SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________________________________
SCHEDULE 13D/A1 (Amendment No. 1)
Under the Securities Exchange Act of 1934
Curis, Inc.
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(Name of Issuer)
Common Stock, $0.01 par value
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(Title of Class of Securities)
231269101
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(CUSIP Number)
William F. Daniel
Elan Corporation, plc
Lincoln House
Lincoln Place
Dublin 2, Ireland
(353) 1-709-4000
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
January 26, 2004
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box [ ].
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 240.13d-7 for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 13
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CUSIP No. 231269101
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(1) NAME OF REPORTING PERSONS
Elan Corporation, plc
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
N/A
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a) [ ]
(b) [ ]
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS WC, OO
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(5) CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Ireland
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Number of (7) SOLE VOTING POWER
Shares 2,568,624
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Beneficially (8) SHARED VOTING POWER
Owned None
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by Each (9) SOLE DISPOSITIVE POWER
Reporting 2,568,624
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Person With (10) SHARED DISPOSITIVE POWER
None
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,568,624
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(12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
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(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.3% (based on 40,460,991 shares of Common Stock outstanding
on December 22, 2003, as reported in a Registration Statement
on Form S-3 filed by the Issuer on December 23, 2003, plus
312,794 shares of Common Stock issuable upon conversion of
the Amended and Restated Note and 50,000 shares of Common
Stock issuable upon exercise of the Warrant)
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(14) TYPE OF REPORTING PERSON CO
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Item 1. Security and Issuer.
Item 1 of Schedule 13D is hereby amended and restated in its entirety as
follows:
This Amendment No. 1 amends Schedule 13D filed with the Securities and
Exchange Commission on June 4, 2003 by Elan Corporation, plc, an Irish public
limited company, with respect
Page 2 of 13
to the Common Stock, $0.01 par value, of Curis, Inc. (the "Issuer"), a Delaware
corporation whose principal offices are located at 61 Mouton Street, Cambridge,
Massachusetts, 02138.
Item 2. Identity and Background.
Item 2 of Schedule 13D is hereby amended and restated in its entirety as
follows:
This Schedule 13D is filed by Elan Corporation, plc. Elan Corporation,
plc's principal place of business is Lincoln House, Lincoln Place Dublin 2,
Ireland. Elan Corporation, plc is a worldwide pharmaceutical company.
For the purposes of this Schedule 13D, Elan Corporation, plc and its
subsidiaries are referred to as "Elan."
Schedule A to this Schedule 13D sets forth the (a) name, (b) residence or
business address, (c) present principal occupation or employment and the name,
principal business and address of any corporation or other organization in which
such employment is conducted and (d) the citizenship or place of organization of
each executive officer, director and controlling person of Elan.
During the last five years, neither Elan nor any person identified on
Schedule A to this Schedule 13D: (i) has been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors); or (ii) was a party to a
civil proceeding of a judicial or administrative body of competent jurisdiction,
as a result of which proceeding it was or is subject to a judgment, decree or
final order enjoining future violations of, or prohibiting or mandating
activities subject to, United States federal or state securities laws, or
finding any violation with respect to such laws.
Item 4. Purpose of the Transaction.
Item 4 of Schedule 13D is hereby amended and restated in its entirety as
follows:
Elan acquired the securities pursuant to the Purchase Agreement for the
purpose of making an investment in the Company and in connection with the
Termination Agreement.
The Amended and Restated Note is convertible into common stock at the
option of Elan at a conversion price of $10.00 per share, subject to customary
antidilution adjustments. The number of shares of Common Stock into which the
Amended and Restated Note may be converted is based upon the quotient obtained
by dividing the outstanding principal (including capitalized interest) plus
accrued and unpaid interest on the date of conversion by $10.00, subject to
customary antidilution adjustments.
The Warrant is exercisable for 50,000 shares of Common Stock at an exercise
price of $10.46, subject to customary antidilution adjustments.
The Issuer has granted to Elan certain registration rights for the shares
of Common Stock held by Elan and for the shares of Common Stock issuable upon
conversion of the Amended and Restated Promissory Note and upon exercise of the
Warrant.
