UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
(Amendment No. 3)*
UNDER THE SECURITIES EXCHANGE ACT OF 1934
PENEDERM INCORPORATED
------------------------------
(Name of Issuer)
Common Stock
------------------------------
(Title of Class of Securities)
706867-10-8
------------------------------
(CUSIP Number)
*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 the
disclosures provided in a prior cover page.
The information required in 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 ("Act") 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).
Page 1 of 11 pages
<PAGE>
- --------------------------- ---------------------------
CUSIP No. 706867-10-8 13G Page 2 of 11 Pages
- --------------------------- ---------------------------
- --------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
ONSET Enterprise Associates, L.P.
- --------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 Citizenship or place of organization
Delaware
- --------- ----------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF - 0 -
SHARES -------- -----------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH REPORTING - 0 -
PERSON WITH -------- -----------------------------------------
7 SOLE DISPOSITIVE POWER
- 0 -
-------- -----------------------------------------
8 SHARED DISPOSITIVE POWER
- 0 -
- --------- ----------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- 0 -
- --------- ----------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------- ----------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.00%
- --------- ----------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------- ----------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 2 of 11 pages
<PAGE>
- --------------------------- ---------------------------
CUSIP No. 706867-10-8 13G Page 3 of 11 Pages
- --------------------------- ---------------------------
- --------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
OEA Management, L.P.
- --------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 Citizenship or place of organization
Delaware
- --------- ----------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF - 0 -
SHARES -------- -----------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH REPORTING - 0 -
PERSON WITH -------- -----------------------------------------
7 SOLE DISPOSITIVE POWER
- 0 -
-------- -----------------------------------------
8 SHARED DISPOSITIVE POWER
- 0 -
- --------- ----------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- 0 -
- --------- ----------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------- ----------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.00%
- --------- ----------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------- ----------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 3 of 11 Pages
<PAGE>
- --------------------------- ---------------------------
CUSIP No. 706867-10-8 13G Page 4 of 11 Pages
- --------------------------- ---------------------------
- --------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Robert F. Kuhling, Jr.
- --------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 Citizenship or place of organization
United States
- --------- ----------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF - 0 -
SHARES -------- -----------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH REPORTING - 0 -
PERSON WITH -------- -----------------------------------------
7 SOLE DISPOSITIVE POWER
- 0 -
-------- -----------------------------------------
8 SHARED DISPOSITIVE POWER
- 0 -
- --------- ----------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- 0 -
- --------- ----------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------- ----------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.00%
- --------- ----------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------- ----------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 4 of 11 pages
<PAGE>
- --------------------------- ---------------------------
CUSIP No. 706867-10-8 13G Page 5 of 11 Pages
- --------------------------- ---------------------------
- --------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Terry L. Opdendyk
- --------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 Citizenship or place of organization
United States
- --------- ----------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 26,561
SHARES -------- -----------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH REPORTING - 0 -
PERSON WITH -------- -----------------------------------------
7 SOLE DISPOSITIVE POWER
26,561
-------- -----------------------------------------
8 SHARED DISPOSITIVE POWER
- 0 -
- --------- ----------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
26,561
- --------- ----------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------- ----------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.33%
- --------- ----------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------- ----------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 5 of 11 pages
<PAGE>
- --------------------------- ---------------------------
CUSIP No. 706867-10-8 13G Page 6 of 11 Pages
- --------------------------- ---------------------------
- --------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
ONSET, a California limited partnership
- --------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 Citizenship or place of organization
California
- --------- ----------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF - 0 -
SHARES -------- -----------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH REPORTING - 0 -
PERSON WITH -------- -----------------------------------------
7 SOLE DISPOSITIVE POWER
- 0 -
-------- -----------------------------------------
8 SHARED DISPOSITIVE POWER
- 0 -
- --------- ----------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- 0 -
- --------- ----------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------- ----------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.00%
- --------- ----------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------- ----------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 6 of 11 pages
<PAGE>
- --------------------------- ---------------------------
CUSIP No. 706867-10-8 13G Page 7 of 11 Pages
- --------------------------- ---------------------------
- --------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
ONSET Management, a California limited partnership
- --------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 Citizenship or place of organization
California
- --------- ----------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF - 0 -
SHARES -------- -----------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH REPORTING - 0 -
PERSON WITH -------- -----------------------------------------
7 SOLE DISPOSITIVE POWER
- 0 -
-------- -----------------------------------------
8 SHARED DISPOSITIVE POWER
- 0 -
- --------- ----------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- 0 -
- --------- ----------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------- ----------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.00%
- --------- ----------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------- ----------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 7 of 11 pages
<PAGE>
Item 1.
