-----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, Cf9oVkl9NQfR/oGnjZIVa/vj87ZBa+8coC4QPvz4K5SBuTlPUTBPCzhgea9NYUZf 3mjeqfOG248EF648QrDKzg== 0000912057-02-021494.txt : 20020521 0000912057-02-021494.hdr.sgml : 20020521 20020521171819 ACCESSION NUMBER: 0000912057-02-021494 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20020521 GROUP MEMBERS: BIOTECHNOLOGY VALUE FUND II, L.P. GROUP MEMBERS: BVF INC. GROUP MEMBERS: BVF INVESTMENTS, L.L.C. GROUP MEMBERS: BVF PARTNERS L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CORVAS INTERNATIONAL INC CENTRAL INDEX KEY: 0000882100 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 330238812 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-42011 FILM NUMBER: 02659139 BUSINESS ADDRESS: STREET 1: 3030 SCIENCE PARK RD CITY: SAN DIEGO STATE: CA ZIP: 92121 BUSINESS PHONE: 6194559800 MAIL ADDRESS: STREET 2: 3030 SCIENCE PARK ROAD CITY: SAN DIEGO STATE: CA ZIP: 92121 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BIOTECHNOLOGY VALUE FUND L P CENTRAL INDEX KEY: 0000918923 STANDARD INDUSTRIAL CLASSIFICATION: INVESTMENT ADVICE [6282] IRS NUMBER: 363924731 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 227 W MONROE STREET, SUITE 4800 STREET 2: 227 W MONROE STREET, SUITE 4800 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 415-288-23 MAIL ADDRESS: STREET 1: 227 W MONROE STREET, SUITE 4800 STREET 2: 227 W MONROE STREET, SUITE 4800 CITY: CHICAGO STATE: IL ZIP: 60606 SC 13D 1 a2080537zsc13d.htm SCHEDULE 13D
QuickLinks -- Click here to rapidly navigate through this document

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No.    )1

Corvas International, Inc.
(Name of Issuer)

Common Stock
(Title of Class of Securities)

221005 10 1
(CUSIP Number)

Hope Flack
BVF Partners L.P
227 West Monroe Street, Suite 4800
Chicago, Illinois 60606
(312) 263-7777
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

May 17, 2002
(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 §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box    /x/

        Note:    Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See§ 240.13d-7 for other parties to whom copies are to be sent.

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 ("Act") 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. 221005 10 1   13D    

       

1
 
NAME OF REPORTING PERSON:
                Biotechnology Value Fund, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
    (a) /x/
    (b) / /
3   SEC USE ONLY
     
4   SOURCE OF FUNDS*
    WC
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
    / /
6   CITIZENSHIP OR PLACE OF ORGANIZATION    
    Delaware
NUMBER OF   7   SOLE VOTING POWER    0
SHARES  
BENEFICIALLY   8   SHARED VOTING POWER    1,445,755
OWNED BY EACH  
REPORTING   9   SOLE DISPOSITIVE POWER    0
PERSON WITH  
    10   SHARED DISPOSITIVE POWER    1,445,755
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 1,445,755
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
    / /
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    5.3%
14   TYPE OF REPORTING PERSON*
    PN

* SEE INSTRUCTIONS BEFORE FILLING OUT!

2

CUSIP NO. 221005 10 1   13D    

       

1
 
NAME OF REPORTING PERSON:
                Biotechnology Value Fund II, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
    (a) /x/
    (b) / /
3   SEC USE ONLY
     
4   SOURCE OF FUNDS*
    WC
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
    / /
6   CITIZENSHIP OR PLACE OF ORGANIZATION    
    Delaware
NUMBER OF   7   SOLE VOTING POWER    0
SHARES  
BENEFICIALLY   8   SHARED VOTING POWER    853,711
OWNED BY EACH  
REPORTING   9   SOLE DISPOSITIVE POWER    0
PERSON WITH  
    10   SHARED DISPOSITIVE POWER    853,711
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 853,711
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
    / /
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    3.1%
14   TYPE OF REPORTING PERSON*
    PN

* SEE INSTRUCTIONS BEFORE FILLING OUT!

