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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



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<P align="center" style="font-size: 10pt">As filed with the Securities and Exchange Commission on January&nbsp;27, 2005



<P align="right" style="font-size: 10pt">Registration No.&nbsp;333-_________


<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>


<P align="center" style="font-size: 10pt"><HR size="1" noshade width="25%" align="center" color="#000000">


<P align="center" style="font-size: 18pt"><B>FORM S-8</B>


<P align="center" style="font-size: 10pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B>


<P align="center" style="font-size: 24pt"><B>Zonagen, Inc.</B>


<DIV align="center" style="font-size: 10pt">(Exact name of Registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B><BR>
(State of Incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>72-0233274</B><BR>
(I.R.S. Employer Identification No.)</TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><B>2408 Timberloch Dr., Suite&nbsp;B-1<BR>
The Woodlands, Texas 77380<BR>
(281)&nbsp;719-3400</B>


<DIV align="center" style="font-size: 10pt">(Address of principal executive offices) (zip code)</DIV>



<P align="center" style="font-size: 10pt"><B>2004 STOCK OPTION PLAN</B>


<DIV align="center" style="font-size: 10pt">(Full title of the plans)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Joseph S. Podolski</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Copies to:</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>President and Chief Executive Officer</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Jeffrey R. Harder, Esq</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>2408 Timberloch Dr., Suite&nbsp;B-1</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Winstead Sechrest &#038; Minick P.C.</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>The Woodlands, Texas 77380</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>600 Town Center One</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>(281)&nbsp;719-3400</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>1450 Lake Robbins Drive</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Name, address and telephone number,
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>The Woodlands, Texas 77380</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">including area code, of agent for service)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>(281)&nbsp;681-5900</B></TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">CALCULATION OF REGISTRATION FEE


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
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    <TD width="5%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
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    <TD width="5%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-bottom: 3px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Proposed Maximum</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Proposed Maximum</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="left">Title of Plan</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Amount to be</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Offering Price Per</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Aggregate Offering</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Amount of</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="left">to be Registered</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Registered<SUP style="font-size: 85%; vertical-align: text-top">(1)</sup></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Share<SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Price<SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Registration Fee</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>

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    <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
                    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">2004 Stock Option Plan</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="center" style="border-top: 1px solid #000000">750,000</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="center" colspan="2" style="border-top: 1px solid #000000">$4.14</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>

<TD nowrap align="center" colspan="3" style="border-top: 1px solid #000000">$2,460,000<SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>

<TD align="center" colspan="2" style="border-top: 1px solid #000000">$290</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Rights to Purchase Series&nbsp;One Junior Participating
Preferred Stock</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000"><SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000"><SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000"><SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000"><SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-top: 3px solid #000000">&nbsp;</TD>
</TR>

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</TABLE>
</DIV>


<P>
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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Pursuant to Rule&nbsp;416 of the Securities Act, this number includes an indeterminate number of additional shares that may be issued
under the above-referenced plan as a result of anti-dilution provisions, stock splits, stock dividends or similar transactions.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Estimated pursuant to Rule 457(c) and (h)&nbsp;solely for purposes of calculating amount of registration fee.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Each share of common stock includes a right to purchase one one-hundredth of a share of the registrant&#146;s Series&nbsp;One Junior
Participating Preferred Stock, par value $0.001 per share. The rights to purchase shares of the registrant&#146;s Series&nbsp;One Junior
Participating Preferred Stock are attached to and trade with the shares of the registrant&#146;s common stock being registered hereby.
Value attributed to such rights, if any, is reflected in the market price of the registrant&#146;s common stock.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">The proposed maximum aggregate offering price and registration fee are based upon the sum of the products obtained by adding (i)
the product of 451,464 shares (the number of shares of common stock registered hereby as to which options have been granted but not
exercised under the 2004 Stock Option Plan) multiplied by $2.72 (the exercise price of such options) and (ii)&nbsp;the product of
298,536 shares (the number of shares of common stock registered hereby as to which options may be granted under the 2004 Stock
Option Plan) multiplied by $4.14 (the average of the high and low prices of the Common Stock as reported on the Nasdaq SmallCap
Market on January&nbsp;25, 2005, which is within 5&nbsp;days of the filing of this registration statement).</TD>
</TR>

