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	904,636	14,343,358	SH		SOLE		14,343,358	0	0
Abeona Therapeutics Inc.	COM	00289Y107	610	101,680	SH		SOLE		101,680	0	0
ACADIA Pharmaceuticals Inc.	COM	004225108	821,327	25,819,768	SH		SOLE		25,819,768	0	0
Acceleron Pharma Inc.	COM	00434H108	1,041	28,765	SH		SOLE		28,765	0	0
Achaogen, Inc.	COM	004449104	479	100,000	SH		SOLE		100,000	0	0
Achillion Pharmaceuticals, Inc.	COM	00448Q201	20,052	2,475,515	SH		SOLE		2,475,515	0	0
Acorda Therapeutics, Inc.	COM	00484M106	76,443	3,661,082	SH		SOLE		3,661,082	0	0
Adamas Pharmaceuticals, Inc.	COM	00548A106	2,833	172,630	SH		SOLE		172,630	0	0
Adaptimmune Therapeutics plc	SPONSORED ADR	00653A107	705	100,000	SH		SOLE		600,000	0	0
Advanced Accelerator Applications S.A.	SPONSORED ADR	00790T100	39,194	1,029,247	SH		SOLE		2,058,494	0	0
Aeglea BioTherapeutics, Inc.	COM	00773J103	2,591	404,230	SH		SOLE		404,230	0	0
Aerie Pharmaceuticals, Inc.	COM	00771V108	11,298	299,356	SH		SOLE		299,356	0	0
Affimed N.V.	COM	N01045108	1,112	400,000	SH		SOLE		400,000	0	0
Agios Pharmaceuticals, Inc.	COM	00847X104	10,982	207,915	SH		SOLE		207,915	0	0
Aimmune Therapeutics, Inc.	COM	00900T107	10,109	673,908	SH		SOLE		673,908	0	0
Akari Therapeutics plc	SPONSORED ADR	00972G108	4,229	496,901	SH		SOLE		49,690,100	0	0
Alcobra Ltd.	SHS	M2239P109	5,771	2,336,359	SH		SOLE		2,336,359	0	0
Alder BioPharmaceuticals, Inc.	COM	014339105	7,122	217,328	SH		SOLE		217,328	0	0
Aldeyra Therapeutics, Inc.	COM	01438T106	1,110	142,000	SH		SOLE		142,000	0	0
Alexion Pharmaceuticals, Inc.	COM	015351109	801,815	6,543,295	SH		SOLE		6,543,295	0	0
Alkermes plc	SHS	G01767105	11,769	250,251	SH		SOLE		250,251	0	0
Alnylam Pharmaceuticals, Inc.	COM	02043Q107	769	11,340	SH		SOLE		11,340	0	0
Amarin Corporation plc	SPONSORED ADR NEW	023111206	65,811	20,630,477	SH		SOLE		20,630,477	0	0
Aptose Biosciences Inc.	COM NEW	03835T200	909	404,211	SH		SOLE		404,211	0	0
Aquinox Pharmaceuticals, Inc.	COM	03842B101	140,762	10,536,092	SH		SOLE		10,536,092	0	0
Arbutus Biopharma Corporation	COM	03879J100	621	180,582	SH		SOLE		180,582	0	0
Array BioPharma Inc.	COM	04269X105	22,347	3,310,666	SH		SOLE		3,310,666	0	0
Arrowhead Pharmaceuticals, Inc.	COM	04280A100	13,649	1,856,967	SH		SOLE		1,856,967	0	0
Ascendis Pharma A/S	SPONSORED ADR	04351P101	14,985	745,521	SH		SOLE		745,521	0	0
Assembly Biosciences, Inc.	COM	045396108	1,803	250,000	SH		SOLE		250,000	0	0
BeiGene, Ltd.	SPONSORED ADR	07725L102	58,930	1,912,680	SH		SOLE		24,864,840	0	0
Bellicum Pharmaceuticals, Inc.	COM	079481107	96,826	4,865,647	SH		SOLE		4,865,647	0	0
