UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended June 30, 2000
Check here if Amendment |_|: Amendment Number:______
This Amendment (Check only one):
|_| is a restatement
|_| adds new holding entries
If amended report check here:
PARAMOUNT CAPITAL ASSET MANAGEMENT, INC.
--------------------------------------------------------------------------------
Name of Institutional Investment Manager
787 Seventh Avenue, 48th floor, New York, New York 10019
--------------------------------------------------------------------------------
Business Address (Street) (City) (State) (Zip)
Form 13F File Number
------------------------------------------------------------
The entity submitting this 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
integral 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
----------------------------------------
{Signature]
New York, New York
----------------------------------------
[City, State]
August 11, 2000
----------------------------------------
[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.)
|_| 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).)
Number of Other Included Managers:
Two (2)
----------------------------------------
Form 13F Information Table Entry Total:
----------------------------------------
<PAGE>
Form 13F Information Table Value Total:
----------------------------------------
List other Included Managers:
Provide a numbered list of the name(s) and Form 13F file numbers 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 ___
Name: The Aries Master Fund II, 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 II exercises investment discretion and over which Aries
Domestic Fund, L.P. exercises investment discretion are reported on its behalf
on this Form 13F-HR.
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Abgenix, Inc Common 00339B107 $880.01 7,342 SH X No. 2 X
$1,664.37 13,886 SH X No. 1 X
$212.39 1,772 SH X X
------------------------------------------------------------------------------------------------------------------------------------
American Craft
Brewing-Warrants Common warrants $0.47 15,000 SH X No. 2 X
$1.09 35,000 SH X No. 1 X
$0.00 0 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Andrx Corp. Common 34551101 $41,579.46 650,473 SH X No. 2 X
$79,516.84 1,243,969 SH X No. 1 X
$10,155.91 158,880 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Affymetrix Inc. Common 00826T108 $261.56 1,584 SH X No. 2 X
$500.16 3,029 SH X No. 1 X
$63.90 387 SH X X
------------------------------------------------------------------------------------------------------------------------------------
American Home
Products Corp. Common 26609107 $558.36 9,504 SH X No. 2 X
$1,067.78 18,175 SH X No. 1 X
$136.36 2,321 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Alkermes Common 01642T108 $895.75 19,008 SH X No. 2 X
$1,712.90 36,348 SH X No. 1 X
$218.85 4,644 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Common 031162100 $5,180.09 73,738 SH X No. 2 X
$9,735.67 138,586 SH X No. 1 X
$1,241.74 17,676 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Abercrombie&Fitch Co. Common 002896207 $231.66 19,008 SH X No. 2 X
$443.02 36,350 SH X No. 1 X
$56.57 4,642 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Aradigm Corp. Common 38505103 $8,422.23 481,270 SH X No. 2 X
$16,106.72 920,384 SH X No. 1 X
$2,057.16 117,552 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Avant Immunotherapeutics-
warrants Common warrants 053491106 $0.12 20 SH X No. 2 X
$0.12 20 SH X No. 1 X
$0.00 0 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Avigen, Inc. Common 053690103 $8,158.66 185,952 SH X No. 2 X
$16,715.10 380,971 SH X No. 1 X
$1,210.24 27,584 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Aviron Common 053762100 $97.81 3,168 SH X No. 2 X
$187.04 6,058 SH X No. 1 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$23.90 774 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Avax Technologies Common 053495305 $1,150.03 126,900 SH X No. 2 X
$2,653.36 292,784 SH X No. 1 X
$182.45 20,132 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Biotech Holders Trust Common 09067D201 $1,691.71 9,504 SH X No. 2 X
$3,234.97 18,174 SH X No. 1 X
$413.32 2,322 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Biocryst Pharma Inc. Common 09058V103 $4,845.78 168,916 SH X No. 2 X
$8,975.72 312,879 SH X No. 1 X
$1,143.25 39,852 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Bristol Myers Squibb Co. Common 110122108 $738.14 12,672 SH X No. 2 X
$1,411.57 24,233 SH X No. 1 X
$180.28 3,095 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Care Group, Inc. Common 141653105 $0.04 100 SH X No. 2 X
$0.04 100 SH X No. 1 X
$0.00 0 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Cubist Pharmaceuticals Common 229678107 $156.02 3,168 SH X No. 2 X
$298.36 6,058 SH X No. 1 X
$38.12 774 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Celgene Common 151020104 $279.77 4,752 SH X No. 2 X
$535.00 9,087 SH X No. 1 X
$68.35 1,161 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Therapeutics Inc. Common 150934107 $10,079.67 329,132 SH X No. 2 X
$19,548.49 638,318 SH X No. 1 X
$2,141.61 69,930 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Cephalon, Inc. Common 156708109 $379.37 6,336 SH X No. 2 X
$725.45 12,116 SH X No. 1 X
$92.69 1,548 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Chiron Common 170040109 $303.62 6,392 SH X No. 2 X
$573.23 12,068 SH X No. 1 X
$73.15 1,540 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Collagenesis Corp Common $35.00 7,778 SH X No. 2 X
$65.00 14,444 SH X No. 1 X
$0.00 0 SH X X
------------------------------------------------------------------------------------------------------------------------------------
CV Therapeutics Common 126667104 $1,473.38 21,257 SH X No. 2 X
$2,817.55 40,650 SH X No. 1 X
$359.94 5,193 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Cygnus Therapeutics Common 232560102 $225.72 15,840 SH X No. 2 X
$431.65 30,291 SH X No. 1 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$55.13 3,869 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Cypress Biosciences, Inc. Common 232674101 $8,334.37 4,167,185 SH X No. 2 X
$19,387.54 9,693,768 SH X No. 1 X
$658.46 329,232 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Digene Corp Common 253752109 $0.00 0 SH X No. 2 X
$0.00 0 SH X No. 1 X
$4.97 123 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Discovery Laboratories,
Inc. Common 254668106 $828.28 184,062 SH X No. 2 X
$1,952.44 433,875 SH X No. 1 X
$13.24 2,943 SH X X
------------------------------------------------------------------------------------------------------------------------------------
DoubleClick, Inc. Common 258609304 $362.34 9,504 SH X No. 2 X
$692.92 18,175 SH X No. 1 X
$88.49 2,321 SH X X
------------------------------------------------------------------------------------------------------------------------------------
e-MedSoft.com Common 26873Q101 $2,359.70 294,962 SH X No. 2 X
$5,354.67 669,334 SH X No. 1 X
$285.63 35,704 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Endorex Corporation Common 29264N307 $2,615.06 996,214 SH X No. 2 X
$5,813.04 2,214,493 SH X No. 1 X
$53.25 20,284 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Enzo Biochem Inc. Common 294100102 $765.07 11,088 SH X No. 2 X
$1,463.01 21,203 SH X No. 1 X
$190.10 2,755 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon, Inc. Common 293904108 $23,464.04 552,095 SH X No. 2 X
$44,872.18 1,055,816 SH X No. 1 X
$5,731.08 134,849 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Electro Optical
Engineering, Inc. Common 302043104 $0.00 0 SH X No. 2 X
$0.00 0 SH X No. 1 X
$0.00 0 SH X X
------------------------------------------------------------------------------------------------------------------------------------
GenStar Therapeutics Corp Common 37248D105 $9,525.97 1,555,261 SH X No. 2 X
$20,303.34 3,314,831 SH X No. 1 X
$1,589.72 259,546 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Gilead Sciences, Inc. Common 375558103 $450.65 6,336 SH X No. 2 X
$861.75 12,116 SH X No. 1 X
$110.10 1,548 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Genentech Common 368710406 $7,083.48 41,183 SH X No. 2 X
$13,546.55 78,759 SH X No. 1 X
$1,729.98 10,058 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Genta, Inc. Common 37245M207 $16,807.36 2,585,747 SH X No. 2 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$36,379.07 5,596,780 SH X No. 1 X
$3,576.62 550,249 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Global Phototonic
Energy Corp. Common $304.32 121,726 SH X No. 2 X
$648.08 259,230 SH X No. 1 X
$47.61 19,044 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Globespan, Inc Common 379571102 $348.04 2,851 SH X No. 2 X
$665.69 5,453 SH X No. 1 X
$84.97 696 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Hemisphere Biopharma
Inc. - Warrants Common warrants 42366C103 $0.24 100 SH X No. 2 X
$0.24 100 SH X No. 1 X
$0.00 0 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Human Genome Sciences Inc. Common 444903108 $6,345.45 47,576 SH X No. 2 X
$12,113.78 90,825 SH X No. 1 X
$1,547.02 11,599 SH X X
