Schedule 13G Amendment No. 1

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G/A

 

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

 

 

 

 

Ardea Biosciences, Inc.

(Name of Issuer)

 

 

COMMON STOCK, PAR VALUE $0.001 PER SHARE

(Title of Class of Securities)

 

 

03969P107

(CUSIP Number)

 

 

December 31, 2008

(Date of Event Which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

¨ Rule 13d-1(b)

x Rule 13d-1(c)

¨ Rule 13d-1(d)

 

 

*   The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).


CUSIP No. 03969P107     Page 2 of 6 Pages

 

  1  

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (Entities Only)

 

            Visium Asset Management, LP

   
  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ¨

(b)  ¨

   
  3  

SEC USE ONLY

 

   
  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            Delaware

   

 

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

 

 

  5    SOLE VOTING POWER

 

                1,281,838 (See Item 4)

 

  6    SHARED VOTING POWER

 

                None

 

  7    SOLE DISPOSITIVE POWER

 

                1,281,838 (See Item 4)

 

  8    SHARED DISPOSITIVE POWER

 

                None

  9  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            1,281,838 (See Item 4)

   
10  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

 

            Not Applicable

 

¨

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

            8.52%

   
12  

TYPE OF REPORTING PERSON*

 

            OO

   

*SEE INSTRUCTIONS BEFORE FILLING OUT.

 

Page 2 of 6 Pages


CUSIP No. 03969P107     Page 3 of 6 Pages

 

  1  

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (Entities Only)

 

            Jacob Gottlieb

   
  2  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a)  ¨

(b)  ¨

   
  3  

SEC USE ONLY

 

   
  4  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            United States

   

 

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

 

 

  5    SOLE VOTING POWER

 

                1,281,838 (See Item 4)

 

  6    SHARED VOTING POWER

 

                None (See Item 4)

 

  7    SOLE DISPOSITIVE POWER

 

                1,281,838 (See Item 4)

 

  8    SHARED DISPOSITIVE POWER

 

                None (See Item 4)

  9  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            1,281,838 (See Item 4)

   
10  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

 

 

            Not Applicable

 

¨

 

11  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

            8.52%

   
12  

TYPE OF REPORTING PERSON*

 

            IN

   

 

Page 3 of 6 Pages


CUSIP No. 03969P107     Page 4 of 6 Pages

 

Item 1  

(a)

   Name of Issuer:      
     Ardea Biosciences, Inc.      
 

(b)

   Address of Issuer’s Principal Executive Offices:      
    

2483 East Bayshore Road Suite 100

Palo Alto,CA 94303

     
Item 2  

(a) – (c)

   This statement is filed on behalf of the following:      
 

(9)

   Visium Asset Management, LP, a Delaware limited partnership (“VAM”), with its principal business office at Visum Asset Management, LP, 950 Third Avenue, New York, NY 10022. VAM is the investment advisor to each of Visium Balanced Fund, LP (“VBF”), Visium Balanced Offshore Fund, Ltd. (“VBOF”), Visium Long Bias Fund, LP (“VLBF”), Visium Long Bias Offshore Fund, Ltd. (“VLBOF”).      
 

(d)

   Title of Class of Securities:      
     Common Stock, Par Value $.001 Per Share      
 

(e)

   CUSIP Number:      
     03969P107      
Item 3   If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:   
  Not Applicable   

 

Page 4 of 6 Pages


CUSIP No. 03969P107     Page 5 of 6 Pages

 

Item 4    Ownership:      
   VAM      
   (a)    Amount Beneficially Owned:      
      By virtue of its position as investment advisor to each of Visium Balanced Fund, LP, Visium Balanced Offshore Fund, Ltd., Visium Long Bias Fund, LP, Visium Long Bias Offshore Fund, Ltd., VAM may be deemed to beneficially own the 1,281,838 shares of the Company’s Common Stock beneficially owned by Visium Balanced Fund, LP, Visium Balanced Offshore Fund, Ltd., Visium Long Bias Fund, LP, Visium Long Bias Offshore Fund, Ltd.      
   (b)    Percent of Class:      
      8.52%      
   (c)    Number of Shares as to which person has:      
      (i)    sole power to vote or to direct vote:      
         1,281,838 shares      
      (ii)    shared power to vote or to direct vote:      
         None      
      (iii)    sole power to dispose or direct disposition of:      
         1,281,838 shares      
      (iv)    shared power to dispose or to direct disposition of:      
         None      
   Jacob Gottlieb      
   (a)    Amount Beneficially Owned:      
      By virtue of his position as the principal of VAM and the sole managing member of VCM, Mr. Gottlieb may be deemed to beneficially own the 1,281,838 shares of the Company’s Common Stock beneficially owned by VAM.      
   (b)    Percent of Class:      
      8.52 %      
   (c)    Number of Shares as to which person has:      
      (i)    sole power to vote or to direct vote:      
         1,281,838 shares      
      (ii)    shared power to vote or to direct vote:      
         None      
      (iii)    sole power to dispose or direct disposition of:      
         1,281,838 shares      
      (iv)    shared power to dispose or to direct disposition of:      
         None      
Item 5    Ownership of Five Percent or Less of a Class:   
   Not Applicable   
Item 6    Ownership of More than Five Percent on Behalf of Another Person:      
   Not Applicable      
Item 7    Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company:
   Not Applicable
Item 8    Identification and Classification of Members of the Group:      
   Not Applicable      
Item 9    Notice of Dissolution of Group:      
   Not Applicable      
Item 10    Certification:      
   By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.      

 

Page 5 of 6 Pages


CUSIP No. 03969P107     Page 6 of 6 Pages

 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: December 31, 2008

 

VISIUM ASSET MANAGEMENT, LLC     JACOB GOTTLIEB
By:  

/s/ Mark Gottlieb

    By:  

/s/ Mark Gottlieb

  Mark Gottlieb       Mark Gottlieb
  Authorized Signatory       Authorized Representative

 

Page 6 of 6 Pages