SEC Info - Accelrys, Inc. - ‘10-Q’ for 3/31/98

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Accelrys, Inc. – ‘10-Q’ for 3/31/98

As of: Friday, 5/15/98 · For: 3/31/98 · Accession #: 950109-98-3277 · File #: 0-27188

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 5/15/98  Accelrys, Inc.                    10-Q        3/31/98    2:29K                                    Donnelley R R & S… 01/FA

Quarterly Report — Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                      14     65K 
 2: EX-27       Financial Data Schedule                                2      8K

10-Q — Quarterly Report
Document Table of Contents

Page	(sequential)	\|	(alphabetic)	Top
			Alternative Formats (Word, et al.) Exhibits and Reports on Form 8-K Exhibits and Reports on Form 8-K 11-13 Financial Statements: Management's Discussion and Analysis of Financial Condition and 7-10 Results of Operations Management's Discussion and Analysis of Financial Condition and Results of Operations Proposed Merger
1	1st Page - Filing Submission
2	Item 1. Financial Statements:
"	Item 2. Management's Discussion and Analysis of Financial Condition and 7-10 Results of Operations
"	Item 6. Exhibits and Reports on Form 8-K 11-13
7	Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
9	Proposed Merger
10	Item 6. Exhibits and Reports on Form 8-K

10-Q 1st Page of 14 TOC ↑Top Previous Next ↓Bottom Just 1st
 
SECURITIES AND EXCHANGE COMMISSION  
WASHINGTON, D.C. 20549  

FORM 10-Q 

(Mark One)                                                                      
[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE          
SECURITIES EXCHANGE ACT OF 1934                             

For the quarterly period ended March 31, 1998                                   

or  

[_]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE         
SECURITIES EXCHANGE ACT OF 1934                             

Commission File Number:  0-27188  
                       -------

PHARMACOPEIA, INC.  

--------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)  

Delaware                                                33-0557266              
--------------------------------------------------------------------------------
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
incorporation or organization)                                                  

101 College Road East, Princeton, New  Jersey                         08540     
--------------------------------------------------------------------------------
(Address of principal executive offices)                           (Zip code)   

(609) 452-3600  
--------------------------------------------------------------------------------
(Registrant's telephone number, including area code)  

    Not Applicable
--------------------------------------------------------------------------------
(Former name, former address and former fiscal year, if changed since last  
report) 

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or such shorter period that the registrant was required
to file such reports) and (2) has been subject to such filing requirements for  
the past 90 days -- Yes  X     No                                               
-----     _____                   

Indicate the number of shares outstanding of each of the issuer's classes of    
common stock, as of the latest practicable date:                                

               CLASS                         OUTSTANDING AT APRIL 13, 1998
    -------------------------------         ----------------------------------
Common Stock, $.0001 par value                     11,811,079         

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PHARMACOPEIA, INC.  

FORM 10-Q 

TABLE OF CONTENTS 

                                                                [Download Table]

ITEM                                                                          Page
----                                                                          ----
                                                                                  
PART I.  FINANCIAL INFORMATION                                                    

Item 1.   Financial Statements:                                                   

          Consolidated Balance Sheets-March 31, 1998 and December 31, 1997    3   

          Consolidated Statements of Operations-Three Months Ended            4   
          March 31, 1998 and 1997                                                 

          Consolidated Statements of Cash Flows-Three Months Ended            5   
          March 31, 1998 and 1997                                                 

          Notes to Consolidated Financial Statements                         6-7  

Item 2.   Management's Discussion and Analysis of Financial Condition and    7-10 
          Results of Operations                                                   

PART II.  OTHER INFORMATION                                                       

Item 6.   Exhibits and Reports on Form 8-K                                  11-13 

SIGNATURE                                                                     14  
INDEX TO EXHIBITS                                                             15  

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PART I  
FINANCIAL INFORMATION 

