<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
(RULE 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)
(AMENDMENT NO. 1)(1)
CIMA LABS INC.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
171796 10 5
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(CUSIP Number)
Hope Flack
BVF Partners L.P.
227 West Monroe Street, Suite 4800
Chicago, Illinois 60606
(312) 263-7777
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 1, 1999
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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.
(Continued on following pages)
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(1) 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 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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CUSIP NO. 171796 10 5 13 D Page 2 of 7 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
BIOTECHNOLOGY VALUE FUND, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /X/ (b) / /
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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 ITEMS 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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7 SOLE VOTING POWER
-0-
NUMBER OF ------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 358,040
OWNED BY ------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON WITH ------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
358,040
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
358,040
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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)
3.7%
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14 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 171796 10 5 13 D Page 3 of 7 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
BVF PARTNERS L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /X/ (b) / /
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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 ITEMS 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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7 SOLE VOTING POWER
-0-
NUMBER OF ------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 678,600
OWNED BY ------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON WITH ------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
678,600
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
678,600
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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)
7.1%
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14 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 171796 10 5 13 D Page 4 of 7 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
BVF INC.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /X/ (b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC, OO
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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
DELAWARE
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7 SOLE VOTING POWER
-0-
NUMBER OF ------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 678,600
OWNED BY ------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON WITH ------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
678,600
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
678,600
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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)
7.1%
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14 TYPE OF REPORTING PERSON*
IA, CO
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 171796 10 5 13 D Page 5 of 7 Pages
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Amendment No. 1 (the "Amendment") to the Statement on Schedule 13D, dated
September 8, 1998 (as so amended, the "Statement"), filed with the Securities
and Exchange Commission on behalf of Biotechnology Value Fund, L.P., a Delaware
limited partnership ("BVF"), BVF Partners L.P., a Delaware limited partnership
("Partners"), and BVF Inc., a Delaware corporation ("BVF Inc." and, together
with BVF and Partners, the "Reporting Persons") with respect to the Common Stock
(the "Stock") of Cima Labs Inc., a Delaware corporation, ("Cima").
Item 3 is hereby amended to read in its entirety as follows:
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Since December 31, 1998, Partners, in its capacity as general partner of
BVF, has purchased on behalf of such limited partnership an aggregate number of
28,640 shares of the Stock for an aggregate consideration of $78,760, utilizing
funds provided by BVF from its working capital pursuant to the terms of its
limited partnership agreement with Partners, and has sold on behalf of such
limited partnership an aggregate number of 57,300 shares of the Stock for an
aggregate consideration of $180,074.34. In addition, Partners, in its capacity
as investment manager with respect to certain Accounts, has purchased on behalf
of such Accounts an aggregate number of 24,160 shares of the Stock for an
aggregate consideration of $66,440, utilizing funds under management by Partners
pursuant to investment management agreements between Partners and such Accounts,
and has sold on behalf of such Accounts an aggregate number of 105,800 shares of
the Stock for an aggregate consideration of $309,446.32. The Accounts on whose
behalf Partners owns shares of the Stock are Investment 10 L.L.C., an Illinois
limited liability company ("ILL10"), Palamundo, L.D.C., a limited duration
company organized under the laws of the Cayman Islands ("Palamundo"), ZPG
Securities, L.L.C., a New York limited liability company ("ZPG") and
Biotechnology Value Fund, Ltd., a Cayman Islands Corporation ("BVF Ltd.").
ILL10, Palamundo, ZPG and BVF Ltd. are collectively referred to herein as the
"Accounts." The Accounts specialize in holding biotechnology stocks for
investment purposes and the business address of each is BVF Partners L.P., 227
West Monroe Drive, Suite 4800, Chicago, Illinois 60606.
Item 5 is hereby amended to read in its entirety as follows:
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) BVF beneficially owns 358,040 shares of the Stock, Partners
beneficially owns 678,600 shares of the Stock, and BVF Inc. beneficially owns
678,600 shares of the Stock, approximately 3.7%, 7.1% and 7.1%, respectively, of
the aggregate number of shares outstanding as of October 30, 1998 (as reported
in Cima's most recent quarterly statement on Form 10-Q).
