UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): April 6, 1998
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PHARMAKINETICS LABORATORIES, INC.
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(Exact Name of Registrant as Specified in its Charter)
Maryland 000-11580 52-1067519
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(State of Incorporation) (Commission File Number) (I.R.S. Employer
Identification No.)
302 West Fayette Street
Baltimore, Maryland 21201
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(Address of Principal Executive Offices)
(Zip Code)
Registrant's Telephone Number, Including Area Code: (410) 385-4500
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ITEM 5. OTHER EVENTS
As a result of a stockholder vote approving a five-to-one reverse
split of the Company's common stock, effective on the close of business
on Friday, April 17, 1998, the Company's authorized shares of Common
Stock will be 10 million and the total number of shares of Common Stock
outstanding will be approximately 2.4 million. The Common Stock begins
trading on a post-split basis on Monday, April 20, 1998, initially
under the symbol "PKLBD" on the OTCBB.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of Businesses Acquired.
Not Applicable.
(b) Pro Forma Financial Information.
Not Applicable.
(c) Exhibits.
99.1 Press Release dated April 20, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
PHARMAKINETICS LABORATORIES, INC.
Date: April 20, 1998 By: /s/ James K. Leslie
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James K. Leslie
President and
Chief Executive Officer
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EXHIBIT 99.1 PRESS RELEASE
Contact: James K. Leslie
President and
Chief Executive Officer
Taryn L. Kunkel
Vice President and
Chief Financial Officer
(410) 385-4500
FOR IMMEDIATE RELEASE
PHARMAKINETICS LABORATORIES, INC.
ANNOUNCES REVERSE STOCK SPLIT
Baltimore, Maryland, April 20, 1998 -- PharmaKinetics Laboratories,
Inc. (OTCBB:PKLB) today announced that as a result of the previously
announced stockholder vote approving a five-to-one reverse split of the
Company's common stock, effective on the close of business on Friday,
April 17, 1998, the Company's authorized shares of Common Stock will be
10 million and the total number of shares of Common Stock outstanding
will be approximately 2.4 million. The Common Stock will begin trading
on a post-split basis on Monday, April 20, 1998, initially under
the symbol "PKLBD" on the OTCBB.
The company's transfer agent, the American Stock Transfer & Trust
Company, will mail stockholders of record as of April 17, 1998
instructions regarding the exchange of their stock certificates for
certificates evidencing the post-split shares.
PharmaKinetics Laboratories, Inc. is a contract research organization
serving the pharmaceutical and biotechnology industries.
This press release contains forward-looking statements that involve a
number of risks and uncertainties. Actual results may differ
materially as a result of risks faced by the Company. These risks
include, but are not limited to, general economic conditions,
conditions affecting the pharmaceutical industry in general and the
generic drug industry in particular, consolidation resulting in
increased competition within the Company's market, the effect of the
proposed reverse split and other market conditions on the market price
of the Company's stock, the ability of the Company to have its stock
listed on the Nasdaq SmallCap Market and other risks referred to in the
Company's periodic reports filed with the Securities and Exchange
Commission.
