-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Binw0OnoYWopjd5OosLtjVSvjn1LMDNL5Nh/oeLRrEr6TSTJmfOHQKugnAbMBdgZ iViEf7jkSGAx3JObrV/0pQ== 0001193125-08-028963.txt : 20080213 0001193125-08-028963.hdr.sgml : 20080213 20080213132742 ACCESSION NUMBER: 0001193125-08-028963 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080213 DATE AS OF CHANGE: 20080213 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: COLLAGENEX PHARMACEUTICALS INC CENTRAL INDEX KEY: 0001012270 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 521758016 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-47825 FILM NUMBER: 08603134 BUSINESS ADDRESS: STREET 1: 41 UNIVERSITY DRIVE CITY: NEWTON STATE: PA ZIP: 18940 BUSINESS PHONE: 2155797388 MAIL ADDRESS: STREET 1: 41 UNIVERSITY DRIVE CITY: NEWTON STATE: PA ZIP: 18940 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: TALON ASSET MANAGEMENT, LLC CENTRAL INDEX KEY: 0001007614 IRS NUMBER: 203708262 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 1 N FRANKLIN STREET 2: SUITE 900 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3124225400 MAIL ADDRESS: STREET 1: 1 N FRANKLIN SUITE 900 CITY: CHICAGO STATE: IL ZIP: 60606 FORMER COMPANY: FORMER CONFORMED NAME: TALON ASSET MANAGEMENT INC DATE OF NAME CHANGE: 19960212 SC 13G/A 1 dsc13ga.txt COLLAGENEX PHARMACEUTICALS, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 3)* CollaGenex Pharmaceuticals, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 19419B100 ----------------------------- (CUSIP Number) December 31, 2007 - -------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [_] 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 the disclosures provided in a prior cover page. The information required in 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. 19419B100 13G - ------------------------------------------------------------- 1 NAME OF REPORTING PERSON Talon Asset Management, LLC - ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] Not Applicable (b) [_] - ------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------- 5 SOLE VOTING POWER None ---------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY 276,723 OWNED BY ---------------------------- EACH 7 SOLE DISPOSITIVE POWER REPORTING PERSON None WITH ---------------------------- 8 SHARED DISPOSITIVE POWER 276,723 - ------------------------------------------------------------------------------ 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 276,723 - ------------------------------------------------------------------------------ 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) 1.3% - ------------------------------------------------------------------------------ 12 TYPE OF REPORTING PERSON* IA - ------------------------------------------------------------------------------ Page 2 of 6 Pages Item 1 (a) Name of Issuer: CollaGenex Pharmaceuticals, Inc. (the "Issuer") Item 1 (b) Address of Issuer's Principal Executive Offices: 41 University Drive Newton, PA 18940 Item 2 (a) Name of Person Filing: Talon Asset Management, LLC ("Talon") Item 2 (b) Address of Principal Business Office: Talon is located at: One North Franklin, Suite 900 Chicago, Illinois 60606 Item 2 (c) Citizenship: Talon is a Delaware limited liability company. Item 2 (d) Title of Class of Securities: Common Stock Item 2 (e) CUSIP Number: 19419B100 Item 3 Type of Person: (a) [_] Broker or dealer registered under section 15 of the Act (b) [_] Bank as defined in section 3(a)(6) of the Act (c) [_] Insurance Company as defined in section 3(a)(19) of the Act (d) [_] Investment company registered under section 8 of the Investment Company Act of 1940 (e) [X] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E) (f) [_] An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F) (g) [_] A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G) (h) [_] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (i) [_] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (j) [_] Group, in accordance with 13d-1(b)(1)(ii)(J) Page 3 of 6 Pages Item 4 Ownership (at December 31, 2007): (a) Amount owned "beneficially" within the meaning of rule 13d-3: 276,723 shares (b) Percent of class: 1.3% (based on 21,473,546 shares of common stock outstanding, as of November 1, 2007, as reported in the Issuer's Form 10-Q for the quarterly period ended September 30, 2007) (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: none (ii) shared power to vote or to direct the vote: 276,723 (iii) sole power to dispose or to direct the disposition of: none (iv) shared power to dispose or to direct disposition of: 276,723 Item 5 Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following [X]. 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 Page 4 of 6 Pages Item 10 Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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 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: February 12, 2008 The undersigned, on the date above written, agrees and consents to the filing on its behalf of this Schedule 13G in connection with its beneficial ownership of the security reported herein. TALON ASSET MANAGEMENT, LLC /s/ Terry Diamond ------------------------------ Signature Terry Diamond/Chairman ------------------------------ Name/Title Page 6 of 6 Pages -----END PRIVACY-ENHANCED MESSAGE-----