SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
---------------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): February 5, 1999
SYNAPTIC PHARMACEUTICAL CORPORATION
(Exact Name of Registrant as Specified in Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
0-27324 22-285-9704
(Commission File Number) (I.R.S. Employer Identification No.)
215 College Road
Paramus, New Jersey 07652-1431
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (201) 261-1331
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Item 5. Other Events
On December 31, 1998, the term of the collaboration between Synaptic
Pharmaceutical Corporation (the "Company") and Eli Lilly and Company ("Lilly"),
which was focused on a number of serotonin receptor subtypes and therapeutic
applications, expired in accordance with the terms of the Research, Option and
License Agreement dated as of January 25, 1991. In connection with the
expiration of the term, the Company's obligation to provide research support to
Lilly and Lilly's corresponding obligation to provide research funding to the
Company terminated.
On February 4, 1999, the Company agreed to provide Lilly with
continuing research support through July 31, 1999, in consideration for Lilly's
agreement to provide the Company with research funding through such date.
This Report on Form 8-K contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Such statements include any statements which
are not historical facts. Such statements involve risks and uncertainties,
including, but not limited to, those risks and uncertainties detailed under the
captions "Dependence on Collaborative Partners and Licensees for Development,
Regulatory Approvals, Manufacturing, Marketing and Other Resources" and "Future
Capital Needs; Uncertainty of Additional Funding" as "Cautionary Statements" in
the Company's Annual Report on Form 10-K for the fiscal year ended December 31,
1997, or detailed from time to time in filings the Company makes with the
Securities and Exchange Commission. Although the Company believes that the
expectations reflected in the forward-looking statements contained herein are
reasonable, it can give no assurance that such expectations will prove to be
correct. The Company expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking statement contained
herein to reflect any change in the Company's expectations with regard thereto
or any change in events, conditions or circumstances on which any such statement
is based.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Date: February 5, 1999
SYNAPTIC PHARMACEUTICAL CORPORATION
(Registrant)
By: /s/ Kathleen P. Mullinix
-------------------------------
Name: Kathleen P. Mullinix
Title: Chairman, President
and Chief Executive Officer
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