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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>UNITED
STATES </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>SECURITIES
AND EXCHANGE COMMISSION </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>WASHINGTON,
D.C. 20549</B></FONT><B> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 16pt"><B>FORM 8-K
</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>CURRENT
REPORT </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>PURSUANT
TO SECTION 13 OR 15(d) OF THE </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>SECURITIES
EXCHANGE ACT OF 1934 </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of report (Date of earliest event reported):
March 30, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NILE THERAPEUTICS, INC. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of Registrant as Specified
in its Charter) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 32%; font-weight: bold; text-align: center">001-34058</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 32%; font-weight: bold; text-align: center">88-0363465</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: center">(State or Other Jurisdiction<BR> of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Commission</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>File Number)</B></P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">(I.R.S. Employer<BR> Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>4 West 4th Street, Suite 400</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>San Mateo, California 04404</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Address of Principal Executive Offices)
(Zip Code)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(650) 458-2670</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Registrant&rsquo;s telephone number,
including area code) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Not Applicable </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Former name or former address, if changed
since last report) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-indent: -0.2in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -48pt"><B>&nbsp;</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -48pt"><B>Item 1.01.&#9;Entry into a Material
Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -48pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">On March 30, 2012, <FONT STYLE="color: black">Nile
Therapeutics, Inc. (the &ldquo;Company&rdquo;)</FONT> entered into subscription agreements (each, a &ldquo;Subscription Agreement&rdquo;)
with certain purchasers pursuant to which it agreed to sell an aggregate of 3,350,000 shares of its common stock (the &ldquo;Shares&rdquo;)
to such purchasers for a purchase price of $0.40 per Share. In addition, for each Share purchased, each purchaser will also receive
three-fourths of a warrant to purchase an additional share of common stock at an exercise price of $0.50 per share (the &ldquo;Warrants&rdquo;),
resulting in the issuance of Warrants to purchase an aggregate of 2,512,500 shares of the Company&rsquo;s common stock (the &ldquo;Warrant
Shares&rdquo;). The Warrants will be exercisable for a period of five years beginning on the earlier of (i) the date on which the
Additional Registration Statement (as defined below) is declared effective by the Securities and Exchange Commission (the &ldquo;SEC&rdquo;),
and (ii) one year and one day after issuance. The total gross proceeds from the offering will be $1.34 million, before deducting
anticipated selling commissions and expenses of approximately $0.2 million. The closing of the offering is expected to occur on
or around April 4, 2012, subject to the satisfaction of customary closing conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In connection with the offering, the Company
engaged Roth Capital Partners, LLC (&ldquo;Roth&rdquo;) to serve as placement agent pursuant to the terms of a placement agent
agreement dated March 30, 2012 (the &ldquo;Placement Agent Agreement&rdquo;). Pursuant to the terms of the Placement Agent Agreement,
the Company agreed to pay Roth a cash fee equal to seven percent of the gross proceeds received by the Company, or $93,800, plus
a non-accountable expense allowance of $35,000. The Placement Agent Agreement contains customary representations, warranties, and
covenants by the Company, and also provides for customary indemnification by the Company and the Placement Agent for losses or
damages arising out of or in connection with the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Richard B. Brewer, the Company&rsquo;s Executive
Chairman, Joshua A. Kazam, the Company&rsquo;s President and Chief Executive Officer and a director, Daron Evans, the Company&rsquo;s
Chief Financial Officer, and Hsiao Lieu, M.D., the Company&rsquo;s Executive VP of Clinical Development, are participating in the
offering on the same terms as the unaffiliated purchasers, and have collectively subscribed to purchase 275,000 Shares and Warrants
to purchase 206,250 Warrant Shares for an aggregate purchase price of $110,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The offer and sale of the Shares and Warrants
was made pursuant to the Company&rsquo;s shelf registration statement on Form S-3 (SEC File No. 333-165167), which became effective
on March 12, 2010 (the &ldquo;Shelf Registration Statement&rdquo;), and a prospectus supplement thereto dated March 30, 2012. A
copy of the opinion of Fredrikson &amp; Byron, P.A. relating to the legality of the issuance of the Shares and Warrants is attached
as Exhibit 5.1 hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Pursuant to the Subscription Agreements,
the Company has agreed to file, within 15 business days after the closing of the offering, a registration statement under the Securities
