U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utilitiy Holding Company Act of 1935
or Section 30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting Person
Katz David H.
(Last) (First) (Middle)
11077 North Torrey Pines Road
(Street)
La Jolla California 92037
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol: Lidak Pharmaceuticals (LDAKA)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year: January 1998
5. If Amendment, Date of Original (Month/Day/Year)
6. Relationship of Reporting Person to Issuer (Check all applicable)
/x / Director / / 10% Owner
/x / Officer (give title below) / / Other (Specify below)
President
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficiallly
Owned
2. Transaction 3. Transaction 4. Securities Acquired
Date (Month/ Code (Instr. 8) (A) or Disposed (D)
1. Title of Security Day/Year) Code V (Instr. 3, 4 and 5)
(Instr. 3) Amount (A) or Price
(D)
Class A Common Stock 01/12/98 S 308,100 D $4.04
Class B Common Stock 01/12/98 S 70,200 D $4.04
Class A Common Stock 01/12/98 J* 718,903 D
Class B Common Stock 01/12/98 J* 163,800 D
5. Amount of 6. Ownership 7. Nature of Indirect
Securities Form: Direct Beneficial Ownership
Beneficially (D) or Indirect (Instr. 4)
Owned at End (I) (Instr. 4)
of Month
(Instr. 3 and 4)
Class A Common Stock 80,000 D** Incentive Stock Option
Class A Common Stock 1,827,000 D** Nonqualified Stock Option
Class B Common Stock 375,000 D** Nonqualified Stock Option
Class A Common Stock 386,190 D Class D. Warrant
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly
If the form is filed by more than one reporting person, see Instruction 5(b)(v).
<PAGE>
Table II: Derivative Security Beneficially Owned (e.g., puts, calls, warrants,
options, convertible securities)
2. Conversions 3. Transaction 4. Transaction Code
1. Title of Derivative or Exercise Price Date (Month/ (Instr. 8)
Security (Instr. 4) of Derivative Day/Year)
Security
5. Number of 6. Date Exercisable and
Derivative Securitis Expiration Date (Month/Day/Year)
Acquired (A) or
Disposed of (D) Date Exercisable Expiration Date
(Instr. 3, 4 and 5)
Amount (A) or (D)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
Title Amount or Number
of Shares
8. Price of 9. Number of Derivative
Derivative Security Securities Beneficially
(Instr. 5) Owned at End of Month
(Instr. 4)
10. Ownership Form 11. Nature of Indirect
of Derivative Security: Beneficial Ownership
Direct (D) or Indirect (Instr. 4)
(I) (Instr. 4)
Explanation of Responses:
*Transfer of Class A Common Stock and Class B Common Stock into a Voting Trust
Agreement dated January 12, 1998 between Reporting Person and HealthMed in a
transaction more specifically described in the Reporting Person's Schedule 13D
filed with the Securities and Exchange Commission on January 21, 1998.
**The disposition of the Class A and Class B Common stock underlying the options
is subject to a Purchase Rights Agreement dated January 12, 1998 between Report-
ing Person and HealthMed and filed as an exhibit with the Schedule 13D on
January 21, 1998.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/ David H. Katz
_____________________________
Signature of Reporting Person
