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Livermore
Livermore
ZHEN

Baker Bros. Advisors LP

SEC CIK
0001263508
Latest filing
Aug 14, 2026

Holdings in Q2 2025

Holdings as of Jun 30, 2025, filed Aug 14, 2025. Long positions only; changes compare share counts with Q1 2025.

Institution overview
Positions
89
0 vs. Q1 2025
Portfolio value
$10.3B
+$1.27B (+14.1%) vs. Q1 2025
Filed
Aug 14, 2025
SEC
Holdings of Baker Bros. Advisors LP in Q2 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
ONCBeOne Medicines Ltd.ADR8,799,053$2.13B20.7%00.0%UnchangedHistory
INCYIncyte CorpCOM30,743,275$2.09B20.3%+3,3220.0%AddedHistory
ACADAcadia Pharmaceuticals IncCOM42,896,690$925.3M9.0%+18,7740.0%AddedHistory
INSMINSMED IncCOM PAR $.017,712,900$776.2M7.5%+2,332,274+43.3%AddedHistory
SMMTSummit Therapeutics Inc.COM33,722,974$717.6M7.0%+9,298,109+38.1%AddedHistory
MDGLMadrigal Pharmaceuticals, Inc.COM1,976,018$598.0M5.8%+1,428+0.1%AddedHistory
RYTMRhythm Pharmaceuticals, Inc.COM5,604,483$354.1M3.4%00.0%UnchangedHistory
RVMDRevolution Medicines, Inc.COM9,364,972$344.5M3.3%+1,428,000+18.0%AddedHistory
KYMRKymera Therapeutics, Inc.COM6,651,429$290.3M2.8%+655,500+10.9%AddedHistory
ALKSAlkermes plc.SHS6,410,603$183.4M1.8%+1,927,318+43.0%AddedHistory
REPLReplimune Group, Inc.COM11,045,336$102.6M1.0%00.0%UnchangedHistory
RAREUltragenyx Pharmaceutical Inc.COM2,772,692$100.8M1.0%+1,196,578+75.9%AddedHistory
EWTXEdgewise Therapeutics, Inc.COM7,305,940$95.8M0.9%+1,150,000+18.7%AddedHistory
ABCLAbCellera Biologics Inc.COM27,525,640$94.4M0.9%00.0%UnchangedHistory
IMVTImmunovant, Inc.COM5,457,881$87.3M0.8%00.0%UnchangedHistory
GRALGRAIL, Inc.COM1,630,125$83.8M0.8%00.0%UnchangedHistory
KNSAKiniksa Pharmaceuticals International, plcORD SHS CL A2,824,669$78.2M0.8%+6,346+0.2%AddedHistory
BCYCBicycle Therapeutics PLCSPONSORED ADS10,885,357$75.7M0.7%00.0%UnchangedHistory
IMCRImmunocore Holdings plcADS2,322,656$72.9M0.7%00.0%UnchangedHistory
CELCCelcuity Inc.COM5,450,445$72.8M0.7%+1,192,710+28.0%AddedHistory
KODKodiak Sciences Inc.COM17,310,490$64.6M0.6%00.0%UnchangedHistory
IMTXImmatics N.V.SHS10,168,901$54.7M0.5%+2,893,071+39.8%AddedHistory
STOKStoke Therapeutics, Inc.COM4,633,838$52.6M0.5%00.0%UnchangedHistory
DNLIDenali Therapeutics Inc.COM3,731,695$52.2M0.5%00.0%UnchangedHistory
GPCRStructure Therapeutics Inc.SPONSORED ADS2,508,767$52.0M0.5%+2,147,202+593.9%AddedHistory
IDYAIDEAYA Biosciences, Inc.COM2,118,728$44.5M0.4%+1,056,605+99.5%AddedHistory
NRIXNurix Therapeutics, Inc.COM3,882,125$44.2M0.4%00.0%UnchangedHistory
ROIVRoivant Sciences Ltd.SHS3,767,773$42.5M0.4%00.0%UnchangedHistory
BNTXBioNTech SESPONSORED ADS368,923$39.3M0.4%+323,892+719.3%AddedHistory
TRDAEntrada Therapeutics, Inc.COM4,865,819$32.7M0.3%00.0%UnchangedHistory
MRUSMerus N.V.COM574,377$30.2M0.3%+350,877+157.0%AddedHistory
PRAXPraxis Precision Medicines, Inc.COM NEW689,488$29.0M0.3%+357,955+108.0%AddedHistory
NTLAIntellia Therapeutics, Inc.COM2,675,674$25.1M0.2%+2,031,558+315.4%AddedHistory
VRDNViridian Therapeutics, Inc.COM1,744,406$24.4M0.2%+1,744,406NewHistory
GLUEMonte Rosa Therapeutics, Inc.COM4,916,095$22.2M0.2%00.0%UnchangedHistory
VRNAVerona Pharma plcSPONSORED ADS223,843$21.2M0.2%00.0%UnchangedHistory
PCVXVaxcyte, Inc.COM640,885$20.8M0.2%00.0%UnchangedHistory
ARGXArgenx SESPONSORED ADR37,760$20.8M0.2%−40,000−51.4%ReducedHistory
VERVVerve Therapeutics, Inc.COM1,691,530$19.0M0.2%00.0%UnchangedHistory
CERSCerus CorpCOM12,883,844$18.2M0.2%−6,467,243−33.4%ReducedHistory
