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	31,452	1,984,364	SH		SOLE		1,984,364	0	0
Ablynx NV	SPONSORED ADR	00372Y105	103,986	4,161,118	SH		SOLE		4,161,118	0	0
ACADIA Pharmaceuticals Inc.	COM	004225108	819,845	27,228,338	SH		SOLE		27,228,338	0	0
Acceleron Pharma Inc.	COM	00434H108	6,956	163,900	SH		SOLE		163,900	0	0
Achaogen, Inc.	COM	004449104	1,315	122,482	SH		SOLE		122,482	0	0
Achillion Pharmaceuticals, Inc.	COM	00448Q201	8,227	2,856,637	SH		SOLE		2,856,637	0	0
Acorda Therapeutics, Inc.	COM	00484M106	4,418	205,966	SH		SOLE		205,966	0	0
Adamas Pharmaceuticals, Inc.	COM	00548A106	5,850	172,630	SH		SOLE		172,630	0	0
Adaptimmune Therapeutics plc	SPONSORED ADR	00653A107	668	100,000	SH		SOLE		600,000	0	0
Advanced Accelerator Applications S.A.	SPONSORED ADS	00790T100	4,499	55,125	SH		SOLE		110,250	0	0
Aeglea BioTherapeutics, Inc.	COM	00773J103	6,156	1,137,872	SH		SOLE		1,137,872	0	0
Aerie Pharmaceuticals, Inc.	COM	00771V108	17,887	299,356	SH		SOLE		299,356	0	0
Aevi Genomic Medicine, Inc.	COM	00835P105	4,866	4,055,142	SH		SOLE		4,055,142	0	0
Affimed N.V.	COM	N01045108	520	400,000	SH		SOLE		400,000	0	0
Agios Pharmaceuticals, Inc.	COM	00847X104	7,356	128,666	SH		SOLE		128,666	0	0
Aimmune Therapeutics, Inc.	COM	00900T107	25,487	673,908	SH		SOLE		673,908	0	0
Akari Therapeutics Plc	SPONSORED ADR	00972G108	3,018	696,901	SH		SOLE		69,690,100	0	0
Albireo Pharma, Inc.	COM	01345P106	5,120	200,000	SH		SOLE		200,000	0	0
Alexion Pharmaceuticals, Inc.	COM	015351109	1,022,957	8,553,864	SH		SOLE		8,553,864	0	0
Alkermes plc	SHS	G01767105	8,223	150,251	SH		SOLE		150,251	0	0
Amarin Corporation plc	SPONSORED ADR NEW	023111206	90,905	22,669,509	SH		SOLE		22,669,509	0	0
AnaptysBio, Inc.	COM	032724106	18,269	181,386	SH		SOLE		181,386	0	0
Aquinox Pharmaceuticals, Inc.	COM	03842B101	128,586	10,934,154	SH		SOLE		10,934,154	0	0
Arbutus Biopharma Corporation	COM	03879J100	912	180,582	SH		SOLE		180,582	0	0
argenx SE	SPONSORED ADR	04016X101	60,725	961,754	SH		SOLE		961,754	0	0
Array BioPharma Inc.	COM	04269X105	72,399	5,656,196	SH		SOLE		5,656,196	0	0
Ascendis Pharma A/S	SPONSORED ADR	04351P101	104,910	2,618,818	SH		SOLE		2,618,818	0	0
Assembly Biosciences, Inc.	COM	045396108	14,603	322,727	SH		SOLE		322,727	0	0
AveXis, Inc.	COM	05366U100	85,769	775,000	SH		SOLE		775,000	0	0
BeiGene, Ltd.	SPONSORED ADR	07725L102	376,147	3,849,231	SH		SOLE		50,040,003	0	0
Bellicum Pharmaceuticals, Inc.	COM	079481107	42,322	5,032,313	SH		SOLE		5,032,313	0	0
BioCryst Pharmaceuticals, Inc.	COM	09058V103	68,726	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	676,184	7,583,084	SH		SOLE		7,583,084	0	0
BioTime, Inc.	*W EXP 10/1/201	09066L162	2	20,084	SH		SOLE		20,084	0	0
bluebird bio, Inc.	COM	09609G100	35,620	200,000	SH		SOLE		200,000	0	0
Catalyst Pharmaceuticals, Inc.	COM	14888U101	22,882	5,852,153	SH		SOLE		5,852,153	0	0
Cellectis S.A.	SPONSORED ADS	15117K103	1,458	50,000	SH		SOLE		50,000	0	0
Cerus Corporation	COM	157085101	32,939	9,745,209	SH		SOLE		9,745,209	0	0
ChemoCentryx, Inc.	COM	16383L106	292	49,064	SH		SOLE		49,064	0	0
Clementia Pharmaceuticals Inc.	COM	185575107	4,745	250,000	SH		SOLE		250,000	0	0
ContraFect Corporation	COM	212326102	7,225	7,153,076	SH		SOLE		7,153,076	0	0
