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
JULY 25, 2000
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(Date of Report)
ENTROPIN, INC.
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(Exact Name of Registrant as specified in its charter)
COLORADO 33-23693 84-1090424
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
45926 OASIS STREET, INDIO, CALIFORNIA 92201
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(Address of principal executive offices including zip code)
(760) 775-8333
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(Registrant's telephone number including area code)
N/A
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(Former name or former address, if changed since last report)
ITEM 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS.
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Daniel L. Azarnoff announced his resignation as a director from the
Board of Directors of Entropin, Inc., effective July 10, 2000. The vacancy
created by his resignation has been filled by the remaining Directors who
have appointed Paul Maier, Senior Vice President and Chief Financial
Officer of Ligand Pharmaceuticals, Inc. to the Board of Directors of
Entropin, Inc..
On July 24, 2000 the Registrant issued the following press release:
NEWS RELEASE
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FOR IMMEDIATE RELEASE
PAUL MAIER, LIGAND PHARMACEUTICALS CFO, JOINS ENTROPIN BOARD OF DIRECTORS
Indio, California, July 24/PRNewswire/ - - Entropin, Inc.
(Nasdaq: ETOP, ETOPW) today announced Paul Maier, senior vice president and
chief financial officer of Ligand Pharmaceuticals, Inc., has been appointed
to the Entropin board of directors. Mr. Maier replaces retiring Entropin
board member, Daniel Azarnoff.
"Paul Maier brings to the Entropin board a wealth of financial
expertise gained through a 25 year career that has included senior
management positions with multi-national organizations, large
pharmaceutical firms, and developing biotechnology companies," said Higgins
Bailey, chairman of the Entropin board of directors. "In particular, we
expect his experience in helping Ligand to grow from a venture-backed
private company to a publicly traded firm with multiple subsidiaries will
greatly benefit Entropin as our company matures in its development. We are
very pleased to welcome Paul to the Entropin board."
"We also sincerely thank Dan Azarnoff for his many years of service as
an Entropin board member," Dr. Higgins added.
Prior to joining Ligand Pharmaceuticals in 1992, Paul Maier was vice
president, finance for DFS West, a division of the $2 billion duty free
shoppers retail organization. From 1984 to 1990, he was employed by ICN
Pharmaceuticals, the holding company for SPI Pharmaceuticals, Viratek
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and ICN Biomedicals. Initially serving as vice president, finance of SPI
Pharmaceuticals, Mr. Maier held a series of increasingly responsible
management positions, ultimately becoming vice president and treasurer of
the ICN Pharmaceuticals holding company. Earlier in his career, he was
vice president, finance and chief financial officer for Cummins Service and
Sales and held financial analyst positions at Wells Fargo Bank and
Greyhound Corporation. Mr. Maier received his MBA degree from the Harvard
Graduate School of Business. He is also a director of the Wellness
Community-San Diego, a program of support for cancer patients.
Entropin, Inc. Is a pharmaceutical research and development company,
initially focused on the development of a novel topical therapeutic called
Esterom (R) solution. Entropin is currently conducting Phase III trials of
a New Drug Application with the U.S. Food and Drug Administration (FDA) for
that indication in late 2001. For further information, please contact Dr.
Higgins Bailey, chairman, or Patricia Kriss, chief financial officer, at
(760) 775-8333 or visit our website at www.entropin.com.
Safe Harbor Statement Under the Private Securities Litigation Reform
Act of 1995: This release includes forward-looking statements which reflect
Entropin's current views with respect to future events and financial
performance. The words "believe," "expect," "anticipate," and similar
expressions identify forward-looking statements. Investors should not rely
on forward-looking statements because they are subject to a variety of
risks, uncertainties, and other factors that could cause actual results to
differ materially from those expressed in any such forward-looking
statements. These factors include, but are not limited to: (1) the ability
to successfully complete development and commercialization of products,
including the cost, scope and results of preclinical and clinical testing;
(2) the ability to successfully complete product research and further
development, including animal, pre-clinical and clinical studies; (3) the
time, cost and uncertainty of obtaining regulatory approvals; (4) the
ability to obtain substantial additional funding; (5) the ability to
develop and commercialize products before competitors; and (6) other
factors detailed from time to time in filings with the Securities and
Exchange Commission.
SIGNATURES
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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.
Date: July 25, 2000 ENTROPIN, INC.
By /s/ Thomas G. Tachovsky
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Thomas G. Tachovsky
President and Chief Executive Officer
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