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<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-indent: 0.5in">&nbsp;</P>

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

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>WASHINGTON,
D.C.</B></FONT><B> <FONT STYLE="font-size: 10pt">20549</FONT></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"><B>_____________</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"><B>_____________</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"><B>Pursuant to Section 13 or
15(d) of the</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"><B>Securities Exchange Act of
1934</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center">Date of report (Date of earliest
event reported): <B>January 30, 2012</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"><B>Manhattan Pharmaceuticals,
Inc.</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center">(Exact Name of Registrant as
Specified in Charter)</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; margin-left: -6pt; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"><B>Delaware</B></P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center">(State or Other Jurisdiction</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center">of Incorporation)</P></TD>
    <TD STYLE="width: 30%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"><B>001-32639</B></P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center">(Commission File Number)</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0">&nbsp;</P></TD>
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"><B>36-3898269</B></P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center">(IRS Employer Identification
        No.)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"><B>787 Seventh Ave, 48<SUP>th</SUP>
Floor<FONT STYLE="color: black"> </FONT></B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"><B>New York, New York 10019</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center">(Address of Principal Executive
Offices)</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"><B>(212) 554-4305</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center">(Registrant's telephone number,
including area code)</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 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/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings 2">&pound;</FONT></TD><TD STYLE="padding-right: 0.2in">Written communications pursuant to Rule 425 under the Securities Act.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings 2">&pound;</FONT></TD><TD STYLE="padding-right: 0.2in">Soliciting material pursuant to Rule 14a-12 under the Exchange Act.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings 2">&pound;</FONT></TD><TD STYLE="padding-right: 0.2in">Pre-commencement communications pursuant to Rule 14d-2b under the Exchange Act.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings 2">&pound;</FONT></TD><TD STYLE="padding-right: 0.2in">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</TD></TR></TABLE>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0"><B>&nbsp;&nbsp;</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0"><B>Item 1.01.&#9;Entry into a Material Definitive Agreement.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In April 2011, TG Therapeutics,
Inc. (&ldquo;TG Therapeutics&rdquo;), a subsidiary of Manhattan Pharmaceuticals, Inc. (the &ldquo;Company&rdquo;), acquired from
LFB Biotechnologies, a fully owned subsidiary of France based LFB S.A., an option (the &ldquo;License Option&rdquo;) for exclusive
worldwide rights (except France/Belgium) to develop and market ublituximab (&ldquo;LFB-R603&rdquo; or &ldquo;R603&rdquo; or &ldquo;TG20&rdquo;),
a monoclonal antibody that targets a specific epitope on the B-cell lymphocyte CD20 antigen intended to be marketed under the trade
name &ldquo;Utuxin.<SUP>TM</SUP>&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On January 30, 2012, TG
Therapeutics exercised the License Option and entered into a license agreement with GTC Biotherapeutics, Inc., LFB Biotechnologies
S.A.S. (&ldquo;LFB&rdquo;), and LFB/GTC LLC. In connection with the license agreement, TG Therapeutics issued 7,368,000 shares
of its common stock to LFB, and the Company agreed to contribute $15 million, less applicable fees and expenses associated with
the financing, to TG Therapeutics to fund the development of Utuxin under the license agreement, in exchange for 7,500,000 shares
of TG Therapeutics common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0"><B>Item 8.01. &#9;Other Events.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On December 30, 2011, OPN
Capital Markets (&ldquo;OPNCM&rdquo;) and its affiliated broker-dealer, National Securities Corporation (&ldquo;NSC&rdquo; and
collectively with OPNCM, &ldquo;National&rdquo;), both affiliates of National Holdings, entered into a Placement Agency Agreement
(the &ldquo;PAA&rdquo;) with the Company in connection with the initial closing of the offering of up to $25 million of stock and
warrants of the Company (the &ldquo;Offering&rdquo;). Pursuant to the PAA, National is acting as the Company&rsquo;s placement
agent for the Offering.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company completed the
second closing of the Offering on January 31, 2012, issuing 489,199 shares of the Company&rsquo;s Series A Preferred Stock (&ldquo;Preferred
Stock&rdquo;) at a price per share of $20.00 for total gross proceeds, before placement commissions and expenses, of $9,783,980.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">
</FONT>Investors will also receive warrants to purchase 61,149,875 shares of Company Common Stock. The warrants have an exercise
price of $0.04 per share and are exercisable for five years.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; color: #404040">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">The
