PENWEST PHARMACEUTICALS CO 4
4 · PENWEST PHARMACEUTICALS CO · Filed May 20, 2008
Insider Transaction Report
Form 4
EDELMAN JOSEPH
10% Owner
Transactions
- Purchase
Ordinary Shares
2008-05-15$5.00/sh+2,500$12,500→ 6,296,046 total(indirect: see footnote)
Footnotes (2)
- [F1]This Form 4 is being filed by Joseph Edelman, Scott Bradley, Perceptive Life Science Master Fund Ltd. )"Master Fund") and Perceptive Advisors LLC ("Advisors").
- [F2]This amount reflects the amount of securities held by the Master Fund immediately following the transaction requiring the filing of this statement. Mr. Edelman is the managing member of Advisors, which in turn serves as the investment manager of Master Fund. Mr. Bradley has sole voting and dispositive power over 57,000 such shares. Mr. Edelman has sole voting and dispositive power over the remained of such shares. In accordance with Instruction 5(b)(iv) of Form 3, the entire amount of the Issuer's securities held by Master fund is reported ehrein. Each of Mr. Edelman, Mr. Bradley and Advisors disclaims, for purposes of Section 16 of the Securities Exchange Act of 1934, beneficial ownership of such securities, except to the extent of his/its indirect pecuniary interest therein, and this report shallnot be deemed an admission that Mr. Edelman, Mr. Bradley or Advisors is the beneficial owner of such securities for purposes of section 16 or for any other purposes.