------------------------------------------------------------------------------------------------------------------------------------
HeavenlyDoor.com Inc. Common 42248Q106 $2,120.57 2,827,431 SH X No. 2 X
$4,100.68 5,467,579 SH X No. 1 X
$9.75 12,995 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Internet Holders Trust Common 46059W102 $261.75 2,418 SH X No. 2 X
$487.99 4,508 SH X No. 1 X
$62.14 574 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Internet Tradeline Common $25.00 25,000 SH X No. 2 X
$25.00 25,000 SH X No. 1 X
$0.00 0 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Healtheon Common $22.37 1,510 SH X No. 2 X
$46.29 3,125 SH X No. 1 X
$5.41 365 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Imclone Systems Common 45245W109 $363.23 4,752 SH X No. 2 X
$694.59 9,087 SH X No. 1 X
$88.74 1,161 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Immunomedics, Inc Common 452907108 $23,051.98 940,897 SH X No. 2 X
$47,459.49 1,937,122 SH X No. 1 X
$3,815.85 155,749 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Immunex Corp. Common 452528102 $2,586.97 52,328 SH X No. 2 X
$4,939.40 99,912 SH X No. 1 X
$630.82 12,760 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Incyte Pharmaceuticals
Inc. Common 45337C102 $260.37 3,168 SH X No. 2 X
$497.89 6,058 SH X No. 1 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$63.61 774 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Johnson & Johnson Common 478160104 $1,129.59 11,088 SH X No. 2 X
$2,160.16 21,204 SH X No. 1 X
$275.88 2,708 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Kimeragen, Inc. Common $39.02 9,515 SH X No. 2 X
$59.14 12,030 SH X No. 1 X
$0.00 0 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Landcorp, Inc. Common 514756105 $58.02 12,893 SH X No. 2 X
$110.96 24,658 SH X No. 1 X
$14.17 3,149 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Lexicon Genetics, Inc Common 528872104 $110.83 3,224 SH X No. 2 X
$206.59 6,010 SH X No. 1 X
$26.33 766 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Lilly (Eli) & Co. Common 532457108 $1,107.41 11,088 SH X No. 2 X
$2,117.75 21,204 SH X No. 1 X
$270.46 2,708 SH X X
------------------------------------------------------------------------------------------------------------------------------------
LJL Biosystems inc Common 501873103 $655.40 33,827 SH X No. 2 X
$1,356.41 70,008 SH X No. 1 X
$119.45 6,165 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Lorus Therapeutics Inc. Common 544191109 $3,410.31 1,651,483 SH X No. 2 X
$6,356.08 3,078,006 SH X No. 1 X
$810.03 392,268 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Maxygen Inc Common 577776107 $431.59 7,603 SH X No. 2 X
$825.32 14,539 SH X No. 1 X
$105.47 1,858 SH X X
------------------------------------------------------------------------------------------------------------------------------------
McKesson HBOC Inc. Com Common 58155Q103 $303.80 14,510 SH X No. 2 X
$566.21 27,043 SH X No. 1 X
$72.17 3,447 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Medarex Inc. Common 583916101 $406.28 4,808 SH X No. 2 X
$763.80 9,039 SH X No. 1 X
$97.43 1,153 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Millenium Pharmaceutical
inc Common 599902103 $2,020.24 18,058 SH X No. 2 X
$3,863.16 34,531 SH X No. 1 X
$493.48 4,411 SH X X
------------------------------------------------------------------------------------------------------------------------------------
MotherNature.com Common 61978K105 $0.45 369 SH X No. 2 X
$1.02 837 SH X No. 1 X
$0.07 59 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Neose Tech. Common 640522108 $4,170.96 99,161 SH X No. 2 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$9,378.17 222,958 SH X No. 1 X
$675.10 16,050 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Neurobiological
Technologies Common 64124W106 $1,744.66 355,872 SH X No. 2 X
$4,291.06 875,280 SH X No. 1 X
$138.98 28,348 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Nexell Therapeutics Inc. Common 65332H203 $70.69 4,752 SH X No. 2 X
$135.17 9,087 SH X No. 1 X
$17.27 1,161 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Nexmed Inc. Common 652903105 $0.00 0 SH X No. 2 X
$0.00 0 SH X No. 1 X
$0.52 55 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Numerical Technologies,
Inc Common 67053T101 $14.68 302 SH X No. 2 X
$30.39 625 SH X No. 1 X
$3.55 73 SH X X
------------------------------------------------------------------------------------------------------------------------------------
NPS Pharmaceuticals Common 62936P103 $407.70 15,241 SH X No. 2 X
$861.08 32,190 SH X No. 1 X
$68.72 2,569 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Oral Tech., Inc. Common $126.59 34,631 SH X No. 2 X
$291.16 79,650 SH X No. 1 X
$7.25 1,983 SH X X
------------------------------------------------------------------------------------------------------------------------------------
OraPharma, Inc Common 68554E106 $30.21 3,021 SH X No. 2 X
$62.50 6,250 SH X No. 1 X
$7.29 729 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Orchid BioSciences Inc. Common 68571P100 $122.41 3,224 SH X No. 2 X
$228.19 6,010 SH X No. 1 X
$29.08 766 SH X X
------------------------------------------------------------------------------------------------------------------------------------
OSI Pharma Inc Common 671040103 $182.56 6,336 SH X No. 2 X
$349.09 12,116 SH X No. 1 X
$44.60 1,548 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs Common 74369L103 $4,669.33 28,307 SH X No. 2 X
$8,877.94 53,821 SH X No. 1 X
$1,133.56 6,872 SH X X
------------------------------------------------------------------------------------------------------------------------------------
PE Corp. - PE
Biosystems Group Common 693325102 $313.04 4,752 SH X No. 2 X
$598.61 9,087 SH X No. 1 X
$76.48 1,161 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Pfizer Inc. Common 717081103 $3,833.81 79,871 SH X No. 2 X
$5,858.93 122,061 SH X No. 1 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$987.22 20,567 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Phytotech Common 718954100 $0.00 2,667 SH X No. 2 X
$0.00 6,222 SH X No. 1 X
$0.00 0 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Progenics Pharmaceuticals Common 743187106 $45.14 3,168 SH X No. 2 X
$86.33 6,058 SH X No. 1 X
$11.03 774 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Praecis Pharmaceuticals,
Inc Common 739421105 $485.69 17,424 SH X No. 2 X
$928.80 33,320 SH X No. 1 X
$118.64 4,256 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Palatin Technologies Inc. Common 696077304 $805.27 115,038 SH X No. 2 X
$1,976.54 282,363 SH X No. 1 X
$25.68 3,669 SH X X
------------------------------------------------------------------------------------------------------------------------------------
QXL.Com PLC ADS WI Common 74912W101 $3.42 441 SH X No. 2 X
$7.97 1,029 SH X No. 1 X
$0.23 30 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Repligen Corp. Common 759916109 $8,379.32 1,334,021 SH X No. 2 X
$20,703.77 3,296,122 SH X No. 1 X
$1,393.23 221,807 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Schering-Plough Corp. Common 806605101 $3,450.77 68,332 SH X No. 2 X
$6,599.24 130,678 SH X No. 1 X
$842.85 16,690 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Storage Networks, Inc. Common 86211E103 $0.00 0 SH X No. 2 X
$0.00 0 SH X No. 1 X
$0.00 0 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Tularik, Inc. Common 899165104 $446.01 15,119 SH X No. 2 X
$847.12 28,716 SH X No. 1 X
$108.12 3,665 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Tanox, Inc Common 87588Q109 $19,440.28 410,891 SH X No. 2 X
$35,968.05 760,223 SH X No. 1 X
$4,631.23 97,886 SH X X
------------------------------------------------------------------------------------------------------------------------------------
United Thera Corp. Common 91307C102 $171.67 1,584 SH X No. 2 X
$328.27 3,029 SH X No. 1 X
$41.94 387 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Vianet Technologies Common 925537109 $294.50 100,000 SH X No. 2 X
$628.27 213,333 SH X No. 1 X
$58.90 20,000 SH X X
------------------------------------------------------------------------------------------------------------------------------------
ViroLogic, Inc. Common 92823R201 $1,678.73 112,856 SH X No. 2 X
$3,128.78 210,338 SH X No. 1 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$398.74 26,806 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Virage Inc. Common 92763Q106 $16.60 919 SH X No. 2 X
$31.74 1,757 SH X No. 1 X
$4.05 224 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Vertex Common 92532F100 $1,405.39 13,337 SH X No. 2 X
$2,687.59 25,505 SH X No. 1 X
$343.31 3,258 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Watson Pharma Inc. Common 942683103 $440.86 8,202 SH X No. 2 X
$801.04 14,903 SH X No. 1 X
$101.86 1,895 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Xenometrix-Wts Common warrants 984109116 $1.12 12,000 SH X No. 2 X
$1.69 18,000 SH X No. 1 X
$0.00 0 SH X X
------------------------------------------------------------------------------------------------------------------------------------
Abbott Laboratories.
