<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
(RULE 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULES 13d-1(b) (c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(AMENDMENT NO. __1__)/1/
ASCENT PEDIATRICS, INC.
- --------------------------------------------------------------------------------
(Name of issuer)
COMMON STOCK, par value $0.00004 per share
- --------------------------------------------------------------------------------
(Title of class of securities)
04362X101
- --------------------------------------------------------------------------------
(CUSIP number)
June 1, 1998
- --------------------------------------------------------------------------------
(Date of event which requires filing of this statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[_] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
(Continued on the following pages)
(Page 1 of 9 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 13G
- ------------------- -------------------
CUSIP NO. 04362X101 PAGE 2 OF 9 PAGES
- ------------------- -------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSONS.
1 S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Triumph - Connecticut Limited Partnership
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
State of Connecticut
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 654,591
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
None
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 654,591
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
None
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
654,591
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
8.64%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 9
<PAGE>
SCHEDULE 13G
- ------------------- -------------------
CUSIP NO. 04362X101 PAGE 3 OF 9 PAGES
- ------------------- -------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSONS.
1 S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Triumph - Connecticut Capital Advisors, L.P.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
State of Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 654,591
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
None
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 654,591
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
None
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
654,591
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
8.64%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 9
<PAGE>
SCHEDULE 13G
- ------------------- -------------------
CUSIP NO. 04362X101 PAGE 4 OF 9 PAGES
- ------------------- -------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSONS.
1 S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Triumph - Capital Group, Inc.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
State of Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 654,591
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
None
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 654,591
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
None
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
654,591
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
8.64%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 9
<PAGE>
SCHEDULE 13G
- ------------------- -------------------
CUSIP NO. 04362X101 PAGE 5 OF 9 PAGES
- ------------------- -------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSONS.
1 S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Frederick W. McCarthy
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
USA
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 654,591
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
None
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 654,591
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
None
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
654,591
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
8.64%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 9
<PAGE>
STATEMENT ON SCHEDULE 13G
Item 1(a). Name of Issuer:
--------------
Ascent Pediatrics, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
-----------------------------------------------
187 Ballardvale Street
Wilmington, MA 01887
Item 2(a). Names of Person Filing:
----------------------
Triumph - Connecticut Limited Partnership
Triumph - Connecticut Capital Advisors, L.P.
Triumph Capital Group, Inc.
Frederick W. McCarthy
Item 2(b). Business Mailing Address for the Person Filing:
----------------------------------------------
Triumph Capital Group, Inc.
60 State Street, 21st Floor
Boston, MA 02109
Item 2(c). Citizenship:
-----------
State of Connecticut
State of Delaware
State of Delaware
USA
Item 2(d). Title of Class of Securities:
----------------------------
Common Stock, par value $0.00004 per share
Item 2(e). CUSIP Number:
------------
04362X101
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
---------------------------------------------------------
13d-2(b), check whether the person filing is a:
-----------------------------------------------
Not Applicable
Item 4. Ownership:
---------
(a) Amount Beneficially Owned:
654,591 shares of Common Stock
(b) Percent of Class:
8.64%
(c) Number of shares as to which such person has:
Page 6 of 9
<PAGE>
(i) sole power to vote or to direct the vote:
654,591 shares of Common Stock
(ii) shared power to vote or to direct the vote: none
(iii) sole power to dispose or to direct the disposition of:
654,591 shares of Common Stock
(iv) shared power to dispose or to direct the disposition
of: none
Item 5. Ownership of Five Percent or Less of a Class:
--------------------------------------------
Not Applicable
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
---------------------------------------------------------------
Not Applicable
Item 7. Identification and Classification of the Subsidiary Which
---------------------------------------------------------
Acquired the Security Being Reported on By the Parent Holding
-------------------------------------------------------------
Company:
-------
Not Applicable
Item 8. Identification and Classification of Members of the Group:
---------------------------------------------------------
Not Applicable
Item 9. Notice of Dissolution of Group:
------------------------------
Not Applicable
Item 10. Certification:
-------------
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were not
acquired and are not held for the purpose of or with the effect
of changing or influencing the control of the issuer of the
securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose
or effect.
Page 7 of 9
<PAGE>
Signature
---------
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: September ___, 1998
Triumph-Connecticut Limited Partnership
by Triumph-Connecticut Capital Advisors, L.P.
Its General Partner
By: /s/ Frederick W. McCarthy
--------------------------------
Frederick W. McCarthy
Its General Partner
Triumph-Connecticut Capital Advisors, L.P.
By: /s/ Frederick W. McCarthy
--------------------------------
Frederick W. McCarthy
Its General Partner
Triumph Capital Group, Inc.
By: /s/ Frederick W. McCarthy
--------------------------------
Frederick W. McCarthy
Its President
/s/ Frederick W. McCarthy
-------------------------------------
Frederick W. McCarthy
Page 8 of 9
<PAGE>
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934,
as amended, the undersigned agree to the joint filing on behalf of each of them
of a statement on Schedule 13G (including amendments thereto) with respect to
the Common Stock of Ascent Pediatrics, Inc. and further agree that this
agreement be included as an exhibit to such filing. Each party to the agreement
expressly authorizes each other party to file on its behalf any and all
amendments to such statement. Each party to this agreement agrees that this
joint filing agreement may be signed in counterparts.
In evidence whereof, the undersigned have caused this Agreement to be
executed on their behalf this ____ day of September, 1998.
Triumph-Connecticut Limited Partnership
by Triumph-Connecticut Capital Advisors, L.P.
Its General Partner
By: /s/ Frederick W. McCarthy
--------------------------------
Frederick W. McCarthy
Its General Partner
Triumph-Connecticut Capital Advisors, L.P.
By: /s/ Frederick W. McCarthy
--------------------------------
Frederick W. McCarthy
Its General Partner
Triumph Capital Group, Inc.
By: /s/ Frederick W. McCarthy
--------------------------------
Frederick W. McCarthy
Its President
/s/ Frederick W. McCarthy
-------------------------------------
Frederick W. McCarthy
Page 9 of 9