ITEM 1.  FINANCIAL STATEMENTS                                                   
PHARMACOPEIA, INC. AND SUBSIDIARY 
CONSOLIDATED BALANCE SHEETS 
(DOLLARS IN THOUSANDS, EXCEPT SHARE DATA) 

                                                        [Enlarge/Download Table]

                                                                 MARCH 31,     December 31,   
                                                                   1998           1997        
                                                                ----------------------------  
                                                                (Unaudited)                   
ASSETS                                                                                        
                                                                                              
Current assets:                                                                               
 Cash and cash equivalents                                      $  3,492            $   9,590 
 Marketable securities                                            64,244               60,166 
 Prepaid expenses and other current assets                         2,458                1,890 
                                                                ----------------------------- 
Total current assets                                              70,194               71,646 
                                                                ----------------------------- 

Non-current investments in marketable securities                   8,719               12,865 
Property and equipment, net                                       10,528               10,874 
Other assets                                                         329                  302 
                                                                ----------------------------- 
                                                                $ 89,770            $  95,687 
                                                                ============================= 
LIABILITIES AND STOCKHOLDERS' EQUITY                                                          
Current liabilities:                                                                          
 Accounts payable                                               $     993            $  1,756 
 Accrued liabilities                                                1,818               2,726 
 Notes payable, current portion                                       680                 690 
 Deferred revenue                                                  15,322              16,091 
                                                                ----------------------------- 
Total current liabilities                                          18,813              21,263 

Notes payable, long-term portion                                      558                 712 
Deferred revenue, long-term                                         1,993               3,275 

Commitments                                                                                   

Stockholders' equity:                                                                         
 Preferred stock, $.0001 par value; 2,000,000 shares                                          
  authorized; none issued and outstanding                                                     
 Common stock, $.0001 par value; 40,000,000 shares authorized;                                
  11,811,079 and 11,270,953 shares issued and outstanding at                                  
  March 31, 1998 and December 31, 1997, respectively                    1                   1 
  Additional paid-in capital                                      105,103             104,909 
 Accumulated deficit                                              (36,698)            (34,473)
                                                                ----------------------------- 
Total stockholders' equity                                         68,406              70,437 
                                                                ----------------------------- 
                                                                $  89,770            $ 95,687 
                                                                ============================= 

See accompanying notes to these unaudited consolidated financial statements.  

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PHARMACOPEIA, INC. AND SUBSIDIARY 

CONSOLIDATED STATEMENTS OF OPERATIONS 
(DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA) 

                                                                [Download Table]

                                          THREE MONTHS ENDED MARCH 31,
                                               1998          1997     
                                          ----------------------------
                                                   (UNAUDITED)        
                                                                      
Contract revenue                          $     6,432     $     5,932 

Operating expenses:                                                   
 Research and development:                                            
  Collaborative                                 4,420           4,151 
  Proprietary                                   3,724           2,729 
 General and administrative                     1,587           1,458 
                                          ----------------------------
Operating loss                                 (3,299)         (2,406)

Interest income                                 1,116           1,064 
Interest expense                                  (43)            (67)
                                          ----------------------------
Net loss                                  $    (2,226)    $    (1,409)
                                          ============================
Basic net loss per share                  $      (.19)    $      (.13)
                                          ============================

Weighted-average number of common shares                              
 outstanding during the period             11,798,024      11,269,752 
                                          ============================

See accompanying notes to these unaudited consolidated financial statements.  

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PHARMACOPEIA, INC. AND SUBSIDIARY 

CONSOLIDATED STATEMENTS OF CASH FLOWS 
(DOLLARS IN THOUSANDS)  

                                                        [Enlarge/Download Table]

                                                           THREE MONTHS ENDED MARCH 31,
                                                                1998           1997    
                                                           ----------------------------
                                                                    (UNAUDITED)        
CASH FLOWS FROM OPERATING ACTIVITIES                                                   
                                                                                       