Calls 1/50 Long Calls 002824100 $462.43 69,800 SH Calls X No. 2 X
$1,030.85 155,600 SH Calls X No. 1 X
$51.68 7,800 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Inc Call 7/50 Long Calls 031162100 $50.63 2,500 SH Calls X No. 2 X
$113.40 5,600 SH Calls X No. 1 X
$4.05 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Call 1/40 Long Calls 031162100 $173.90 4,700 SH Calls X No. 2 X
$436.60 11,800 SH Calls X No. 1 X
$14.80 400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Inc Call 1/45 Long Calls 031162100 $24.68 700 SH Calls X No. 2 X
$59.93 1,700 SH Calls X No. 1 X
$3.53 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Inc Call 1/50 Long Calls 031162100 $28.13 900 SH Calls X No. 2 X
$56.25 1,800 SH Calls X No. 1 X
$6.25 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Inc Call 1/55 Long Calls 031162100 $31.76 1,100 SH Calls X No. 2 X
$54.86 1,900 SH Calls X No. 1 X
$5.78 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Inc Call 1/60 Long Calls 031162100 $25.63 1,000 SH Calls X No. 2 X
$61.50 2,400 SH Calls X No. 1 X
$5.13 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Inc Call 1/65 Long Calls 031162100 $26.26 1,100 SH Calls X No. 2 X
$64.46 2,700 SH Calls X No. 1 X
$4.78 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Call 1/33.75 Long Calls 031162100 $254.60 6,700 SH Calls X No. 2 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$558.60 14,700 SH Calls X No. 1 X
$41.80 1,100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Call 1/31.25 Long Calls 031162100 $44.41 1,100 SH Calls X No. 2 X
$84.79 2,100 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Call 1/27.5 Long Calls 031162100 $48.26 1,100 SH Calls X No. 2 X
$92.14 2,100 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Call 1/30 Long Calls 031162100 $45.51 1,100 SH Calls X No. 2 X
$86.89 2,100 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Call 1/32.5 Long Calls 031162100 $43.18 1,100 SH Calls X No. 2 X
$82.43 2,100 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Call 1/35 Long Calls 031162100 $243.71 6,700 SH Calls X No. 2 X
$534.71 14,700 SH Calls X No. 1 X
$40.01 1,100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Inc. Call 1/36.25 Long Calls 031162100 $200.90 5,600 SH Calls X No. 2 X
$430.50 12,000 SH Calls X No. 1 X
$50.23 1,400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Inc. Call 1/40 Long Calls 031162100 $182.70 5,600 SH Calls X No. 2 X
$391.50 12,000 SH Calls X No. 1 X
$45.68 1,400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Call 1/26.25 Long Calls 031162100 $54.00 1,200 SH Calls X No. 2 X
$99.00 2,200 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Amgen Call 1/28.75 Long Calls 031162100 $46.89 1,100 SH Calls X No. 2 X
$89.51 2,100 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Andrx Corp Call 9/52.5 Long Calls 034551101 $97.46 6,900 SH Calls X No. 2 X
$210.46 14,900 SH Calls X No. 1 X
$12.71 900 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Andrx Corp Call 9/55 Long Calls 034551101 $97.85 7,600 SH Calls X No. 2 X
$212.44 16,500 SH Calls X No. 1 X
$12.88 1,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Andrx Corp Call 9/57.5 Long Calls 034551101 $98.90 9,200 SH Calls X No. 2 X
$211.78 19,700 SH Calls X No. 1 X
$13.98 1,300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Andrx Corp Call 9/45 Long Calls 034551101 $76.95 3,800 SH Calls X No. 2 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$164.03 8,100 SH Calls X No. 1 X
$10.13 500 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Andrx Corp Call 9/47.5 Long Calls 034551101 $76.13 4,200 SH Calls X No. 2 X
$168.56 9,300 SH Calls X No. 1 X
$9.06 500 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Andrx Corp Call 9/50 Long Calls 034551101 $83.20 5,200 SH Calls X No. 2 X
$187.20 11,700 SH Calls X No. 1 X
$9.60 600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Andrx Corp Call 9/30 Long Calls 034551101 $208.93 6,100 SH Calls X No. 2 X
$455.53 13,300 SH Calls X No. 1 X
$27.40 800 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Andrx Corp Call 9/32.5 Long Calls 034551101 $234.95 7,400 SH Calls X No. 2 X
$498.48 15,700 SH Calls X No. 1 X
$38.10 1,200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Andrx Corp Call 9/35 Long Calls 034551101 $258.50 8,800 SH Calls X No. 2 X
$564.00 19,200 SH Calls X No. 1 X
$38.19 1,300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Andrx Corp Call 9/37.5 Long Calls 034551101 $276.68 10,200 SH Calls X No. 2 X
$604.89 22,300 SH Calls X No. 1 X
$43.40 1,600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Andrx Corp Call 9/11.25 Long Calls 034551101 $176.40 4,800 SH Calls X No. 2 X
$393.23 10,700 SH Calls X No. 1 X
$25.73 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aradigm Corp Call 7/5 Long Calls 38505103 $0.00 0 SH Calls X No. 2 X
$0.00 0 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aradigm Corp Call 7/7.5 Long Calls 38505103 $5.70 600 SH Calls X No. 2 X
$12.35 1,300 SH Calls X No. 1 X
$0.95 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aradigm Corp. Call 10/25 Long Calls 38505103 $3.58 2,200 SH Calls X No. 2 X
$7.64 4,700 SH Calls X No. 1 X
$0.98 600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aradigm Corp. Call 10/30 Long Calls 38505103 $1.88 2,500 SH Calls X No. 2 X
$3.98 5,300 SH Calls X No. 1 X
$0.53 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aradigm Corp Call 10/15 Long Calls 38505103 $12.51 2,600 SH Calls X No. 2 X
$27.43 5,700 SH Calls X No. 1 X
$2.89 600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aradigm Corp Call 10/20 Long Calls 38505103 $9.28 3,300 SH Calls X No. 2 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$20.25 7,200 SH Calls X No. 1 X
$2.25 800 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aradigm Corp Call 10/12.5 Long Calls 38505103 $14.70 2,400 SH Calls X No. 2 X
$30.63 5,000 SH Calls X No. 1 X
$3.68 600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aradigm Corp Call 10/17.5 Long Calls 38505103 $11.44 3,000 SH Calls X No. 2 X
$24.40 6,400 SH Calls X No. 1 X
$2.67 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aviron Call 8/15 Long Calls 053762100 $67.20 4,200 SH Calls X No. 2 X
$152.00 9,500 SH Calls X No. 1 X
$8.00 500 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aviron Call 8/20 Long Calls 053762100 $64.84 5,700 SH Calls X No. 2 X
$144.46 12,700 SH Calls X No. 1 X
$6.83 600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aviron Call 8/12.5 Long Calls 053762100 $62.90 3,400 SH Calls X No. 2 X
$142.45 7,700 SH Calls X No. 1 X
$5.55 300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aviron Call 8/17.5 Long Calls 053762100 $70.85 5,200 SH Calls X No. 2 X
$160.78 11,800 SH Calls X No. 1 X
$6.81 500 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aviron Call 11/25 Long Calls 053762100 $45.43 4,600 SH Calls X No. 2 X
$93.81 9,500 SH Calls X No. 1 X
$11.85 1,200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aviron Call 11/30 Long Calls 053762100 $22.50 3,000 SH Calls X No. 2 X
$45.00 6,000 SH Calls X No. 1 X
$6.00 800 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aviron Call 11/22.5 Long Calls 053762100 $86.45 7,600 SH Calls X No. 2 X
$183.14 16,100 SH Calls X No. 1 X
$20.48 1,800 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Aviron Call 8/22.5 Long Calls 053762100 $25.31 2,700 SH Calls X No. 2 X
$56.25 6,000 SH Calls X No. 1 X
$1.88 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biochem Pharma Inc.
