-----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, PH44C4uBka6F+TeRqjLZbUuEmBxGXMUh98UVyx+Kl+olaZM8rXr6cLB1F8zOfbiO 3U01Etk8OKYZJ5odyfb3BA== 0000912057-02-024121.txt : 20020613 0000912057-02-024121.hdr.sgml : 20020613 20020613165830 ACCESSION NUMBER: 0000912057-02-024121 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20020613 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: ARENA PHARMACEUTICALS INC CENTRAL INDEX KEY: 0001080709 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731] IRS NUMBER: 232908305 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-59397 FILM NUMBER: 02678526 BUSINESS ADDRESS: STREET 1: 6166 NANCY RIDGE DR CITY: SAN DIEGO STATE: CA ZIP: 92121 BUSINESS PHONE: 8584537200 MAIL ADDRESS: STREET 1: 6166 NANCY RIDGE DR 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 a2082250zsc13d.htm SC 13D
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No.                  )1


Arena Pharmaceuticals, Inc.
(Name of Issuer)

Common Stock
(Title of Class of Securities)

040047 10 2
(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)

June 11, 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.

(Continued on following pages)

(Page 1 of 9 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 ("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.    040047 10 2   13D   Page 2 of 9 Pages
             
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH   7   SOLE VOTING POWER
 0

 
 
 
 
 
 
 
       
        8   SHARED VOTING POWER
 1,715,820

 
 
 
 
 
 
 
       
        9   SOLE DISPOSITIVE POWER
 0

 
 
 
 
 
 
 
       
        10   SHARED DISPOSITIVE POWER
 1,715,820

 
 
 
 
 
 
 
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 1,715,820

 
 
 
 
 
 
 
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
            / /

 
 
 
 
 
 
 
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 6.2%

 
 
 
 
 
 
 
14   TYPE OF REPORTING PERSON*
 PN		        

 
 
 
 
 
 
 
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No.    040047 10 2   13D   Page 3 of 9 Pages
             
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH   7   SOLE VOTING POWER
 0

 
 
 
 
 
 
 
       
        8   SHARED VOTING POWER
 1,118,300

 
 
 
 
 
 
 
       
        9   SOLE DISPOSITIVE POWER
 0

 
 
 
 
 
 
 
       
        10   SHARED DISPOSITIVE POWER
 1,118,300

 
 
 
 
 
 
 
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 1,118,300

 
 
 
 
 
 
 
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
            / /

 
 
 
 
 
 
 
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 4.0%

 
 
 
 
 
 
 
14   TYPE OF REPORTING PERSON*
 PN

 
 
 
 
 
 
 
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No.    040047 10 2   13D   Page 4 of 9 Pages
             
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH   7   SOLE VOTING POWER
 0

 
 
 
 
 
 
 
       
        8   SHARED VOTING POWER
 2,552,800

 
 
 
 
 
 
 
       
        9   SOLE DISPOSITIVE POWER
 0

 
 
 
 
 
 
 
       
        10   SHARED DISPOSITIVE POWER
 2,552,800

 
 
 
 
 
 
 
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 2,552,800

 
 
 
 
 
 
 
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
            / /

 
 
 
 
 
 
 
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 9.2%

 
 
 
 
 
 
 
14   TYPE OF REPORTING PERSON*
 OO

 
 
 
 
 
 
 
SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No.    040047 10 2   13D   Page 5 of 9 Pages
             
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH   7   SOLE VOTING POWER
 0

 
 
 
 
 
 
 
       
        8   SHARED VOTING POWER
 5,614,120

 
 
 
 
 
 
 
       
        9   SOLE DISPOSITIVE POWER
 0

 
 
 
 
 
 
 
       
        10   SHARED DISPOSITIVE POWER
 5,614,120

 
 
 
 
 
 
 
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 5,614,120

 
 
 
 
 
 
 
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*        
            / /

 
 
 
 
 
 
 
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 20.3%

 
 
 
 
 
 
 
14   TYPE OF REPORTING PERSON*
 PN

 
 
 
 
 
 
