FORM 10-Q



             SECURITIES AND EXCHANGE COMMISSION
                    Washington, DC  20549


   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
               SECURITIES EXCHANGE ACT OF 1934


        For the quarterly period ended March 31, 2000


               Commission File Number 0-23666


                        TRIPOS, INC.
   (Exact Name of Registrant as Specified in its Charter)


           Utah                                   43-1454986
(State or Other Jurisdiction of                 (I.R.S. Employer
Incorporation or Organization)                  Identification No.)

                   1699 South Hanley Road
                  St. Louis, Missouri 63144
    (Address of Principal Executive Offices and Zip Code)


                       (314) 647-1099
    (Registrant's Telephone Number, Including Area Code)




Indicate  by check mark whether the registrant (1) has filed  all
reports  required  to be filed by Section  13  or  15(d)  of  the
Securities  Exchange Act of 1934 during the preceding  12  months
(or  for such shorter period that the registrant was required  to
file  such  reports),  and (2) has been subject  to  such  filing
requirement for the past 90 days.

Yes  X              No


Number  of  shares outstanding of the issuer's Common Stock,  par
value $.01 per share, as of March 31, 2000:  3,486,352 shares.




                      TABLE OF CONTENTS



PART I  FINANCIAL INFORMATION,                            Page
   Item 1.  Financial Statements (Unaudited)

Consolidated Balance Sheets at
        March 31, 2000 and December 31, 1999               3

Consolidated Statements of Operations for Three
        Months Ended March 31, 2000 and March 31, 1999     4

Consolidated Statements of Cash Flows for Three Months
        Ended March 31, 2000 and March 31, 1999            5

Notes to Consolidated Financial Statements                 6



Item 2. Management's Discussion and Analysis of
   Financial Condition and Results of Operations           8


PART II  OTHER INFORMATION                                12

SIGNATURES                                                12



                           PART I
                    FINANCIAL INFORMATION

Item 1.  Financial Statements.

               CONSOLIDATED BALANCE SHEETS
                       (In thousands)

                                            Mar. 31,    Dec. 31,
                                             2000         1999
                            ASSETS        (Unaudited)
Current Assets:
   Cash and cash equivalents                $ 6,650     $   813
   Accounts receivable                        9,736      14,182
   Inventory                                  2,993       2,595
   Prepaid expenses                             795         242
   Deferred income taxes                      1,418       1,418
Total current assets                         21,592      19,250

   Notes Receivable-trade                     1,714       2,448
   Notes Receivable-other                     1,799       1,764
   Property and equipment,
     less accumulated depreciation           13,598      13,899
   Capitalized development costs, net           500         572
   Goodwill, net of amortization              1,065       1,082
   Investment in unconsolidated affiliate     2,423       2,423
   Other, net                                   142         144
Total assets                               $ 42,833    $ 41,582


             LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
   Current portion of long-term debt
     and capital leases                     $ 1,238   $   2,245
   Accounts payable                             932       1,443
   Accrued expenses                           2,538       3,187
   Deferred revenue                           5,579       4,832
Total current liabilities                    10,287      11,707

Long-term portion of capital leases             937       1,223
Long-term debt                                3,030       7,001
Long-term deferred revenue                    1,872       2,485
Deferred income taxes                         1,583       1,583

Series-B preferred stock                      9,045          --

Shareholders' equity :
   Common stock                                  35          33
   Additional paid-in capital                19,317      18,431
   Retained deficit                         (3,211)     (1,020)
   Other comprehensive income (loss)           (62)         139
Total shareholders' equity                   16,079      17,583

Total liabilities and shareholders' equity $ 42,833    $ 41,582

See accompanying notes.