3

CUSIP NO. 221005 10 1   13D    

       

1
 
NAME OF REPORTING PERSON:
                BVF Investments, L.L.C.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
    (a) /x/
    (b) / /
3   SEC USE ONLY
     
4   SOURCE OF FUNDS*
    WC
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
    / /
6   CITIZENSHIP OR PLACE OF ORGANIZATION    
    Delaware
NUMBER OF   7   SOLE VOTING POWER    0
SHARES  
BENEFICIALLY   8   SHARED VOTING POWER    1,951,227
OWNED BY EACH  
REPORTING   9   SOLE DISPOSITIVE POWER    0
PERSON WITH  
    10   SHARED DISPOSITIVE POWER    1,951,227
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 1,951,227
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
    / /
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    7.1%
14   TYPE OF REPORTING PERSON*
    OO

* SEE INSTRUCTIONS BEFORE FILLING OUT!

4

CUSIP NO. 221005 10 1   13D    

       

1
 
NAME OF REPORTING PERSON:
                BVF Partners L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
    (a) /x/
    (b) / /
3   SEC USE ONLY
     
4   SOURCE OF FUNDS*
    OO
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
    / /
6   CITIZENSHIP OR PLACE OF ORGANIZATION    
    Delaware
NUMBER OF   7   SOLE VOTING POWER    0
SHARES  
BENEFICIALLY   8   SHARED VOTING POWER    4,462,229
OWNED BY EACH  
REPORTING   9   SOLE DISPOSITIVE POWER    0
PERSON WITH  
    10   SHARED DISPOSITIVE POWER    4,462,229
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 4,462,229
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
    / /
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    16.2%
14   TYPE OF REPORTING PERSON*
    PN

* SEE INSTRUCTIONS BEFORE FILLING OUT!

5

CUSIP NO. 221005 10 1   13D    

       

1
 
NAME OF REPORTING PERSON:
                BVF Inc.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY):
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
    (a) /x/
    (b) / /
3   SEC USE ONLY
     
4   SOURCE OF FUNDS*
    OO
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
    / /
6   CITIZENSHIP OR PLACE OF ORGANIZATION    
    Delaware
NUMBER OF   7   SOLE VOTING POWER    0
SHARES  
BENEFICIALLY   8   SHARED VOTING POWER    4,462,229
OWNED BY EACH  
REPORTING   9   SOLE DISPOSITIVE POWER    0
PERSON WITH  
    10   SHARED DISPOSITIVE POWER    4,462,229
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 4,462,229
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
    / /
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    
    16.2%
14   TYPE OF REPORTING PERSON*
    IA, CO

* SEE INSTRUCTIONS BEFORE FILLING OUT!

6

CUSIP NO. 221005 10 1   13D    


ITEM 1.    SECURITY AND ISSUER.

        This Statement on Schedule 13D (this "Statement") relates to the Common Stock, par value $0.001 per share (the "Stock"), of Corvas International, Inc., a Delaware corporation ("Corvas"). The principal executive office of Corvas is located at 3030 Science Park Road, San Diego, California 92121.


ITEM 2.    IDENTITY AND BACKGROUND.

        The persons filing this Statement, the persons enumerated in Instruction C of this Statement and, where applicable, their respective places of organization, principal business, principal office, general partners, managers, directors, executive officers, controlling persons and certain information regarding each of them, are as follows:

        (a)  Biotechnology Value Fund, L.P., a Delaware limited partnership ("BVF"), Biotechnology Value Fund II, L.P., a Delaware limited partnership ("BVF2"), BVF Investments L.L.C., a Delaware limited liability company ("Investments"), BVF Partners L.P., a Delaware limited partnership ("Partners") and BVF Inc., a Delaware corporation ("BVF Inc.") specialize in holding biotechnology stocks for investment purposes and, together with Mark N. Lampert, an individual ("Lampert"), are the "Reporting Persons".

        (b)  The business address of BVF, BVF2, Investments and Partners is 227 West Monroe Street, Suite 4800, Chicago, Illinois 60606. The business address of BVF Inc. and Lampert is One Sansome Street, 31st Floor, San Francisco, California 94104.

