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  <TITLE> NASTECH PHARMACEUTICAL COMPANY INC. (Form: 8-K) </TITLE>
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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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  	November 13, 2007
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  	NASTECH PHARMACEUTICAL COMPANY INC.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	&nbsp;
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  	Delaware
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  	0-13789
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  	11-2658569
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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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  	&nbsp;&nbsp;
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  	3830 Monte Villa Parkway, Bothell, Washington
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  	98021
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	&nbsp;
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  	425-908-3600
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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>
  </P>
  <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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  <FONT SIZE="2">Top of the Form</FONT>
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  <B>
  	Item 8.01 Other Events.
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  On November 13, 2007, Nastech Pharmaceutical Company Inc. (the "Company") issued two press releases announcing its corporate restructuring initiatives aimed at reducing operating expenses and enhancing shareholder value, including the establishment of MDRNA, Inc., its wholly-owned subsidiary, as an independent, separately financed company, and the concentration of its resources on Phase 2 clinical and partnered programs for PYY(3-36) Nasal Spray for obesity, Insulin Nasal Spray for type 2 diabetes, and PTH(1-34) Nasal Spray for osteoporosis. <br><br>Copies of these press releases are attached as Exhibits 99.1 and 99.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.
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  	Item 9.01 Financial Statements and Exhibits.
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  (d)	Exhibits.
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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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  	NASTECH PHARMACEUTICAL COMPANY INC.
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  	&nbsp;&nbsp;
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  <I>
  	November 14, 2007
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  	&nbsp;
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  	By:
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  	&nbsp;
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  <I>
  	Dr. Steven C. Quay
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  	&nbsp;
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  <I>
  	Name: Dr. Steven C. Quay
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  <I>
  	Title: Chairman of the Board, President and Chief Executive Officer
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	&nbsp;
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  	Description
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  	99.1
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  	&nbsp;
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  Press Release of Nastech Pharmaceutical Company Inc. dated November 13, 2007.
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  	99.2
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  	&nbsp;
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  Press Release of Nastech Pharmaceutical Company Inc. dated November 13, 2007.
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_23857.htm", "description": "LIVE FILING", "secsgml_size_bytes": 10786}]
metadata_filer: {"company-data": {"conformed-name": "NASTECH PHARMACEUTICAL CO 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": "071241997"}, "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"}}
text: NASTECH PHARMACEUTICAL COMPANY INC. (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):
  November 13, 2007
  NASTECH PHARMACEUTICAL COMPANY INC.
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Delaware
  0-13789
  11-2658569
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  3830 Monte Villa Parkway, Bothell, Washington
  98021
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  425-908-3600
  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 8.01 Other Events.
  On November 13, 2007, Nastech Pharmaceutical Company Inc. (the "Company") issued two press releases announcing its corporate restructuring initiatives aimed at reducing operating expenses and enhancing shareholder value, including the establishment of MDRNA, Inc., its wholly-owned subsidiary, as an independent, separately financed company, and the concentration of its resources on Phase 2 clinical and partnered programs for PYY(3-36) Nasal Spray for obesity, Insulin Nasal Spray for type 2 diabetes, and PTH(1-34) Nasal Spray for osteoporosis.
  Copies of these press releases are attached as Exhibits 99.1 and 99.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.
  Item 9.01 Financial Statements and Exhibits.
  (d)	Exhibits.
  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.
  NASTECH PHARMACEUTICAL COMPANY INC.
  November 14, 2007
  By:
  Dr. Steven C. Quay
  Name: Dr. Steven C. Quay
  Title: Chairman of the Board, President and Chief Executive Officer
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  99.1
  Press Release of Nastech Pharmaceutical Company Inc. dated November 13, 2007.
  99.2
  Press Release of Nastech Pharmaceutical Company Inc. dated November 13, 2007.