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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN 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(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Incentive Stock Option (Right to Buy) | $ 1.47 | 02/22/2007 | A | 68,027 | (1) | 02/21/2017 | Common Stock | 68,027 | $ 0 | 68,027 | D | ||||
Non-qualified Stock Option (Right to Buy) | $ 1.47 | 02/22/2007 | A | 598,973 | (1) | 02/21/2007 | Common Stock | 598,973 | $ 0 | 598,973 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
ZODDA DENI M PHD 25 MINNEAKONING ROAD FLEMINGTON, NJ 08822 |
SVP, Chief Business Officer |
Deni M. Zodda | 02/26/2007 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | The options reported on this Form 4 shall vest in the following manner: (1) 22,676 incentive stock options and 200,324 non-qualified stock options will vest on the signing of a Board of Director approved third party agreement for U.S. or world wide rights of sumatriptan; (2) 22,676 incentive stock options and 199,324 non-qualified stock options will vest on the signing of a Board of Director approved third party agreement for U.S. or world wide rights of zolpidem; and (3) 22,675 incentive stock options and 199,325 non-qualified stock options will vest upon approval by the Board of Directors of any third party agreement whereby the Company obtains the right to develop a product incorporating an active pharmaceutical ingredient (API) that is the subject of a then valid United States Patent (or in-process United States Patent Application) and already approved for sale by the United States Food and Drug Administration with sales in the United States of at least $100 million. |