        (c)  Partners is the general partner of BVF and BVF2, which are investment limited partnerships. Partners also is the manager of Investments. BVF Inc. is an investment advisor to and general partner of Partners. Lampert is the sole shareholder, sole director and an officer of BVF Inc.

        (d)  During the last five years, none of the Reporting Persons has been convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors).

        (e)  During the last five years, none of the Reporting Persons has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction nor, as a result of such proceeding, was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

        (f)    Lampert is a citizen of the United States of America. For the citizenship of each of BVF, BVF2, Investments, Partners, and BVF Inc., please refer to (a) above.


ITEM 3.    SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.

        Since March 18, 2002, Partners, in its capacity as (i) general partner of BVF, has purchased on behalf of such limited partnership an aggregate number of 361,200 shares of the Stock for an aggregate consideration of $1,435,843.86, utilizing funds provided by BVF from its working capital pursuant to the terms of its limited partnership agreement with Partners; (ii) general partner of BVF2, has purchased on behalf of such limited partnership an aggregate number of 204,000 shares of the Stock for an aggregate consideration of $880,758.70, utilizing funds provided by BVF2 from its working capital pursuant to the terms of its limited partnership agreement with Partners; and (iii) manager of Investments, has purchased on behalf of such limited liability company an aggregate number of 524,000 shares of the Stock for an aggregate consideration of $2,129,958.20 utilizing funds provided by Investments from its working capital pursuant to the terms of its investment advisory agreement with Partners.

7

CUSIP NO. 221005 10 1   13D    


ITEM 4.    PURPOSE OF TRANSACTIONS.

        The purpose of the acquisitions of the shares of Stock reported herein was for investment. The Reporting Persons may provide constructive input regarding the appropriate investment, and rate of investment, of the cash resources of Corvas and may assist in various measures intended to preserve and maximize shareholder value, including the exploration of potential strategic alliances, mergers and acquisitions. The Reporting Persons did not at the time they acquired the shares of Stock, and do not presently, have any plan to acquire control of Corvas. The Reporting Persons may acquire or dispose of additional shares of Stock from time to time.


ITEM 5.    INTEREST IN SECURITIES OF THE ISSUER.

        (a)  BVF beneficially owns 1,445,755 shares of the Stock, BVF2 beneficially owns 853,711 shares of the Stock, Investments beneficially owns 1,951,227 shares of the Stock and each of Partners and BVF Inc. beneficially owns 4,462,229 shares of the Stock, representing approximately 5.3%, 3.1%, 7.1% and 16.2%, respectively, of the aggregate number of shares of common stock outstanding as of May 8, 2002.

        (b)  Each of BVF, BVF2 and Investments shares with Partners voting and dispositive power over the shares of the Stock each such entity beneficially owns. Partners and BVF Inc. share voting and dispositive power over the 4,462,229 shares of the Stock they beneficially own with, in addition to BVF, BVF2 and Investments, Investment 10, L.L.C., an Illinois limited liability company ("ILL10") and managed account on whose behalf Partners, as investment advisor, purchased such shares. ILL10 specializes in holding biotechnology stocks for investment purposes and its business address is BVF Partners L.P., 227 West Monroe Street, Suite 4800, Chicago, Illinois 60606.

        (c)  Exhibit 2 attached hereto contains information as to all transactions in the Stock by the Reporting Persons during the last 60 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 last 60 days.

        (d)  ILL10 is entitled to receive dividends and any sale proceeds with respect to shares of the Stock in proportion to its respective ownership interest therein.


ITEM 6.    CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER.