Item 1.  Financial Statements (continued)


                 CONSOLIDATED STATEMENTS OF OPERATIONS
                 (In thousands, except per share data)
                              (Unaudited)
                                           Three Months Ended
                                           Mar. 31,     Mar. 31,
                                             2000         1999
Net sales:
   Software licenses                       $ 1,548      $ 1,816
   Support                                   1,929        2,057
   Discovery services                          788        1,363
   Hardware                                    733          919
Total net sales                              4,998        6,155

Operating costs and expenses:
   Cost of sales                             1,189        1,870
   Sales and marketing                       2,584        2,347
   Research and development                  2,295        1,747
   General and administrative                1,222        1,096
Total costs and expenses                     7,290        7,060

Loss from operations                        (2,292)        (905)

Other income, net                              167          120
Loss before income taxes
    and preferred dividends                 (2,125)        (785)

Income tax benefit                              --         (299)
Net loss before preferred dividends         (2,125)        (486)

Preferred dividends                             66
Net loss allocable to common shareholders  $(2,191)      $ (486)
shareholders

Basic and diluted loss per share           $ (0.64)      $(0.15)
Basic and diluted weighted average
  number of shares                           3,400        3,257

See accompanying notes.


          Item 1.  Financial Statements (continued)

            CONSOLIDATED STATEMENTS OF CASH FLOWS
                       (In Thousands)
                         (Unaudited)
                                                Three Months Ended
                                                Mar. 31,      Mar. 31,
                                                  2000          1999
Operating activities:
Net loss                                         $(2,191)      $ (486)
Adjustments to reconcile net loss to net
 cash provided by operating activities:
   Depreciation of property and equipment            473          310
   Amortization of capitalized development
     costs and goodwill                              119          167
   Deferred income taxes                              --           (7)
   Accreted dividends on Series B preferred stock     66           --

Change in operating assets and liabilities:
   Accounts receivable                             4,157        1,928
   Notes receivable-trade                            532         (235)
   Inventories                                      (434)          21
   Prepaid expenses and other current assets        (559)         474
   Accounts payable and accrued expenses          (1,034)        (508)
   Deferred revenue                                  225        1,013
Net cash provided by operating activities          1,345        2,677

Investing activities:
Notes receivable-other                               (34)         (18)
Purchases of property and equipment                 (273)      (1,878)
Capitalized development costs                        (23)        (143)
Acquisition, including investment in
   unconsolidated affiliates                          --         (385)
Net cash used in investing activities               (330)      (2,424)

Financing activities:
   Stock issuance pursuant to stock plans            872           18
   Proceeds from issuance of Series B
       preferred stock                             8,979           --
   Payments on long-term debt and capital leases  (4,959)         (79)
   Issuance of long-term debt                         --          924
Net cash provided by financing activities          4,892          863

Effect of foreign exchange rate changes on
cash and cash equivalents                            (79)        (497)

Net increase in cash and cash equivalents          5,837          619

Cash and cash equivalents at beginning of period     813        1,774
Cash and cash equivalents at end of period       $ 6,650      $ 2,393

See accompanying notes.


Item 1.  Financial Statements (continued)

    NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
            (In thousands, except per share data)


(1)  Summary of significant accounting policies

Organization

      Tripos,  Inc. is a leading provider of integrated discovery
software  products, software consulting services,  and  discovery
research   services   to   the   pharmaceutical,   biotechnology,
agrochemical,  and  other life sciences  industries.  We  combine
information  technology and scientific research to  optimize  and
accelerate  molecular research for the discovery of new  products
by our clients.

     With a strong foundation in cheminformatics, Tripos provides
its  customers  with  what  we believe are  distinct  competitive
advantages.   Our   "chemically intelligent"  discovery  software
tools  are  able  to  manage, analyze and  share  biological  and
chemical information.  Tripos' software consulting services  help
to  organize  data  in  a manner that is conducive  to  discovery
research. Tripos' proprietary chemical compound libraries  couple
Tripos'  molecular design technology and synthesis  capabilities.
Discovery  research  services  leverage  Tripos'  cheminformatics
expertise  in molecular design analysis and medicinal  chemistry.
Together, these services allow our customers to take advantage of
recent  advances  in  high  throughput screening  for  biological
activity  with  a  goal  of  accelerating  the  development   and
commercialization of major new products.