Corbus Pharmaceuticals Holdings, Inc.	COM	21833P103	4,691	660,714	SH		SOLE		660,714	0	0
Cyclacel Pharmaceuticals, Inc.	PFD CONV EX 6%	23254L207	92	13,253	SH		SOLE		13,253	0	0
CymaBay Therapeutics, Inc.	COM	23257D103	27,524	2,991,775	SH		SOLE		2,991,775	0	0
DBV Technologies S.A.	SPONSORED ADR	23306J101	135,535	5,509,560	SH		SOLE		2,754,780	0	0
Dynavax Technologies Corporation	COM NEW	268158201	1,403	75,000	SH		SOLE		75,000	0	0
Endocyte, Inc.	COM	29269A102	4,654	1,087,323	SH		SOLE		1,087,323	0	0
Epizyme, Inc.	COM	29428V104	2,918	232,481	SH		SOLE		232,481	0	0
Erytech Pharma S.A.	SPONSORED ADR	29604W108	68,043	3,090,069	SH		SOLE		3,090,069	0	0
Exelixis, Inc.	COM	30161Q104	45,798	1,506,499	SH		SOLE		1,506,499	0	0
Five Prime Therapeutics, Inc.	COM	33830X104	422	19,247	SH		SOLE		19,247	0	0
Foamix Pharmaceuticals Ltd.	SHS	M46135105	14,825	2,466,702	SH		SOLE		2,466,702	0	0
Fulgent Genetics, Inc.	COM	359664109	548	125,000	SH		SOLE		125,000	0	0
Galapagos NV	SPONSORED ADR	36315X101	24,368	259,894	SH		SOLE		259,894	0	0
Genomic Health, Inc.	COM	37244C101	471,314	13,781,102	SH		SOLE		13,781,102	0	0
GlycoMimetics, Inc.	COM	38000Q102	9,458	563,312	SH		SOLE		563,312	0	0
GW Pharmaceuticals plc	ADS	36197T103	29,280	221,800	SH		SOLE		2,661,600	0	0
Halozyme Therapeutics, Inc.	COM	40637H109	32,040	1,581,424	SH		SOLE		1,581,424	0	0
Heron Therapeutics, Inc.	COM	427746102	55,398	3,060,641	SH		SOLE		3,060,641	0	0
Idera Pharmaceuticals, Inc.	COM NEW	45168K306	38,646	18,315,802	SH		SOLE		18,315,802	0	0
Ignyta, Inc.	COM	451731103	36,960	1,384,266	SH		SOLE		1,384,266	0	0
Immune Design Corp.	COM	45252L103	581	148,937	SH		SOLE		148,937	0	0
ImmunoGen, Inc.	COM	45253H101	16,432	2,563,489	SH		SOLE		2,563,489	0	0
Incyte Corporation	COM	45337C102	3,241,973	34,230,523	SH		SOLE		34,230,523	0	0
Infinity Pharmaceuticals, Inc.	COM	45665G303	1,178	580,400	SH		SOLE		580,400	0	0
InflaRx N.V.	COM	N44821101	4,190	200,000	SH		SOLE		200,000	0	0
Insmed Incorporated	COM PAR $.01	457669307	21,826	700,000	SH		SOLE		700,000	0	0
Intellia Therapeutics, Inc.	COM	45826J105	22,016	1,145,453	SH		SOLE		1,145,453	0	0
Intra-Cellular Therapies, Inc.	COM	46116X101	8,821	609,166	SH		SOLE		609,166	0	0
Invitae Corporation	COM	46185L103	66,178	7,288,300	SH		SOLE		7,288,300	0	0
InVivo Therapeutics Holdings Corp.	COM NEW	46186M209	255	331,393	SH		SOLE		331,393	0	0
Jounce Therapeutics, Inc.	COM	481116101	1,275	100,000	SH		SOLE		100,000	0	0
Karyopharm Therapeutics Inc.	COM	48576U106	2,083	216,990	SH		SOLE		216,990	0	0
Krystal Biotech, Inc.	COM	501147102	2,104	200,000	SH		SOLE		200,000	0	0
La Jolla Pharmaceutical Company	COM PAR $.0001 2	503459604	4,977	154,675	SH		SOLE		154,675	0	0
Ligand Pharmaceuticals Incorporated	COM NEW	53220K504	10,049	73,386	SH		SOLE		73,386	0	0
MacroGenics, Inc.	COM	556099109	6,910	363,676	SH		SOLE		363,676	0	0
Madrigal Pharmaceuticals, Inc.	COM	558868105	56,514	615,684	SH		SOLE		615,684	0	0
MediWound Ltd.	ORD SHS	M68830104	1,006	226,000	SH		SOLE		226,000	0	0
Merus N.V.	COM	N5749R100	22,504	1,160,014	SH		SOLE		1,160,014	0	0
Mirati Therapeutics, Inc.	COM	60468T105	46,528	2,549,461	SH		SOLE		2,549,461	0	0
