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FORM 3 OMB APPROVAL
OMB NUMBER 3235-0104
EXPIRES: SEPTEMBER 30, 1998
ESTIMATED AVERAGE
BURDEN HOURS PER
RESPONSE.....0.5
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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)
1. Name and Address of Reporting Person
Ratoff, Steven B.
(Last) (First) (Middle)
c/o InKine Pharmaceutical Company, Inc.
Sentry Park East, 1720 Walton Road
(Street)
Blue Bell, PA 19422
(City) (State) (Zip)
2. Date of Event Requiring Statement
(Month/Day/Year)
2/2/98
3. IRS or Social Security
Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
InKine Pharmaceutical Company, Inc. (INKP)
5. Relationship of Reporting Person to Issuer
(Check all applicable)
X Director ____ 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
TABLE I - NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
<TABLE>
<CAPTION>
1. Title of Security 2. Amount of 3. Ownership 4. Nature of Indirect
(Instr. 4) Securities Form: Beneficial Ownership
Beneficially Direct (D) (Instr. 5)
Owned (Instr. 4) or Indirect
(I) (Instr. 5)
<S> <C> <C> <C>
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None
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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 5(b)(v).
(Over)
SEC 1473 (7-96)
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FORM 3 (continued) TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED (E.G.,
PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<TABLE>
<CAPTION>
1. Title of Derivative Security 2. Date Exercisable 3. Title and Amount of
(Instr. 4) and Expiration Securities Underlying
Date Derivative Security
(Month/Day/Year) (Instr. 4)
Amount
Date Exer- Expira- or Number
cisable tion Title of
Date Shares
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<S> <C> <C> <C> <C>
Stock Option (Right to Buy) * 1/29/08 Common Stock 37,500
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</TABLE>
<TABLE>
<CAPTION>
4. Conversion or 5. Ownership 6. Nature of
Exercise Price Form of Indirect
of Derivative Derivative Beneficial
Security Security: Ownership
Direct (D) (Instr. 5)
or Indirect (I)
(Instr. 5)
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<S> <C> <C>
$1.00 D
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</TABLE>
Explanation of Responses:
* Option became exerciseable as to 7,500 shares on January 29, 1998. It
will become exerciseable with respect to the balance of the shares in
annual increments of 7,500 shares commencing on January 29, 1999.
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/ STEVEN B. RATOFF 2/9/98
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** Signature of Reporting Person Date
Steven B. Ratoff
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
Page 2
SEC 1473 (7-96)
<PAGE> 3
POWER OF ATTORNEY
Know all men by these presents, that the undersigned hereby constitutes
and appoints Robert F. Apple, the undersigned's true and lawful attorney-in-fact
to:
1. execute for an on behalf of the undersigned, in the
undersigned's capacity as a director of InKine Pharmaceutical Company, Inc. (the
"Company"), Forms 3, 4 and 5 in accordance with Section 16(a) of the Securities
Exchange Act of 1934 and the rules and regulations thereunder;
2. do and perform any and all acts for and on behalf of the
undersigned which may be necessary or desirable to complete and execute any such
Form 3, 4, or 5 and timely file such form with the United States Securities and
Exchange Commission and any stock exchange or similar authority; and
3. take any other action of any type whatsoever in connection
with the foregoing which, in the opinion of such attorney-in-fact, may be of
benefit to, and in the best interest of, or legally required by, the
undersigned.
The undersigned hereby grants to such attorney-in-fact full power and
authority to do and perform any and every act and thing whatsoever requisite,
necessary, or proper to be done in the exercise of any of the rights and powers
herein granted, as fully to all intents and purposes as the undersigned might or
could do if personally present, with full power of substitution or revocation,
hereby ratifying and confirming all that such attorney-in-fact, or such
attorney-in-fact's substitute or substitutes, shall lawfully do or cause to be
done by virtue of this power of attorney and the rights and powers herein
granted. The undersigned acknowledges that the foregoing attorney-in-fact, in
serving in such capacity at the request of the undersigned, is not assuming, nor
is the Company assuming, any of the undersigned's responsibilities to comply
with Section 16 of the Securities Exchange Act of 1934.
This Power of Attorney shall remain in full force and effect until the
undersigned is no longer required to file Forms 3, 4 and 5 with respect to the
undersigned's holdings of and transactions in securities issued by the Company,
unless earlier revoked by the undersigned in a signed writing delivered to the
foregoing attorney-in-fact.
IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney
to be executed as of this 9th day of February, 1998.
/s/ Steven B. Ratoff
Steven B. Ratoff
