UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported): March 12, 1997
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SERAGEN, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 0-19855 04-2662345
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
97 SOUTH STREET, HOPKINTON, MASSACHUSETTS 01748
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code; (508) 435-2331
Page 1 of 5 pages
Exhibit Index on page 4
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Item 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
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On March 12, 1997, the Board of Directors of Seragen, Inc. (the "Company") at
the recommendation of the Company's Audit Committee voted to replace Coopers &
Lybrand L.L.P. with Arthur Andersen LLP as the Company's independent
accountants effective March 12, 1997. Coopers & Lybrand L.L.P.'s reports for
the last two fiscal years contained no adverse opinions, disclaimers, or
qualifications or modifications as to uncertainty, audit scope or accounting
principles, except that the report on the 1995 financial statements included
an explanatory paragraph concerning factors which raise substantial doubt
about the Company's ability to continue as a going concern and during such two
fiscal year period and the subsequent interim period since then, there have
been no disagreements with Coopers & Lybrand L.L.P. on any matter of
accounting principles or practices, financial statement disclosure or auditing
scope or procedure which, if not resolved to the satisfaction of Coopers &
Lybrand L.L.P., would have caused it to make reference to the subject matter
of the disagreement in connection with its reports.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit Number Description
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16.1 Letter regarding change in certifying accountant
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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.
Seragen, Inc.
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(Registrant)
Date: March 12, 1997 /s/ Reed R. Prior
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Reed R. Prior
Chairman and Chief Executive Officer
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<TABLE>
EXHIBIT INDEX
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<CAPTION>
Exhibit Sequential
Number Description Page Number
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<S> <C> <C>
16.1 Letter regarding change in 5
certifying accountant
</TABLE>
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March 12, 1997
Securities and Exchange Commission
450 5th Street, N.W.
Washington, DC 20549
Gentlemen:
We have read the statements made by Seragen, Inc. (copy attached), which we
understand will be filed with the Commission, pursuant to Item 4 of Form 8-K,
as part of the Company's Form 8-K report. We agree with the statements
concerning our Firm in such Form 8-K.
Very truly yours,
/s/ Coopers & Lybrand L.L.P.
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Coopers & Lybrand L.L.P.
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