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FORM 4 OMB APPROVAL
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OMB Number 3235-0287
Expires: September 30, 1998
Estimated average burden
hours per response ....... 0.5
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U.S. 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
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Stagnaro, Thomas
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(Last) (First) (Middle)
InKine Pharmaceutical Company, Inc.
Sentry Park East
1720 Walton Road
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(Street)
Blue Bell, Pennsylvania 19422
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
InKine Pharmaceutical Company, Inc. (INKP)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
4/98
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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)
[ X ] Director [ ] 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 I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF,
OR BENEFICIALLY OWNED
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<TABLE>
<CAPTION>
4. 5. 6.
Securities Acquired (A) or Amount of Owner-
3. Disposed of (D) Securities ship 7.
Transaction (Instr. 3, 4 and 5) Beneficially Form: Nature of
2. Code ------------------------------- Owned at End Direct Indirect
1. Transaction (Instr. 8) (A) of Month (D) or Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 Indirect Ownership
(Instr. 3) (month/day/year) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 4/15/98 P 2,000 A $1.4345 2,000 D
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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).
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FORM 4 (continued)
Table II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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<TABLE>
<CAPTION>
9.
Number 10.
of Owner-
Deriv- ship of
5. 7. ative Deriv- 11.
Number of Title and Amount Secur- ative Nature
2. Derivative 6. of Underlying 8. ities Secur- of
Conver- Securities Date Securities Price Bene- ity: In-
sion of 3. 4. Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Exercise Trans- Trans- or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. Price action action of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of of Date Code (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative Deriv- (Month/ (Instr. 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security ative Day/ -------- ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) Security Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Explanation of Responses:
/s/ THOMAS STAGNARO 5/7/98
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**SIGNATURE OF REPORTING PERSON DATE
THOMAS STAGNARO
** 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 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.
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SEC 1474 (7-96)