</TABLE>



<P>
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<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
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</TR>
<TR><TD colspan="9"><A HREF="#000">PART I</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;1. Plan Information.*</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;2. Registrant Information and Employee Plan Annual Information.*</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;3. Incorporation of Documents by Reference.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;4. Description of Securities.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;5. Interests of Named Experts and Counsel.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;6. Indemnification of Directors and Officers.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#008">Item&nbsp;7. Exemption from Registration Claimed.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#009">Item&nbsp;8. Exhibits.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#010">Item&nbsp;9. Undertakings.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#011">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#012">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="h21964exv5w1.htm">Opinion of Winstead Sechrest & Minick P.C.</A></TD></TR>
<TR><TD colspan="9"><A HREF="h21964exv23w2.htm">Consent of PricewaterhouseCoopers LLP</A></TD></TR>
</TABLE>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link1 "PART I" -->
<DIV align="left"><A NAME="000"></A></DIV>

<P align="center" style="font-size: 10pt"><B>PART I</B>



<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>


<!-- link2 "Item&nbsp;1. Plan Information.*" -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;1. Plan Information.*</B>

<!-- link2 "Item&nbsp;2. Registrant Information and Employee Plan Annual Information.*" -->
<DIV align="left"><A NAME="002"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;2. Registrant Information and Employee Plan Annual Information.*</B>



<P>
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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">*</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Information required by Part&nbsp;I of Form S-8 to be contained in a prospectus meeting the
requirements of Section 10(a) of the Securities Act of 1933 is omitted from this Registration
Statement in accordance with Rule&nbsp;428 under the Securities Act of 1933 pursuant to the Note to
Part&nbsp;I of Form S-8.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">





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<DIV align="left"><A NAME="003"></A></DIV>

<P align="center" style="font-size: 10pt"><B>PART II</B>



<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>


<!-- link2 "Item&nbsp;3. Incorporation of Documents by Reference." -->
<DIV align="left"><A NAME="004"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zonagen, Inc. (the &#147;Registrant&#148;) incorporates by reference into this Registration Statement
the following documents filed by the Registrant with the Securities and Exchange Commission (the
&#147;Commission&#148;):


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(a)&nbsp;&nbsp;</TD>
    <TD>Annual Report on Form 10-K for the fiscal year ended December
31, 2003;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(b)&nbsp;&nbsp;</TD>
    <TD>Quarterly Reports on Form 10-Q for the quarters ended March&nbsp;31,
June&nbsp;30 and September&nbsp;30, 2004;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)&nbsp;&nbsp;</TD>
    <TD>Current Reports on Form 8-K filed on October&nbsp;22 and November
12, 2004; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(d)&nbsp;&nbsp;</TD>
    <TD>The description of the Company&#146;s common stock, par value $0.001
per share (the &#147;Common Stock&#148;), contained in the Company&#146;s Registration
Statement on Form 8-A filed with the Commission on February&nbsp;2, 1993, as amended
by Amendment No.&nbsp;1 thereto filed with the Commission on February&nbsp;12, 1993 and
Amendment No.&nbsp;2 thereto filed with the Commission on March&nbsp;25, 1993.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed by the Registrant pursuant to Sections&nbsp;13(a), 13(c), 14 and 15(d) of the
Exchange Act after the date of this Registration Statement and prior to the filing of a
post-effective amendment which indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference
in this Registration Statement and to be a part hereof from the date of filing of such documents.
Any statement contained herein or in a document incorporated or deemed to be incorporated by
reference herein shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that such statement is modified or superseded by a subsequently filed
document which also is or is deemed to be incorporated herein. Any such statement so modified or
superseded shall not be deemed to constitute a part of this Registration Statement except as so
modified or superseded.

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<DIV align="left"><A NAME="005"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;4. Description of Securities.</B>

<P align="left" style="font-size: 10pt">Not applicable.


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<DIV align="left"><A NAME="006"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;5. Interests of Named Experts and Counsel.</B>

<P align="left" style="font-size: 10pt">Not applicable.