Net loss                                                   $    (2,226)   $    (1,409) 
Adjustments to reconcile net loss to net cash provided                                 
  by (used in) operating activities:                                                   
  Depreciation                                                     835            619  
  Amortization                                                       1             10  
  Changes in operating assets and liabilities:                                         
  (Increase) in prepaid expenses and other current assets         (568)          (670) 
  (Increase) decrease in other assets                              (27)            88  
  (Decrease) in accounts payable                                  (763)           (35) 
  (Decrease) in accrued liabilities                               (908)          (160) 
  Increase (decrease) in deferred revenue                       (2,051)            95  
                                                           ----------------------------
Net cash (used in) operating activities                         (5,707)        (1,462) 

CASH FLOWS FROM INVESTING ACTIVITIES                                                   
Capital expenditures                                              (489)        (1,098) 
Purchase of marketable securities                              (19,254)       (28,101) 
Proceeds from maturities of marketable securities               19,322         19,182  
                                                           ----------------------------
Net cash used in investing activities                             (421)       (10,017) 

CASH FLOWS FROM FINANCING ACTIVITIES                                                   
Net proceeds from issuance of common stock                         194              7  
Repayments of notes payable                                       (164)          (173) 
                                                           ----------------------------
Net cash provided by (used in) financing activities                 30           (166) 
                                                           ----------------------------

Decrease in cash and cash equivalents                           (6,098)       (11,645) 
Cash and cash equivalents at beginning of period                 9,590         17,059  
                                                           ----------------------------
Cash and cash equivalents at end of period                 $     3,492    $     5,414  
                                                           ============================

See accompanying notes to these unaudited consolidated financial statements.  

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PHARMACOPEIA, INC. AND SUBSIDIARY 

Notes to Consolidated Financial Statements  
(UNAUDITED) 

NOTE (1) -- BASIS OF PRESENTATION                                               

The unaudited consolidated financial statements have been prepared in 
accordance with generally accepted accounting principles for interim financial  
information.  Accordingly, they do not include all of the information and       
footnotes required by generally accepted accounting principles for complete     
financial statements. In the opinion of management, all adjustments (consisting 
of normal recurring accruals) considered necessary for a fair presentation have 
been included. The Company's wholly-owned subsidiary, Micro Acquisition         
Corporation, was incorporated in the state of Delaware on January 9, 1998. All  
intercompany balances have been eliminated in consolidation. Interim results are
not necessarily indicative of the results that may be expected for the year.    
For further information, refer to the financial statements and footnotes thereto
included in the Company's Annual Report on Form 10-K, as amended, for the year  
ended December 31, 1997.                                                        

NOTE (2) -- BASIC NET LOSS PER SHARE                                            

Basic net loss per share is based on net loss for the relevant period 
divided by the weighted average number of common shares issued and outstanding  
during the period. Common Stock equivalents such as stock options and warrants  
are not included as their effect is anti-dilutive.                              

NOTE (3) -- IMPACT OF RECENTLY ISSUED ACCOUNTING STANDARDS                      

On January 1, 1998 the Company adopted SFAS No. 130, "Reporting       
Comprehensive Income" ("SFAS No. 130"). SFAS No. 130 establishes standards for  
the reporting and display of comprehensive income and its components and is     
applied to all enterprises. The adoption of SFAS No. 130 had no impact on the   
Company's consolidated results of operations, financial position or cash flows. 

     In June 1997, the Financial Accounting Standards Board issued SFAS No. 131,
"Disclosures about Segments of an Enterprise and Related Information" ("SFAS No.
131").  SFAS No. 131 establishes standards for the way that public business     
enterprises report information about operating segments in annual financial     
statements and requires that those enterprises report selected information about
operating segments in interim financial reports issued to stockholders.  It also
establishes standards for related disclosures about products and services,      
geographic areas, and major customers.  SFAS No. 131 is effective for financial 
statements for fiscal years beginning after December 15, 1997.  The Company will
adopt the new requirements in conjunction with its 1998 Form 10-K.  The adoption
of SFAS No. 131 will have no significant impact on the Company's financial      
reporting, except with respect to reporting information regarding Molecular     
Simulations Incorporated in the event that the transaction described under      
"Proposed Merger" below is consummated.                                         