BioCryst Pharmaceuticals, Inc.	COM	09058V103	48,351	10,963,944	SH		SOLE		10,963,944	0	0
BioDelivery Sciences International, Inc.	COM	09060J106	567	210,021	SH		SOLE		210,021	0	0
BioMarin Pharmaceutical Inc.	COM	09061G101	444,696	4,806,483	SH		SOLE		4,806,483	0	0
BioTime, Inc.	*W EXP 10/1/201	09066L162	17	20,084	SH		SOLE		20,084	0	0
bluebird bio, Inc.	COM	09609G100	19,923	293,943	SH		SOLE		293,943	0	0
Catalyst Pharmaceuticals, Inc.	COM	14888U101	5,561	5,102,153	SH		SOLE		5,102,153	0	0
Cellectis S.A.	SPONSORED ADS	15117K103	1,204	50,000	SH		SOLE		50,000	0	0
Cerus Corporation	COM	157085101	81,061	13,053,275	SH		SOLE		13,053,275	0	0
ChemoCentryx, Inc.	COM	16383L106	296	49,064	SH		SOLE		49,064	0	0
Chimerix, Inc.	COM	16934W106	638	115,216	SH		SOLE		115,216	0	0
CoLucid Pharmaceuticals, Inc.	COM	19716T101	1,156	30,310	SH		SOLE		30,310	0	0
Concert Pharmaceuticals, Inc.	COM	206022105	3,205	316,976	SH		SOLE		316,976	0	0
ContraFect Corporation	COM	212326102	10,034	4,045,876	SH		SOLE		4,045,876	0	0
Cyclacel Pharmaceuticals, Inc.	PFD CONV EX 6%	23254L207	90	13,253	SH		SOLE		13,253	0	0
CytRx Corporation	COM PAR $.001	232828509	388	659,995	SH		SOLE		659,995	0	0
DBV Technologies S.A.	SPONSORED ADR	23306J101	200,162	5,509,560	SH		SOLE		2,754,780	0	0
Derma Sciences, Inc.	COM PAR $.01	249827502	17,524	3,752,390	SH		SOLE		3,752,390	0	0
Dermira, Inc.	COM	24983L104	11,040	326,428	SH		SOLE		326,428	0	0
Dimension Therapeutics, Inc.	COM	25433V105	10,003	1,251,881	SH		SOLE		1,251,881	0	0
Dynavax Technologies Corporation	COM NEW	268158201	787	75,000	SH		SOLE		75,000	0	0
Enanta Pharmaceuticals, Inc.	COM	29251M106	2,005	75,357	SH		SOLE		75,357	0	0
Endocyte, Inc.	COM	29269A102	2,685	868,983	SH		SOLE		868,983	0	0
Epizyme, Inc.	COM	29428V104	2,288	232,481	SH		SOLE		232,481	0	0
Exelixis, Inc.	COM	30161Q104	63,048	4,929,494	SH		SOLE		4,929,494	0	0
Five Prime Therapeutics, Inc.	COM	33830X104	1,010	19,247	SH		SOLE		19,247	0	0
Foamix Pharmaceuticals Ltd.	SHS	M46135105	22,842	2,466,702	SH		SOLE		2,466,702	0	0
Foundation Medicine, Inc.	COM	350465100	488	20,892	SH		SOLE		20,892	0	0
Fulgent Genetics, Inc.	COM	359664109	1,153	125,000	SH		SOLE		125,000	0	0
Galapagos NV	SPONSORED ADR	36315X101	16,805	259,894	SH		SOLE		259,894	0	0
Genomic Health, Inc.	COM	37244C101	398,237	13,770,302	SH		SOLE		13,770,302	0	0
GlycoMimetics, Inc.	COM	38000Q102	2,726	381,235	SH		SOLE		381,235	0	0
Halozyme Therapeutics, Inc.	COM	40637H109	20,911	1,731,057	SH		SOLE		1,731,057	0	0
Heron Therapeutics, Inc.	COM	427746102	49,230	2,857,250	SH		SOLE		2,857,250	0	0
Idera Pharmaceuticals, Inc.	COM NEW	45168K306	17,956	7,014,015	SH		SOLE		7,014,015	0	0
