE		400,000	0	0
Sage Therapeutics, Inc.	COM	78667J108	6,751	224,048	SH		SOLE		224,048	0	0
Sangamo BioSciences, Inc.	COM	800677106	23,484	4,055,876	SH		SOLE		4,055,876	0	0
SCYNEXIS, Inc.	COM	811292101	1,015	467,600	SH		SOLE		467,600	0	0
Seattle Genetics, Inc.	COM	812578102	1,747,287	43,238,967	SH		SOLE		43,238,967	0	0
Selecta Biosciences, Inc.	COM	816212104	2,504	178,950	SH		SOLE		178,950	0	0
Seres Therapeutics, Inc.	COM	81750R102	3,631	125,000	SH		SOLE		125,000	0	0
Spark Therapeutics, Inc.	COM	84652J103	67,407	1,318,341	SH		SOLE		1,318,341	0	0
Stemline Therapeutics, Inc.	COM	85858C107	2,258	333,497	SH		SOLE		333,497	0	0
Sunesis Pharmaceuticals, Inc.	COM NEW	867328601	2,437	4,450,000	SH		SOLE		4,450,000	0	0
Synta Pharmaceuticals Corp.	COM	87162T206	526	2,021,728	SH		SOLE		2,021,728	0	0
Syros Pharmaceuticals, Inc.	COM	87184Q107	3,711	204,465	SH		SOLE		204,465	0	0
Tenax Therapeutics, Inc.	COM	88032L100	1,075	420,000	SH		SOLE		420,000	0	0
TG Therapeutics, Inc.	COM	88322Q108	12,144	2,003,991	SH		SOLE		2,003,991	0	0
Trevena, Inc.	COM	89532E109	2,835	450,000	SH		SOLE		450,000	0	0
Trillium Therapeutics Inc.	COM NEW	89620X506	1,902	211,792	SH		SOLE		211,792	0	0
Ultragenyx Pharmaceutical Inc.	COM	90400D108	5,424	110,894	SH		SOLE		110,894	0	0
uniQure N.V.	SHS	N90064101	1,695	230,000	SH		SOLE		230,000	0	0
Versartis, Inc.	COM	92529L102	30,121	2,723,399	SH		SOLE		2,723,399	0	0
Vitae Pharmaceuticals, Inc.	COM	92847N103	6,880	637,597	SH		SOLE		637,597	0	0
Windtree Therapeutics, Inc.	COM PAR	97382D105	492	254,973	SH		SOLE		254,973	0	0
Xencor, Inc.	COM	98401F105	16,561	872,072	SH		SOLE		872,072	0	0
XenoPort, Inc.	COM	98411C100	24,469	3,475,672	SH		SOLE		3,475,672	0	0
Zogenix, Inc.	COM NEW	98978L204	8,050	1,000,000	SH		SOLE		1,000,000	0	0
Acorda Therapeutics, Inc. Notes 1.75% 6/15/2021	NOTE 1.75% 6/15/2021	00484MAA4	67,351	77,083,000	PRN		SOLE		77,083,000	0	0
Aegerion Pharmaceuticals, Inc. Notes 2.0% 8/15/2019	NOTE 2.0% 8/15/2019	00767EAB8	14,840	26,517,000	PRN		SOLE		26,517,000	0	0
Array BioPharma Inc. Notes 3.0% 6/1/2020	NOTE 3.0% 6/1/2020	04269XAA3	2,544	3,000,000	PRN		SOLE		3,000,000	0	0
BioMarin Pharmaceutical Inc. Notes 1.875% 4/23/2017	NOTE 1.875% 4/23/2017	09061GAD3	84,908	22,379,000	PRN		SOLE		22,379,000	0	0
BioMarin Pharmaceutical Inc. Notes 0.75% 10/15/2018	NOTE 0.75% 10/15/2018	09061GAE1	13,573	12,228,000	PRN		SOLE		12,228,000	0	0
Clovis Oncology, Inc. 2.5% 9/15/2021	NOTE 2.5% 9/15/2021	189464AB6	51,310	72,758,000	PRN		SOLE		72,758,000	0	0
Corsicanto Ltd. 3.5% 1/15/2032	NOTE 3.5% 1/15/2032	220480AB3	15,285	15,000,000	PRN		SOLE		15,000,000	0	0
Exelixis, Inc. Notes 4.25% 8/15/2019	NOTE 4.25% 8/15/2019	30161QAC8	29,654	20,000,000	PRN		SOLE		20,000,000	0	0
Incyte Corporation Notes 0.375% 11/15/2018 144A	NOTE 0.375% 11/15/2018	45337CAK8	431,835	259,000,000	PRN		SOLE		259,000,000	0	0
Incyte Corporation Notes 1.25% 11/15/2020 144A	NOTE 1.25% 11/15/2020	45337CAL6	467,293	274,500,000	PRN		SOLE		274,500,000	0	0
Protalix BioTherapeutics, Inc. Notes 4.5% 9/15/18	NOTE 4.5% 9/15/2018	74365AAB7	2,300	3,423,000	PRN		SOLE		3,423,000	0	0
XenoPort, Inc. Notes 2.5% 2/1/2022	NOTE 2.5% 2/1/2022	98411CAB6	98,471	100,000,000	PRN		SOLE		100,000,000	0	0