Call 1/20 Long Calls 09058T108 $37.10 5,600 SH Calls X No. 2 X
$80.16 12,100 SH Calls X No. 1 X
$9.28 1,400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biochem Pharma Inc.
Call 1/25 Long Calls 09058T108 $22.05 5,600 SH Calls X No. 2 X
$47.64 12,100 SH Calls X No. 1 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$5.51 1,400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biochem Pharma Inc.
Call 1/30 Long Calls 09058T108 $12.25 5,600 SH Calls X No. 2 X
$26.47 12,100 SH Calls X No. 1 X
$3.06 1,400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biogen, Inc. Call 1/35 Long Calls 090597105 $117.01 3,700 SH Calls X No. 2 X
$256.16 8,100 SH Calls X No. 1 X
$31.63 1,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biogen, Inc. Call 1/40 Long Calls 090597105 $102.21 3,700 SH Calls X No. 2 X
$223.76 8,100 SH Calls X No. 1 X
$27.63 1,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biogen, Inc. Call 1/45 Long Calls 090597105 $89.73 3,700 SH Calls X No. 2 X
$196.43 8,100 SH Calls X No. 1 X
$24.25 1,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biogen, Inc. Call 1/32.5 Long Calls 090597105 $124.88 3,700 SH Calls X No. 2 X
$273.38 8,100 SH Calls X No. 1 X
$33.75 1,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biogen, Inc. Call 1/37.5 Long Calls 090597105 $109.61 3,700 SH Calls X No. 2 X
$239.96 8,100 SH Calls X No. 1 X
$29.63 1,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biogen, Inc. Call 1/42.5 Long Calls 090597105 $94.81 3,700 SH Calls X No. 2 X
$207.56 8,100 SH Calls X No. 1 X
$25.63 1,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biogen, Inc. Call 1/90 Long Calls 090597105 $17.19 1,100 SH Calls X No. 2 X
$39.06 2,500 SH Calls X No. 1 X
$3.13 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Biogen, Inc. Call 1/95 Long Calls 090597105 $17.40 1,200 SH Calls X No. 2 X
$39.15 2,700 SH Calls X No. 1 X
$2.90 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Bristol-Myers Squibb Co.
Calls 1/90 Long Calls 110122108 $8.94 2,700 SH Calls X No. 2 X
$22.19 6,700 SH Calls X No. 1 X
$0.99 300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Bristol Myers Squibb CO.
Call 1/100 Long Calls 110122108 $113.60 56,800 SH Calls X No. 2 X
$252.80 126,400 SH Calls X No. 1 X
$12.40 6,200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Put 7/5 Long Puts 15114R101 $23.42 124,900 SH Puts X No. 2 X
$49.61 264,600 SH Puts X No. 1 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$3.86 20,600 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Put 7/25 Long Puts 15114R101 $73.01 23,600 SH Puts X No. 2 X
$154.69 50,000 SH Puts X No. 1 X
$12.38 4,000 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Put 7/30 Long Puts 15114R101 $127.40 18,200 SH Puts X No. 2 X
$263.20 37,600 SH Puts X No. 1 X
$21.70 3,100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Put 7/35 Long Puts 15114R101 $152.95 13,300 SH Puts X No. 2 X
$322.00 28,000 SH Puts X No. 1 X
$26.45 2,300 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Put 7/40 Long Puts 15114R101 $48.21 2,900 SH Puts X No. 2 X
$101.41 6,100 SH Puts X No. 1 X
$8.31 500 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Put 7/45 Long Puts 15114R101 $51.90 2,400 SH Puts X No. 2 X
$112.45 5,200 SH Puts X No. 1 X
$8.65 400 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Put 7/7.5 Long Puts 15114R101 $11.03 70,600 SH Puts X No. 2 X
$23.33 149,300 SH Puts X No. 1 X
$1.81 11,600 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Put 7/17.5 Long Puts 15114R101 $14.05 28,100 SH Puts X No. 2 X
$29.90 59,800 SH Puts X No. 1 X
$2.35 4,700 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Put 7/22.5 Long Puts 15114R101 $48.83 27,900 SH Puts X No. 2 X
$103.78 59,300 SH Puts X No. 1 X
$8.05 4,600 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Inc.
Call 7/10 Long Calls 15114R101 $17.49 93,300 SH Calls X No. 2 X
$37.80 201,600 SH Calls X No. 1 X
$2.79 14,900 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Inc.
Call 7/15 Long Calls 15114R101 $8.93 40,800 SH Calls X No. 2 X
$19.43 88,800 SH Calls X No. 1 X
$1.47 6,700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Inc.
Call 7/20 Long Calls 15114R101 $34.88 37,200 SH Calls X No. 2 X
$73.97 78,900 SH Calls X No. 1 X
$5.63 6,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Inc.
