U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
/ / Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See
Instruction 1(b).
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
1. Name and Address of Reporting Person (If the form is filed
by more than one reporting person, see Instruction 4(b)(v).)
Power, Richard D.
(Last) (First) (Middle)
The Sage Group, 245 Rte. 22 West, Suite 304
(Street)
Bridgewater NJ 08807
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Discovery Laboratories,Inc. (Discovery)
DSCO
3. IRS or Social Security Number of Reporting Person
(Voluntary)
4. Statement for
(Month/Year)
03/2000
5. If Amendment, Date of Original
(Month/Year)
6. Relationship of Reporting Person to Issuer
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(Check all applicable)
X Director 10% Owner
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Officer (give title Other (specify
------- below) ------- below)
Chief Executive Officer
7. Individual or Joint/Group filing (Check Applicable Line)
X Form filed by One Reporting Person
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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
1. Title of 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Ownership 7. Nature of
Security action action or Disposed of (D) Securities Form: Indirect
(Instr.3) Date Code (Instr. 3, 4 and 5) Beneficial- Direct (D) Beneficial
(Month/ (Instr.8) ly Owned at or Ownership
Date/ ---------------------------------------------- End of Indirect
Year) Code V Amount (A) Price Month (I) (Instr. 4)
or
(D) (Inst. 3 (Instr. 4)
and 4)
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<S> <C> <C> <C> <C> <C> <C> <C>
Common Stock 03/22/00 P 3,077 A $6.50 (1) 16,997 D
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Common Stock 78,000 I By
Partnership
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</TABLE>
(1) Represents the purchase price of Units offered in a private placement (each
Unit consists of 76,923 shares of Common Stock and 15,385 Class E Warrants)
divided by the number of shares of Common Stock included in the Units.
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TABLE II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
----
1. Title of 2. Conver- 3. Trans- 4. Transaction 5. Number of Deriv- 6. Date Exercisable and
Derivative sion or action Code ative Securities Expiration Date
Security Exercise Date Acquired (A) or (Month/Day/Year)
(Instr. 3) Price of (Instr. 8) Disposed of (D)
Deri- (Month/
vative Day/ (Instr. 3, 4,
Security Year) and 5)
-------------------------------------------------------------------------
Code V (A) (D) Date Exer- Expiration
cisable Date
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Class E $7.375 03/22/00 A 615 Immediately 03/21/05
Warrant (right
to purchase)
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- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
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<TABLE>
<CAPTION>
1. Title of 7. Title and Amount of 8. Price of 9. Number of 10.Ownership 11. Nature of
Derivative Underlying Securities Derivative Derivative Form of Deri- Indirect Bene-
Security Security Securities vative Sec- ficial Owner-
(Instr. 3) (Instr.3 and 4) Beneficially urity: Direct ship (Instr.
-------------------------- (Instr. 5) Owned at End (D) or 4)
Title Amount or of Month Indirect (I)
Number of
Shares (Instr. 4) (Instr. 4)
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Class E Common Stock, 615 (2) 615 D
Warrant (right par value
to purchase) $.001 per
share
</TABLE>
Explanation of Responses:
(2) The Class E Warrants were acquired as part of a Unit in a private placement.
See footnote 1.
By: s/Richard D. Power May 22, 2000
**Signature of Reporting Person Date
** 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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