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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission file number 0-18311
NEUROGEN CORPORATION 401 (k) RETIREMENT PLAN
Full title of plan
NEUROGEN CORPORATION
35 Northeast Industrial Road
Branford, Connecticut 06405
(203) 488-8201
(Name of issuer of the securities held pursuant to the plan)
<PAGE>
Neurogen Corporation 401(k) Retirement Plan
Current Value of Plan Assets and Liabilities
<TABLE>
<CAPTION>
<S> <C> <C>
December 31,
1997 1996
---- ----
ASSETS:
Cash $ - $ -
Receivables - 18,584
Investments:
U.S. Government securities - -
Corporate debt and equity instruments 218,268 278,814
Loans to participants 44,608 30,292
Other assets (money market and mutual funds) 2,761,887 1,749,243
--------- ---------
Total investments 3,024,763 2,076,933
Buildings and other property used in plan operations - -
Other assets - -
--------- ---------
Total assets 3,024,763 2,076,933
LIABILITIES:
Acquisition indebtedness - -
Other liabilities - -
---------- ---------
Total liabilities - -
---------- ---------
Plan equity $3,024,763 $2,076,933
========== =========
</TABLE>
<PAGE>
Neurogen Corporation 401(k) Retirement Plan
Statement of Income and Changes in Plan Equity
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Plan year ended December 31,
1997 1996 1995
---- ---- ----
INCOME
Contributions received or receivable in cash from:
Employer $ 129,032 $ 91,789 48,807
Employees 543,739 464,131 295,958
Others - 52,339 12,328
---------- ---------- ---------
Total cash contributions 672,771 608,259 357,093
Noncash contributions - - -
Earnings (loss) from investments 347,740 168,592 298,378
Net realized gain (loss) on sale or exchange of assets - - -
Other income - interest repayments 3,086 3,068 1,063
----------- ----------- ----------
Total income 1,023,597 779,919 656,534
EXPENSES:
Distribution of benefits:
Directly to participants and their beneficiaries 63,308 14,797 19,126
Other - - -
----------- ----------- ---------
Total distribution of benefits 63,308 14,797 19,126
Administrative expenses 12,459 9,997 -
Other expenses - - -
----------- ----------- ---------
Total expenses 75,767 24,794 19,126
----------- ----------- ---------
Net income 947,830 755,125 637,408
Plan Equity:
Beginning of year 2,076,933 1,321,808 684,400
----------- ----------- ---------
End of year $3,024,763 $2,076,933 $1,321,808
=========== =========== =========
</TABLE>
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
trustees (or other persons who administer the plan) have duly caused this annual
report to be signed on its behalf by the undersigned hereunto duly authorized.
Neurogen Corporation 401(k) Plan
Administrator: Neurogen Corporation
Date: July 21, 1998 By: /s/ STEPHEN R. DAVIS
---------------------
Stephen R. Davis
Vice President and Chief Financial Officer
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