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<DIV align="left"><A NAME="007"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;145 of the Delaware General Corporation Law (&#147;DGCL&#148;), inter alia, empowers a Delaware
corporation to indemnify any person who was or is a party or is threatened to be made a party to
any threatened, pending or completed action, suit or proceeding (other than an action by or in the
right of the corporation) by reason of the fact that such person is or was a director, officer,
employee or agent of the corporation, or is or was serving at the request of the corporation as a
director, officer, employee or agent of another corporation or other enterprise, against expenses
(including attorneys&#146; fees), judgments, fines and amounts paid in settlement actually and
reasonably incurred by him in connection with such action, suit or proceeding if he acted in good
faith and in a manner he reasonably believed to be in or not opposed to the best interests of the
corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to
believe his conduct was unlawful. Similar indemnity is authorized for such persons against expenses
(including attorneys&#146; fees) actually and reasonably incurred in connection with the defense or
settlement of any such threatened, pending or completed action or suit if such person acted in good
faith and in a manner he reasonably believed to be in or not opposed to the best interests of the
corporation, and provided further that (unless a court of competent jurisdiction otherwise
provides) such person shall not have been adjudged liable to the corporation. Any such
indemnification may be made only as authorized in each specific case upon a determination by the
stockholders or disinterested directors or by independent legal counsel in a written opinion that
indemnification is proper because the indemnitee has met the applicable standard of conduct.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;145 further authorizes a corporation to purchase and maintain insurance on behalf of
any person who is or was a director, officer, employee or agent of the corporation, or is or was
serving at the request of the corporation as a director, officer, employee or agent of another
corporation or enterprise, against any liability asserted against him and incurred by him in any
such capacity, or arising out of his status as such, whether or not the corporation would otherwise
have the power to indemnify him under Section&nbsp;145. The Company maintains policies insuring its
officers and directors against certain liabilities for actions taken in such capacities, including
liabilities under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s Restated Certificate of Incorporation and Restated Bylaws require the Company to
indemnify the Company&#146;s directors to the fullest extent permitted under Delaware law or any other
applicable law in effect, but if such statute or law is amended, the Company may change the
standard of indemnification only to the extent that such amended statute or law permits the Company
to provide broader indemnification rights to the Company&#146;s directors. The Company must indemnify
such officers and employees in the same manner and to the same extent that the Company is required
to indemnify its directors under its Restated Certificate of Incorporation and Restated Bylaws. The
Company&#146;s Restated Certificate of Incorporation limits the personal liability of a director to the
Company or its stockholders to damages for breach of the director&#146;s fiduciary duty.

<!-- link2 "Item&nbsp;7. Exemption from Registration Claimed." -->
<DIV align="left"><A NAME="008"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;7. Exemption from Registration Claimed.</B>

<P align="left" style="font-size: 10pt">Not applicable.


<!-- link2 "Item&nbsp;8. Exhibits." -->
<DIV align="left"><A NAME="009"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;8. Exhibits.</B>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Exhibit Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">*3.1(a)
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Restated Certificate of Incorporation (incorporated by reference to
Exhibit&nbsp;3.3 to the Company&#146;s Registration Statement on Form&nbsp;SB-2
(No.&nbsp;33-57728-FW)).</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">*3.1(b)
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Certificate of Designation of Series&nbsp;One Junior Participating
Preferred Stock dated September&nbsp;2, 1999 (incorporated by reference
to Exhibit&nbsp;A to Exhibit&nbsp;4.1 to the Company&#146;s Registration Statement
on Form&nbsp;8-A as filed with the Commission on September&nbsp;3, 1999).</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">*3.2
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Restated Bylaws (incorporated by reference to Exhibit&nbsp;3.4 to the
Company&#146;s Registration Statement on Form&nbsp;SB-2 (No.&nbsp;33-57728-FW).</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">*4.1
</TD>
    <TD>&nbsp;</TD>

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Zonagen,
Inc. 2004 Stock Option Plan (incorporated by reference to Exhibit&nbsp;10.17 to the Company's Registration Statement on Form&nbsp;S-1, as amended
(No.&nbsp;333-119861)).
</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">**5.1
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Opinion of Winstead Sechrest &#038; Minick P.C.</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">**23.1
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Winstead Sechrest &#038; Minick P.C. (included in Exhibit&nbsp;5.1).</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">**23.2
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of PricewaterhouseCoopers LLP.</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">**24.1
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Power of Attorney (set forth on the signature page contained in Part
II of this Registration Statement).</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P>
<HR size="1" width="18%" align="left" noshade color="#000000">

