-----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, BghSzcnsFthjjnlyiEQkELQD/HaJmORxzWCkR1zPSZ3tNtyBOKWDq+mVRf66wDEa X90DJwM9SolA4ddWJvi18Q== 0000884939-99-000007.txt : 19990323 0000884939-99-000007.hdr.sgml : 19990323 ACCESSION NUMBER: 0000884939-99-000007 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19990322 ITEM INFORMATION: FILED AS OF DATE: 19990322 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SYNAPTIC PHARMACEUTICAL CORP CENTRAL INDEX KEY: 0000884939 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731] IRS NUMBER: 222859704 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-27324 FILM NUMBER: 99569520 BUSINESS ADDRESS: STREET 1: 215 COLLEGE RD CITY: PARAMUS STATE: NJ ZIP: 07652 BUSINESS PHONE: 2012611331 8-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 --------------------------- FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): March 19, 1999 SYNAPTIC PHARMACEUTICAL CORPORATION (Exact Name of Registrant as Specified in Charter) Delaware (State or Other Jurisdiction of Incorporation) 0-27324 22-285-9704 (Commission File Number) (I.R.S. Employer Identification No.) 215 College Road Paramus, New Jersey 07652-1431 (Address of principal executive offices, including zip code) Registrant's telephone number, including area code: (201) 261-1331 Page 1 of 5 Pages Item 5. Other Events. On March 19, 1999, Synaptic Pharmaceutical Corporation (the "Company") issued a press release announcing that its corporate partner Eli Lilly and Company ("Lilly") has discontinued commercial development of the migraine compound LY334370 identified as part of the Company's collaboration with Lilly. A copy of the press release is attached as Exhibit 99 to this Form 8-K and incorporated by reference herein. Item 7. Exhibits. Exhibit No. Description Page - ---------- ---------------------------------- ---- 99 Press Release dated March 19, 1999 4 Page 2 of 5 Pages SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 22, 1999 SYNAPTIC PHARMACEUTICAL CORPORATION (Registrant) By:/s/ Kathleen P. Mullinix ------------------------------- Name: Kathleen P. Mullinix Title: Chairman, President and Chief Executive Officer Page 3 of 5 Pages Exhibit No. 99 -------------- FOR IMMEDIATE RELEASE Contact: Kathleen P. Mullinix, Ph.D. Chairman, President and Chief Executive Officer Synaptic Pharmaceutical Corporation (201) 261-1331, ext. 103 Stacy Lipschitz Ruder Finn, Inc. (212) 583-2757 SYNAPTIC PHARMACEUTICAL MIGRAINE PROGRAM UPDATE PARAMUS, N.J., March 19, 1999 - Synaptic Pharmaceutical Corporation (Nasdaq: SNAP) has been informed by Eli Lilly and Company that Lilly has discontinued commercial development of the migraine compound LY334370 as a result of its recent review of data from an ongoing confirmatory animal toxicology study initiated at the end of 1998. Synaptic announced earlier this month that Lilly had temporarily delayed the beginning of Phase III clinical trials of the migraine compound to collect additional information regarding the safety and tolerability of the compound. Data from three Phase II clinical trials conducted by Lilly indicated that LY334370 is efficacious in the treatment of migraine without the cardiovascular side effects associated with other treatments currently on the market. Lilly continues to maintain that all data to date continue to support the hypothesis that selective serotonin 1F receptor agonists (SSOFRAs) represent a new class of compounds that may effectively treat migraine pain via neuronal mechanisms without the cardiovascular side effects associated with products currently on the market. Therefore, Lilly and Synaptic will continue to collaborate on the development of alternative SSOFRAs with an improved safety profile. Synaptic Pharmaceutical Corporation has developed "human receptor-targeted drug design technology," in which cloned human receptors are used as targets for the design of potential drugs. The company is engaged in collaborations with two pharmaceutical companies in addition to Lilly. This press release contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, statements that are not historical facts, including those relating to the development of SSOFRAs. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties relating to difficulties or delays in discovery, development, testing, regulatory approval, production and marketing of the companies' drug candidates, any unexpected adverse side effects or inadequate therapeutic efficacy of the companies' drug candidates that could slow or prevent product development efforts, competition within the Page 4 of 5 Pages companies' anticipated product markets, the uncertainty of product development in the pharmaceutical industry, the uncertainty of patent protection for the companies' intellectual property or trade secrets and other risks detailed from time to time in filings Synaptic makes with the Securities and Exchange Commission, including its annual report on Form 10-K and its quarterly reports on Forms 10-Q. Such statements are based on management's current expectations, but actual results may differ materially due to various factors, including those risks and uncertainties mentioned or referred to in this press release. # # # Page 5 of 5 Pages -----END PRIVACY-ENHANCED MESSAGE-----