<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/
MICROCIDE PHARMACEUTICALS, INC.
-------------------------------
(Name of Issuer)
Common Stock
------------
(Title of Class of Securities)
59501 8 102
-----------
(CUSIP Number)
Hope Flack
BVF Partners L.P.
333 West Wacker Drive, Suite 1600
Chicago, Illinois 60606
(312) 263-7777
--------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 23, 1997
-----------------
(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)
(Page 1 of 7 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).
<PAGE>
SCHEDULE 13D
- ----------------------------- -------------------------
CUSIP No. 59501 8 102 Page 2 of 7 Pages
- ----------------------------- -------------------------
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Biotechnology Value Fund, L.P.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [_]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) [_]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF -0-
SHARES ------------------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY
EACH 595,300
REPORTING ------------------------------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH
-0-
------------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
595,300
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
595,300
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.5%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------------- -------------------------
CUSIP No. 59501 8 102 Page 3 of 7 Pages
- ----------------------------- -------------------------
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
BVF Partners L.P.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [_]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) [_]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF -0-
SHARES ------------------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY
EACH 1,184,000
REPORTING ------------------------------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH
-0-
------------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
1,184,000
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,184,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.9%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------------- -------------------------
CUSIP No. 59501 8 102 Page 4 of 7 Pages
- ----------------------------- -------------------------
- --------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
BVF Inc.
- --------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [_]
- --------------------------------------------------------------------------------
3. SEC USE ONLY
- --------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) [_]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF -0-
SHARES ------------------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY
EACH 1,184,000
REPORTING ------------------------------------------------------------------
PERSON 9. SOLE DISPOSITIVE POWER
WITH
-0-
------------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
1,184,000
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,184,000
- --------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
- --------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.9%
- --------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON*
IA, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
- ----------------------------- -------------------------
CUSIP No. 59501 8 102 Page 5 of 7 Pages
- ----------------------------- -------------------------
Amendment No. 2 (the "Amendment") to the Statement on Schedule 13D, dated
August 7, 1997, as amended by Amendment No. 1, dated October 15, 1997 (as so
amended, the "Statement"), 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, no par value (the
"Stock"), of Microcide Pharmaceuticals, Inc., a Delaware corporation
("Microcide").
Item 3 is hereby amended to read in its entirety as follows:
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Since December 23, 1997, Partners, in its capacity as general partner of
BVF, has purchased on behalf of such limited partnership an aggregate number of
75,000 shares of the Stock for an aggregate consideration of $590,625, utilizing
funds provided by BVF from its working capital pursuant to the terms of its
limited partnership agreement with Partners. 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 130,000
shares of the Stock for an aggregate consideration of $1,033,157, utilizing
funds under management by Partners pursuant to investment management agreements
between Partners and such managed accounts.
Item 5 is hereby amended to read in its entirety as follows:
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) BVF beneficially owns 595,300 shares of the Stock, Partners
beneficially owns 1,184,000 shares of the Stock, and BVF Inc. beneficially owns
1,184,000 shares of the Stock, approximately 5.5%, 10.9% and 10.9%,
respectively, of the aggregate number of shares outstanding as of October 31,
1997 (as reported in Microcide's most recent statement on Form 10-Q for the
quarter ending September 30, 1997).
(b) BVF shares voting and dispositive power over the 595,300 shares of the
Stock it beneficially owns with Partners. Partners and BVF Inc. share voting
and dispositive power over the 1,184,000 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. 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
<PAGE>
SCHEDULE 13D
- ----------------------------- -------------------------
CUSIP No. 59501 8 102 Page 6 of 7 Pages
- ----------------------------- -------------------------
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., 333 West Wacker Drive, Suite
1600, Chicago, Illinois 60606.
(c) Exhibit B attached hereto contains information as to all transactions
in the Stock by the Reporting Persons during the past sixty days. All such
transactions were made for cash in open market, over-the-counter transactions.
No other transactions in the Stock have been effected by the Reporting Persons
during the past sixty days.
(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
last 60 days.
<PAGE>
SCHEDULE 13D
- ----------------------------- -------------------------
CUSIP No. 59501 8 102 Page 7 of 7 Pages
- ----------------------------- -------------------------
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: February 27, 1998.
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: February 27, 1998.
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>
Settlement By For the Quantity Price Type of Trade Broker
Date ----------- Account of --------- per ------------- ------
- ---------- ----------- Share
---------
- ---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
12/23/97 BVF Partners 15,000 $8.8750 Purchase COWN
- ---------------------------------------------------------------------------------------
12/23/97 ILL10 Partners 8,000 $8.8750 Purchase COWN
- ---------------------------------------------------------------------------------------
12/23/97 PAL Partners 4,000 $8.8750 Purchase COWN
- ---------------------------------------------------------------------------------------
12/23/97 ZPG Partners 3,000 $8.8750 Purchase COWN
- ---------------------------------------------------------------------------------------
12/23/97 BVF Ltd. Partners 30,000 $8.8750 Purchase COWN
- ---------------------------------------------------------------------------------------
02/11/98 BVF Ltd Partners (7,300) $7.1875 Sale INET
- ---------------------------------------------------------------------------------------
02/11/98 BVF Ltd. Partners 45,000 $7.3056 Purchase COWN
- ---------------------------------------------------------------------------------------
02/20/98 BVF Partners 60,000 $7.6250 Purchase COWN
- ---------------------------------------------------------------------------------------
02/20/98 BVF Ltd. Partners 40,000 $7.6250 Purchase COWN
- ---------------------------------------------------------------------------------------
</TABLE>
INET = Instinet
COWN = Cowen & Company
