1 |
NAMES
OF REPORTING PERSONS
| ||||
I.R.S.
IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
| |||||
EFFICACY CAPITAL, LTD. | |||||
2 |
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
| (a) | o | ||
(b) | x | ||||
3 |
SEC
USE ONLY
| ||||
4 |
SOURCE
OF FUNDS
| ||||
WC | |||||
5 |
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(e)
or 2(f)
| o | |||
6 |
CITIZENSHIP
OR PLACE OF ORGANIZATION
| ||||
BERMUDA | |||||
NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
| 7 |
SOLE
VOTING POWER
| |||
7,516,219 shares | |||||
8 |
SHARED
VOTING POWER
| ||||
0 shares | |||||
9 |
SOLE
DISPOSITIVE POWER
| ||||
7,516,219 shares | |||||
10 |
SHARED
DISPOSITIVE POWER
| ||||
0 shares | |||||
11 |
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| ||||
7,516,219 shares | |||||
12 |
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
| o | |||
13 |
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
| ||||
12.57%
| |||||
14 |
TYPE
OF REPORTING PERSON
| ||||
OO | |||||
1 |
NAMES
OF REPORTING PERSONS
| ||||
I.R.S.
IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
| |||||
EFFICACY BIOTECH FUND L.P. | |||||
2 |
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
| (a) | o | ||
(b) | x | ||||
3 |
SEC
USE ONLY
| ||||
4 |
SOURCE
OF FUNDS
| ||||
WC | |||||
5 |
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(e)
or 2(f)
| o | |||
6 |
CITIZENSHIP
OR PLACE OF ORGANIZATION
| ||||
DELAWARE, USA | |||||
NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
| 7 |
SOLE
VOTING POWER
| |||
0 | |||||
8 |
SHARED
VOTING POWER
| ||||
7,516,219 shares | |||||
9 |
SOLE
DISPOSITIVE POWER
| ||||
0 | |||||
10 |
SHARED
DISPOSITIVE POWER
| ||||
7,516,219 shares | |||||
11 |
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| ||||
7,516,219 shares | |||||
12 |
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
| o | |||
13 |
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
| ||||
12.57%
| |||||
14 |
TYPE
OF REPORTING PERSON
| ||||
PN | |||||
1 |
NAMES
OF REPORTING PERSONS
| ||||
I.R.S.
IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
| |||||
EFFICACY BIOTECH FUND LTD. | |||||
2 |
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
| (a) | o | ||
(b) | x | ||||
3 |
SEC
USE ONLY
| ||||
4 |
SOURCE
OF FUNDS
| ||||
WC | |||||
5 |
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(e)
or 2(f)
| o | |||
6 |
CITIZENSHIP
OR PLACE OF ORGANIZATION
| ||||
BERMUDA | |||||
NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
| 7 |
SOLE
VOTING POWER
| |||
0 shares | |||||
8 |
SHARED
VOTING POWER
| ||||
7,516,219 shares | |||||
9 |
SOLE
DISPOSITIVE POWER
| ||||
0 shares | |||||
10 |
SHARED
DISPOSITIVE POWER
| ||||
7,516,219 shares | |||||
11 |
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| ||||
7,516,219 shares | |||||
12 |
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
| o | |||
13 |
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
| ||||
12.57%
| |||||
14 |
TYPE
OF REPORTING PERSON
| ||||
OO | |||||
1 |
NAMES
OF REPORTING PERSONS
| ||||
I.R.S.
IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
| |||||
EFFICACY BIOTECH MASTER FUND LTD. | |||||
2 |
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
| (a) | o | ||
(b) | x | ||||
3 |
SEC
USE ONLY
| ||||
4 |
SOURCE
OF FUNDS
| ||||
WC | |||||
5 |
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(e)
or 2(f)
| o | |||
6 |
CITIZENSHIP
OR PLACE OF ORGANIZATION
| ||||
BERMUDA | |||||
NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
| 7 |
SOLE
VOTING POWER
| |||
0 shares | |||||
8 |
SHARED
VOTING POWER
| ||||
7,516,219 shares | |||||
9 |
SOLE
DISPOSITIVE POWER
| ||||
0 shares | |||||
10 |
SHARED
DISPOSITIVE POWER
| ||||
7,516,219 shares | |||||
11 |
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| ||||
7,516,219 shares | |||||
12 |
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
| o | |||
13 |
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
| ||||
12.57%
| |||||
14 |
TYPE
OF REPORTING PERSON
| ||||
OO | |||||
1 |
NAMES
OF REPORTING PERSONS
| ||||
I.R.S.
IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
| |||||
MARK LAPPE | |||||
2 |
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
| (a) | o | ||
(b) | x | ||||
3 |
SEC
USE ONLY
| ||||
4 |
SOURCE
OF FUNDS
| ||||
OO | |||||
5 |
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(e)
or 2(f)
| o | |||
6 |
CITIZENSHIP
OR PLACE OF ORGANIZATION
| ||||
USA | |||||
NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
| 7 |
SOLE
VOTING POWER
| |||
7,516,219 shares | |||||
8 |
SHARED
VOTING POWER
| ||||
o shares | |||||
9 |
SOLE
DISPOSITIVE POWER
| ||||
7,516,219 shares | |||||
10 |
SHARED
DISPOSITIVE POWER
| ||||
0 shares | |||||
11 |
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| ||||
7,516,219 shares | |||||
12 |
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
| o | |||
13 |
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
| ||||
12.57%
| |||||
14 |
TYPE
OF REPORTING PERSON
| ||||
IN | |||||
Item 1. | Security and Issuer |
(c) Address of Issuer's principal executive offices:
26361 Crown Valley Parkway, Suite 150 Mission Viejo, CA 92691 |
Item 2. | Identity and Background |
(a) | Reporting persons:
Efficacy Capital, Ltd., a Bermuda limited liability company Efficacy Biotech Fund, L.P., a Delaware limited partnership Efficacy Biotech Fund Limited, a Bermuda Exempted Mutual Fund Company Efficacy Biotech Master Fund Ltd., a Bermuda Exempted Mutual Fund Company Mark Lappe, a natural person, Managing Partner of Efficacy Capital Ltd. Jon Faiz Kayyem is no longer a Managing Partner of Efficacy Capital Ltd., and is no longer a Reporting Person. |
(b) | c/o Efficacy Capital Ltd.
11622 El Camino Real, Suite 100 San Diego, CA 92130 |
(c) | N/A |
(d) | N/A |
(e) | N/A |
(f) | Efficacy Capital, Ltd.: Bermuda
Efficacy Biotech Fund, L.P.: Delaware Efficacy Biotech Fund Limited: Bermuda Efficacy Biotech Master Fund Ltd.: Bermuda Mark Lappe: USA |
Item 3. |
Source
and Amount of Funds or Other Consideration
|
Warrants to purchase 4,000,000 shares of Common Stock at an exercise price of fifty cents ($.50) per share expired unexercised on June 5, 2007. |
Item 4. |
Purpose
of Transaction
|
N/A |
(a) | N/A |
(b) | N/A |
(c) | N/A |
(d) | N/A |
(e) | N/A |
(f) | N/A |
(g) | N/A |
(h) | N/A |
(i) | N/A |
(j) | N/A |
Item 5. |
Interest
in Securities of the Issuer
|
(a) | The Reporting Persons collectively benefically own 4,280,938 shares of Common Stock and warrants to purchase up to 3,235,281 shares of the Common Stock of the Issuer, in the aggregate comprising 12.57% of the Issuer's outstanding Common Stock (assuming exercise of all warrants). |
(b) | No material change. |
(c) | See table below for transactions effected since the most recent filing of Schedule 13D. |
Transaction Date | Shares or Unites Purchased (Sold) | Price Per Share or Unit |
4/30/2010
2/8/2011 2/15/2011 2/16/2011 3/15/2011 3/16/2011 3/16/2011 | (1,164,405)
(1,381,162) (7,000) (57,600) (193,234) (169,380) (6,171,000) | $0
$0 $0.95 $0.97 $0.76 $0.76 $0.60* |
The transactions on 4/30/2010 and 2/8/2011 were distributions to fund investors. The transactions on 2/15/2011, 2/16/2011 and 3/15/2011, and one transction on 3/16/2011 were open market sale transactions. One transaction on 3/16/2011 was a negotiated block transaction in which 3,630,000 shares of common stock and 2,541,000 warrants were sold for a price of $.60 per share of common stock. |
(d) | N/A |
(e) | N/A |
Item 6. |
Contracts,
Arrangements, Understandings or Relationships with Respect to Securities
of the Issuer
|
No material change. |
Item 7. |
Material
to Be Filed as Exhibits
|
March 23, 2011 | By: |
/s/
Mark Lappe | |
Mark Lappe | |||
Efficacy Capital Ltd., a Bermuda limited liability company | |||
March 23, 2011 | By: |
/s/
Mark Lappe | |
Managing Partner | |||
Efficacy Biotech Fund, L.P., a Delaware limited partnership, by Efficacy Capital Ltd., General Partner | |||
March 23, 2011 | By: |
/s/
Mark Lappe | |
Managing Partner | |||
Efficacy Biotech Fund Limited, a Bermuda Exempted Mutual Fund Company, by Efficacy Capital Ltd., Manager | |||
March 23, 2011 | By: |
/s/
Mark Lappe | |
Managing Partner | |||
Efficacy Biotech Master Fund Ltd., a Bermuda Exempted Mutual Fund Company, by Efficacy Capital Ltd., Manager | |||
March 23, 2011 | By: |
/s/
Mark Lappe | |
General Partner | |||