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
Abeona Therapeutics Inc.	COM	00289Y107	28,718	1,684,364	SH		SOLE		1,684,364	0	0
ACADIA Pharmaceuticals Inc.	COM	004225108	972,631	25,819,768	SH		SOLE		25,819,768	0	0
Acceleron Pharma Inc.	COM	00434H108	6,117	163,900	SH		SOLE		163,900	0	0
Achaogen, Inc.	COM	004449104	61,996	3,886,878	SH		SOLE		3,886,878	0	0
Achillion Pharmaceuticals, Inc.	COM	00448Q201	8,336	1,856,637	SH		SOLE		1,856,637	0	0
Acorda Therapeutics, Inc.	COM	00484M106	12,286	519,500	SH		SOLE		519,500	0	0
Adamas Pharmaceuticals, Inc.	COM	00548A106	3,655	172,630	SH		SOLE		172,630	0	0
Adaptimmune Therapeutics plc	SPONSORED ADR	00653A107	819	100,000	SH		SOLE		600,000	0	0
Advanced Accelerator Applications S.A.	SPONSORED ADS	00790T100	151,689	2,243,262	SH		SOLE		4,486,524	0	0
Aeglea BioTherapeutics, Inc.	COM	00773J103	5,609	1,137,872	SH		SOLE		1,137,872	0	0
Aerie Pharmaceuticals, Inc.	COM	00771V108	14,549	299,356	SH		SOLE		299,356	0	0
Aevi Genomic Medicine, Inc.	COM	00835P105	5,728	4,546,426	SH		SOLE		4,546,426	0	0
Affimed N.V.	COM	N01045108	900	400,000	SH		SOLE		400,000	0	0
Agios Pharmaceuticals, Inc.	COM	00847X104	8,588	128,666	SH		SOLE		128,666	0	0
Aimmune Therapeutics, Inc.	COM	00900T107	16,706	673,908	SH		SOLE		673,908	0	0
Akari Therapeutics plc	SPONSORED ADR	00972G108	3,051	496,901	SH		SOLE		49,690,100	0	0
Albireo Pharma, Inc.	COM	01345P106	4,190	200,000	SH		SOLE		200,000	0	0
Alexion Pharmaceuticals, Inc.	COM	015351109	1,200,022	8,553,864	SH		SOLE		8,553,864	0	0
Alkermes plc	SHS	G01767105	7,639	150,251	SH		SOLE		150,251	0	0
Amarin Corporation plc	SPONSORED ADR NEW	023111206	79,343	22,669,509	SH		SOLE		22,669,509	0	0
AnaptysBio, Inc.	COM	032724106	3,893	111,386	SH		SOLE		111,386	0	0
Aquinox Pharmaceuticals, Inc.	COM	03842B101	155,156	10,934,154	SH		SOLE		10,934,154	0	0
Arbutus Biopharma Corporation	COM	03879J100	1,120	180,582	SH		SOLE		180,582	0	0
argenx SE	SPONSORED ADR	04016X101	2,261	100,000	SH		SOLE		100,000	0	0
Array BioPharma Inc.	COM	04269X105	64,126	5,213,528	SH		SOLE		5,213,528	0	0
Ascendis Pharma A/S	SPONSORED ADR	04351P101	85,145	2,348,840	SH		SOLE		2,348,840	0	0
Assembly Biosciences, Inc.	COM	045396108	8,730	250,000	SH		SOLE		250,000	0	0
AveXis, Inc.	COM	05366U100	74,966	775,000	SH		SOLE		775,000	0	0
BeiGene, Ltd.	SPONSORED ADR	07725L102	403,332	3,898,431	SH		SOLE		50,679,603	0	0
Bellicum Pharmaceuticals, Inc.	COM	079481107	58,123	5,032,313	SH		SOLE		5,032,313	0	0
BioCryst Pharmaceuticals, Inc.	COM	09058V103	73,346	13,997,172	SH		SOLE		13,997,172	0	0
BioDelivery Sciences International, Inc.	COM	09060J106	620	210,021	SH		SOLE		210,021	0	0
BioMarin Pharmaceutical Inc.	COM	09061G101	549,641	5,905,673	SH		SOLE		5,905,673	0	0
BioPharmX Corporation	COM	09072X101	171	598,758	SH		SOLE		598,758	0	0
BioTime, Inc.	*W EXP 10/1/201	09066L162	4	20,084	SH		SOLE		20,084	0	0
bluebird bio, Inc.	COM	09609G100	33,162	241,441	SH		SOLE		241,441	0	0
Catalyst Pharmaceuticals, Inc.	COM	14888U101	12,857	5,102,153	SH		SOLE		5,102,153	0	0
Cellectis S.A.	SPONSORED ADS	15117K103	1,423	50,000	SH		SOLE		50,000	0	0
Cerus Corporation	COM	157085101	26,604	9,745,209	SH		SOLE		9,745,209	0	0
ChemoCentryx, Inc.	COM	16383L106	364	49,064	SH		SOLE		49,064	0	0