Molecular Templates, Inc.	COM	608550109	726	72,412	SH		SOLE		72,412	0	0
MyoKardia, Inc.	COM	62857M105	14,957	355,264	SH		SOLE		355,264	0	0
Nabriva Therapeutics plc	SHS	G63637105	5,611	938,235	SH		SOLE		938,235	0	0
Natera, Inc.	COM	632307104	2,056	228,676	SH		SOLE		228,676	0	0
Nektar Therapeutics	COM	640268108	10,268	171,934	SH		SOLE		171,934	0	0
Neurocrine Biosciences, Inc.	COM	64125C109	77,949	1,004,624	SH		SOLE		1,004,624	0	0
NewLink Genetics Corporation	COM	651511107	8,169	1,007,273	SH		SOLE		1,007,273	0	0
Novavax, Inc.	COM	670002104	2,480	2,000,000	SH		SOLE		2,000,000	0	0
Ovid Therapeutics Inc.	COM	690469101	3,290	333,333	SH		SOLE		333,333	0	0
Progenics Pharmaceuticals, Inc.	COM	743187106	18,747	3,150,808	SH		SOLE		3,150,808	0	0
Proteon Therapeutics, Inc.	COM	74371L109	567	298,591	SH		SOLE		298,591	0	0
Ra Pharmaceuticals, Inc.	COM	74933V108	1,513	177,952	SH		SOLE		177,952	0	0
Rhythm Pharmaceuticals, Inc.	COM	76243J105	59,545	2,049,020	SH		SOLE		2,049,020	0	0
Rigel Pharmaceuticals, Inc.	COM NEW	766559603	9,773	2,518,882	SH		SOLE		2,518,882	0	0
Ritter Pharmaceuticals, Inc.	COM	767836109	922	2,800,000	SH		SOLE		2,800,000	0	0
Sage Therapeutics, Inc.	COM	78667J108	101,546	616,514	SH		SOLE		616,514	0	0
Sangamo Therapeutics, Inc.	COM	800677106	34,659	2,113,376	SH		SOLE		2,113,376	0	0
Seattle Genetics, Inc.	COM	812578102	2,446,317	45,725,556	SH		SOLE		45,725,556	0	0
Selecta Biosciences, Inc.	COM	816212104	2,783	283,716	SH		SOLE		283,716	0	0
Spark Therapeutics, Inc.	COM	84652J103	71,172	1,384,130	SH		SOLE		1,384,130	0	0
Spring Bank Pharmaceuticals, Inc.	COM	849431101	5,015	373,144	SH		SOLE		373,144	0	0
Stemline Therapeutics, Inc.	COM	85858C107	9,883	633,497	SH		SOLE		633,497	0	0
Sunesis Pharmaceuticals, Inc.	COM PAR	867328700	2,737	741,665	SH		SOLE		741,665	0	0
Syros Pharmaceuticals, Inc.	COM	87184Q107	5,593	574,835	SH		SOLE		574,835	0	0
T2 Biosystems, Inc.	COM	89853L104	412	100,000	SH		SOLE		100,000	0	0
Tenax Therapeutics, Inc.	COM	88032L100	171	348,374	SH		SOLE		348,374	0	0
Tetraphase Pharmaceuticals, Inc.	COM	88165N105	5,891	935,000	SH		SOLE		935,000	0	0
Tonix Pharmaceuticals Holdings Corp.	COM	890260409	2,413	699,500	SH		SOLE		699,500	0	0
Trevena, Inc.	COM	89532E109	1,520	950,000	SH		SOLE		950,000	0	0
Trillium Therapeutics Inc.	COM NEW	89620X506	2,968	409,323	SH		SOLE		409,323	0	0
uniQure N.V.	SHS	N90064101	9,453	482,557	SH		SOLE		482,557	0	0
Vanda Pharmaceuticals Inc.	COM	921659108	6,443	423,884	SH		SOLE		423,884	0	0
Versartis, Inc.	COM	92529L102	3,138	1,426,310	SH		SOLE		1,426,310	0	0
Xencor, Inc.	COM	98401F105	19,116	872,072	SH		SOLE		872,072	0	0
Acorda Therapeutics, Inc.	NOTE 1.75% 6/15/2021	00484MAA4	29,751	35,083,000	PRN		SOLE		35,083,000	0	0
Aegerion Pharmaceuticals, Inc.	NOTE 2.0% 8/15/2019	00767EAB8	7,566	9,517,000	PRN		SOLE		9,517,000	0	0
BioMarin Pharmaceutical Inc.	NOTE 0.75% 10/15/2018	09061GAE1	13,218	12,228,000	PRN		SOLE		12,228,000	0	0
BioMarin Pharmaceutical Inc.	NOTE 0.599% 8/1/2024	09061GAH4	14,928	15,000,000	PRN		SOLE		15,000,000	0	0
INOTEK Technologies Corp.	NOTE 5.75% 8/1/2021	45780VAB8	4,009	5,000,000	PRN		SOLE		5,000,000	0	0
Novavax, Inc.	Note 3.75% 2/1/2023	670002AB0	40,863	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