 
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No.    040047 10 2   13D   Page 6 of 9 Pages
             
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 SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH   7   SOLE VOTING POWER
 0

 
 
 
 
 
 
 
       
        8   SHARED VOTING POWER
 5,614,120

 
 
 
 
 
 
 
       
        9   SOLE DISPOSITIVE POWER
 0

 
 
 
 
 
 
 
       
        10   SHARED DISPOSITIVE POWER
 5,614,120

 
 
 
 
 
 
 
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 5,614,120

 
 
 
 
 
 
 
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
            / /

 
 
 
 
 
 
 
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 20.3%

 
 
 
 
 
 
 
14   TYPE OF REPORTING PERSON*
 IA, CO

 
 
 
 
 
 
 
*SEE INSTRUCTIONS BEFORE FILLING OUT!

Page 7 of 9 Pages


ITEM 1. SECURITY AND ISSUER.

        This Statement on Schedule 13D (this "Statement") relates to the Common Stock, par value $0.0001 per share (the "Stock"), of Arena Pharmaceuticals, Inc., a Delaware corporation ("Arena"). The principal executive office of Arena is located at 6166 Nancy Ridge Drive, 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. Together, BVF, BVF2, Investments, Partners and BVF Inc. are the "Reporting Persons." Mark N. Lampert, an individual, is the sole shareholder, sole director and an officer of BVF Inc.

    (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. For Lampert's occupation, please refer to (a) above.

    (d)
    During the last five years, neither the Reporting Persons nor Lampert has been convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors).

    (e)
    During the last five years, neither the Reporting Persons nor Lampert 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 April 12, 2002, Partners, in its capacity as (i) general partner of BVF, has purchased on behalf of such limited partnership an aggregate number of 777,600 shares of the Stock for an aggregate consideration of $6,215,443.60, 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 510,000 shares of the Stock for an aggregate consideration of $4,081,089.30, 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 1,187,000 shares of the Stock for an aggregate consideration of $9,491,262.70 utilizing funds provided by Investments from its working capital pursuant to the terms of its investment advisory agreement with Partners.

Page 8 of 9 Pages


ITEM 4. PURPOSE OF TRANSACTIONS.

        The sole purpose of the acquisitions of the shares of Stock reported herein was for investment. 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 Arena. The Reporting Persons may provide constructive input regarding measures intended to maximize shareholder value. 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 1,715,820 shares of the Stock, BVF2 beneficially owns 1,118,300 shares of the Stock, Investments beneficially owns 2,552,800 shares of the Stock and each of Partners and BVF Inc. beneficially owns 5,614,120 shares of the Stock, representing approximately 6.2%, 4.0%, 9.2% and 20.3%, respectively, of the aggregate number of shares of common stock outstanding as of April 30, 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 5,614,120 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 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.


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.

Page 9 of 9 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: June 13, 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


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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: June 13, 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


