FORM 3 U.S. SECURITIES AND EXCHANGE
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935
or Section 20(f) of the Investment Company Act of 1949
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1. Name and Address of Reporting Person
Kanzer, Steve H., C.P.A., Esq.
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(Last) (First) (Middle)
787 Seventh Avenue, 48th Floor
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(Street)
New York NY 10019
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(City) (State) (Zip Code)
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2. Date of Event 4. Issuer Name and Ticker or Trading Symbol
Requiring Statement
(Month/Day/Year) Discovery Laboratories, Inc. ("Discovery")
11/25/97 DSCO
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5. Relationship of Reporting Person to Issuer
3. IRS or Social (Check all applicable)
Security Number of
Reporting Person |X| Director |_| 10% Owner
(Voluntary) |_| Officer (give title |_| Other (specify
below)
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6. If Amendment, Date of
Original (Month/Day/Year)
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Table I - Non- Derivative Securities Beneficially Owned
<TABLE>
<CAPTION>
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1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect Beneficial
(Instr. 4) Beneficially Owned Direct (D) or Indirect (I) Ownership (Instr. 5)
(Instr. 4) (Instr. 5)
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<S> <C> <C> <C>
Common Stock 166,072 (1) D
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
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<PAGE>
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls,
warrants, options, convertible securities)
<TABLE>
<CAPTION>
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1. Title of Derivative Security 2. Date Exercisable and 3. Title and Amount of 4. Conversion or 5. Ownership form of
(Instr. 4) Expiration Date (Month/Day/ Securities Underlying Exercise Price of Derivative Security:
Year) Derivative Security Derivative Direct (D) or Indirect
(Instr. 4) Security (I) (Instr. 5)
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Date Expiration Title Amount or
Exercisable Date Number of
Shares
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<S> <C> <C> <C> <C> <C> <C>
Non-Statutory Stock Options 1/1/97 (2) 1/1/2007 Common Stock 15,566 $.60 D
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</TABLE>
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1. Title of Derivative Security 6. Nature of Indirect Beneficial
(Instr. 4) Ownership (Instr. 5)
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Non-Statutory Stock Options
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Explanation of Responses:
(1) This number does not include an additional 35,413 shares of Discovery common
stock owned by certain family members of Mr. Kanzer as to which Mr. Kanzer
disclaims beneficial ownership.
(2) This option is exercisable as to 3,891 of the option shares on January 1,
1997. The remaining 11,675 shares of the option are exercisable at a rate of
1/36 per month over a three year period commencing on January 31, 1997. The
option expires on January 1, 2007.
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/ Steve H. Kanzer December 5, 1997
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** Signature of Reporting Person
Note: File three copies of this Form, one of which must be manually signed. If
space provided is insufficient, See Instruction 6 for procedure.
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