13D Filing: Baker Bros. Advisors and Bellicum Pharmaceuticals Inc (NASDAQ:BLCM)

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, 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.

(a) and (b) Items 7 through 11 and 13 of each
of the cover pages of this Amendment No. 2 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 32,905,565 shares of Common
Stock that will be outstanding following the Offering including 750,000 shares issued as part of the Underwriters option, as reported
in the Issuer’s Prospectus filed with the SEC on March 24, 2017. Such percentage figures were calculated in accordance with
Rule 13d-3 under the Securities Exchange Act of 1934, as amended.

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
of the Issuer held by each of the Funds, and this Amendment No. 2 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.