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| FORM 4 | U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+ WASHINGTON, D.C. 20549
[_] Check this box if
no longer subject STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
to Section 16.
Form 4 or Form 5 Filed pursuant to Section 16(a) of the Securities
obligations may Exchange Act of 1934, Section 17(a) of the
continue. See Public Utility Holding Company Act of 1935 or
Instruction 1(b). Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
- --------------------------------------------------------------------------------
1. Name and Address of Reporting Person*
Knott, David M.
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(Last) (First) (Middle)
485 Underhill Blvd., Suite 205
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(Street)
Syosset, NY 11791
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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol Columbia Laboratories, Inc. (COB)
-----------------------------------
3. I.R.S. Identification Number of Reporting Person, if an entity
(voluntary) ###-##-####
--------------
4. Statement for Month/Year March, 2000
---------------------------------------------------
5. If Amendment, Date of Original (Month/Year)
---------------------------------
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
___ Director ___ Officer ___ 10% Owner X Other
(give title below) --- (specify below)
Member of a group
described on Page 2
7. Individual or Joint/Group Filing (Check Applicable Line)
____ Form filed by One Reporting Person
X Form filed by More than One Reporting Person
----
Table I--Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
of action action or Disposed of (D) Securities ship of In-
Security Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 3) (Month/ (Instr. 8) Owned at Direct Bene-
Day/ ----------------------------------------------- End of (D) or ficial
Year) Month Indirect Owner-
Code V Amount (A) or Price (Instr. 3 and 4) (I) ship
(D) (Instr. 4) (Instr. 4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 3/2/00 S 4,000 D $14.49 I (1)(3)
Common Stock 3/2/00 S 21,000 D $14.49 D(2) (2)(3)
Common Stock 3/3/00 S 600 D $15.47 I (1)(3)
Common Stock 3/3/00 S 3,000 D $15.47 D(2) (2)(3)
Common Stock 3/6/00 S 3,000 D $15.43 I (1)(3)
Common Stock 3/6/00 S 22,000 D $15.43 D(2) (2)(3)
Common Stock 3/8/00 S 3,000 D $16.31 I (1)(3)
Common Stock 3/8/00 S 22,000 D $16.31 D(2) (2)(3)
Common Stock 748,800(4)
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Page 1 of 3 pages
SEC 1473 (7-96)Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
(Print or Type Responses) SEC 1474 (8/92)
</TABLE>
<PAGE>
FORM 4 (continued)
Table II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv-
Security (Instr. 3) sion or action tion Code ative Securities
Exercise Date (Instr. 8) Acquired (A) or
Price of (Month/ Disposed of (D)
Deriv- Day/ (Instr. 3, 4, and 5)
ative Year)
Security
---------------------------------------------------
Code V (A) (D)
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<S> <C> <C> <C> <C> <C> <C>
- -----------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------
</TABLE>
Table II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
6. Date Exer- 7. Title and Amount of 8. Price 9. Number 10. Owner- 11. Na-
cisable and Underlying Securities of of Deriv- ship ture
Expiration (Instr. 3 and 4) Deriv- ative Form of In-
Date ative Secur- of De- direct
(Month/Day/ Secur- ities rivative Bene-
Year) ity Bene- Securities ficial
(Instr. ficially Bene- Owner-
-------------------------------------------- 5) Owned ficially ship
Date Expira- Amount or at End Owned at (Instr.
Exer- tion Title Number of of End of 4)
cisable Date Shares Month Month(1)
(Instr. 4) (Instr. 4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Explanation of Responses:
David M. Knott, Knott Partners, L.P., Dorset Management Corporation,and
Matterhorn Offshore Fund Limited (the "Reporting Persons") may be deemed to be
members of a "group" for purposes of Section 13(d) of the Exchange Act. Each of
the Reporting Persons disclaims beneficial ownership of the securities
beneficially owned by any other Reporting Person. The "group" may also include
other persons identified in a Schedule 13D filed by Mr. Knott on July 16, 1998,
and amended on October 13, 1998, November 23, 1998, December 18, 1998, January
20, 1999 and February 8, 1999, whose transactions are not being reported herein.
Such other persons' beneficial ownership, when combined with Mr. Knott's
beneficial ownership, may exceed 10% of the Issuer's outstanding common stock.
The Reporting Persons disclaim beneficial ownership of the securities
beneficially owned by such other persons whose transactions are not being
reported herein.
(1) These securities may be beneficially owned by Dorset Management Corporation.
Pursuant to Rule 13d-3 under the Exchange Act, Dorset Management Corporation may
be a beneficial owner of the shares directly owned by its clients for whom it
exercises discretionary trading authority.
(2) These securities are directly owned by Knott Partners, L.P.
(3) These securities may be beneficially owned by Mr. Knott. Pursuant to Rule
13d-3 under the Exchange Act, Mr. Knott may be a beneficial owner of all of the
securities beneficially owned by Dorset Management Corporation and Knott
Partners, L.P., as those companies' sole shareholder/director and sole general
partner, respectively.
(4) Amount shown does not include shares of common stock underlying derivative
securities. Of the 748,800 shares which may be beneficially owned by Mr. Knott
pursuant to Rule 13d-3 at the end of the month reported herein, Matterhorn
Offshore Fund Limited beneficially owns 96,100 of such shares; Dorset Management
Corporation may be deemed to beneficially own 390,000 of such shares; and Knott
Partners, L.P. beneficially owns 342,000 of such shares.
/s/ DAVID M. KNOTT April 7, 2000
------------------------------- -----------------
**Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If this form is filed by more than one reporting person, see
Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
<PAGE>
Joint Filer Information
-----------------------
Name: Knott Partners, L.P.
Address: 485 Underhill Blvd., Suite 205
Syosset, New York 11791
Designated Filer: David M. Knott
Issuer Ticker Symbol: Columbia Laboratories, Inc. (COB)
Statement for Month/Year: March, 2000
Signature: KNOTT PARTNERS, L.P.
By: /s/ DAVID M. KNOTT
-------------------------------------------
David M. Knott, General Partner
Name: Dorset Management Corporation
Address: 485 Underhill Blvd., Suite 205
Syosset, New York 11791
Designated Filer: David M. Knott
Issuer Ticker Symbol: Columbia Laboratories, Inc. (COB)
Statement for Month/Year: March, 2000
Signature: DORSET MANAGEMENT CORPORATION
By: /s/ DAVID M. KNOTT
---------------------------------------------
David M. Knott, President
Name: Matterhorn Offshore Fund Limited
Address: c/o Citco Fund Service (Curacao) N.V.
Kaya Flamboyan 9
P.O. Box 707
Curacao, Netherland Antilles
Designated Filer: David M. Knott
Issuer Ticker Symbol: Columbia Laboratories, Inc. (COB)
Statement for Month/Year: March, 2000
Signature: MATTERHORN OFFSHORE FUND LIMITED
By: INTER CARRIBEAN SERVICES, LTD.
As Sole Director
By:/s/ANNEMIEKA VAN DEN OEVER/SAMANTHA WATTS
-----------------------------------------
Annemieke van den Oever/Samantha Watts
