SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D/A
(RULE 13D-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(a) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(a)(1)
XTL BIOPHARMACEUTICALS LTD.
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(Name of Issuer)
AMERICAN DEPOSITORY RECEIPTS,
EACH REPRESENTING TEN ORDINARY SHARES, PAR VALUE NIS 0.02
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(TITLE OF CLASS OF SECURITIES)
98386D109
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(CUSIP NUMBER)
JOSEPH EDELMAN, 499 PARK AVENUE, 25TH FLOOR, NEW YORK, NY 10022, (646) 205-5300
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(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED
TO RECEIVE NOTICE AND COMMUNICATIONS)
NOVEMBER 18, 2008
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(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition that is the subject of this Schedule 13D/A, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box. [ ]
Note: Schedules filed in paper format shall include a signed original and five
copies of the Schedule, including all exhibits. SEE Rule 13d-7(b) for other
parties to whom copies are to be sent.
CUSIP No. 98386D109 13D/A Page 2 of 7 Pages
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1.
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
PERCEPTIVE ADVISORS LLC
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2.
CHECK THE APPROPRIATE BOX IF A GROUP*
(a)
(b)
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3. SEC USE ONLY
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4.
SOURCES OF FUNDS
OO (Funds from Investment Advisory Clients).
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5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
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6.
CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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NUMBER OF 7.
SHARES SOLE VOTING POWER
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BENEFICIALLY 8.
OWNED BY SHARED VOTING POWER 510,000
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EACH 9.
REPORTING SOLE DISPOSITIVE POWER
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PERSON WITH 10.
SHARED DISPOSITIVE POWER 510,000
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11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 510,000
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12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES *
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13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.17%
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14.
TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 98386D109 13D/A Page 3 of 7 Pages
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1.
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
JOSEPH EDELMAN
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2.
CHECK THE APPROPRIATE BOX IF A GROUP* (a)
(b)
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3. SEC USE ONLY
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4.
SOURCES OF FUNDS
OO
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5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
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6.
CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
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NUMBER OF 7.
SHARES SOLE VOTING POWER 0
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BENEFICIALLY 8.
OWNED BY SHARED VOTING POWER 510,000
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EACH 9.
REPORTING SOLE DISPOSITIVE POWER 0
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PERSON WITH 10.
SHARED DISPOSITIVE POWER 510,000
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11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 510,000
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12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES *
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13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.17%
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14.
TYPE OF REPORTING PERSON*
IN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 98386D109 13D/A Page 4 of 7 Pages
ITEM 1 SECURITY AND ISSUER
This Schedule 13D/A relates to the ordinary shares, par value NIS 0.02
(the "Ordinary Shares") (represented by ownership of American Depository
Receipts), of XTL Biopharmaceuticals Ltd. (the "Issuer"). The address of the
principal executive offices of the Issuer is 711 Executive Blvd., Suite Q,
Valley Cottage, NY 10989.
ITEM 2 IDENTITY AND BACKGROUND
(a) The names of the persons filing this Schedule 13D/A (the
"Schedule") are Perceptive Advisors LLC, a Delaware limited liability company
(the "Investment Manager") and Joseph Edelman, the Managing Member of the
Investment Manager. Such reporting persons are collectively referred to herein
as the "Reporting Persons."
The Investment Manager, in its capacity as investment manager of
Perceptive Life Sciences Master Fund Ltd., a Cayman Islands company (the
"Fund"), and to an account of First New York Trading, LLC (the "FNY Account"),
has sole power to vote and dispose of the Ordinary Shares held by the Fund and
the FNY Account. The Investment Manager disclaims any economic interest in or
beneficial ownership of the Ordinary Shares covered by this Schedule.
(b) The business address of the Reporting Persons is 499 Park Avenue,
25th Floor, New York, NY 10022.
(c) This Schedule is filed on behalf of the Investment Manager, Mr.
Edelman, the Fund and the FNY Account. The Fund and FNY Account are the record
and direct beneficial owners of the Ordinary Shares reported herein. The
Investment Manager is the investment manager to the Fund and the FNY Account.
Mr. Edelman is the Managing Member of the Investment Manager. The principal
business of the Investment Manager is purchasing, holding and selling securities
for investment purposes. The principal business of each of the Fund and the FNY
Account is to invest in securities.
(d) During the past five years none of the Reporting Persons has been
convicted in a criminal proceeding.
(e) During the past five years none of the Reporting Persons has been a
party to a civil proceeding as a result of which it is subject to a judgment,
decree or final order enjoining it from or mandating activities subject to
federal or state securities laws, or finding it in violation of such laws.
