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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 13.5pt">UNITED STATES</FONT><BR>
<FONT STYLE="font-size: 13.5pt">SECURITIES AND EXCHANGE COMMISSION </FONT><BR>
<FONT STYLE="font-size: 10pt">WASHINGTON, D.C. 20549</FONT></P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center">FORM 8-K</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Pursuant to Section&nbsp;13 or 15(d) of the
Securities Exchange Act of 1934</P>

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

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    <TD STYLE="width: 60%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Date of Report (Date of Earliest Event Reported):</FONT></TD>
    <TD STYLE="width: 40%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">December 27, 2013</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;&nbsp;</P>

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    <TD STYLE="width: 100%; border-bottom: windowtext 1pt solid; font-size: 24pt; text-align: center"><FONT STYLE="font-size: 24pt; color: black">Marina Biotech, Inc.</FONT></TD></TR>
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<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">(Exact name of registrant as specified in its charter)</P>



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    <TD STYLE="width: 25%; border-bottom: windowtext 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Delaware</FONT></TD>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 20%; border-bottom: windowtext 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: black">000-13789</FONT></TD>
    <TD STYLE="width: 18%">&nbsp;</TD>
    <TD STYLE="width: 20%; border-bottom: windowtext 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: black">11-2658569</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: black">(State or other jurisdiction</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: black">(Commission</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: black">(I.R.S. Employer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: black">of incorporation)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: black">File Number)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: black">Identification No.)</FONT></TD></TR>
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    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; width: 40%"><FONT STYLE="font-size: 10pt; color: black">P.O. Box 1559, Bothell, Washington </FONT></TD>
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; width: 20%"><FONT STYLE="font-size: 10pt; color: black">98041</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: black">(Address of principal executive offices) </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt; color: black">(Zip Code) </FONT></TD></TR>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Registrant&rsquo;s telephone number, including area code:</FONT></TD>
    <TD STYLE="width: 40%; text-align: center"><FONT STYLE="font-size: 10pt; color: black">425-908-3600</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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    <TD STYLE="width: 100%; border-bottom: windowtext 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; color: black">N/A</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Former name or former address, if changed since
last report</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">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:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">Item 1.01 Entry Into a Material Definitive Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-weight: normal">On December 27, 2013, Marina
Biotech, Inc. (the &ldquo;Company&rdquo;) and Mirna Therapeutics, Inc. (&ldquo;Mirna&rdquo;) amended that certain License
Agreement that the parties originally entered into on December 22, 2011 regarding the development and commercialization of
microRNA-based therapeutics utilizing Mirna&rsquo;s proprietary microRNAs and the Company&rsquo;s novel SMARTICLES liposomal
delivery technology. Under terms of the amendment, Mirna paid certain pre-payments to the Company and now has additional
rights to its lead program, MRX34, currently in Phase 1 clinical development for patients with unresectable primary liver
cancer or metastatic cancer with liver involvement. In addition, under the terms of the license agreement, as amended, Mirna
has optioned exclusivity on several additional miRNA targets. Further terms of the amendment were not disclosed.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">Item 3.02 Unregistered Sales of Equity Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-weight: normal">Please see Item 5.01 below for
disclosure regarding the issuance by the Company of unregistered shares of its common stock, par value $0.001 per share (&ldquo;Common
Stock&rdquo;), to certain of its executive officers and directors in reliance on the exemption from registration afforded by Section
4(2) of the Securities Act of 1933, as amended.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">Item 5.02 Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-weight: normal"><I>Resignation of Officers; Issuance
of Stock to Officers</I></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-weight: normal">Effective as of the close of
business on December 31, 2013, Philip C. Ranker resigned as the interim Chief Financial Officer and Secretary of the Company
and Richard T. Ho, M.D., Ph.D. resigned as the Executive Vice President &ndash; Research &amp; Development of the Company. In
connection with such resignations, and in order to satisfy certain unfulfilled payment obligations in the aggregate amount of
approximately $834,000 that were due to each of them pursuant to their respective employment agreements with the Company, the
Company on January 1, 2014 agreed to issue to Mr. Ranker and Dr. Ho (after applying a discount to the amount owed) an
aggregate of 1,257,000 shares of Common Stock. At the same time, and in order to satisfy certain unfulfilled payment
obligations in the amount of approximately $415,000 that were due to J. Michael French pursuant to his employment agreement
with the Company, the Company on January 1, 2014 agreed to issue to Mr. French  (after applying a discount to the amount
owed) 1,130,000 shares of Common Stock. Each share of Common Stock issued to Messrs. French and Ranker, and to Dr. Ho, was
valued based on the volume weighted average price of the Common Stock for the ten trading days ending on December 31,
2013.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-weight: normal"><I>Appointment of Directors</I></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-weight: normal">On January 1, 2014, the Board
of Directors of the Company, acting pursuant to Article II, Section 2 of the Amended and Restated By-Laws of the Company (the &ldquo;By-Laws&rdquo;),
increased the size of the Board of Directors to four (4) directors, and, acting pursuant to Article II, Section 5 of the By-Laws,
elected Philip C. Ranker to serve as a director of the Company, effective immediately.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-weight: normal"><I>Compensation of Directors</I></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-weight: normal">On January 1, 2014, the
Board of Directors approved the following compensation for non-employee directors during the 2014 calendar year: an annual
fee of $40,000, payable in shares of Common Stock on a quarterly basis in advance, with the number of shares to be issued to
be based on the volume weighted average price of the Common Stock for the ten trading days ending on the last trading day of
the previous quarter. Also on January 1, 2014, the Board of Directors approved the issuance to Stefan Loren, Ph.D. and
Joseph W. Ramelli of an aggregate of 300,000 shares of Common Stock in lieu of approximately $100,000 of fees otherwise due
to them from the Company. Dr. Loren and Mr. Ramelli have each served as directors of the Company since August 2012 without
having received any cash or equity compensation for their service. Each share of Common Stock issued to Dr. Loren and Mr.
Ramelli was valued based on the volume weighted average price of the Common Stock for the ten trading days ending on December
31, 2013.</FONT></P>