Clementia Pharmaceuticals Inc.	COM ADDED	185575107	4,223	250,000	SH		SOLE		250,000	0	0
ContraFect Corporation	COM	212326102	7,940	7,153,076	SH		SOLE		7,153,076	0	0
Cyclacel Pharmaceuticals, Inc.	PFD CONV EX 6%	23254L207	98	13,253	SH		SOLE		13,253	0	0
CymaBay Therapeutics, Inc.	COM	23257D103	24,114	2,991,775	SH		SOLE		2,991,775	0	0
DBV Technologies S.A.	SPONSORED ADR	23306J101	233,826	5,509,560	SH		SOLE		2,754,780	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	1,613	75,000	SH		SOLE		75,000	0	0
Epizyme, Inc.	COM	29428V104	4,429	232,481	SH		SOLE		232,481	0	0
Exelixis, Inc.	COM	30161Q104	50,447	2,082,012	SH		SOLE		2,082,012	0	0
Five Prime Therapeutics, Inc.	COM	33830X104	787	19,247	SH		SOLE		19,247	0	0
Foamix Pharmaceuticals Ltd.	SHS	M46135105	13,690	2,466,702	SH		SOLE		2,466,702	0	0
Fulgent Genetics, Inc.	COM	359664109	599	125,000	SH		SOLE		125,000	0	0
Galapagos NV	SPONSORED ADR	36315X101	26,444	259,894	SH		SOLE		259,894	0	0
Genomic Health, Inc.	COM	37244C101	442,215	13,780,480	SH		SOLE		13,780,480	0	0
GlycoMimetics, Inc.	COM	38000Q102	7,881	563,312	SH		SOLE		563,312	0	0
GW Pharmaceuticals plc	ADS	36197T103	7,612	75,000	SH		SOLE		900,000	0	0
Halozyme Therapeutics, Inc.	COM	40637H109	27,469	1,581,424	SH		SOLE		1,581,424	0	0
Heron Therapeutics, Inc.	COM	427746102	45,026	2,787,992	SH		SOLE		2,787,992	0	0
Idera Pharmaceuticals, Inc.	COM NEW	45168K306	22,984	10,306,757	SH		SOLE		10,306,757	0	0
Ignyta, Inc.	COM	451731103	16,045	1,299,199	SH		SOLE		1,299,199	0	0
Immune Design Corp.	COM	45252L103	1,541	148,937	SH		SOLE		148,937	0	0
ImmunoGen, Inc.	COM	45253H101	20,567	2,688,489	SH		SOLE		2,688,489	0	0
Incyte Corporation	COM	45337C102	3,996,048	34,230,323	SH		SOLE		34,230,323	0	0
Infinity Pharmaceuticals, Inc.	COM	45665G303	772	580,400	SH		SOLE		580,400	0	0
Insmed Incorporated	COM PAR $.01	457669307	21,847	700,000	SH		SOLE		700,000	0	0
Intellia Therapeutics, Inc.	COM	45826J105	26,394	1,062,120	SH		SOLE		1,062,120	0	0
Intra-Cellular Therapies, Inc.	COM	46116X101	9,613	609,166	SH		SOLE		609,166	0	0
Invitae Corporation	COM	46185L103	68,292	7,288,300	SH		SOLE		7,288,300	0	0
InVivo Therapeutics Holdings Corp.	COM NEW	46186M209	580	400,000	SH		SOLE		400,000	0	0
Jounce Therapeutics, Inc.	COM	481116101	1,558	100,000	SH		SOLE		100,000	0	0
Karyopharm Therapeutics Inc.	COM	48576U106	2,383	216,990	SH		SOLE		216,990	0	0
Krystal Biotech, Inc.	COM ADDED	501147102	1,994	200,000	SH		SOLE		200,000	0	0
La Jolla Pharmaceutical Company	COM PAR $.0001 2	503459604	5,380	154,675	SH		SOLE		154,675	0	0
Ligand Pharmaceuticals Incorporated	COM NEW	53220K504	9,992	73,386	SH		SOLE		73,386	0	0
Loxo Oncology, Inc.	COM	548862101	8,849	96,062	SH		SOLE		96,062	0	0
MacroGenics, Inc.	COM	556099109	6,721	363,676	SH		SOLE		363,676	0	0
Madrigal Pharmaceuticals, Inc.	COM	558868105	2,598	57,762	SH		SOLE		57,762	0	0
MediWound Ltd.	ORD SHS	M68830104	1,209	226,000	SH		SOLE		226,000	0	0
Merus N.V.	COM	N5749R100	23,049	1,160,014	SH		SOLE		1,160,014	0	0
Mirati Therapeutics, Inc.	COM	60468T105	26,549	2,269,198	SH		SOLE		2,269,198	0	0
Molecular Templates, Inc.	COM ADDED	608550109	505	72,412	SH		SOLE		72,412	0	0
MyoKardia, Inc.	COM	62857M105	15,223	355,264	SH		SOLE		355,264	0	0
