UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 30, 1999
------------------
Check here if Amendment [ ]; Amendment Number: ______
This Amendment (Check only one):
|_| is a restatement.
|_| adds new holdings entries.
If amended report check here: |_|
Name: PARAMOUNT CAPITAL ASSET MANAGEMENT, INC.
Address: 787 Seventh Avenue, 48th Floor, New York, NY 10019
Form 13F File Number:
-------------------------------------------------------
The entity submitting ths Form and the person by whom it is signed represent
hereby that the person signing the report is authorized to submit it, that all
information contained therein is true, correct and complete, and that it is
understood that all required items, statements and schedules are considered
intragral parts of this form
Name: Lindsay A. Rosenwald, M.D.
Title: Chairman of Paramount Capital Asset Management, Inc., the investment
manager of The Aries Master Fund, a Cayman Island exempted company and
the General Partner of the Aries Domestic Fund, L.P.
Phone: (212) 554-4300
Signature, Place, and Date of Signing:
/s/ Lindsay A. Rosenwald
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[Signature]
New York, New York
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[City, State]
November 12, 1999
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[Date]
Report Type (Check only one):
|X| 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)
|_| 13F NOTICE. (Check here if no holdings reported are in this report, and all
holdings are reported by other reporting managers(s).)
|_| 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported by
other reporting manager(s).)
<PAGE>
Form 13F Summary Page
Report Summary:
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Form 13F Information Table Value Total:
--------
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
No. 1
Form 13F File Number 28-
Name: The Aries Master Fund, a Cayman Island exempted company
No. 2
Form 13F File Number
Name: Aries Domestic Fund, L.P.
Pursuant to General Instruction 2 to Form 13F, the securities over which The
Aries Master Fund, a Cayman Island Exempted Company exercies invesment
discretion and over which Aries Domestic Fund, L.P. exercies investment
discretion are reported on its behalf on this Form 13F-HR.
<PAGE>
- -----------------------------------------
Paramount Capital Asset Management, Inc.
Form 13F
At 9/30/99
- -----------------------------------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- ------------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of Class Cusip Fair Market Shrs or SH/ Put/ Investment Other Voting Authority
Number Value(x$1000) prn amt PRN Call Discretion Managers Sole Shared None
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Applied Analytical Inds Inc. Common 037939105 $57.004 5,067 SH X No. 2 X
$131.153 11,658 SH X No. 1 X
$3.094 275 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Airborne Freight Corp. Common 009266107 $2.949 140 SH X No. 2 X
$7.140 339 SH X No. 1 X
$0.105 5 SH X X
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American Craft Brewing- Common warrants $0.469 15,000 SH X No. 2 X
Warrants $1.094 35,000 SH X No. 1 X
$0.000 0 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Aurora Biosciences Corp. Common 051920106 $80.660 5,920 SH X No. 2 X
$187.480 13,760 SH X No. 1 X
$4.360 320 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Agriobiotech Inc. Common 008494106 $56.847 13,993 SH X No. 2 X
$139.100 34,240 SH X No. 1 X
$3.104 764 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Andrx Corp. Common 034551101 $11,551.493 197,356 SH X No. 2 X
$26,573.129 453,999 SH X No. 1 X
$627.514 10,721 SH X X
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Affymetrix Inc. Common 00826T108 $4,754.433 48,299 SH X No. 2 X
$11,011.317 111,861 SH X No. 1 X
$259.580 2,637 SH X X
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American Home Products Corp. Common 026609107 $16.600 400 SH X No. 2 X
$78.850 1,900 SH X No. 1 X
$0.000 0 SH X X
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Alkermes Common 01642T108 $448.236 15,557 SH X No. 2 X
$1,040.045 36,097 SH X No. 1 X
$24.375 846 SH X X
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Alexion Pharmaceuticals Inc. Common 015351109 $13.187 894 SH X No. 2 X
$30.341 2,057 SH X No. 1 X
$0.723 49 SH X X
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Aradigm Corp. Common 38505103 $827.838 90,722 SH X No. 2 X
$1,819.096 199,353 SH X No. 1 X
$45.068 4,939 SH X X
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Aronex Common 042666206 $1,190.706 307,279 SH X No. 2 X
$2,718.669 701,592 SH X No. 1 X
$64.949 16,761 SH X X
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Arqule, Inc. Common 04269E107 $456.848 73,834 SH X No. 2 X
$1,053.960 170,337 SH X No. 1 X
$24.614 3,978 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Avant Immunotherapeutics- Common warrants 053491106 $0.000 20 SH X No. 2 X
warrants $0.000 20 SH X No. 1 X
$0.000 0 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Avigen Inc. Common 053690103 $1,094.736 91,228 SH X No. 2 X
$2,528.136 210,678 SH X No. 1 X
$59.508 4,959 SH X X
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Aviron Common 053762100 $1,089.916 44,945 SH X No. 2 X
$2,483.758 102,423 SH X No. 1 X
$59.485 2,453 SH X X
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</TABLE>
<PAGE>
- -----------------------------------------
Paramount Capital Asset Management, Inc.