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


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">Item 8.01 Other Events.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-weight: normal">On January 2, 2014 the Company
issued a press release announcing that it had amended its License Agreement with Mirna, and on January 3, 2014 the Company issued
a press release disclosing the changes with respect to its officers and directors, a copy of each of which is attached to this
Current Report on Form 8-K and is incorporated herein by reference.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-weight: normal">(d) Exhibits:</FONT></P>

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

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    <TD STYLE="width: 15%; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Exhibit No.</FONT></TD>
    <TD STYLE="width: 2%; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 83%; font-weight: bold; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">Description</FONT></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="font-weight: bold"><FONT STYLE="font-weight: normal">99.1</FONT></TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-weight: normal">Press release of Marina Biotech, Inc. dated January 2, 2014.</FONT></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="font-weight: bold"><FONT STYLE="font-weight: normal">99.2</FONT></TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-weight: normal">Press release of Marina Biotech, Inc. dated January 3, 2014.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">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.</P>

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<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Marina Biotech, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt; color: black">January 3, 2014</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-size: 10pt; color: black">By:&nbsp;</FONT></TD>
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: black">/s/ J. Michael French</FONT></TD></TR>
</TABLE>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-size: 10pt; color: black">Name:</FONT></TD>
    <TD STYLE="width: 44%"><FONT STYLE="font-size: 10pt; color: black">J. Michael French</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt; color: black">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; color: black">Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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