Ignyta, Inc.	COM	451731103	3,592	571,000	SH		SOLE		571,000	0	0
Immune Design Corp.	COM	45252L103	1,129	148,937	SH		SOLE		148,937	0	0
ImmunoGen, Inc.	COM	45253H101	8,081	3,015,353	SH		SOLE		3,015,353	0	0
Incyte Corporation	COM	45337C102	2,215,711	23,498,898	SH		SOLE		23,498,898	0	0
Infinity Pharmaceuticals, Inc.	COM	45665G303	905	580,400	SH		SOLE		580,400	0	0
Insmed Incorporated	COM PAR $.01	457669307	5,808	400,000	SH		SOLE		400,000	0	0
Intellia Therapeutics, Inc.	COM	45826J105	18,077	1,062,120	SH		SOLE		1,062,120	0	0
Intra-Cellular Therapies, Inc.	COM	46116X101	9,284	609,166	SH		SOLE		609,166	0	0
Invitae Corporation	COM	46185L103	57,422	6,554,967	SH		SOLE		6,554,967	0	0
InVivo Therapeutics Holdings Corp.	COM NEW	46186M209	2,720	400,000	SH		SOLE		400,000	0	0
Ionis Pharmaceuticals, Inc.	COM	462222100	2,094	57,140	SH		SOLE		57,140	0	0
Juno Therapeutics, Inc.	COM	48205A109	2,401	80,000	SH		SOLE		80,000	0	0
Karyopharm Therapeutics Inc.	COM	48576U106	2,111	216,990	SH		SOLE		216,990	0	0
La Jolla Pharmaceutical Company	COM PAR $.0001 2	503459604	327	13,746	SH		SOLE		13,746	0	0
Ligand Pharmaceuticals Incorporated	COM NEW	53220K504	7,490	73,386	SH		SOLE		73,386	0	0
Loxo Oncology, Inc.	COM	548862101	3,606	137,735	SH		SOLE		137,735	0	0
MacroGenics, Inc.	COM	556099109	10,878	363,676	SH		SOLE		363,676	0	0
Madrigal Pharmaceuticals, Inc.	COM	558868105	732	57,762	SH		SOLE		57,762	0	0
Mast Therapeutics, Inc.	COM	576314108	944	8,584,051	SH		SOLE		8,584,051	0	0
Medgenics, Inc.	COM NEW	58436Q203	4,905	880,539	SH		SOLE		880,539	0	0
MediWound Ltd.	ORD SHS	M68830104	1,740	226,000	SH		SOLE		226,000	0	0
Merus N.V.	COM	N5749R100	19,430	1,160,014	SH		SOLE		1,160,014	0	0
Minerva Neurosciences, Inc.	COM	603380106	3,653	258,805	SH		SOLE		258,805	0	0
Mirati Therapeutics, Inc.	COM	60468T105	14,999	2,269,198	SH		SOLE		2,269,198	0	0
MyoKardia, Inc.	COM	62857M105	1,634	100,000	SH		SOLE		100,000	0	0
Nabriva Therapeutics AG	SPONSORED ADR	62957M104	2,468	350,000	SH		SOLE		35,000	0	0
Natera, Inc.	COM	632307104	5,000	450,000	SH		SOLE		450,000	0	0
Neurocrine Biosciences, Inc.	COM	64125C109	45,344	895,422	SH		SOLE		895,422	0	0
NeuroDerm Ltd.	ORD SHS	M74231107	5,639	305,000	SH		SOLE		305,000	0	0
Ophthotech Corporation	COM	683745103	1,644	35,649	SH		SOLE		35,649	0	0
Osiris Therapeutics, Inc.	COM	68827R108	2,476	499,193	SH		SOLE		499,193	0	0
Palatin Technologies, Inc.	COM PAR $.01	696077403	1,289	2,050,000	SH		SOLE		2,050,000	0	0
Progenics Pharmaceuticals, Inc.	COM	743187106	23,110	3,650,808	SH		SOLE		3,650,808	0	0
ProNAi Therapeutics, Inc.	COM	74346L101	364	200,000	SH		SOLE		200,000	0	0
