Incyte investors led by Baker Brothers buy additional 2 million shares

By Lisa Kerner

Charlotte, N.C., Sept. 30 - Baker Brothers Investments II, LP upped its stake in Incyte Corp. to 19.999% with the purchase of 2 million shares on Sept. 24 for $6.75 each, according to a schedule 13D/A filed with the Securities and Exchange Commission on Wednesday.

The investors beneficially own 25,505,036 shares, including shares that may be acquired upon conversion of Incyte's 4.75% convertible subordinated notes due 2015 at the conversion price of $8.78 and shares that may be acquired upon exercise of stock options, the filing said.

Incyte is a biopharmaceutical company located in Wilmington, Del.

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