      Our customers, a number of which are industry leaders,  use
our  products and services to reduce product discovery costs  and
time,  and  to accelerate the development of major new  products.
To  date,  Tripos  has  entered  into  strategic  alliances  with
pharmaceutical  and biotechnology companies.   Certain  of  these
contracts  provide  for  recurring  payments  for  products   and
services  over  the  course  of the  contract  term  as  well  as
milestone  payments  or  royalty  arrangements  for  new  product
discoveries.  Tripos has a geographically diverse customer  base,
with approximately half of its revenues derived from European and
other  customers  outside  the  United  States.   Tripos  has   a
worldwide sales force with offices throughout the United  States,
and  in  England, France and Germany, representatives  throughout
the  Pacific  Rim,  and  its Tripos Receptor  Research  chemistry
laboratories in England.

Basis of Presentation

     The accompanying unaudited consolidated financial statements
have   been  prepared  in  accordance  with  generally   accepted
accounting principles for interim financial information and  with
the  instructions to Form 10-Q and Article 10 of Regulation  S-X.
Accordingly,  they  do  not include all of  the  information  and
footnotes required by accounting principles generally accepted in
the  United  States  for complete financial statements.   In  the
opinion of management, all normal recurring adjustments necessary
for  a  fair presentation of such financial statements have  been
included.   Operating  results for the three-month  period  ended
March 31, 2000 are not necessarily indicative of the results that
may be expected for the year ending December 31, 2000.


(2)  Income Taxes

      The  provision  for  income taxes  is  computed  using  the
liability  method.   The  primary  difference  between  financial
statement  and taxable income results from the use  of  different
methods  of  computing  capitalized  development  costs,  accrued
vacation and customer deposits.


(3)  Comprehensive Income

      The components of comprehensive income, net of related tax,
for the three-month periods ended March 31, 2000 and 1999 are  as
follows:

                                                 2000     1999

Net loss allocable to common shareholders    $(2,191)  $ (486)
Foreign currency translation adjustments        (201)    (450)

Comprehensive loss                           $(2,392)  $ (936)



The components of accumulated other comprehensive income, net  of
related  tax,  at  March 31, 2000 and December 31,  1999  are  as
follows:
                                                 2000     1999

Foreign currency translation adjustments       $ (62)    $ 139

Accumulated other comprehensive income (loss)  $ (62)    $ 139


(4)  Earnings Per Share

The   following table  sets forth  the computation of  basic  and
diluted  earnings per  share  for the  quarters  ended March  31,
1999 and 1998.
                                                2000      1999
Numerator:
Numerator for basic earnings  per share-
   net loss allocable to common shareholders $(2,191)   $ (486)
   Add back preferred dividends (Note A)          --       N/A
Numerator for diluted earnings per
   share-net loss                            $(2,191)   $ (486)

Denominator:
Denominator for basic earnings per share-
     weighted average shares                   3,400     3,257
Effect of dilutive securities:
     Employee stock options  (Note B)             --        --
     Preferred shares      (Note A)               --       N/A
Denominator for diluted earnings per share-
     adjusted weighted average shares and
     assumed conversions                       3,400     3,257

Basic    loss per share                      $ (0.64)  $ (0.15)
Diluted  loss per share                      $ (0.64)  $ (0.15)

Note  A: Weighted average shares  outstanding were  not  adjusted
for  the conversion  of the  Series B Preferred  Stock  as  their
inclusion would have been anti-dilutive. Accordingly, the related
preferred  dividends  were  not  added  back to the numerator for
diluted earnings per share.

Note  B:  Employee  stock  options  to  purchase  shares  of  the
Company's common stock were not included in the March 31, 1999 or
2000 computation of diluted earnings per share because the effect
would   have  been  anti-dilutive.   For  additional  disclosures
regarding earnings per share, see the notes to the Company's 1999
consolidated financial statements in its Form 10-K.