Call 7/12.5 Long Calls 15114R101 $8.98 47,900 SH Calls X No. 2 X
$19.44 103,700 SH Calls X No. 1 X
$1.50 8,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Puts 10/40 Long Puts 15114R101 $75.00 4,000 SH Puts X No. 2 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$146.25 7,800 SH Puts X No. 1 X
$15.00 800 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Puts 10/45 Long Puts 15114R101 $74.00 3,200 SH Puts X No. 2 X
$164.19 7,100 SH Puts X No. 1 X
$9.25 400 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Puts 10/50 Long Puts 15114R101 $77.35 2,800 SH Puts X No. 2 X
$162.99 5,900 SH Puts X No. 1 X
$11.05 400 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Puts 10/55 Long Puts 15114R101 $77.70 2,400 SH Puts X No. 2 X
$168.35 5,200 SH Puts X No. 1 X
$12.95 400 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Puts 10/60 Long Puts 15114R101 $89.40 2,400 SH Puts X No. 2 X
$163.90 4,400 SH Puts X No. 1 X
$14.90 400 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Puts 10/65 Long Puts 15114R101 $84.00 2,000 SH Puts X No. 2 X
$168.00 4,000 SH Puts X No. 1 X
$16.80 400 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Puts 10/70 Long Puts 15114R101 $89.06 1,900 SH Puts X No. 2 X
$168.75 3,600 SH Puts X No. 1 X
$18.75 400 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Cell Pathways Puts 10/75 Long Puts 15114R101 $82.80 1,600 SH Puts X No. 2 X
$165.60 3,200 SH Puts X No. 1 X
$20.70 400 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Chiron Corp. Call 1/15 Long Calls 170040109 $39.90 1,400 SH Calls X No. 2 X
$85.50 3,000 SH Calls X No. 1 X
$11.40 400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Chiron Corp. Call 1/25 Long Calls 170040109 $34.65 1,400 SH Calls X No. 2 X
$74.25 3,000 SH Calls X No. 1 X
$9.90 400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Chiron Corp. Call 1/30 Long Calls 170040109 $28.88 1,400 SH Calls X No. 2 X
$61.88 3,000 SH Calls X No. 1 X
$8.25 400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Chiron Corp. Call 1/35 Long Calls 170040109 $23.63 1,400 SH Calls X No. 2 X
$50.63 3,000 SH Calls X No. 1 X
$6.75 400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Chiron Corp. Call 1/15 Long Calls 170040109 $48.65 1,400 SH Calls X No. 2 X
$104.25 3,000 SH Calls X No. 1 X
$13.90 400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Chiron Corp. Call 1/20 Long Calls 170040109 $43.58 1,400 SH Calls X No. 2 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$93.38 3,000 SH Calls X No. 1 X
$12.45 400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Coulter Pharmaceutical,
Inc Call 7/22.5 Long Calls 222116105 $0.66 500 SH Calls X No. 2 X
$1.31 1,000 SH Calls X No. 1 X
$0.13 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Coulter Pharmaceutical,
Inc Call 7/25 Long Calls 222116105 $0.34 500 SH Calls X No. 2 X
$0.76 1,100 SH Calls X No. 1 X
$0.07 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Coulter Pharmaceutical,
Inc Call 7/30 Long Calls 222116105 $0.13 700 SH Calls X No. 2 X
$0.28 1,500 SH Calls X No. 1 X
$0.02 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Coulter Pharmaceutical,
Inc Call 7/35 Long Calls 222116105 $0.13 800 SH Calls X No. 2 X
$0.28 1,800 SH Calls X No. 1 X
$0.02 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Coulter Pharmaceutical,
Inc Call 7/40 Long Calls 222116105 $0.08 800 SH Calls X No. 2 X
$0.15 1,600 SH Calls X No. 1 X
$0.01 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Creative Biomolecules
Call 11/7.5 Long Calls 225270107 $150.40 18,800 SH Calls X No. 2 X
$322.40 40,300 SH Calls X No. 1 X
$36.80 4,600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Cygnus Inc. Call 9/15 Long Calls 232560102 $16.65 7,400 SH Calls X No. 2 X
$34.88 15,500 SH Calls X No. 1 X
$4.05 1,800 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Cygnus Inc. Call 9/12.5 Long Calls 232560102 $25.01 6,900 SH Calls X No. 2 X
$52.20 14,400 SH Calls X No. 1 X
$6.16 1,700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Cygnus, Inc. Call 9/17.5 Long Calls 232560102 $4.46 3,100 SH Calls X No. 2 X
$9.63 6,700 SH Calls X No. 1 X
$1.01 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Enzo Biochem Puts 7/35 Long Puts 294100102 $0.06 300 SH Puts X No. 2 X
$0.19 1,000 SH Puts X No. 1 X
$0.00 0 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Enzo Biochem Puts 7/55 Long Puts 294100102 $0.84 900 SH Puts X No. 2 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$2.53 2,700 SH Puts X No. 1 X
$0.00 0 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Enzo Biochem Put 7/60 Long Puts 294100102 $2.33 1,200 SH Puts X No. 2 X
$6.59 3,400 SH Puts X No. 1 X
$0.00 0 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Enzo Biochem Put 7/80 Long Puts 294100102 $7.95 600 SH Puts X No. 2 X
$18.55 1,400 SH Puts X No. 1 X
$2.65 200 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Enzo Biochem Put 7/95 Long Puts 294100102 $10.55 400 SH Puts X No. 2 X
$13.19 500 SH Puts X No. 1 X
$0.00 0 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Enzo Biochem Put 7/100 Long Puts 294100102 $15.56 500 SH Puts X No. 2 X
$31.13 1,000 SH Puts X No. 1 X
$0.00 0 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Enzo Biochem Put 7/105 Long Puts 294100102 $14.45 400 SH Puts X No. 2 X
$21.68 600 SH Puts X No. 1 X
$0.00 0 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Enzo Biochem Put 7/25 Long Puts 294100102 $0.06 400 SH Puts X No. 2 X
$0.09 600 SH Puts X No. 1 X
$0.00 0 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Enzo Biochem Put 7/30 Long Puts 294100102 $0.02 100 SH Puts X No. 2 X
$0.08 500 SH Puts X No. 1 X
$0.00 0 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Enzo Biochem Put 7/40 Long Puts 294100102 $0.03 200 SH Puts X No. 2 X
$0.02 100 SH Puts X No. 1 X
$0.00 0 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Enzo Biochem Put 7/45 Long Puts 294100102 $0.00 0 SH Puts X No. 2 X
$0.05 200 SH Puts X No. 1 X
$0.00 0 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Enzo Biochem Put 7/50 Long Puts 294100102 $0.40 800 SH Puts X No. 2 X
$0.80 1,600 SH Puts X No. 1 X
$0.00 0 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Enzo Biochem Put 7/22.5 Long Puts 294100102 $0.09 600 SH Puts X No. 2 X
$0.22 1,400 SH Puts X No. 1 X
$0.00 0 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Enzo Biochem Put 7/85 Long Puts 294100102 $10.28 600 SH Puts X No. 2 X
$27.40 1,600 SH Puts X No. 1 X