(f) Perceptive Advisors LLC is organized under the laws of Delaware,
USA. Mr. Edelman is a citizen of the United States of America.
ITEM 3 SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The Fund and the FNY Account sold the Ordinary Shares in open market
transactions.
CUSIP No. 98386D109 13D/A Page 5 of 7 Pages
ITEM 4 PURPOSE OF TRANSACTION
The Reporting Persons sold the Ordinary Shares of the Issuer in the
ordinary course of business.
The Reporting Persons expect to acquire or dispose of additional
Ordinary Shares via open-market transactions from time to time. However, there
is no timetable or pre-arranged plan related to the purchase or sale of
additional Ordinary Shares. Such decisions will be made based on trading
activity and the relative value of the Ordinary Shares, as defined by market
conditions.
ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
(a)-(b) The Reporting Persons may be deemed, for purposes of Rule 13d-3
under the Securities Exchange Act of 1934, as amended, to be the beneficial
owners of an aggregate of 510,000 Ordinary Shares as of November 21, 2008, which
represent 0.17% of the Issuer's outstanding Ordinary Shares. Mr. Edelman
beneficially owns 510,000 Ordinary Shares (comprised of 510,000 Ordinary Shares
held by the Fund).
The percentage calculation was based on the number of Ordinary Shares
the Issuer reported as outstanding on its Form S-8 as filed with the Commission
on October 28, 2008. The amount of outstanding Ordinary Shares reported on such
Form was 292,805,326 as of June 30, 2008.
Sole Shared Sole Shared
Voting Voting Dispositive Dispositive
Power Power Power Power
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Perceptive Advisors LLC 0 510,000 0 510,000
Joseph Edelman 0 510,000 0 510,000
The aggregate amount of shares owned by the Reporting Persons is 510,000.
(c) Except as set forth below, there have been no transactions in the
Ordinary Shares by any of the Reporting Persons during the past sixty days.
CUSIP No. 98386D109 13D/A Page 6 of 7 Pages
During the past sixty days, the Reporting Persons effected the
following sales of Ordinary Shares in open market transactions:
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DATE SHARES SOLD PRICE
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11/18/2008 2,974 0.159
11/18/2008 40,000 0.1614
11/18/2008 194,325 0.14095
11/18/2008 40,000 0.1528
11/18/2008 29,957 0.1528
11/18/2008 2,468,136 0.140936
11/18/2008 269,645 0.15285
11/19/2008 960,000 0.15280
11/19/2008 71,100 0.1489
11/19/2008 50,000 0.1551
11/21/2008 960,000 0.14890
11/21/2008 925,926 0.1526
(d) Not applicable.
(e) The Reporting Persons ceased to be beneficial owners of more than
five percent of the Ordinary Shares on November 21, 2008.
ITEM 6 CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER
None.
ITEM 7 MATERIAL TO BE FILED AS EXHIBITS
Joint Filing Agreement, dated as of December 3, 2008, by and among
Perceptive Advisors LLC and Joseph Edelman.
CUSIP No. 98386D109 13D/A Page 7 of 7 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.
December 3, 2008
Date
/s/ Perceptive Advisors LLC
Signature
Joseph Edelman/Managing Member
Name/Title
December 3, 2008
Date
/s/ Joseph Edelman
Signature
Joseph Edelman
Name/Title
The original statement shall be signed by each person on whose behalf
the statement is filed or his authorized representative. If the statement is
signed on behalf of a person by his authorized representative other than an
executive officer or general partner of the filing person, evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.
NOTE: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. SEE ss.240.13d-7 for
other parties for whom copies are to be sent.
INDEX TO EXHIBITS
Exhibit 1 Joint Filing Agreement, dated as of December 3, 2008, by and
among Perceptive Advisors LLC and Joseph Edelman.
EXHIBIT 1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) promulgated under the Securities Exchange
Act of 1934, as amended, the persons named below agree to the joint filing on
behalf of each of them a Statement on Schedule 13D/A (including amendments
thereto) with regard to the Ordinary Shares of XTL Biopharmaceuticals Ltd., and
further agree that this Joint Filing Agreement be included as an Exhibit to such
joint filings. In evidence thereof, the undersigned, being duly authorized,
hereby execute this Agreement as of December 3, 2008.
December 3, 2008
Date
/s/ Perceptive Advisors LLC
Signature
Joseph Edelman/Managing Member
Name/Title
December 3, 2008
Date
/s/ Joseph Edelman
Signature
Joseph Edelman
Name/Title