<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
(RULE 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO 13d-
1(a) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)
(AMENDMENT NO. 2)(1)
SYNAPTIC PHARMACEUTICAL CORPORATION
-----------------------------------
(Name of Issuer)
COMMON STOCK
------------
(Title of Class of Securities)
87156R 10 9
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(CUSIP Number)
Marc Schneidman
BVF Partners L.P.
227 West Monroe Street, Suite 4800
Chicago, Illinois 60606
(312) 263-7777
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 19, 1999
--------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following
box / / .
NOTE: Six copies of this statement, including all exhibits, should be
filed with the Commission. SEE Rule 13d-1(a) for other parties to whom
copies are to be sent.
(Continued on following pages)
- ---------------
(1) 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 disclosures 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 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).
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CUSIP NO. 87156R 10 9 13D Page 2 of 7 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
BIOTECHNOLOGY VALUE FUND, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /X/ (b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 677,867
OWNED BY -------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
677,867
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
677,867
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.3%
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14 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 87156R 10 9 13D Page 3 of 7 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
BVF PARTNERS L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /X/ (b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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7 SOLE VOTING POWER
-0-
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,317,317
OWNED BY -------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,317,317
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,317,317
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.3%
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14 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 87156R 10 9 13D Page 4 of 7 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
BVF INC.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /X/ (b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC, OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,317,317
OWNED BY -------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,317,317
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,317,317
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.3%
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14 TYPE OF REPORTING PERSON*
IA, CO
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 87156R 10 9 13D Page 5 of 7 Pages
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This Amendment No. 2 (the "Amendment") to the Statement on Schedule 13D,
dated September 8, 1998 and Amendment No. 1 thereto, dated December 17, 1998
(as so amended, the "Statement"), is filed with the Securities and Exchange
Commission on behalf of Biotechnology Value Fund, L.P., a Delaware limited
partnership ("BVF"), BVF Partners L.P., a Delaware limited partnership
("Partners"), and BVF Inc., a Delaware corporation ("BVF Inc." and, together
with BVF and Partners, the "Reporting Persons") with respect to the Common
Stock, par value $0.01 (the "Stock"), of Synaptic Pharmaceutical Corporation,
a Delaware corporation ("Synaptic").
Item 3 is hereby amended to read in its entirety as follows:
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Since January 22, 1999, Partners, in its capacity as general partner of
BVF, has purchased on behalf of such limited partnership an aggregate number
of 309,000 shares of the Stock for an aggregate consideration of
$2,042,659.00, and has sold on behalf of such limited partnership an
aggregate number of 36,100 shares of the Stock for an aggregate consideration
of $546,407.00. In addition, Partners, in its capacity as investment manager
with respect to certain managed accounts, has purchased on behalf of such
managed accounts an aggregate number of 295,200 shares of the Stock for an
aggregate consideration of $1,950,608.17, and has sold on behalf of such
managed accounts an aggregate number of 4,000 shares of the Stock for an
aggregate consideration of $59,612.99. The managed accounts on whose behalf
Partners owns shares of the Stock are Investment 10 L.L.C., an Illinois
limited liability company ("ILL10"), Palamundo, L.D.C., a limited duration
company organized under the laws of the Cayman Islands ("Palamundo"), ZPG
Securities, L.L.C., a New York limited liability company ("ZPG") and
Biotechnology Value Fund, Ltd., a Cayman Islands Corporation ("BVF Ltd.").
ILL10, Palamundo, ZPG and BVF Ltd. are collectively referred to herein as the
"Accounts." The Accounts specialize in holding biotechnology stocks for
investment purposes and the business address of each is BVF Partners L.P.,
227 West Monroe Street, Suite 4800, Chicago, Illinois 60606.
Item 5 is hereby amended to read in its entirety as follows:
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) BVF beneficially owns 677,867 shares of the Stock, Partners
beneficially owns 1,317,317 shares of the Stock, and BVF Inc. beneficially
owns 1,317,317 shares of the Stock, approximately 6.3%, 12.3% and 12.3%,
respectively, of the aggregate number of shares outstanding as of February
15, 1999 (as reported in Synaptic's most recent annual statement on Form
10-K).
<PAGE>
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CUSIP NO. 87156R 10 9 13D Page 6 of 7 Pages
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(b) BVF shares voting and dispositive power over the 677,867 shares of
the Stock it beneficially owns with Partners. Partners and BVF Inc. share
voting and dispositive power over the 1,317,317 shares of the Stock they
beneficially own with, in addition to BVF, the managed accounts on whose
behalf Partners, as investment manager, purchased such shares.
(c) Exhibit B attached hereto contains information as to all
transactions in the Stock by the Reporting Persons in the last sixty (60)
days. All such transactions were made for cash in open market,
over-the-counter transactions. Except as provided below, no other
transactions in the Stock have been effected by the Reporting Persons during
the last sixty 60 days. On February 11, 1999, Partners transferred 11,000
shares of Stock that it owned on behalf of ILL10 to BVF and transferred
10,000 shares of Stock that it owned on behalf of ILL10 to BVF, Ltd. The
aggregate number of shares of the Stock beneficially owned by Partners and
BVF Inc. was not affected by these transfers.
