<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q/A
/X/ AMENDMENT NO. 1 TO THE QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 1999
/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from ________________ to ___________
Commission File Number: 0-21134
PROCEPT, INC.
-------------
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Delaware 04-2893483
-------- ----------
(STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION) IDENTIFICATION NO.)
840 Memorial Drive, Cambridge, Massachusetts 02139
- -------------------------------------------- -----
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
Registrant's telephone number, including area code: (617) 491-1100
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act
of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.
YES X NO
--- ---
Number of shares outstanding of each of the issuer;s classes of common
stock, as of latest practicable date.
CLASS OUTSTANDING AS OF JUNE 4, 1999
----- ------------------------------
Common Stock, $.01 par value 11,190,208
Exhibit Index Appears on Page 4
<PAGE>
PROCEPT, INC.
FORM 10-Q/A, MARCH 31, 1999
This Form 10-Q/A constitutes Amendment No. 1 to the registrant's Quarterly
Report on Form 10-Q for the quarter ended March 31, 1999. This Form 10-Q/A
corrects Exhibit 27.1 Financial Data Schedule.
2
<PAGE>
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, thereunto duly authorized.
PROCEPT, INC.
(Registrant)
Date: June 4, 1999 by: /s/ John F. Dee
---------------------------------
John F. Dee
President and Chief Executive Officer
/s/ Michael E. Fitzgerald
----------------------------------
Michael E. Fitzgerald
Vice President, Finance
Chief Financial Officer
3
<PAGE>
EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit
Number Description
------- -----------
<S> <C>
27.1 Financial Data Schedule. Filed herewith.
</TABLE>
4
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
balance sheet at March 31, 1999 and the statement of operations for the
three months ended March 31, 1999 and is qualified in its entirety by
reference to such financial statements.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-1-1999
<PERIOD-END> MAR-31-1999
<CASH> 5,586,685
<SECURITIES> 1,001,754
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 7,088,903
<PP&E> 1,963,386
<DEPRECIATION> 1,825,092
<TOTAL-ASSETS> 7,417,812
<CURRENT-LIABILITIES> 2,060,736
<BONDS> 0
0
0
<COMMON> 73,043
<OTHER-SE> 441,196
<TOTAL-LIABILITY-AND-EQUITY> 7,417,812
<SALES> 0
<TOTAL-REVENUES> 81,853
<CGS> 0
<TOTAL-COSTS> 10,071,304
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 549
<INCOME-PRETAX> (9,990,000)
<INCOME-TAX> 0
<INCOME-CONTINUING> (9,990,000)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (9,990,000)
<EPS-BASIC> (2.69)
<EPS-DILUTED> (2.69)
</TABLE>
