U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[_] Check box if no longer subject to Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting Person (If the Form is filed by more than
one Reporting Person, see Instruction 4(b)(v).)
Capetola, Robert J.
(Last) (First) (Middle)
6097 Hidden Valley Drive
(Street)
Doylestown, PA 18901
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Discovery Laboratories, Inc. (Discovery)
DSCO
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for
(Month/Year)
02/2000
5. If Amendment, Date of Original
(Month/Year)
6. Relationship of Reporting Person to Issuer
(Check all applicable)
X Director X 10% Owner
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X Officer (give title below) Other (specify below)
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7. Individual or Joint/Group Filing (Check applicable line)
X Form filed by One Reporting Person
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Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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Common Stock 02/10/00 M 62,500 A $1.38
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Common Stock 02/10/00 F 16,234 D $5.3125(1) 507,346(2) D
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(1) Represents the market price on the date of transfer of shares to Discovery
Laboratories Inc.
(2) Excludes 543,863 shares of Common Stock issuable on exercised of employee
stock options previously listed in Table 1 as beneficially owned by Mr. Capetola
which are not required to be listed in Table 1 pursuant to Instruction 4(c)(i).
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Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
2.
Conver- 5.
sion Number of
or Derivative 6.
Exer- 4. Securities Date
cise 3. Trans- Acquired (A) Exercisable and
Price Trans- action or Disposed Expiration Date
1. of action Code of(D) (Month/Day/Year)
Title of Deriv- Date (Instr. (Instr. 3, ----------------
Derivative ative (Month/ 8) 4 and 5) Date Expira-
Security Secur- Day/ ------ ------------ Exer- tion
(Instr. 3) ity Year) Code V (A) (D) cisable Date
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Employee stock $1.38 02/10/00 M 62,500 Immediately 9/30/09
option (right (2)
to purchase)
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(2) The remaining shares subject to the option are subject to repurchase by
Discovery upon the occurrence of certain events relating to the market price of
the common stock of Discovery, the failure of Discovery to enter into certain
collaboration agreements or a sale or merger of Discovery.
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10.
9. Owner-
Number ship
of Form
Deriv- of
7. ative Deriv- 11.
Title and Amount Secur- ative Nature
of Underlying 8. ities Secur- of
Securities Price Bene- ity: In-
(Instr. 3 and 4) of ficially Direct direct
---------------- Deriv- Owned (D) or Bene-
1. Amount ative at End In- ficial
Title of or Secur- of direct Owner-
Derivative Number ity Month (I) ship
Security of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) Title Shares 5) 4) 4) 4)
- --------------------------------------------------------------------------
Employee stock Common Stock, 125,000 62,500 D
option (right par value
to purchase) $.001 per
share
Explanation of Responses:
By:/s/ Robert Capetola March 7, 2000
**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
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