UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 2)* Hybridon, Inc. -------------- (Name of Issuer) Common Stock ------------ (Title of Class of Securities) 44860M801 --------- (CUSIP Number) December 31, 2000 ----------------- (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 on 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. 44860M801 13G Page 2 of 3 Pages - ------------------- ----------------- - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Pecks Management Partners Ltd. 11-3015963 - ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [ ] (b)[ ] Not applicable - ---------- --------------------------------------------------------------------- 3 SEC USE ONLY - ---------- --------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION New York - -------------------- ------ ---------------------------------------------------- 5 SOLE VOTING POWER 4,337,923 ------ ---------------------------------------------------- NUMBER OF 6 SHARED VOTING POWER SHARES BENEFICIALLY Not applicable OWNED BY EACH ------ ---------------------------------------------------- REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH 4,337,923 ------ ---------------------------------------------------- 8 SHARED DISPOSITIVE POWER Not applicable - ---------- --------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,337,923 - ---------- --------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] Not applicable - ---------- --------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 19.77% - ---------- --------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IA - ---------- ---------------------------------------------------------------------

PECKS MANAGEMENT PARTNERS LTD. PAGE 3 OF 3 Item 1a. Hybridon, Inc. Item 1b 155 Fortune Boulevard Milford, MA 01757 Item 2a Pecks Management Partners Ltd. Item 2b One Rockefeller Plaza, Suite 900 New York, NY 10020 Item 2c New York Item 2d Common Stock* *We hold securities convertible into common stock Item 2e CUSIP: 44860M801 Item 3e Investment Adviser Registered under Section 203 of the Investment Advisers Act of 1940 Item 4 a 4,337,923 b 19.77% c i 4,337,923 ii Not Applicable iii 4,337,923 iv Not Applicable Item 5 Not applicable Items 6 The Common Stock as to which this Schedule relates are owned by four (4) investment advisory clients of Pecks, which clients would received dividends and the proceeds from the sale of such shares. Two such clients, Delaware State Employees' Retirement Fund, The Declaration of Trust for the Defined Benefit Plans of ICI American Holdings are known to have such interest with respect to more than 5% of the class. Item 7-9 Not applicable Item 10 "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." After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth is true, complete and correct. February 13, 2001 /s/ Robert J. Cresci ------------------------------ Robert J. Cresci Principal