Nabriva Therapeutics plc	SHS	G63637105	7,684	938,235	SH		SOLE		938,235	0	0
Natera, Inc.	COM	632307104	2,948	228,676	SH		SOLE		228,676	0	0
Neurocrine Biosciences, Inc.	COM	64125C109	37,790	616,682	SH		SOLE		616,682	0	0
NeuroDerm Ltd.	ORD SHS	M74231107	22,238	571,667	SH		SOLE		571,667	0	0
Newlink Genetics Corporation	COM	651511107	10,254	1,007,273	SH		SOLE		1,007,273	0	0
Novavax, Inc.	COM	670002104	2,280	2,000,000	SH		SOLE		2,000,000	0	0
Ovid Therapeutics Inc.	COM	690469101	2,857	333,333	SH		SOLE		333,333	0	0
Progenics Pharmaceuticals, Inc.	COM	743187106	23,190	3,150,808	SH		SOLE		3,150,808	0	0
Proteon Therapeutics, Inc.	COM	74371L109	597	298,591	SH		SOLE		298,591	0	0
Ra Pharmaceuticals, Inc.	COM	74933V108	2,598	177,952	SH		SOLE		177,952	0	0
Rigel Pharmaceuticals, Inc.	COM NEW	766559603	6,398	2,518,882	SH		SOLE		2,518,882	0	0
Ritter Pharmaceuticals, Inc.	COM	767836109	980	2,800,000	SH		SOLE		2,800,000	0	0
Sage Therapeutics, Inc.	COM	78667J108	25,262	405,485	SH		SOLE		405,485	0	0
Sangamo Therapeutics, Inc.	COM	800677106	31,701	2,113,376	SH		SOLE		2,113,376	0	0
Seattle Genetics, Inc.	COM	812578102	2,487,928	45,725,556	SH		SOLE		45,725,556	0	0
Selecta Biosciences, Inc.	COM	816212104	5,289	289,809	SH		SOLE		289,809	0	0
Spark Therapeutics, Inc.	COM	84652J103	123,409	1,384,130	SH		SOLE		1,384,130	0	0
Spring Bank Pharmaceuticals, Inc.	COM	849431101	6,284	373,144	SH		SOLE		373,144	0	0
Stemline Therapeutics, Inc.	COM	85858C107	7,032	633,497	SH		SOLE		633,497	0	0
Sunesis Pharmaceuticals, Inc.	COM PAR	867328700	1,439	741,665	SH		SOLE		741,665	0	0
Syros Pharmaceuticals, Inc.	COM	87184Q107	8,462	574,835	SH		SOLE		574,835	0	0
T2 Biosystems, Inc.	COM	89853L104	420	100,000	SH		SOLE		100,000	0	0
Tenax Therapeutics, Inc.	COM	88032L100	126	348,374	SH		SOLE		348,374	0	0
Tetraphase Pharmaceuticals, Inc.	COM	88165N105	6,395	935,000	SH		SOLE		935,000	0	0
Tonix Pharmaceuticals Holdings Corp.	COM	890260409	3,190	699,500	SH		SOLE		699,500	0	0
Trevena, Inc.	COM	89532E109	2,423	950,000	SH		SOLE		950,000	0	0
Trillium Therapeutics Inc.	COM NEW	89620X506	2,131	413,697	SH		SOLE		413,697	0	0
Vanda Pharmaceuticals Inc.	COM	921659108	7,588	423,884	SH		SOLE		423,884	0	0
Versartis, Inc.	COM	92529L102	3,521	1,437,214	SH		SOLE		1,437,214	0	0
Voyager Therapeutics, Inc.	COM	92915B106	4,880	237,014	SH		SOLE		237,014	0	0
Xencor, Inc.	COM	98401F105	19,988	872,072	SH		SOLE		872,072	0	0
Acorda Therapeutics, Inc.	NOTE 1.75% 6/15/2021	00484MAA4	31,574	35,083,000	PRN		SOLE		35,083,000	0	0
Aegerion Pharmaceuticals, Inc.	NOTE 2.0% 8/15/2019	00767EAB8	7,576	9,517,000	PRN		SOLE		9,517,000	0	0
Array BioPharma Inc.	NOTE 3.0% 6/1/2020	04269XAA3	5,410	3,000,000	PRN		SOLE		3,000,000	0	0
BioMarin Pharmaceutical Inc.	NOTE 0.75% 10/15/2018	09061GAE1	13,634	12,228,000	PRN		SOLE		12,228,000	0	0
BioMarin Pharmaceutical Inc.	NOTE 0.599% 8/1/2024 ADDED	09061GAH4	15,193	15,000,000	PRN		SOLE		15,000,000	0	0
Inotek Pharmaceuticals Corporation	NOTE 5.75% 8/1/2021	45780VAB8	3,904	5,000,000	PRN		SOLE		5,000,000	0	0
Novavax, Inc.	NOTE 3.75% 2/1/2023	670002AB0	39,536	88,500,000	PRN		SOLE		88,500,000	0	0
Protalix BioTherapeutics, Inc.	NOTE 4.5% 9/15/2018	74365AAB7	2,576	3,423,000	PRN		SOLE		3,423,000	0	0