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">*</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Incorporated by reference.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="left">**</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Filed herewith.</TD>
</TR>

</TABLE>


<!-- link2 "Item&nbsp;9. Undertakings." -->
<DIV align="left"><A NAME="010"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;9. Undertakings.</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The undersigned Registrant hereby undertakes:


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(1)&nbsp;&nbsp;</TD>
    <TD>To file, during any period in which offers or sales are being
made, a post-effective amendment to this Registration Statement:</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(i)&nbsp;&nbsp;</TD>
    <TD>To include any prospectus required by Section
10(a)(3) of the Securities Act of 1933;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(ii)&nbsp;&nbsp;</TD>
    <TD>To reflect in the prospectus any facts or
events arising after the effective date of this Registration Statement
(or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the
information set forth in this Registration Statement. Notwithstanding
the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that
which was registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form of
prospectus filed with the Commission pursuant to Rule 424(b) if, in the
aggregate, the changes in volume and price represent no more than a 20%
change in the maximum aggregate offering price set forth in the
&#147;Calculation of Registration Fee&#148; table in the effective Registration
Statement;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(iii)&nbsp;&nbsp;</TD>
    <TD>To include any material information with
respect to the plan of distribution not previously disclosed in this
Registration Statement or any material change to such information in
this Registration Statement;</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:4%; font-size: 10pt"><I>provided, however</I>, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed with or furnished to the
Commission by the Registrant pursuant to Section&nbsp;13 or Section 15(d) of the
Securities Exchange Act of 1934 that are incorporated by reference in this
Registration Statement.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(2)&nbsp;&nbsp;</TD>
    <TD>That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed to
be a new Registration Statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(3)&nbsp;&nbsp;</TD>
    <TD>To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned Registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the Registrant&#146;s annual report pursuant
to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 that is incorporated by
reference in this Registration Statement shall be deemed to be a new Registration Statement
relating to the securities offered herein, and the offering of such securities at that time shall
be deemed to be the initial <I>bona fide </I>offering thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the Registrant pursuant to the
foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the Registrant of expenses
incurred or paid by a director, officer or controlling person of the Registrant in the successful
defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the Registrant will, unless in the
opinion of its counsel the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is against public policy
as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such
issue.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="011"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in The Woodlands, State of Texas on January&nbsp;27, 2005.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">ZONAGEN, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Joseph S. Podolski
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Joseph S. Podolski&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">President and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL MEN BY THESE PRESENTS, that each of the undersigned directors and officers of the
Registrant hereby constitutes and appoints Joseph S. Podolski and Louis Ploth, Jr., and each of
them, his true and lawful attorneys-in-fact to sign on his behalf, as a director or officer, as the
case may be, of the Registrant, this Registration Statement for the purpose of registering under
the Securities Act of 1933, as amended, shares of the Registrant&#146;s common stock, par value, $.001
per share, issuable pursuant to awards granted under the Company&#146;s 2004 Stock Option Plan, for him
or her and in his or her name, place and stead, any or all amendments and any or all post-effective
amendments to the Registration Statement whether on Form S-8 or otherwise, and all other documents
in connection therewith, to be filed with the Securities and Exchange Commission, granting unto
said attorneys-in-fact and agents, and each of them, full power and authority to do and perform
each and every act and thing requisite and necessary to be done in and about the premises, as fully
to all intents and purposes as he or she might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact or any of them, or their substitute or substitutes, may
lawfully do or cause to be done by virtue thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933,
this Registration Statement has been signed below by the following persons in the capacities indicated on January&nbsp;27, 2005.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">SIGNATURE</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">TITLE</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">DATE</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" nowrap valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ JOSEPH S. PODOLSKI
<HR size="1" noshade color="#000000">
Joseph S. Podolski</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
President, Chief Executive Officer and Director
<BR>(Principal Executive Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">January 27, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ LOUIS PLOTH, JR.
<HR size="1" noshade color="#000000">
Louis Ploth, Jr.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Vice President, Business Development, Chief
Financial Officer, Secretary, Treasurer and
Director<BR>
(Principal Financial and Accounting Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">January 27, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ DANIEL F. CAIN
<HR size="1" noshade color="#000000">
Daniel F Cain</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">January 27, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ JEAN FOURCROY, MD, PHD, MPH
<HR size="1" noshade color="#000000">
Jean Fourcroy, MD, PhD, MPH</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">January 27, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ ZSOLT LAVOTHA
<HR size="1" noshade color="#000000">
Zsolt Lavotha</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">January 27, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ NOLA MASTERSON
<HR size="1" noshade color="#000000">
Nola Masterson</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">January 27, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ DAVID POORVIN, PHD
<HR size="1" noshade color="#000000">
David Poorvin, PhD</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">January 27, 2005</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="012"></A></DIV>

