UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

SCHEDULE 13D
Under the Securities Exchange Act of 1934

 

(Amendment No. 23)

Seattle Genetics, Inc.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)

 

	812578102
	(CUSIP Number)

 

Alexandra A. Toohey Chief Financial Officer Baker Bros. Advisors LP 667 Madison Avenue, 21st Floor New York, NY 10065 (212) 339-5690

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

	November 8, 2016
	(Date of Event which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. ¨

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

 

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (the “Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

  

SCHEDULE 13D

 

CUSIP No.   812578102

Page   2   of   14   Pages

 

1	NAMES OF REPORTING PERSONS Baker Bros. Advisors LP
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)			(a) ¨ (b) ¨
3	SEC USE ONLY
4	SOURCE OF FUNDS (See Instructions) OO
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)			¨
6	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER 45,821,116 (1)
		8	SHARED VOTING POWER 0
		9	SOLE DISPOSITIVE POWER 45,821,116 (1)
		10	SHARED DISPOSITIVE POWER 0
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 45,821,116 (1)
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)				¨
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 32.3% (1)(2)
14	TYPE OF REPORTING PERSON (See Instructions) IA, PN

(1) Includes 109,260 shares of the Issuer’s common stock underlying 109,260 options.

(2) Based on 141,552,646 shares of common stock as of October 21, 2016 as reported in the Issuer’s 10-Q filed with the SEC on October 27, 2016.

 

  

SCHEDULE 13D

 

CUSIP No.    812578102

Page   3   of   14   Pages

 

1	NAMES OF REPORTING PERSONS Baker Bros. Advisors (GP) LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)			(a) ¨ (b) ¨
3	SEC USE ONLY
4	SOURCE OF FUNDS (See Instructions) OO
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)			¨
6	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER 45,821,116 (1)
		8	SHARED VOTING POWER 0
		9	SOLE DISPOSITIVE POWER 45,821,116 (1)
		10	SHARED DISPOSITIVE POWER 0
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 45,821,116 (1)
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)				¨
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 32.3% (1)(2)
14	TYPE OF REPORTING PERSON (See Instructions) HC, OO

(1) Includes 109,260 shares of the Issuer’s common stock underlying 109,260 options.

(2) Based on 141,552,646 shares of common stock as of October 21, 2016 as reported in the Issuer’s 10-Q filed with the SEC on October 27, 2016.

 

  

SCHEDULE 13D

 

CUSIP No.   812578102

Page   4   of   14   Pages

 

1	NAMES OF REPORTING PERSONS Julian C. Baker
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)			(a) ¨ (b) ¨
3	SEC USE ONLY
4	SOURCE OF FUNDS (See Instructions) OO
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)			¨
6	CITIZENSHIP OR PLACE OF ORGANIZATION United States
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER 45,959,541(1)
		8	SHARED VOTING POWER 0
		9	SOLE DISPOSITIVE POWER 45,959,541 (1)
		10	SHARED DISPOSITIVE POWER 0
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 45,959,541 (1)
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)				¨
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 32.4% (1)(2)
14	TYPE OF REPORTING PERSON (See Instructions) IN, HC

(1) Includes 109,260 shares of the Issuer’s common stock underlying 109,260 options.

(2) Based on 141,552,646 shares of common stock as of October 21, 2016 as reported in the Issuer’s 10-Q filed with the SEC on October 27, 2016.

 

  

SCHEDULE 13D

 

CUSIP No.  812578102

Page   5   of   14    Pages

 

1	NAMES OF REPORTING PERSONS Felix J. Baker
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)			(a) ¨ (b) ¨
3	SEC USE ONLY
4	SOURCE OF FUNDS (See Instructions) OO
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)			¨
6	CITIZENSHIP OR PLACE OF ORGANIZATION United States
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER 45,959,548 (1)
		8	SHARED VOTING POWER 0
		9	SOLE DISPOSITIVE POWER 45,959,548 (1)
		10	SHARED DISPOSITIVE POWER 0
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 45,959,548 (1)
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)				¨
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 32.4% (1)(2)
14	TYPE OF REPORTING PERSON (See Instructions) IN, HC

(1) Includes 109,260 shares of the Issuer’s common stock underlying 109,260 options.

(2) Based on 141,552,646 shares of common stock as of October 21, 2016 as reported in the Issuer’s 10-Q filed with the SEC on October 27, 2016.