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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*
4/12/02   Partners   BVF   1,000   $ 9.3600   Purchase   INET
4/12/02   Partners   BVF   19,000   $ 9.4000   Purchase   JONE
4/12/02   Partners   BVF   5,000   $ 9.4459   Purchase   GKMC
4/15/02   Partners   BVF   500   $ 9.4740   Purchase   INET
4/16/02   Partners   BVF   6,000   $ 9.4500   Purchase   TWPT
4/16/02   Partners   BVF   2,000   $ 9.4500   Purchase   INET
4/22/02   Partners   BVF   1,600   $ 9.3622   Purchase   INET
4/23/02   Partners   BVF   500   $ 9.2463   Purchase   INET
4/23/02   Partners   BVF   7,000   $ 9.2800   Purchase   GKMC
4/24/02   Partners   BVF   800   $ 9.1200   Purchase   INET
4/25/02   Partners   BVF   85,000   $ 8.0990   Purchase   GKMC
4/25/02   Partners   BVF   60,000   $ 8.2250   Purchase   LTCO
4/26/02   Partners   BVF   1,000   $ 8.0000   Purchase   INET
4/26/02   Partners   BVF   24,500   $ 8.0303   Purchase   LTCO
4/29/02   Partners   BVF   1,200   $ 7.8982   Purchase   INET
4/29/02   Partners   BVF   25,500   $ 7.9100   Purchase   TWPT
4/29/02   Partners   BVF   7,000   $ 7.9400   Purchase   LTCO
4/29/02   Partners   BVF   36,400   $ 7.9617   Purchase   JONE
4/29/02   Partners   BVF   15,000   $ 7.9800   Purchase   GKMC
4/30/02   Partners   BVF   4,500   $ 7.9300   Purchase   INET
5/1/02   Partners   BVF   181,000   $ 8.0800   Purchase   GKMC
5/2/02   Partners   BVF   200   $ 7.8900   Purchase   INET
5/2/02   Partners   BVF   33,000   $ 8.0000   Purchase   JONE
5/3/02   Partners   BVF   2,500   $ 7.8262   Purchase   GKMC
5/3/02   Partners   BVF   4,400   $ 7.8703   Purchase   INET
5/3/02   Partners   BVF   64,500   $ 8.0500   Purchase   JONE
5/6/02   Partners   BVF   4,500   $ 7.8949   Purchase   INET
5/7/02   Partners   BVF   9,000   $ 7.6875   Purchase   GKMC
5/7/02   Partners   BVF   3,700   $ 7.6969   Purchase   INET
5/7/02   Partners   BVF   2,100   $ 7.7800   Purchase   INET
5/9/02   Partners   BVF   4,000   $ 7.6830   Purchase   LTCO
5/10/02   Partners   BVF   11,000   $ 7.6600   Purchase   LTCO
5/10/02   Partners   BVF   29,000   $ 7.6787   Purchase   GKMC
5/13/02   Partners   BVF   6,000   $ 7.7424   Purchase   GKMC
5/13/02   Partners   BVF   4,500   $ 7.7476   Purchase   INET
5/16/02   Partners   BVF   2,000   $ 7.5700   Purchase   INET
5/16/02   Partners   BVF   6,000   $ 7.5900   Purchase   GKMC
5/17/02   Partners   BVF   500   $ 7.5980   Purchase   INET
5/17/02   Partners   BVF   1,100   $ 7.6144   Purchase   INET
5/21/02   Partners   BVF   1,000   $ 7.5000   Purchase   INET
5/21/02   Partners   BVF   5,000   $ 7.5400   Purchase   GKMC
5/22/02   Partners   BVF   1,200   $ 7.5069   Purchase   INET
5/22/02   Partners   BVF   7,000   $ 7.5400   Purchase   GKMC
5/23/02   Partners   BVF   5,000   $ 7.5000   Purchase   INET