IRONDisc Medicine, Inc.COM337,050$17.9M0.2%+260,000+337.4%AddedHistory
AKROAkero Therapeutics, Inc.COM324,630$17.3M0.2%−224,083−40.8%ReducedHistory
BPMCBlueprint Medicines CorpCOM125,538$16.1M0.2%+125,538NewHistory
SERASera Prognostics, Inc.CLASS A COM5,498,170$15.2M0.1%00.0%UnchangedHistory
ARWRArrowhead Pharmaceuticals, Inc.COM939,174$14.8M0.1%+939,174NewHistory
NGNENeurogene Inc.COM991,691$14.8M0.1%−494,509−33.3%ReducedHistory
DNTHDianthus Therapeutics, Inc.COM789,759$14.7M0.1%+789,759NewHistory
CLDXCelldex Therapeutics, Inc.COM NEW665,370$13.5M0.1%+417,726+168.7%AddedHistory
DBVTDBV Technologies S.A.SPONSORED ADS1,461,425$13.4M0.1%00.0%UnchangedHistory
XENEXenon Pharmaceuticals Inc.COM370,208$11.6M0.1%+22,800+6.6%AddedHistory
CDTXCidara Therapeutics, Inc.COM NEW227,272$11.1M0.1%+227,272NewHistory
ACLXArcellx, Inc.COMMON STOCK166,825$11.0M0.1%+166,825NewHistory
NUVLNuvalent, Inc.COM143,937$11.0M0.1%+143,937NewHistory
SYRESpyre Therapeutics, Inc.COM NEW626,703$9.38M0.1%+626,703NewHistory
TSHATaysha Gene Therapies, Inc.COM SHS4,004,756$9.25M0.1%00.0%UnchangedHistory
PRLDPrelude Therapeutics IncCOM10,123,824$8.19M0.1%00.0%UnchangedHistory
CRNXCrinetics Pharmaceuticals, Inc.COM280,000$8.05M0.1%+280,000NewHistory
CTMXCytomX Therapeutics, Inc.COM3,484,226$7.91M0.1%+3,484,226NewHistory
SGMTSagimet Biosciences Inc.COM SER A952,996$7.26M0.1%00.0%UnchangedHistory
SIONSionna Therapeutics, Inc.COM400,000$6.94M0.1%00.0%UnchangedHistory
AGIOAgios Pharmaceuticals, Inc.COM189,866$6.31M0.1%+189,866NewHistory
RAPPRapport Therapeutics, Inc.COM550,090$6.25M0.1%+550,090NewHistory
SKYESkye Bioscience, Inc.COM NEW1,450,638$6.06M0.1%00.0%UnchangedHistory
DSGNDesign Therapeutics, Inc.COM1,712,882$5.77M0.1%−30,843−1.8%ReducedHistory
KALAKALA BIO, Inc.COMM STK1,201,894$5.72M0.1%00.0%UnchangedHistory
SANASana Biotechnology, Inc.COM2,030,949$5.54M0.1%00.0%UnchangedHistory
XNCRXencor IncCOM670,431$5.27M0.1%00.0%UnchangedHistory
ALMSAlumis Inc.COM1,562,500$4.69M<0.1%00.0%UnchangedHistory
IGMSIGM Biosciences, Inc.COM4,096,210$4.59M<0.1%+9530.0%AddedHistory
TCRXTScan Therapeutics, Inc.COM2,784,792$4.04M<0.1%00.0%UnchangedHistory
RLAYRelay Therapeutics, Inc.COM1,160,117$4.01M<0.1%00.0%UnchangedHistory
FATEFate Therapeutics IncCOM2,485,018$2.78M<0.1%−773,384−23.7%ReducedHistory
VIRVir Biotechnology, Inc.COM542,539$2.73M<0.1%00.0%UnchangedHistory
ELVNEnliven Therapeutics, Inc.COM114,833$2.30M<0.1%00.0%UnchangedHistory
WVEWave Life Sciences, Inc.SHS344,063$2.24M<0.1%00.0%UnchangedHistory
TECXTectonic Therapeutic, Inc.COM100,000$1.99M<0.1%00.0%UnchangedHistory
CADLCandel Therapeutics, Inc.COM355,112$1.80M<0.1%−2,082,077−85.4%ReducedHistory
TARAProtara Therapeutics, Inc.COM STK536,832$1.63M<0.1%00.0%UnchangedHistory
VTVTvTv Therapeutics Inc.CL A NEW97,314$1.46M<0.1%00.0%UnchangedHistory
RCKTRocket Pharmaceuticals, Inc.COM552,079$1.35M<0.1%−545,000−49.7%ReducedHistory
CTNMContineum Therapeutics, Inc.CL A312,500$1.24M<0.1%00.0%UnchangedHistory
HOOKHOOKIPA Pharma Inc.COM812,814$1.02M<0.1%00.0%UnchangedHistory
NMRANeumora Therapeutics, Inc.COM1,034,600$758.7K<0.1%00.0%UnchangedHistory
GBIOGeneration Bio Co.COM1,944,945$622.6K<0.1%00.0%UnchangedHistory
ALGSAligos Therapeutics, Inc.COM NEW83,055$598.8K<0.1%00.0%UnchangedHistory
TYRATyra Biosciences, Inc.COM10,607$101.5K<0.1%00.0%UnchangedHistory
ACRVAcrivon Therapeutics, Inc.COMMON STOCK22,809$27.1K<0.1%00.0%UnchangedHistory
Surrozen, Inc.86889P117*W EXP 08/01/203833,333$15.1K<0.1%00.0%Unchanged–
CYVNYOpthea LtdSPONSORED ADS2,087,320$00.0%00.0%UnchangedHistory

