Q3 2025 · 13F-HR
BAKER BROS. ADVISORS LPholdings as filed
Filed 2025-11-14 · accession 0001104659-25-112595
$13.84B
Reported value
91
Positions
2025-09-30
Period end
The Brief · BAKER BROS. ADVISORS LP · Q3 2025
AI · grounded in 13F
BAKER BROS. ADVISORS LP established a new position in BeOne Medicines Ltd. ONC valued at $2.99B. The fund also initiated new stakes in Incyte Corporation INCY for $2.6B and Madrigal Pharmaceuticals, Inc. MDGL for $982.3M. Additional new positions include Insmed Incorporated INSM and ACADIA Pharmaceuticals Inc. ACAD.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 07725L102 | ONC | BeOne Medicines Ltd. | $3.00B | 21.7% | 8,799,053 | Common | SOLE |
| 45337C102 | INCY | Incyte Corporation | $2.61B | 18.8% | 30,743,663 | Common | SOLE |
| 558868105 | MDGL | Madrigal Pharmaceuticals, Inc. | $982.3M | 7.10% | 2,141,701 | Common | SOLE |
| 457669307 | INSM | Insmed Incorporated | $965.4M | 6.98% | 6,703,484 | Common | SOLE |
| 004225108 | ACAD | ACADIA Pharmaceuticals Inc. | $915.4M | 6.61% | 42,896,690 | Common | SOLE |
| 86627T108 | SMMT | Summit Therapeutics Inc. | $696.7M | 5.03% | 33,722,974 | Common | SOLE |
| 76243J105 | RYTM | Rhythm Pharmaceuticals, Inc. | $566.0M | 4.09% | 5,604,483 | Common | SOLE |
| 76155X100 | RVMD | Revolution Medicines, Inc. | $441.6M | 3.19% | 9,455,357 | Common | SOLE |
| 15102K100 | CELC | Celcuity Inc. | $391.0M | 2.83% | 7,915,792 | Common | SOLE |
| 501575104 | KYMR | Kymera Therapeutics, Inc. | $376.5M | 2.72% | 6,651,429 | Common | SOLE |
| 50015M109 | KOD | Kodiak Sciences Inc. | $283.4M | 2.05% | 17,310,490 | Common | SOLE |
| G01767105 | ALKS | Alkermes plc | $242.7M | 1.75% | 8,091,351 | Common | SOLE |
| 00288U106 | ABCL | AbCellera Biologics Inc. | $138.5M | 1.00% | 27,525,640 | Common | SOLE |
| 28036F105 | EWTX | Edgewise Therapeutics, Inc. | $118.5M | 0.86% | 7,305,940 | Common | SOLE |
| G52694109 | KNSA | Kiniksa Pharmaceuticals International, plc | $109.7M | 0.79% | 2,824,669 | Common | SOLE |
| 86150R107 | STOK | Stoke Therapeutics, Inc. | $108.9M | 0.79% | 4,633,838 | Common | SOLE |
| N44445109 | IMTX | Immatics N.V. | $103.0M | 0.74% | 12,094,094 | Common | SOLE |
| 384747101 | GRAL | GRAIL, Inc. | $96.4M | 0.70% | 1,630,125 | Common | SOLE |
| 45166A102 | IDYA | IDEAYA Biosciences, Inc. | $89.1M | 0.64% | 3,275,444 | Common | SOLE |
| 45258J102 | IMVT | Immunovant, Inc. | $88.0M | 0.64% | 5,457,881 | Common | SOLE |
| 45258D105 | IMCR | Immunocore Holdings plc | $84.4M | 0.61% | 2,322,656 | Common | SOLE |
| 088786108 | BCYC | Bicycle Therapeutics plc | $84.3M | 0.61% | 10,885,357 | Common | SOLE |
| 90400D108 | RARE | Ultragenyx Pharmaceutical Inc. | $83.4M | 0.60% | 2,772,692 | Common | SOLE |
| 00370M103 | ABVX | Abivax S.A. | $74.4M | 0.54% | 875,796 | Common | SOLE |
| 04280A100 | ARWR | Arrowhead Pharmaceuticals, Inc. | $57.6M | 0.42% | 1,670,762 | Common | SOLE |
| G76279101 | ROIV | Roivant Sciences Ltd. | $57.0M | 0.41% | 3,767,773 | Common | SOLE |
