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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)*
TRIANGLE PHARMACEUTICALS, INC.
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(Name of Issuer)
COmmon Stock, $.001 par value per share
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(Title of Class of Securities)
89589H 10 4
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(CUSIP Number)
R.S.M. Baird Robin A. Painter
The Wellcome Trust Limited as Testa, Hurwitz & Thibeault, LLP
Trustee for The Wellcome Trust 125 High Street
210 Euston Road Boston, MA 02110
London NWI 2BE (617) 248-7000
ENGLAND
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
December 30, 1998
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box / /.
NOTE: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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SCHEDULE 13D
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CUSIP NO. 89589H 10 4 PAGE 2 OF 4 PAGES
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1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
The Wellcome Trust Limited as Trustee for The Wellcome Trust
98 6038021
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)*
(a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (SEE INSTRUCTIONS)*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
England
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7 SOLE VOTING POWER
1,300,000
NUMBER OF ------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY ------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,300,000
WITH ------------------------------------------------------
10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,300,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.5%
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14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)*
OO
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SCHEDULE 13D
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CUSIP NO. 89589H 10 4 PAGE 3 OF 4 PAGES
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This Amendment No. 1 to Schedule 13D amends the Schedule 13D
initially filed on November 12, 1996 (as so amended, the "Schedule
13D") and reports the decrease in the percentage of beneficial
ownership of Common Stock, par value $0.001 per share (the "Common
Stock"), of Triangle Pharmaceuticals, Inc., a Delaware corporation
(the "Issuer"), held by The Wellcome Trust Limited, as trustee for
The Wellcome Trust (the "Trust").
Only those items amended are reported herein.
Item 5. INTEREST IN SECURITIES OF THE ISSUER:
(a) On November 1, 1996, the aggregate number of shares of Common
Stock of the Issuer beneficially owned by the Trust was 1,300,000,
representing 7.5% of the issued and outstanding shares of the
Issuer's common stock. Based on Form 424B3 filed with the Securities
and Exchange Commission on December 31, 1998 by the issuer, this
number currently represents 4.5% of the outstanding shares of the
Issuer's Common Stock.
(d) Not applicable.
(e) The Trust ceased to be the beneficial owner of more than 5% of
the Issuer's Common Stock on December 30, 1998.
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SCHEDULE 13D
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CUSIP NO. 89589H 10 4 PAGE 4 OF 4 PAGES
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
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Date
/s/ Robert Baird
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Signature
RSM Baird
Investment Manager
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Name/Title