shares of Preferred Stock and warrants sold in the second closing were offered and sold to accredited investors, including members
of management, without registration under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), or state securities
laws, in reliance on the exemptions provided by Section&nbsp;4(2) of the Securities Act, and Regulation&nbsp;D promulgated thereunder
and in reliance on similar exemptions under applicable state laws. Accordingly, the securities to be issued in the Offering have
not been registered under the Securities Act, and until so registered, these securities may not be offered or sold in the United
States absent registration or availability of an applicable exemption from registration.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As placement agent, National
will receive cash commissions equal to 10% of the gross proceeds of the Offering, five-year warrants to purchase shares of the
Company&rsquo;s stock equal to 10% of shares sold in the Offering, and a non-accountable expense allowance equal to two percent
of the gross proceeds of the Offering for National&rsquo;s expenses (not including up to $80,000 of National&rsquo;s legal expenses
and any blue sky fees, both of which the Company will also reimburse). In addition, the Company will also pay to National the cash
fee and warrants, determined in accordance with the percentages set forth above, if, during a period of 12 months following the
termination of the PAA, the Company signs a definitive agreement with respect to an investment by any party directly or indirectly
introduced to the Company by National (regardless of when such investment is consummated), or consummates any investment with any
such party. In addition to acting as placement agent in the Offering, National provided advisory services in connection with the
Exchange Transaction. National is entitled to receive an advisory fee of $150,000 for such services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Michael S. Weiss, is a
director and Non-Executive Chairman of the Board of Directors of National Holdings. He is also a stockholder of National Holdings
and, when combined with his ownership indirectly through Opus and its affiliates, beneficially owns 23.6% of National Holdings,
the parent company of NSC. In addition, Opus and NSC are parties to a 50/50 joint venture that shares profits from OPNCM, the investment
banking division of NSC that is responsible for managing the Offering. Therefore, Mr. Weiss will indirectly derive benefit from
the Offering through Opus&rsquo; share of the joint venture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: justify; text-indent: 0.5in">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.2in; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.2in; font-weight: bold">Manhattan Pharmaceuticals, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.2in; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.2in; text-align: justify">(Registrant)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.2in; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.2in; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 0.2in; text-align: justify">Date:&nbsp; February 3, 2012</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.2in; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 21%; padding-right: 0.2in; text-align: left; font-weight: normal">&nbsp;</TD>
    <TD STYLE="width: 30%; padding-right: 0.2in; text-align: left; font-weight: normal">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 0.2in; text-align: left; font-weight: normal">By:</TD>
    <TD STYLE="width: 47%; padding-right: 0.2in; text-align: left; font-weight: normal; border-bottom: Black 2px solid">/s/ Sean A. Power</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.2in; text-align: left; font-weight: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; text-align: left; font-weight: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; text-align: left; font-weight: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; text-align: left; font-weight: normal">Sean A. Power</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.2in; text-align: left; font-weight: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; text-align: left; font-weight: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; text-align: left; font-weight: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; text-align: left; font-weight: normal">Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: left"></P>

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{"company-data": {"conformed-name": "MANHATTAN PHARMACEUTICALS INC", "cik": "0001001316", "assigned-sic": "2834", "irs-number": "363898269", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-32639", "film-number": "12570968"}, "business-address": {"street1": "810 SEVENTH AVENUE", "street2": "4TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10019", "phone": "(212) 582-3950"}, "mail-address": {"street1": "810 SEVENTH AVENUE", "street2": "4TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10019"}, "former-company": [{"former-conformed-name": "ATLANTIC TECHNOLOGY VENTURES INC", "date-changed": "20000330"}, {"former-conformed-name": "ATLANTIC PHARMACEUTICALS INC", "date-changed": "19960703"}]}
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):
January 30, 2012
Manhattan Pharmaceuticals,
Inc.
(Exact Name of Registrant as
Specified in Charter)
Delaware
(State or Other Jurisdiction
of Incorporation)
001-32639
(Commission File Number)
36-3898269
(IRS Employer Identification
        No.)
787 Seventh Ave, 48
th
Floor
New York, New York 10019
(Address of Principal Executive
Offices)
(212) 554-4305
(Registrant's telephone number,
including area code)
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.
£
Soliciting material pursuant to Rule 14a-12 under the Exchange Act.