        Partners is the general partner of each of BVF and BVF2 pursuant to limited partnership agreements which authorize Partners, among other things, to invest the funds of BVF and BVF2 in shares of the Stock and to vote, exercise or convert and dispose of such shares. Pursuant to such limited partnership agreements, Partners is entitled to allocations based on assets under management. Pursuant to an investment advisory agreement with Investments, Partners is authorized, among other things, to invest Investment's funds in shares of the Stock and to vote, exercise or convert and dispose of such shares and is entitled to allocations based on assets under management. Pursuant to an investment management agreement with ILL10, Partners and BVF Inc. have the authority, among other things, to invest funds of ILL10 in shares of the Stock and to vote, exercise or convert and dispose of such shares. Pursuant to such investment management agreement, Partners and BVF Inc. receive fees based on assets under management and realized and unrealized gains thereon. BVF Inc. is the general partner of Partners and may be deemed to own beneficially securities over which Partners exercises voting and dispositive power. BVF Inc. is a registered investment advisor under the laws of the State of California and holds securities for the benefit of third parties, or in customer or fiduciary accounts, in the ordinary course of business without the purpose of effect of changing or influencing control of Corvas or engaging in any arrangement subject to Rule 13d-3(b) promulgated under the Securities Exchange Act of 1934, as amended.

8

CUSIP NO. 221005 10 1   13D    


ITEM 7.    MATERIAL TO BE FILED AS EXHIBITS.

        Exhibit 1—Agreement Regarding Joint Filing

        Exhibit 2—Transactions in the Stock by Reporting Persons during the last 60 days.

9

CUSIP NO. 221005 10 1   13D    

        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: May 21, 2002

    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
 

 
 
 
 
 
 
 
    BIOTECHNOLOGY VALUE FUND II, 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 INVESTMENTS, L.L.C.  

 
 
By:
BVF Partners L.P., its manager
 

 
 
 
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
 

 
 
 
 
 
 
 

10



QuickLinks

SCHEDULE 13D
ITEM 1. SECURITY AND ISSUER.
ITEM 2. IDENTITY AND BACKGROUND.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
ITEM 4. PURPOSE OF TRANSACTIONS.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
 EX-1 3 a2080537zex-1.htm EXHIBIT 1
QuickLinks -- Click here to rapidly navigate through this document


EXHIBIT 1


AGREEMENT REGARDING JOINT FILING

        The undersigned, Biotechnology Value Fund, L.P., a Delaware limited partnership, Biotechnology Value Fund II, L.P., a Delaware limited partnership, BVF Investments, L.L.C., a Delaware limited liability company, BVF Partners L.P., a Delaware limited partnership, and BVF Inc., a Delaware corporation, hereby agree and acknowledge that 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 amendments or supplements thereto shall also be filed on behalf of each of them.

Dated: May 21, 2002

    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
 

 
 
 
 
 
 
 
    BIOTECHNOLOGY VALUE FUND II, 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 INVESTMENTS, L.L.C.  

 
 
By:
BVF Partners L.P., its manager
 

 
 
 
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
 

 
 
 
 
 
 
 


QuickLinks

EXHIBIT 1
AGREEMENT REGARDING JOINT FILING
 EX-2 4 a2080537zex-2.htm EXHIBIT 2
QuickLinks -- Click here to rapidly navigate through this document