$1.71 100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Enzo Biochem Put 7/90 Long Puts 294100102 $15.14 700 SH Puts X No. 2 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$41.09 1,900 SH Puts X No. 1 X
$0.00 0 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Enzo Biochem Put 7/65 Long Puts 294100102 $1.16 300 SH Puts X No. 2 X
$3.49 900 SH Puts X No. 1 X
$0.00 0 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Enzo Biochem Put 7/70 Long Puts 294100102 $7.65 1,200 SH Puts X No. 2 X
$22.31 3,500 SH Puts X No. 1 X
$0.00 0 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon, Inc Call 8/50 Long Calls 294100102 $3.81 2,100 SH Calls X No. 2 X
$8.34 4,600 SH Calls X No. 1 X
$0.54 300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon, Inc Call 8/55 Long Calls 294100102 $4.51 3,800 SH Calls X No. 2 X
$9.62 8,100 SH Calls X No. 1 X
$0.59 500 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon, Inc Call 8/60 Long Calls 294100102 $3.17 3,900 SH Calls X No. 2 X
$6.83 8,400 SH Calls X No. 1 X
$0.41 500 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon, Inc Call 8/65 Long Calls 294100102 $2.10 4,800 SH Calls X No. 2 X
$4.59 10,500 SH Calls X No. 1 X
$0.26 600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon, Inc Call 8/70 Long Calls 294100102 $1.88 6,000 SH Calls X No. 2 X
$4.09 13,100 SH Calls X No. 1 X
$0.22 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon, Inc Call 8/75 Long Calls 294100102 $0.28 1,500 SH Calls X No. 2 X
$0.60 3,200 SH Calls X No. 1 X
$0.04 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon, Inc. Call 11/30 Long Calls 294100102 $28.03 1,900 SH Calls X No. 2 X
$64.90 4,400 SH Calls X No. 1 X
$7.38 500 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon, Inc. Call 11/35 Long Calls 294100102 $29.90 2,600 SH Calls X No. 2 X
$64.40 5,600 SH Calls X No. 1 X
$6.90 600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon Inc. Call 11/40 Long Calls 294100102 $17.60 2,200 SH Calls X No. 2 X
$37.60 4,700 SH Calls X No. 1 X
$4.80 600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon Inc. Call 11/45 Long Calls 294100102 $18.90 2,800 SH Calls X No. 2 X
$41.18 6,100 SH Calls X No. 1 X
$4.73 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon Inc. Call 11/50 Long Calls 294100102 $14.64 3,300 SH Calls X No. 2 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$31.51 7,100 SH Calls X No. 1 X
$3.55 800 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon Inc. Call 11/55 Long Calls 294100102 $13.58 4,100 SH Calls X No. 2 X
$29.48 8,900 SH Calls X No. 1 X
$3.31 1,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon Inc. Call 11/60 Long Calls 294100102 $12.00 4,800 SH Calls X No. 2 X
$25.00 10,000 SH Calls X No. 1 X
$2.75 1,100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Enzon Inc. Call 11/65 Long Calls 294100102 $11.06 5,900 SH Calls X No. 2 X
$23.25 12,400 SH Calls X No. 1 X
$2.81 1,500 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Genentech Inc Call 9/175 Long Calls 368710406 $22.14 1,100 SH Calls X No. 2 X
$46.29 2,300 SH Calls X No. 1 X
$6.04 300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Genetech Inc. Call 9/110 Long Calls 368710406 $624.00 9,600 SH Calls X No. 2 X
$1,339.00 20,600 SH Calls X No. 1 X
$149.50 2,300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Genetech Inc. Call 9/115 Long Calls 368710406 $583.20 9,600 SH Calls X No. 2 X
$1,251.45 20,600 SH Calls X No. 1 X
$139.73 2,300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Genetech Inc. Call 9/120 Long Calls 368710406 $523.20 9,600 SH Calls X No. 2 X
$1,122.70 20,600 SH Calls X No. 1 X
$125.35 2,300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Genetech Inc. Call 9/125 Long Calls 368710406 $482.40 9,600 SH Calls X No. 2 X
$1,035.15 20,600 SH Calls X No. 1 X
$115.58 2,300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Genentech Inc Call 9/180 Long Calls 368710406 $21.29 1,300 SH Calls X No. 2 X
$47.49 2,900 SH Calls X No. 1 X
$4.91 300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Genentech Inc Call 9/185 Long Calls 368710406 $23.06 1,500 SH Calls X No. 2 X
$47.66 3,100 SH Calls X No. 1 X
$6.15 400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Genentech Inc Call 9/190 Long Calls 368710406 $18.85 1,300 SH Calls X No. 2 X
$42.05 2,900 SH Calls X No. 1 X
$4.35 300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Genentech Inc Call 9/195 Long Calls 368710406 $19.80 1,600 SH Calls X No. 2 X
$40.84 3,300 SH Calls X No. 1 X
$4.95 400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Geron Corp. Put 9/17.5 Long Puts 374163103 $5.75 9,200 SH Puts X No. 2 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$12.13 19,400 SH Puts X No. 1 X
$0.88 1,400 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Geron Corp. Put 9/20 Long Puts 374163103 $11.36 10,100 SH Puts X No. 2 X
$23.96 21,300 SH Puts X No. 1 X
$1.80 1,600 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Geron Corp. Put 9/22.5 Long Puts 374163103 $9.28 5,300 SH Puts X No. 2 X
$19.60 11,200 SH Puts X No. 1 X
$1.40 800 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Geron Corp. Put 9/25 Long Puts 374163103 $11.42 4,300 SH Puts X No. 2 X
$24.17 9,100 SH Puts X No. 1 X
$1.59 600 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Geron Corp. Put 9/30 Long Puts 374163103 $15.69 3,100 SH Puts X No. 2 X
$33.41 6,600 SH Puts X No. 1 X
$2.53 500 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Geron Corp. Put 9/35 Long Puts 374163103 $43.20 5,400 SH Puts X No. 2 X
$90.40 11,300 SH Puts X No. 1 X
$6.40 800 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Geron Corp. Put 9/40 Long Puts 374163103 $23.04 1,900 SH Puts X No. 2 X
$49.71 4,100 SH Puts X No. 1 X
$3.64 300 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Geron Corp. Put 9/45 Long Puts 374163103 $73.44 4,700 SH Puts X No. 2 X
$154.69 9,900 SH Puts X No. 1 X
$10.94 700 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Geron Corp. Put 9/50 Long Puts 374163103 $24.15 1,200 SH Puts X No. 2 X
$48.30 2,400 SH Puts X No. 1 X
$4.03 200 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Giliead Sciences, Inc.
Call 11/50 Long Calls 375558103 $177.38 6,600 SH Calls X No. 2 X
$378.94 14,100 SH Calls X No. 1 X
$43.00 1,600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Giliead Sciences, Inc.
Call 11/55 Long Calls 375558103 $155.93 6,600 SH Calls X No. 2 X
$333.11 14,100 SH Calls X No. 1 X
$37.80 1,600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Giliead Sciences, Inc.