£
Pre-commencement communications pursuant to Rule 14d-2b under the Exchange Act.
£
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
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Item 1.01.	Entry into a Material Definitive Agreement.
In April 2011, TG Therapeutics,
Inc. ("TG Therapeutics"), a subsidiary of Manhattan Pharmaceuticals, Inc. (the "Company"), acquired from
LFB Biotechnologies, a fully owned subsidiary of France based LFB S.A., an option (the "License Option") for exclusive
worldwide rights (except France/Belgium) to develop and market ublituximab ("LFB-R603" or "R603" or "TG20"),
a monoclonal antibody that targets a specific epitope on the B-cell lymphocyte CD20 antigen intended to be marketed under the trade
name "Utuxin.
TM
"
On January 30, 2012, TG
Therapeutics exercised the License Option and entered into a license agreement with GTC Biotherapeutics, Inc., LFB Biotechnologies
S.A.S. ("LFB"), and LFB/GTC LLC. In connection with the license agreement, TG Therapeutics issued 7,368,000 shares
of its common stock to LFB, and the Company agreed to contribute $15 million, less applicable fees and expenses associated with
the financing, to TG Therapeutics to fund the development of Utuxin under the license agreement, in exchange for 7,500,000 shares
of TG Therapeutics common stock.
Item 8.01. 	Other Events.
On December 30, 2011, OPN
Capital Markets ("OPNCM") and its affiliated broker-dealer, National Securities Corporation ("NSC" and
collectively with OPNCM, "National"), both affiliates of National Holdings, entered into a Placement Agency Agreement
(the "PAA") with the Company in connection with the initial closing of the offering of up to $25 million of stock and
warrants of the Company (the "Offering"). Pursuant to the PAA, National is acting as the Company's placement
agent for the Offering.
The Company completed the
second closing of the Offering on January 31, 2012, issuing 489,199 shares of the Company's Series A Preferred Stock ("Preferred
Stock") at a price per share of $20.00 for total gross proceeds, before placement commissions and expenses, of $9,783,980.
Investors will also receive warrants to purchase 61,149,875 shares of Company Common Stock. The warrants have an exercise
price of $0.04 per share and are exercisable for five years.
The
shares of Preferred Stock and warrants sold in the second closing were offered and sold to accredited investors, including members
of management, without registration under the Securities Act of 1933, as amended (the "Securities Act"), or state securities
laws, in reliance on the exemptions provided by Section 4(2) of the Securities Act, and Regulation D promulgated thereunder
and in reliance on similar exemptions under applicable state laws. Accordingly, the securities to be issued in the Offering have
not been registered under the Securities Act, and until so registered, these securities may not be offered or sold in the United
States absent registration or availability of an applicable exemption from registration.
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As placement agent, National
will receive cash commissions equal to 10% of the gross proceeds of the Offering, five-year warrants to purchase shares of the
Company's stock equal to 10% of shares sold in the Offering, and a non-accountable expense allowance equal to two percent
of the gross proceeds of the Offering for National's expenses (not including up to $80,000 of National's legal expenses
and any blue sky fees, both of which the Company will also reimburse). In addition, the Company will also pay to National the cash
fee and warrants, determined in accordance with the percentages set forth above, if, during a period of 12 months following the
termination of the PAA, the Company signs a definitive agreement with respect to an investment by any party directly or indirectly
introduced to the Company by National (regardless of when such investment is consummated), or consummates any investment with any
such party. In addition to acting as placement agent in the Offering, National provided advisory services in connection with the
Exchange Transaction. National is entitled to receive an advisory fee of $150,000 for such services.
Michael S. Weiss, is a
director and Non-Executive Chairman of the Board of Directors of National Holdings. He is also a stockholder of National Holdings
and, when combined with his ownership indirectly through Opus and its affiliates, beneficially owns 23.6% of National Holdings,
the parent company of NSC. In addition, Opus and NSC are parties to a 50/50 joint venture that shares profits from OPNCM, the investment
banking division of NSC that is responsible for managing the Offering. Therefore, Mr. Weiss will indirectly derive benefit from
the Offering through Opus' share of the joint venture.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Manhattan Pharmaceuticals, Inc.
(Registrant)
Date:  February 3, 2012
By:
/s/ Sean A. Power
Sean A. Power
Chief Financial Officer
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