| 24823R105 | DNLI | Denali Therapeutics Inc. | $54.2M | 0.39% | 3,731,695 | Common | SOLE |
| N5749R100 | 2GH | Merus N.V. | $54.1M | 0.39% | 574,377 | Common | SOLE |
| 45826J105 | NTLA | Intellia Therapeutics, Inc. | $47.4M | 0.34% | 2,746,674 | Common | SOLE |
| 76029N106 | REPL | Replimune Group, Inc. | $46.3M | 0.33% | 11,045,336 | Common | SOLE |
| 75383L102 | RAPP | Rapport Therapeutics, Inc. | $45.9M | 0.33% | 1,547,090 | Common | SOLE |
| 86366E106 | GPCR | Structure Therapeutics Inc. | $43.6M | 0.31% | 1,556,109 | Common | SOLE |
| 15102KAA8 | CELC 2.75 08/01/31 | Celcuity Inc. | $40.9M | 0.30% | 30,750,000 | Common | SOLE |
| 92790C104 | VRDN | Viridian Therapeutics, Inc. | $37.6M | 0.27% | 1,744,406 | Common | SOLE |
| 462222100 | IONS | Ionis Pharmaceuticals, Inc. | $37.1M | 0.27% | 566,798 | Common | SOLE |
| 74006W207 | PRAX | Praxis Precision Medicines, Inc. | $36.5M | 0.26% | 689,488 | Common | SOLE |
| 61225M102 | GLUE | Monte Rosa Therapeutics, Inc. | $36.4M | 0.26% | 4,916,095 | Common | SOLE |
| 09075V102 | BNTX | BioNTech SE | $36.4M | 0.26% | 368,923 | Common | SOLE |
| 67080M103 | NRIX | Nurix Therapeutics, Inc. | $35.9M | 0.26% | 3,882,125 | Common | SOLE |
| 252828108 | DNTH | Dianthus Therapeutics, Inc. | $31.1M | 0.22% | 789,759 | Common | SOLE |
| 29384C108 | TRDA | Entrada Therapeutics, Inc. | $28.2M | 0.20% | 4,865,819 | Common | SOLE |
| 04016X101 | ARGX | argenx SE | $27.9M | 0.20% | 37,760 | Common | SOLE |
| 05370A108 | RNAGBP | Avidity Biosciences, Inc. | $27.2M | 0.20% | 625,000 | Common | SOLE |
| 92243G108 | PCVX | Vaxcyte, Inc. | $23.1M | 0.17% | 640,885 | Common | SOLE |
| 254604101 | IRON | Disc Medicine, Inc. | $22.3M | 0.16% | 337,050 | Common | SOLE |
| 171757206 | CDTX | Cidara Therapeutics, Inc. | $21.8M | 0.16% | 227,272 | Common | SOLE |
| 15117B202 | CLDX | Celldex Therapeutics, Inc. | $17.2M | 0.12% | 665,370 | Common | SOLE |
| 64135M105 | NGNE | Neurogene Inc. | $17.2M | 0.12% | 991,691 | Common | SOLE |
| 81749D107 | SERA | Sera Prognostics, Inc. | $16.8M | 0.12% | 5,498,170 | Common | SOLE |
| 00773J202 | SYRE | Spyre Therapeutics, Inc. | $16.8M | 0.12% | 1,000,000 | Common | SOLE |
| 157085101 | CERS | Cerus Corporation | $15.9M | 0.11% | 10,008,345 | Common | SOLE |
| 00973Y108 | AKRO | Akero Therapeutics, Inc. | $15.4M | 0.11% | 324,630 | Common | SOLE |
| 98420N105 | XENE | Xenon Pharmaceuticals Inc. | $14.9M | 0.11% | 370,208 | Common | SOLE |
| 23306J309 | DBVT | DBV Technologies S.A. | $14.6M | 0.11% | 1,461,425 | Common | SOLE |
| 74065P101 | PRLD | Prelude Therapeutics Inc. | $14.6M | 0.11% | 10,123,824 | Common | SOLE |
| 03940C100 | ACLXGBX | Arcellx, Inc. | $13.7M | 0.10% | 166,825 | Common | SOLE |
| 23284F105 | CTMX | CytomX Therapeutics, Inc. | $13.6M | 0.10% | 4,250,826 | Common | SOLE |
| 877619106 | TSHA | Taysha Gene Therapies, Inc. | $13.1M | 0.09% | 4,004,756 | Common | SOLE |
