FORM 4
1. Name and Address of Reporting Person
(a) Ross Financial Corporation
P.O. Box 31363-SMB
Cayman Islands, BWI
(b) Dart, Kenneth B.
P.O. Box 31363-SMB
Cayman Islands, BWI
2. Issuer Name and Ticker or Trading Symbol
The Liposome Company, Inc
LIPO
CUSIP# 536310105
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
July 1997
5. If Amendment, Date of Original (Month/Year)
Amendment; Original was filed on or about May 15, 1997.
6. Relationship of Reporting Person(s) to Issuer (Check all
applicable)
10% Owner
7. Individual or Joint/Group Filing
Form filed by More than One Reporting Person
TABLE I - Non-Derivative Securities Acquired, Disposed of, or
Beneficially Owned
1. Title of Security
Class A Common Stock
2-4.
Transaction Date Transaction Securities Acquired (A)
(Month/Day/Year) Code Amount Price (per share)
7/15/97 P 15,000 7.9375
7/15/97 P 20,000 8.0000
7/15/97 P 15,000 8.1250
7/15/97 P 65,000 7.9375
7/15/97 P 25,000 8.1875
7/16/97 P 120,000 8.1250
7/16/97 P 30,000 8.1875
7/16/97 P 70,000 8.2500
7/17/97 P 50,000 8.0625
7/17/97 P 100,000 8.2500
7/18/97 P 65,000 8.2500
7/21/97 P 50,000 8.2500
7/21/97 P 35,000 8.1875
7/22/97 P 25,000 7.9375
7/22/97 P 175,000 7.8750
7/22/97 P 65,000 8.0000
7/22/97 P 10,000 8.0625
7/23/97 P 50,000 7.9375
7/23/97 P 150,000 8.0000
7/23/97 P 165,000 7.8750
7/24/97 P 60,000 8.0000
7/25/97 P 70,000 8.1250
7/28/97 P 25,000 8.0000
7/28/97 P 50,000 8.1700
7/29/97 P 50,000 8.0000
7/29/97 P 50,000 8.0625
7/30/97 P 50,000 7.6250
7/30/97 P 75,000 7.8750
7/30/97 P 50,000 7.7500
7/31/97 P 59,000 7.1250
All securities were Acquired.
5. Amount of Securities Beneficially Owned at End of Month
9,353,346
6. Ownership Form: Direct or Indirect
9,353,346 Direct Ross Financial Corporation
9,353,346 Indirect Kenneth B. Dart
7. Nature of Indirect Beneficial Ownership
By Ross Financial Corporation
TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
NONE.
Explanation of Responses:
Kenneth B. Dart is the 100% shareholder of Ross Financial
Corporation. Ross Financial Corporation owns all of the
securities directly.
Ross Financial Corporation
By: Kenneth B. Dart, Its President
Dated: August 5, 1997
Kenneth B. Dart
Dated: August 5, 1997
