Check the appropriate box to designate the rule pursuant to which
this Schedule is filed:
* 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).
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1.
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Names of Reporting Persons.
Palo Alto Investors, LLC
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2. Check the Appropriate Box if
a Member of a Group (See Instructions)
(a)
(b)
X
3. SEC Use Only
4. Citizenship or Place of Organization
California
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Number of
Shares
Beneficially
Owned by
Each Reporting
Person With:
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5. Sole Voting Power
0
|
|
6. Shared Voting Power
290,916
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|
7. Sole Dispositive Power
0
|
|
8. Shared Dispositive Power
290,916
|
9. Aggregate Amount Beneficially
Owned by Each Reporting Person
290,916
10. Check if the Aggregate Amount
in Row (9) Excludes Certain Shares (See
Instructions)
______
11. Percent of Class Represented
by Amount in Row (9)
0.4%
12. Type of Reporting Person (See
Instructions)
OO, IA
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|
1.
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Names of Reporting Persons.
Patrick Lee, MD
|
2. Check the Appropriate Box if
a Member of a Group (See Instructions)
(a)
(b)
X
3. SEC Use Only
4. Citizenship or Place of Organization
U.S.A.
|
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With:
|
5. Sole Voting Power
0
|
|
6. Shared Voting Power
290,916
|
|
7. Sole Dispositive Power
0
|
|
8. Shared Dispositive Power
290,916
|
9. Aggregate Amount Beneficially
Owned by Each Reporting Person
290,916
10. Check if the Aggregate Amount
in Row (9) Excludes Certain Shares (See
Instructions)
______
11. Percent of Class Represented
by Amount in Row (9)
0.4%
12. Type of Reporting Person (See
Instructions)
IN, HC
|
|
1.
|
Names of Reporting Persons.
Anthony Joonkyoo Yun, MD
|
2. Check the Appropriate Box if
a Member of a Group (See Instructions)
(a)
(b)
X
3. SEC Use Only
4. Citizenship or Place of Organization
U.S.A.
|
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With:
|
5. Sole Voting Power
0
|
|
6. Shared Voting Power
290,916
|
|
7. Sole Dispositive Power
0
|
|
8. Shared Dispositive Power
290,916
|
9. Aggregate Amount Beneficially
Owned by Each Reporting Person
290,916
10. Check if the Aggregate Amount
in Row (9) Excludes Certain Shares (See
Instructions)
______
11. Percent of Class Represented
by Amount in Row (9)
0.4%
12. Type of Reporting Person (See
Instructions)
IN, HC
Item 1.
(a) Name of Issuer
ViroPharma Incorporated
(b) Address of Issuer’s Principal
Executive Offices
730 Stockton Drive, Exton, PA 19341
Item 2.
(a) The names of the persons filing
this statement are:
Palo Alto Investors, LLC (“PAI”)
Patrick Lee, MD
Anthony Joonkyoo Yun, MD
(collectively, the “Filers”).
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(b)
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The principal business office of the Filers is located at:
470 University Avenue, Palo Alto, CA 94301
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(c)
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For citizenship of Filers, see Item 4 of the cover sheet for each Filer.
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(d)
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This statement relates to shares of Common Stock of the Issuer (the “Stock”).
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(e) The CUSIP number of the Issuer is:
928241108
Item 3. If this statement is
filed pursuant to rule 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a) [ ] Broker or dealer registered
under section 15 of the Act (15 U.S.C. 78o).
(b) [ ] Bank as defined in section
3(a)(6) of the Act (15 U.S.C. 78c).
(c) [ ] Insurance company as
defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
(d) [ ] Investment company registered
under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e) [
x
] An investment
adviser in accordance with section 240.13d-1(b)(1)(ii)(E) (as to PAI).
(f) [ ] An employee benefit plan
or endowment fund in accordance with section 240.13d-1(b)(1)(ii)(F).
(g) [
x
] A parent holding
company or control person in accordance with 240.13d-1(b)(1)(ii)(G) (as to Dr. Lee and Dr. Yun).
(h) [ ] A savings association
as defined in section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813).
(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 (15 U.S.C. 80a-3).
(j) [ ] A non-U.S. institution
in accordance with §240.13d-1(b)(ii)(J).
(k) [ ] Group, in accordance
with Rule 13d-1(b)(1)(ii)(K).
If filing as a non-U.S. institution
in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution _______________________________________________________________.
Item 4. Ownership.
See Items 5-9 and 11 of the cover page for each Filer.
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 five percent of the class of securities, check
the following [
X
].
Item 6. Ownership of More than
Five Percent on Behalf of Another Person.
PAI is a registered investment adviser and is the general partner
and investment adviser of investment limited partnerships and is the investment adviser to other investment funds. PAI’s
clients have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Stock.
No client separately holds more than five percent of the outstanding Stock.
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.
Dr. Lee and Dr. Yun co-manage PAI. The Filers are filing this Schedule
13G jointly, but not as members of a group, and each of them expressly disclaims membership in a group. Each Filer disclaims beneficial
ownership of the Stock, except to the extent of that Filer’s pecuniary interest therein.
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 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.
Exhibits:
Exhibit A Joint Filing Agreement
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 14, 2014
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PALO ALTO INVESTORS, LLC
By: /s/ Kai Wu, Chief Compliance
Officer
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/s/ Patrick Lee, MD
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/s/ Anthony Joonkyoo Yun, MD
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EXHIBIT A
AGREEMENT REGARDING JOINT FILING
OF STATEMENT ON SCHEDULE 13D OR 13G
The undersigned agree to file jointly with
the Securities and Exchange Commission (the “SEC”) any and all statements on Schedule 13D or Schedule 13G (and any
amendments or supplements thereto) required under section 13(d) of the Securities Exchange Act of 1934, as amended, in connection
with purchases and sales by the undersigned of the securities of any issuer until such time as the undersigned file with the SEC
a statement terminating this Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G. For that purpose, the undersigned
hereby constitute and appoint Palo Alto Investors, LLC, a California limited liability company, as their true and lawful agent
and attorney-in-fact, with full power and authority for and on behalf of the undersigned to prepare or cause to be prepared, sign,
file with the SEC and furnish to any other person all certificates, instruments, agreements and documents necessary to comply with
section 13(d) and section 16(a) of the Securities Exchange Act of 1934, as amended, in connection with said purchases and sales,
and to do and perform every act necessary and proper to be done incident to the exercise of the foregoing power, as fully as the
undersigned might or could do if personally present, until such time as the undersigned file with the SEC a statement terminating
this Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G.
Dated: February 14, 2014
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PALO ALTO INVESTORS, LLC
By: /s/ ai Wu, Chief Compliance Officer
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/s/ Patrick Lee, MD
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/s/ Anthony Joonkyoo Yun, MD
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