Act of 1933, as amended, covering the issuance of the Warrant Shares upon exercise of the Warrants and the subsequent resale of
the Warrant Shares (the &ldquo;Additional Registration Statement&rdquo;), and to cause such registration statement to be declared
effective within 90 days following the closing of the offering. In the event the Additional Registration Statement is not declared
effective by the SEC within such 90-day period, the Company has agreed to pay liquidated damages to each purchaser in the amount
of 1% of such purchaser&rsquo;s aggregate investment amount for each 30-day period until the Additional Registration Statement
is declared effective, subject to an aggregate limit of 12% of such purchaser&rsquo;s aggregate investment amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The foregoing summaries of the Placement Agent Agreement,
the Subscription Agreements and the Warrants are subject to, and qualified in their entirety by reference to, the Placement Agent
Agreement, the Form of Subscription Agreement and the Form of Warrant, which are attached hereto as Exhibits 1.1, 10.1 and 4.1,
respectively, and are incorporated herein by reference. This Current Report on Form 8-K is being filed in part for the purpose
of incorporating Exhibits 1.1, 4.1, 5.1 and 10.1 by reference into the Shelf Registration Statement.&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01. Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>(d) Exhibits.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 22.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; border-bottom: windowtext 1pt solid; font-weight: bold">Exhibit&nbsp;No.</TD>
    <TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 88%; border-bottom: windowtext 1pt solid; font-weight: bold">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-indent: 0in">1.1</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Placement Agent Agreement dated March 30, 2012, between Nile Therapeutics, Inc. and Roth Capital Partners, LLC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-indent: 0in">4.1</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Form of Warrant.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-indent: 0in">5.1</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Opinion of Fredrikson &amp; Byron, P.A.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-indent: 0in">10.1</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Form of Subscription Agreement.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-indent: 0in">23.1</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Consent of Fredrikson &amp; Byron, P.A. (included in Exhibit 5.1)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -60pt">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto
duly authorized.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; font-weight: bold">NILE THERAPEUTICS, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 4%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 49%; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">Date:&nbsp; April 2, 2012</TD>
    <TD STYLE="text-indent: 0in">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-left: 0.25in; text-indent: 0in">/s/ Daron Evans</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-indent: 0in">Daron Evans</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-indent: 0in">Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -3in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 11%; border-bottom: windowtext 1pt solid; font-weight: bold">Exhibit&nbsp;No.</TD>
    <TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 88%; border-bottom: windowtext 1pt solid; font-weight: bold">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-indent: 0in">1.1</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Placement Agent Agreement dated March 30, 2012, between Nile Therapeutics, Inc. and Roth Capital Partners, LLC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-indent: 0in">4.1</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Form of Warrant.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-indent: 0in">5.1</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Opinion of Fredrikson &amp; Byron, P.A.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-indent: 0in">10.1</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Form of Subscription Agreement.</TD></TR>
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[{"type": "8-K", "sequence": "1", "filename": "v308250_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 24924}]
{"company-data": {"conformed-name": "Nile Therapeutics, Inc.", "cik": "0001133869", "assigned-sic": "2834", "irs-number": "000000000", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-34058", "film-number": "12732410"}, "business-address": {"street1": "4 WEST 4TH AVE", "street2": "SUITE 400", "city": "SAN MATEO", "state": "CA", "zip": "94402", "phone": "650-458-2678"}, "mail-address": {"street1": "4 WEST 4TH AVE", "street2": "SUITE 400", "city": "SAN MATEO", "state": "CA", "zip": "94402"}, "former-company": {"former-conformed-name": "SMI PRODUCTS INC", "date-changed": "20010206"}}
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM 8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
March 30, 2012
NILE THERAPEUTICS, INC.
(Exact name of Registrant as Specified
in its Charter)
Delaware
001-34058
88-0363465
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
4 West 4th Street, Suite 400
San Mateo, California 04404
(Address of Principal Executive Offices)
(Zip Code)
(650) 458-2670
(Registrant's telephone number,
including area code)
Not Applicable
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01.	Entry into a Material
Definitive Agreement.