Elan and the Issuer have agreed that for so long as EIS owns at least 5% of
the shares of Common Stock and/or common stock equivalents of the Issuer,
subject to the requirements of the
Page 3 of 13
General Corporation Law of the State of Delaware, EIS will have the right (which
right is assignable by EIS and its assignees and transferees) to elect a
representative to the vacancy on the Issuer's Board of Directors (the "Issuer
Board"), which representative must be reasonably acceptable to the Issuer (such
approval not to be unreasonably withheld or delayed), and, if no vacancy shall
exist on the Issuer Board, upon the request of EIS, the Issuer Board will create
a new directorship on the Issuer Board.
Elan has a present intention to sell up to 2,205,830 million additional
shares of the Common Stock from time to time in open market transactions,
subject to market conditions. Elan expects to evaluate its investment in the
Issuer on an ongoing basis and Elan may determine to change its investment
intent with respect to the Issuer at any time in the future. In determining from
time to time whether to sell or to retain its holdings of remaining securities
of the Issuer, Elan will take into consideration such factors as it deems
relevant, including the market price of the Common Stock, conditions in the
securities markets generally, the Issuer's financial condition, business and
prospects and general economic conditions. Elan reserves the right to dispose of
all or a portion of its holdings of securities of the Issuer in public or
private transactions and/or to enter into privately negotiated derivative
transactions with institutional counterparties to hedge the market risk of some
or all of its position in the securities of the Issuer. Any such transaction may
be effected at any time or from time to time.
Other than as set forth above, Elan has no present plans or intentions
which would result in or relate to any of the transactions described in
subparagraphs (a) through (j) of Item 4 of Schedule 13D.
The foregoing descriptions of the Purchase Agreement and the Termination
Agreement do not purport to be complete and are qualified in their entirety by
reference to the full text thereof. The Purchase Agreement and the Termination
Agreement are incorporated by reference herein.
Item 5. Interest in Securities of Issuer.
Item 5 of Schedule 13D is hereby amended and restated in its entirety as
follows:
(a) Elan is the beneficial owner of 2,568,624 shares of Common Stock,
including 312,794 shares of Common Stock issuable upon conversion of the Amended
and Restated Note and 50,000 shares of Common Stock issuable upon exercise of
the Warrant, representing 6.3% of the outstanding shares of Common Stock (based
on 40,460,991 shares of Common Stock outstanding on December 22, 2003, as
reported in a Registration Statement on Form S-3 filed by the Issuer on December
23, 2003, plus 312,794 shares of Common Stock issuable upon conversion of the
Amended and Restated Note and 50,000 shares of Common Stock issuable upon
exercise of the Warrant).
(b) Elan has the sole voting and dispositive power over 2,568,624 shares of
Common Stock, including 312,794 shares of Common Stock issuable upon conversion
of the Amended and Restated Noted and 50,000 shares of Common Stock issuable
upon exercise of the Warrant.
(c) From January 21, 2004 through January 28, 2004 Elan sold an aggregate
of 1,219,400 shares of Common Stock in open market transactions as listed below:
Page 4 of 13
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Date of Sale Amount Price Per Share
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1/21/04 400 $6.39
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1/21/04 800 $6.37
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1/21/04 500 $6.36
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1/21/04 1,200 $6.33
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1/21/04 600 $6.32
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1/21/04 1,100 $6.31
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1/21/04 900 $6.30
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1/21/04 5,000 $6.20
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1/21/04 1,800 $6.19
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1/21/04 5,100 $6.18
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1/21/04 10,900 $6.17
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1/21/04 11,800 $6.16
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1/21/04 8,400 $6.15
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1/21/04 6,100 $6.14
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1/21/04 6,800 $6.13
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1/21/04 2,300 $6.12
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1/21/04 3,300 $6.10
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1/22/04 2,900 $6.27
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1/22/04 100 $6.19
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1/22/04 100 $6.16
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1/22/04 3,100 $6.15
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1/22/04 2,900 $6.14
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1/22/04 1,400 $6.13
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Page 5 of 13
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Date of Sale Amount Price Per Share
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1/22/04 4,400 $6.12
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1/22/04 7,500 $6.11
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1/22/04 5,000 $6.10
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1/22/04 6,600 $6.05
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1/22/04 18,200 $6.04
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1/22/04 21,200 $6.03
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1/22/04 3,500 $6.02
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1/22/04 800 $6.013
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1/22/04 4,600 $6.01
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1/22/04 43,100 $6.00
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1/23/04 4,100 $6.01
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1/23/04 2,400 $6.00
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1/23/04 5,000 $5.95
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1/23/04 300 $5.92
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1/23/04 600 $5.91
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1/23/04 3,300 $5.90
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1/23/04 3,100 $5.89
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1/23/04 9,800 $5.88
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1/23/04 16,600 $5.87
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1/23/04 5,300 $5.86
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1/23/04 300 $5.853
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1/23/04 28,600 $5.85
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1/23/04 11,300 $5.84
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Page 6 of 13