 On February 4, 1998, the Company and Molecular Simulations Incorporated
("MSI") announced the execution of a definitive merger agreement under which the
Company will acquire MSI in a tax-free, stock-for-stock transaction to be       
accounted for on a pooling of interests basis. The Company will acquire all of  
the outstanding stock of MSI and will assume the outstanding MSI options, which 
will then be exercisable for shares of the Company's Common Stock. The Company  
anticipates finalizing the merger transaction during the second quarter of 1998 
once shareholder approval has been received. MSI is a provider of molecular     
modeling and simulation software. MSI designs, develops, markets and supports   
software that facilitates the discovery and development of new products and     
processes in the pharmaceutical, biotechnology, chemical, petrochemical and     
materials industries. As of December 31, 1997 MSI had total assets of $46,500   
and for the year ended December 31, 1997 MSI had total revenue of $56,700 and   
net income of $5,400.                                                           

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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND         
RESULTS OF OPERATIONS                                           

OVERVIEW                                                                        

The following Management's Discussion and Analysis is based on  
historical financial results of Pharmacopeia, Inc. and Subsidiary               
("Pharmacopeia" or the "Company") and includes certain forward-looking          
statements that do not specifically reflect the impact that the proposed merger 
described below under the caption "Proposed Merger" may have on future financial
performance of the post-merger company. Such performance cannot be predicted and
may not follow the same historical trends as those presented in the following   
discussion.                                                                     

      Pharmacopeia was incorporated in March 1993 and is engaged in research
and development and chemical library production for collaborations and for its  
own use. The Company's research and development has focused on efficient, cost  
effective, high throughput systems for synthesizing and screening large         
libraries of chemicals for new drug discovery and optimization. The Company has 
incurred losses since inception and, as of March 31, 1998 had an accumulated    
deficit of $36.7 million. The Company anticipates incurring additional losses   
over at least the next several years as it expands its research and development 
and chemical library production efforts. The Company expects that its losses    
will fluctuate from quarter to quarter and that such variations may be          
substantial.                                                                    

RESULTS OF OPERATIONS                                                           

  The Company expects that its revenue sources for at least the next
several years will be limited to future drug discovery collaboration payments   
from Schering Corporation and Schering-Plough Ltd., Berlex Laboratories, Inc.,  
Novartis Corporation, Bayer Corporation, Daiichi Pharmaceuticals Co., Ltd., N.V.
Organon, Zeneca Pharmaceuticals and Bristol-Myers Squibb and from other         
customers under existing arrangements and others that may be entered into in the
future. The timing and amounts of such revenues, if any, will likely fluctuate. 
Historical results should not be viewed as indicative of future operating       
results. The Company will be required to conduct significant research,          
development and production activities during the next several years to fulfill  
its obligations under its drug discovery collaborative agreements and to develop
other collaborations and technologies. The Company does not anticipate having   
net income in the next several years.                                           

THREE MONTHS ENDED MARCH 31, 1998 AND 1997                                      

        Revenues totaled $6.4 million and $5.9 million in the three months ended
March 31, 1998 and 1997. The increase of $.5 million in revenues is primarily   
the result of the Company's expanded efforts in the library outlicensing        
collaborations with Novartis and Bayer.                                         

      The Company incurred research and development expenses of $8.1 million
and $6.9 million in the three months ended March 31, 1998 and 1997,             
respectively. The $1.2 million increase primarily reflects a 36% increase in    
proprietary research and development as Pharmacopeia continues to invest in     
internal discovery programs, ultra high-throughput                              

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screening, and informatics. Research and development expenses are expected to   
continue to increase as the Company further expands its activities and incurs,  
among other things, expenses related to additional staff increases, increased   
rent for expanded facilities, and increased equipment and reagent purchases.    

