It was positive today that no large blocks of Procept shares were dumped in the last hour of trading. Let's hope that whoever was selling is finished. They seemed to be selling at the slightest increase and always at the end of day. I still wonder who is buying all those shares!
Before you read the following, re-read #207. I found another example of Paramount buying shares of a company (RepliGen) on the open market. Again, small volume over many days. Let's see if Paramount Capital buys more shares in Procept at these low prices.
Repligen Corporation
--------------------
(Name of Issuer)
June 24, 1997
(Date of Event which Requires Filing of this Statement)
NAME OF REPORTING PERSON
Paramount Capital Asset Management, Inc.
As previously reported in the original statement on Schedule 13-D (the
"Original Statement") filed by the Reporting Parties on November 15,
1996, in connection with their initial acquisition of shares of the
Issuer, Aries Domestic used its general funds to effect the purchase
of 292,000 shares of the Issuer in various open market transactions
for an approximate aggregate purchase price of $407,258 and Aries
Trust used its general funds to effect its initial purchase of 658,000
shares for an approximate aggregate purchase price of $916,692. As of
the date of the last filing of a Schedule 13D Amendment ("Amendment
No. 5"), Aries Domestic beneficially owned 622,000 shares of the
Issuer and the Aries Trust beneficially owned 1,317,700 shares of the
Issuer. Since the date of Amendment No. 5, Aries Domestic used its
general funds to effect the purchase of the an additional 56,600
shares of common stock of Issuer in various open market transactions
as further set forth in Item 5 for an approximate aggregate purchase
price of $69,878. Since the date of Amendment No. 5, Aries Trust used
its general funds to effect the purchase of the an additional 116,800
shares of common stock of Issuer in various open market transactions
as further set forth in Item 5 for an approximate aggregate purchase
price of $125,971.
As of June 27, 1997, Dr. Rosenwald and Paramount Capital, through
acquisition of the shares by the Aries Trust and Aries Domestic,
beneficially owned 2,112,700 shares or 13.1% of the Issuer's
securities and Aries Domestic and the Aries Trust beneficially
owned as follows:
Amount Owned
Aries Domestic 678,600 shares
Aries Trust 1,434,100 shares
The following purchases were made by Aries Domestic in the open
market since the filing of Amendment No. 5:
Date No. of Shares Purchase Price
---- ------------- --------------
4/18/97 3,500 1.250
4/21/97 2,400 1.125
4/22/97 500 1.188
4/24/97 1,700 1.188
4/25/97 3,500 1.313
4/30/97 8,500 1.239
4/30/97 8,500 1.150
5/02/97 3,500 1.250
5/07/97 3,500 1.125
5/13/97 6,500 1.250
5/30/97 5,000 1.125
6/02/97 3,500 1.188
6/03/97 3,500 1.250
6/24/97 3,500 1.219
The following purchases were made by Aries Trust in
the open market in the since the filing of Amendment
No. 5:
Date No. of Shares Market Price
---- ------------- ------------
4/18/97 6,500 1.250
4/21/97 4,000 1.125
4/22/97 1,000 1.188
4/24/97 3,300 1.188
4/25/97 6,500 1.313
4/30/97 16,500 1.239
4/30/97 16,500 1.150
5/02/97 6,500 1.250
5/07/97 6,500 1.125
5/13/97 13,500 1.250
5/30/97 10,000 1.125
6/02/97 6,500 1.188
6/03/97 6,500 1.250
6/24/97 6,500 1.219
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