 

  

SCHEDULE 13D

 

CUSIP No.  812578102

Page   6   of   14    Pages

 

1	NAMES OF REPORTING PERSONS FBB2, LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)			(a) ¨ (b) ¨
3	SEC USE ONLY
4	SOURCE OF FUNDS (See Instructions) OO
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)			¨
6	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER 18,243
		8	SHARED VOTING POWER 0
		9	SOLE DISPOSITIVE POWER 18,243
		10	SHARED DISPOSITIVE POWER 0
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 18,243
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)				¨
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (1)
14	TYPE OF REPORTING PERSON (See Instructions) OO

(1) The percentage of ownership is less than 0.1%, based on 141,552,646 shares of common stock as of October 21, 2016 as reported in the Issuer’s 10-Q filed with the SEC on October 27, 2016.

 

  

SCHEDULE 13D

 

CUSIP No.  812578102

Page   7   of   14    Pages

 

1	NAMES OF REPORTING PERSONS FBB3 LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)			(a) ¨ (b) ¨
3	SEC USE ONLY
4	SOURCE OF FUNDS (See Instructions) OO
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)			¨
6	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER 12,678
		8	SHARED VOTING POWER 0
		9	SOLE DISPOSITIVE POWER 12,678
		10	SHARED DISPOSITIVE POWER 0
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 12,678
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)				¨
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (1)
14	TYPE OF REPORTING PERSON (See Instructions) OO

(1) The percentage of ownership is less than 0.1%, based on 141,552,646 shares of common stock as of October 21, 2016 as reported in the Issuer’s 10-Q filed with the SEC on October 27, 2016.

 

  

Amendment No. 23 to Schedule 13D

 

This Amendment No. 23 to Schedule 13D amends and supplements the statements on the previously filed Schedule 13D, as amended, filed by Baker Bros. Advisors LP (the “Adviser”), Baker Bros. Advisors (GP) LLC (the “Adviser GP”), Julian C. Baker, Felix J. Baker, FBB2, LLC (“FBB2”) and FBB3 LLC (“FBB3”) (collectively the “Reporting Persons). Except as supplemented herein, such statements, as heretofore amended and supplemented, remain in full force and effect. Information given in response to each item shall be deemed incorporated by reference in all other items, as applicable. Each capitalized term used but not defined herein has the meaning ascribed to such term in the Schedule 13D, as amended.

 

The Adviser GP is the sole general partner of the Adviser. Pursuant to management agreements, as amended, among the Adviser, Baker Brothers Life Sciences, L.P. (“Life Sciences”) and 667, L.P. (“667”, and together with Life Sciences, the “Funds”), and their respective general partners, the Adviser has complete and unlimited discretion and authority with respect to the Funds’ investments and voting power over investments.

 

Item 3. Source and Amount of Funds or Other Consideration.

 

Item 3 of Schedule 13D is supplemented and amended, as the case may be, as follows:

 

The disclosure regarding the purchases in Item 5(c) below is incorporated herein by reference.

 

Item 4. Purpose of the Transaction.

 

Item 4 of Schedule 13D is supplemented and superseded, as the case may be, as follows:

 

This Amendment No. 23 is being filed to report the acquisition of shares of Common Stock of Seattle Genetics, Inc. (the “Issuer”) reported in Item 5(c) that resulted in a more than 1 percent change in beneficial ownership. The disclosure regarding the purchases in Item 5(c) below is incorporated herein by reference.

 

The Funds hold securities of the Issuer for investment purposes. The Reporting Persons or their affiliates may purchase additional securities or dispose of securities in varying amounts and at varying times depending upon the Reporting Persons’ continuing assessments of pertinent factors, including the availability of shares of Common Stock or other securities for purchase at particular price levels, the business prospects of the Issuer, other business investment opportunities, economic conditions, stock market conditions, money market conditions, the attitudes and actions of the board of directors and management of the Issuer, the availability and nature of opportunities to dispose of shares in the Issuer and other plans and requirements of the particular entities. The Reporting Persons may discuss items of mutual interest with the Issuer, which could include items in subparagraphs (a) through (j) of Schedule 13D.

 

Depending upon their assessments of the above factors, the Reporting Persons or their affiliates may change their present intentions as stated above and they may assess whether to make suggestions to the management of the Issuer regarding financing, and whether to acquire additional securities of the Issuer, including shares of Common Stock (by means of open market purchases, privately negotiated purchases, exercise of some or all of the Stock Options (as defined below), or otherwise) or to dispose of some or all of the securities of the Issuer, including shares of Common Stock, under their control.

 

 

Except as otherwise disclosed herein, at the present time, the Reporting Persons do not have any plans or proposals with respect to any extraordinary corporate transaction involving the Issuer including, without limitation, those matters described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.

 

Item 5. Interest in Securities of the Issuer.

