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FORM 4 OMB APPROVAL
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- ----- Check this box if no longer OMB Number: 3235-0287
subject to Section 16. Form 4 Expires: September 30, 1998
- ----- or Form 5 obligations may Estimated average burden
continue. SEE Instruction 1(b). hours per response .... 0.5
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Feinberg, Larry N.
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(Last) (First) (Middle)
c/o Oracle Partners, L.P.
712 Fifth Avenue, 45th Floor
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(Street)
New York, New York 10019
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Texas Biotechnology Corporation
TXB
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
12/99
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ ] Director
[x] 10% Owner
[ ] Officer (give title below)
[ ] Other (specify below)
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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>
<CAPTION>
TABLE I--NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY
OWNED
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1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A)
(Instr. 3) action action or Disposed of (D)
Date Code (Instr. 3, 4 and 5)
(Month/ (Instr. 8) --------------------------
Day/ ----------- Amount (A) or Price
Year) Code V (D)
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<S> <C> <C> <C> <C> <C> <C>
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Common Stock 12/17/99 P 20,000 A(3) $5.5478
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Common Stock 12/31/99 P 50,000 A(4) 7.9375
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Common Stock NONE
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5. Amount of 6. Ownership 7. Nature of
Securities Form: Direct Indirect
Beneficially (D) or Indirect Beneficial
Owned at End (I) (Instr. 4) Ownership
of Month (Instr. 4)
(Instr. 3
and 4)
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<C> <C> <C>
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3,502,324 I (1)
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3,502,324 I (1)
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134,900 D (2)
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</TABLE>
Reminder: Report on a separate line for each class of securities
beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, SEE
Instruction 4(b)(v).
(Over)
SEC 1474 (7-96)
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FORM 4 (continued)
<TABLE>
<CAPTION>
TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative 2. Conver- 3. Transac- 4. Transac- 5. Number of
Security (Instr. 3) sion or tion Date tion Code Derivative
Exercise (Month/ (Instr. 8) Securities
Price of Day/ ------------ Acquired (A)
Deriv- Year) Code V or Disposed
ative of (D) (Instr.
Security 3, 4, and 5)
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(A) (D)
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<S> <C> <C> <C> <C> <C> <C>
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6. Date Exer- 7. Title and Amount 8. Price of
cisable and of Underlying Derivative
Expiration Date Securities Security
(Month/Day/ (Instr. 3 and 4) (Instr. 5)
Year) -------------------
- ------------------ Amount or
Date Expira- Title Number of
Exer- tion Shares
cisable Date
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<C> <C> <C> <C> <C>
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9. Number of 10. Ownership 11. Nature of
Derivative Form of Indirect
Securities Derivative Beneficial
Beneficially Security: Ownership
Owned at Direct (D) or (Instr. 4)
End of Month Indirect (I)
(Instr. 4) (Instr. 4)
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<C> <C> <C>
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</TABLE>
Explanation of Responses
(1) The shares of Common Stock to which this note relates are held directly
by Oracle Partners, L.P. ("Oracle Partners") (2,050,900 shares), Oracle
Institutional Partners, L.P. ("Oracle Institutional") (565,900 shares), GSAM
Oracle Investments, Inc. ("GSAM Investments") (710,624 shares), Oracle
Offshore Limited ("Oracle Offshore") (119,900 shares), The Feinberg Family
Foundation (the "Foundation") (20,000 shares) and Oracle Management Company
Employee Retirement Account (the "Retirement Plan") (30,000 shares). Oracle
Investment Management, Inc. (the "Investment Manager") serves as investment
manager to and has investment discretion over the securities held by GSAM
Investments, Oracle Offshore and the Retirement Plan. The undersigned is the
general partner of Oracle Partners and Oracle Institutional, the trustee of
the Foundation, and the sole shareholder and president of the Investment
Manager. In accordance with Instruction 4(b)(iii), the entire number of
shares of Common Stock held by Oracle Partners, Oracle Institutional, GSAM
Investments, Oracle Offshore, the Foundation and the Retirement Plan is
reported herein. The undersigned disclaims any beneficial ownership of the
securities to which this Form 4 relates for purposes of Section 16 of the
Securities and Exchange Act of 1934, as amended (the "Act"), except as to such
securities representing the undersigned's pro rata interest in, and interest
in the profits of, Oracle Partners, Oracle Institutional, GSAM Investments,
Oracle Offshore, the Foundation and the Retirement Plan.
Also included are 5,000 shares of Common Stock owned by Mr. Joel Liffman, an
investment professional employed by the Investment Manager. This filing shall
not be deemed an admission that the undersigned is, for purposes of Section 16
of the Act or otherwise, the beneficial owner of any securities owned by Mr.
Joel Liffman.
(2) The 134,900 shares of Common Stock to which this note relates are held
directly by the undersigned.
(3) The shares of Common Stock to which this note relates were acquired by
the Foundation (10,000 shares) and the Retirement Plan (10,000 shares).
(4) The shares of Common Stock to which this note relates were acquired by
Oracle Partners (36,400 shares), GSAM Investments (11,100 shares) and Oracle
Offshore (2,500 shares).
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this form, one of which must be manually signed.
If space is insufficient, SEE Instruction 6 for procedure.
/s/ Larry N. Feinberg 1/10/00
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**Signature of Reporting Person Date
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