UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G/A
(Amendment No. 3)*
Under the Securities Exchange Act of 1934
Immunomedics, Inc.
Common Stock, par value $.01 per share
(Title of Class of Securities)
February 14, 2003
(CUSIP Number: 452907108)
December 31, 2002
Date of event which requires filing
Check the appropriate box to designate the rule pursuant to which the schedule
is filed:
|_| Rule 13d-1(b)
|X| Rule 13d-1(c)
|_| Rule 13d-1(d)
*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 in the remainder of this cover page shall not be deemed
to be filled 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
to Schedule 13G).
Page 1 of 8
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CUSIP No. 452907108 13G Page 2 of 8 Pages
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1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lindsay A. Rosenwald, M.D.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |_|
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 5. SOLE VOTING POWER
SHARES 75,000
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BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 1,833,706
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EACH 7. SOLE DISPOSITIVE POWER
REPORTING 75,000
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PERSON 8. SHARED DISPOSITIVE POWER
WITH 1,833,706
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,833,706
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.9%
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12. TYPE OF REPORTING PERSON*
IN
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Page 2 of 8
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CUSIP No. 452907108 13G Page 3 of 8 Pages
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1. NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Paramount Capital Asset Management, Inc.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |_|
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5. SOLE VOTING POWER
SHARES None
-----------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 1,833,706
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EACH 7. SOLE DISPOSITIVE POWER
REPORTING None
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PERSON 8. SHARED DISPOSITIVE POWER
WITH 1,833,706
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,833,706
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.7%
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12. TYPE OF REPORTING PERSON*
CO
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Page 3 of 8
ITEM 1(a). NAME OF ISSUER:
Immunomedics, Inc.
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
300 American Road
Morris Plains, New Jersey 07950
ITEM 2(a) This statement is filed on behalf of Paramount Capital Asset
Management, Inc. ("Paramount Capital"), Aries Domestic Fund, L.P. ("Aries
Domestic"), Aries Domestic Fund II, L.P. ("Aries II"), Aries Master Fund II, a
Cayman Island exempted company ("Aries Fund") and Lindsay A. Rosenwald, M.D.
("Dr. Rosenwald" and collectively, the "Reporting Persons").
Dr. Rosenwald is an investment banker, venture capitalist, fund manager and sole
stockholder of Paramount Capital. Paramount Capital is the General Partner to
Aries Domestic and Aries II. Paramount Capital is the Investment Manager to
Aries Fund.
This statement relates to Shares (as defined herein) held for the accounts of
Aries Domestic, Aries II and Aries Fund.
ITEM 2(b) Address of Principal Business Office or, if None, Residence:
The address of the principal business office of Paramount Capital, Aries
Domestic, Aries II and Dr. Rosenwald is 787 Seventh Avenue, 48th Floor, New
York, New York, 10019. The address of the principal business office of Aries
Fund is c/o Fortis Fund Services Cayman Limited, Grand Pavilion Commercial
Center, 802 West Bay Road, Grand Cayman, Cayman Islands.
ITEM 2(c) Citizenship:
1) Paramount Capital is a Subchapter S corporation incorporated
in Delaware;
2) Aries Domestic is a Delaware limited partnership;
3) Aries II is a Delaware limited partnership;
4) Aries Fund is a Cayman Islands exempted company; and
5) Dr. Rosenwald is a citizen of the United States.
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
Common Stock, par value $0.01 per share.
ITEM 2(e). CUSIP NUMBER: 452907108
ITEM 3. |X| CHECK THIS BOX IF THIS STATEMENT IS FILED PURSUANT TO RULE
13d-1(c)
Page 4 of 8
ITEM 4(a). BENEFICIAL OWNERSHIP
Paramount Capital's beneficially owns 1,833,706 Shares as follows:
a) 1,026,454 shares of Common Stock owned directly by the Aries
Master Fund II; and
b) 676,710 shares of Common Stock owned directly by the Aries
Domestic Fund; and
c) 160,542 shares of Common Stock owned directly by the Aries
Domestic Fund II.
Dr. Rosenwald may be deemed to beneficially own 1,958,706 Shares as
follows:
a) 75,000 shares of Investment Common Stock owned directly by Dr.
Rosenwald;
a) 1,026,454 shares of Common Stock owned directly by the Aries
Master Fund II; and
b) 676,710 shares of Common Stock owned directly by the Aries
Domestic Fund; and
c) 160,542 shares of Common Stock owned directly by the Aries
Domestic Fund II.