 

(a) and (b) Items 7 through 11 and 13 of each of the cover pages of this Amendment No. 23 are incorporated herein by reference. Set forth below is the aggregate number and percentage of shares of Common Stock directly held, as of the date hereof, by each of the following based upon 141,552,646 shares of common stock as of October 21, 2016 as reported in the Issuer’s 10-Q filed with the SEC on October 27, 2016. Such percentage figures were calculated in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended.

 

Holder		Number of Shares				Percentage of Class Outstanding
667, L.P.			4,830,464				3.4	%
Baker Brothers Life Sciences, L.P.			40,840,692				28.9	%

 

The Adviser GP, Felix J. Baker and Julian C. Baker as principals of the Adviser GP, and the Adviser may be deemed to be beneficial owners of securities of the Issuer directly held by the Funds, and may be deemed to have the power to vote or direct the vote of and the power to dispose or direct the disposition of such securities.

 

The Reporting Persons disclaim beneficial ownership of the securities held by each of the Funds, and this Amendment No. 23 shall not be deemed an admission that the Reporting Persons are the beneficial owners of such securities for purposes of Section 13(d) or for any other purpose, except to the extent that any such Reporting Persons actually exercises voting or dispositive power with respect to such securities.

 

Julian C. Baker and Felix J. Baker are also the sole managers of FBB2 and FBB3 and as such may be deemed to be beneficial owners of shares of Common Stock held by FBB2 and FBB3 and may be deemed to have the power to vote or direct the vote and dispose or direct the disposition of those shares.

 

Felix J. Baker is a Director of the Issuer. In connection with his service on the Issuer’s Board, Felix J. Baker holds options to purchase Common Stock of the Issuer (“Stock Options”), Common Stock and restricted stock units payable solely in Common Stock of the Issuer (“Restricted Stock”) as disclosed in previous amendments to this Schedule 13D.

 

Felix J. Baker serves on the Issuer’s Board as a representative of the Funds. The policy of the Funds and the Adviser does not permit employees of the Adviser to receive compensation for serving as a Director of the Issuer. Therefore, Felix J. Baker has no pecuniary interest in the Stock Options, Common Stock or Restricted Stock. The Funds are instead entitled to the pecuniary interest in the Stock Options, Common Stock and Restricted Stock.

 

 

The Adviser has voting and investment power over the Stock Options, Common Stock underlying such Stock Options, Restricted Stock and Common Stock held by Felix Baker received as director compensation. The Adviser GP, and Felix J. Baker and Julian C. Baker as principals of the Adviser GP, may be deemed to have the power to vote or direct the vote of and the power to dispose or direct the disposition of the Stock Options, Common Stock underlying such Stock Options, Restricted Stock and Common Stock of the Issuer held by Felix J. Baker received as director compensation.

 

(c) The following transactions in the Issuer’s Common Stock were effected by the Funds noted below during the fifty-six days preceding the filing of this statement using working capital of the applicable purchasing Fund. All purchase transactions were effected in the open market directly with a broker-dealer. Except as disclosed herein or in any previous amendments to this Schedule 13D, none of the Reporting Persons or their affiliates has effected any other transactions in securities of the Issuer during the past 60 days.

 