   General and administrative expenses were $1.6 million and $1.5 million in
the three months ended March 31, 1998 and 1997, respectively. The increase is   
primarily attributable to increased payroll and personnel expenses as the       
Company continued to hire additional management and administrative personnel.   

  The Company had interest income of $1.1 million in both the three months
ended March 31, 1998 and March 31, 1997 as a result of the average balance of   
cash, cash equivalents and marketable securities remaining constant for both    
periods. Interest expense for both periods is a result of interest incurred on  
notes payable.                                                                  

LIQUIDITY AND CAPITAL RESOURCES                                                 

 As of March 31, 1998, the Company had working capital of $51.4 million.
The Company has funded its activities through March 31, 1998 primarily through  
the sale of equity securities and funding under collaborative arrangements.     
From inception through March 31, 1998, the Company received $105.1 million in   
net proceeds from equity financing and received $64.3 million in research and   
development, license fees and milestone payments under collaborative agreements.

    The Company's funds are currently invested in U.S. Treasury and government
agency obligations, investment grade commercial paper and other short-term money
market instruments. The Company may also invest such proceeds in investment     
grade, interest-bearing securities having a maximum maturity of two years. As of
March 31, 1998, the Company's cash and cash equivalents totaled $3.5 million. In
addition, the Company had marketable securities of $72.9 million.               

  In connection with the Company's agreement with the Trustees of Columbia
University and Cold Spring Harbor Laboratory, the Company is required to pay    
annual license fees. The Company is also required to pay to Columbia University 
certain royalties.                                                              

    In addition, as of March 31, 1998, the Company had outstanding commitments
for construction and equipment purchases totaling $.2 million. The Company      
anticipates that its capital requirements will continue at approximately the    
same level over the next two years as the Company expands its research and      
development activities. In connection with such expansion, the Company expects  
to incur substantial expenditures for hiring additional management and          
scientific and administrative personnel, and for planned expansion and upgrading
of its facilities, including acquisition of additional equipment.               

The Company anticipates that its existing capital resources will be   
adequate to fund the Company's operations at least through 1999.  There can be  
no assurance that changes will not occur that would consume available capital   
resources before such time.  The Company's capital                              

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requirements depend on numerous factors, including the ability of the Company to
extend existing collaborations and enter into additional collaborative          
arrangements, competing technological and market developments, changes in the   
Company's existing collaborative relationships, the cost of filing, prosecuting,
defending and enforcing patent claims and other intellectual property rights and
the outcome of related litigation, the purchase of additional capital equipment,
acquisitions of other businesses or technologies, the progress of the Company's 
drug discovery programs and the progress of the Company's customers' milestone  
and royalty producing activities. There can be no assurance that additional     
funding, if necessary, will be available on favorable terms, if at all. The     
Company's forecasts of the period of time through which its financial resources 
will be adequate to support its operations is forward looking information, and  
actual results could vary. The factors described earlier in this paragraph will 
impact the Company's future capital requirements and the adequacy of its        
available funds.                                                                

PROPOSED MERGER                                                                 

     On February 4, 1998, Pharmacopeia, Micro Acquisition Corporation, a wholly-
owned subsidiary of Pharmacopeia ("MAC") and Molecular Simulations Incorporated 
("MSI") executed a definitive merger agreement (the "Merger Agreement") pursuant
to which Pharmacopeia will acquire MSI in a tax-free, stock-for-stock           
transaction, which Pharmacopeia expects will qualify for accounting treatment on
a "pooling-of-interests" basis.                                                 

   Pursuant to the Merger Agreement, MAC will be merged into MSI with MSI as
the surviving corporation. Assuming that outstanding options to purchase shares 
of common stock of MSI are not exercised before the effective time of the       
merger, Pharmacopeia will (a) acquire all of the outstanding capital stock of   
MSI in exchange for approximately 7.1 million newly-issued shares of            
Pharmacopeia Common Stock and (b) assume the outstanding MSI options, which will
then be exercisable for shares of Pharmacopeia Common Stock, potentially        
resulting in the issuance of up to an additional 1.6 million newly-issued shares
of Pharmacopeia Common Stock.                                                   