Call 11/60 Long Calls 375558103 $136.13 6,600 SH Calls X No. 2 X
$290.81 14,100 SH Calls X No. 1 X
$33.00 1,600 SH Calls X X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Glaxo Wellcome Plc-Spons
Adr calls 1/70 Long Calls 37733W105 $19.91 2,700 SH Calls X No. 2 X
$51.63 7,000 SH Calls X No. 1 X
$1.48 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Call 7/105 Long Calls 449370105 $8.25 500 SH Calls X No. 2 X
$14.85 900 SH Calls X No. 1 X
$1.65 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Call 7/110 Long Calls 449370105 $7.95 600 SH Calls X No. 2 X
$17.23 1,300 SH Calls X No. 1 X
$1.33 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Call 7/115 Long Calls 449370105 $6.38 600 SH Calls X No. 2 X
$13.81 1,300 SH Calls X No. 1 X
$1.06 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Call 7/120 Long Calls 449370105 $5.10 600 SH Calls X No. 2 X
$11.05 1,300 SH Calls X No. 1 X
$0.85 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Call 7/130 Long Calls 449370105 $2.93 600 SH Calls X No. 2 X
$6.34 1,300 SH Calls X No. 1 X
$0.49 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Call 7/135 Long Calls 449370105 $2.25 600 SH Calls X No. 2 X
$4.88 1,300 SH Calls X No. 1 X
$0.38 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Call 7/140 Long Calls 449370105 $1.43 600 SH Calls X No. 2 X
$3.09 1,300 SH Calls X No. 1 X
$0.24 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Call 7/145 Long Calls 449370105 $1.31 600 SH Calls X No. 2 X
$2.84 1,300 SH Calls X No. 1 X
$0.22 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Call 7/150 Long Calls 449370105 $1.16 600 SH Calls X No. 2 X
$2.52 1,300 SH Calls X No. 1 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$0.19 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Call 7/155 Long Calls 449370105 $1.35 900 SH Calls X No. 2 X
$2.85 1,900 SH Calls X No. 1 X
$0.30 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Call 7/160 Long Calls 449370105 $0.60 600 SH Calls X No. 2 X
$1.30 1,300 SH Calls X No. 1 X
$0.10 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Call 7/70 Long Calls 449370105 $14.33 300 SH Calls X No. 2 X
$28.65 600 SH Calls X No. 1 X
$4.78 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Call 7/75 Long Calls 449370105 $12.49 300 SH Calls X No. 2 X
$24.98 600 SH Calls X No. 1 X
$4.16 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Call 7/80 Long Calls 449370105 $11.51 300 SH Calls X No. 2 X
$23.03 600 SH Calls X No. 1 X
$3.84 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Call 7/85 Long Calls 449370105 $16.88 500 SH Calls X No. 2 X
$30.38 900 SH Calls X No. 1 X
$3.38 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Call 7/90 Long Calls 449370105 $14.50 500 SH Calls X No. 2 X
$26.10 900 SH Calls X No. 1 X
$2.90 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Call 7/95 Long Calls 449370105 $11.88 500 SH Calls X No. 2 X
$21.38 900 SH Calls X No. 1 X
$2.38 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Call 7/100 Long Calls 449370105 $9.88 500 SH Calls X No. 2 X
$17.78 900 SH Calls X No. 1 X
$1.98 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Call 7/125 Long Calls 449370105 $33.80 5,200 SH Calls X No. 2 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$75.40 11,600 SH Calls X No. 1 X
$3.25 500 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Put 7/105 Long Puts 449370105 $13.00 200 SH Puts X No. 2 X
$26.00 400 SH Puts X No. 1 X
$6.50 100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Put 7/57.5 Long Puts 449370105 $12.00 200 SH Puts X No. 2 X
$30.00 500 SH Puts X No. 1 X
$6.00 100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Put 7/62.5 Long Puts 449370105 $22.20 400 SH Puts X No. 2 X
$38.85 700 SH Puts X No. 1 X
$5.55 100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Put 7/50 Long Puts 449370105 $13.58 200 SH Puts X No. 2 X
$20.36 300 SH Puts X No. 1 X
$6.79 100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Put 7/55 Long Puts 449370105 $12.63 200 SH Puts X No. 2 X
$31.56 500 SH Puts X No. 1 X
$6.31 100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Put 7/60 Long Puts 449370105 $17.25 300 SH Puts X No. 2 X
$40.25 700 SH Puts X No. 1 X
$5.75 100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Put 7/65 Long Puts 449370105 $10.60 200 SH Puts X No. 2 X
$26.50 500 SH Puts X No. 1 X
$5.30 100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
IDEC Pharmaceuticals Corp
Put 7/100 Long Puts 449370105 $10.13 200 SH Puts X No. 2 X
$25.31 500 SH Puts X No. 1 X
$5.06 100 SH Puts X X
------------------------------------------------------------------------------------------------------------------------------------
Immunex Corp. Call
1/25.875 Long Calls 452528102 $74.55 2,800 SH Calls X No. 2 X
$159.75 6,000 SH Calls X No. 1 X
$18.64 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Immunex Corp. Call
1/28.375 Long Calls 452528102 $70.00 2,800 SH Calls X No. 2 X
$150.00 6,000 SH Calls X No. 1 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$17.50 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Immunex Corp. Call 1/30 Long Calls 452528102 $67.20 2,800 SH Calls X No. 2 X
$144.00 6,000 SH Calls X No. 1 X
$16.80 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Immunex Corp. Call
1/33.375 Long Calls 452528102 $61.25 2,800 SH Calls X No. 2 X
$131.25 6,000 SH Calls X No. 1 X
$15.31 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Immunex Corp. Call
1/36.625 Long Calls 452528102 $56.35 2,800 SH Calls X No. 2 X
$120.75 6,000 SH Calls X No. 1 X
$14.09 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Immunomedics, Inc. Call
11/20 Long Calls 452907108 $15.25 2,000 SH Calls X No. 2 X
$32.79 4,300 SH Calls X No. 1 X
$3.81 500 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Immunomedics, Inc. Call
11/22.5 Long Calls 452907108 $16.20 2,400 SH Calls X No. 2 X
$34.43 5,100 SH Calls X No. 1 X
$4.05 600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Johnson & Johnson Calls
1/75 Long Calls 478160104 $48.30 1,400 SH Calls X No. 2 X
$117.30 3,400 SH Calls X No. 1 X
$6.90 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Johnson & Johnson Calls
1/130 Long Calls 478160104 $373.80 53,400 SH Calls X No. 2 X
$826.70 118,100 SH Calls X No. 1 X
$42.70 6,100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Lilly (Eli) & Co. Call
1/105 Long Calls 532457108 $108.50 5,600 SH Calls X No. 2 X
$269.31 13,900 SH Calls X No. 1 X
$11.63 600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Lilly (eli) & Co. Calls
1/85 Long Calls 532457108 $124.70 4,300 SH Calls X No. 2 X
$307.40 10,600 SH Calls X No. 1 X
$11.60 400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Lilly & Co Calls 1/100 Long Calls 532457108 $786.25 37,000 SH Calls X No. 2 X
$1,736.13 81,700 SH Calls X No. 1 X
$85.00 4,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Lilly (eli) & Co. Calls
1/60 Long Calls 532457108 $120.71 2,900 SH Calls X No. 2 X
$291.38 7,000 SH Calls X No. 1 X
$12.49 300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
MedImmune, Inc. Call 9/110 Long Calls 584699102 $219.45 5,700 SH Calls X No. 2 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$600.60 15,600 SH Calls X No. 1 X
$57.75 1,500 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
MedImmune, Inc. Call 9/115 Long Calls 584699102 $206.63 5,700 SH Calls X No. 2 X
$565.50 15,600 SH Calls X No. 1 X
$54.38 1,500 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Medimmune Inc. Call 9/130 Long Calls 584699102 $18.90 600 SH Calls X No. 2 X
$47.25 1,500 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Medimmune Inc. Call 9/135 Long Calls 584699102 $18.00 600 SH Calls X No. 2 X
$54.00 1,800 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Medimmune Inc. Call 9/140 Long Calls 584699102 $17.10 600 SH Calls X No. 2 X
$51.30 1,800 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Medimmune Inc. Call 9/145 Long Calls 584699102 $16.05 600 SH Calls X No. 2 X
$56.18 2,100 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Medimmune Inc. Call 9/150 Long Calls 584699102 $22.05 900 SH Calls X No. 2 X
$51.45 2,100 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Medimmune Inc. Call 9/155 Long Calls 584699102 $14.55 600 SH Calls X No. 2 X
$65.48 2,700 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Medimmune Inc. Call 9/160 Long Calls 584699102 $20.36 900 SH Calls X No. 2 X
$54.30 2,400 SH Calls X No. 1 X
$6.79 300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Medimmune Inc. Call 9/165 Long Calls 584699102 $25.35 1,200 SH Calls X No. 2 X
$50.70 2,400 SH Calls X No. 1 X
$6.34 300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Medimmune Inc. Call 9/170 Long Calls 584699102 $12.00 600 SH Calls X No. 2 X
$54.00 2,700 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Millennium
Pharmaceuticals,
Inc. Call 11/55 Long Calls 599902103 $235.46 3,900 SH Calls X No. 2 X
$549.41 9,100 SH Calls X No. 1 X
$60.38 1,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Millennium
Pharmaceuticals,
Inc. Call 11/60 Long Calls 599902103 $218.16 3,900 SH Calls X No. 2 X
$509.03 9,100 SH Calls X No. 1 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$55.94 1,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Millennium
Pharmaceuticals,
Inc. Call 11/50 Long Calls 599902103 $250.58 3,900 SH Calls X No. 2 X
$584.68 9,100 SH Calls X No. 1 X
$64.25 1,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Merck & Co., Inc.
Call 1/90 Long Calls 589331107 $526.49 54,700 SH Calls X No. 2 X
$1,196.39 124,300 SH Calls X No. 1 X
$54.86 5,700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Merk & Co., Inc.