On March 30, 2012,
Nile
Therapeutics, Inc. (the "Company")
entered into subscription agreements (each, a "Subscription Agreement")
with certain purchasers pursuant to which it agreed to sell an aggregate of 3,350,000 shares of its common stock (the "Shares")
to such purchasers for a purchase price of $0.40 per Share. In addition, for each Share purchased, each purchaser will also receive
three-fourths of a warrant to purchase an additional share of common stock at an exercise price of $0.50 per share (the "Warrants"),
resulting in the issuance of Warrants to purchase an aggregate of 2,512,500 shares of the Company's common stock (the "Warrant
Shares"). The Warrants will be exercisable for a period of five years beginning on the earlier of (i) the date on which the
Additional Registration Statement (as defined below) is declared effective by the Securities and Exchange Commission (the "SEC"),
and (ii) one year and one day after issuance. The total gross proceeds from the offering will be $1.34 million, before deducting
anticipated selling commissions and expenses of approximately $0.2 million. The closing of the offering is expected to occur on
or around April 4, 2012, subject to the satisfaction of customary closing conditions.
In connection with the offering, the Company
engaged Roth Capital Partners, LLC ("Roth") to serve as placement agent pursuant to the terms of a placement agent
agreement dated March 30, 2012 (the "Placement Agent Agreement"). Pursuant to the terms of the Placement Agent Agreement,
the Company agreed to pay Roth a cash fee equal to seven percent of the gross proceeds received by the Company, or $93,800, plus
a non-accountable expense allowance of $35,000. The Placement Agent Agreement contains customary representations, warranties, and
covenants by the Company, and also provides for customary indemnification by the Company and the Placement Agent for losses or
damages arising out of or in connection with the offering.
Richard B. Brewer, the Company's Executive
Chairman, Joshua A. Kazam, the Company's President and Chief Executive Officer and a director, Daron Evans, the Company's
Chief Financial Officer, and Hsiao Lieu, M.D., the Company's Executive VP of Clinical Development, are participating in the
offering on the same terms as the unaffiliated purchasers, and have collectively subscribed to purchase 275,000 Shares and Warrants
to purchase 206,250 Warrant Shares for an aggregate purchase price of $110,000.
The offer and sale of the Shares and Warrants
was made pursuant to the Company's shelf registration statement on Form S-3 (SEC File No. 333-165167), which became effective
on March 12, 2010 (the "Shelf Registration Statement"), and a prospectus supplement thereto dated March 30, 2012. A
copy of the opinion of Fredrikson & Byron, P.A. relating to the legality of the issuance of the Shares and Warrants is attached
as Exhibit 5.1 hereto.
Pursuant to the Subscription Agreements,
the Company has agreed to file, within 15 business days after the closing of the offering, a registration statement under the Securities
Act of 1933, as amended, covering the issuance of the Warrant Shares upon exercise of the Warrants and the subsequent resale of
the Warrant Shares (the "Additional Registration Statement"), and to cause such registration statement to be declared
effective within 90 days following the closing of the offering. In the event the Additional Registration Statement is not declared
effective by the SEC within such 90-day period, the Company has agreed to pay liquidated damages to each purchaser in the amount
of 1% of such purchaser's aggregate investment amount for each 30-day period until the Additional Registration Statement
is declared effective, subject to an aggregate limit of 12% of such purchaser's aggregate investment amount.
1
The foregoing summaries of the Placement Agent Agreement,
the Subscription Agreements and the Warrants are subject to, and qualified in their entirety by reference to, the Placement Agent
Agreement, the Form of Subscription Agreement and the Form of Warrant, which are attached hereto as Exhibits 1.1, 10.1 and 4.1,
respectively, and are incorporated herein by reference. This Current Report on Form 8-K is being filed in part for the purpose
of incorporating Exhibits 1.1, 4.1, 5.1 and 10.1 by reference into the Shelf Registration Statement.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Description
1.1
Placement Agent Agreement dated March 30, 2012, between Nile Therapeutics, Inc. and Roth Capital Partners, LLC.
4.1
Form of Warrant.
5.1
Opinion of Fredrikson & Byron, P.A.
10.1
Form of Subscription Agreement.
23.1
Consent of Fredrikson & Byron, P.A. (included in Exhibit 5.1)
2
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto
duly authorized.
NILE THERAPEUTICS, INC.
Date:  April 2, 2012
By:
/s/ Daron Evans
Daron Evans
Chief Financial Officer
3
EXHIBIT INDEX
Exhibit No.
Description
1.1
Placement Agent Agreement dated March 30, 2012, between Nile Therapeutics, Inc. and Roth Capital Partners, LLC.
4.1
Form of Warrant.
5.1
Opinion of Fredrikson & Byron, P.A.
10.1
Form of Subscription Agreement.
4