Name		Date		Number of Shares				Transaction		Price/Share				Footnotes
667, L.P.		11/1/2016			9,347			Purchase			54.9253				1
Baker Brothers Life Sciences, L.P.		11/1/2016			85,353			Purchase			54.9253				1
667, L.P.		11/1/2016			197			Purchase			54.6063				2
Baker Brothers Life Sciences, L.P.		11/1/2016			1,803			Purchase			54.6063				2
667, L.P.		11/1/2016			101			Purchase			54.5079				3
Baker Brothers Life Sciences, L.P.		11/1/2016			924			Purchase			54.5079				3
667, L.P.		11/1/2016			4,417			Purchase			54.3731				4
Baker Brothers Life Sciences, L.P.		11/1/2016			40,332			Purchase			54.3731				4
667, L.P.		11/1/2016			3,583			Purchase			53.6595				5
Baker Brothers Life Sciences, L.P.		11/1/2016			32,717			Purchase			53.6595				5
667, L.P.		11/1/2016			266			Purchase			53.3339				6
Baker Brothers Life Sciences, L.P.		11/1/2016			2,434			Purchase			53.3339				6
667, L.P.		11/1/2016			316			Purchase			51.8303				7
Baker Brothers Life Sciences, L.P.		11/1/2016			2,884			Purchase			51.8303				7
667, L.P.		11/2/2016			31,679			Purchase			56.2580				8
Baker Brothers Life Sciences, L.P.		11/2/2016			289,278			Purchase			56.2580				8
667, L.P.		11/2/2016			2,889			Purchase			56.1297				9
Baker Brothers Life Sciences, L.P.		11/2/2016			26,381			Purchase			56.1297				9
667, L.P.		11/2/2016			689			Purchase			56.1162				10
Baker Brothers Life Sciences, L.P.		11/2/2016			6,289			Purchase			56.1162				10
667, L.P.		11/2/2016			365			Purchase			55.8730				11
Baker Brothers Life Sciences, L.P.		11/2/2016			3,335			Purchase			55.8730				11
667, L.P.		11/2/2016			10,434			Purchase			55.8425				12
Baker Brothers Life Sciences, L.P.		11/2/2016			95,280			Purchase			55.8425				12
667, L.P.		11/3/2016			37,392			Purchase			56.9075				13
Baker Brothers Life Sciences, L.P.		11/3/2016			341,438			Purchase			56.9075				13
667, L.P.		11/3/2016			50			Purchase			56.5530				14
Baker Brothers Life Sciences, L.P.		11/3/2016			456			Purchase			56.5530				14
667, L.P.		11/3/2016			39			Purchase			56.4900				15
Baker Brothers Life Sciences, L.P.		11/3/2016			361			Purchase			56.4900				15
667, L.P.		11/3/2016			15,662			Purchase			56.4832				16
Baker Brothers Life Sciences, L.P.		11/3/2016			143,016			Purchase			56.4832				16
667, L.P.		11/3/2016			1,846			Purchase			56.4175				17
Baker Brothers Life Sciences, L.P.		11/3/2016			16,854			Purchase			56.4175				17
667, L.P.		11/3/2016			2,039			Purchase			55.9922				18
Baker Brothers Life Sciences, L.P.		11/3/2016			18,616			Purchase			55.9922				18
667, L.P.		11/7/2016			5,533			Purchase			58.7428				19
Baker Brothers Life Sciences, L.P.		11/7/2016			50,667			Purchase			58.7428				19
667, L.P.		11/8/2016			32,122			Purchase			59.4646				20
Baker Brothers Life Sciences, L.P.		11/8/2016			294,178			Purchase			59.4646				20

 

 

(1) The reported price is a weighted average price. These shares were traded in multiple transactions at a prices ranging from $54.35 to $54.99. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission (the “Staff”), upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

 

(2) The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $54.60 to $54.62. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

 

(3) The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $54.39 to $54.63. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

 

(4) The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $54.32 to $54.72. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

 

(5) The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $53.62 to $53.77. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

 

(6) The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $53.19 to $53.59. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

 

(7) The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $51.78 to $51.94. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

 

(8) The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $55.78 to $56.37. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

 

 

(9) The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $55.50 to $56.35. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

 

(10) The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $55.96 to $56.25. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

 

(11) The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $55.74 to $55.90. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

 

(12) The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $55.45 to $56.20. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

 

(13) The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $56.50 to $57.00. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

 

(14) The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $56.51 to $56.60. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

 

(15) The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $56.40 to $56.52. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

 

(16) The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $56.20 to $57.16. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

 

(17) The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $56.37 to $56.56. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

 

 

(18) The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $55.96 to $56.11. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

 

(19) The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $58.32 to $59.20. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

 

(20) The reported price is a weighted average price. These shares were traded in multiple transactions at prices ranging from $59.17 to $59.50. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the ranges set forth in this footnote.

 

(d) Certain securities of the Issuer are held directly by 667, a limited partnership the sole general partner of which is Baker Biotech Capital, L.P., a limited partnership the sole general partner of which is Baker Biotech Capital (GP), LLC. Julian C. Baker and Felix J. Baker are the controlling members of Baker Biotech Capital (GP), LLC.

 

Certain securities of the Issuer are held directly by Life Sciences, a limited partnership the sole general partner of which is Baker Brothers Life Sciences Capital, L.P., a limited partnership the sole general partner of which is Baker Brothers Life Sciences Capital (GP), LLC. Julian C. Baker and Felix J. Baker are the controlling members of Baker Brothers Life Sciences Capital (GP), LLC.

 

(e) Not applicable.

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

November 9, 2016

 

	BAKER BROS. ADVISORS LP
	By: Baker Bros. Advisors (GP) LLC, its general partner

 

	By:	/s/ Scott L. Lessing
		Name: Scott L. Lessing Title: President

 

	BAKER BROS. ADVISORS (GP) LLC
	By:	/s/ Scott L. Lessing
		Name: Scott L. Lessing Title: President

 

	/s/ Julian C. Baker
	Julian C. Baker
	/s/ Felix J. Baker
	Felix J. Baker

 

	FBB2, LLC
	By:	/s/ Julian C. Baker
		Name: Julian C. Baker
		Title: Manager

 

	FBB3 LLC
	By:	/s/ Julian C. Baker
		Name: Julian C. Baker
		Title: Manager