ITEM 4(b) PERCENT OF CLASS
(i) The number of Shares of which each of Paramount Capital may be
deemed to be the beneficial owner constitutes approximately 3.70% of the total
number of Shares outstanding.
(ii) The number of Shares of which Dr. Rosenwald may be deemed to be
the beneficial owner constitutes approximately 3.93% of the total number of
Shares outstanding.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
Not applicable
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
(i) Dr. Rosenwald, as the shareholder of Paramount Capital, has the
right to participate in the receipt of dividends from, or proceeds from the sale
of, Shares held by Paramount Capital in accordance with his ownership interests
in Paramount Capital.
(ii) The partners of Aries Domestic have the right to participate in
the receipt of dividends from, or proceeds from the sale of, the securities held
for the account of Aries Domestic in accordance with their partnership interests
in Aries Domestic.
(iii) The partners of Aries II have the right to participate in the
receipt of dividends from, or proceeds from the sale of, the securities held for
the account of Aries Domestic in accordance with their partnership interests in
Aries II.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
Not Applicable
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
Not Applicable
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not Applicable
Page 5 of 8
ITEM 10. CERTIFICATION
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were not
acquired and are not held in connection with or as a participant in
a transaction having that purpose and effect.
Page 6 of 8
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
PARAMOUNT CAPITAL ASSET MANAGEMENT, INC.
Dated: February 14, 2003
New York, NY By: /s/ Lindsay A. Rosenwald
-------------------------------------
Name: Lindsay A. Rosenwald, M.D.
Title: Chairman
ARIES DOMESTIC FUND, L.P.
By Paramount Capital Asset Management,
Inc.,
General Partner
Dated: February 14, 2003
New York, NY By: /s/ Lindsay A. Rosenwald
-------------------------------------
Name: Lindsay A. Rosenwald, M.D.
Title: Chairman
ARIES DOMESTIC FUND, II L.P.
By Paramount Capital Asset Management,
Inc.,
General Partner
Dated: February 14, 2003
New York, NY By: /s/ Lindsay A. Rosenwald
-------------------------------------
Name: Lindsay A. Rosenwald, M.D.
Title: Chairman
THE ARIES MASTER FUND II
By Paramount Capital Asset Management,
Inc.
Investment Manager
Dated: February 14, 2003
New York, NY By: /s/ Lindsay A. Rosenwald
-------------------------------------
Name: Lindsay A. Rosenwald, M.D.
Title: Chairman
Dated: February 14, 2003
New York, NY By: /s/ Lindsay A. Rosenwald
-------------------------------------
Name: Lindsay A. Rosenwald, M.D.
Page 7 of 8
EXHIBIT A
AGREEMENT
JOINT FILING OF SCHEDULE 13G
The undersigned hereby agrees to jointly prepare and file with regulatory
authorities a Schedule 13G and any future amendments thereto reporting each of
the undersigned's ownership of securities of Immunomedics, Inc. and hereby
affirm that such Schedule 13G is being filed on behalf of each of the
undersigned.
PARAMOUNT CAPITAL ASSET MANAGEMENT, INC.
Dated: February 14, 2003
New York, NY By: /s/ Lindsay A. Rosenwald
-------------------------------------
Name: Lindsay A. Rosenwald, M.D.
Title: Chairman
ARIES DOMESTIC FUND, L.P.
By Paramount Capital Asset Management,
Inc.,
General Partner
Dated: February 14, 2003
New York, NY By: /s/ Lindsay A. Rosenwald
-------------------------------------
Name: Lindsay A. Rosenwald, M.D.
Title: Chairman
ARIES DOMESTIC FUND, II L.P.
By Paramount Capital Asset Management,
Inc.,
General Partner
Dated: February 14, 2003
New York, NY By: /s/ Lindsay A. Rosenwald
-------------------------------------
Name: Lindsay A. Rosenwald, M.D.
Title: Chairman
THE ARIES MASTER FUND II
By Paramount Capital Asset Management,
Inc.
Investment Manager
Dated: February 14, 2003
New York, NY By: /s/ Lindsay A. Rosenwald
-------------------------------------
Name: Lindsay A. Rosenwald, M.D.
Title: Chairman
Dated: February 14, 2003
New York, NY By: /s/ Lindsay A. Rosenwald
-------------------------------------
Name: Lindsay A. Rosenwald, M.D.
Page 8 of 8