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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	April 24, 2007
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  	Martek Biosciences Corporation
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Delaware
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  	0-22354
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  	52-1399362
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	6480 Dobbin Road, Columbia, Maryland
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  	21045
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
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  	Registrant&#146;s telephone number, including area code:
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  	410-740-0081
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  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>
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  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <B>
  	Item 2.02 Results of Operations and Financial Condition.
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  The information contained in the first paragraph under Item 4.02 below and in the press release attached to this current report as Exhibit 99.1 is hereby incorporated by reference into this Item 2.02.
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  	Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.
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  (a)<br><br>On April 24, 2007, the Audit Committee of the Board of Directors of Martek Biosciences Corporation (the "Company"), in consultation with management of the Company and following discussion with the Company&#x2019;s independent registered public accountants, concluded that the financial statements included in the Company&#x2019;s Form 10-K for the year ended October 31, 2006 (the "2006 10-K"), and the Forms 10-Q for the quarterly periods ended January 31, 2006, April 30, 2006 and July 31, 2006 (the "2006 10-Q&#x2019;s") and the Form 10-Q for the quarterly period ended January 31, 2007 (the "First Quarter 2007 10-Q"), and the Report of the Registered Public Accounting Firm, Ernst & Young LLP, for each of the three years in the period ended October 31, 2006 should no longer be relied upon due to the misapplication of accounting principles governing depreciation. The required accounting correction will affect only the Company&#x2019;s depreciation of assets held for future use. Specifically, the corrected policy requires the depreciation of such assets when they are initially available for use, and depreciation will continue over the useful life of the asset without regard to whether the asset is in use.  As the effect of this correction in application of accounting policy was deemed by the Audit Committee of the Board of Directors to have had a material effect on the results of Martek&#x2019;s operations during fiscal 2006 and the first quarter of fiscal 2007, the Company has determined that it will restate its financial statements for the effect of these adjustments. Subject to finalizing its restatements, the Company estimates the effect of the application of this corrected depreciation accounting policy will result in $4.0 million to $4.5 million and $1.6 million to $1.8 million of additional depreciation of assets held for future use in fiscal 2006 and the first quarter of 2007, respectively, with the after-tax effect of these additional charges estimated to result in a reduction of between $2.6 million and $2.8 million ($0.08 to $0.09 per diluted share) and of $1.0 million and $1.2 million ($0.03 to $0.04 per diluted share) in these same periods. As noted, these amounts have not yet been finalized, nor has the Company&#x2019;s independent registered public accounting firm completed its review of these numbers.<br><br>The Company plans to file amendments to the 2006 10-K, the 2006 10-Q&#x2019;s and the First Quarter 2007 10-Q containing restatements of the affected financial statements as soon as practicable.  A press release announcing the restatements is attached to this current report as Exhibit 99.1 and is incorporated by reference in this report. <br><br>The Audit Committee has discussed the matters disclosed in this filing with Ernst & Young LLP, the Company&#x2019;s independent registered public accounting firm. <br>
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  	Item 9.01 Financial Statements and Exhibits.
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  (d)	Exhibits<br>	<br>Exhibit<br>Number	Description<br><br>99.1	Press Release of Martek Biosciences Corporation dated April 24, 2007<br><br>
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  	SIGNATURES
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  	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.
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  	Martek Biosciences Corporation
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  	&nbsp;&nbsp;
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  <I>
  	April 24, 2007
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  	By:
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  <I>
  	/s/ David M. Feitel
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  <I>
  	Name: David M. Feitel
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  <I>
  	Title: Senior Vice President and General Counsel
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	Description
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  	99.1
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  	&nbsp;
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  Press Release of Martek Biosciences Corporation dated April 24, 2007
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metadata_filer: {"company-data": {"conformed-name": "MARTEK BIOSCIENCES CORP", "cik": "0000892025", "assigned-sic": "2836", "irs-number": "521399362", "state-of-incorporation": "DE", "fiscal-year-end": "1031"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-22354", "film-number": "07784791"}, "business-address": {"street1": "6480 DOBBIN RD", "city": "COLUMBIA", "state": "MD", "zip": "21045", "phone": "4107400081"}, "mail-address": {"street1": "6480 DOBBIN RD", "city": "COLUMBIA", "state": "MD", "zip": "21045"}}
text: Martek Biosciences Corporation (Form: 8-K)
  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):
  April 24, 2007
  Martek Biosciences Corporation
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Delaware
  0-22354
  52-1399362
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  6480 Dobbin Road, Columbia, Maryland
  21045
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  410-740-0081
  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))
  Top of the Form
  Item 2.02 Results of Operations and Financial Condition.
  The information contained in the first paragraph under Item 4.02 below and in the press release attached to this current report as Exhibit 99.1 is hereby incorporated by reference into this Item 2.02.
  Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.
  (a)
  On April 24, 2007, the Audit Committee of the Board of Directors of Martek Biosciences Corporation (the "Company"), in consultation with management of the Company and following discussion with the Company's independent registered public accountants, concluded that the financial statements included in the Company's Form 10-K for the year ended October 31, 2006 (the "2006 10-K"), and the Forms 10-Q for the quarterly periods ended January 31, 2006, April 30, 2006 and July 31, 2006 (the "2006 10-Q's") and the Form 10-Q for the quarterly period ended January 31, 2007 (the "First Quarter 2007 10-Q"), and the Report of the Registered Public Accounting Firm, Ernst & Young LLP, for each of the three years in the period ended October 31, 2006 should no longer be relied upon due to the misapplication of accounting principles governing depreciation. The required accounting correction will affect only the Company's depreciation of assets held for future use. Specifically, the corrected policy requires the depreciation of such assets when they are initially available for use, and depreciation will continue over the useful life of the asset without regard to whether the asset is in use.  As the effect of this correction in application of accounting policy was deemed by the Audit Committee of the Board of Directors to have had a material effect on the results of Martek's operations during fiscal 2006 and the first quarter of fiscal 2007, the Company has determined that it will restate its financial statements for the effect of these adjustments. Subject to finalizing its restatements, the Company estimates the effect of the application of this corrected depreciation accounting policy will result in $4.0 million to $4.5 million and $1.6 million to $1.8 million of additional depreciation of assets held for future use in fiscal 2006 and the first quarter of 2007, respectively, with the after-tax effect of these additional charges estimated to result in a reduction of between $2.6 million and $2.8 million ($0.08 to $0.09 per diluted share) and of $1.0 million and $1.2 million ($0.03 to $0.04 per diluted share) in these same periods. As noted, these amounts have not yet been finalized, nor has the Company's independent registered public accounting firm completed its review of these numbers.
  The Company plans to file amendments to the 2006 10-K, the 2006 10-Q's and the First Quarter 2007 10-Q containing restatements of the affected financial statements as soon as practicable.  A press release announcing the restatements is attached to this current report as Exhibit 99.1 and is incorporated by reference in this report.
  The Audit Committee has discussed the matters disclosed in this filing with Ernst & Young LLP, the Company's independent registered public accounting firm.
  Item 9.01 Financial Statements and Exhibits.
  (d)	Exhibits
  Exhibit
  Number	Description
  99.1	Press Release of Martek Biosciences Corporation dated April 24, 2007
  Top of the Form
  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.
  Martek Biosciences Corporation
  April 24, 2007
  By:
  /s/ David M. Feitel
  Name: David M. Feitel
  Title: Senior Vice President and General Counsel
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  99.1
  Press Release of Martek Biosciences Corporation dated April 24, 2007