Page 1 of 4

5/23/02   Partners   BVF   7,000   $ 7.5460   Purchase   GKMC
5/24/02   Partners   BVF   3,000   $ 7.4000   Purchase   LTCO
5/24/02   Partners   BVF   14,400   $ 7.5601   Purchase   INET
5/28/02   Partners   BVF   12,100   $ 7.5000   Purchase   JONE
5/29/02   Partners   BVF   1,000   $ 7.4800   Purchase   GKMC
6/3/02   Partners   BVF   1,500   $ 7.4004   Purchase   INET
6/3/02   Partners   BVF   4,000   $ 7.3500   Purchase   GKMC
6/4/02   Partners   BVF   5,000   $ 7.3400   Purchase   GKMC
6/6/02   Partners   BVF   2,000   $ 7.2000   Purchase   GKMC
6/7/02   Partners   BVF   6,100   $ 7.1030   Purchase   GKMC
6/7/02   Partners   BVF   500   $ 7.1202   Purchase   INET
6/10/02   Partners   BVF   2,300   $ 7.0000   Purchase   INET
6/11/02   Partners   BVF   5,000   $ 6.6500   Purchase   GKMC
6/11/02   Partners   BVF   22,000   $ 6.5500   Purchase   TWPT
4/12/02   Partners   BVF2   13,000   $ 9.4000   Purchase   JONE
4/12/02   Partners   BVF2   3,000   $ 9.4459   Purchase   GKMC
4/15/02   Partners   BVF2   1,000   $ 9.4740   Purchase   INET
4/16/02   Partners   BVF2   4,000   $ 9.4500   Purchase   TWPT
4/16/02   Partners   BVF2   1,000   $ 9.4500   Purchase   INET
4/22/02   Partners   BVF2   1,000   $ 9.3622   Purchase   INET
4/23/02   Partners   BVF2   1,000   $ 9.2463   Purchase   INET
4/23/02   Partners   BVF2   5,000   $ 9.2800   Purchase   GKMC
4/25/02   Partners   BVF2   57,000   $ 8.0990   Purchase   GKMC
4/25/02   Partners   BVF2   40,000   $ 8.2250   Purchase   LTCO
4/26/02   Partners   BVF2   17,000   $ 8.0303   Purchase   LTCO
4/29/02   Partners   BVF2   18,000   $ 7.9100   Purchase   TWPT
4/29/02   Partners   BVF2   5,000   $ 7.9400   Purchase   LTCO
4/29/02   Partners   BVF2   25,000   $ 7.9617   Purchase   JONE
4/29/02   Partners   BVF2   10,000   $ 7.9800   Purchase   GKMC
4/30/02   Partners   BVF2   2,000   $ 7.9300   Purchase   INET
5/1/02   Partners   BVF2   121,000   $ 8.0800   Purchase   GKMC
5/2/02   Partners   BVF2   22,000   $ 8.0000   Purchase   JONE
5/3/02   Partners   BVF2   2,000   $ 7.8262   Purchase   GKMC
5/3/02   Partners   BVF2   2,000   $ 7.8703   Purchase   INET
5/3/02   Partners   BVF2   43,000   $ 8.0500   Purchase   JONE
5/6/02   Partners   BVF2   4,000   $ 7.8949   Purchase   INET
5/7/02   Partners   BVF2   6,000   $ 7.6875   Purchase   GKMC
5/7/02   Partners   BVF2   2,000   $ 7.6969   Purchase   INET
5/7/02   Partners   BVF2   1,000   $ 7.7800   Purchase   INET
5/9/02   Partners   BVF2   3,000   $ 7.6830   Purchase   LTCO
5/10/02   Partners   BVF2   7,000   $ 7.6600   Purchase   LTCO
5/10/02   Partners   BVF2   19,000   $ 7.6787   Purchase   GKMC
5/13/02   Partners   BVF2   4,000   $ 7.7424   Purchase   GKMC
5/13/02   Partners   BVF2   4,000   $ 7.7476   Purchase   INET
5/16/02   Partners   BVF2   1,000   $ 7.5700   Purchase   INET
5/17/02   Partners   BVF2   1,000   $ 7.5980   Purchase   INET
5/17/02   Partners   BVF2   1,000   $ 7.6144   Purchase   INET
5/21/02   Partners   BVF2   3,000   $ 7.5400   Purchase   GKMC