Calls 7/65 Long Calls 589331107 $55.74 4,900 SH Calls X No. 2 X
$135.36 11,900 SH Calls X No. 1 X
$4.55 400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Pe_Celeral Genomics
Call 9/75 Long Calls 693325201 $25.09 900 SH Calls X No. 2 X
$52.96 1,900 SH Calls X No. 1 X
$5.58 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Pe_Celeral Genomics
Call 9/80 Long Calls 693325201 $21.26 900 SH Calls X No. 2 X
$44.89 1,900 SH Calls X No. 1 X
$4.73 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Pe_Celeral Genomics
Call 9/85 Long Calls 693325201 $19.35 900 SH Calls X No. 2 X
$40.85 1,900 SH Calls X No. 1 X
$4.30 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Pe_Celeral Genomics
Call 9/90 Long Calls 693325201 $17.27 900 SH Calls X No. 2 X
$36.46 1,900 SH Calls X No. 1 X
$3.84 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Pe_Celeral Genomics
Call 9/95 Long Calls 693325201 $15.75 900 SH Calls X No. 2 X
$33.25 1,900 SH Calls X No. 1 X
$3.50 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Pe_Celeral Genomics
Call 9/100 Long Calls 693325201 $13.50 900 SH Calls X No. 2 X
$28.50 1,900 SH Calls X No. 1 X
$3.00 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Pe_Celeral Genomics
Call 9/97.5 Long Calls 693325201 $14.96 900 SH Calls X No. 2 X
$31.59 1,900 SH Calls X No. 1 X
$3.33 200 SH Calls X X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Pe_Celeral Genomics
Call 9/105 Long Calls 693325201 $11.70 900 SH Calls X No. 2 X
$24.70 1,900 SH Calls X No. 1 X
$2.60 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Pe BioSystems Group
Call 9/90 Long Calls 693325201 $4.33 1,100 SH Calls X No. 2 X
$9.45 2,400 SH Calls X No. 1 X
$1.18 300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Pe BioSystems Group
Call 9/95 Long Calls 693325201 $3.37 1,100 SH Calls X No. 2 X
$7.35 2,400 SH Calls X No. 1 X
$0.92 300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Pe BioSystems Group
Call 9/97.5 Long Calls 693325201 $3.03 1,100 SH Calls X No. 2 X
$6.60 2,400 SH Calls X No. 1 X
$0.83 300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Pe BioSystems Group
Call 9/92.5 Long Calls 693325201 $3.71 1,100 SH Calls X No. 2 X
$8.10 2,400 SH Calls X No. 1 X
$1.01 300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Pfizer Call 1/40 Long Calls 717081103 $319.00 22,000 SH Calls X No. 2 X
$771.40 53,200 SH Calls X No. 1 X
$34.80 2,400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Pfizer Call 1/45 Long Calls 717081103 $38.40 3,200 SH Calls X No. 2 X
$87.60 7,300 SH Calls X No. 1 X
$3.60 300 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Pfizer Call 1/50 Long Calls 717081103 $817.00 86,000 SH Calls X No. 2 X
$1,858.20 195,600 SH Calls X No. 1 X
$93.10 9,800 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Pharmacia Calls 1/60 Long Calls 717134102 $575.45 67,700 SH Calls X No. 2 X
$1,286.90 151,400 SH Calls X No. 1 X
$61.20 7,200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Pharmacia Calls 1/60 Long Calls 717134102 $19.95 5,700 SH Calls X No. 2 X
$49.70 14,200 SH Calls X No. 1 X
$2.45 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Pharmacia & Upjohn In.
Calls 1/65 Long Calls 716941109 $59.95 4,400 SH Calls X No. 2 X
$148.51 10,900 SH Calls X No. 1 X
$6.81 500 SH Calls X X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Pharmacia & Upjohn Inc.
Call 1/55 Long Calls 716941109 $427.05 21,900 SH Calls X No. 2 X
$949.65 48,700 SH Calls X No. 1 X
$40.95 2,100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs Inc,
Call 11/85 Long Calls 74369L103 $51.38 600 SH Calls X No. 2 X
$102.75 1,200 SH Calls X No. 1 X
$8.56 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs Inc,
Call 11/90 Long Calls 74369L103 $48.75 600 SH Calls X No. 2 X
$121.88 1,500 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs Inc,
Call 11/95 Long Calls 74369L103 $46.88 600 SH Calls X No. 2 X
$125.00 1,600 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs Inc,
Call 11/100 Long Calls 74369L103 $52.24 700 SH Calls X No. 2 X
$134.33 1,800 SH Calls X No. 1 X
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs, Inc.
Call 11/65 Long Calls 74369L103 $245.70 2,400 SH Calls X No. 2 X
$542.59 5,300 SH Calls X No. 1 X
$61.43 600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs, Inc.
Call 11/70 Long Calls 74369L103 $235.20 2,400 SH Calls X No. 2 X
$519.40 5,300 SH Calls X No. 1 X
$58.80 600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs, Inc.
Call 11/75 Long Calls 74369L103 $225.00 2,400 SH Calls X No. 2 X
$496.88 5,300 SH Calls X No. 1 X
$56.25 600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs, Inc.
Call 11/80 Long Calls 74369L103 $215.10 2,400 SH Calls X No. 2 X
$475.01 5,300 SH Calls X No. 1 X
$53.78 600 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Protein Design Labs Inc,
Call 11/105 Long Calls 74369L103 $56.70 800 SH Calls X No. 2 X
$134.66 1,900 SH Calls X No. 1 X
</TABLE>
<PAGE>
-----------------------
Paramount Capital Asset
Management, Inc.
Form 13F
At 6/30/2000
-----------------------
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8
------------------------------------------------------------------------------------------------------------------------------------
Fair Market Shares or Voting Authority
CUSIP Value Principal SH/ Put/ Investment Other ----------------
Name of Issuer Title or Class Number (x $1000) Amount PRN Call Discretion Managers Sole Shared None
-------------- -------------- ------ --------- ------ --- ---- ---------- -------- ---- ------ ----
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$0.00 0 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
QLT Phototherapeutics Inc.
Call 9/55 Long Calls 746927102 $68.95 2,800 SH Calls X No. 2 X
$152.68 6,200 SH Calls X No. 1 X
$17.24 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
QLT Phototherapeutics Inc.
Call 9/60 Long Calls 746927102 $59.50 2,800 SH Calls X No. 2 X
$131.75 6,200 SH Calls X No. 1 X
$14.88 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
QLT Phototherapeutics Inc.
Call 9/65 Long Calls 746927102 $50.40 2,800 SH Calls X No. 2 X
$111.60 6,200 SH Calls X No. 1 X
$12.60 700 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Schering Plough Corp
Call 1/55 Long Calls 806605101 $765.03 86,200 SH Calls X No. 2 X
$1,705.78 192,200 SH Calls X No. 1 X
$110.05 12,400 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Smithkline Beecham
Call 1/80 Long Calls 832378301 $67.43 8,700 SH Calls X No. 2 X
$160.43 20,700 SH Calls X No. 1 X
$6.98 900 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Warner Lambert Co.
Call 1/95 Long Calls 717081103 $141.40 2,800 SH Calls X No. 2 X
$353.50 7,000 SH Calls X No. 1 X
$10.10 200 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Warner-Lambert Co.
Calls 1/100 Long Calls 717081103 $691.90 14,800 SH Calls X No. 2 X
$1,421.20 30,400 SH Calls X No. 1 X
$140.25 3,000 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
Warner-Lambert Co.
Calls 1/100 Long Calls 717081103 $48.26 1,300 SH Calls X No. 2 X
$122.51 3,300 SH Calls X No. 1 X
$3.71 100 SH Calls X X
------------------------------------------------------------------------------------------------------------------------------------
-----------
$894,036.67
===========
</TABLE>