(5)  Inventory

     Tripos  maintains a physical inventory of chemical  compound
libraries in various states of completion.  Costs associated with
the  manufacture of compounds are calculated using  the  standard
cost  method  and  are carried at the lower of  cost  or  market.
Compounds  that are acquired from third parties are also  carried
at  the  lower  of cost or market.  Finished Goods inventory  may
periodically  contain costs of computer hardware  that  has  been
acquired for resale to the Company's customers.
                                          Mar. 31,    Dec. 31,
                                              2000        1999

          Raw materials                   $    255     $   256
          Work in process                      408         533
          Finished goods                     2,330       1,806
                                           $ 2,993     $ 2,595



(6)  Long Term Debt

     On  March 22, 1999, Tripos received a credit commitment from
LaSalle Bank that refinanced a prior $12,000 Credit Agreement and
mortgage note.  The credit commitment was for a total of  $15,333
which was broken into three separate secured credit facilities: a
$3,333 real estate mortgage for property with a carrying value of
$4,476,  $4,000  three-year term loan, and an  $8,000  three-year
revolving   line   of   credit.    The   credit   commitment   is
collateralized  by substantially all of Tripos' U.S.  assets  and
stock pledges for each of the U.S. and foreign subsidiaries.  The
commitment  also  required  Tripos  to  meet  certain   financial
covenants,  including  various coverage  ratios  and  a  debt  to
capitalization ratio.  During 1999, Tripos violated the terms  of
the  covenants, however, the bank waived the violations and later
amended the terms of the credit facility.

     The  mortgage note under the current credit commitment calls
for  even  quarterly principal payments based  on  a  twenty-year
amortization schedule that began June 30, 1999.  Borrowings under
the  mortgage  are subject to a variable interest rate  at  LIBOR
plus  2.25%.   An interest rate swap agreement was  entered  into
which  fixed  the interest rate at 7.81%.  The $4,000  term  note
under  the credit commitment was repaid in its entirety in  three
installments; $3,000 during the fourth quarter of  1999  and  the
balance on February 10, 2000.  The revolving line of credit under
the  credit commitment requires quarterly interest-only  payments
with  any  remaining borrowings due at the end of the  three-year
commitment  period.   The  original $8,000  line  of  credit  was
reduced  to  $4,000  effective September 30, 1999.   Availability
under  the  revolving line of credit is based  on  eligible  U.S.
accounts  receivable.  Borrowings under the  term  loan  and  the
revolving line of credit bear interest at variable rates tied  to
LIBOR or the bank's prime rate.  At March 31, 2000, no borrowings
were  outstanding.  For the quarter ending March 31, 2000, Tripos
was  in  violation  of  one covenant that  the  bank  immediately
waived.


(7)  Series B Preferred Stock

     On  February 4, 2000, Tripos issued 409 shares of  Series  B
Preferred  Stock  for  an  aggregate purchase  price  of  $9,000.
Cumulative  dividends of $1.10 per share per  annum  are  payable
upon  the earlier of the conversion or redemption of such  share.
Each share of preferred stock may be converted, at the option  of
the  holder,  into  one  share  of  Tripos'  common  stock.   The
preferred  stock is mandatorily redeemable at the option  of  the
holder  at  a  price of $22 per share plus accreted dividends  on
February 4, 2005 provided that the holder has provided notice  of
its intention to have its shares redeemed on or prior to February
4, 2004.


