<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
--------------------------
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(AMENDMENT NO. 1)
NeoRx Corporation
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(Name of Issuer)
COMMON STOCK, par value $0.02
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(Title of Class of Securities)
640520300
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CUSIP Number
Bay City Capital Management LLC
750 Battery Street, Suite 600
San Francisco California 94111
(415) 837-0996
with a copy to:
Brett R. Dick, Esq.
Heller Ehrman White & McAuliffe
333 Bush Street
San Francisco, California 94104
(415) 772-6394
- -----------------------------------------------------------------------------
(Name, address and telephone number
of person authorized to receive notices and communications)
JANUARY 12, 1999
(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 that is the subject of this Schedule 13D, and is filing this
statement because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box: / /
(Continued on following pages)
(Page 1 of 10 Pages)
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CUSIP NO. 640520300 13D Page 2 of 10 Pages
AMENDMENT NO. 1
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1) NAMES OF REPORTING PERSONS The Bay City Capital Fund I, L.P.
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /x/
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3) SEC USE ONLY
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4) SOURCE OF FUNDS WC
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5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) / /
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6) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
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NUMBER OF 7) SOLE VOTING POWER -0-
SHARES
BENEFICIALLY -----------------------------------------------------------
OWNED 8) SHARED VOTING POWER 1,240,200
BY
EACH -----------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER -0-
PERSON
WITH -----------------------------------------------------------
10) SHARED DISPOSITIVE POWER 1,240,200
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11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,240,200
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12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES / /
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13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.90%
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14) TYPE OF REPORTING PERSON PN
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<PAGE>
CUSIP NO. 640520300 13D Page 3 of 10 Pages
AMENDMENT NO. 1
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1) NAMES OF REPORTING PERSONS Bay City Capital Management LLC
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3) SEC USE ONLY
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4) SOURCE OF FUNDS OO
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5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7) SOLE VOTING POWER -0-
SHARES
BENEFICIALLY -----------------------------------------------------------------
OWNED 8) SHARED VOTING POWER 1,240,200
BY
EACH -----------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER -0-
PERSON
WITH -----------------------------------------------------------------
10) SHARED DISPOSITIVE POWER 1,240,200
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,240,200
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES / /
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.90%
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON OO
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<PAGE>
CUSIP NO. 640520300 13D Page 4 of 10 Pages
AMENDMENT NO. 1
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1) NAMES OF REPORTING PERSONS Bay City Capital LLC
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS OO
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7) SOLE VOTING POWER -0-
SHARES
BENEFICIALLY -----------------------------------------------------------------
OWNED 8) SHARED VOTING POWER 1,240,200
BY
EACH -----------------------------------------------------------------
REPORTING 9) SOLE DISPOSITIVE POWER -0-
PERSON
WITH -----------------------------------------------------------------
10) SHARED DISPOSITIVE POWER 1,240,200
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,240,200
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES / /
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.90%
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON OO
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<PAGE>
CUSIP NO. 640520300 13D Page 5 of 10 Pages
AMENDMENT NO. 1
INTRODUCTION
Bay City Capital Management LLC, a Delaware limited liability company
("Management"), hereby files this Amendment No. 1 (the "Amendment") to the
Statement on Schedule 13D (the "Statement") on behalf of the Reporting Persons
identified in Item 2 of the Statement pursuant to the Agreement With Respect To
Schedule 13D attached to the Statement as Exhibit 7(1). Defined terms not
otherwise defined herein have the meanings ascribed thereto in the Statement.
Only those Items amended are reported herein.
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 3 is amended by adding the following paragraph:
In a series of open market transactions on NASDAQ occurring from and
including December 28, 1998 to and including January 15, 1999, the Fund acquired
an aggregate of 230,200 additional shares of Common Stock of the Issuer. The
total funds required to complete these purchases were $321,335.40 (excluding
broker commissions). All funds used by the Fund to complete these purchases
were obtained from capital contributions made by its partners pursuant to
pre-existing capital commitments. All purchases were paid for in cash. A table
identifying each such purchase is included in Item 5(c) of this Amendment.
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is amended and restated to read as follows:
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CUSIP NO. 640520300 13D Page 6 of 10 Pages
AMENDMENT NO. 1
(a) and (b) The aggregate number of shares and percentage of Common Stock
of the Issuer (based upon the Issuer's report on Form 10-Q for the quarter
ending September 30, 1998, stating that the Issuer had 21,006,964 shares of
Common Stock outstanding as of October 9, 1998) beneficially owned by each
person named in Item 2, as well as the number of shares of Common Stock as to
which such person is deemed to have sole power to vote or to direct the vote,
shared power to vote or to direct the vote, sole power to dispose or to direct
the disposition, or shared power to dispose or direct the disposition, is set
forth in the following table:
<TABLE>
<CAPTION>
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- -------------------------------------------------------------------------------------------------------------------
Reporting Person No. of Percentage Power to Vote Power to Dispose
Shares of Class Shared Sole Shared Sole
Beneficially
Owned
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<S> <C> <C> <C> <C> <C> <C>
Fund 1,240,200 5.90% 1,240,200 -0- 1,240,200 -0-
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Management 1,240,200 5.90% 1,240,200 -0- 1,240,200 -0-
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Bay City LLC 1,240,200 5.90% 1,240,200 -0- 1,240,200 -0-
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</TABLE>
Each of the Fund, Management and Bay City LLC share power to vote and to
dispose of the 1,240,200 Shares beneficially owned by them with each other.
