1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: December 6, 1999 Commission File No. 000-22347 ------------------- ---------- (Date of earliest event reported) ASCENT PEDIATRICS, INC. (Exact name of Registrant as specified in its Charter) Delaware 04-3047405 - ------------------------------- --------------------------------- (State or other jurisdiction of (IRS Employer Identification No.) incorporation or organization) 187 Ballardvale Street, Wilmington, Massachusetts 01887 - ------------------------------------------------- --------- (Address of principal executive offices) (Zip Code) (978) 658-2500 -------------- (Registrant's telephone number, including area code) 2 ITEM 5. OTHER EVENTS CHANGE IN PRESIDENT On December 17, 1999, Ascent Pediatrics, Inc. ("Ascent") issued a press release announcing the appointment of Dr. Emmett Clemente to the office of President of Ascent, a position he held previously until 1996. Dr. Clemente founded Ascent in 1989 and will also remain as Chairman of Ascent. Mr. Alan R. Fox, previously President and Chief Executive Officer of Ascent, has left Ascent to pursue other interests. A copy of the press release has been filed with this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference. TERMINATION OF WARNER-LAMBERT PROMOTION AGREEMENT On December 6, 1999, Warner-Lambert Company ("Warner Lambert") notified Ascent that Warner-Lambert had entered into an agreement with Abbott Laboratories for the sale of Warner-Lambert's assets with respect to the Omnicef(R) (cefdinir) product and that, immediately after the consummation of such sale, Warner-Lambert will terminate its promotion agreement with Ascent relating to the Omnicef(R) (cefdinir) product. Warner-Lambert has indicated that the closing of the sale, which is subject to certain closing conditions, is currently scheduled for January 10, 2000. ITEM 7. EXHIBITS 99.1 Press release dated December 17, 1999. 3 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 hereunto duly authorized. Dated: December 20, 1999 ASCENT PEDIATRICS, INC. /s/ Eliot M. Lurier ----------------------- Eliot M. Lurier Chief Financial Officer 3 4 INDEX TO EXHIBITS EXHIBIT NO. DESCRIPTION - ------- ----------- 99.1 Press release dated December 17, 1999. 4