<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Exhibit Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">*3.1(a)
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Restated Certificate of Incorporation (incorporated by reference to
Exhibit&nbsp;3.3 to the Company&#146;s Registration Statement on Form&nbsp;SB-2
(No.&nbsp;33-57728-FW)).</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">*3.1(b)
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Certificate of Designation of Series&nbsp;One Junior Participating
Preferred Stock dated September&nbsp;2, 1999 (incorporated by reference
to Exhibit&nbsp;A to Exhibit&nbsp;4.1 to the Company&#146;s Registration Statement
on Form&nbsp;8-A as filed with the Commission on September&nbsp;3, 1999).</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">*3.2
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Restated Bylaws (incorporated by reference to Exhibit&nbsp;3.4 to the
Company&#146;s Registration Statement on Form&nbsp;SB-2 (No.&nbsp;33-57728-FW).</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">*4.1
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Zonagen, Inc. 2004 Stock Option Plan (incorporated by reference to Exhibit&nbsp;10.17 to the Company's Registration Statement on Form&nbsp;S-1, as amended
(No.&nbsp;333-119861)).</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">**5.1
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Opinion of Winstead Sechrest &#038; Minick P.C.</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">**23.1
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Winstead Sechrest &#038; Minick P.C. (included in Exhibit&nbsp;5.1).</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">**23.2
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of PricewaterhouseCoopers LLP.</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">**24.1
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Power of Attorney (set forth on the signature page contained in Part
II of this Registration Statement).</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



