13F HOLDINGS REPORT
BAKER BROS. ADVISORS LP
Quarter ended Q3 2025 · Filed November 14, 2025 · Accession 0001104659-25-112595
Total Value
$13.84B
Positions
91
Other Managers
0
Confidential Omitted
No
Holdings (91)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | BeOne Medicines Ltd. | BEIGF | 8,799,053 | $3.00B | 21.66% |
| 2 | Incyte Corporation | INCY | 30,743,663 | $2.61B | 18.84% |
| 3 | Madrigal Pharmaceuticals, Inc. | MDGL | 2,141,701 | $982.3M | 7.10% |
| 4 | Insmed Incorporated | INSM | 6,703,484 | $965.4M | 6.98% |
| 5 | ACADIA Pharmaceuticals Inc. | ACAD | 42,896,690 | $915.4M | 6.61% |
| 6 | Summit Therapeutics Inc. | SMMT | 33,722,974 | $696.7M | 5.03% |
| 7 | Rhythm Pharmaceuticals, Inc. | RYTM | 5,604,483 | $566.0M | 4.09% |
| 8 | Revolution Medicines, Inc. | RVMDW | 9,455,357 | $441.6M | 3.19% |
| 9 | Celcuity Inc. | CELC | 7,915,792 | $391.0M | 2.83% |
| 10 | Kymera Therapeutics, Inc. | KYMR | 6,651,429 | $376.5M | 2.72% |
| 11 | Kodiak Sciences Inc. | KOD | 17,310,490 | $283.4M | 2.05% |
| 12 | Alkermes plc | ALKS | 8,091,351 | $242.7M | 1.75% |
| 13 | AbCellera Biologics Inc. | ABCL | 27,525,640 | $138.5M | 1.00% |
| 14 | Edgewise Therapeutics, Inc. | EWTX | 7,305,940 | $118.5M | 0.86% |
| 15 | Kiniksa Pharmaceuticals International, plc | G52694109 | 2,824,669 | $109.7M | 0.79% |
| 16 | Stoke Therapeutics, Inc. | STOK | 4,633,838 | $108.9M | 0.79% |
| 17 | Immatics N.V. | IMTX | 12,094,094 | $103.0M | 0.74% |
| 18 | GRAIL, Inc. | GRAL | 1,630,125 | $96.4M | 0.70% |
| 19 | IDEAYA Biosciences, Inc. | IDYA | 3,275,444 | $89.1M | 0.64% |
| 20 | Immunovant, Inc. | IMVT | 5,457,881 | $88.0M | 0.64% |
| 21 | Immunocore Holdings plc | IMCR | 2,322,656 | $84.4M | 0.61% |
| 22 | Bicycle Therapeutics plc | BCYC | 10,885,357 | $84.3M | 0.61% |
| 23 | Ultragenyx Pharmaceutical Inc. | RARE | 2,772,692 | $83.4M | 0.60% |
| 24 | Abivax S.A. | AAVXF | 875,796 | $74.4M | 0.54% |
| 25 | Arrowhead Pharmaceuticals, Inc. | ARWR | 1,670,762 | $57.6M | 0.42% |
| 26 | Roivant Sciences Ltd. | ROIV | 3,767,773 | $57.0M | 0.41% |
| 27 | Denali Therapeutics Inc. | DNLI | 3,731,695 | $54.2M | 0.39% |
| 28 | Merus N.V. | N5749R100 | 574,377 | $54.1M | 0.39% |
| 29 | Intellia Therapeutics, Inc. | NTLA | 2,746,674 | $47.4M | 0.34% |
| 30 | Replimune Group, Inc. | REPL | 11,045,336 | $46.3M | 0.33% |
| 31 | Rapport Therapeutics, Inc. | RAPP | 1,547,090 | $45.9M | 0.33% |
| 32 | Structure Therapeutics Inc. | GPCR | 1,556,109 | $43.6M | 0.31% |
| 33 | Celcuity Inc. | CELC | 30,750,000 | $40.9M | 0.30% |
| 34 | Viridian Therapeutics, Inc. | VRDN | 1,744,406 | $37.6M | 0.27% |
| 35 | Ionis Pharmaceuticals, Inc. | IONS | 566,798 | $37.1M | 0.27% |
| 36 | Praxis Precision Medicines, Inc. | PRAX | 689,488 | $36.5M | 0.26% |
| 37 | Monte Rosa Therapeutics, Inc. | GLUE | 4,916,095 | $36.4M | 0.26% |
| 38 | BioNTech SE | BNTX | 368,923 | $36.4M | 0.26% |
| 39 | Nurix Therapeutics, Inc. | NRIX | 3,882,125 | $35.9M | 0.26% |
| 40 | Dianthus Therapeutics, Inc. | DNTH | 789,759 | $31.1M | 0.22% |
| 41 | Entrada Therapeutics, Inc. | TRDA | 4,865,819 | $28.2M | 0.20% |
| 42 | argenx SE | ARGX | 37,760 | $27.9M | 0.20% |
| 43 | Avidity Biosciences, Inc. | 05370A108 | 625,000 | $27.2M | 0.20% |