 The transaction is subject to certain conditions, including stockholder
approvals, the effectiveness of a registration statement under the federal      
securities laws relating to the Pharmacopeia Common Stock to be issued in the   
merger, the listing of such Pharmacopeia Common Stock on the Nasdaq National    
Market and the expiration of applicable waiting periods under pre-merger        
notification regulations. Pharmacopeia and an affiliate of MSI have received    
notices of the grant of early termination of such waiting periods.  On May 8,   
1998 Pharmacopeia's registration statement under the federal securities laws    
relating to the Pharmacopeia Common Stock to be issued in the merger was        
declared effective.                                                             

   As of December 31, 1997 MSI had total assets of $46.5 million and for the
year ended December 31, 1997 MSI had total revenue of $56.7 million and net     
income of $5.4 million.                                                         

After the closing of the merger, Pharmacopeia will file, as part of a 
current Report on Form 8-K, unaudited pro forma combined condensed financial    
statements that give effect to the merger.                                      

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PART II 

OTHER INFORMATION 

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K                                       

(a)  Exhibits:                                                                  

                                                        [Enlarge/Download Table]
                                                                                                         
3.1******          Restated Certificate of Incorporation of the Registrant.                              
3.3******          Bylaws of the Registrant, as amended.                                                 
3.3(a)********     Amendment to Bylaws of Pharmacopeia dated July 31, 1997.                              
4.3*               Stockholders Rights Agreement, dated February 15, 1995.                               
10.1*              Series A and Series B Preferred Stock Purchase Agreement, dated July 21, 1993.        
10.2*              Series B Preferred Stock Purchase Agreement, dated March 11, 1994.                    
10.3*              Series C Preferred Stock Purchase Agreement, dated December 22, 1994.                 
10.4*              Series D Preferred Stock Purchase Agreement, dated February 15, 1995.                 
10.5**#            Amended 1994 Incentive Stock Plan.                                                    
10.5(a)*******#    Amendment No. 3 to the 1994 Incentive Stock Plan dated May 9, 1997.                   
10.6*#             1995 Employee Stock Purchase Plan.                                                    
10.7*#             1995 Director Option Plan.                                                            
10.8*+             Library Collection Agreement, dated as of October 1, 1995, between Pharmacopeia and   
                   Novartis Corporation.                                                                 
10.9*+             Research, License, and Royalty Agreement, dated as of February 15, 1995, between      
                   Pharmacopeia and Berlex Laboratories, Inc.                                            
10.9(a)*******+    Amendment No. 1 to Research, License and Royalty Agreement between the Company and    
                   Berlex Laboratories, Inc. dated November 27, 1996.                                    
10.9(b)*******+    Amendment No. 2 to Research, License and Royalty Agreement between the Company and    
                   Berlex Laboratories, Inc. dated June 30, 1997.                                        
10.9(c)*********+  Amendment No.3 to Research, License and Royalty Agreement between the Company and     
                   Berlex Laboratories, Inc. dated November 21, 1997.                                    
10.10*+            License Agreement, dated as of October 6, 1995, among Pharmacopeia, the Trustees of   
                   Columbia University in the City of New York and Cold Spring Harbor Laboratory.        
10.11*+            Collaboration Agreement, dated as of December 22, 1994, between Pharmacopeia and      
                   Schering Corporation and Schering-Plough, Ltd.                                        
10.11(b)*******+   Amendment No. 2 to Collaboration Agreement and Random Library Agreement between the   
                   Company and Schering Corporation and Schering-Plough, Ltd. dated as of April 22, 1996.
10.11(c)*******+   Amendment No. 3 to Collaboration Agreement and Random Library Agreement between the   
                   Company and Schering Corporation and Schering-Plough, Ltd. dated as of April 21, 1997.
10.12*+            Random Library Agreement, dated as of December 22, 1994, between Pharmacopeia and     
                   Schering Corporation and Schering-Plough, Ltd.                                        
10.13*             Lease Agreement between Pharmacopeia and Eastpark at 8A.                              
10.13(a)**         Amendment dated as of January 22, 1996 to Lease Agreement between Pharmacopeia and    
                   Eastpark at 8A.                                                                       