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Date of Sale Amount Price Per Share
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1/23/04 2,900 $5.83
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1/23/04 5,200 $5.82
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1/23/04 300 $5.814
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1/23/04 3,500 $5.81
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1/23/04 9,700 $5.80
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1/23/04 1,800 $5.77
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1/23/04 4,700 $5.76
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1/23/04 88,200 $5.75
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1/26/04 5,400 $5.90
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1/26/04 6,000 $5.87
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1/26/04 6,700 $5.86
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1/26/04 25,000 $5.85
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1/26/04 2,000 $5.80
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1/26/04 29,900 $5.77
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1/26/04 43,000 $5.76
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1/26/04 72,000 $5.75
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1/27/04 2,500 $6.10
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1/27/04 2,100 $6.09
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1/27/04 31,200 $6.08
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1/27/04 3,400 $6.07
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1/27/04 700 $6.063
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1/27/04 1,200 $6.062
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1/27/04 10,000 $6.06
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Page 7 of 13
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Date of Sale Amount Price Per Share
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1/27/04 2,400 $6.05
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1/27/04 2,200 $6.04
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1/27/04 14,600 $6.03
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1/27/04 2,400 $6.02
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1/27/04 4,200 $6.01
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1/27/04 1,000 $6.003
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1/27/04 40,900 $6.00
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1/27/04 1,100 $5.99
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1/27/04 102,900 $5.98
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1/27/04 6,600 $5.97
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1/27/04 500 $5.96
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1/27/04 800 $5.95
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1/27/04 224,300 $5.94
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1/27/04 100 $5.93
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1/27/04 1,700 $5.92
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1/27/04 4,700 $5.91
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1/27/04 600 $5.903
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1/27/04 10,900 $5.90
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1/27/04 10,500 $5.89
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1/27/04 100 $5.883
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1/27/04 3,900 $5.88
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1/27/04 2,300 $5.87
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1/27/04 1,100 $5.863
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Page 8 of 13
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Date of Sale Amount Price Per Share
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1/27/04 4,900 $5.86
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1/27/04 2,900 $5.85
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1/27/04 300 $5.83
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1/27/04 1,000 $5.82
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1/28/04 700 $6.06
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1/28/04 300 $6.05
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1/28/04 3,500 $6.04
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1/28/04 5,700 $6.03
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1/28/04 200 $6.02
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1/28/04 10,300 $6.01
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1/28/04 17,300 $6.00
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1/28/04 400 $5.99
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1/28/04 4,100 $5.98
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1/28/04 300 $5.973
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1/28/04 1,700 $5.97
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1/28/04 600 $5.963
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1/28/04 1,300 $5.96
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1/28/04 2,200 $5.95
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1/28/04 23,400 $5.94
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1/28/04 400 $5.936
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1/28/04 300 $5.934
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1/28/04 6,900 $5.93
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1/28/04 300 $5.92
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Page 9 of 13
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Date of Sale Amount Price Per Share
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1/28/04 1,700 $5.91
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1/28/04 2,300 $5.90
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1/28/04 33,900 $5.88
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1/28/04 1,900 $5.85
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1/28/04 1,000 $5.84
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1/28/04 800 $5.83
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1/28/04 1,200 $5.82
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1/28/04 1,700 $5.803
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1/28/04 5,600 $5.80
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(d) N/A
(e) N/A
Page 10 of 13
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Date: January 29, 2004
ELAN CORPORATION, PLC
By: /s/ William F. Daniel
-----------------------------------
Name: William F. Daniel
Title: Executive Vice President and
Secretary
Page 11 of 13
SCHEDULE A
The (a) name, (b) business address, (c) present principal occupation or
employment and the name, principal business and address of any corporation or
other organization in which such employment is conducted and (d) citizenship of
each executive officer and director (other than Messrs. Armen, Boushel, Crowley,
Gillespie, Groom, McGowan, McIntyre, McLaughlin, Selkoe, Thornburgh and Tully
and Ms. Gray) of Elan are set forth below:
1. (a) G. Kelly Martin, (b) 345 Park Avenue, New York, New York 10154, (c)
President and Chief Executive Officer, and (d) United States.
