BAKER BROS. ADVISORS LP Q3 2025 Filing
Filed November 14, 2025
Portfolio Value
$13.8T
Holdings
91
Report Date
Q3 2025
Filing Type
13F-HR
All Holdings (91 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | ONCBeOne Medicines Ltd. | 8,799,053 | $3.0T | 21.66% | |
| 2 | INCYIncyte Corporation | 30,743,663 | $2.6T | 18.84% | |
| 3 | MDGLMadrigal Pharmaceuticals, Inc. | 2,141,701 | $982.3B | 7.10% | |
| 4 | IM8NInsmed Incorporated | 6,703,484 | $965.4B | 6.98% | |
| 5 | ACADACADIA Pharmaceuticals Inc. | 42,896,690 | $915.4B | 6.61% | |
| 6 | SMMTSummit Therapeutics Inc. | 33,722,974 | $696.7B | 5.03% | |
| 7 | RYTMRhythm Pharmaceuticals, Inc. | 5,604,483 | $566.0B | 4.09% | |
| 8 | RVMDRevolution Medicines, Inc. | 9,455,357 | $441.6B | 3.19% | |
| 9 | CELCCelcuity Inc. | 7,915,792 | $391.0B | 2.83% | |
| 10 | KYMRKymera Therapeutics, Inc. | 6,651,429 | $376.5B | 2.72% | |
| 11 | KODKodiak Sciences Inc. | 17,310,490 | $283.4B | 2.05% | |
| 12 | ALKSAlkermes plc | 8,091,351 | $242.7B | 1.75% | |
| 13 | ABCLAbCellera Biologics Inc. | 27,525,640 | $138.5B | 1.00% | |
| 14 | EWTXEdgewise Therapeutics, Inc. | 7,305,940 | $118.5B | 0.86% | |
| 15 | KNSAKiniksa Pharmaceuticals International, plc | 2,824,669 | $109.7B | 0.79% | |
| 16 | STOKStoke Therapeutics, Inc. | 4,633,838 | $108.9B | 0.79% | |
| 17 | IMTXImmatics N.V. | 12,094,094 | $103.0B | 0.74% | |
| 18 | GRALGRAIL, Inc. | 1,630,125 | $96.4B | 0.70% | |
| 19 | IDYAIDEAYA Biosciences, Inc. | 3,275,444 | $89.1B | 0.64% | |
| 20 | IMVTImmunovant, Inc. | 5,457,881 | $88.0B | 0.64% | |
| 21 | IMCRImmunocore Holdings plc | 2,322,656 | $84.4B | 0.61% | |
| 22 | BCYCBicycle Therapeutics plc | 10,885,357 | $84.3B | 0.61% | |
| 23 | RAREUltragenyx Pharmaceutical Inc. | 2,772,692 | $83.4B | 0.60% | |
| 24 | ABVXAbivax S.A. | 875,796 | $74.4B | 0.54% | |
| 25 | ARWRArrowhead Pharmaceuticals, Inc. | 1,670,762 | $57.6B | 0.42% | |
| 26 | ROIVRoivant Sciences Ltd. | 3,767,773 | $57.0B | 0.41% | |
| 27 | DNLIDenali Therapeutics Inc. | 3,731,695 | $54.2B | 0.39% | |
| 28 | MRUSMerus N.V. | 574,377 | $54.1B | 0.39% | |
| 29 | NTLAIntellia Therapeutics, Inc. | 2,746,674 | $47.4B | 0.34% | |
| 30 | REPLReplimune Group, Inc. | 11,045,336 | $46.3B | 0.33% | |
| 31 | RAPPRapport Therapeutics, Inc. | 1,547,090 | $45.9B | 0.33% | |
| 32 | GPCRStructure Therapeutics Inc. | 1,556,109 | $43.6B | 0.31% | |
| 33 | CELC 2.75 08/01/31Celcuity Inc. | 30,750,000 | $40.9B | 0.30% | |
| 34 | VRDNViridian Therapeutics, Inc. | 1,744,406 | $37.6B | 0.27% | |
| 35 | ISIIonis Pharmaceuticals, Inc. | 566,798 | $37.1B | 0.27% | |
| 36 | PRAXPraxis Precision Medicines, Inc. | 689,488 | $36.5B | 0.26% | |
| 37 | GLUEMonte Rosa Therapeutics, Inc. | 4,916,095 | $36.4B | 0.26% | |
| 38 | BNTXBioNTech SE | 368,923 | $36.4B | 0.26% | |
| 39 | NRIXNurix Therapeutics, Inc. | 3,882,125 | $35.9B | 0.26% | |
| 40 | DNTHDianthus Therapeutics, Inc. | 789,759 | $31.1B | 0.22% | |
| 41 | TRDAEntrada Therapeutics, Inc. | 4,865,819 | $28.2B | 0.20% | |
| 42 | ARGXargenx SE | 37,760 | $27.9B | 0.20% | |
| 43 | RNAAvidity Biosciences, Inc. | 625,000 | $27.2B | 0.20% | |
