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Biotech / Medical : SIBIA Neurosciences (SIBI) -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (214)	9/9/1998 9:45:00 AM
From: scaram(o)uche	Read Replies (2) \| Respond to of 579

BVF (Lampert) picked up a few more shares, but revised a filing with this disclosure (below). Sounds like Lampert is ticked (and scared)....... ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. Since July 6, 1998, Partners, in its capacity as general partner of BVF, has purchased on behalf of such limited partnership an aggregate number of 20,000 shares of the Stock for an aggregate consideration of $63,178.00, 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 26,600 shares of the Stock for an aggregate consideration of $83,504.50, utilizing funds under management by Partners pursuant to investment manager agreements between Partners and such managed accounts. ITEM 4. PURPOSE OF TRANSACTIONS. The external environment for small, quality biotechnology companies is undergoing a period of rapid and profound change. The convergence of a depressed equity market, the possible slowing pace of a corporate partnering activity, and escalating cash burn rates could produce an industry shake-out in which financially conservative companies prosper and financially weak companies falter. This changing environment may call for managements and Boards to husband capital by significantly reducing cash burn rates and to otherwise alter preconceived business plans. If managed pro-actively and intelligently, this period could yield attractive returns for shareholders. However, the consequences of complacency and the potential for irreparable missteps are great. BVF may seek to work with company managements, Boards and shareholders to maximize shareholder value and, specifically, to protect the substantial value of funded, partnered programs from unnecessary dilution. BVF IS AMENDING ALL ITS 13-D FILINGS WITH THIS NOTICE. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. (a) BVF beneficially owns 495,500 shares of the Stock, Partners beneficially owns 1,042,600 shares of the Stock, and BVF Inc. beneficially owns 1,042,600 shares of the Stock, approximately 5.2%, 11.0% and 11.0%, respectively, of the aggregate number of shares outstanding as of July 31, 1998 (as reported in Sibia's most recent quarterly statement).