<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
SPARTA PHARMACEUTICALS, INC.
- -------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, $.001 PAR VALUE PER SHARE
- -------------------------------------------------------------------------------
(Title of Class of Securities)
846638104
-------------------
(CUSIP Number)
December 31, 1998
------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[x] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* 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 disclosure
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 ("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 5 Pages
<PAGE>
CUSIP NO. 846638104 13G
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lou Weisbach
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) / /
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------
5 SOLE VOTING POWER
326,400
NUMBER -------------------------------------------------------------
6 SHARED VOTING POWER
OF SHARES
0
BENEFICIALLY -------------------------------------------------------------
OWNED BY 7 SOLE DISPOSITIVE POWER
EACH 326,400
-------------------------------------------------------------
REPORTING
8 SHARED DISPOSITIVE POWER
PERSON
0
WITH:
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
326,400
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
/ /
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9).
9.0%
- -------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
IN
- -------------------------------------------------------------------------------
Page 2 of 5 Pages
<PAGE>
ONLY THOSE ITEMS AMENDED ARE REPORTED HEREIN
UNLESS OTHERWISE DEFINED, ALL CAPITALIZED TERMS USED HEREIN SHALL HAVE THE
MEANINGS ASSIGNED TO THEM IN THE INITIAL SCHEDULE 13G FILED BY THE REPORTING
PERSON.
This statement constitutes Amendment No. 1 to the Statement on Schedule 13G
filed April 23, 1998 on behalf of Lou Weisbach (the "Reporting Person") in
connection with the beneficial ownership of the Common Stock, $.001 par value
per share (the "Common Stock"), of Sparta Pharmaceuticals, Inc., a Delaware
corporation (the "Company").
OWNERSHIP. Item 4 is hereby amended and restated in its entirety to read
as follows:
(a) Amount Beneficially Owned as of December 31, 1998:
326,400 shares of Common Stock
(b) Percent of Class:
Based on the Issuer's filing on Form 10-Q, dated October 30, 1998,
there are an aggregate of 3,618,471 shares of Common Stock issued and
outstanding. As of December 31, 1998, the Reporting Person
beneficially owned 326,400 shares of Common Stock or approximately
9.0% of the aggregate number of shares of Common Stock issued and
outstanding on such date.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 326,400
(ii) shared power to vote or to direct the vote: 0
(iii) sole power to dispose or to direct the
disposition of: 326,400
(iv) shared power to dispose or to direct the disposition of: 0
Page 3 of 5 Pages
<PAGE>
CERTIFICATION. Item 10 is hereby restated in its entirety to read as
follows:
By signing below, I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and
are not held in connection with or as a participant in any transaction
having that purpose or effect.
Page 4 of 5 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: Effective as of January 1, 1999.
/s/ Lou Weisbach
------------------------------
Lou Weisbach
Page 5 of 5 Pages