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    <TD width="1%" nowrap align="left">*</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Incorporated by reference.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="left">**</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Filed herewith.</TD>
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sv8
Table of Contents
As filed with the Securities and Exchange Commission on January 27, 2005
Registration No. 333-_________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
Zonagen, Inc.
(Exact name of Registrant as specified in its charter)
Delaware
(State of Incorporation)
72-0233274
(I.R.S. Employer Identification No.)
2408 Timberloch Dr., Suite B-1
The Woodlands, Texas 77380
(281) 719-3400
(Address of principal executive offices) (zip code)
2004 STOCK OPTION PLAN
(Full title of the plans)
Joseph S. Podolski
Copies to:
President and Chief Executive Officer
Jeffrey R. Harder, Esq
2408 Timberloch Dr., Suite B-1
Winstead Sechrest & Minick P.C.
The Woodlands, Texas 77380
600 Town Center One
(281) 719-3400
1450 Lake Robbins Drive
(Name, address and telephone number,
The Woodlands, Texas 77380
including area code, of agent for service)
(281) 681-5900
CALCULATION OF REGISTRATION FEE
Proposed Maximum
Proposed Maximum
Title of Plan
Amount to be
Offering Price Per
Aggregate Offering
Amount of
to be Registered
Registered
(1)
Share
(2)
Price
(2)
Registration Fee
2004 Stock Option Plan
750,000
$4.14
$2,460,000
(4)
$290
Rights to Purchase Series One Junior Participating
Preferred Stock
(3)
(3)
(3)
(3)
(1)
Pursuant to Rule 416 of the Securities Act, this number includes an indeterminate number of additional shares that may be issued
under the above-referenced plan as a result of anti-dilution provisions, stock splits, stock dividends or similar transactions.
(2)
Estimated pursuant to Rule 457(c) and (h) solely for purposes of calculating amount of registration fee.
(3)
Each share of common stock includes a right to purchase one one-hundredth of a share of the registrant's Series One Junior
Participating Preferred Stock, par value $0.001 per share. The rights to purchase shares of the registrant's Series One Junior
Participating Preferred Stock are attached to and trade with the shares of the registrant's common stock being registered hereby.
Value attributed to such rights, if any, is reflected in the market price of the registrant's common stock.
(4)
The proposed maximum aggregate offering price and registration fee are based upon the sum of the products obtained by adding (i)
the product of 451,464 shares (the number of shares of common stock registered hereby as to which options have been granted but not
exercised under the 2004 Stock Option Plan) multiplied by $2.72 (the exercise price of such options) and (ii) the product of
298,536 shares (the number of shares of common stock registered hereby as to which options may be granted under the 2004 Stock
Option Plan) multiplied by $4.14 (the average of the high and low prices of the Common Stock as reported on the Nasdaq SmallCap
Market on January 25, 2005, which is within 5 days of the filing of this registration statement).
TABLE OF CONTENTS
PART I
Item 1. Plan Information.*
Item 2. Registrant Information and Employee Plan Annual Information.*
PART II
Item 3. Incorporation of Documents by Reference.
Item 4. Description of Securities.
Item 5. Interests of Named Experts and Counsel.
Item 6. Indemnification of Directors and Officers.
Item 7. Exemption from Registration Claimed.
Item 8. Exhibits.
Item 9. Undertakings.
SIGNATURES
EXHIBIT INDEX
Opinion of Winstead Sechrest & Minick P.C.
Consent of PricewaterhouseCoopers LLP
Table of Contents
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item 1. Plan Information.*
Item 2. Registrant Information and Employee Plan Annual Information.*
*
Information required by Part I of Form S-8 to be contained in a prospectus meeting the
requirements of Section 10(a) of the Securities Act of 1933 is omitted from this Registration
Statement in accordance with Rule 428 under the Securities Act of 1933 pursuant to the Note to
Part I of Form S-8.
Table of Contents
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
Zonagen, Inc. (the "Registrant") incorporates by reference into this Registration Statement
the following documents filed by the Registrant with the Securities and Exchange Commission (the
"Commission"):
(a)
Annual Report on Form 10-K for the fiscal year ended December
31, 2003;
(b)
Quarterly Reports on Form 10-Q for the quarters ended March 31,
June 30 and September 30, 2004;
(c)
Current Reports on Form 8-K filed on October 22 and November
12, 2004; and
(d)
The description of the Company's common stock, par value $0.001
per share (the "Common Stock"), contained in the Company's Registration
Statement on Form 8-A filed with the Commission on February 2, 1993, as amended
by Amendment No. 1 thereto filed with the Commission on February 12, 1993 and
Amendment No. 2 thereto filed with the Commission on March 25, 1993.
All documents filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
Exchange Act after the date of this Registration Statement and prior to the filing of a
post-effective amendment which indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference
in this Registration Statement and to be a part hereof from the date of filing of such documents.
Any statement contained herein or in a document incorporated or deemed to be incorporated by