Form 13F
At 9/30/99
- -----------------------------------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- ------------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of Class Cusip Fair Market Shrs or SH/ Put/ Investment Other Voting Authority
Number Value(x$1000) prn amt PRN Call Discretion Managers Sole Shared None
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Avax Technologies Common 053495305 $422.680 138,018 SH X No. 2 X
$835.720 272,888 SH X No. 1 X
$17.582 5,741 SH X X
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Biochem Pharma Inc. Common 095T108 $550.012 22,977 SH X No. 2 X
$1,276.587 53,330 SH X No. 1 X
$28.342 1,184 SH X X
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Biocryst Pharma Inc. Common 09058V103 $2,092.993 86,309 SH X No. 2 X
$4,830.479 199,195 SH X No. 1 X
$113.830 4,694 SH X X
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Becton Dickinson & Co. Common 075887109 $2.806 100 SH X No. 2 X
$11.225 400 SH X No. 1 X
$0.000 0 SH X X
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Boston Life Sciences Common 100843408 $109.797 27,027 SH X No. 2 X
$54.893 13,512 SH X No. 1 X
$5.988 1,474 SH X X
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Biogen Common 090597105 $2,390.462 30,331 SH X No. 2 X
$5,323.469 67,546 SH X No. 1 X
$130.923 1,661 SH X X
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Biopure Corporation Common 09065H105 $324.568 33,289 SH X No. 2 X
$754.650 77,400 SH X No. 1 X
$17.657 1,811 SH X X
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Care Group, Inc. Common 141653105 $0.041 100 SH X No. 2 X
$0.041 100 SH X No. 1 X
$0.000 0 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Creative BioMolecules, Inc. Common 225270107 $211.538 56,410 SH X No. 2 X
$489.244 130,465 SH X No. 1 X
$11.535 3,076 SH X X
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Cell Genesys Common 150921104 $23.570 2,993 SH X No. 2 X
$54.267 6,891 SH X No. 1 X
$0.914 116 SH X X
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Cephalon Common 156708109 $106.339 5,918 SH X No. 2 X
$247.250 13,760 SH X No. 1 X
$5.786 322 SH X X
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Collagenex Pharm. Common 19419B100 $260.838 14,905 SH X No. 2 X
$599.988 34,285 SH X No. 1 X
$14.175 810 SH X X
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Chiron Common 170040109 $3,642.955 131,574 SH X No. 2 X
$8,427.964 304,396 SH X No. 1 X
$198.630 7,174 SH X X
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Collateral Thera, Inc. Common 193921103 $947.492 49,868 SH X No. 2 X
$2,280.950 120,050 SH X No. 1 X
$55.062 2,898 SH X X
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Cardima, Inc. Common 14147M106 $147.053 112,040 SH X No. 2 X
$394.748 300,760 SH X No. 1 X
$0.000 0 SH X X
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CV Therapeutics Common 126667104 $856.425 58,559 SH X No. 2 X
$1,989.146 136,010 SH X No. 1 X
$46.727 3,195 SH X X
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</TABLE>
<PAGE>
- -----------------------------------------
Paramount Capital Asset Management, Inc.