| 44 | Vaxcyte, Inc. | PCVX | 640,885 | $23.1M | 0.17% |
| 45 | Disc Medicine, Inc. | IRON | 337,050 | $22.3M | 0.16% |
| 46 | Cidara Therapeutics, Inc. | 171757206 | 227,272 | $21.8M | 0.16% |
| 47 | Celldex Therapeutics, Inc. | CLDX | 665,370 | $17.2M | 0.12% |
| 48 | Neurogene Inc. | NGNE | 991,691 | $17.2M | 0.12% |
| 49 | Sera Prognostics, Inc. | SERA | 5,498,170 | $16.8M | 0.12% |
| 50 | Spyre Therapeutics, Inc. | SYRE | 1,000,000 | $16.8M | 0.12% |
| 51 | Cerus Corporation | CERS | 10,008,345 | $15.9M | 0.11% |
| 52 | Akero Therapeutics, Inc. | 00973Y108 | 324,630 | $15.4M | 0.11% |
| 53 | Xenon Pharmaceuticals Inc. | XENE | 370,208 | $14.9M | 0.11% |
| 54 | DBV Technologies S.A. | DBVTF | 1,461,425 | $14.6M | 0.11% |
| 55 | Prelude Therapeutics Inc. | PRLD | 10,123,824 | $14.6M | 0.11% |
| 56 | Arcellx, Inc. | ACLX | 166,825 | $13.7M | 0.10% |
| 57 | CytomX Therapeutics, Inc. | CTMX | 4,250,826 | $13.6M | 0.10% |
| 58 | Taysha Gene Therapies, Inc. | TSHA | 4,004,756 | $13.1M | 0.09% |
| 59 | Xencor, Inc. | XNCR | 1,102,106 | $12.9M | 0.09% |
| 60 | Design Therapeutics, Inc. | DSGN | 1,712,882 | $12.9M | 0.09% |
| 61 | Nuvalent, Inc. | NUVL | 143,937 | $12.4M | 0.09% |
| 62 | Sionna Therapeutics, Inc. | SION | 400,000 | $11.8M | 0.09% |
| 63 | Crinetics Pharmaceuticals, Inc. | CRNX | 280,000 | $11.7M | 0.08% |
| 64 | Viking Therapeutics, Inc. | VKTX | 366,083 | $9.6M | 0.07% |
| 65 | Pharvaris N.V. | PHVS | 375,000 | $9.4M | 0.07% |
| 66 | Agios Pharmaceuticals, Inc. | AGIO | 189,866 | $7.6M | 0.06% |
| 67 | Sana Biotechnology, Inc. | SANA | 2,030,949 | $7.2M | 0.05% |
| 68 | Sagimet Biosciences Inc. | SGMT | 952,996 | $6.5M | 0.05% |
| 69 | Alumis Inc. | ALMS | 1,562,500 | $6.2M | 0.05% |
| 70 | Relay Therapeutics, Inc. | RLAY | 1,160,117 | $6.1M | 0.04% |
| 71 | Skye Bioscience, Inc. | SKYE | 1,450,638 | $5.7M | 0.04% |
| 72 | Heron Therapeutics, Inc. | HRTX | 4,251,951 | $5.4M | 0.04% |
| 73 | TScan Therapeutics, Inc. | TCRX | 2,784,792 | $5.1M | 0.04% |
| 74 | MBX Biosciences, Inc. | MBX | 277,777 | $4.9M | 0.04% |
| 75 | vTv Therapeutics, Inc. | VTVT | 148,314 | $3.5M | 0.03% |
| 76 | Ventyx Biosciences, Inc. | 92332V107 | 1,023,130 | $3.2M | 0.02% |
| 77 | LB Pharmaceuticals Inc. | LBRX | 200,000 | $3.2M | 0.02% |
| 78 | Vir Biotechnology, Inc. | VIR | 542,539 | $3.1M | 0.02% |
| 79 | Wave Life Sciences Ltd. | WVE | 344,063 | $2.5M | 0.02% |
| 80 | Enliven Therapeutics, Inc. | ELVN | 114,833 | $2.4M | 0.02% |
| 81 | Protara Therapeutics, Inc. | TARA | 536,832 | $2.3M | 0.02% |
| 82 | Tectonic Therapeutic, Inc. | TECX | 100,000 | $1.6M | 0.01% |
| 83 | KALA BIO, Inc. | KALA | 985,093 | $1.5M | 0.01% |
| 84 | Generation Bio Co. | 37148K209 | 194,493 | $1.2M | 0.01% |
| 85 | Contineum Therapeutics, Inc. | CTNM | 77,670 | $912,623 | 0.01% |
| 86 | Aligos Therapeutics, Inc. | ALGS | 83,055 | $813,939 | 0.01% |
| 87 | VYNE Therapeutics Inc. | VYNE | 851,353 | $285,203 | 0.00% |
| 88 | Tyra Biosciences, Inc. | TYRA | 10,607 | $148,392 | 0.00% |
| 89 | Acrivon Therapeutics, Inc. | ACRV | 22,809 | $41,284 | 0.00% |
| 90 | Surrozen, Inc. | SRZNW | 833,333 | $14,833 | 0.00% |
| 91 | Opthea Limited | OPTEY | 2,087,320 | $0 | 0.00% |