Incyte investors led by Baker Brothers buy additional shares

By Lisa Kerner

Charlotte, N.C., Dec. 23 - Baker Brothers Investments II, LP upped its stake in Incyte Corp. to 16.1%, it was reported in a schedule 13D/A filed with the Securities and Exchange Commission.

According to the filing, Baker Brothers and its affiliates purchased 988,522 share of Incyte between Dec. 17 and Dec. 22 at prices from $3.15 to $3.25 each.

The investors beneficially own 16,457,692 shares, including shares that may be acquired upon conversion of 3.5% convertible subordinated notes due 2011 at the conversion price of $11.2185 and shares that may be acquired upon exercise of stock options.

Incyte is a biopharmaceutical company located in Wilmington, Del.

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