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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
Larry N. Feinberg
c/o Oracle Partners, L.P.
712 Fifth Avenue
45th Floor
New York, New York 10019
2. Date of Event Requiring Statement (Month/Day/Year)
September 29, 1999
3. IRS Reporting Person
(Voluntary)
4. Issuer Name and Ticker or Trading Symbol
Texas Biotechnology Corporation
TXB
5. Relationship of Reporting Person(s) to Issuer (Check all
applicable)
( ) Director (X) 10% Owner ( ) Officer (give title
below) ( ) Other (specify below)
6. If Amendment, Date of Original (Month/Day/Year)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
1. Title of Security 2. Amount of 3. Ownership 4. Nature of Indirect
Securities Form: Beneficial Ownership
Beneficially Direct(D) or
Owned Indirect(I)
Common Stock 3,476,124* (I) General Partner
or Investment Manager
Table II -- Derivative Securities Beneficially Owned
<TABLE>
<S> <C> <C> <C> <C> <C>
1.Title of 2.Date Exer- 3.Title and Amount 4.Conver- 5.Ownership 6.Nature of
Derivative cisable and of Securities sion or Form of Indirect
Security Expiration Underlying Exercise Derivative Beneficial
Date Derivative Security Price of Security: Ownership
(Month/Day/ --------------- Deri- Direct(D) or
Year) Title Amount or vative Indirect (I)
--------------- Number of Security
Date Expira- Shares
Exer- tion
cisable Date
</TABLE>
EXPLANATION OF RESPONSES:
* The reporting person disclaims beneficial ownership of these
securities except to the extent of his pecuniary interest
therein, and this report shall not be deemed an admission that
the reporting person is the beneficial owner of such securities
for purposes of Rule 16a-1(a)(1) or (a)(2) of the Securities
Exchange Act of 1934 or for any other purpose.
SIGNATURE OF REPORTING PERSON
/s/ Larry N. Feinberg
_____________________________
Larry N. Feinberg
DATE
October 7, 1999
2
00751001.BC9
