UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G
                                 (Rule 13d-102)

                        Information Statement Pursuant to
                              Rules 13d-1 and 13d-2
                    Under the Securities Exchange Act of 1934
                               (Amendment No. 1)*

                       NEUROBIOLOGICAL TECHNOLOGIES, INC.
                                (Name of Issuer)

                                  COMMON STOCK
                         (Title of Class of Securities)

                                   64124W 10 6
                                 (CUSIP Number)



*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).





                                  SCHEDULE 13G

CUSIP NO. 64124W 10 6                                          Page 2 of 4 Pages
NEUROBIOLOGICAL TECHNOLOGIES, INC.



1.       NAME OF REPORTING PERSON
         S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

                  NEW YORK LIFE INSURANCE COMPANY

                  13-5582869

2.       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*    (a) [ ]
                                                              (b) [ ]

3.       SEC USE ONLY

4.       CITIZENSHIP OR PLACE OF ORGANIZATION

                  NEW YORK

NUMBER OF                  5.       SOLE VOTING POWER                    953,750
SHARES
BENEFICIALLY               6.       SHARED VOTING POWER                        0
OWNED BY
EACH                       7.       SOLE DISPOSITIVE POWER               953,750
REPORTING
PERSON                     8.       SHARED DISPOSITIVE POWER                   0
WITH

9.       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
         REPORTING PERSON                                                953,750
         (INCLUDES ADDITIONAL 400,000 SHARES OF SERIES A PREFERRED
         STOCK AND 160,000 WARRANTS ACQUIRED IN 1999)

10.      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
         EXCLUDES CERTAIN SHARES* [ ]

11.      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9                   5.81%

12.      TYPE OF REPORTING PERSON*

                  IC

                      *SEE INSTRUCTIONS BEFORE FILLING OUT





                                  SCHEDULE 13G

CUSIP NO. 64124W 10 6                                          Page 3 of 4 Pages
NEUROBIOLOGICAL TECHNOLOGIES, INC.


Item 1(a)       Name of Issuer:     Neurobiological Technologies, Inc.

Item 1(b)       Address of Issuer's principal executive offices:

                3260 Blume Drive, Suite 500
                Richmond, California 94806

Item 2(a)       Name of person filing:

                                    NEW YORK LIFE INSURANCE COMPANY

Item 2(b)       Address of principal business office:

                                    51 Madison Avenue, Room 206
                                    New York, NY  10010

Item 2(c)      Citizenship:  NEW YORK

Item 2(d)      Title of class of securities:  COMMON STOCK

Item 2(e)      Cusip No.:  64124W 10 6

Item 3         Type of Person: INSURANCE COMPANY AS DEFINED IN SECTION 3(A)(19)
                              OF THE ACT

Item 4(a)      Amount beneficially owned:                     953,750

Item 4(b)      Percent of class:                                5.81%

Item 4(c)      (i)    sole power to vote:                     953,750
               (ii)   shared power to vote:                         0
               (iii)  sole power to dispose:                  953,750
               (iv)   shared power to dispose:                      0

Item 5         Ownership of 5 percent or less of a class:   NOT APPLICABLE

Item 6         Ownership of more than 5 percent on behalf of another person: NOT
               APPLICABLE

Item 7         Identification and classification of subsidiary:  NOT APPLICABLE

Item 8         Identification and classification of members of the group:  NOT
               APPLICABLE




                                  SCHEDULE 13G

CUSIP NO. 64124W 10 6                                          Page 4 of 4 Pages
NEUROBIOLOGICAL TECHNOLOGIES, INC.


Item 9         Notice of dissolution of the 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  acquired in the
               ordinary course of business and were not acquired for the purpose
               of and do not have the  effect of  changing  or  influencing  the
               control of the issuer of such securities and were not acquired in
               connection  with or as a participant  in any  transaction  having
               such purpose or effect.

                                    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.

Dated: February 9, 2001                          NEW YORK LIFE INSURANCE COMPANY


                                                 By:  /s/ William Y. Cheng
                                                      --------------------------
                                                      Name:  William Y. Cheng
                                                      Title: Vice President