2. (a) Shane Cooke, (b) Lincoln House, Lincoln Place, Dublin 2, Ireland, (c)
Executive Vice President and Chief Financial Officer, and (d) Ireland.
3. (a) William F. Daniel (b) Lincoln House, Lincoln Place, Dublin 2, Ireland,
(c) Executive Vice President and Company Secretary, and (d) Ireland.
4. (a) Jean Duvall, (b) 800 Gateway Blvd., South San Francisco, CA 94080, (c)
Executive Vice President and General Counsel, and (d) United States.
The (a) name, (b) business address, (c) present principal occupation or
employment and the name, principal business and address of any corporation or
other organization in which such employment is conducted and (d) citizenship of
each director (other than Messrs. Martin and Daniel) of Elan are set forth
below:
1. (a) Garo A. Armen, Ph.D., (b) 630 Fifth Avenue, Suite 2167, New York, New
York 10111, (c) Chairman of the Board and Chief Executive Officer of
Antigenics, Inc., and (d) United States.
2. (a) Brendan E. Boushel, (b) 9 Upper Mount Street, Dublin 2, Ireland, (c)
Retired, and (d) Ireland.
3. (a) Laurence G. Crowley, (b) c/o Elan Corporation, plc, Lincoln House,
Lincoln Place, Dublin 2, Ireland, (c) Governor (Chairman) Bank of Ireland,
and (d) Ireland.
4. (a) Alan R. Gillespie, Ph.D., (b) c/o Elan Corporation, plc, Lincoln House,
Lincoln Place, Dublin 2, Ireland, (c) Chairman, Ulster Bank Limited, and
(d) United Kingdom.
5. (a) Ann Maynard Gray, (b) c/o Elan Corporation, plc, Lincoln House, Lincoln
Place, Dublin 2, Ireland, (c) Retired, and (d) United Kingdom.
6. (a) John Groom, (b) c/o Elan Corporation, plc, Lincoln House, Lincoln
Place, Dublin 2, Ireland, (c) Retired, and (d) United Kingdom.
7. (a) Kieran McGowan, (b) c/o Elan Corporation, plc, Lincoln House, Lincoln
Place Dublin 2, Ireland, (c) Retired, and (d) Ireland.
8. (a) Kevin McIntyre, M.D., (b) c/o Elan Corporation, plc, Lincoln House,
Lincoln Place, Dublin 2, Ireland, (c) Associate Clinical Professor of
Medicine at Harvard Medical School, and (d) United States.
9. (a) Kyran McLaughlin, (b) Davy House, 49 Dawson Street, Dublin 2, Ireland,
(c) Head of Equities and Corporate Finance, Davy Stockbrokers, and (d)
Ireland.
Page 12 of 13
10. (a) Dennis J. Selkoe, M.D., (b) c/o Elan Corporation, plc, Lincoln House,
Lincoln Place, Dublin 2, Ireland, (c) Professor of Neurology and
Neuroscience at Harvard Medical School, and (d) United States.
11. (a) Richard L. Thornburgh, (b) c/o Elan Corporation, plc, Lincoln House,
Lincoln Place, Dublin 2, Ireland, (c) Counsel to the law firm of
Kirkpatrick & Lockhart LLP, and (d) United States.
12. (a) Daniel P. Tully, (b) c/o Elan Corporation, plc, Lincoln House, Lincoln
Place, Dublin 2, Ireland, (c) Retired, and (d) United States.
Page 13 of 13