(b) BVF shares voting and dispositive power over the 358,040 shares of
the Stock it beneficially owns with Partners. Partners and BVF Inc. share
voting and dispositive power over
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CUSIP NO. 171796 10 5 13 D Page 6 of 7 Pages
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the 678,600 shares of the Stock they beneficially own with, in addition to BVF,
the Accounts on whose behalf Partners, as investment manager, purchased such
shares.
(c) Exhibit B attached hereto contains information as to all transactions
in the Stock by the Reporting Persons during the last 60 days. All such
transactions were made for cash in open market, over-the-counter transactions.
Except as provided below, no other transactions in the Stock have been effected
by the Reporting Persons during the last 60 days. On January 26, 1999, Partners
transferred 11,160 shares of Stock that it owned on behalf of Palamundo to BVF
Ltd. and transferred 13,640 shares of Stock that it owned on behalf of Palamundo
to BVF, L.P. Additionally, on February 11, 1999, Partners transferred 13,000
shares of Stock that it owned on behalf of ILL10 to BVF Ltd. and transferred
15,000 shares of Stock that it owned on behalf of ILL10 to BVF, L.P. The
aggregate number of shares of the Stock beneficially owned by Partners and BVF
Inc. was not affected by these transfers.
(d) The Accounts are entitled to receive dividends and any sale proceeds
with respect to the Stock in proportion to their respective ownership interests
therein.
Item 7 is hereby amended to read in its entirety as follows:
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit A - Agreement Regarding Joint Filing
Exhibit B - Transactions in the Stock by the Reporting Persons during the
last 60 days.
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CUSIP NO. 171796 10 5 13 D Page 7 of 7 Pages
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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.
Dated: March 8, 1999
BIOTECHNOLOGY VALUE FUND, L.P.
By: BVF Partners L.P., its general partner
By: BVF Inc., its general partner
By: /s/ Mark N. Lampert
-------------------------
Mark N. Lampert
President
BVF PARTNERS L.P.
By: BVF Inc., its general partner
By: /s/ Mark N. Lampert
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Mark N. Lampert
President
BVF INC.
By: /s/ Mark N. Lampert
-------------------------
Mark N. Lampert
President
<PAGE>
EXHIBIT A
AGREEMENT REGARDING JOINT FILING
The undersigned, Biotechnology Value Fund, L.P., a Delaware limited
partnership, and BVF Partners L.P., a Delaware limited partnership, and BVF
Inc., a Delaware corporation, hereby agree and acknowledge that the Amendment
containing the information required by Schedule 13D, to which this Agreement is
attached as an exhibit, is filed on behalf of each of them. The undersigned
further agree that any further amendments or supplements thereto shall also be
filed on behalf of each of them.
Dated: March 8, 1999
BIOTECHNOLOGY VALUE FUND, L.P.
By: BVF Partners L.P., its general partner
By: BVF Inc., its general partner
By: /s/ Mark N. Lampert
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Mark N. Lampert
President
BVF PARTNERS L.P.
By: BVF Inc., its general partner
By: /s/ Mark N. Lampert
-------------------------
Mark N. Lampert
President
BVF INC.
By: /s/ Mark N. Lampert
-------------------------
Mark N. Lampert
President
<PAGE>
EXHIBIT B
TRANSACTIONS IN THE STOCK BY THE REPORTING PERSONS
DURING THE PAST SIXTY DAYS
<TABLE>
<CAPTION>
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For the Price per Type of
Trade Date By Account of Quantity Share Trade Broker
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<S> <C> <C> <C> <C> <C> <C>
01/25/99 ILL10 Partners (5,000) $2.8750 Sale INET
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01/26/99 ILL10 Partners (5,500) $2.9375 Sale INET
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02/24/99 BVF Partners (12,400) $3.2500 Sale INET
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02/24/99 BVF Ltd. Partners (10,000) $3.2500 Sale INET
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02/25/99 BVF Partners (10,900) $3.2249 Sale INET
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02/25/99 BVF Ltd. Partners (9,000) $3.2249 Sale INET
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02/26/99 BVF Partners (9,000) $3.2500 Sale INET
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02/26/99 BVF Ltd. Partners (7,000) $3.2500 Sale INET
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03/01/99 BVF Partners (25,000) $3.0610 Sale INET
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03/01/99 BVF Ltd. Partners (16,500) $3.0610 Sale INET
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</TABLE>
INET = Instinet