reference herein shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that such statement is modified or superseded by a subsequently filed
document which also is or is deemed to be incorporated herein. Any such statement so modified or
superseded shall not be deemed to constitute a part of this Registration Statement except as so
modified or superseded.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
Section 145 of the Delaware General Corporation Law ("DGCL"), inter alia, empowers a Delaware
corporation to indemnify any person who was or is a party or is threatened to be made a party to
any threatened, pending or completed action, suit or proceeding (other than an action by or in the
right of the corporation) by reason of the fact that such person is or was a director, officer,
employee or agent of the corporation, or is or was serving at the request of the corporation as a
director, officer, employee or agent of another corporation or other enterprise, against expenses
(including attorneys' fees), judgments, fines and amounts paid in settlement actually and
reasonably incurred by him in connection with such action, suit or proceeding if he acted in good
faith and in a manner he reasonably believed to be in or not opposed to the best interests of the
corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to
believe his conduct was unlawful. Similar indemnity is authorized for such persons against expenses
(including attorneys' fees) actually and reasonably incurred in connection with the defense or
settlement of any such threatened, pending or completed action or suit if such person acted in good
faith and in a manner he reasonably believed to be in or not opposed to the best interests of the
corporation, and provided further that (unless a court of competent jurisdiction otherwise
provides) such person shall not have been adjudged liable to the corporation. Any such
indemnification may be made only as authorized in each specific case upon a determination by the
stockholders or disinterested directors or by independent legal counsel in a written opinion that
indemnification is proper because the indemnitee has met the applicable standard of conduct.
Table of Contents
Section 145 further authorizes a corporation to purchase and maintain insurance on behalf of
any person who is or was a director, officer, employee or agent of the corporation, or is or was
serving at the request of the corporation as a director, officer, employee or agent of another
corporation or enterprise, against any liability asserted against him and incurred by him in any
such capacity, or arising out of his status as such, whether or not the corporation would otherwise
have the power to indemnify him under Section 145. The Company maintains policies insuring its
officers and directors against certain liabilities for actions taken in such capacities, including
liabilities under the Securities Act of 1933, as amended (the "Securities Act").
The Company's Restated Certificate of Incorporation and Restated Bylaws require the Company to
indemnify the Company's directors to the fullest extent permitted under Delaware law or any other
applicable law in effect, but if such statute or law is amended, the Company may change the
standard of indemnification only to the extent that such amended statute or law permits the Company
to provide broader indemnification rights to the Company's directors. The Company must indemnify
such officers and employees in the same manner and to the same extent that the Company is required
to indemnify its directors under its Restated Certificate of Incorporation and Restated Bylaws. The
Company's Restated Certificate of Incorporation limits the personal liability of a director to the
Company or its stockholders to damages for breach of the director's fiduciary duty.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
Exhibit Number
Description
*3.1(a)
Restated Certificate of Incorporation (incorporated by reference to
Exhibit 3.3 to the Company's Registration Statement on Form SB-2
(No. 33-57728-FW)).
*3.1(b)
Certificate of Designation of Series One Junior Participating
Preferred Stock dated September 2, 1999 (incorporated by reference
to Exhibit A to Exhibit 4.1 to the Company's Registration Statement
on Form 8-A as filed with the Commission on September 3, 1999).
*3.2
Restated Bylaws (incorporated by reference to Exhibit 3.4 to the
Company's Registration Statement on Form SB-2 (No. 33-57728-FW).
*4.1
Zonagen,
Inc. 2004 Stock Option Plan (incorporated by reference to Exhibit 10.17 to the Company's Registration Statement on Form S-1, as amended
(No. 333-119861)).
**5.1
Opinion of Winstead Sechrest & Minick P.C.
**23.1
Consent of Winstead Sechrest & Minick P.C. (included in Exhibit 5.1).
**23.2
Consent of PricewaterhouseCoopers LLP.
**24.1
Power of Attorney (set forth on the signature page contained in Part
II of this Registration Statement).
*
Incorporated by reference.
**
Filed herewith.
Item 9. Undertakings.
(a) The undersigned Registrant hereby undertakes:
Table of Contents
(1)
To file, during any period in which offers or sales are being
made, a post-effective amendment to this Registration Statement:
(i)
To include any prospectus required by Section
10(a)(3) of the Securities Act of 1933;
(ii)
To reflect in the prospectus any facts or
events arising after the effective date of this Registration Statement
(or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the
information set forth in this Registration Statement. Notwithstanding