ProQR Therapeutics N.V.	SHS EURO	N71542109	5,739	860,464	SH		SOLE		860,464	0	0
Proteon Therapeutics, Inc.	COM	74371L109	2,786	298,591	SH		SOLE		298,591	0	0
Ritter Pharmaceuticals, Inc.	COM	767836109	672	400,000	SH		SOLE		400,000	0	0
Sage Therapeutics, Inc.	COM	78667J108	9,594	208,328	SH		SOLE		208,328	0	0
Sangamo BioSciences, Inc.	COM	800677106	18,779	4,055,876	SH		SOLE		4,055,876	0	0
SCYNEXIS, Inc.	COM	811292101	1,810	467,600	SH		SOLE		467,600	0	0
Seattle Genetics, Inc.	COM	812578102	2,381,857	44,100,294	SH		SOLE		44,100,294	0	0
Selecta Biosciences, Inc.	COM	816212104	2,550	178,950	SH		SOLE		178,950	0	0
Seres Therapeutics, Inc.	COM	81750R102	1,536	125,000	SH		SOLE		125,000	0	0
Spark Therapeutics, Inc.	COM	84652J103	79,180	1,318,341	SH		SOLE		1,318,341	0	0
Stemline Therapeutics, Inc.	COM	85858C107	3,612	333,497	SH		SOLE		333,497	0	0
Sunesis Pharmaceuticals, Inc.	COM PAR	867328700	3,241	741,665	SH		SOLE		741,665	0	0
Syros Pharmaceuticals, Inc.	COM	87184Q107	2,836	204,465	SH		SOLE		204,465	0	0
Tenax Therapeutics, Inc.	COM	88032L100	972	420,000	SH		SOLE		420,000	0	0
TG Therapeutics, Inc.	COM	88322Q108	15,511	2,003,991	SH		SOLE		2,003,991	0	0
Trevena, Inc.	COM	89532E109	3,038	450,000	SH		SOLE		450,000	0	0
Trillium Therapeutics Inc.	COM NEW	89620X506	6,120	413,697	SH		SOLE		413,697	0	0
Ultragenyx Pharmaceutical Inc.	COM	90400D108	7,094	100,000	SH		SOLE		100,000	0	0
uniQure N.V.	SHS	N90064101	1,760	230,000	SH		SOLE		230,000	0	0
Versartis, Inc.	COM	92529L102	26,145	2,134,247	SH		SOLE		2,134,247	0	0
Vitae Pharmaceuticals, Inc.	COM	92847N103	13,339	637,597	SH		SOLE		637,597	0	0
Windtree Therapeutics, Inc.	COM	97382D105	653	254,973	SH		SOLE		254,973	0	0
Xencor, Inc.	COM	98401F105	21,357	872,072	SH		SOLE		872,072	0	0
Zogenix, Inc.	COM NEW	98978L204	11,430	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	62,830	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	17,432	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	3,561	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	101,405	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	14,630	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	69,135	72,758,000	PRN		SOLE		72,758,000	0	0
Incyte Corporation Notes 0.375% 11/15/2018 144A	NOTE 0.375% 11/15/2018	45337CAK8	491,344	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	531,244	274,500,000	PRN		SOLE		274,500,000	0	0
Inotek Pharmaceuticals Corporation Notes 5.75% 8/1/2021	NOTE 5.75% 8/1/2021	45780VAB8	6,708	5,000,000	PRN		SOLE		5,000,000	0	0
Protalix BioTherapeutics, Inc. Notes 4.5% 9/15/18	NOTE 4.5% 9/15/2018	74365AAB7	2,294	3,423,000	PRN		SOLE		3,423,000	0	0