Form 13F
At 9/30/99
- -----------------------------------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- ------------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of Class Cusip Fair Market Shrs or SH/ Put/ Investment Other Voting Authority
Number Value(x$1000) prn amt PRN Call Discretion Managers Sole Shared None
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Cybear Inc. Common 23243P103 $365.715 43,831 SH X No. 2 X
$841.709 100,879 SH X No. 1 X
$19.942 2,390 SH X X
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Cygnus Therapeutics Common 232560102 $288.816 25,744 SH X No. 2 X
$671.510 59,856 SH X No. 1 X
$15.706 1,400 SH X X
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Cypress Biosciences Common 232674101 $10,418.130 3,788,411 SH X No. 2 X
$24,010.115 8,730,951 SH X No. 1 X
$565.463 205,623 SH X X
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Depomed, Inc. - Common Common 249908104 $93.283 34,710 SH X No. 2 X
$142.948 53,190 SH X No. 1 X
$0.000 0 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Depomed Inc.- Warrants Common warrants249908104 $34.425 32,400 SH X No. 2 X
$66.513 62,600 SH X No. 1 X
$0.000 0 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Genentech Common 368710406 $2,821.637 19,285 SH X No. 2 X
$6,540.169 44,700 SH X No. 1 X
$153.921 1,052 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Derma Sciences, Inc. Common 249827106 $1.288 1,472 SH X No. 2 X
$3.052 3,488 SH X No. 1 X
$0.000 0 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Discovery Laboratories, Inc. Common 254668106 $241.219 175,432 SH X No. 2 X
$572.928 416,675 SH X No. 1 X
$1.200 873 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Endorex Corporation Common 29264N307 $1,836.602 864,283 SH X No. 2 X
$4,049.319 1,905,562 SH X No. 1 X
$13.927 6,554 SH X X
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Duramed Pharmaceuticals Common 266354109 $89.598 11,561 SH X No. 2 X
$212.583 27,430 SH X No. 1 X
$4.921 635 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
DURA Pharmaceuticals Inc. Common 26632S109 $627.188 45,000 SH X No. 2 X
$1,442.531 103,500 SH X No. 1 X
$34.217 2,455 SH X X
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Dusa Pharmaceuticals, Inc. Common 266898105 $243.208 17,372 SH X No. 2 X
$565.404 40,386 SH X No. 1 X
$13.286 949 SH X X
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Enzo Biochem Inc. Common 294100102 $84.586 2,981 SH X No. 2 X
$194.567 6,857 SH X No. 1 X
$4.597 162 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Enzon, Inc. Common 293904108 $16,174.486 530,311 SH X No. 2 X
$37,209.177 1,219,973 SH X No. 1 X
$879.681 28,842 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
E. Piphany Inc Common 26881V100 $2.925 60 SH X No. 2 X
$6.679 137 SH X No. 1 X
$0.146 3 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
- -----------------------------------------
Paramount Capital Asset Management, Inc.