(a) Name of Issuer: Penederm Incorporated ("Issuer")
(b) Address of Issuer's Principal Executive Offices:
320 Lakeside Drive
Foster City, CA 94404
Item 2.
(a) Name of Person Filing:
ONSET Enterprise Associates, L.P. ("OEA")
OEA Management, L.P. ("OEAM")
Robert F. Kuhling, Jr. ("Kuhling")
Terry L. Opdendyk ("Opdendyk")
ONSET, a California limited partnership ("ONSET")
ONSET Management, a California limited partnership ("ONSET Management")
(b) Address of Principal Business Office:
2490 Sand Hill Road
Menlo Park, CA 94025
(c) Citizenship/Place of Organization:
OEA: Delaware
OEAM: Delaware
Kuhling: United States
Opdendyk: United States
ONSET: California
ONSET Management: California
(d) Title of Class of Securities: Common Stock
(e) CUSIP Number: 706867-10-8
Item 3. Not applicable.
Page 8 of 11 pages
<PAGE>
<TABLE>
Item 4 Ownership.
<CAPTION>
- ------ ---------------------- ------------ --------------- ------------- --------------- ------------ -------------
OEA OEAM Kuhling Opdendyk ONSET ONSET
Management
- ------ ---------------------- ------------ --------------- ------------- --------------- ------------ -------------
<S> <C> <C> <C> <C> <C> <C>
(a) Beneficial Ownership -0- -0- -0- 26,561 -0- -0-
- ------ ---------------------- ------------ --------------- ------------- --------------- ------------ -------------
(b) Percentage of Class 0.00% 0.00% 0.00% 0.33% 0.00% 0.00%
- ------ ---------------------- ------------ --------------- ------------- --------------- ------------ -------------
(c) Sole Voting Power -0- -0- -0- 26,561 -0- -0-
- ------ ---------------------- ------------ --------------- ------------- --------------- ------------ -------------
Shared Voting Power -0- -0- -0- -0- -0- -0-
- ------ ---------------------- ------------ --------------- ------------- --------------- ------------ -------------
Sole Dispositive Power -0- -0- -0- 26,561 -0- -0-
- ------ ---------------------- ------------ --------------- ------------- --------------- ------------ -------------
Shared Dispositive -0- -0- -0- -0- -0- -0-
Power
- ------ ---------------------- ------------ --------------- ------------- --------------- ------------ -------------
</TABLE>
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check the following: [X]
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group
No reporting person is a member of a group as defined in Section
240.13d-1(b)(1)(ii)(H) of the Act.
Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification
Not applicable.
EXHIBITS
A: Joint Filing Statement
Page 9 of 11 pages
<PAGE>
SIGNATURE
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.
Date: February 12, 1998
ONSET, a California limited partnership
By: ONSET Management, a California limited partnership,
its general partner
By: /s/ Terry L. Opdendyk
-----------------------------
General Partner
ONSET Management, a California limited partnership
By: /s/ Terry L. Opdendyk
--------------------------------------
General Partner
ONSET Enterprise Associates, L.P.
By: OEA Management, L.P., its general partner
By: /s/ Terry L. Opdendyk
-----------------------------
General Partner
OEA Management, L.P.
By: /s/ Terry L. Opdendyk
-------------------------------------
General Partner
/s/ Robert F. Kuhling, Jr.
- ----------------------------------------
Robert F. Kuhling, Jr.
/s/ Terry L. Opdendyk
- ----------------------------------------
Terry L. Opdendyk
Page 10 of 11 pages
<PAGE>
EXHIBIT A
We, the undersigned, hereby express our agreement that the attached
Schedule 13G is filed on behalf of us.
Date: February 12, 1998
ONSET, a California limited partnership
By: ONSET Management, a California limited partnership,
its general partner
By: /s/ Terry L. Opdendyk
-----------------------------
General Partner
ONSET Management, a California limited partnership
By: /s/ Terry L. Opdendyk
-------------------------------------
General Partner
ONSET Enterprise Associates, L.P.
By: OEA Management, L.P., its general partner
By: /s/ Terry L. Opdendyk
-----------------------------
General Partner
OEA Management, L.P.
By: /s/ Terry L. Opdendyk
-------------------------------------
General Partner
/s/ Robert F. Kuhling, Jr.
- ----------------------------------------
Robert F. Kuhling, Jr.
/s/ Terry L. Opdendyk
- ----------------------------------------
Terry L. Opdendyk
Page 11 of 11 pages