(8)  Recent Accounting Pronouncements

     In  June  1998,  the  Financial Accounting  Standards  Board
issued  Statement No. 133, "Accounting for Derivative Instruments
and  Hedging  Activities" ("FAS 133"), which is  required  to  be
adopted  in  years beginning after June 15, 1999.  The  FASB  has
since delayed the effective date until years beginning after June
15,  2000,  with  the  issuance of FAS No. 137,  "Accounting  for
Derivative  Instruments  and Hedging Activities-Deferral  of  the
Effective  Date of FAS No. 133".  FAS 133 permits early  adoption
as  of  the  beginning of any fiscal quarter after its  issuance.
Tripos  expects to adopt the new Statement effective  January  1,
2001.   FAS  133 will require us to recognize all derivatives  on
the balance sheet at fair value.  We have not yet determined what
the effect FAS 133 will be on earnings and financial position.



Item  2.   Management's  Discussion  and  Analysis  of  Financial
Condition and Results of Operations


Forward-looking Statements

      The remainder of this report may contain certain statements
that  are  forward-looking and involve risks  and  uncertainties.
Words  such as "expects", "anticipates", "projects", "estimates",
"intends",  "plans", "believes", variations  of  such  words  and
similar expressions are intended to identify such forward looking
statements.   These statements are based on current  expectations
and  projections  made by management and are  not  guarantees  of
future  performance.   Therefore,  actual  events,  outcomes  and
results  may differ materially from what is expressed or forecast
in such forward-looking statements.  Among the factors that could
cause  actual  results  to differ materially  from  the  forward-
looking  statements  are set forth under the caption  "Cautionary
Statements  -  Additional Important Factors to be Considered"  in
Item   7,  Management's  Discussion  and  Analysis  of  Financial
Condition and Results of Operations ("MD&A") in Tripos' Form 10-K
for 1999.  Tripos undertakes no obligation to update any forward-
looking statements in this Form 10-Q.



Overview

     Tripos, Inc. is a leading provider of an integrated array of
discovery  software, software consulting services, and  discovery
research   services   to   the   pharmaceutical,   biotechnology,
agrochemical,   and  other  life  sciences  industries.    Tripos
combines  information  technology  and  scientific  research   to
optimize  and accelerate molecular research for the discovery  of
new products by its clients.

     Tripos generates its revenues from a diversified offering of
products  and  services.  Our foundation is the software  license
and  support  products  we sell to the life sciences  industries.
Over   80%  of  software  license  revenues  are  sold   to   the
pharmaceutical and biotechnology industries; however,  no  single
customer represents more than 10% of revenues to Tripos.   Tripos
licenses  its  software and support in the form of one  to  three
year  renewable  contracts for any of its more than  50  software
modules available for sale.

      Tripos' integration of chemistry and biological data in the
life  sciences industries creates a revenue stream  for  software
consulting services.  Tripos maintains a staff of specialists who
use  its  proprietary  data integration  framework  to  configure
customized  solutions for data management.  Revenue is  generated
on  a  billable  rate per day and is recognized as  services  are
performed.

      Tripos leverages its expertise in chemical compound library
design  technology  to develop and manufacture general  screening
libraries for sale to the life sciences industries.  Its  current
library  of  over  58,000 highly pure and diverse  compounds,  is
marketed under the name LeadQuestT.

      Tripos' sale and manufacture of chemical compound libraries
has  created the opportunity to offer follow-up contract research
services  to  customers  for  design  and  synthesis  of  focused
libraries  for lead optimization.  A contract of this nature  may
be  derived from the follow-up of positive biological activity in
a  LeadQuest  compound  sold  to a  customer  or  may  come  from
compounds originated by the customer.

      In  2000,  Tripos plans to market a comprehensive  research
process  to  its  life  sciences customers  for  rapid  and  cost
effective  discovery.  The process combines advanced informatics,
chemistry  and  biology  products and services,  and  proprietary
discovery    technologies   for   efficient   lead   development,
refinement,  and  optimization. Tripos will also  work  with  its
collaborators to achieve the milestones associated with this type
of  contract.  These would be multi-million dollar contracts  and
may include royalties and milestones.

