-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Twqzehm5LXambjjhbKVhqUj4ezX8nxFkxcFZgz8FpyQh8okTJPJlgbK+RkWhcv30 y0QK29Xq/AMWiZlzV4ZyRA== 0001047469-98-012573.txt : 19980331 0001047469-98-012573.hdr.sgml : 19980331 ACCESSION NUMBER: 0001047469-98-012573 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980330 SROS: AMEX SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NEUROGEN CORP CENTRAL INDEX KEY: 0000849043 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 222845714 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-41776 FILM NUMBER: 98579495 BUSINESS ADDRESS: STREET 1: 35 NORTHEAST INDUSTRIAL RD CITY: BRANFORD STATE: CT ZIP: 06405 BUSINESS PHONE: 2034888201 MAIL ADDRESS: STREET 1: 35 NORTHEAST INDUSTRIAL RD CITY: BRANFORD STATE: CT ZIP: 06405 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BIOTECHNOLOGY VALUE FUND L P ET AL CENTRAL INDEX KEY: 0000918923 STANDARD INDUSTRIAL CLASSIFICATION: INVESTMENT ADVICE [6282] IRS NUMBER: 363924731 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: ONE SANSOME STREET STREET 2: 39TH FLOOR CITY: SAN FRANCISCO STATE: CA ZIP: 94104 BUSINESS PHONE: 415-288-2395 MAIL ADDRESS: STREET 1: ONE SANSOME STREET STREET 2: 39TH FLOOR CITY: SAN FRANCISCO STATE: CA ZIP: 94104 SC 13D/A 1 SCHEDULE 13D SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13D (RULE 13d-101) UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 4)(1) NEUROGEN CORPORATION (Name of Issuer) COMMON STOCK (Title of Class of Securities) 64124 E 106 (CUSIP Number) Hope Flack BVF Partners L.P. 333 West Wacker Drive, Suite 1600 Chicago, Illinois 60606 (312) 263-7777 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) MARCH 17, 1998 (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 which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box / /. NOTE: Six copies of this statement, including all exhibits, should be filed with the Commission. SEE Rule 13d-1(a) for other parties to whom copies are to be sent. (Continued on following pages) (Page 1 of 7 Pages) - -------------------------------- (1) 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 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). CUSIP No. 64124 E 106 13D Page 2 of 7 Pages ----------- --- --- - ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons BIOTECHNOLOGY VALUE FUND, L.P. - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) /X/ of a Group* (b) / / - ------------------------------------------------------------------------------- (3) SEC Use Only - ------------------------------------------------------------------------------- (4) Source of Funds* WC - ------------------------------------------------------------------------------- (5) Check 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 (7) Sole Voting Power Beneficially Owned 0 by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power 795,920 -------------------------------------------------- (9) Sole Dispositive Power 0 -------------------------------------------------- (10) Shared Dispositive Power 795,920 - ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 795,920 - ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* / / - ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 5.5% - ------------------------------------------------------------------------------- (14) Type of Reporting Person* PN - ------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 64124 E 106 13D Page 3 of 7 Pages ----------- --- --- - ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons BVF PARTNERS L.P. - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) /X/ of a Group* (b) / / - ------------------------------------------------------------------------------- (3) SEC Use Only - ------------------------------------------------------------------------------- (4) Source of Funds* 00 - ------------------------------------------------------------------------------- (5) Check 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 (7) Sole Voting Power Beneficially Owned 0 by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power 1,634,306 -------------------------------------------------- (9) Sole Dispositive Power 0 -------------------------------------------------- (10) Shared Dispositive Power 1,634,306 - ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 1,634,306 - ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* / / - ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 11.4% - ------------------------------------------------------------------------------- (14) Type of Reporting Person* PN - ------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 64124 E 106 13D Page 4 of 7 Pages ----------- --- --- - ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons BVF INC. - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) /X/ of a Group* (b) / / - ------------------------------------------------------------------------------- (3) SEC Use Only - ------------------------------------------------------------------------------- (4) Source of Funds* WC,OO - ------------------------------------------------------------------------------- (5) Check 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 (7) Sole Voting Power Beneficially Owned 0 by Each Reporting -------------------------------------------------- Person With (8) Shared Voting Power 1,634,306 -------------------------------------------------- (9) Sole Dispositive Power 0 -------------------------------------------------- (10) Shared Dispositive Power 1,634,306 - ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person 1,634,306 - ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares* / / - ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) 11.4% - ------------------------------------------------------------------------------- (14) Type of Reporting Person* IA, CO - ------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 64124 E 106 13D Page 5 of 7 Pages ----------- --- --- This Amendment No. 4 (this "Amendment") relates to the Statement on Schedule 13D, dated March 18, 1997, as amended by Amendment No. 3, dated December 24, 1997, Amendment No. 2 dated August 28, 1997 and Amendment No. 1 dated April 16, 1997 (as so amended, the "Statement"), filed with the Securities and Exchange Commission on behalf of Biotechnology Value Fund, L.P., a Delaware limited partnership ("BVF"), BVF Partners L.P., a Delaware limited partnership ("Partners"), and BVF Inc., a Delaware corporation ("BVF Inc." and, together with BVF and Partners, the "Reporting Persons") with respect to the Common Stock, par value $.025 per share (the "Stock"), of Neurogen Corporation ("Neurogen"). The principal executive office of Neurogen is located at 35 Northeast Industrial Road, Branford, CT 06405. Item 3 is hereby amended to read in its entirety as follows: ITEM 3: SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. Since January 17, 1998, Partners, in its capacity as general partner of BVF, has purchased on behalf of such limited partnership an aggregate number of 42,200 shares of the Stock for an aggregate consideration of $678,000.60, utilizing funds provided by BVF from its working capital pursuant to the terms of its limited partnership agreement with Partners. In addition, Partners, in its capacity as investment manager with respect to certain managed accounts, has purchased on behalf of such managed accounts an aggregate number of 158,300 shares of the Stock for an aggregate consideration of $2,467,542.55, utilizing funds under management by Partners pursuant to an investment management agreement between Partners and such managed accounts. Item 5 is hereby amended to read in its entirety as follows: ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. (a) BVF beneficially owns 795,920 shares of the Stock, Partners beneficially owns 1,634,306 shares of the Stock, and BVF Inc. beneficially owns 1,634,306 shares of the Stock, approximately 5.5%, 11.4% and 11.4%, respectively, of the 14,390,786 shares outstanding as of November 13, 1997 (as reported in Neurogen's most recent quarterly statement on Form 10-Q). (b) BVF shares voting and dispositive power over the 795,920 shares of the Stock it beneficially owns with Partners. Partners and BVF Inc. share voting and dispositive power over the 1,634,306 shares of the Stock they beneficially own with, in addition to BVF, the managed accounts on whose behalf Partners, as investment manager, purchased such shares. The managed accounts on whose behalf Partners owns shares of the Stock are Investment 10 L.L.C., an Illinois limited liability company ("ILL10"), Palamundo, L.D.C., a limited duration company organized under the laws of the Cayman Islands ("Palamundo"), ZPG Securities, L.L.C., a New CUSIP No. 64124 E 106 13D Page 6 of 7 Pages ----------- --- --- York limited liability company ("ZPG") and Biotechnology Value Fund, Ltd., a Cayman Islands Corporation ("BVF Ltd."). ILL10, Palamundo, ZPG and BVF Ltd. are collectively referred to herein as the "Accounts." The Accounts specialize in holding biotechnology stocks for investment purposes and the business address of each is BVF Partners L.P., 333 West Wacker Drive, Suite 1600, Chicago, Illinois 60606. (c) Exhibit B attached hereto contains information as to all transactions in the Stock by the Reporting Persons during the past sixty days. All such transactions were made for cash in open market, over-the-counter transactions. No other transactions in the Stock have been effected by the Reporting Persons during the past sixty days. (d) The Accounts are entitled to receive dividends and any sale proceeds with respect to the Stock in proportion to their respective ownership interests therein. Item 7 is hereby amended to read in its entirety as follows: ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. Exhibit A - Agreement Regarding Joint Filing Exhibit B - Transactions in the Stock by