The Reporting Persons have been advised that: (a) trusts primarily for the
benefit of the lineal descendants of Nicholas J. Pritzker, deceased (the "RA
Trusts") own indirect interests in each of the Fund, Management and Bay City
LLC; (b) as of January 12, 1999, other trusts primarily for the benefit of the
lineal descendants of Nicholas J. Pritzker, deceased (the "Oregon Trusts") also
owned indirectly 382,300 shares of Common Stock of the Issuer; (c) Thomas J.
Pritzker, one of six managers of each of Management and Bay City LLC, serves as
co-trustee of substantially all of the RA Trusts and the Oregon Trusts; (d) the
RA Trusts have no express or
<PAGE>
CUSIP NO. 640520300 13D Page 7 of 10 Pages
AMENDMENT NO. 1
implied agreement with the Oregon Trusts or any of the Reporting Persons to act
together for the purpose of acquiring, holding, voting or disposing of the
Common Stock or any other equity securities of the Issuer; and (e) the RA Trusts
expressly disclaim (i) the existence of any group with the Oregon Trusts or any
of the Reporting Persons and (ii) beneficial ownership of the shares of Common
Stock currently or hereafter owned by the Oregon Trusts or any of the Reporting
Persons.
In addition, the Reporting Persons have been advised that: (a) Gerald L.
Cohn, one of six managers of each of Management and Bay City LLC, is also the
indirect owner of interests in each of the Fund, Management and Bay City LLC;
(b) Mr. Cohn serves as one of six directors of the Hannah S. and Samuel A. Cohn
Memorial Foundation, a charitable foundation (the "Foundation"); (c) as of
January 12, 1999, the Foundation owned 6,000 shares of Common Stock of the
Issuer; (d) Mr. Cohn has no express or implied agreement with the Foundation or
any of the Reporting Persons to act together for the purpose of acquiring,
holding, voting or disposing of the Common Stock or any other equity securities
of the Issuer; and (e) Mr. Cohn expressly disclaims (i) the existence of any
group with the Foundation or any of the Reporting Persons and (ii) beneficial
ownership of the shares of Common Stock currently or hereafter owned by the
Foundation or any of the Reporting Persons.
In addition, the Reporting Persons note that: (a) Frederick B. Craves,
the Chairman and one of six managers of Management and the Managing Director
of Bay City LLC, is also the Chairman of the Board of Directors of the
Issuer; (b) as of January 12, 1999, Mr. Craves, individually, holds options
to acquire 230,000 shares of Common Stock of the Issuer and may, in the
future, individually acquire additional options and/or shares of Common
Stock; (c) except
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CUSIP NO. 640520300 13D Page 8 of 10 Pages
AMENDMENT NO. 1
for those capacities noted in (a) above, Mr. Craves has no express or implied
agreement with any of the Reporting Persons to act together for the purpose of
acquiring, holding, voting or disposing of the Common Stock or any other equity
securities of the Issuer; and (d) except for those capacities noted in (a)
above, the Reporting Persons expressly disclaim (i) the existence of any group
with Mr. Craves and (ii) beneficial ownership of the Issuer's equity securities
currently or hereafter owned by Mr. Craves.
(c) To the best knowledge of the Reporting Persons, no person
described in paragraph (a) of this Item 5 has effected any transaction in the
Common Stock of the Issuer during the past 60 days other than as set forth in
the table below:
<TABLE>
<CAPTION>
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Date Purchaser # Shares Price Total Funds
Required
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<S> <C> <C> <C> <C>
12/28/98 Fund 43,500 $1.3190 $57,376.50
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12/29/98 Fund 55,000 $1.3281 $73,045.50
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12/31/98 Fund 44,200 $1.3890 $61,393.80
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1/7/99 Fund 16,500 $1.4840 $24,486.00
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1/8/99 Fund 33,000 $1.4844 $48,985.20
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1/11/99 Fund 4,200 $1.4688 $6,168.96
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1/12/99 Fund 15,000 $1.4688 $22,032.00
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1/13/99 Fund 3,800 $1.4688 $5,581.44
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1/14/99 Fund 7,500 $1.4688 $11,016.00
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1/15/99 Fund 7,500 $1.5000 $11,250.00
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TOTAL 230,200 $321,335.40
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</TABLE>
(d) To the best knowledge of the Reporting Persons, no persons other than
the Reporting Persons have the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of, the Common Stock of
the Issuer held by the Reporting Persons.
<PAGE>
CUSIP NO. 640520300 13D Page 9 of 10 Pages
AMENDMENT NO. 1
(e) Not applicable.
[THE NEXT PAGE IS THE SIGNATURE PAGE]
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CUSIP NO. 640520300 13D Page 10 of 10 Pages
AMENDMENT NO. 1
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: January 21, 1999
BAY CITY CAPITAL MANAGEMENT LLC
By: /s/ Frederick B. Craves
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Its: MANAGER
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