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

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

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: black"><B>Exhibit No.</B></FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: black"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 83%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt; color: black"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: black">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: black">99.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt; color: black">Press release of Marina Biotech, Inc. dated January 2, 2014.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: black">99.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt; color: black">Press release of Marina Biotech, Inc. dated January 3, 2014.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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{"company-data": {"conformed-name": "Marina Biotech, Inc.", "cik": "0000737207", "assigned-sic": "2834", "irs-number": "112658569", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-13789", "film-number": "14505934"}, "business-address": {"street1": "3830 MONTE VILLA PARKWAY", "city": "BOTHELL", "state": "WA", "zip": "98021", "phone": "4259083600"}, "mail-address": {"street1": "3830 MONTE VILLA PARKWAY", "city": "BOTHELL", "state": "WA", "zip": "98021"}, "former-company": [{"former-conformed-name": "MDRNA, Inc.", "date-changed": "20080610"}, {"former-conformed-name": "NASTECH PHARMACEUTICAL CO INC", "date-changed": "19920703"}]}
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):
December 27, 2013
Marina Biotech, Inc.
(Exact name of registrant as specified in its charter)
Delaware
000-13789
11-2658569
(State or other jurisdiction
(Commission
(I.R.S. Employer
of incorporation)
File Number)
Identification No.)
P.O. Box 1559, Bothell, Washington
98041
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:
425-908-3600
N/A
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 December 27, 2013, Marina
Biotech, Inc. (the "Company") and Mirna Therapeutics, Inc. ("Mirna") amended that certain License
Agreement that the parties originally entered into on December 22, 2011 regarding the development and commercialization of
microRNA-based therapeutics utilizing Mirna's proprietary microRNAs and the Company's novel SMARTICLES liposomal
delivery technology. Under terms of the amendment, Mirna paid certain pre-payments to the Company and now has additional
rights to its lead program, MRX34, currently in Phase 1 clinical development for patients with unresectable primary liver
cancer or metastatic cancer with liver involvement. In addition, under the terms of the license agreement, as amended, Mirna
has optioned exclusivity on several additional miRNA targets. Further terms of the amendment were not disclosed.
Item 3.02 Unregistered Sales of Equity Securities.
Please see Item 5.01 below for
disclosure regarding the issuance by the Company of unregistered shares of its common stock, par value $0.001 per share ("Common
Stock"), to certain of its executive officers and directors in reliance on the exemption from registration afforded by Section
4(2) of the Securities Act of 1933, as amended.
Item 5.02 Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Resignation of Officers; Issuance
of Stock to Officers
Effective as of the close of
business on December 31, 2013, Philip C. Ranker resigned as the interim Chief Financial Officer and Secretary of the Company
and Richard T. Ho, M.D., Ph.D. resigned as the Executive Vice President – Research & Development of the Company. In
connection with such resignations, and in order to satisfy certain unfulfilled payment obligations in the aggregate amount of
approximately $834,000 that were due to each of them pursuant to their respective employment agreements with the Company, the
Company on January 1, 2014 agreed to issue to Mr. Ranker and Dr. Ho (after applying a discount to the amount owed) an
aggregate of 1,257,000 shares of Common Stock. At the same time, and in order to satisfy certain unfulfilled payment
obligations in the amount of approximately $415,000 that were due to J. Michael French pursuant to his employment agreement
with the Company, the Company on January 1, 2014 agreed to issue to Mr. French  (after applying a discount to the amount
owed) 1,130,000 shares of Common Stock. Each share of Common Stock issued to Messrs. French and Ranker, and to Dr. Ho, was
valued based on the volume weighted average price of the Common Stock for the ten trading days ending on December 31,
2013.
Appointment of Directors
On January 1, 2014, the Board
of Directors of the Company, acting pursuant to Article II, Section 2 of the Amended and Restated By-Laws of the Company (the "By-Laws"),
increased the size of the Board of Directors to four (4) directors, and, acting pursuant to Article II, Section 5 of the By-Laws,
elected Philip C. Ranker to serve as a director of the Company, effective immediately.
Compensation of Directors
On January 1, 2014, the
Board of Directors approved the following compensation for non-employee directors during the 2014 calendar year: an annual
fee of $40,000, payable in shares of Common Stock on a quarterly basis in advance, with the number of shares to be issued to
be based on the volume weighted average price of the Common Stock for the ten trading days ending on the last trading day of
the previous quarter. Also on January 1, 2014, the Board of Directors approved the issuance to Stefan Loren, Ph.D. and
Joseph W. Ramelli of an aggregate of 300,000 shares of Common Stock in lieu of approximately $100,000 of fees otherwise due
to them from the Company. Dr. Loren and Mr. Ramelli have each served as directors of the Company since August 2012 without
having received any cash or equity compensation for their service. Each share of Common Stock issued to Dr. Loren and Mr.
Ramelli was valued based on the volume weighted average price of the Common Stock for the ten trading days ending on December
31, 2013.
Item 8.01 Other Events.
On January 2, 2014 the Company
issued a press release announcing that it had amended its License Agreement with Mirna, and on January 3, 2014 the Company issued
a press release disclosing the changes with respect to its officers and directors, a copy of each of which is attached to this
Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
Exhibit No.
Description
99.1
Press release of Marina Biotech, Inc. dated January 2, 2014.
99.2
Press release of Marina Biotech, Inc. dated January 3, 2014.
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.
Marina Biotech, Inc.
January 3, 2014
By:
/s/ J. Michael French
Name:
J. Michael French
Title:
Chief Executive Officer
EXHIBIT INDEX
Exhibit No.
Description
99.1
Press release of Marina Biotech, Inc. dated January 2, 2014.
99.2
Press release of Marina Biotech, Inc. dated January 3, 2014.