Form 13F
At 9/30/99
- -----------------------------------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- ------------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of Class Cusip Fair Market Shrs or SH/ Put/ Investment Other Voting Authority
Number Value(x$1000) prn amt PRN Call Discretion Managers Sole Shared None
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Forest labs Inc. Common 345838106 $800.164 18,995 SH X No. 2 X
$1,811.965 43,014 SH X No. 1 X
$43.684 1,037 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Gillete Co. Common 375766102 $10.181 300 SH X No. 2 X
$20.363 600 SH X No. 1 X
$0.000 0 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Genzyme Common 372917104 $1,624.954 36,060 SH X No. 2 X
$3,748.569 83,186 SH X No. 1 X
$88.413 1,962 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Gilead Sciences, Inc. Common 375558103 $801.702 12,490 SH X No. 2 X
$1,850.975 28,837 SH X No. 1 X
$48.333 753 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Guilford Pharmaceuticals Inc. Common 401829106 $681.904 44,715 SH X No. 2 X
$1,568.539 102,855 SH X No. 1 X
$37.058 2,430 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Generex Common 371485103 $155.250 27,000 SH X No. 2 X
$365.913 63,637 SH X No. 1 X
$1.564 272 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Genta, Inc. Common 37245M207 $5,319.684 2,300,404 SH X No. 2 X
$12,480.523 5,396,983 SH X No. 1 X
$331.587 143,389 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Gap Inc. Common 364760108 $9.600 300 SH X No. 2 X
$4.800 150 SH X No. 1 X
$0.000 0 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Genzyme Corp. Molecular Common 372917104 $41.923 7,453 SH X No. 2 X
Oncology $96.424 17,142 SH X No. 1 X
$2.278 405 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Hemisphere Biopharma Inc. - 42366C103 $0.313 100 SH X No. 2 X
Warrants Common warrants $0.313 100 SH X No. 1 X
$0.000 0 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Human Genome Science Common 444903108 $329.810 4,472 SH X No. 2 X
$758.593 10,286 SH X No. 1 X
$17.848 242 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Healthsouth Corp. Common 421924101 $0.613 100 SH X No. 2 X
$7.350 1,200 SH X No. 1 X
$0.000 0 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Humana Inc. Common 444859102 $3.438 500 SH X No. 2 X
$3.438 500 SH X No. 1 X
$0.000 0 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Common 449370105 $4,815.810 51,215 SH X No. 2 X
$11,057.135 117,590 SH X No. 1 X
$260.937 2,775 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Ilex Oncology Inc. Common 451923106 $478.902 39,094 SH X No. 2 X
$1,112.067 90,781 SH X No. 1 X
$26.031 2,125 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Imclone Systems Common 45245W109 $1,359.792 40,896 SH X No. 2 X
$3,154.760 94,880 SH X No. 1 X
$73.948 2,224 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
- -----------------------------------------
Paramount Capital Asset Management, Inc.
Form 13F
At 9/30/99
- -----------------------------------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- ------------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of Class Cusip Fair Market Shrs or SH/ Put/ Investment Other Voting Authority
Number Value(x$1000) prn amt PRN Call Discretion Managers Sole Shared None
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Immunex Corp. Common 452528102 $646.504 14,905 SH X No. 2 X
$1,487.112 34,285 SH X No. 1 X
$35.134 810 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Incyte Pharmaceuticals Inc. Common 45337C102 $68.936 2,981 SH X No. 2 X
$158.568 6,857 SH X No. 1 X
$3.746 162 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Inhale Therapeutic Systems Common 457191104 $873.281 28,750 SH X No. 2 X
$2,026.013 66,700 SH X No. 1 X
$47.112 1,551 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Isis Pharmaceuticals Inc. Common 464330109 $134.093 11,986 SH X No. 2 X
$308.574 27,582 SH X No. 1 X
$7.317 654 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Webstakes.com Inc Common 94768K100 $6.612 745 SH X No. 2 X
$15.212 1,714 SH X No. 1 X
$0.364 41 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
DrKoop.com Inc. Common 262098106 $328.426 23,149 SH X No. 2 X
$758.294 53,448 SH X No. 1 X
$17.890 1,261 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Liberate Technologies Common 530129105 $6.277 149 SH X No. 2 X
$14.491 344 SH X No. 1 X
$0.295 7 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Liposome Co. Common 536310105 $226.836 29,810 SH X No. 2 X
$521.775 68,570 SH X No. 1 X
$12.327 1,620 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Leukosite Inc. Common 52728R102 $646.194 32,109 SH X No. 2 X
$1,495.992 74,335 SH X No. 1 X
$35.158 1,747 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Lilly (Eli) & Co. Common 532457108 $19.256 300 SH X No. 2 X
$6.419 100 SH X No. 1 X
$6.419 100 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
LightPath Technologies Inc. Common 532257102 $315.520 69,193 SH X No. 2 X
$688.109 150,901 SH X No. 1 X
$2.198 482 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
McKesson HBOC Inc. Com. Common 58155Q103 $6.119 211 SH X No. 2 X
$5.800 200 SH X No. 1 X
$0.000 0 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
MedImmune, Inc. Common 584699102 $10,355.480 103,912 SH X No. 2 X
$23,804.589 238,867 SH X No. 1 X
$560.766 5,627 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Manulife Financial Corp. Common 56501R106 $53.105 4,472 SH X No. 2 X
$122.134 10,285 SH X No. 1 X
$2.886 243 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Medical Manager Corp. Common 584614103 $444.914 8,943 SH X No. 2 X
$1,023.407 20,571 SH X No. 1 X
$24.179 486 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Milestone Scientific Comm wts Common warrants $0.000 70,606 SH X No. 2 X
$0.000 128,360 SH X No. 1 X
$0.000 0 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
- -----------------------------------------
Paramount Capital Asset Management, Inc.