      In  February 2000, Tripos entered into a strategic alliance
with  LION Biosciences AG to integrate LION's bioinformatics with
Tripos'  cheminformatics  expertise.   The  companies  intend  to
jointly  market their products and services to the life  sciences
industry.   As  part of this alliance, LION made a  $9.0  million
investment in convertible preferred stock of Tripos.  These funds
are being used for general corporate purposes.

      Late  in  1999,  Tripos created a strategic  alliance  with
Cyprotex, a newly formed company whose focus is development of in-
vitro   screens  and  data  modeling  capabilities   to   predict
biological  reactions of new chemical entities.  These  reactions
are essential in determining the survival of new drug candidates.
Tripos  and  Cyprotex will jointly market their services  to  the
drug discovery market.

      Tripos  also  acts  as a reseller of computer  hardware  in
conjunction  with software sales.  Hardware sales  are  generally
made  to facilitate integration of Tripos' software into customer
research  activities  and  are  not  a  focus  of  Tripos'  sales
activities.  Tripos acts merely as an authorized reseller  for  a
single  vendor and does not maintain any inventory.  Accordingly,
margins on these sales are relatively modest.

      Tripos  licenses its discovery software tools to customers,
provides   ongoing  support,  including  upgrades   selected   by
customers, and provides consulting services to its customers that
enable  integration  of  Tripos' discovery  tools  to  customers'
discovery  operations.  Certain long-term software licenses  may,
subject  to certain rules of SOP 97-2 and SOP 98-4, be recognized
over  the  life of the contract.  Tripos generally  expenses  its
research   and   development  costs  associated   with   software
enhancements and new software tools.  Thus, a significant portion
of  the  costs  associated with development  and  enhancement  of
software is accounted for as research and development and not  as
a cost of software sales.

      Tripos  has staffed its worldwide operations to efficiently
execute  its  current  business  plan.   The  quarterly  expenses
include  the fixed costs of research and development for software
development, software consulting services, and contract research.
Tripos  believes that its selling and administrative  costs  will
remain  constant on a quarterly basis.  Variability in  quarterly
expenses  primarily occurs in relation to the level  of  revenues
for sales compensation and bonuses.

      Over  the  past  two  years Tripos  has  used  its  capital
resources  to  fund  investments in  the  building  of  chemistry
production  facilities,  chemical compound  library  inventories,
collaborative  drug  discovery programs,  staffing  new  business
segments,  and  investments  in Arena  Pharmaceuticals.   In  the
future,  Tripos  expects to dedicate available cash  to  maintain
capital infrastructure and conduct operations.

      Tripos' revenues and expenses vary from quarter to  quarter
depending  upon,  among  other things, the  timing  of  customers
budget  processes, the success of our sales efforts, the  lengthy
sales  cycle  and  Tripos'  ability to  influence  customers  and
prospective customers to make decisions to outsource portions  of
their  discovery  process,  the size of  the  customers'  capital
expenditure budgets, the ability to produce compound libraries in
a  timely  manner, market acceptance of new products and enhanced
versions  of  existing  products,  the  timing  of  new   product
introductions  by  Tripos and other vendors, changes  in  pricing
policies by Tripos, partners and other vendors, consolidation  in
customer  base,  and changes in general economic and  competitive
conditions.  In addition, Tripos may choose to negotiate a  long-
term software license contract that may, subject to certain rules
of  SOP 97-2 and SOP 98-4, be recognized ratably over the life of
the  contract.  See Note 1 of the Notes to Consolidated Financial
Statements  for the year ended  December 31, 1999 for  a  further
discussion   of  revenue  recognition  policies.   A  substantial
portion of revenues for each quarter is attributable to a limited
number of orders and tends to be realized toward the end of  each
quarter.  Thus, even short delays or deferrals of sales near  the
end  of  a  quarter  can  cause quarterly  results  to  fluctuate
substantially.  Tripos' quarterly results can be effected by  the
mix of its revenue components.


