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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 5
ANNUAL 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).
[X] Form 3 Transactions Reported
[_] Form 4 Transactions Reported
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1. Name and Address of Reporting Person*
Power Richard D.
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(Last) (First) (Middle)
The Sage Group, 245 Rt. 22 West, Suite 304
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(Street)
Bridgewater, New Jersey 08807
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Discovery Laboratories, Inc. (DSCO)
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3. IRS Identification Number of Reporting Person, if an entity (Voluntary)
________________________________________________________________________________
4. Statement for Month/Year
December 31, 1999
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5. If Amendment, Date of Original (Month/Year)
________________________________________________________________________________
6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[X] Director [_] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
____________________
________________________________________________________________________________
7. Individual or Joint/Group Reporting
(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>
5.
Amount of 6.
4. Securities Owner-
Securities Acquired (A) or Beneficially ship
Disposed of (D) Owned at the Form: 7.
(Instr. 3, 4 and 5) End of Direct Nature of
2. 3. ----------------------------- Issuer's (D) or Indirect
1. Transaction Transaction (A) Fiscal Year Indirect Beneficial
Title of Security Date (Month/ Code Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) Day/Year) (Instr. 8) (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 13,900 D N/A
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Common Stock 6/16/1998 J(1) 19,500 78,000 I By
Partnership
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</TABLE>
* If the form is filed by more than one Reporting Person, see Instruction
4(b)(v).
<PAGE>
FORM 5 (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. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- Securities Date Securities Price Bene- ity: In-
cise 3. Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- 4. or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Trans- of (D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date action (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ Code 4 and 5) Date Expira- Number ity Year (I) ship
Security Secur- Day/ (Instr. ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) 8) (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>
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Stock Option $0.81 6/28/1999 M(2) (A) 6/28/1999 6/28/2009 Common 10,000 20,000(1) I By
(right to buy) Stock Partnership
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4,368 D N/A
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Explanation of Responses:
1. The reporting person owned 19,500 shares of common stock on June 16, 1998, the date on which the reporting person
became a director of the Issuer.
2. Director automatic option grant - vests one year from grant date.
</TABLE>
/s/Richard D. Power February 10, 2000
By: ---------------------------------------- -----------------------
**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.