Form 13F
At 9/30/99
- -----------------------------------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- ------------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of Class Cusip Fair Market Shrs or SH/ Put/ Investment Other Voting Authority
Number Value(x$1000) prn amt PRN Call Discretion Managers Sole Shared None
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Philip Morris Companies Common 718154107 $6.838 200 SH X No. 2 X
$27.350 800 SH X No. 1 X
$0.000 0 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Monsato Co. Common 611662107 $7.138 200 SH X No. 2 X
$67.806 1,900 SH X No. 1 X
$3.569 100 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Nabi Common 628716102 $538.073 103,725 SH X No. 2 X
$1,240.321 239,098 SH X No. 1 X
$29.242 5,637 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Nexell Therapeutics Inc. Common 65332H104 $1,997.755 1,360,173 SH X No. 2 X
$4,333.469 2,950,445 SH X No. 1 X
$15.520 10,567 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Novoste Corp. Common 67010C100 $7.637 428 SH X No. 2 X
$39.792 2,230 SH X No. 1 X
$0.321 18 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Neose Tech. Inc. Common 640522108 $1,104.930 73,662 SH X No. 2 X
$2,590.260 172,684 SH X No. 1 X
$113.820 7,588 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
NexMed, Inc. Common 652903105 $600.000 200,000 SH X No. 2 X
$1,368.000 456,000 SH X No. 1 X
$32.001 10,667 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Ocuear Sciences Inc. Common 675744106 $114.661 5,918 SH X No. 2 X
$266.600 13,760 SH X No. 1 X
$6.239 322 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs Common 74369L103 $2,578.350 71,373 SH X No. 2 X
$5,889.459 163,030 SH X No. 1 X
$139.623 3,865 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
PE Corp. - PE Biosystems Common 69332S102 $107.869 1,493 SH X No. 2 X
Group $248.612 3,441 SH X No. 1 X
$4.769 66 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Progenics Pharmaceuticals Common 743187106 $58.754 3,013 SH X No. 2 X
$136.500 7,000 SH X No. 1 X
$3.198 164 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Palatin Technologies Inc. Common 696077304 $358.232 114,634 SH X No. 2 X
$882.384 282,363 SH X No. 1 X
$3.819 1,222 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Penwest Pharma Co. Common 709754105 $261.864 35,507 SH X No. 2 X
$608.438 82,500 SH X No. 1 X
$14.285 1,937 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Procept Common 742683402 $598.735 456,179 SH X No. 2 X
$1,147.603 874,364 SH X No. 1 X
$0.832 634 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
QLT Phototherapeutics Inc. Common 746927102 $1,698.059 22,215 SH X No. 2 X
$3,942.417 51,577 SH X No. 1 X
$92.337 1,208 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
- -----------------------------------------
Paramount Capital Asset Management, Inc.