EXHIBIT 2

TRANSACTIONS IN THE STOCK BY THE REPORTING PERSONS
DURING THE PAST SIXTY DAYS

Trade
Date
   By
   For the
Account of
   Quantity
   Price per
Share
   Type of Trade
   Broker*
3/19/2002   Partners   BVF   3,000   $ 6.1750   Purchase   INET
3/20/2002   Partners   BVF   4,300   $ 6.1194   Purchase   INET
3/21/2002   Partners   BVF   3,600   $ 5.9654   Purchase   INET
3/22/2002   Partners   BVF   3,200   $ 6.0000   Purchase   INET
3/25/2002   Partners   BVF   12,000   $ 5.8936   Purchase   INET
3/26/2002   Partners   BVF   6,000   $ 5.7110   Purchase   INET
3/27/2002   Partners   BVF   13,000   $ 5.7222   Purchase   GKMC
3/28/2002   Partners   BVF   4,200   $ 5.6233   Purchase   INET
3/28/2002   Partners   BVF   6,000   $ 5.6400   Purchase   GKMC
4/1/2002   Partners   BVF   6,400   $ 5.6420   Purchase   INET
4/2/2002   Partners   BVF   700   $ 5.6426   Purchase   INET
4/2/2002   Partners   BVF   6,500   $ 5.6500   Purchase   GKMC
4/3/2002   Partners   BVF   200   $ 5.5100   Purchase   INET
4/3/2002   Partners   BVF   2,500   $ 5.5500   Purchase   GKMC
4/4/2002   Partners   BVF   3,000   $ 5.5200   Purchase   GKMC
4/8/2002   Partners   BVF   700   $ 5.4600   Purchase   INET
4/8/2002   Partners   BVF   3,000   $ 5.5000   Purchase   HRZG
4/9/2002   Partners   BVF   1,500   $ 5.3755   Purchase   INET
4/9/2002   Partners   BVF   3,000   $ 5.4000   Purchase   GKMC
4/10/2002   Partners   BVF   700   $ 5.3900   Purchase   INET
4/10/2002   Partners   BVF   2,000   $ 5.4500   Purchase   GKMC
4/11/2002   Partners   BVF   4,000   $ 5.4100   Purchase   GKMC
4/12/2002   Partners   BVF   14,000   $ 5.3335   Purchase   SLKC
4/12/2002   Partners   BVF   1,000   $ 5.3500   Purchase   INET
4/12/2002   Partners   BVF   15,000   $ 5.3960   Purchase   GKMC
4/15/2002   Partners   BVF   1,000   $ 5.3200   Purchase   INET
4/16/2002   Partners   BVF   7,000   $ 5.4448   Purchase   GKMC
4/16/2002   Partners   BVF   48,000   $ 5.5200   Purchase   GROW
4/23/2002   Partners   BVF   10,300   $ 3.5249   Purchase   INET
4/24/2002   Partners   BVF   11,000   $ 2.9918   Purchase   GKMC
4/24/2002   Partners   BVF   4,800   $ 2.9981   Purchase   INET
5/2/2002   Partners   BVF   5,600   $ 2.7637   Purchase   INET
5/3/2002   Partners   BVF   4,000   $ 2.5800   Purchase   OPCO
5/21/2002   Partners   BVF   150,000   $ 2.2500   Purchase   COWN
3/19/2002   Partners   BVF2   2,000   $ 6.1750   Purchase   INET
3/20/2002   Partners   BVF2   2,000   $ 6.1194   Purchase   INET
3/21/2002   Partners   BVF2   3,000   $ 5.9654   Purchase   INET
3/22/2002   Partners   BVF2   2,000   $ 6.0000   Purchase   INET
3/25/2002   Partners   BVF2   8,000   $ 5.8936   Purchase   INET
3/26/2002   Partners   BVF2   4,000   $ 5.7110   Purchase   INET
3/27/2002   Partners   BVF2   9,000   $ 5.7222   Purchase   GKMC
3/28/2002   Partners   BVF2   3,000   $ 5.6233   Purchase   INET
3/28/2002   Partners   BVF2   4,000   $ 5.6400   Purchase   GKMC
4/1/2002   Partners   BVF2   5,000   $ 5.6420   Purchase   INET