Page 2 of 4

5/22/02   Partners   BVF2   1,000   $ 7.5069   Purchase   INET
5/22/02   Partners   BVF2   5,000   $ 7.5400   Purchase   GKMC
5/23/02   Partners   BVF2   4,000   $ 7.5000   Purchase   INET
5/23/02   Partners   BVF2   5,000   $ 7.5460   Purchase   GKMC
5/24/02   Partners   BVF2   1,000   $ 7.4000   Purchase   LTCO
5/24/02   Partners   BVF2   9,000   $ 7.5601   Purchase   INET
5/28/02   Partners   BVF2   8,000   $ 7.5000   Purchase   JONE
6/3/02   Partners   BVF2   1,000   $ 7.4004   Purchase   INET
6/6/02   Partners   BVF2   2,000   $ 7.2000   Purchase   GKMC
6/7/02   Partners   BVF2   4,000   $ 7.1030   Purchase   GKMC
6/7/02   Partners   BVF2   1,000   $ 7.1202   Purchase   INET
6/10/02   Partners   BVF2   1,000   $ 7.0000   Purchase   INET
6/11/02   Partners   BVF2   4,000   $ 6.6500   Purchase   GKMC
6/11/02   Partners   BVF2   15,000   $ 6.5500   Purchase   TWPT
4/12/02   Partners   Investments   1,000   $ 9.3600   Purchase   INET
4/12/02   Partners   Investments   30,000   $ 9.4000   Purchase   JONE
4/12/02   Partners   Investments   8,000   $ 9.4459   Purchase   GKMC
4/15/02   Partners   Investments   1,000   $ 9.4740   Purchase   INET
4/16/02   Partners   Investments   9,000   $ 9.4500   Purchase   TWPT
4/16/02   Partners   Investments   2,000   $ 9.4500   Purchase   INET
4/22/02   Partners   Investments   2,000   $ 9.3622   Purchase   INET
4/23/02   Partners   Investments   1,000   $ 9.2463   Purchase   INET
4/23/02   Partners   Investments   12,000   $ 9.2800   Purchase   GKMC
4/25/02   Partners   Investments   131,000   $ 8.0990   Purchase   GKMC
4/25/02   Partners   Investments   92,000   $ 8.2250   Purchase   LTCO
4/26/02   Partners   Investments   38,000   $ 8.0303   Purchase   LTCO
4/29/02   Partners   Investments   1,000   $ 7.8982   Purchase   INET
4/29/02   Partners   Investments   40,000   $ 7.9100   Purchase   TWPT
4/29/02   Partners   Investments   12,000   $ 7.9400   Purchase   LTCO
4/29/02   Partners   Investments   57,000   $ 7.9617   Purchase   JONE
4/29/02   Partners   Investments   23,000   $ 7.9800   Purchase   GKMC
4/30/02   Partners   Investments   5,000   $ 7.9300   Purchase   INET
5/1/02   Partners   Investments   278,000   $ 8.0800   Purchase   GKMC
5/2/02   Partners   Investments   1,000   $ 7.8900   Purchase   INET
5/2/02   Partners   Investments   51,000   $ 8.0000   Purchase   JONE
5/3/02   Partners   Investments   4,000   $ 7.8262   Purchase   GKMC
5/3/02   Partners   Investments   6,000   $ 7.8703   Purchase   INET
5/3/02   Partners   Investments   100,000   $ 8.0500   Purchase   JONE
5/6/02   Partners   Investments   9,000   $ 7.8949   Purchase   INET
5/7/02   Partners   Investments   14,000   $ 7.6875   Purchase   GKMC
5/7/02   Partners   Investments   4,000   $ 7.6969   Purchase   INET
5/7/02   Partners   Investments   3,000   $ 7.7800   Purchase   INET
5/9/02   Partners   Investments   7,000   $ 7.6830   Purchase   LTCO
5/10/02   Partners   Investments   16,000   $ 7.6600   Purchase   LTCO
5/10/02   Partners   Investments   45,000   $ 7.6787   Purchase   GKMC
5/13/02   Partners   Investments   9,000   $ 7.7424   Purchase   GKMC
5/13/02   Partners   Investments   9,000   $ 7.7476   Purchase   INET
5/16/02   Partners   Investments   2,000   $ 7.5700   Purchase   INET
5/16/02   Partners   Investments   6,000   $ 7.5900   Purchase   GKMC