the Reporting Persons during the past sixty days. CUSIP No. 64124 E 106 13D Page 7 of 7 Pages ----------- --- --- 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. Dated: March 30, 1998 BIOTECHNOLOGY VALUE FUND, L.P. By: BVF Partners L.P., its general partner By: BVF Inc., its general partner By: /s/ Mark N. Lampert ---------------------------- Mark N. Lampert President BVF PARTNERS L.P. By: BVF Inc., its general partner By: /s/ Mark N. Lampert ---------------------------- Mark N. Lampert President BVF INC. By: /s/ Mark N. Lampert ------------------------------ Mark N. Lampert President EXHIBIT A AGREEMENT REGARDING JOINT FILING The undersigned, Biotechnology Value Fund, L.P., a Delaware limited partnership, and BVF Partners L.P., a Delaware limited partnership, and BVF Inc., a Delaware corporation, hereby agree and acknowledge that the Amendment containing the information required by Schedule 13D, to which this Agreement is attached as an exhibit, is filed on behalf of each of them. The undersigned further agree that any further amendments or supplements thereto shall also be filed on behalf of each of them. Dated: March 30, 1998 BIOTECHNOLOGY VALUE FUND, L.P. By: BVF Partners L.P., its general partner By: BVF Inc., its general partner By: /s/ Mark N. Lampert ------------------------------ Mark N. Lampert President BVF PARTNERS L.P. By: BVF Inc., its general partner By: /s/ Mark N. Lampert ---------------------------------- Mark N. Lampert President BVF INC. By: /s/ Mark N. Lampert ------------------------------ Mark N. Lampert President EXHIBIT B TRANSACTIONS IN THE STOCK BY THE REPORTING PERSONS -------------------------------------------------- DURING THE PAST SIXTY DAYS --------------------------
Settlement By For the Quantity Price per Type of Trade Broker - ---------- -- ------- -------- --------- ------------- ------ Date Account of Share ---- ---------- ----- 02/13/98 Partners BVF, Ltd. 1,000 $15.8125 Purchase INET - --------------------------------------------------------------------------------------------------------- 03/09/98 Partners BVF, Ltd. 12,000 $15.3750 Purchase INET - --------------------------------------------------------------------------------------------------------- 03/10/98 Partners BVF 2,000 $15.1553 Purchase INET - --------------------------------------------------------------------------------------------------------- 03/10/98 Partners BVF, Ltd. 2,000 $15.1553 Purchase INET - --------------------------------------------------------------------------------------------------------- 03/11/98 Partners BVF, Ltd. 8,000 $15.1875 Purchase INET - --------------------------------------------------------------------------------------------------------- 03/11/98 Partners BVF, Ltd. 5,000 $15.3750 Purchase INET - --------------------------------------------------------------------------------------------------------- 03/12/98 Partners BVF 1,000 $15.5000 Purchase INET - --------------------------------------------------------------------------------------------------------- 03/12/98 Partners BVF, Ltd. 3,000 $15.5000 Purchase INET - --------------------------------------------------------------------------------------------------------- 03/13/98 Partners BVF, Ltd. 8,000 $15.2109 Purchase INET - --------------------------------------------------------------------------------------------------------- 03/16/98 Partners BVF, Ltd. 42,200 $15.3125 Purchase INET - --------------------------------------------------------------------------------------------------------- 03/16/98 Partners BVF, Ltd. 15,000 $15.6250 Purchase GROW - --------------------------------------------------------------------------------------------------------- 03/16/98 Partners BVF, Ltd. 25,000 $15.6250 Purchase SBSH - --------------------------------------------------------------------------------------------------------- 03/17/98 Partners BVF 39,200 $16.1250 Purchase SBSH - --------------------------------------------------------------------------------------------------------- 03/17/98 Partners ILL10 4,600 $16.1250 Purchase SBSH - --------------------------------------------------------------------------------------------------------- 03/17/98 Partners PAL 3,000 $16.1250 Purchase SBSH - --------------------------------------------------------------------------------------------------------- 03/17/98 Partners ZPG 2,200 $16.1250 Purchase SBSH - --------------------------------------------------------------------------------------------------------- 03/17/98 Partners BVF, Ltd. 26,000 $16.1250 Purchase SBSH - --------------------------------------------------------------------------------------------------------- 03/20/98 Partners BVF, Ltd. 1,300 $15.6875 Purchase INET - ---------------------------------------------------------------------------------------------------------
INET = Instinet GROW = Pacific Growth, Inc. SBSH = Smith Barney -----END PRIVACY-ENHANCED MESSAGE-----