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                                                        [Enlarge/Download Table]
                                                                                                          
10.13(b)****      Third Amendment to Lease Agreement dated March 31, 1996 between Pharmacopeia and        
                  Eastpark at 8A.                                                                         
10.14*            Sublease, dated as of December 7, 1994, between Pharmacopeia and Enichem Americas, Inc. 
10.15*            Lease, dated as of May 2, 1994, between Pharmacopeia and College Road Associates        
                  Limited, as amended.                                                                    
10.15(a)**        Lease dated as of December 1, 1995 between Pharmacopeia and College Road Associates, as 
                  amended.                                                                                
10.15(b)****      Third Execution and Modification of lease dated June 7, 1996, between Pharmacopeia and  
                  College Road Associates Limited.                                                        
10.17*#           Employment Agreement, dated October 4, 1994, between the Company and Lewis J. Shuster.  
10.18*********#   Employment Agreement effective November 1, 1997 between the Company and Joseph A.       
                  Mollica, Ph.D.                                                                          
10.20*#           Employment Agreement, dated June 3, 1993, between the Company and John J. Baldwin, Ph.D.
10.21*#           Employment Agreement, dated December 2, 1993, between the Company and Nolan H.          
                  Sigal, M.D., Ph.D.                                                                      
10.22*#           Consulting Agreement, dated April 30, 1993, between the Company and W. Clark Still,     
                  Ph.D.                                                                                   
10.23*            Warrant to purchase Common Stock issued to Columbia University.                         
10.24*            Warrant to purchase Common Stock issued to Cold Spring Harbor Laboratory.               
10.25**+          Collaboration Agreement effective as of December 31, 1995 between Pharmacopeia and      
                  Bayer.                                                                                  
10.26**+          Random Library Agreement effective as of December 31, 1995 between Pharmacopeia and     
                  Bayer.                                                                                  
10.30***+         Collaborative Agreement dated as of March 29, 1996 with Daiichi Pharmaceutical Co., Ltd.
10.30(a)*******+  Amendment No. 1 to Collaboration Agreement between the  Company and Daiichi             
                  Pharmaceutical Co., Ltd. dated April 14, 1997.                                          
10.31****+        Research Agreement, between Pharmacopeia, Inc. and N.V. Organon dated May 31, 1996.     
10.32*****#       Employment Agreement, dated June 20, 1996, between the Company and Stephen A. Spearman, 
                  Ph.D.                                                                                   
10.33*****        Lease Agreement, dated June 21, 1996, between Pharmacopeia and South Brunswick Rental   
                  I, Ltd.                                                                                 
10.34**********+  Collaboration and License Agreement between Pharmacopeia, Inc. and Bristol-Myers Squibb 
                  Company dated November 26, 1997.                                                        
11.1*             Statement re Computation of Per Share Earnings.                                         
27.1              Financial Data Schedule                                                                 

_________________                                                               
* Incorporated by reference to the same numbered exhibit filed with the         
Company's Registration Statement on Form S-1 No. 33-93460.                      
** Incorporated by reference to the same numbered exhibit filed with the        
Company's Form 10-K for the year ended December 31, 1995.                       