(d) The Accounts are entitled to receive dividends and any sale
proceeds with respect to the Stock in proportion to their respective
ownership interests therein.
Item 7 is hereby amended to read in its entirety as follows:
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit A - Agreement Regarding Joint Filing
Exhibit B - Transactions in the Stock by the Reporting Persons during
the past sixty (60) days.
<PAGE>
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CUSIP NO. 87156R 10 9 13D Page 7 of 7 Pages
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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.
Dated: March 30, 1999
BIOTECHNOLOGY VALUE FUND, L.P.
By: BVF Partners L.P., its general partner
By: BVF Inc., its general partner
By: /s/ MARK N. LAMPERT
-----------------------------------
Mark N. Lampert
President
BVF PARTNERS L.P.
By: BVF Inc., its general partner
By: /s/ MARK N. LAMPERT
-----------------------------------
Mark N. Lampert
President
BVF INC.
By: /s/ MARK N. LAMPERT
-----------------------------------
Mark N. Lampert
President
<PAGE>
EXHIBIT A
AGREEMENT REGARDING JOINT FILING
The undersigned, Biotechnology Value Fund, L.P., a Delaware limited
partnership, and BVF Partners L.P., a Delaware limited partnership, and BVF
Inc., a Delaware corporation, hereby agree and acknowledge that the Amendment
containing the information required by Schedule 13D, to which this Agreement
is attached as an exhibit, is filed on behalf of each of them. The
undersigned further agree that any further amendments or supplements thereto
shall also be filed on behalf of each of them.
Dated: March 30, 1999
BIOTECHNOLOGY VALUE FUND, L.P.
By: BVF Partners L.P., its general partner
By: BVF Inc., its general partner
By: /s/ MARK N. LAMPERT
-----------------------------------
Mark N. Lampert
President
BVF PARTNERS L.P.
By: BVF Inc., its general partner
By: /s/ MARK N. LAMPERT
-----------------------------------
Mark N. Lampert
President
BVF INC.
By: /s/ MARK N. LAMPERT
-----------------------------------
Mark N. Lampert
President
<PAGE>
EXHIBIT B
TRANSACTIONS IN THE STOCK BY THE REPORTING PERSONS
DURING THE PAST SIXTY DAYS
<TABLE>
<CAPTION>
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For the Price per Type of
Trade Date By Account of Quantity Share Trade Broker
---------- -- ---------- -------- --------- ------- ------
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<S> <C> <C> <C> <C> <C> <C>
02/18/99 BVF Partners (3,000) $16.9375 Sale INET
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02/24/99 BVF Partners (2,100) $16.5625 Sale INET
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02/24/99 BVF Partners (20,000) $16.6250 Sale HMQT
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02/24/99 BVF Partners (3,000) $16.7500 Sale INET
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02/26/99 BVF Partners (3,000) $16.0000 Sale INET
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02/26/99 BVF Ltd. Partners (2,000) $16.0000 Sale INET
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03/04/99 ILL10 Partners (1,000) $13.8750 Sale INET
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03/04/99 ZPG Partners (1,000) $13.8750 Sale INET
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03/04/99 BVF Partners 13,000 $11.0000 Purchase HMQT
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03/04/99 BVF Ltd. Partners 12,000 $11.0000 Purchase HMQT
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03/19/99 BVF Partners 5,000 $6.5000 Purchase HMQT
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03/19/99 BVF Ltd. Partners 5,000 $6.5000 Purchase HMQT
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03/19/99 BVF Partners 50,000 $6.5781 Purchase VECT
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03/19/99 ILL10 Partners 5,000 $6.5781 Purchase VECT
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03/19/99 BVF Ltd. Partners 45,000 $6.5781 Purchase VECT
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03/19/99 BVF Partners 16,000 $6.8506 Purchase INET
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03/19/99 ILL10 Partners 3,300 $6.8506 Purchase INET
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03/19/99 BVF Ltd. Partners 14,000 $6.8506 Purchase INET
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03/22/99 BVF Partners 68,000 $6.6977 Purchase INET
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03/22/99 ILL10 Partners 4,000 $6.6977 Purchase INET
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03/22/99 BVF Ltd. Partners 56,700 $6.6977 Purchase INET
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03/23/99 BVF Partners 18,000 $6.5206 Purchase INET
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<PAGE>
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03/23/99 ILL10 Parnters 5,000 $6.5206 Purchase INET
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03/23/99 BVF Ltd. Partners 14,000 $6.5206 Purchase INET
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03/24/99 BVF Partners 9,000 $6.2500 Purchase INET
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03/24/99 ILL10 Partners 3,200 $6.2500 Purchase INET
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03/24/99 BVF Ltd. Partners 8,000 $6.2500 Purchase INET
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03/25/99 BVF Partners (5,000) $6.0625 Sale HMQT
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03/25/99 BVF Partners 130,000 $6.1250 Purchase JEFF
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03/25/99 ILL10 Partners 10,000 $6.1250 Purchase JEFF
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03/25/99 BVF Ltd. Partners 110,000 $6.1250 Purchase JEFF
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</TABLE>
HMQT = Hambrecht, Quist
INET = Instinet
JEFF = Jeffries & Co.
VECT = Vector Securities