| 44 | PCVXVaxcyte, Inc. | 640,885 | $23.1B | 0.17% | |
| 45 | IRONDisc Medicine, Inc. | 337,050 | $22.3B | 0.16% | |
| 46 | CDTXCidara Therapeutics, Inc. | 227,272 | $21.8B | 0.16% | |
| 47 | TCE2Celldex Therapeutics, Inc. | 665,370 | $17.2B | 0.12% | |
| 48 | NGNENeurogene Inc. | 991,691 | $17.2B | 0.12% | |
| 49 | SERASera Prognostics, Inc. | 5,498,170 | $16.8B | 0.12% | |
| 50 | SYRESpyre Therapeutics, Inc. | 1,000,000 | $16.8B | 0.12% | |
| 51 | CERSCerus Corporation | 10,008,345 | $15.9B | 0.11% | |
| 52 | AKROAkero Therapeutics, Inc. | 324,630 | $15.4B | 0.11% | |
| 53 | XENEXenon Pharmaceuticals Inc. | 370,208 | $14.9B | 0.11% | |
| 54 | DBVTDBV Technologies S.A. | 1,461,425 | $14.6B | 0.11% | |
| 55 | PRLDPrelude Therapeutics Inc. | 10,123,824 | $14.6B | 0.11% | |
| 56 | ACLXArcellx, Inc. | 166,825 | $13.7B | 0.10% | |
| 57 | CTMXCytomX Therapeutics, Inc. | 4,250,826 | $13.6B | 0.10% | |
| 58 | TSHATaysha Gene Therapies, Inc. | 4,004,756 | $13.1B | 0.09% | |
| 59 | XNCRXencor, Inc. | 1,102,106 | $12.9B | 0.09% | |
| 60 | DSGNDesign Therapeutics, Inc. | 1,712,882 | $12.9B | 0.09% | |
| 61 | NUVLNuvalent, Inc. | 143,937 | $12.4B | 0.09% | |
| 62 | SIONSionna Therapeutics, Inc. | 400,000 | $11.8B | 0.09% | |
| 63 | CRNXCrinetics Pharmaceuticals, Inc. | 280,000 | $11.7B | 0.08% | |
| 64 | VKTXViking Therapeutics, Inc. | 366,083 | $9.6B | 0.07% | |
| 65 | PHVSPharvaris N.V. | 375,000 | $9.4B | 0.07% | |
| 66 | AGIOAgios Pharmaceuticals, Inc. | 189,866 | $7.6B | 0.06% | |
| 67 | SANASana Biotechnology, Inc. | 2,030,949 | $7.2B | 0.05% | |
| 68 | SGMTSagimet Biosciences Inc. | 952,996 | $6.5B | 0.05% | |
| 69 | ALMSAlumis Inc. | 1,562,500 | $6.2B | 0.05% | |
| 70 | RLAYRelay Therapeutics, Inc. | 1,160,117 | $6.1B | 0.04% | |
| 71 | SKYESkye Bioscience, Inc. | 1,450,638 | $5.7B | 0.04% | |
| 72 | HRTXHeron Therapeutics, Inc. | 4,251,951 | $5.4B | 0.04% | |
| 73 | TCRXTScan Therapeutics, Inc. | 2,784,792 | $5.1B | 0.04% | |
| 74 | MBXMBX Biosciences, Inc. | 277,777 | $4.9B | 0.04% | |
| 75 | VTVTvTv Therapeutics, Inc. | 148,314 | $3.5B | 0.03% | |
| 76 | VTYXVentyx Biosciences, Inc. | 1,023,130 | $3.2B | 0.02% | |
| 77 | LBRXLB Pharmaceuticals Inc. | 200,000 | $3.2B | 0.02% | |
| 78 | VIRVir Biotechnology, Inc. | 542,539 | $3.1B | 0.02% | |
| 79 | WVEWave Life Sciences Ltd. | 344,063 | $2.5B | 0.02% | |
| 80 | ELVNEnliven Therapeutics, Inc. | 114,833 | $2.4B | 0.02% | |
| 81 | TARAProtara Therapeutics, Inc. | 536,832 | $2.3B | 0.02% | |
| 82 | TECXTectonic Therapeutic, Inc. | 100,000 | $1.6B | 0.01% | |
| 83 | KALAKALA BIO, Inc. | 985,093 | $1.5B | 0.01% | |
| 84 | GBIOGeneration Bio Co. | 194,493 | $1.2B | 0.01% | |
| 85 | CTNMContineum Therapeutics, Inc. | 77,670 | $912.6M | 0.01% | |
| 86 | ALGSAligos Therapeutics, Inc. | 83,055 | $813.9M | 0.01% | |
| 87 | VYNEVYNE Therapeutics Inc. | 851,353 | $285.2M | 0.00% | |
| 88 | TYRATyra Biosciences, Inc. | 10,607 | $148.4M | 0.00% | |
| 89 | ACRVAcrivon Therapeutics, Inc. | 22,809 | $41.3M | 0.00% | |
| 90 | SRZNWSurrozen, Inc. | 833,333 | $14.8M | 0.00% | |
| 91 | OPTEYOpthea Limited | 2,087,320 | $0 | 0.00% |