Aquinox Pharmaceuticals Inc (AQXP): Baker Bros. Advisors Pushes Stake to Over 45%

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A newly-amended 13D filing with the Securities and Exchange Commission revealed that Aquinox Pharmaceuticals Inc (NASDAQ:AQXP) has signed an Underwriting Agreement with Leerink Partners LLC as representatives of several underwriters, including Julian Baker and Felix Baker‘s Baker Bros. Advisors, in connection to a public offering of 5.35 million shares at a price of $12.25 per share. Following that, 667, L.P. and Baker Brothers Life Sciences acquired 294,707 shares and 2.48 million shares, respectively on September 20. Baker Bros. Advisors’ stake in the company now consists of 10.54 million shares, which amass 45.1% of the float. The stake was raised from 7.75 million shares which the fund previously held as per its 13F filing for the reporting period of June 30.

Aquinox Pharmaceuticals is a clinical-stage pharmaceutical company, engaged in the development of therapeutics to treat inflammatory illnesses and cancer. Since the beginning of the year, the company’s stock has gained 9.21%. For the second quarter of 2016, Aquinox Pharmaceuticals reported a loss per share of $0.63 and a net loss of $10.9 million, compared to a loss per share of $0.44 and a net loss of $4.8 million for the same quarter of the previous year.

Felix Baker - Baker Bros.

Among the smart money managers followed by Insider Monkey, eight reported holding long positions in Aquinox Pharmaceuticals (NASDAQ:AQXP) as of June 30, down by one from the previous quarter. Some of the bullish investors included Peter Kolchinsky’s RA Capital Management, which held a position valued at $11.20 million, Chuck Royce’s Royce & Associates, with a position worth around $1.21 million, Anand Parekh’s Alyeska Investment Group, and Israel Englander’s Millennium Management.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Baker Bros. Advisors 10,536,092 0 10,536,092 0 10,536,092 45.1%
Baker Bros. Advisors (GP) 10,536,092 0 10,536,092 0 10,536,092 45.1%
Julian C. Baker 10,538,352 0 10,538,352 0 10,538,352 45.1%
Felix J. Baker 10,538,352 0 10,538,352 0 10,538,352 45.1%

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Page 1 of 9 – SEC Filing






Under the Securities Exchange Act of

(Amendment No. 6)

Aquinox Pharmaceuticals, Inc.

(Name of Issuer)

Common Stock, par value $0.000001 per

(Title of Class of Securities)


(CUSIP number)

Alexandra A. Toohey

Chief Financial Officer

Baker Bros. Advisors LP

667 Madison Avenue, 21st Floor

New York, NY 10065

(212) 339-5690

address and telephone number of person authorized to receive notices and communications)

September 19, 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. x

(Continued on the following pages)

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 (“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).

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