Year 2000 compliance

     In  prior years, Tripos discussed the nature and progress of
its  plans to become Year 2000 ready.  In late 1999, we completed
our  remediation  and testing of systems.  As a result  of  those
planning   and   implementation  efforts,   we   experienced   no
significant   disruptions   in   mission   critical   information
technology   systems  and  believe  those  systems   successfully
responded  to the Year 2000 date change.  The cost of remediating
our  systems was included in the capital and expense budgets  for
1999 and did not materially differ from prior years.  We are  not
aware  of any material problems resulting from Year 2000  issues,
either  with  products, internal systems,  or  the  products  and
services  of  third  parties.  Tripos will  continue  to  monitor
mission critical systems throughout the Year 2000 to ensure  that
any  latent  Year  2000  matters that  may  arise  are  addressed
promptly.


Results of Operations

     Net sales for the first quarter of 2000 were $4,998 compared
to  $6,155  in 1999.  The Company experienced decreases primarily
in  software  licenses  and discovery services  revenues  in  the
quarter.

     For the three months ended March 31, 2000, software licenses
sales  decreased  14.7% to $1,548.  Software  license  sales  are
historically  volatile in the first quarter as  customer  capital
budgets   are   finalized  and  apportioned.   Support   revenues
decreased 6.2% to $1,929 compared to the first three-month period
in  1999.   Discovery Services sales accounted for  $788  in  the
first  quarter  of 2000 and $1,363 in the same  period  in  1999.
This  decrease  in Discovery Service business was  attributed  to
multiple  large orders of promotionally priced compounds  in  the
first quarter of 1999.  Hardware sales decreased by 20.1% to $733
for   the  first  quarter  2000.   Sales  to  existing  customers
represent  89%  of  total  net sales for the  three-month  period
ending March 31, 2000.

      Net  sales  for the Company's activities outside  of  North
America  represented  approximately 53.4%  for  the  first  three
months  of  2000 compared to 58.5% for the same period  in  1999.
Net sales in Europe decreased 30.8% for the first three months of
2000  compared to 1999 and accounted for 41.2% and 48.4%  of  net
sales for the three-month periods in 2000 and 1999, respectively.
Sales in first quarter 2000 were adversely affected by the timing
of  several  large orders that are under continuing  negotiation.
Net  sales in the Pacific Rim, principally Japan, decreased  2.0%
compared  to  the  first three months of 1999 and  accounted  for
12.2% and 10.1% of net sales for the respective periods.

      Cost  of sales for the three-month period ending March  31,
2000  decreased 36.4% compared to the same period in 1999.   Cost
of  sales was $1,189 and $1,870 for the first quarter of 2000 and
1999,  respectively.   This change was  due  to  decreased  costs
directly  related  to  lower  sales  of  hardware  and  discovery
services compared to the prior year.  Cost of sales as a  percent
of  net sales was 23.8% and 30.4% for the three-month periods  in
2000 and 1999, respectively.

Gross  profit  margin  percentage  for  the  first  quarter  2000
increased  to  76.2% from 69.6% of total net sales in  the  first
quarter of 1999.  This increase in gross profit percentage is due
to the decreases in cost of sales described above.

     Sales  and  marketing  expenses increased  10.1%  to  $2,584
compared to $2,347 for the three-month period in 1999.  Sales and
marketing  expenses as a percentage of net sales were  51.7%  and
38.1% for the three-month periods in 2000 and 1999, respectively.
The  increase in percent to sales is primarily due to  lower  net
sales in the first quarter of 2000.

      Research and development expenses increased to $2,295  from
$1,747 and represented 45.9% and 28.4% of net sales for the three-
month  periods in 2000 and 1999, respectively.  The  increase  in
expenses  as  a  percentage of net sales  reflects  increases  in
chemistry staff and research work at Tripos Receptor Research.