1

4/2/2002   Partners   BVF2   1,000   $ 5.6426   Purchase   INET
4/2/2002   Partners   BVF2   5,000   $ 5.6500   Purchase   GKMC
4/3/2002   Partners   BVF2   2,000   $ 5.5500   Purchase   GKMC
4/4/2002   Partners   BVF2   2,000   $ 5.5200   Purchase   GKMC
4/8/2002   Partners   BVF2   1,000   $ 5.4600   Purchase   INET
4/8/2002   Partners   BVF2   2,000   $ 5.5000   Purchase   HRZG
4/9/2002   Partners   BVF2   1,000   $ 5.3755   Purchase   INET
4/9/2002   Partners   BVF2   1,000   $ 5.4000   Purchase   GKMC
4/10/2002   Partners   BVF2   1,000   $ 5.3900   Purchase   INET
4/10/2002   Partners   BVF2   1,000   $ 5.4500   Purchase   GKMC
4/11/2002   Partners   BVF2   3,000   $ 5.4100   Purchase   GKMC
4/12/2002   Partners   BVF2   10,000   $ 5.3335   Purchase   SLKC
4/12/2002   Partners   BVF2   10,000   $ 5.3960   Purchase   GKMC
4/16/2002   Partners   BVF2   5,000   $ 5.4448   Purchase   GKMC
4/16/2002   Partners   BVF2   32,000   $ 5.5200   Purchase   GROW
4/23/2002   Partners   BVF2   7,000   $ 3.5249   Purchase   INET
4/24/2002   Partners   BVF2   7,000   $ 2.9918   Purchase   GKMC
4/24/2002   Partners   BVF2   4,000   $ 2.9981   Purchase   INET
5/2/2002   Partners   BVF2   4,000   $ 2.7637   Purchase   INET
5/3/2002   Partners   BVF2   3,000   $ 2.5800   Purchase   OPCO
5/21/2002   Partners   BVF2   60,000   $ 2.2500   Purchase   COWN
3/19/2002   Partners   Investments   4,000   $ 6.1750   Purchase   INET
3/20/2002   Partners   Investments   5,000   $ 6.1194   Purchase   INET
3/21/2002   Partners   Investments   7,000   $ 5.9654   Purchase   INET
3/22/2002   Partners   Investments   4,000   $ 6.0000   Purchase   INET
3/25/2002   Partners   Investments   19,000   $ 5.8936   Purchase   INET
3/26/2002   Partners   Investments   9,000   $ 5.7110   Purchase   INET
3/27/2002   Partners   Investments   21,000   $ 5.7222   Purchase   GKMC
3/28/2002   Partners   Investments   7,000   $ 5.6233   Purchase   INET
3/28/2002   Partners   Investments   9,000   $ 5.6400   Purchase   GKMC
4/1/2002   Partners   Investments   11,000   $ 5.6420   Purchase   INET
4/2/2002   Partners   Investments   1,000   $ 5.6426   Purchase   INET
4/2/2002   Partners   Investments   10,000   $ 5.6500   Purchase   GKMC
4/3/2002   Partners   Investments   3,000   $ 5.5500   Purchase   GKMC
4/4/2002   Partners   Investments   5,000   $ 5.5200   Purchase   GKMC
4/8/2002   Partners   Investments   2,000   $ 5.4600   Purchase   INET
4/8/2002   Partners   Investments   4,000   $ 5.5000   Purchase   HRZG
4/9/2002   Partners   Investments   2,000   $ 5.3755   Purchase   INET
4/9/2002   Partners   Investments   3,000   $ 5.4000   Purchase   GKMC
4/10/2002   Partners   Investments   2,000   $ 5.3900   Purchase   INET
4/10/2002   Partners   Investments   2,000   $ 5.4500   Purchase   GKMC
4/11/2002   Partners   Investments   7,000   $ 5.4100   Purchase   GKMC
4/12/2002   Partners   Investments   22,000   $ 5.3335   Purchase   SLKC
4/12/2002   Partners   Investments   23,000   $ 5.3960   Purchase   GKMC
4/16/2002   Partners   Investments   12,000   $ 5.4448   Purchase   GKMC
4/16/2002   Partners   Investments   74,000   $ 5.5200   Purchase   GROW

2


4/23/2002
 
Partners
 
Investments
 
15,000
 
$
3.5249
 
Purchase
 
INET
4/24/2002   Partners   Investments   16,000   $ 2.9918   Purchase   GKMC
4/24/2002   Partners   Investments   9,000   $ 2.9981   Purchase   INET
5/2/2002   Partners   Investments   9,000   $ 2.7637   Purchase   INET
5/3/2002   Partners   Investments   7,000   $ 2.5800   Purchase   OPCO
5/21/2002   Partners   Investments   200,000   $ 2.2500   Purchase   COWN

        *Broker Codes    

COWN   —   Cowen & Co.
INET   —   Instinet
GKMC   —   Gerard Klauer
HRZG   —   Herzog Heine & Geduld
SLKC   —   Spear Leeds
GROW   —   Pacific Growth
OPCO   —   Oppenheimer & Co

3



QuickLinks

EXHIBIT 2
 -----END PRIVACY-ENHANCED MESSAGE-----