Page 3 of 4

5/17/02   Partners   Investments   1,000   $ 7.5980   Purchase   INET
5/17/02   Partners   Investments   2,000   $ 7.6144   Purchase   INET
5/21/02   Partners   Investments   7,000   $ 7.5400   Purchase   GKMC
5/22/02   Partners   Investments   1,000   $ 7.5069   Purchase   INET
5/22/02   Partners   Investments   12,000   $ 7.5400   Purchase   GKMC
5/23/02   Partners   Investments   8,000   $ 7.5000   Purchase   INET
5/23/02   Partners   Investments   12,000   $ 7.5460   Purchase   GKMC
5/24/02   Partners   Investments   3,000   $ 7.4000   Purchase   LTCO
5/24/02   Partners   Investments   22,000   $ 7.5601   Purchase   INET
5/28/02   Partners   Investments   19,000   $ 7.5000   Purchase   JONE
5/29/02   Partners   Investments   1,000   $ 7.4800   Purchase   GKMC
6/3/02   Partners   Investments   3,000   $ 7.4004   Purchase   INET
6/3/02   Partners   Investments   6,000   $ 7.3500   Purchase   GKMC
6/6/02   Partners   Investments   4,000   $ 7.2000   Purchase   GKMC
6/7/02   Partners   Investments   10,000   $ 7.1030   Purchase   GKMC
6/7/02   Partners   Investments   2,000   $ 7.1202   Purchase   INET
6/10/02   Partners   Investments   2,000   $ 7.0000   Purchase   INET
6/11/02   Partners   Investments   8,000   $ 6.6500   Purchase   GKMC
6/11/02   Partners   Investments   35,000   $ 6.5500   Purchase   TWPT
4/12/02   Partners   ILL10   3,000   $ 9.4000   Purchase   JONE
4/12/02   Partners   ILL10   1,000   $ 9.4459   Purchase   GKMC
4/16/02   Partners   ILL10   1,000   $ 9.4500   Purchase   TWPT
4/23/02   Partners   ILL10   1,000   $ 9.2800   Purchase   GKMC
4/25/02   Partners   ILL10   11,000   $ 8.0990   Purchase   GKMC
4/25/02   Partners   ILL10   8,000   $ 8.2250   Purchase   LTCO
4/26/02   Partners   ILL10   3,000   $ 8.0303   Purchase   LTCO
4/29/02   Partners   ILL10   4,000   $ 7.9100   Purchase   TWPT
4/29/02   Partners   ILL10   1,000   $ 7.9400   Purchase   LTCO
4/29/02   Partners   ILL10   5,000   $ 7.9617   Purchase   JONE
4/29/02   Partners   ILL10   2,000   $ 7.9800   Purchase   GKMC
5/1/02   Partners   ILL10   24,000   $ 8.0800   Purchase   GKMC
5/2/02   Partners   ILL10   4,000   $ 8.0000   Purchase   JONE
5/3/02   Partners   ILL10   9,000   $ 8.0500   Purchase   JONE
5/6/02   Partners   ILL10   1,000   $ 7.8949   Purchase   INET
5/7/02   Partners   ILL10   1,000   $ 7.6875   Purchase   GKMC
5/9/02   Partners   ILL10   1,000   $ 7.6830   Purchase   LTCO
5/10/02   Partners   ILL10   1,000   $ 7.6600   Purchase   LTCO
5/10/02   Partners   ILL10   4,000   $ 7.6787   Purchase   GKMC
5/13/02   Partners   ILL10   1,000   $ 7.7424   Purchase   GKMC
5/13/02   Partners   ILL10   1,000   $ 7.7476   Purchase   INET
5/21/02   Partners   ILL10   1,000   $ 7.5400   Purchase   GKMC
5/22/02   Partners   ILL10   1,000   $ 7.5400   Purchase   GKMC
5/23/02   Partners   ILL10   1,000   $ 7.5000   Purchase   INET
5/23/02   Partners   ILL10   1,000   $ 7.5460   Purchase   GKMC
5/24/02   Partners   ILL10   2,000   $ 7.5601   Purchase   INET
5/28/02   Partners   ILL10   2,000   $ 7.5000   Purchase   JONE
6/7/02   Partners   ILL10   1,000   $ 7.1030   Purchase   GKMC
6/11/02   Partners   ILL10   1,000   $ 6.6500   Purchase   GKMC
6/11/02   Partners   ILL10   3,000   $ 6.5500   Purchase   TWPT
*Broker Codes
GKMC —   Gerard Klauer
INET —   Instinet
JONE —   Jones & Associates
LTCO —   Ladenburg Thalman
TWPT —   Thomas Weisel Partners

Page 4 of 4



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