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<TITLE>Item 1</TITLE>


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<B><FONT SIZE=2><P ALIGN="CENTER">&nbsp;</P>


<P ALIGN="CENTER">UNITED STATES </P>


<P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION </P>


</B><P ALIGN="CENTER">Washington, D.C. 20549 </P>


<P ALIGN="JUSTIFY"></P>


<P ALIGN="CENTER">________________________</P>


</FONT><B><FONT SIZE=4><P ALIGN="CENTER">FORM 8K </P>


</B></FONT><FONT SIZE=2><P ALIGN="CENTER">________________________</P>


<P ALIGN="JUSTIFY"></P>


<P ALIGN="CENTER">CURRENT REPORT</P>


<P ALIGN="JUSTIFY"></P><DIR>





<P ALIGN="CENTER">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 </P>


<P ALIGN="CENTER"></P>


<P ALIGN="CENTER">Date of report (date of earliest event reported):  April 1, 2005</P>


<P ALIGN="JUSTIFY"></P></DIR>





</FONT><B><FONT SIZE=5><P ALIGN="CENTER">CoTherix, Inc.</P>


</B></FONT><FONT SIZE=2><P ALIGN="CENTER">(Exact name of registrant as specified in its charter) </P>


<P ALIGN="JUSTIFY"></P></FONT>


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<TR><TD WIDTH="46%" VALIGN="TOP" HEIGHT=14><DIR>





<B><FONT SIZE=2><P>&#9;&#9;Delaware</DIR>


</B></FONT></TD>


<TD WIDTH="22%" VALIGN="TOP" HEIGHT=14>


<B><FONT SIZE=2><P ALIGN="CENTER">000-05794</B></FONT></TD>


<TD WIDTH="32%" VALIGN="BOTTOM" HEIGHT=14>


<B><FONT SIZE=2><P ALIGN="CENTER">04-3513144</B></FONT></TD>


</TR>


<TR><TD WIDTH="46%" VALIGN="TOP" HEIGHT=15><DIR>





<FONT SIZE=2><P ALIGN="CENTER">(State or other jurisdiction of incorporation or organization)</DIR>


</FONT></TD>


<TD WIDTH="22%" VALIGN="TOP" HEIGHT=15>


<FONT SIZE=2><P ALIGN="CENTER">(Commission File Number)</FONT></TD>


<TD WIDTH="32%" VALIGN="BOTTOM" HEIGHT=15>


<FONT SIZE=2><P ALIGN="CENTER">(I.R.S. employer identification number)</FONT></TD>


</TR>


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</CENTER></P>





<FONT SIZE=2><P ALIGN="JUSTIFY"></P>


<B><P ALIGN="CENTER">5000 Shoreline Court, Suite 101, South San Francisco, CA 94080</P>


</B><P ALIGN="CENTER">(Address of principal executive offices and zip code) </P>


<P ALIGN="JUSTIFY"></P>


<B><P ALIGN="CENTER">(650) 808-6500 </P>


</B><P ALIGN="CENTER">(Registrant's telephone number, including area code) </P>


<P ALIGN="JUSTIFY"></P>


<P>&nbsp;</P>


<P ALIGN="JUSTIFY">&nbsp;</P>


</FONT><FONT FACE="TimesNewRoman"><P><A NAME="toc"></A></P>


</FONT><FONT SIZE=2><P>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>


<DIR>





</FONT><P><A NAME="Check1"></A><FONT SIZE=2> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>


</FONT><P><FONT SIZE=2> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>


</FONT><P><A NAME="Check3"></A><FONT SIZE=2> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>


<P><A NAME="Check4"></A> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>


</FONT><P ALIGN="JUSTIFY"></P></DIR>





<B><U><FONT SIZE=2><P ALIGN="JUSTIFY">Item&nbsp;1.01.  Entry into Material Definitive Agreement</U>.</P>


<P>Approval of Cash Compensation for Directors</P>


</B>


<P>On April 1, 2005, the Board of Directors (the &quot;Board&quot;) of CoTherix, Inc. (the &quot;Company&quot;) approved the following cash compensation for our directors.  Beginning with 2005, each director will receive a $15,000 annual retainer, which will be paid in equal quarterly installments.  The Chairman of the Board and the Chairman of the Audit Committee of the Board will each receive an additional $10,000 annual retainer, which will also be paid in equal quarterly installments.  In addition, all of the Company's directors will receive $1,500 for each meeting which they attend in person and $500 for each meeting which they attend by telephone.</P>





</FONT><B><P>&nbsp;</P>


<FONT SIZE=2><P ALIGN="CENTER">SIGNATURES </P>


</B><P ALIGN="JUSTIFY"></P>


<P ALIGN="JUSTIFY">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 ALIGN="JUSTIFY"></P>


<P ALIGN="JUSTIFY">Date:  April 7, 2005</P></FONT>


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<B><FONT SIZE=2><P>CoTherix, Inc.</B></FONT></TD>


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<TR><TD WIDTH="9%" VALIGN="TOP">


<FONT SIZE=2><P>By: &nbsp;</FONT></TD>


<TD WIDTH="91%" VALIGN="BOTTOM">


<FONT SIZE=2><P>/s/ Thomas L. Feldman</FONT></TD>


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<TR><TD VALIGN="TOP" COLSPAN=2 HEIGHT=55>


<FONT SIZE=2><P>Thomas L. Feldman </P>


<P>President and Chief Business Officer</FONT></TD>


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<FONT SIZE=2><P ALIGN="JUSTIFY"></P>


<P ALIGN="JUSTIFY">&nbsp;</P>


<P>&nbsp;</P>


<P ALIGN="JUSTIFY">&nbsp;</P>


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[{"type": "8-K", "sequence": "1", "filename": "rrd75185.htm", "secsgml_size_bytes": 5053}]
{"company-data": {"conformed-name": "COTHERIX INC", "cik": "0001138812", "assigned-sic": "2836", "irs-number": "000000000"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50794", "film-number": "05739299"}, "business-address": {"street1": "5000 SHORELINE COURT", "street2": "SUITE 101", "city": "SOUTH SAN FRANCISCO", "state": "CA", "zip": "94080", "phone": "650-808-6500"}, "mail-address": {"street1": "5000 SHORELINE COURT", "street2": "SUITE 101", "city": "SOUTH SAN FRANCISCO", "state": "CA", "zip": "94080"}, "former-company": {"former-conformed-name": "EXHALE THERAPEUTICS INC", "date-changed": "20010503"}}
Item 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________________
FORM 8K
________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (date of earliest event reported):  April 1, 2005
CoTherix, Inc.
(Exact name of registrant as specified in its charter)
Delaware
000-05794
04-3513144
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(I.R.S. employer identification number)
5000 Shoreline Court, Suite 101, South San Francisco, CA 94080
(Address of principal executive offices and zip code)
(650) 808-6500
(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 (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 Material Definitive Agreement
.
Approval of Cash Compensation for Directors
On April 1, 2005, the Board of Directors (the "Board") of CoTherix, Inc. (the "Company") approved the following cash compensation for our directors.  Beginning with 2005, each director will receive a $15,000 annual retainer, which will be paid in equal quarterly installments.  The Chairman of the Board and the Chairman of the Audit Committee of the Board will each receive an additional $10,000 annual retainer, which will also be paid in equal quarterly installments.  In addition, all of the Company's directors will receive $1,500 for each meeting which they attend in person and $500 for each meeting which they attend by telephone.
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.
Date:  April 7, 2005
CoTherix, Inc.
By:
/s/ Thomas L. Feldman
Thomas L. Feldman
President and Chief Business Officer