U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
/ / Check this 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)
10/99
5. If Amendment, Date of Original
(Month/Year)
6. Relationship of Reporting Person to Issuer
(Check all applicable)
X Director __X__ 10% Owner
X Officer (give title ______ Other (specify
below) below)
Chief Executive Officer
7. Individual or Joint/Group filing (Check Applicable Line)
X Form filed by One Reporting Person
_______ Form filed by More than One Reporting Person
TABLE I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of 2. Trans 3. Trans 4. Securities Acquired (A) 5. Amount of 6. Ownership 7. Nature of
Security action action or Disposed of (D) Securities Form: Indirect
(Instr.3) Date Code (Instr. 3, 4 and 5) Beneficia Direct (D) Beneficial
(Month (Instr.8) lly Owned or Ownership
/Date/ at End of Indirect
Year) Month (I) (Instr. 4)
(Inst. 3 (Instr. 4)
and 4)
--------------------------------
Code V Amount (A) or (D) Price
Common Stock 10/28/99 P 500 A $1.91 942,443 D
Common Stock 10/28/99 P 1,500 A $194 942,443 D
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TABLE II - Derivative Securities Acquired, Disposed of, or Beneficially
Owned (e.g., puts, calls, warrants, options, convertible
securities)
1. Title of 2. Conver 3. Trans 4. Transaction 5. Number of Deriv 6. Date Exercisable and
Derivative sion or action Code ative Securities Expiration Date
Security Exercise Date Acquired (A) or (Month/Day/Year)
(Instr. 3) Price of (Instr. 8) Disposed of (D)
Deri (Month
vative /Day/ (Instr. 3, 4,
Security Year) and 5)
Code V (A) (D) Date Exer Expiration
cisable Date
Options to $1.38/share 9/30/99 A 125,000 A Immediately 9/30/09
purchase (1)
shares of
Common Stock,
par value
$.001 per
share
1. Title of 7. Title and Amount of 8. Price of 9. Number of 10.Ownership 11. Nature of
Derivative Underlying Securities Derivative Derivative Form of Deri Indirect Bene
Security Security Securities vative Sec ficial Owner
(Instr. 3) (Instr.3 and 4) Beneficially urity: Direct ship (Instr.
(Instr. 5) Owned at End (D) or 4)
of Month Indirect (I)
(Instr. 4)
(Instr. 4)
Title Amount or
Number of
Shares
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Non-qualified Common Stock, 5,000 (2) 8,500 (See D
options to par value Note 1)
purchase $.001 per
shares of share
Common Stock,
par value
$.001 per
share
Explanation of Responses:
(1) The shares issuable on exercise of the options are subject to repurchase by
Discovery if certain events relating to the market price of the common stock of
Discovery, Discovery entering into certain collaboration agreements or a sale or
merger of Discovery do not occur.
By: /s/ Robert J. Capetola November 10, 1999
**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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