Sold out since Q1 2025 (12)

Positions held at the end of Q1 2025 that are gone from this filing.

Positions of Baker Bros. Advisors LP sold out since Q1 2025
SecurityClassShares in Q1 2025Value in Q1 2025% of portfolio in Q1 2025History
INSMED Inc457669AB5NOTE 0.750% 6/0–$101.6M1.1%–
CRSPCRISPR Therapeutics AGNAMEN AKT654,099$22.3M0.2%History
CNTACentessa Pharmaceuticals plcSPONSORED ADS1,227,178$17.6M0.2%History
TSVT2seventy bio, Inc.COMMON STOCK2,497,526$12.3M0.1%History
BCAXBicara Therapeutics Inc.COM833,333$10.9M0.1%History
IONSIonis Pharmaceuticals IncCOM357,915$10.8M0.1%History
DYNDyne Therapeutics, Inc.COM672,096$7.03M0.1%History
RGLSRegulus Therapeutics Inc.COM2,694,044$4.71M0.1%History
PRMEPrime Medicine, Inc.COM1,028,466$2.05M<0.1%History
CMPXCompass Therapeutics, Inc.COM547,498$1.04M<0.1%History
CYPHCypherpunk Technologies Inc.COM NEW404,744$123.5K<0.1%History
IPSCCentury Therapeutics, Inc.COM241,684$115.0K<0.1%History