Form 13F
At 9/30/99
- -----------------------------------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- ------------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of Class Cusip Fair Market Shrs or SH/ Put/ Investment Other Voting Authority
Number Value(x$1000) prn amt PRN Call Discretion Managers Sole Shared None
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Ribogene Inc. Common 762565109 $112.500 45,000 SH X No. 2 X
$252.740 101,096 SH X No. 1 X
$6.138 2,455 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Repligen Corp. Common 759916109 $3,062.620 1,042,594 SH X No. 2 X
$6,999.211 2,382,710 SH X No. 1 X
$164.612 56,038 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Sepracor Common 817315104 $2,306.601 30,551 SH X No. 2 X
$5,349.930 70,860 SH X No. 1 X
$126.085 1,670 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Shire Pharmaceuticals Group Common 82481R106 $260.407 9,038 SH X No. 2 X
$588.726 20,433 SH X No. 1 X
$14.205 493 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Taro Pharmaceuticals Common $1,108.660 72,699 SH X No. 2 X
$2,531.317 165,988 SH X No. 1 X
$60.482 3,966 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Theragenics Corp. Common 883375107 $57.018 4,472 SH X No. 2 X
$131.134 10,285 SH X No. 1 X
$3.098 243 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Tivo Inc. Common 888706108 $1.796 60 SH X No. 2 X
$4.101 137 SH X No. 1 X
$0.090 3 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Titan Pharmaceuticals Common 888314101 $2,129.184 227,113 SH X No. 2 X
$4,943.119 527,266 SH X No. 1 X
$116.016 12,375 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Titan- Warrants Common warrants888314101 $577.047 170,977 SH X No. 2 X
$1,327.226 393,252 SH X No. 1 X
$31.300 9,274 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Transkaryotic Therapies Inc. Common 893735100 $1,841.537 35,845 SH X No. 2 X
$4,196.310 81,680 SH X No. 1 X
$100.490 1,956 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Triangle Pharmaceuticals Inc. Common 89589H104 $889.350 46,200 SH X No. 2 X
$1,991.740 103,467 SH X No. 1 X
$48.510 2,520 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Trimeris, Inc. Common 896263100 $222.778 13,350 SH X No. 2 X
$516.078 30,926 SH X No. 1 X
$12.082 724 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Universal Display Corporation Common 91347P105 $68.063 19,800 SH X No. 2 X
$160.418 46,667 SH X No. 1 X
$0.688 200 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
US Bioscience Common 911646206 $655.970 46,033 SH X No. 2 X
$1,524.180 106,960 SH X No. 1 X
$35.782 2,511 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Pharmaceutical & Medical Common Series 4006094 $316.602 30,000 SH X No. 2 X
Technology Growth Trust $729.747 69,148 SH X No. 1 X
$13.952 1,322 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
United Thera Corp. Common 91307C102 $577.385 19,996 SH X No. 2 X
$1,341.244 46,450 SH X No. 1 X
$31.358 1,086 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
- -----------------------------------------
Paramount Capital Asset Management, Inc.
Form 13F
At 9/30/99
- -----------------------------------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- ------------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of Class Cusip Fair Market Shrs or SH/ Put/ Investment Other Voting Authority
Number Value(x$1000) prn amt PRN Call Discretion Managers Sole Shared None
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Vical Common 925602104 $61.328 4,440 SH X No. 2 X
$142.545 10,320 SH X No. 1 X
$3.315 240 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Vertex Common 92532F100 $181.995 5,859 SH X No. 2 X
$422.916 13,615 SH X No. 1 X
$9.878 318 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
MCI Worldcom Inc. Common 55268B106 $0.000 0 SH X No. 2 X
$21.563 300 SH X No. 1 X
$50.313 700 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Watson Pharma Inc. Common 942683103 $0.000 0 SH X No. 2 X
$18.338 600 SH X No. 1 X
$0.000 0 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Xenometrix Common 984109108 $3.600 12,000 SH X No. 2 X
$6.600 22,000 SH X No. 1 X
$0.000 0 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Xenometrix-Wts Common warrants984109116 $0.944 12,000 SH X No. 2 X
$1.415 18,000 SH X No. 1 X
$0.000 0 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Xoma Ltd. Common $65.788 22,396 SH X No. 2 X
$151.619 51,615 SH X No. 1 X