the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that
which was registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form of
prospectus filed with the Commission pursuant to Rule 424(b) if, in the
aggregate, the changes in volume and price represent no more than a 20%
change in the maximum aggregate offering price set forth in the
"Calculation of Registration Fee" table in the effective Registration
Statement;
(iii)
To include any material information with
respect to the plan of distribution not previously disclosed in this
Registration Statement or any material change to such information in
this Registration Statement;
provided, however
, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed with or furnished to the
Commission by the Registrant pursuant to Section 13 or Section 15(d) of the
Securities Exchange Act of 1934 that are incorporated by reference in this
Registration Statement.
(2)
That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed to
be a new Registration Statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.
(3)
To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.
(b) The undersigned Registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the Registrant's annual report pursuant
to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 that is incorporated by
reference in this Registration Statement shall be deemed to be a new Registration Statement
relating to the securities offered herein, and the offering of such securities at that time shall
be deemed to be the initial
bona fide
offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the Registrant pursuant to the
foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the Registrant of expenses
incurred or paid by a director, officer or controlling person of the Registrant in the successful
defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the Registrant will, unless in the
opinion of its counsel the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is against public policy
as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such
issue.
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in The Woodlands, State of Texas on January 27, 2005.
ZONAGEN, INC.
By:
/s/ Joseph S. Podolski
Joseph S. Podolski
President and Chief Executive Officer
KNOW ALL MEN BY THESE PRESENTS, that each of the undersigned directors and officers of the
Registrant hereby constitutes and appoints Joseph S. Podolski and Louis Ploth, Jr., and each of
them, his true and lawful attorneys-in-fact to sign on his behalf, as a director or officer, as the
case may be, of the Registrant, this Registration Statement for the purpose of registering under
the Securities Act of 1933, as amended, shares of the Registrant's common stock, par value, $.001
per share, issuable pursuant to awards granted under the Company's 2004 Stock Option Plan, for him
or her and in his or her name, place and stead, any or all amendments and any or all post-effective
amendments to the Registration Statement whether on Form S-8 or otherwise, and all other documents
in connection therewith, to be filed with the Securities and Exchange Commission, granting unto
said attorneys-in-fact and agents, and each of them, full power and authority to do and perform
each and every act and thing requisite and necessary to be done in and about the premises, as fully
to all intents and purposes as he or she might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact or any of them, or their substitute or substitutes, may
lawfully do or cause to be done by virtue thereof.
Pursuant to the requirements of the Securities Act of 1933,
this Registration Statement has been signed below by the following persons in the capacities indicated on January 27, 2005.
SIGNATURE
TITLE
DATE
/s/ JOSEPH S. PODOLSKI
Joseph S. Podolski
President, Chief Executive Officer and Director
(Principal Executive Officer)
January 27, 2005
/s/ LOUIS PLOTH, JR.
Louis Ploth, Jr.
Vice President, Business Development, Chief
Financial Officer, Secretary, Treasurer and
Director
(Principal Financial and Accounting Officer)
January 27, 2005
/s/ DANIEL F. CAIN
Daniel F Cain
Director
January 27, 2005
/s/ JEAN FOURCROY, MD, PHD, MPH
Jean Fourcroy, MD, PhD, MPH
Director
January 27, 2005
/s/ ZSOLT LAVOTHA
Zsolt Lavotha
Director
January 27, 2005
/s/ NOLA MASTERSON
Nola Masterson
Director
January 27, 2005
/s/ DAVID POORVIN, PHD
David Poorvin, PhD
Director
January 27, 2005
Table of Contents
EXHIBIT INDEX
Exhibit Number
Description
*3.1(a)
Restated Certificate of Incorporation (incorporated by reference to
Exhibit 3.3 to the Company's Registration Statement on Form SB-2
(No. 33-57728-FW)).
*3.1(b)
Certificate of Designation of Series One Junior Participating
Preferred Stock dated September 2, 1999 (incorporated by reference
to Exhibit A to Exhibit 4.1 to the Company's Registration Statement
on Form 8-A as filed with the Commission on September 3, 1999).
*3.2
Restated Bylaws (incorporated by reference to Exhibit 3.4 to the
Company's Registration Statement on Form SB-2 (No. 33-57728-FW).
*4.1
Zonagen, Inc. 2004 Stock Option Plan (incorporated by reference to Exhibit 10.17 to the Company's Registration Statement on Form S-1, as amended
(No. 333-119861)).
**5.1
Opinion of Winstead Sechrest & Minick P.C.
**23.1
Consent of Winstead Sechrest & Minick P.C. (included in Exhibit 5.1).
**23.2
Consent of PricewaterhouseCoopers LLP.
**24.1
Power of Attorney (set forth on the signature page contained in Part
II of this Registration Statement).
*
Incorporated by reference.
**
Filed herewith.