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*** Incorporated by reference to the same numbered exhibit filed with the       
Company's Form 10-Q for the quarter ended March 31, 1996.                       
**** Incorporated by reference to the same numbered exhibit filed with the      
Company's Form 10-Q for the quarter ended June 30, 1996.                        
***** Incorporated by reference to the same numbered exhibit filed with the     
Company's Form 10-Q for the quarter ended September 30, 1996.                   
****** Incorporated by reference to the same numbered exhibit filed with the    
Company's Form 10-K for the year ended December 31, 1996.                       
******* Incorporated by reference to the same numbered exhibit filed with the   
Company's Form 10-Q for the quarter ended June 30, 1997.                        
******** Incorporated by reference to the same numbered exhibit filed with the  
Company's form 10-Q for the quarter ended September 30, 1997.                   
********* Incorporated by reference to the same numbered exhibit filed with the 
Company's Form 10-K for the year ended December 31, 1997.                       
********** Incorporated by reference to the same numbered exhibit filed with the
Company's Form 10-K/                                                            
A-2 for the year ended December 31, 1997                                        
+  Confidential treatment granted.                                              
#  Represents a management contract or compensatory plan or arrangement.        

(b)  REPORTS ON FORM 8-K                                                        

   (i)  Current report on Form 8-K dated February 4, 1998 (filed February 5,
1998) reported under Item 2 the Agreement and Plan of Merger and Reorganization 
among Pharmacopeia, Inc., Micro Acquisition Corporation and Molecular           
Simulations Incorporated and reported under Item 7 the list of related exhibits.

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SIGNATURES  

  Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the        
undersigned, thereunto duly authorized.                                         

        PHARMACOPEIA, INC.

              By: /s/ LEWIS J. SHUSTER
                                     ---------------------------------------
              Lewis J. Shuster
                                 Executive Vice President, Corporate
                                   Development & Chief Financial Officer
                                (Duly Authorized Officer and Chief
                   Accounting Officer)

         Date:  May 14, 1998

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PHARMACOPEIA, INC.  
INDEX TO EXHIBITS 

                                                                [Download Table]

EXHIBIT NUMBER      EXHIBIT NAME                            PAGE
                                                                
27.1                Financial Data Schedule                     

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Dates Referenced Herein and Documents Incorporated by Reference

		Referenced-On Page
This ‘10-Q’ Filing	Date	First	Last	Other Filings

Filed on:	5/15/98
	5/14/98	13
	5/8/98	9		S-4/A, SC 13G/A
	4/13/98	1
For Period End:	3/31/98	1	8
	2/5/98	12		8-K
	2/4/98	6	12	8-K
	1/9/98	6
	1/1/98	6
	12/31/97	3	12	10-K, 10-K/A
	12/15/97	6
	11/26/97	11
	11/21/97	10
	11/1/97	11
	9/30/97	12		10-Q
	7/31/97	10
	6/30/97	10	12	10-Q
	5/9/97	10		DEF 14A
	4/21/97	10
	4/14/97	11
	3/31/97	2	8	10-Q
	12/31/96	12		10-K
	11/27/96	10
	9/30/96	12		10-Q
	6/30/96	12		10-Q, 10-Q/A
	6/21/96	11
	6/20/96	11
	6/7/96	11
	5/31/96	11
	4/22/96	10
	3/31/96	11	12	10-Q, 10-Q/A
	3/29/96	11
	1/22/96	10
	12/31/95	11		10-K405/A
	12/1/95	11
	10/6/95	10
	10/1/95	10
	2/15/95	10
	12/22/94	10
	12/7/94	11
	10/4/94	11
	5/2/94	11
	3/11/94	10
	12/2/93	11
	7/21/93	10
	6/3/93	11
	4/30/93	11
				List all Filings

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Filing Submission 0000950109-98-003277 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Accelrys, Inc. – ‘10-Q’ for 3/31/98

As of: Friday, 5/15/98 · For: 3/31/98 · Accession #: 950109-98-3277 · File #: 0-27188

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Quarterly Report — Form 10-QFiling Table of Contents

10-Q — Quarterly ReportDocument Table of Contents

Dates Referenced Herein and Documents Incorporated by Reference

Quarterly Report — Form 10-Q
Filing Table of Contents

10-Q — Quarterly Report
Document Table of Contents