$0.864 294 SH X X
- ------------------------------------------------------------------------------------------------------------------------------------
Andrx Corp. Call 12/60 Long Calls 034551101 $61.200 10,200 SH Call X No. 2 X
$139.800 23,300 SH Call X No. 1 X
$3.600 600 SH Call X X
- ------------------------------------------------------------------------------------------------------------------------------------
Amazon.com Put 1/33.375 Long Puts 023135106 $0.744 3,400 SH Put X No. 2 X
$1.706 7,800 SH Put X No. 1 X
$0.044 200 SH Put X X
- ------------------------------------------------------------------------------------------------------------------------------------
Cygnus Inc. Call 12/15 Long Calls 232560102 $51.219 74,500 SH Call X No. 2 X
$118.250 172,000 SH Call X No. 1 X
$2.406 3,500 SH Call X X
- ------------------------------------------------------------------------------------------------------------------------------------
Cygnus Inc. Call 12/12.5 Long Calls 232560102 $92.625 74,100 SH Call X No. 2 X
$215.000 172,000 SH Call X No. 1 X
$4.875 3,900 SH Call X X
- ------------------------------------------------------------------------------------------------------------------------------------
Guilford Pharma. Call 12/15 Long Calls 401829106 $58.163 28,200 SH Call X No. 2 X
$132.825 64,400 SH Call X No. 1 X
$3.094 1,500 SH Call X X
- ------------------------------------------------------------------------------------------------------------------------------------
Imclone Call 11/15 Long Calls 45245W109 $0.000 SH Call X No. 2 X
$0.000 0 SH Call X No. 1 X
$5.494 300 SH Call X X
- ------------------------------------------------------------------------------------------------------------------------------------
Imclone Call 11/25 Long Calls 45245W109 $232.000 25,600 SH Call X No. 2 X
$530.156 58,500 SH Call X No. 1 X
$9.969 1,100 SH Call X X
- ------------------------------------------------------------------------------------------------------------------------------------
Miravant Medical Tech Long Calls 604690107 $14.750 8,000 SH Call X No. 2 X
Call 3/12.5 $34.109 18,500 SH Call X No. 1 X
$0.922 500 SH Call X X
- ------------------------------------------------------------------------------------------------------------------------------------
Monsanto Call 1/55 Long Calls 611662107 $0.225 400 SH Call X No. 2 X
$0.506 900 SH Call X No. 1 X
$0.056 100 SH Call X X
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
- -----------------------------------------
Paramount Capital Asset Management, Inc.
Form 13F
At 9/30/99
- -----------------------------------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
- ------------------------------------------------------------------------------------------------------------------------------------
Name of Issuer Title of Class Cusip Fair Market Shrs or SH/ Put/ Investment Other Voting Authority
Number Value(x$1000) prn amt PRN Call Discretion Managers Sole Shared None
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Novoste Corp. Call 10/30 Long Calls 67010C100 $4.781 30,600 SH Call X No. 2 X
$10.938 70,000 SH Call X No. 1 X
$0.266 1,700 SH Call X X
- ------------------------------------------------------------------------------------------------------------------------------------
Sepracor Inc. Call 1/85 Long Calls 817315104 $114.800 16,400 SH Call X No. 2 X
$272.300 38,900 SH Call X No. 1 X
$6.300 900 SH Call X X
- ------------------------------------------------------------------------------------------------------------------------------------
Sepracor Inc. Call 1/90 Long Calls 817315104 $172.688 30,700 SH Call X No. 2 X
$394.875 70,200 SH Call X No. 1 X
$9.563 1,700 SH Call X X
- ------------------------------------------------------------------------------------------------------------------------------------
Pharmacia & Upjohn Put 11/15 Long Puts $5.259 33,660 SH Put X No. 2 X
$12.009 76,860 SH Put X No. 1 X
$0.291 1,860 SH Put X X
- ------------------------------------------------------------------------------------------------------------------------------------
Zonagen Inc. Call 11/17.5 Long Calls 98975L108 $2.313 14,800 SH Call X No. 2 X
$4.406 28,200 SH Call X No. 1 X
$0.109 700 SH Call X X
- ------------------------------------------------------------------------------------------------------------------------------------
============
$411,914.34
============
</TABLE>
