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<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
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<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
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<DIV align="center" style="font-size: 18pt; margin-top: 14pt"><B>FORM 8-K</B>
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<DIV align="center" style="font-size: 12pt; margin-top: 15pt"><B>CURRENT REPORT<BR>
Pursuant To Section&nbsp;13 OR 15 (d)&nbsp;of The Securities Exchange Act of 1934</B>
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<DIV align="Center" style="font-size: 10pt; margin-top: 15pt"><B>Date of Report (Date of earliest event reported) &#151; December&nbsp;9, 2008</B>

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<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>NUCRYST PHARMACEUTICALS CORP.</B>
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<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>

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    <TD align="center" valign="top"><B>Alberta, Canada<BR></B>
(State or other jurisdiction of<B><BR></B>
incorporation or organization)
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    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>000-51686<BR></B>
(Commission File Number)
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    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Not Applicable<BR></B>
(I.R.S. Employer Identification No.)</TD>
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<DIV align="Center" style="font-size: 10pt; margin-top: 12pt"><B>NUCRYST Pharmaceuticals Corp.<BR>
101 College Road East<BR>
Princeton, New Jersey 08540</B><BR>
(Address of principal executive offices)

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<DIV align="Center" style="font-size: 10pt; margin-top: 15pt">Registrant&#146;s telephone number, including area code: <B>(609)&nbsp;228-8220</B>
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<DIV align="Center" style="font-size: 10pt; margin-top: 21pt">(Former name or former address, if changed since last report)

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<DIV align="left" style="font-size: 10pt; margin-top: 15pt">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 (<I>see </I>General Instruction
A.2. below):
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    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
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    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
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    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD>
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    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD>
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    <TD width="9%" nowrap align="left"><B><I>Item&nbsp;5.02</I></B>&nbsp;</TD>
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    <TD><B>Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></TD>
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<DIV align="left" style="font-size: 10pt; margin-top: 12pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December&nbsp;9, 2008, in connection with the previously announced relocation of the executive
headquarters of NUCRYST Pharmaceuticals Corp. (the &#147;Company&#148;) from Wakefield, Massachusetts to
Princeton, New Jersey, the Board of Directors of the Company approved the severance of Edward Gaj,
Jr., Vice President, Corporate Development, as an officer of the Company and as an employee of
NUCRYST Pharmaceuticals Inc. for reasons other than cause, effective December&nbsp;31, 2008. Mr.&nbsp;Gaj
will continue to serve as an officer of the Company until December&nbsp;31, 2008. The parties are
negotiating the terms of a severance agreement and the Company will amend this Form 8-K to file the
severance agreement upon its finalization with Mr.&nbsp;Gaj.
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<DIV align="center" style="font-size: 10pt; margin-top: 36pt"><B>SIGNATURES</B>
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<DIV align="left" style="font-size: 10pt; margin-top: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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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    <TD colspan="3" align="left"><FONT style="font-variant: SMALL-CAPS"><B><BR>Nucryst Pharmaceuticals Corp.</B></FONT><BR><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"><B><I>/s/&nbsp;&nbsp;Carol L. Amelio</I></B>
&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left"><B>Carol L. Amelio</B></TD>
    <TD>&nbsp;</TD>
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    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left"><B>Vice President, General Counsel and<BR>
Corporate Secretary</B>&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD colspan="5">&nbsp;</TD>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dated:&nbsp;&nbsp;December&nbsp;15, 2008.

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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) — December 9, 2008
NUCRYST PHARMACEUTICALS CORP.
(Exact name of registrant as specified in its charter)
Alberta, Canada
(State or other jurisdiction of
incorporation or organization)
000-51686
(Commission File Number)
Not Applicable
(I.R.S. Employer Identification No.)
NUCRYST Pharmaceuticals Corp.
101 College Road East
Princeton, New Jersey 08540
(Address of principal executive offices)
Registrant's telephone number, including area code:
(609) 228-8220
(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 (
see
General Instruction
A.2. below):
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02
Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b)     On December 9, 2008, in connection with the previously announced relocation of the executive
headquarters of NUCRYST Pharmaceuticals Corp. (the "Company") from Wakefield, Massachusetts to
Princeton, New Jersey, the Board of Directors of the Company approved the severance of Edward Gaj,
Jr., Vice President, Corporate Development, as an officer of the Company and as an employee of
NUCRYST Pharmaceuticals Inc. for reasons other than cause, effective December 31, 2008. Mr. Gaj
will continue to serve as an officer of the Company until December 31, 2008. The parties are
negotiating the terms of a severance agreement and the Company will amend this Form 8-K to file the
severance agreement upon its finalization with Mr. Gaj.
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.
Nucryst Pharmaceuticals Corp.
By:
/s/  Carol L. Amelio
Carol L. Amelio
Vice President, General Counsel and
Corporate Secretary
Dated:  December 15, 2008.