| 98401F105 | XNCR | Xencor, Inc. | $12.9M | 0.09% | 1,102,106 | Common | SOLE |
| 25056L103 | DSGN | Design Therapeutics, Inc. | $12.9M | 0.09% | 1,712,882 | Common | SOLE |
| 670703107 | NUVL | Nuvalent, Inc. | $12.4M | 0.09% | 143,937 | Common | SOLE |
| 829401108 | SION | Sionna Therapeutics, Inc. | $11.8M | 0.09% | 400,000 | Common | SOLE |
| 22663K107 | CRNX | Crinetics Pharmaceuticals, Inc. | $11.7M | 0.08% | 280,000 | Common | SOLE |
| 92686J106 | VKTX | Viking Therapeutics, Inc. | $9.6M | 0.07% | 366,083 | Common | SOLE |
| N69605108 | PHVS | Pharvaris N.V. | $9.4M | 0.07% | 375,000 | Common | SOLE |
| 00847X104 | AGIO | Agios Pharmaceuticals, Inc. | $7.6M | 0.06% | 189,866 | Common | SOLE |
| 799566104 | SANA | Sana Biotechnology, Inc. | $7.2M | 0.05% | 2,030,949 | Common | SOLE |
| 786700104 | SGMT | Sagimet Biosciences Inc. | $6.5M | 0.05% | 952,996 | Common | SOLE |
| 022307102 | ALMS | Alumis Inc. | $6.2M | 0.05% | 1,562,500 | Common | SOLE |
| 75943R102 | RLAY | Relay Therapeutics, Inc. | $6.1M | 0.04% | 1,160,117 | Common | SOLE |
| 83086J200 | SKYE | Skye Bioscience, Inc. | $5.7M | 0.04% | 1,450,638 | Common | SOLE |
| 427746102 | HRTX | Heron Therapeutics, Inc. | $5.4M | 0.04% | 4,251,951 | Common | SOLE |
| 89854M101 | TCRX | TScan Therapeutics, Inc. | $5.1M | 0.04% | 2,784,792 | Common | SOLE |
| 55287L101 | MBX | MBX Biosciences, Inc. | $4.9M | 0.04% | 277,777 | Common | SOLE |
| 918385204 | VTVT | vTv Therapeutics, Inc. | $3.5M | 0.03% | 148,314 | Common | SOLE |
| 92332V107 | VTYXUSD | Ventyx Biosciences, Inc. | $3.2M | 0.02% | 1,023,130 | Common | SOLE |
| 50180M108 | LBRX | LB Pharmaceuticals Inc. | $3.2M | 0.02% | 200,000 | Common | SOLE |
| 92764N102 | VIR | Vir Biotechnology, Inc. | $3.1M | 0.02% | 542,539 | Common | SOLE |
| Y95308105 | WVE | Wave Life Sciences Ltd. | $2.5M | 0.02% | 344,063 | Common | SOLE |
| 29337E102 | ELVN | Enliven Therapeutics, Inc. | $2.4M | 0.02% | 114,833 | Common | SOLE |
| 74365U107 | TARA | Protara Therapeutics, Inc. | $2.3M | 0.02% | 536,832 | Common | SOLE |
| 878972108 | TECX | Tectonic Therapeutic, Inc. | $1.6M | 0.01% | 100,000 | Common | SOLE |
| 483119202 | KALAEUR | KALA BIO, Inc. | $1.5M | 0.01% | 985,093 | Common | SOLE |
| 37148K209 | — | Generation Bio Co. | $1.2M | 0.01% | 194,493 | Common | SOLE |
| 21217B100 | CTNM | Contineum Therapeutics, Inc. | $912,623 | 0.01% | 77,670 | Common | SOLE |
| 01626L204 | ALGS | Aligos Therapeutics, Inc. | $813,939 | 0.01% | 83,055 | Common | SOLE |
| 92941V308 | VYNE | VYNE Therapeutics Inc. | $285,203 | 0.00% | 851,353 | Common | SOLE |
| 90240B106 | TYRA | Tyra Biosciences, Inc. | $148,392 | 0.00% | 10,607 | Common | SOLE |
| 004890109 | ACRV | Acrivon Therapeutics, Inc. | $41,284 | 0.00% | 22,809 | Common | SOLE |
| 86889P117 | SRZNW | Surrozen, Inc. | $14,833 | 0.00% | 833,333 | Common | SOLE |
| 68386J208 | OPTEY | Opthea Limited | $0 | — | 2,087,320 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.