     General  and  administrative  expenses  increased  11.5%  to
$1,222 for the first quarter of 2000 compared to $1,096 in  1999,
and  represent  24.4% and 17.8% of net sales for  the  respective
periods.  The increase in G & A expenses in the period is due  to
the addition of administrative staff in Europe.

     Other income (expense) increased from $120 of income for the
first quarter in 1999 to $167 of income for the comparable period
in  2000.   This  change was due to foreign currency  transaction
gains in the current period partially offset by a net increase in
interest expense.

      Income tax benefit was $299,000 for the three-month  period
in  1999,  which represented an effective tax rate  of  38%.   No
income tax benefit was recorded in the first quarter of 2000  due
to  the  recognition of a valuation allowance on the  future  tax
benefits of net operating losses in the U.K.  Management believes
that  the  net operating loss carryforwards will be  utilized  in
future  periods.  The effective tax rate utilized for the quarter
ended March 31, 2000 reflects management's estimate of such  rate
for the fiscal year ending December 31, 2000.



Liquidity, Capital Resources and Capital Commitments

      For  the  three-month in period ending March 31, 2000,  net
cash provided by operations was $1,345 primarily due to decreases
in  trade  accounts  and notes receivable of  $4,689  along  with
depreciation, amortization and increases in deferred  revenue  of
$473,  $119,  and  $225  respectively, which  were  offset  by  a
decrease  in accounts payable and accrued expenses of $1,034  and
increases  in  prepaid  expenses of $559 and  inventory  of  $434
coupled  with  the  net  loss of $2,191.  Notes  receivable-trade
represent  the  long-term portion of revenue generated  from  the
Company's  sales  of extended access contracts  to  its  software
technologies.   For  the  same period  in  1999,  a  decrease  in
accounts  receivable  of  $1,928,  along  with  depreciation  and
amortization  and an increase in deferred revenue of  $310,  $167
and  $1,013, respectively, were offset by a decrease in  accounts
payable  and  accrued  expenses of $508, an increase  in  prepaid
expenses  of  $474 and a net loss of $486 resulting in  net  cash
provided by operations of $2,677.

     Cash used by investing activities was principally related to
property and equipment needed throughout the company.

     The  Company  anticipates that current  working  capital  of
$11,305,  together  with  continued cash  flow  from  operations,
payments  to be received under current and contemplated strategic
partnership  contracts, the $4,000 line of credit and  access  to
equipment  lease  financing,  will  be  sufficient  to  fund  its
operations  for  at  least  the  next  twelve  months.    For   a
description  of certain factors that could adversely  affect  the
Company's   future capital requirements and the adequacy  of  its
available  funds, including factors that are beyond the Company's
control,   see  the  discussion  under  the  caption  "Cautionary
Statements-Additional Important Factors to be Considered" in  the
Company's Annual Report on Form 10-K for the year ended  December
31, 1999.



                           PART II
                      OTHER INFORMATION

Item 1.   Legal Proceedings
          The Company is not a party to any material litigation
          and is not aware of any threatened material litigation.

Item 2.   Changes in Securities
          None

Item 3.   Defaults upon Senior Securities
          None

Item 4.   Submission of Matters to a Vote of Security Holders
          None

Item 5.   Other Information
          None

Item 6.   Exhibits and Reports on Form 8-K

          (a) List of Exhibits

               27   Financial Data Schedule

          (b) A Form 8-K was filed on February 11, 2000 reporting
          that Tripos, Inc. announced that it had entered into an
          agreement   to  sell  409,091  shares   of   Series   B
          Convertible Preferred Stock to Lion Bioscience AG at  a
          price  of  $22  per share in a private placement.   The
          proceeds  of  $9.0 million were to be used for  general
          corporate purposes.



                        TRIPOS, INC.
                         SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act
of  1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.

                              TRIPOS, INC.


Date:      May 12, 2000       /s/ John P. McAlister
                              President and
                              Chief Executive Officer


Date:      May 12, 2000       /s/ Colleen A. Martin
                              Chief Financial Officer, Secretary